Home sales drop for 9th month

Home sales drop for 9th month

Home sales in the United States declined for the ninth month in a row in October as surging mortgage rates and high prices pushed buyers out of the market. Sales of existing homes — which include single-family homes, townhomes, condominiums and co-ops — were down 28.4% in October from a year ago and down 5.9% … Read more

Warren Buffett’s chip-stock purchase is a classic example of why you want to be ‘greedy only when others are fearful’

Warren Buffett's chip-stock purchase is a classic example of why you want to be 'greedy only when others are fearful'

This has been quite a year for Berkshire Hathaway and CEO Warren Buffett. The conglomerate just disclosed its investments in other companies as of the end of the third quarter, and one name — and one industry — stands out. In its 13F filing with the the Securities and Exchange Commission on Nov. 14, Berkshire … Read more

Here are the industries that added the most jobs in October — and the ones falling behind

Here are the industries that added the most jobs in October — and the ones falling behind

The US economy gained 261,000 jobs in October, the Labor Department reported Friday. The latest figure is down slightly from September but still well above economists’ predictions of a 190,000-job gain. Despite high inflation, rising interest rates, slowing economic growth and deepening anxiety about a recession in 2023, the resilient US labor market delivered another … Read more

The dollar will weaken and these stocks could outperform, says Evercore

The dollar will weaken and these stocks could outperform, says Evercore

Hopes that the Federal Reserve may be less aggressive in hiking borrowing costs than previously feared have rippled swiftly across markets in the past week. Stocks have rallied as bond yields have dropped. And it has brought the dollar’s rampage to a juddering halt. The dollar index DXY, which hit a 20-year high above 108.5 … Read more

Opinion: I’ve been building homes for 40 years, and here’s what has to change if the US wants more starter homes

Opinion: I've been building homes for 40 years, and here's what has to change if the US wants more starter homes

As a Savannah-based home builder with more than 40 years of experience, I have seen that every year, entry-level housing is increasingly difficult to build. I am not alone. There are many reasons why builders across the US are unable to build affordably priced homes targeted to the critical first-time home buyer: Rising costs stemming … Read more