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How Gen Z outpaces past generations in the homeownership rate
Gen Z has taken the lead in the homeownership race. In 2023, the homeownership rate for adult Gen Zers, or those between 19 and 26 years old, was higher than the homeownership rate for millennials and Gen X when they were 24, according to Redfin, a real estate company. The race is close, though. About…
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Putin’s flagship Arctic gas project struggles to lure customers
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South Dakota considers ending state grocery tax
South Dakota voters will determine the fate of Initiated Measure 28, which would eliminate the state sales tax on groceries. Illinois, Oklahoma, Kansas, Arkansas, Utah, Tennessee, Alabama and Virginia have eliminated or reduced this tax, according to the Urban Institute Tax Policy Center. “Grocery taxes are regarded as a regressive form of taxes, and cutting…
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Reeves plans to ‘fiddle’ fiscal rules to boost borrowing, claim Tories
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Congress needs to step up as Harris pushes housing
Vice-President Kamala Harris’s recent comments on housing policy remind us that the Affordable Housing Credit Improvement Act (AHCIA), first introduced in 2016 by the 114th Congress, has yet to make it to a President’s desk. Eight years on, it may be worth considering other legislative options to stimulate affordable housing production. The ACHIA would reduce…
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Nvidia is a no-go for over half of this ultra-rich club’s members with assets worth $165 billion
In this article NVDA Follow your favorite stocksCREATE FREE ACCOUNT Sopa Images | Lightrocket | Getty Images More than half of Tiger 21’s members don’t invest in Nvidia, according to a recent asset allocation report released by this network of ultra-high-net-worth investors and entrepreneurs. The network’s second-quarter asset allocation report revealed that 57% of its…
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Mortgage refinance demand is 94% higher than a year ago, as interest rates fall again
File photo Patrick T. Fallon | Bloomberg | Getty Images Mortgage demand is now heavily skewed toward refinancing, as interest rates declined for the fifth straight week. Total mortgage application volume rose just 1.6% last week, compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. The average contract interest rate…
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UK regulator to slash maximum fraud losses banks are forced to cover
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August closes in black, first time since 2019
Municipals were little changed to firmer in spots Tuesday as U.S. Treasury yields fell while equities sold off to start September. “With August now behind us, munis continued the summer rally with [the month] returning 0.79%, pushing year-to-date gains to 1.30%,” said Jason Wong, vice president of municipals at AmeriVet Securities. This marked the first…
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Global stocks slide as investors fret over US slowdown
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North Texas Tollway’s $1.126 billion refunding includes tender offer
The North Texas Tollway Authority is seeking savings through bond refundings and tenders in a $1.126 billion deal that tops this week’s municipal bond sale calendar. The NTTA scheduled a Thursday pricing for the tax-exempt debt offered in two series – $446.14 million of first tier revenue bonds to fund a tender offer for taxable…
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JPMorgan economist says China’s housing market crash is still not over
China’s troubled housing market will continue to see softness as a slew of government stimulus and support measures have not been “satisfactory” in propping up the sector, according to a JPMorgan economist. The “housing market crash is still not over yet,” Haibin Zhu, chief China economist at JPMorgan told CNBC’s “Squawk Box Asia” Monday, adding…
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Concern over housing costs hits record high across rich nations
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Municipal Electric Authority of Georgia to sell $373 million in bonds
The Municipal Electric Authority of Georgia’s $373 million of subordinated bonds are scheduled to price on Sept. 5. The bonds are rated A2 by Moody’s Ratings and A-minus by both S&P Global Ratings and Fitch Ratings. The ratings have stable outlooks. BofA Securities will serve as senior manager and Goldman Sachs and Wells Fargo Securities…
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UK to halt exports of some arms to Israel citing possible law breaches
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California lawmaker offers municipal bond solution to insurance crisis
A proposal to help solve California’s property insurance crisis would tap the bond markets and could involve billions of dollars in debt issuance. The debt would be issued through the California Infrastructure and Economic Development Bank. Assembly Bill 2996 authored by Assemblymember David Alvarez, D-San Diego, would help stabilize the insurance marketplace by bolstering the…
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Rupert Murdoch’s property group considers bid for UK’s Rightmove, sending shares 21% higher
Rupert Murdoch, chairman emeritus of media empire News Corp. Axelle/bauer-griffin | Filmmagic | Getty Images LONDON — Rupert Murdoch-owned REA Group said Monday it is contemplating a takeover offer for U.K. property portal Rightmove in a bid to create a global digital real estate business. The Australian property listings company, which is controlled by Murdoch’s…
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Alternative for Germany wins its first regional election
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July PCE reading bolsters outlook for Fed rate cut
Federal Reserve chair Jerome Powell said in a speech in Jackson Hole, Wyo., in August that inflation has been cooling to the point where the central bank is willing to cut the Federal Funds Rate for the first time in four years. Bloomberg News Inflation continued to show signs of easing in the Federal Reserve’s…
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Israel retrieves bodies of six hostages, including US citizen
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