News & Politics
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THE 2022 HOUSING MARKET:
CNBC reports that “the number of new listings last week jumped 8%, right as the average borrower is paying 38% MORE than they would for the same home, a year ago.” In response to that, 12% of homes had a price drop…which is 9% HIGHER than a year ago, with these kinds of drops occurring faster each month.
In addition to that, The Federal Reserve is warning of a Housing Market Bubble - They show that - throughout 1999 through 2008 - the market experienced irrational exuberance, just like it’s showing NOW - from 2020 until…who knows how long. Housing is so popular, too, that 11 out of 25 countries are seeing the EXACT SAME EXCITEMENT for the real estate market - with CANADA leading them all, with the largest price gain, year over year.
Even though there is an imbalance between the “Price to rent ratio,” “price to income” IS HIGHER than normal…but, still not “exuberant.” They explain that recent patterns may prove to be a less-useful measure of home affordability, because low interest rates and stimulus allowed more money to be spent…so, this chart MIGHT be overly cautious when valuing something we haven’t quite seen before.
FIRST: They believe that MILLENNIALS AND GEN Z WILL KEEP THE MARKET STRONG.
They reported that most first-time buyers are younger than 40, which means the buyer pool is deep, and indicates that demand will likely remain elevated.
SECOND: SUPPLY CAN’T KEEP UP WITH DEMAND
They say that the “supply-demand imbalance is the primary reason home prices have escalated so rapidly”
THIRD: UNLIKE 2008, BUYERS ARE LESS LIKELY TO DEFAULT ON THEIR MORTGAGE.
Today, more than 76% of mortgages go to borrowers with a credit score EXCEEDING 760, lending standards have increased, and home equity is at a record high.
FOURTH: A DECLINING ECONOMY COULD IMACT HOUSING VALUES.
They mention that, rising interest rates could put a damper on consumer spending, which increases the likelihood of a recession.
AND FIFTH: MOST PREDICTIONS INDICATE THAT HOUSING PRICES WILL CONTINUE TO RISE - BUT SLOWER.
For instance, the Mortgage Bankers association predicts a 4.8% increase throughout 2022…CoreLogic expects a 6% increase…and Realtor.com predicts a 2.9% increase.
That’s why, I believe - the biggest deterrent for housing prices is going to be: “How quickly do interest rates go up, how much inventory is there on the market, and how many people want to buy a home?”
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An audio tape of an exchange between the Ukrainian soldiers on an island in the Black Sea and an officer of the Russian Navy has emerged. All of the soldiers - who were defending Snake Island - are reported to have been killed, according to President Volodymyr Zelensky. This audio has been confirmed and verified as authentic by the Ukrainian Interior Ministry.
Former CIA director and retired US Army Gen. David Petraeus tells CNN why providing “a way out” for Putin out of ongoing diplomatic negotiations between Ukrainian and Russian delegations will prove critical.
Russia bombs residential area of Kharkiv and intensifies Kyiv assault as talks with Ukraine end
Russia beefs up assaults in key cities, raising fears of more civilian deaths
Ukrainian President Zelensky vowed not to allow the Russian invasion to break him and his people, in a powerful speech to the European Parliament that reduced a translator to tears, reports our Brussels correspondent Joe Barnes.
Addressing MEPs over video-link, the wartime leader said every square in his country would be renamed “freedom square” in honour of Ukraine’s fight against the Russian invasion.
Nobody is going to enter and intervene with our freedom,” he said, from his secret bunker in Kyiv. “Believe you me every square, as of today, no matter what it’s called, is going to be called freedom square in every city of our country.
“Nobody is going to break us, we’re strong, we’re Ukrainians.”
President Zelensky also challenged EU leaders to “prove” they are Europeans by backing his bid for Ukraine to join the bloc.
“Prove you are with us, do prove that you will not let us go, do prove that you, indeed, are Europeans and then life will win over death and light will win over darkness,” he said.
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John Oliver wasted little time in addressing the major news event of the past week on Sunday’s 'Last Week Tonight': Russia’s invasion of the Ukraine.
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John Oliver Blasts CNN for AppleBee’s Ad, George W. Bush & Vladimir Putin I THR News
The Hollywood Reporter
During CNN’s preliminary coverage of the war between Ukraine and Russia, the network thought it was the perfect time to air a corny Applebee’s ad as they took a break from coverage. Even better, the ad ran side-by-side with a live stream of the Ukrainian capital Kyiv with the massive headline “Russia Invades Ukraine”. Cenk Uygur, Adrienne Lawrence, and Jackson White discuss on The Young Turks. Watch LIVE weekdays 6-8 pm ET. http://youtube.com/theyoungturks/live
Read more HERE:
"Amid Thursday morning coverage of the air attacks in Ukraine by Russia, CNN aired an Applebee’s ad — side-by-side with the headline “Russia Invades Ukraine” – and reactions were not favorable.
In response, Applebee’s suspended its ads on the network, telling Forbes.com it was “deeply concerned about the situation in Ukraine.”
"When we were made aware that our ad was placed in this manner, we immediately reached out to CNN to pause our advertising on their network,” Applebee’s said in the statement. “It never should have aired, and we are disappointed in the actions of the network.”
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CNN's Matthew Chance shows what it looks like at an airbase outside the Ukrainian capital of Kyiv, where Russian airborne troops are engaged in a fire fight with the Ukrainian military. #CNN #News
CNN's John King lays out how potential Russia control of Ukraine could remove a buffer between NATO member nations and Russia, creating a new Iron Curtain 32 years after the Berlin Wall collapsed.
The Ukrainian Foreign Minister says that a Russian missile or rocket hit an apartment building in Kyiv during fighting around the Ukrainian capital. CNN's Michael Holmes and Alex Marquardt report.
#Ukraine #News #AlexMarquardt
Ahead of President Biden’s State of the Union address, which comes amid the Russia-Ukraine crisis and ongoing domestic concerns, CNN’s John Avlon discusses what Americans could expect to hear.