Local DPA Grant, Equity and Appreciation Reports, Inflation, Rate and Yield Curve Update
Down Payment Assistance Grant – AREAA Portland is excited to offer their first $10,000 DPA grant! Priority will be given to a first-generation home buyer with limited English proficiency and low to moderate income. know someone that could benefit from a $10,000? Please have them apply by October 1st. Mortgage Rates improved again this week […]
Declining Rural Population, Rate and Job Update
How Japan is trying to solve the problem of shrinking villages – in 1955 the Village of Nanmoku was home to 11,000 people. Today there is less than 1,500 and 2/3rds of them are over the ager of 65. It is estimated that Japan could lose 40% of its municipalities over the next century which […]
Do Tariffs Help the Economy? Mortgage Rate, Inflation, and Rent Update
Do Tariffs Help Consumers and Save Jobs? Biden is predicted to continue Trump’s tough-on-China trade policy that is touted as a way to protect American jobs. Essentially tariffs are taxes on imported goods from other countries. The tariff that Biden is expected to finalize includes Lithium-ion batteries and electric cars from China. The latest studies […]
New Fed Direction, Home Sales & Mortgage Rate Update
Fed – at the Jackson Hole meeting fed Chair Jerome Powell finally confirmed a September 18 rate cut “The time has come for policy to adjust. The Direction of travel is clear and the timing and pace of rate cuts will depend on incoming data, the evolving outlook, and the balance of risks.“ While he […]
Do Banks Care About Your Savings Account? Inflation and Mortgage Rate Update
Are Big Banks Interested in Your Savings Account? The Fed Funds rate has been up for a while now and many banks, especially online banks, offer 4% APY on their accounts. Why is it that the national average for savings right now is at 0.45%? The big banks I have accounts with are all at […]
Inflation Flat, Home Sales Slow, Mortgage Rates Improve
Mortgage Rates – improved slightly these week as the price of Mortgaged Backed Securities (MBS) increased. Rates are at the same levels they were this time last year. Inflation – the Personal Consumption Expenditures Index report showed all-in inflation rose 0.1% in June and year over year is down from 2.6% to 2.5% increases. The […]
Luxury Spirits, Rents Strong, Shipping Declines
China’s Luxury Liquor Indicator – China’s has been producing alcohol for over 9,000 years and baijui, a clear liquor typically distilled from fermented sorghum, is the national liquor of choice. Of the 10 most valuable spirit companies in the world 6 of them are baijiu companies. Kweichow Moutai, one of the giants, has a market […]
The Carriage Tax, Inflation Mellows, Home Values Increase
The Carriage Tax in 1794 George Washington decided to raise money for the federal government by taxing the rich by placing an annual tax on folks who owned horse-drawn carriages. The lower-level models were tax at $2 per year while the nicest ones were $8 per year. This tax was contested by James Madison, among […]
Econ Myth Busting, Jobs Report, Home Values Rise
Economic Myth Busting- Myth – 60% of Americans are living paycheck to paycheck – in fact the median American household has a net worth of $193,000, while much of this is often tied up in housing and retirement accounts the median household has $8,000 in checking and savings. As of 2022 the poverty rate was […]
Vibecession? Red Lobster Ch. 11, MJ > Alcohol? Loans Perform
Over half of Americans now believe our economy is in recession even though GDP has continued to increase since the 2020 recession. Additionally, nearly 50% of Americans believe unemployment is at a 50-year high when the unemployment rate is near historic lows. Don’t call it a ‘vibecession’, especially when 70% of Americans believe inflation is […]