Australia does better on economic mobility than many countries, but it may be harder for future generations

Australians are still more likely than people in many other developed nations to be able move upwards from the position they were born into, but Treasury researchers have warned that may become harder. Key points: Treasury research has found Australia still has relatively high economic mobility Second-generation Australians are more likely to improve their economic … Read more

Number of birds culled due to HPAI surpasses 2015 outbreak

WASHINGTON — The latest reports of highly pathogenic avian influenza (HPAI) bring the current total number of birds culled in the United States well above the estimated record of 50 million birds from the wave in 2015. The running total sits at 52.5 million birds after a spike during the Thanksgiving holiday weekend, according to … Read more

As mortgage rates dip below 7%, ‘millennials should jump at a 6% mortgage like bears grabbing for honey’

Mortgage rates took a slight dip below 7% after a better-than-expected economic report showed inflation was easing. One financial pro says the dip is an opportunity prospective homebuyers shouldn’t miss out on. “Millennials should jump at a 6% mortgage like bears grabbing for honey,” Bill Smead, founder and chairman of Smead Capital Managment, told MarketWatch. … Read more

Why the housing market should brace for double-digit mortgage rates in 2023

Even if Federal Reserve Chairman Jerome Powell and his cohorts stopped hiking policy rates soon, the 30-year fixed mortgage rate still would climb to 10%, according to Christopher Whalen, chairman of Whalen Global Advisors. That’s because the Fed’s torrid pace of rate increases in 2022 takes time to seep back into mortgage rates, especially with … Read more

How fast fashion uses human psychology to keep you buying more

In an era when buying stuff has never been easier, Amy Shardlow describes herself as a “shopaholic”. She says buying new clothes always follows a certain pattern: first, they help her feel confident or to forget the daily stresses in her life. Then the high fades away and is replaced by a familiar feeling. “If I … Read more

The major county in America where home prices just dropped the most is …

Buyers may be starting to see home price drops in some areas. (Getty Images) Home buyers have watched as home prices marched upwards for the past few years, but now many of you will finally get some relief — at least in some spots. “Home price appreciation has slowed dramatically in most markets, and there … Read more

U.S. will turn into a buyers’ housing marke in 2023, most experts say. Here’s where you’ll see the biggest declines.

Frustrated by the housing market? Housing experts say they’re expecting the market to tip back into buyers’ court by 2023, according to a new report. Mortgage rates are approaching 7%, but home prices are only slowly coming back down and inventory is still tight compared to pre-pandemic levels. Still, the U.S. housing market will shift … Read more

TikTok being taken over by people sunning their backsides

Say it taint so. A new round of TikTok videos has people sunning their perineum again. The supposed wellness trend — which involves enthusiasts pointing their bare butts to the sky and getting exposure where the sun usually doesn’t shine — is sweeping across the video-sharing platform. “It’s a feeling you can’t really describe unless … Read more

These are the 10 major housing markets that just saw the biggest declines in home equity

Plus, what to know if you’re thinking about taking out a HELOC. Getty Images/iStockphoto As home prices soared in recent years, homeowners enjoyed record levels of tappable home equity, which is the amount of money a homeowner can borrow against while keeping a 20% equity stake. But that’s all changing as home prices begin to … Read more

‘An increasing squeeze on list prices.’ 3 top economists and real estate pros on the housing markets where home prices will drop the most this year

Some markets may be more vulnerable to home price cuts than others, pros say. Getty Images Buyers in some markets are already getting — or may soon get — some relief in the form of lower home prices, pros say. Already, in the last 4 – 8 weeks, experts have noticed downward price pressure in … Read more