said nationwide home sales dropped 9.1% from February to March on a seasonally adjusted basis — marking the steepest decline Redfin has seen since it started recording data eight years ago.Business Insider obtained a Bank of America research note from April that analyzed the next year of household incomes and evaluated the strengths and weaknesses of the housing market heading into March, based off factors including inventory and foreclosure risk.
It also considered factors including the unemployment rate and the $2.2 trillion stimulus package, including the Payroll Protection Program for small businesses. Prior to the pandemic, BofA had estimated that home prices would increase 4% to 5% in 2020. But it rapidly changed that forecast after the events of March and April.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Prices are going up... supply is way down
United States United States Latest News, United States United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Cruise ship workers stuck on ships finally allowed to disembark in US - Business InsiderThousands of stranded cruise workers are finally being allowed to disembark ships in the US after cruise companies agree to strict deals with CDC
Source: BusinessInsider - 🏆 729. / 51 Read more »
Trump taps top GOP fundraiser to lead the embattled US Postal Service - Business InsiderThe new postmaster general's coziness with Trump will likely facilitate his efforts to dramatically raise delivery prices for Amazon. Trump taps former CEO of logistics company to run major logistics branch of government. Amazon must pay more. It is the price for their monopoly position. Translation: realDonaldTrump wants the Postal Service to stop losing money. Good for him.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Meat shortage pushes prices higher for US grocery shoppers - Business InsiderThe American meat shortage is pushing prices to unprecedented heights — here's how it could affect your grocery bill Why? There is no meat shortage, these Chinese Communist owned Meat and Poultry Plants are shutdown to cause situations. Many of us don't need meat to survive.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Largest mobile soup kitchen in US overwhelmed with 50% spike in demand - Business InsiderFood programs have become vital as more than half a million New Yorkers have lost their jobs during the health crisis.
Source: BusinessInsider - 🏆 729. / 51 Read more »
US weekly jobless claims are 3.2 million as coronavirus layoffs continue - Business Insider'It's very clear the labor market is still taking it on the chin from the coronavirus,' said Ryan Sweet, a senior economist at Moody's Analytics.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Trump says doing too much coronavirus testing makes the US 'look bad' - Business InsiderTrump, on more than one occasion, has signaled he cares more about optics than fully grasping the scale of the coronavirus outbreak in the US. Trump thinks he can gaslight a virus. BVC. BATH ADVANCED COMMUNICATIONS Antibody test, which is ready in a couple of months that’s what we want. Come on Very misleading headline—all he’s saying is that high testing = high case count. Wouldn’t expect this from but this is becoming a theme. This is very true—many Americans do not recognize the causative effect that massive amounts of testing have on case data
Source: BusinessInsider - 🏆 729. / 51 Read more »