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Economics, and Finance articles. Engine @reddit2telegram Sister channel @r_war
Are there laws in place to stop big corporations from buying up housing?
Like that title says. I’m not educated in this field so forgive me. Does it vary from state to state? Is there anything stopping billion dollar corporations from buying up single family homes and residential housing? The average person can’t compete in trying to get a house if they’re going up against a corporation paying 100k over the asking on a cash offer.
I’m wondering if there’s anything in place to regulate and stop things like this?
https://redd.it/1efx7ik
@r_econ
1 million people now owe more than $200,000 in federal student loans
https://www.cnbc.com/amp/2024/07/29/student-loan-borrowers-who-owe-over-200000-become-more-common.html
https://redd.it/1efrhg6
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Mortgage rates set to soar for over 100,000 Americans
https://www.newsweek.com/mortgage-rates-set-soar-over-100000-americans-1931464
https://redd.it/1efp1xp
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The ultra-wealthy are benefiting from today’s real estate market as everyone else is frozen out
https://nypost.com/2024/07/29/real-estate/the-ultra-rich-are-the-most-successful-in-todays-housing-market/
https://redd.it/1efmg3j
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Americans are cutting back on groceries to pay for AC
https://fortune.com/2024/07/29/why-air-conditioning-bills-so-expensive/
https://redd.it/1efe8d0
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People moving away from fast food giants - McDs, Starbucks, etc
"McDonald’s on Monday reported that sales at US stores open at least a year fell 0.7% last quarter from the same period a year earlier, dragged down by fewer customers going to the fast-food company’s restaurants. McDonald’s isn’t alone: Starbucks, Burger King, Wendy’s and other rivals are also reporting less foot traffic and lower overall sales as consumers pull back their spending on food away from home. "
https://www.cnn.com/2024/07/29/investing/mcdonalds-earnings/index.html
The only thing that will bring down inflation is for people to close their wallets/phones until prices come down. This is how it's supposed to work.
https://redd.it/1efc1z9
@r_econ
The Fed says the pandemic economic impact payments only contributed 3% to inflation
https://www.frbsf.org/economic-research/publications/economic-letter/2022/march/why-is-us-inflation-higher-than-in-other-countries/
https://redd.it/1ef8dq1
@r_econ
McDonald’s executives admit diners think prices are too high, say they’re working to create value
https://www.cnbc.com/2024/07/29/mcdonalds-earnings-executives-say-prices-are-too-high.html
https://redd.it/1ef44xi
@r_econ
McDonald's misses Q2 estimates across the board, as consumers pull back on dining out
https://finance.yahoo.com/news/mcdonalds-misses-q2-estimates-across-the-board-as-consumers-pull-back-on-dining-out-110302257.html
https://redd.it/1ef2y6r
@r_econ
Boomers' iron grip on $76 trillion of wealth puts the squeeze on younger generations
https://creditnews.com/economy/boomers-iron-grip-on-76-trillion-of-wealth-puts-the-squeeze-on-younger-generations/
https://redd.it/1ef14i6
@r_econ
Japan Wanted Higher Inflation. It’s Here, and It Hurts.
https://www.nytimes.com/2024/07/29/business/japan-inflation-rates.html
https://redd.it/1eeyc9q
@r_econ
Should social welfare maximisation be the focus of all policy making efforts?
I have written a 1500 word essay responding to this question from the LSE econ essay contest. please comment or dm me if you can give me some feedback on my paper before i submit it, I would dearly appreciate it. thank you so much.
https://redd.it/1eew6u9
@r_econ
Major Housing Developer Pulls Out Of California [Wood Partners]
https://www.newsweek.com/wood-partners-major-housing-developer-pulls-out-california-1930553
https://redd.it/1eepmjp
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Rural Towns Are Aging, Cash-Strapped and in Desperate Need of Workers
https://www.wsj.com/us-news/rural-towns-are-aging-cash-strapped-and-in-desperate-need-of-workers-ae010a72?st=xrctvjh9psq7uv2&reflink=desktopwebshare_permalink
https://redd.it/1eelcns
@r_econ
Domino's CEO says customers are picking up their own pizzas, and it reveals a bleak reality about the economy
https://www.businessinsider.com/dominos-customers-increasingly-picking-up-pizzas-amid-high-delivery-costs-2024-7
https://redd.it/1eem2h7
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inflation is even worse than most people think
https://redd.it/1efkrtg
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The U.S. imports millions of American flags, nearly all from China. The federal government may start sourcing them domestically
https://fortune.com/2024/07/29/american-flag-imports-china-federal-government-rules-congress-sourcing/
https://redd.it/1efrc91
@r_econ
Stringent restrictions to new housing supply, effectively limiting the number of workers who have access to high productivity cities, lowered aggregate US growth by 36 percent from 1964 to 2009. (C. Hsieh, E. Moretti, April 2019)
https://pubs.aeaweb.org/doi/pdfplus/10.1257/mac.20170388
https://redd.it/1efqll4
@r_econ
One out of every 15 Americans is a millionaire, UBS says
https://fortune.com/2024/07/29/us-millionaires-population-ubs-global-wealth-report-china-europe-americans/
https://redd.it/1efe839
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The 1% have more wealth than the entire Middle Class in the US. But yet there’s no revolution.
https://redd.it/1efda1h
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‘I don’t have a budget’: Why people are going into debt to travel
https://www.cnn.com/2024/07/29/travel/the-people-who-are-going-into-debt-in-order-to-travel/index.html
https://redd.it/1ef4dqy
@r_econ
Boomers’ iron grip on $76 trillion of wealth puts the squeeze on younger generations
https://metropost.us/boomers-iron-grip-on-76-trillion-of-wealth-puts-the-squeeze-on-younger-generations/
https://redd.it/1ef3nny
@r_econ
McDonald's executives admit diners think prices are too high, say they're working to create value
https://www.cnbc.com/2024/07/29/mcdonalds-earnings-executives-say-prices-are-too-high.html
https://redd.it/1ef4e85
@r_econ
US National Debt Surpass $35 Trillion
The US debt surpassed $35 trillion today, resulting in a debt to GDP of over 122%. The debt and the continued expansion of the US money supply has lead to high inflation, but the way we calculate and explain inflation has changed over the years. I will share a bit of history and some of my thoughts below.
Everything is not getting more expensive, it’s your currency losing value. It might seem like a nuanced difference each leading to a gradual loss of purchasing power, but there is an important distinction. If we base our understanding on the fact that our loss in purchasing power comes from increasing costs, the focus will be on why everyone is raising their prices. Corporations are put to blame for wanting to increase profits, greedy workers are blamed for asking of salary increases, while consumers bear the blow with less affordable prices. It kicks off a blaming game while the main reason often is left out.
To understand how we got here, we must look back in time and recognize the change that was made to the definition of inflation. Up until the 1960’s, the original definition was “a change in the proportion of currency in circulation relative to the amount of precious metal that constituted a nations money”. In layman terms, it was defined as an increase in the circulating supply of a currency. A larger supply of currency chasing the same amount of goods would lead to more of those units being required to buy a fixed amount of goods, or an increase in prices if you will.
In the late 1800s and early 1900s the distinction between currency and money started to become blurred. Nations started to move away from having their currency backed by money (gold/silver) in their reserves. This gradual process, leading up to the final convertibility between the US Dollar and gold being cut in 1971, eventually led to the word ‘currency’ and ‘money’ being used as the same. No longer was the nation’s money backed by hard assets, and the circulation of the currency was no longer restricted.
A change in the definition of inflation was made to define it in the change of prices. The new definition, “The rate of increase in prices over a given period of time”, is vaguer and cover the consequence of inflation, rather than the original reason. A temporary imbalance between supply and demand could lead to a period of increased prices. This balance will normally be restored over time, when the market finds new solutions. However, an increase in the circulation of a currency resulting from monetary policy, will have lasting impacts and lead to a steady weakening of the value of the currency, maintaining the increased prices. If you look at a long enough time horizon, it’s only the original definition that explains that explains the loss in purchasing power.
Let me know what you think of the current situation and the change in definition. Link to my complete article below, for anyone interested:
https://checkthechance.com/us-debt-surpass-35-trillion/
https://redd.it/1eezxoi
@r_econ
Climate change is pushing up food prices — and worrying central banks. Shifting weather patterns are reducing crop yields and squeezing supplies, creating what could become a permanent source of inflation
https://www.ft.com/content/125e89c0-308a-492f-ae8e-6834847d1186
https://redd.it/1eey3l0
@r_econ
Less than half of foreign workers want to remain in Japan's countryside
https://asia.nikkei.com/Spotlight/Japan-immigration/Less-than-half-of-foreign-workers-want-to-remain-in-Japan-s-countryside
https://redd.it/1eern8j
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Domino's CEO says customers are picking up their own pizzas, and it reveals a bleak reality about the economy
https://www.reddit.com/r/wallstreetbets_wins/s/ZadZoSUkZA
https://redd.it/1eesrip
@r_econ
$1 million starter homes are more common than ever
https://fortune.com/2024/07/28/housing-market-crisis-affordability-1-million-starter-homes-more-common-home-prices/
https://redd.it/1eehk71
@r_econ
A Harris Economy Could Prove More Progressive Than "Bidenomics"
https://www.nytimes.com/2024/07/21/us/politics/kamala-harris-economy.html
https://redd.it/1eeiu04
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Venezuela’s monthly minimum wage is $3.50 USD and 7 million have fled the country in the past decade: Exclusive interview with lead Presidential opposition candidate Edmundo González Urrutia
https://www.latintimes.com/venezuelan-opposition-candidate-edmundo-gonzalez-urrutia-says-his-government-would-everyone-556912
https://redd.it/1eej45g
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