Page 41 - Hillary Hoffower News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Thomson Reuters The Fed is "carefully" watching the housing market as huge demand sends prices soaring, Chair Jerome Powell said. The central bank doesn't see "the kind of financial stability concerns" that fueled the 2008 crash, he added. Powell said he hopes homebuilders react "and come up with more supply," which would also boost job growth. The housing market boom has caught the Federal Reserve 's attention. By several measures, the US housing market is running at its hottest level since the mid-2000s bub...

Lucy Nicholson/Reuters The economic theory of "Optimum Currency Area" (OCA) might explain why. The US is commonly thought of as an OCA, but $1 goes a lot further in Mississippi than it does in Hawaii. The federal minimum wage is currently at a standstill. President Joe Biden campaigned on raising the minimum wage from $7.25 to $15. But the $15 proposal was struck from his stimulus plan for not meeting the rules of budget reconciliation. Progressives have long been campaigning to hike the minimum wage, but have met with opposition from Republicans as well as more ...

JodiJacobson/Getty Images Affordable home sales only grew by 7% in the same period. The disparity is a byproduct of America's K-shaped recovery as wealth inequality deepens. Luxury home sales are soaring. They increased by 41.6% in the first three months of 2021 over the first three of 2020, according to a recent Redfin report that defined luxury homes as those selling for an average of $975,000. It's a sharp contrast from sales for what Redfin deems "affordable" homes (those selling for an average of $184,400), which only increased by 7% in the same time frame. ...

Pool/Getty Images There's a wealth gap among very high net worth individuals, per a new Wealth-X report. Those worth $15 million to $30 million make up just 16% of that cohort, but account for double the wealth. It shows just how concentrated wealth really is at the top, and how stark inequality is. Even millionaires have a wealth gap. One out of every 10 millionaires has a net worth between $5 to $30 million, which Wealth-X defines as "very high net worth" (VHNW) individuals in its annual report. But the wealth among this wealthy class is lopsided.  Two-thirds ...

At least, through stock and bond investments. The generation can expect average annual real returns of just 2% on their investment portfolios, according to Credit Suisse's global investment returns yearbook. That's a third less than the 5%-plus real returns that millennials, Gen X, and baby boomers have seen. Credit Suisse's analysis took in average investment returns since 1900 and forecasted them going forward for Gen Z.  That difference sounds slim in the short-term, but looks a lot larger in the long-term. Imagine a millennial investing $1,000 for 20 years at the 5% return they've bene...