It’s official: Home prices are up nearly 5% year over year in every major U.S. city, according to a Redfin report released Thursday. Meanwhile, current mortgage rates are nearing the 8% peak from fall 2023. That deadly combination is making it “almost impossible” for first-time homebuyers to break into the U.S. housing market, Treasury Secretary […]
The mighty American consumer has shrugged off months, even years of recession predictions from top economists and Wall Street CEOs. Facing the hottest inflation in 40 years, and aggressive interest rate hikes meant to tame it, consumers have managed to continue spending, enabling the economy to remain on solid footing. But this week, a one-two […]
By Steve Gorman and Jorge Garcia LOS ANGELES (Reuters) -The first in a one-two punch of atmospheric river storms soaked Southern California with drenching rains on Thursday, triggering scattered flooding and rush-hour road closures in a precursor to a larger, wetter blast expected to sweep ashore over the weekend. The city of Long Beach, just […]
Coronavirus levels are high and rising throughout California amid a post-holiday spike in infections. The uptick, documented through wastewater surveillance, is coinciding with a sharp rise in flu activity — a one-two punch for what’s proving to be a busy respiratory virus season. “We are certainly in some high levels of viral transmission. Flu is […]