The abrupt drop in interest rates has brought about a boost to the housing market in the form of lower mortgage rates. The rate for a conforming 30-year loan fell to 3.45% at the end of February, nearly a full percentage point from a year earlier. Falling interest rates have prompted an increase in mortgage […]
Family size is shrinking in the U.S., with only 2.52 members per household on average in 2019, making it the smallest size ever in the country’s history. Historical data tracked by the U.S. Census Bureau showed an average family size of 5 in 1880, double by today’s standards. The decline in family size is believed […]
Outbreak Cost As a gauge of how a virus can affect the U.S. economy, the National Center for Biotechnology Information monitors and tracks the economic costs related to the influenza virus every year. The estimated average annual total economic burden of influenza, also known as the flu, to the healthcare system and society stands at […]
The global spread of the coronavirus has affected consumers in countries across the globe, curtailing demand for products mainly manufactured in China. It is expected that as worldwide demand for Chinese products decreases, the country’s largest economic sector, manufacturing, will slow, hindering the country’s economic growth. Based on 2019 data, the top five economies in […]
Over the decades, pandemics have evolved and lasted for varying periods of time, but always conclude with the containment and/or elimination of a virus. It is likely that history will repeat itself and a vaccine will eventually emerge to combat the new coronavirus disease (COVID-19), thus alleviating the threat of further immediate contamination. While modern […]
March Market Performance As the novel coronavirus disease (COVID-19) evolved from outbreak to epidemic to pandemic in March, the stock market has cratered, dropping into a bear market in a matter of weeks as financial markets attempt to come to grips with the new economic and social reality. The disruptions of COVID-19 to daily life […]
February Markets Performance It is easy to forget that at this time last month the stock market was still making new all-time highs. It has only taken a few weeks for the decade-plus bull run to hit bear market levels, highlighting just how unprepared the world has been for the novel coronavirus disease (COVID-19) pandemic. […]
Equity Market Pullback February saw stock valuations retreat to their levels around the middle of last year as concerns around the new coronavirus disease (COVID-19) grew. Some analysts believe that the pullback has helped identify several overvalued stocks. Valuations are considered to be more in line with historical standards relative to where they were at […]
Fear has gripped capital markets worldwide as the impact of the coronavirus disease (COVID-19) continues to evolve. Global economic forecasts have been revised downward by the International Monetary Fund (IMF) and the World Bank as factory closures, quarantines, and travel bans continue to hinder numerous industries. The Federal Reserve helped alleviate markets with a rate […]
The latest Cost of Living Adjustment (COLA) for Social Security payments is barely keeping up with inflation. The 1.6% increase in Social Security payments effective for 2020 are less than the most recent inflation numbers as measured by the Consumer Price Index (CPI) of 2.3% over the past year. Retirees receiving Social Security benefit payments […]
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