Hi ,
Will interest rates rise significantly? Not bloody likely. The Fed knows that would crash the economy.
Inflation is the highest since June 1947 (75 years ago), when Harry Truman was president (www.shadowstats.com/). The government claims it is much less, but it doesn't count the cost of food or energy when calculating the rate of inflation. How convenient. As though no one buys gasoline or food.
This week former Reagan economist Art Laffer issued a dire warning for the U.S. economy, noting that inflation is “not under control yet,” and stated that he is “quite concerned about the next 12 months for the U.S. economy.”
To learn more, check out our top story in this week's Note & Real Estate News.
Former Reagan Economist Issues Dire Warning on Inflation
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"We don’t have any basics coming in that could really do a good job; tax cuts, spending restraint, sound money, all of that is missing, so I am quite concerned about the next 12 months for the U.S. economy,"
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Pending Home Sales Shock with 6.9% Collapse
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Pending home sales defied predictions of a rebound at year-end, falling by 3.9 percent compared with a downwardly revised November estimate, data from the National Association of Realtors showed.
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IRS to Require Selfie to Access Some Online Tools and Applications
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You will soon be required to provide a selfie to a third-party identity verification company to access certain tools and applications on IRS.gov.
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Home Flipping is Getting More Competitive – and Less Profitable
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Fast-growing prices in the housing market, as well as low interest rates, are enticing more investors to buy homes, renovate them quickly and sell them for a profit. But while home flips are rising and investors are expecting growing returns, the profits are falling.
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NAR: Existing-Home Sales Reach Highest Point Since 2006
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Existing-home sales ended 2021 on a high note as home buyers rushed to buy a home to take advantage of ultra-low mortgage rates. Overall, sales were up 8.5% in 2021 compared to 2020, the National Association of REALTORS® recently reported.
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