Economic News

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mpaer said:
I am truly amazed at how many people buy houses at .6 -1 million. All I mean is how many folks have that kind of money
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When interest rates were low, it wasn't that unaffordable (when you take account of tax breaks). I was making $120K a year teaching law, while paying my ex- between $2500-$3000 a month in child support, and I didn't lose my $500K+ house. Granted, I was running in the red for a while and had to dip into savings, but I think my situation was sort of extreme. I get uniquely fucked in family court. Well, not uniquely but for a number of reasons I think I get screwed above average.
 
lawtig02 said:
I think this is right but it will still be a while. From what I have read elsewhere, another part of the problem is that an unusually large percentage of new home construction is in the “luxury” space, which doesn’t help many first-time buyers.

I suspect there are some tax policies that could be enacted to incentivize older Americans to speed up the downsizing/relocation trend, but zero chance anything like that could get approved in this dysfunctional political environment. I just hope young people will be sufficiently upset in 2026 and 2028 to vote to punish the people currently in power.
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there's also the question of where the housing will become available. I haven't looked at the studies yet but wonder if they are treating all boomer homes that could open up as equal. Having homes open up in, say, Gary IN or Hicklick KY, doesn't really help the problem.
 
mpaer said:
I am truly amazed at how many people buy houses at .6 -1 million. All I mean is how many folks have that kind of money
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Exactly, even with 20% down a 5% loan is going to take $4500 a month for P&I. Then tack on insurance and taxes...
 

US manufacturing contracts for sixth straight month amid tariff drag​


www.reuters.com

US manufacturing contracts for sixth straight month amid tariff drag

U.S. manufacturing contracted for a sixth straight month in August as factories dealt with the fallout from the Trump administration's import tariffs, with some manufacturers describing the current business environment as "much worse than the Great Recession."
www.reuters.com www.reuters.com

“… The ISM said its manufacturing PMI edged up to 48.7 last month from 48.0 in July. A PMI reading below 50 indicates contraction in manufacturing, which accounts for 10.2% of the economy. Economists polled by Reuters had forecast the PMI would rise to 49.0.…”
 
nycfan said:

US manufacturing contracts for sixth straight month amid tariff drag​


www.reuters.com

US manufacturing contracts for sixth straight month amid tariff drag

U.S. manufacturing contracted for a sixth straight month in August as factories dealt with the fallout from the Trump administration's import tariffs, with some manufacturers describing the current business environment as "much worse than the Great Recession."
www.reuters.com www.reuters.com

“… The ISM said its manufacturing PMI edged up to 48.7 last month from 48.0 in July. A PMI reading below 50 indicates contraction in manufacturing, which accounts for 10.2% of the economy. Economists polled by Reuters had forecast the PMI would rise to 49.0.…”
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Are you sure this isn't fake news ? Trump has said he has brought back millions of manufacturing jobs in the past 8 months.
 
nycfan said:
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I have no idea what to make of that diagram. First, 3.3% doesn't seem remarkably low. It seems low compared to the post-pandemic years -- well, duh. Second, I don't know what the "hiring rate" is supposed to be. Is 3.8% a good number? Should it be 5%? What is the significance of each basis point of lower rate?
 
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