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In 2018, the value of residential real estate grew by only 1.2%. This is the lowest growth rate since 2012, the real estate market broker, Redfin Corp, reported. The price of the property averaged $289.8 thousand in December. The reason for the decline in the cost of housing in the US is associated with tight monetary policy of the Federal Reserve System (Fed) and an increase in interest rates. Redfin senior economist sees no threat to the market in the current situation, since “prices cannot grow faster than wages year after year.” At the same time, housing prices in the US fell by 11% in December. This is a record fall from 2016.
Oil traded higher on Friday, further reclaiming lost ground from three-week lows in the previous session as the COVID-19 situation continued to dent the global economy as well as oil consumption. Brent crude gained 0.3%, trading at $43.08 ...
June had seen Japan’s industrial output breaking its four-month slump. The recuperation could be attributed to a modest recovery seen in broader business and consumer activity after the world’s third-biggest economy suffered from ...
The second quarter had seen Australian consumer prices dropping by a record. This could be attributed to the coronavirus crisis dragging child care cost and petroleum prices, inflicting a serious damage to years of growth toward higher inflation. Last ...
Spain’s unemployment rose to 15.33% for the second quarter of 2020, according to Tuesday’s data from the National Statistics Institute amid the worsening COVID-19 situation in the country. The unemployment rate surged past the ...
Australia had seen its employment rate dropping 1.1% between mid-June and mid-July, weekly data showed on Tuesday. In addition to this, the southeastern state of Victoria recorded the sharpest plunge in employment as the state suffers from ...
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