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Housing prices in the US over the past 6 months have risen faster than wages, Bloomberg reports. Housing from March 31, 2012 to the present, has risen in price by 60%. Over the same period, household income growth was less than 30%, according to the Bureau of Economic Analysis. According to Bankrate.com, the average rate on a thirty-year mortgage is currently at 4.74%, an increase from 3.85% at the beginning of the year. Experts expect its further growth in 2019. Cities in which the demand for homes is tied to the indicators of shares of large employers show the most significant increase in housing prices. So, thanks to the growth of Amazon.com shares, its profitability from the first quarter to September 4, 2012 increased to more than 900%, and housing prices in Seattle, where the company is based, increased almost 2 times.
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 ...
Asian shares recorded a turbulent session on Friday as weak economic data from the United States and surging coronavirus infections worldwide dragged market confidence. The decline followed despite upbeat U.S. tech gains and signs of rebound ...
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 ...
The dollar sat near two-year lows on Wednesday as the United States struggled to control the coronavirus outbreak, breaking hopes for a fast economic recovery. The gloomy outlook for the U.S. economy is expected to urge the Federal Reserve ...
Oil prices fell on Monday as a surge in coronavirus cases and the escalating U.S.-China tensions prompted a safe-haven bid. Brent crude slid 0.2%, or 8 cents, at $43.26 per barrel. U.S. West Texas Intermediate crude fell 0.2%, or 7 cents, ...
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