The economic shock hitting the housing market is starting to do some damage

There's evidence that the economic shock caused by spiking mortgage rates is beginning to take some steam out of the housing market.

‘Strong upward pressure will continue.’ As mortgage rates continue to climb, here’s one big thing homebuyers should consider doing now

Mortgage rates will likely rise throughout 2022, many experts predict. Indeed, both Holden Lewis, home and mortgage expert at Nerdwallet, and Jeff Ostrowski, Bankrate.com analyst, say that rates will likely continue to rise even this month. Given the general consensus that rates are on the rise, you may be wondering how you can lock in a good mortgage rate.

I'm Buying More of This Stock Before It's Too Late

My investing strategy is a pretty simple one, and it goes something like this: Assemble a diverse mix of quality stocks with strong growth potential, and leave those stocks alone for many years. It's a strategy I've employed with numerous tech stocks that have enjoyed massive gains over the past decade and change, and it's a strategy I continue to stick with in my quest to continue branching out. This year, I've added a number of REITs, or real estate investment trusts, to my portfolio.

Elon Musk Recommends Investing In 'Physical Things' - Here Are 3 Physical Assets That Perform Well During High Inflation

Tesla Inc. (NASDAQ: TSLA) CEO Elon Musk posted in a thread on Twitter (NYSE: TWTR) last month advising followers to own “physical things” when inflation is high. In the tweet, Musk said “As a general principle, for those looking for advice from this thread, it is generally better to own physical things like a home or stock in companies you think make good products, than dollars when inflation is high. I still own & won’t sell my Bitcoin, Ethereum or Doge fwiw.” The biggest takeaway for some foll

India's aviation regulator bars 90 SpiceJet pilots from flying Boeing MAX planes

Indian budget carrier SpiceJet Ltd said on Wednesday the country's aviation regulator has asked 90 pilots belonging to the airline to restrain from flying Boeing 737 MAX planes. SpiceJet, which currently operates 11 MAX aircraft and has 144 pilots to fly them, said the pilots have been restricted from operating MAX jets until they undergo retraining to the Directorate General of Civil Aviation's (DGCA) satisfaction. These pilots continue to remain available for other Boeing 737 aircraft and the restriction does not impact the operations of MAX aircraft whatsoever, a SpiceJet spokesperson said.

Over 700 Fox News viewers were paid to watch CNN for a month and the results are illuminating

The viewers participated in a political study to determine whether the conservative network engaged in “partisan coverage filtering”.

Mexico's new airport still lacking basics despite big opening splash

After a grandiose inauguration ceremony of Mexico City's newest airport last month, not a single suitcase was in sight there on a recent Friday afternoon, with just one flight flashing across the display board: Aeromexico, arriving from the Mexican city of Merida, delayed. Three weeks after the opening, Felipe Angeles International Airport (AIFA), 28 miles (45 km) north of the current Mexico City hub, was still under construction. The teething problems risk embarrassing President Andres Manuel Lopez Obrador, who made the airport a key project of his presidency, and giving ammunition to the opposition that have long criticized the new airport as a vanity project.

Should I stay or should I go? When growth chases Floridians away

Naming new subdivisions after what has been destroyed to make room for them will not bring those beautiful corners of our Florida back.

Remembering When Gilbert Gottfried Won The Night With The Filthiest Joke Of All Time

How a legendary moment in comedy was born.

Brooklyn shooting: AOC, other New York Democrats slammed 2019 proposal to put more MTA cops in NYC subways

Rep. Alexandria Ocasio Cortez, D-N.Y., along with other members of Congress from New York, voiced their opposition to a 2019 proposal which would have placed 500 additional Metropolitan Transportation Authority (MTA) officers in New York City subways.

Exclusive-India open to additional $2 billion aid for Sri Lanka with eye on China - sources

India is willing to commit up to another $2 billion in financial assistance to Sri Lanka while also supporting the island nation with food and fuel, five sources told Reuters, as New Delhi tries to regain ground lost to China in recent years. Sri Lanka, hit by its worst economic crisis since independence in 1948 and on the brink of its first debt default, has been asking friendly nations including India and China for credit lines, food and energy. "We are definitely looking to help them out and are willing to offer more swap lines and loans," said an Indian source aware of various discussions with Sri Lanka.

This Simple 401(k) Strategy Can Help Make You a Millionaire Before Retirement

Building a million-dollar portfolio may not be out of reach if you set goals and commit to making intentional moves every year.

Russian ruble's recovery masks disruptive impact of West's sanctions – but it won't make Putin seek peace

People bought the last remaining groceries at a Finnish PRISMA store that was closing down in in St. Petersburg in March. AP PhotoSix weeks into the war with Ukraine, Russia’s economy seems to be holding up better than initially expected. Despite unprecedented sanctions and an exodus of Western companies, the Russian ruble – a widely followed indicator of the economy – has recovered all of its earlier losses. Meanwhile, billions of dollars continue to flow in from energy sales to Europe and else

Homebuyer Misery Hits an All-Time High, Fannie Mae Survey Shows

Almost three-quarters of American consumers in March said they believed now is a “bad time to buy” real estate, a record high, according to a report from Fannie Mae.

Amazon pulls trigger on $12.75 billion bond after buying MGM, James Bond franchise

Amazon sees robust demand Monday for a big debt financing that follows its purchase of the fabled MGM movie and television studio.

Fed's Barkin says interest rates should be moved rapidly to neutral

"How far we will need to raise rates, in fact, won’t be clear until we get closer to our destination, but rest assured we will do what we must to address this recent bout of above-target inflation," Barkin said in remarks prepared for delivery to the Money Marketeers in New York. The Fed, which aims for 2% inflation, last month raised interest rates from near zero to begin to deal with what it sees as largely pandemic-induced inflation. Policymakers have signaled they may accelerate the pace of rate hikes and begin to rapidly reduce the Fed's balance sheet -- bloated by its purchases of bonds -- to deal a more decisive blow to inflation.

Krispy Kreme sets doughnut prices to $4.11 average gas price Wednesday to offer inflation relief

Gas prices might be lower after the record March highs but Krispy Kreme, Dunkin' and Bojangles are providing consumers with additional gas relief.

Russia has yet to slow a Western arms express into Ukraine

Western weaponry pouring into Ukraine helped blunt Russia's initial offensive and seems certain to play a central role in the approaching, potentially decisive, battle for Ukraine's contested Donbas region. The U.S. numbers alone are mounting: more than 12,000 weapons designed to defeat armored vehicles, some 1,400 shoulder-fired Stinger missiles to shoot down aircraft and more than 50 million rounds of ammunition, among many other things. The Biden administration is preparing yet another, more diverse, package of military support possibly totaling $750 million to be announced in the coming days, a senior U.S. defense official said Tuesday.

Interior Designers Are Sharing The Worst Trends Happening In Living Spaces Right Now

The "HOME" signs need to go.View Entire Post ›

As inflation hits a new 40-year high, 5 financial advisers on what they’re doing with their own money amid high inflation

MarketWatch Picks has highlighted these products and services because we think readers will find them useful; the MarketWatch News staff is not involved in creating this content. Links in this content may result in us earning a commission, but our recommendations are independent of any compensation that we may receive.

Air Force Now Offering Up to $50,000 Enlistment Bonuses for its Most Dangerous Jobs

Most of the hefty bonuses will require a six-year contract and are for jobs with a lot of training or that are some of the most dangerous roles in the Air Force.

A new world order for the stock market is coming, explains BlackRock CIO

There could be some big changes to markets, explains BlackRock's CIO Tony DeSpirito.

Here's where inflation is hitting the hardest

Inflation rose hit food and energy sectors the hardest in March, culminating in a 8.5% annual increase in inflation.

The Morning After: Tesla's cheaper Model Y is almost here

Today’s tech headlines:

Tesla’s cheaper Model Y is incoming, FIFA launches its own soccer streaming service, GoPro's 'Bones' is a stripped-down Hero cam for drones.

‘They said we need to give them money’: My husband’s family wants him to pay for a new car — and they call ME a gold digger! How do we stand up to them?

THE MONEYIST Dear Quentin, I am a stay-at-home mom. My husband is a police officer and is mandated to work between 10 and 16 hours a day. Our oldest child is a sophomore in high school. She is a straight-A student with a lot of extra-curricular activities.

The Pros and Cons of Waiting Out the Hot Housing Market

The pandemic put only a temporary damper on the housing market, as the market rebounded robustly, hotter than ever, particularly in 2021. As we've rolled into 2022, the market is starting to simmer...

Top REITs for April 2022

Real estate investment trusts (REITs) are publicly traded companies that allow individual investors to buy shares in real estate portfolios that receive income from a variety of properties. Among other requirements, REITs are required to pay out at least 90% of their taxable income as dividends. A key REIT metric is funds from operations (FFO), a measure of earnings particular to the industry.

‘No letup in site’ for housing demand, rising prices in DFW ‘for 5 to 10 years,’ expert predicts

Dallas-Fort Worth home prices for both resale and new construction are up 20% or more, depending on the study you’re looking at, and apartment rents are soaring at a similar pace. Don’t expect that to change anytime soon, says David Auerbach, the Dallas-based managing director Armada ETF Advisors, an exchange-traded fund that invests in publicly traded real estate investment trusts.

Los Angeles firm pays $51M for Sterling data centers

An affiliate of Los Angeles investment firm American Realty Advisors has bought two data center buildings in Sterling for $51 million, according to Loudoun property records. The affiliate, listed in Loudoun County records as ACPF Nova Data Center LLC, on March 2 bought the 12-acre parcel that contains both 22810 and 22860 International Drive. Shaw Road LLC had owned the property since 1999, the year it was built.

Selling a Condo This Year? You May Have Trouble for This Reason

Image source: Getty Images A condo can serve as a great starter home. Since condos are typically less expensive than standalone, detached properties, and they commonly require less maintenance, they're a good introduction to homeownership.

Real Estate vs. Stocks: Which Is Better?

Real estate and stock offer different risks and rewards. Depending on your financial needs, one investment might serve you better. Here's what to consider.

Dubai’s Housing Sales Smash Record on Rebound, Russians

(Bloomberg) -- Dubai’s housing market had its best ever start to the year driven by higher demand from local residents and bigger flows from outside buyers including Russians, according to real estate adviser CBRE Group Inc.Most Read from BloombergPutin Says Ukraine Talks ‘at Dead End’, Vows to Pursue WarNYC Names Person of Interest as Subway Shooter Remains at LargeUkraine Update: Polish and Baltic Presidents Set to Visit KyivU.S. Pullout of Locked-Down Shanghai Deepens China TensionsJoke No Mo

Rams QB Matthew Stafford Drops Millions on Two of Drake’s Houses

Matthew Stafford continues to claim his Los Angeles turf. Not only did he dole out a whopping $19.6 million for an all-new mansion in the celebrified Hidden Hills enclave last summer—following the quarterback’s trade from the Detroit Lions to the L.A. Rams—but he’s now acquired two side-by-side homes from music superstar Aubrey “Drake” Graham. The […]

Higher mortgage rates have a ‘deterrent effect’ on homebuyers, economist says

The rate on the 30-year fixed mortgage hit 4.72% last week, the highest level since December 2018.

15 Worst States To Live on Just a Social Security Check

The average monthly payment for Social Security retirement benefits is $1,613.77. That's not enough to get by in most places in America, but Social Security was never meant to serve as a retiree's...

Exclusive: Wells Fargo to sell downtown office building and renew big lease at another

As a cost-cutting measure, Wells Fargo has said that it is cutting its real estate footprint— and a San Francisco office building is among the properties that the bank is looking to offload.

The Housing Market Just Did Something It Hasn't Done Since 2007

The recent climb in mortgage rates has put buyers in the worst position since 2007 from an affordability standpoint, according to data firm Black Knight. Based on current mortgage rates, the typical U.S. household would have to spend 29% of its monthly income to make a mortgage payment on an average-priced home. The last time affordability took such a hit was 2007.

New $106M Denver Tech Center apartments to offer built-in office options for remote work

Every unit at the new 12-story apartment building in the Denver Tech Center will include a desk or office element as developers are betting remote work is here to stay.

Housing keeps getting more expensive. Is there relief in sight?

The cost of shelter has increased by the largest amount in four decades over the past year, driving overall inflation higher.

Here's Why We Aren't in a Housing Bubble

The red-hot housing market may be pricing out many people as it continues its scorching run, but it isn't in a bubble and will likely soon see correctors to help it stay strong, an expert said April 11. Kayla Bruun, economic analyst at decision intelligence company Morning Consult, told TheStreet that while housing prices are rising rapidly, the market itself isn't exhibiting what economists would consider classic bubble symptoms, where pricing is driven by artificial demand. Bruun said that Morning Consult data over the past year has shown that many more adults are trying to buy homes than are planning to sell them over the next 12 months, which leads to a kind of uber-sellers market.