An index of sales prices rose at its fastest pace in three years as tariffs wound their way into the supply chain.
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Prices for existing homes in the US inched up just 0.2% in July, according to a National Association of Realtors report published Thursday.
President Trump placed 25% tariffs on aluminum and steel imports in March via executive order, before hiking the rate to 50% on Tuesday.
A full 37% of homebuilders have slashed prices this month, down ever so slightly from a record 38% in July.
The Trump administration’s “drill, baby, drill” ambitions have been hampered by the reality of the global oil market.
The laws of business gravity say that when costs go up, those costs will, eventually, trickle down to the consumer.
On the other hand, the market slowdown is — ever so incrementally — taking a toll on house prices, according to Zillow forecasts.
The economy added just 73,000 jobs in July, according to the Labor Department, well below the expectations of economists surveyed.
Economists anticipated a 2.5% rate, so the better-than-expected top line figure was obviously cause for celebration, right?
The deal sets 15% baseline tariffs on EU goods and commits the bloc to buy billions of dollars worth of US energy and defense products.
While June typically marks the hottest point of the year for home sales, last month instead saw a decline as prices rose to a record high.
While 15% tariffs would be nothing to toast in normal times, it seems pretty good after Trump first threatened Japan with a 24% tariff rate.
Prospective homebuyers and sellers are in a holding pattern, as persistently high mortgage rates and prices keep them from making moves.
The big US banks bested Q1 earnings expectations, and many observers expect big boosts to their Q2 trading desk revenues.
The dollar is the most important currency on earth, adding up to 57.7% of global currency reserves in the first quarter.
The deal is with NYC real estate developer Related, which is seeking to capitalize on the return to office push in the economic metropolis.