Econ70

While the economy may be super and an economic soft landing may be right around the corner, U.S. households are increasingly tapping into their IRA/401(k) retirement accounts. In 2018 and 2019 that percentage was about 2%. In 2020, despite Covid,…

3/21/24 marked the 625th consecutive day of the inversion of the 2-10 yield curve. This means the yield on the 2-year Treasury has consistently exceeded the yield on the 10-year Treasury since early July 2022, breaking the record of 624…

The Friday File: Between 2000-2023, the average number of UFO sightings per 100,000 persons in the US was 34.3. Lincoln County, NV, where fabled Area 51 is located, is tops at 820.9. Next is Arthur County, NE at 618.6, then…

While retailers closed 5,000 net stores in 2019, 6,000 net stores during pandemic-plagued 2020, and several hundred in 2021, since then the improvement has been amazing. In 2022, 1,500 net stores opened, in 2023 almost 500 opened, and YTD, 750…

Despite many households locking in low mortgage rates, household interest expenses are skyrocketing. In 00Q4, the peak of the dotcom boom, interest expenses/GDP hit an all-time high of 2.2%. In 07Q2, shortly before the onset of the Housing Bust, interest…

The cost to a mortgage lender to complete a residential loan in 23Q4 was $12,485, the second highest level in the history of the series, and up from $11,441 in 23Q3. Unfortunately, revenue per loan barely rose. As a result,…

While the long-term impact of NAR’s agreement to end litigation brought on behalf of sellers, related to broker commissions, may take a while to become apparent, the immediate results were clear. On Friday, the day the agreement was announced, the…

The Friday File: A study of 584,734 dogs has found small, long-nosed, female dogs have the longest average lifespan at 13.3 years. The median canine lifespan is 12.5 years. Dogs with flat faces live an average of 11.2 years. Interestingly,…

As of 3/1/24, the IRS issued 36.2 million refunds versus 42 million refunds Y-o-Y. However, tax filing season began on 1/23/23 compared to 1/29/24. That said, so far, the IRS has processed 53.2 million returns vs. 54.3 million last year.…

The new White House pilot program designed to save homeowners money by waiving the requirement for title insurance on some refinancings by some lenders is, while well intended, ill advised. It’s because at the margin this increases housing demand, which…