11/29/2023 0 Comments Dow numbers now![]() ![]() The increase in sales prices has made it more difficult for people to buy a home, as a result increasing the number of people looking to rent. Since March 2020, the estimated median rent of new leases has increased by double digits in several Texas cities. HOUSTON, TEXAS - FEBRUARY 07: A 'For Rent' sign is posted near a home on Februin Houston, Texas. The move would be historic – the last time the Fed delivered a 75 basis point hike was in November of 1994, nearly three decades ago. But we are changing our forecast to call for a 75 hike on June 15.” “We realize it is a close call and that it could play out in either June or July. “We think the US central bank now has good reason to surprise markets by hiking more aggressively than expected in June,” wrote Barclays analysts in a research note on Friday. The central bank is expected to announce a half-percent interest rate hike next week, but based on this news it could decide to go higher. Already worried about a possible economic downturn, they now fear that the Federal Reserve will recognize inflation as entrenched in the economy and increase interest rates further. The core index, which excludes food and energy prices, rose by 6%, slightly higher than estimates of 5.9%. Economists had forecast an 8.3% increase. The May consumer price index rose 8.6% year-over-year, its highest level since 1981. The S&P 500 shed 2.7% and the Nasdaq dropped about 3%. (INDU) plunged after a key inflation report missed estimates and showed a higher-than-anticipated increase in the price of consumer goods, closing down 880 points for the day, or 2.5%. It’s been yet another week of losses for US markets after steep drops on Friday. ![]()
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