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Share to Twitter Share to Linkedin Falling house prices tend to be bad for incumbent politicians during reelections. Take, for example, George H. W. Bush. Vice President George H. W. Bush was elected president in a landslide in 1988. The U.S. housing market had been booming for years before that election. The Northeast boomed from 1986 to 1988, and California was also booming in 1988. Nationally, nominal house prices increased 14% in the 20 months from January 1987 until the election in November 1988, according to the S&P CoreLogic Case-Shiller Home Price Index . Eight states voted for George Bush that haven’t voted for another Republican presidential candidate since then. Six of those states were in the Northeast, and one was California. All of those states saw big house price increases in the 1980s. By 1990, however, house prices nationally had stopped increasing. Real house prices and family home equity wealth fell with the 1990 recession. … [Read more...] about Falling House Prices And The Elections In 2022 And 2024

Share to Twitter Share to Linkedin Changes in demand caused by the pandemic were, of course, a big part of the house price boom but two years of falling mortgage rates was the main reason house prices skyrocketed in 2020 and 2021. Rates fell from 4.9% in November 2018 to 2.7% in January 2021, the lowest rate ever on 30-year fixed-rate mortgages. Is there a sector of the economy that is more sensitive to changes in interest rates than buying houses? When you borrow 95% of the price of the largest purchase of your life for 30 years, interest rates have a huge impact on how much you can pay for a house and, therefore, on house prices in general. In January 2021, you could borrow 32% more money to buy a house than you could in November 2018 with the exact same monthly principal and interest mortgage payment. House buyers, both investors and live-in buyers, could borrow a lot more money with the same payment, so naturally, over time, they bid up house prices. … [Read more...] about 3 Possible Solutions To Housing Booms And Busts

- A + A COLOMBO (June 27): Sri Lanka will shut schools and only allow fuel supplies to services deemed essential like health, trains and buses for two weeks starting Tuesday, a minister said, in a desperate attempt to deal with a severe shortage. Sri Lanka is suffering its worst economic crisis, with foreign exchange reserves at a record low and the island of 22 million struggling to pay for essential imports of food, medicine and, most critically, fuel. Industries like garments, a big dollar earner in the Indian Ocean nation, are left with fuel for only about a week to 10 days. Current stocks of the country will exhaust in just under a week based on regular demand, Reuters calculations show. Sri Lanka will issue fuel only to trains and buses, medical services and vehicles that transport food starting Tuesday until July 10, Bandula Gunewardena, the spokesman for the government cabinet, told reporters. Schools in urban areas will be shut and everyone is urged to … [Read more...] about Sri Lanka stops fuel supply to non-essential services as crisis worsens

- A + A KUALA LUMPUR (June 28): The ringgit opened broadly higher against the US dollar on Tuesday morning (June 28) as risk appetite for the local currency strengthened following the positive revision of Malaysia’s long-term sovereign credit ratings outlook by S&P Global Ratings (S&P). At 9am, the local currency had risen to 4.3960/4000 against the greenback from 4.4030/4060 at 6pm on Monday. “This improvement (the positive revision) surely strengthened investors’ sentiment and confidence in Malaysia’s economy,” an analyst told Bernama. In its latest report on Malaysia, S&P foresees the country’s gross domestic product (GDP) growth at 6.1% in 2022 and 5% in 2023. The steady growth momentum is supported by high commodity prices, strong exports and domestic demand with the reopening of the economy. Additionally, S&P affirmed the "A-" rating for long-term and "A-2" for short-term foreign currency sovereign credit ratings, as well as Malaysia’s … [Read more...] about Better rating revision lifts ringgit in early trade

Dear Reader, The Panorama newsletter is sent to Moneycontrol Pro subscribers on market days. It offers easy access to stories published on Moneycontrol Pro and gives a little extra by setting out a context or an event or trend that investors should keep track of. Volatility, uncertainty, and unpredictability have been go-to words for writers and analysts tasked with writing about markets in the past few years. That’s not changed despite the market taking a bearish turn. Just a while ago, it seemed like the mother of all bloodbaths was just around the corner. No, what you saw was a mere prelude, they said. But the markets are on a different trip now. At 12.45 pm, the Sensex was up 1.2 percent above Friday’s close and 4 percent above its recent low made in mid-June. What is this, a bear market rally and how many dead cats will bounce before none are left? Can somebody call the bottom already? Close This time, the white flag waved by the bears has the “we … [Read more...] about Moneycontrol Pro Panorama | ​Can somebody call the bottom already?

Share to Twitter Share to Linkedin Retailers might have thought they’d seen enough disruption these past two years to last a lifetime. If only this was the case. The industry must once again confront a new set of economic headwinds. From high inflation to eroding confidence to ongoing supply chain issues, pressure on the global economy is growing — and the effects are weighing heavily on both consumers and businesses. Consider the recent decline in consumer spending and sentiment. Retail sales have contracted since 2021, and consumer sentiment is down significantly, nearing levels we last saw at the time of the 2008 financial crisis. Clearly, inflationary pressures are a factor here. High and persistent inflation is eating into incomes and consumer purchasing power. Discretionary spending is pulling back as a result. However, Accenture’s ACN analysis indicates other dynamics are also in play. Take the fact that consumer spending on durable … [Read more...] about From Supply Crunch To Supply Glut: How To Navigate Uncertainty?

Siddharthaa Bhaiya, Managing Director and Fund Manager of Aequitas, said their investment philosophy is guided by a multibagger approach that identifies long-term potential through extensive in-house research. They invest in Indian listed equities in small and mid cap space and identify companies that are leaders by way of margin or sales in their respective sectors. Siddharthaa Bhaiya added that they hold stocks through their entire wealth creation journey making average holding period approximately 4-5 years. In an interview to Moneycontrol, he said they do see potential in the auto space. Here are edoited excerpts from that interview: What is your investment philosophy and what is your suggestion to the new-age investors? Close Don't try to time the market : As famously said by Peter Lynch: “Far more money has been lost by investors trying to anticipate corrections, than lost in the corrections themselves.” Nobody can predict what is going to happen … [Read more...] about Don’t try to time the market, advises Siddharthaa Bhaiya of Aequitas

Share to Twitter Share to Linkedin Glastonbury is in the air with both the record-breaking youngest ever headliner, Billie Eilish, and the oldest, Sir Paul McCartney, taking to the stage. Festival goers have splashed the cash on tickets, transport and tents; all of which might paint a picture of positivity when it comes to the UK’s finances. The reality is much more off-key. Consumer confidence is now at its lowest level for years as many face a cost-of-living crisis, with essentials such as food and fuel prices continuing to spiral. GfK data confirms this. The data company's monthly index which ‘checks the temperature’ of consumer confidence decreased by one point , to -41, in June and a record low. The survey which has been running for over forty years, asks consumers how they feel about personal finances and the UK economy. Despite covering past periods of recession and hardship, today’s consumers say they are feeling financial pain like … [Read more...] about Brits Enjoy Summer Of Festivals & Travel Before Increased Economic Worries

Share to Twitter Share to Linkedin There are retail giants – Macy’s, Dillard’s, Nordstrom JWN . Bloomingdale’s to mention just a few. Will they survive and what will they be like? Are they the dinosaurs of yesteryear? Recently there was a shopping center convention in Seattle, hosted by Nordstrom and under the aegis of IGDS (International Group of Department Stores}, that discussed the past, present and especially the future. Some observations are included below. 1. Changes will occur, and it is important to know that young people, millennials and GenZ want to have a say in what stores will be like. They will dictate content, rapid service and especially whether stores have taken action on sustainability. 2. Sustainability must include reduction of gases, conservation of energy, storage and usage of solar energy, 3. To compete and to survive in the current, challenging environment, brands require economies of scale that are often beyond their … [Read more...] about How Department Stores Will Survive

- A + A NEW YORK/BENGALURU (June 27): Wall Street's main indexes fell after opening higher on Monday, as a rally last week on easing concerns over inflation lost steam, with high-growth stocks leading declines. "We had a nice rally last week, so I think we're seeing a little bit of profit taking this morning," said Dennis Dick, a proprietary trader at Bright Trading LLC in Las Vegas. "The stocks that were up the most last week are the ones getting hit the hardest here today." The tech-heavy Nasdaq Composite index, which gained 7.5% last week, fell 0.7% to lead declines among the three major indexes. Investors were betting on the retreat in oil prices from the three-month highs hit in June to potentially ease inflationary pressures and likely push the Federal Reserve to moderate its aggressive policy tightening. However, data on Monday showed new orders for US-made capital goods and shipments increased solidly in May, pointing to sustained strength in business … [Read more...] about Wall Street sheds opening gains on losses in high-growth stocks