The number of New Yorkers applying for emergency grants to stay in their homes is skyrocketing — as the number of people staying in homeless shelters reached an all-time high last weekend, records show. There were 82,306 applications for one-time emergency grants to prevent evictions in fiscal 2016, up 26 percent from 65,138 requests the […]
By Jim Clifton, Chairman and CEO at Gallup The Invisible American I’ve been reading a lot about a “recovering” economy. It was even trumpeted on Page 1 of The New York Times and Financial Times last week. I don’t think it’s true. The percentage of Americans who say they are in the middle or upper-middle […]
California home sales started to temper out in August, following the previous month’s tumble in sales. Not too long ago, California’s housing market reached a nearly four-year high, but the strong momentum quickly came to a halt in July when sales fell from previous year for first time in 18 months. Now, according to that latest report […]
Diana Olick Sales of million-dollar homes are softening. It’s not a correction, experts caution, just something of a breather brought on by volatility in the U.S. stock market and an oversupply of luxury homes. Sales of homes priced above $1 million fell 4 percent in July from a year ago, according to the National Association […]
by Tyler Durden One month ago, we said that “it is not looking good for the US housing market”, when in the latest red flag for the US luxury real estate market, we reported that sales in the Hamptons plunged by half and home prices fell sharply in the second quarter in the ultra-wealthy enclave, […]
By Michael Snyder You are about to see a chart that is undeniable evidence that we have already entered a major economic slowdown. In the “real economy”, stuff is bought and sold and shipped around the country by trucks, railroads and planes. When more stuff is being bought and sold and shipped around the country, […]
By Michael Snyder We have seen this story before, and it never ends well. From mid-March until early May 2008, a vigorous stock market rally convinced many investors that the market turmoil of late 2007 and early 2008 was over and that happy days were ahead for the U.S. economy. But of course we all […]
By Michael Snyder Should we be alarmed that the number of job cuts announced by large U.S. companies was 35 percent higher in April than it was in March? This is definitely a case where the trend is not our friend. According to Challenger, Gray & Christmas, U.S. firms announced 65,141 job cuts during April, […]
By Michael Snyder We continue to get more evidence that the U.S. economy has entered a major downturn. Just last week, I wrote about how U.S. GDP growth numbers have been declining for three quarters in a row, and previously I wrote about how corporate defaults have surged to their highest level since the last […]
(ZEROHEDGE) The Census Bureau released its quarterly update on residential vacancies and homeownership for Q1 which is closely watched for its update of how many Americans own versus rent. It shows that following a modest pickup in the homeownership rate in the prior two quarters, US homeowners once again posted a substantial decline, sliding from 63.8% […]
