Share to Twitter Share to Linkedin The pandemic fueled a meteoric rise in rental prices, and a severe shortage of supply isn’t helping. The nation’s median rental price hit its latest new high of $1,849 per month in May, representing a 26.6% increase since 2019 before the pandemic began, according to the Realtor.com monthly rental report released today. A key factor driving the ongoing rent surge is a lack of supply, as rental vacancy rates, which were already trending lower, have taken a sharp dive during the pandemic. These trends are magnified in the biggest cities that tend to attract younger residents, many of whom are in the early stages of their careers and looking for the flexibility in their living situations. “We do not have enough housing, and increased costs are a concern for all, including the 40 million Americans who choose to rent,” said Bob Pinnegar, president and CEO of the National Apartment Association. “The white-hot housing market … [Read more...] about Sky-High Rental Prices Surpass Pre-Pandemic Levels By More Than 25%
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U.S. stocks continued to claw their way back last week, especially growth stocks . For the week, the Nasdaq posted a gain of 2.2% and the S&P 500 rose 0.4%. The Dow? Not so much, sliding just 0.1%. A blowout jobs report for July offered up another dose of good news for the economy and not-so-good news for the stock market, but equity investors hung in there. U.S. employers added 528,000 jobs to their payrolls last month , which was more than twice what was expected, and that added credence to the Federal Reserve 's stance that the U.S. economy is not in a recession given the continued strength of the labor market. So, the thinking goes, the Fed will continue to be aggressive in raising interest rates to cool down inflation, because it's not impacting companies' willingness to hire. That led to a steep selloff in U.S. Treasurys, with the yield on the 10-year Treasury note ending the week at 2.83%. Oil prices continue to tumble, hitting their lowest level since early … [Read more...] about Live from InvestFest with Downtown Josh Brown, BitBoy Crypto, and Lamar Wilson
Representative image The Reserve Bank of India announced measures to ease forex inflows. This explainer helps us understand the measures and objectives behind them. What are forex inflows and why are they needed? One of the major factors of a country’s growth is higher savings. Savings are channelised into investments, which help drive the growth of an economy. If the domestic savings rate is low or the investment rate is higher than the savings rate, foreign exchange savings can be used to bridge the gap. Foreign exchange savings are nothing but net inflows of foreign capital. The Indian economy was liberalised in 1991 and efforts were made to attract forex inflows. There are various categories of forex such as Foreign Direct Investment (FDI), Foreign Portfolio Investment (FPI), NRI deposits, and External Commercial Borrowings (ECB). The government and the Reserve Bank of India welcome equity flows such as FDI and FPI, but are cautious about debt inflows because heavy … [Read more...] about MC Explains | Will steps to liberalise forex inflows help the rupee?
Share to Twitter Share to Linkedin Both oil and gas exported from Russia bring in significant revenue that can be used to support the Russian war in Ukraine. But the export revenue from oil sales is much greate r than export revenue from gas sales. If the West stops buying oil this really hurts Russia – more than if the West stopped buying gas. Back in May, the EU agreed to ban all Russian oil imports by the end of 2022, at least those that are delivered by sea. That was a good move. Russia threatens to cut gas supplies to the European Union. Russia has realized that cutting natural gas doesn’t affect their export revenue (like oil does) but it affects the economies of EU countries a lot more. Russia supplied the EU with 40% of its gas last year , with Germany, Italy, and Netherlands the top three importers in actual volumes of gas. Germany had imported more than 50% of its gas from Russia via the Nord Stream 1 pipeline. By the end of June, … [Read more...] about Russia Threatens, EU Reduces, US Industry Helps To Untangle The Natural Gas War In Europe.
Share to Twitter Share to Linkedin An investor group comprised of Bain Capital Private Equity, Bow Street and Adama Partners completed the acquisition of online diamond and jewelry retailer, Blue Nile, Friday for $40.75 per share in cash, the Seattle-based company said in a statement. A Securities and Exchange Commission 8-K document said the “total amount of funds used to complete the merger and related transactions and pay related fees and expenses was approximately $520 million.” The transaction was first announced on Nov. 7, 2016 , and was approved by Blue Nile's shareholders on February 2. Trading in Blue Nile’s common stock on NASDAQ will end February 21. “Blue Nile has disrupted and transformed the way consumers shop for and purchase diamonds and fine jewelry by creating price transparency while simultaneously providing value to suppliers,” said Blue Nile chairman, CEO and president Harvey Kanter. “As we enter the next phase of growth, Blue Nile will … [Read more...] about Blue Nile Acquisition Completed, Company To Go Private
Share to Twitter Share to Linkedin The growth trajectory of the largest national entitlement programs — Social Security, Medicare, and Medicaid — has many concerned, understandably so. But state and local unfunded pension liabilities must also be counted among the major challenges to U.S. fiscal health. According to Pew research, unfunded state pension liabilities reached a combined $1.25 trillion in 2019. Other projections that assume more modest investment returns find total unfunded state pension liabilities today in excess of $8 trillion . The trillions of dollars in growing unfunded public pension liabilities, for which taxpayers are ultimately on the hook, is a problem that could soon be exacerbated by a new federal tax in the Inflation Reduction Act (IRA) that will diminish state and local pension plan returns. “We should not increase taxes, and we did not increase taxes,” Senator Joe Manchin (D-W.V.) said about the IRA on NBC’s Meet the … [Read more...] about Stock Buyback Tax Will Harm State & Local Pensions
Share to Twitter Share to Linkedin AI is learning from data. Practical AI is the successful (and unsuccessful) learning from data by enterprises. “Learning” in the context of AI is computer-based data classification based on examples. Today’s AI (“deep learning”) is a method of statistical analysis that can classify lots and lots of data along many dimensions. In the last decade or so it has been applied successfully to a variety of tasks, with researchers demonstrating its usefulness first in image analysis and later in text analysis (“natural language processing” or NLP). These breakthroughs have encouraged many researchers to focus their work on AI. The total number of AI publications grew from 162,444 in 2010 to 334,497 in 2021, according to the 2022 AI Index Report . In 2021, a PubMed search of papers with the keyword “deep learning” returned 14,685 citations, up from 107 papers in 2010. What has been the real-world impact of this … [Read more...] about Recent Anecdotal Evidence Of Practical AI