Five Things to Watch For in March’s Retail Sales Report

The U.S. Census Bureau will release its monthly retail sales report on Monday. Economists surveyed by Bloomberg expect a 0.4 percent gain in retail sales for March. Thus far, retail sales have trended softer this year than in 2023, with an unexpected 1.1 percent drop...

In the Hunt for Affordable Housing, Americans Are Heading South

Jay, a tech executive from Virginia Beach, had simple criteria for where he wanted to live: somewhere with a solid tech presence, decent weather and spacious, reasonably-priced housing. He was stunned by the high cost of homes in places like Seattle and San Francisco....

Rising Inflation Makes Fed Interest Cuts Unlikely in the Near Term

Consumer prices rose slightly faster in February, a signal for the Fed to hold cutting interest rates. Prices rose 0.4% from a month earlier in January and increased 3.2% from a year ago, according to the Labor Department. That rise in prices was slightly higher than...

Black business owners struggle as lending standards remain tight

Fashion stylist Daun Green started her company Dusk ‘Til Dawn in her home in 2015. However, as she booked more film and photo shoots and found herself carrying more supplies, she knew she needed a change of pace–a truck and a showroom. Green decided to apply for a...

Record Home Prices Close Out 2023; Up 5.5%

 Home prices ended 2023 at a record high as limited inventory inched prices up and buyer confidence grew thanks to a modest reduction in mortgage rates.   The December S&P CoreLogic Case-Shiller Indices capped a year that started slowly but ultimately saw growth...

Durable Goods orders drop steeply in January in sharpest decline since the pandemic

The reduction in new orders suggests the manufacturing sector is still in a recession US durable goods orders declined more than expected in January, a sign that the manufacturing sector has not yet begun to recover from two years of stalled growth. Overall orders for...

January Retail Sales Show Unexpected Decline, Though Downturn Remains To Be Seen

 US retail sales dropped more than anticipated in January, a sign of economic slowdown, but not necessarily a sign of oncoming recession. January retail sales declined a seasonally adjusted 0.8 percent according to a Census Bureau report on Thursday, lower than the...

Inflation Slows, But A Bumpy Road Lies Ahead

Consumer price data surprised economists with a surge in prices for services, underscoring the bumpiness of the road towards slower inflation.  Prices rose 3.1% in January from a year earlier, compared to 3.3% in December, the Labor Department said Tuesday. That was...

New York Rents Reach Record Highs Despite Moderating Nationwide

Kat Logan moved into a spacious studio apartment in Gramercy Park in 2018 for $2,500. During the pandemic, her rent held steady. Now, Logan is considering leaving New York City because of skyrocketing rents. "There's this thought at the back of my mind like, what if...

Inflation, Wages Could Ease Before the Fed’s Meeting: Five Things to Consider in Personal Income Report

Economists predict a slight decrease in Personal Consumption Expenditures (PCE) Price Index, the Federal Reserve’s preferred measure of inflation, and a modest dip in consumer spending, in March’s personal income report set for release Friday. The predicted slowdowns...

Five Things to Watch: Home Prices

Economists predict that home prices declined year over year in February, ahead of the monthly Case-Shiller Report set to release tomorrow morning. But uncertainty lingers amidst changing seasons, regional divides and an otherwise resilient labor market.  The Federal...

Housing Markets Are Cooling – But Not Everywhere

Housing Markets Are Cooling – But Not Everywhere

The Federal Reserve targets home prices to curb inflation. But only certain markets seem to be responding – revealing the imprecision of an interest hiking toolbox. Housing prices fell in January, but at vastly different speeds coast to coast. A stark split in the...

The Hudson Valley Has a New York City Problem

Greg Beytis has lived in the Hudson Valley for his whole life, so he remembers a time before the pandemic when finding an apartment only took a week, if that. But as of March, Beytis has spent four months looking for an apartment to rent where he can stay with his...

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