Author: josh
“I think it’s maybe understatement of the century to say that global trade is facing the greatest disruption in 80 years.” It’s a significant statement from anyone, let alone Dr. Ngozi Okonjo-Iweala, the director-general of the World Trade Organization. She warned at the Fortune Global Forum in Riyadh that the global economy is in its choppiest waters since the 1930s, no small feat considering that decade saw the Great Depression and the outbreak of the Second World War — and the Great Recession of 2008 is still in living memory. Still, Dr. Okonjo-Iweala, a Nigerian economist who is the first woman…
Gold prices continued to decline Monday while stocks galloped to fresh record territory, stirring doubts about the precious metal’s massive rally. Until a few weeks ago, gold looked unstoppable as it blew through record high after record high and at one point was up more than 60% for the year. But since peaking earlier this month, prices are down 9%, hovering around $4,000 per ounce. Some on Wall Street tried to explain the surge in gold demand by citing the desire to shift away from dollar-denominated assets or by pointing to the so-called debasement trade, which assumes governments will let…
Don’t look now, but high prices might be sucking the sweetness out of Halloween. According to a survey by Shopkick and Trax, while excitement for the holiday is as high as ever, rising costs have shaken shoppers’ candy budgets. In fact, 86% of consumers noticed seeing candy prices increase, while 79% said they had scaled back on how much they spent overall because of it. Of the 6,000+ shoppers surveyed, 83% said they’re capping their candy spending at $100, while 69% plan to keep it closer to $20—a notable dip from past years’ averages of $30–$50. With shoppers hunting for…
If you’re selling your home, unexpected fees like a special assessment can come up at the closing table. A special assessment is an extra charge levied by a homeowners association (HOA) or local government for specific projects, such as repairing a roof, resurfacing roads, or upgrading community amenities. Typically, the seller pays any assessments that are due or approved before closing, while the buyer covers those approved afterward — though this can sometimes be negotiated in the purchase agreement. Whether you’re selling a home in Chicago, IL, San Diego, CA, or Orlando, FL, this Redfin guide explains who typically pays…
In This Article Remember the days when workers retired at 62 with a pension and lived comfortably for the rest of their days? Actually, I don’t remember those days. But plenty of workers still believe in outdated retirement myths that just don’t hold true anymore. Rethink your retirement, or face a rude awakening when the sun sets on your career. Here’s a look at some of this advice that doesn’t work anymore. “Retirement Is the Finish Line” In the 20th century, people worked until that final Friday, when the office threw a retirement party and handed you an engraved watch.…
In This Article I grew up with a basketball in one hand and a box score in the other. My life was all late-night practices, cheap cafeteria food, and coaches yelling about discipline while we ran until the lights went out. I was never the tallest player, but I could see the game before it happened: angles, timing, spacing. That was how I survived on the court. When I got into real estate, I realized it felt a lot like basketball. Scouting markets was just another form of film study. Some cities are all offense with great returns, but no…
In This Article This article is presented by Connect Invest. Prices on the West Coast are sky-high. San Francisco median home prices are over $1.4 million, while LA rents go for an average of $2,760, if not higher. Meanwhile, new coastal rent-control laws are squeezing cap rates and drying up inventory for West Coast landlords, leading to slower rental growth. At the same time, capitalization rates in California for apartments and multifamily homes average between 5% and 7%—well below levels that might justify the risk of buying. Investors are getting squeezed by fewer deals, tighter returns, and tougher exit options.…
This Week In A Nutshell Rates are steady heading into the week following a cool inflation report last Friday, but they could rise even if the Fed cuts as expected on Wednesday—if Fed officials push back on expectations for a subsequent cut in December. Upcoming Attractions Fed Press Conference (Wednesday): The Fed will cut rates by 25 bps—as priced in by futures markets—but the question is how Chair Powell will characterize expectations for the December meeting. He won’t provide formal guidance, deferring instead to the data. But markets have priced in over 90% odds for a December cut and the…
China is currently dominating the open-source AI space, according to Andreessen Horowitz’s Anjney Midha. Speaking at the Fortune Global Forum, Midha said this raises geopolitical and competitive concerns for the U.S. and its allies. However, he thinks Western companies can make a comeback, citing U.S. policy support and the potential for American labs to release new open-source models in the coming months. China’s progress with open-source models could pose a problem for the U.S. in the global AI arms race, according to Anjney Midha, a general partner at Andreessen Horowitz. “What has not been great is that the speed at…
When selling a home, it’s not uncommon for buyers to ask for more time before closing. This request to extend the closing date can leave sellers wondering what it means for their timeline, their plans, and sometimes even their bottom line. Understanding how to respond is key to keeping your sale on track. Whether you’re selling a home in Denver, CO, San Francisco, CA, or Atlanta, GA, this Redfin guide will walk you through why buyers request extensions, how sellers can respond, and what to consider before agreeing to a new closing date. Why buyers may want to extend the…