The National Association of Realtors (NAR) released their annual survey showing the median household income for home buyers jumped to $107,000 from $88,000 last year. The survey also showed that first-time buyers made up 32% of all home buyers, which, while an increase from last year's historic low of 26%, is still below the 38% annual average since 1981. Jessica Lautz, NAR Deputy Chief Economist and Vice President of Research joins Yahoo Finance to break down the survey and give insights into these emerging trends in home buying. Lautz points out an interesting trend: "What we see overall in the US is that there's generally a smaller share of married couples today. We see more single women entering into the market... We see that they're competing against these repeat buyers who have higher incomes, they're saving for longer periods of time, but I have to say that housing affordability is going to impact the singles more than we would see for married couples. " For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
The National Association of Realtors (NAR) released their annual survey showing the median household income for home buyers jumped to $107,000 from $88,000 last year. The survey also showed that first-time buyers made up 32% of all home buyers, which, while an increase from last year's historic low of 26%, is still below the 38% annual average since 1981. Jessica Lautz, NAR Deputy Chief Economist and Vice President of Research joins Yahoo Finance to break down the survey and give insights into these emerging trends in home buying.
Lautz points out an interesting trend: "What we see overall in the US is that there's generally a smaller share of married couples today. We see more single women entering into the market... We see that they're competing against these repeat buyers who have higher incomes, they're saving for longer periods of time, but I have to say that housing affordability is going to impact the singles more than we would see for married couples. "
For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
Reuters
LONDON (Reuters) -China's biggest lender, the Industrial and Commercial Bank of China, paid a ransom after it was hacked last week, a Lockbit ransomware gang representative said on Monday in a statement which Reuters was unable to independently verify. ICBC, whose U.S. arm was hit by a ransomware attack that disrupted trades in the U.S. Treasury market on Nov. 9, did not immediately respond to a request for comment. "They paid a ransom, deal closed," the Lockbit representative told Reuters via Tox, an online messaging app.
South China Morning Post
More than 100 family-office owners and managers gathered in a closed-door summit in Hong Kong to discuss the state of global politics, the world's economy, wealth management, the environment and business sustainability, as the city took another step towards proving its mettle as Asia's financial hub. South China Morning Post's inaugural Family Business Summit (FBS) was co-organised with Blue Pool Capital, with the support of UBS and Brand Hong Kong. Attendees of the full-day conference at The Pe
Reuters
(Reuters) -Hyundai Motor said on Monday it will hike wages for nonunion production workers at its Alabama factory by 25% by 2028, weeks after the United Auto Workers won new contracts with the Detroit Three automakers. The Korean automaker joins Toyota Motor and Honda Motor in raising U.S. factory wages after the UAW won a new contract with General Motors, Ford Motor and Chrysler parent Stellantis that will result wage increases of 25% through 2028. The Detroit Three wage hikes amount to 33% when expected cost-of-living adjustments are factored in.
Bloomberg
(Bloomberg) -- Nvidia Corp., the world’s most valuable chipmaker, is updating its H100 artificial intelligence processor, adding more capabilities to a product that has fueled its dominance in the AI computing market.Most Read from BloombergWall Street Divided Over Just How Aggressive Fed Cutting Will BeUBS Strategists See Far Deeper Fed Rate Cuts Than What Markets Are PricingChina Weighs Ending Freeze on Boeing With 737 Max Deal in USSunak Fires Braverman and Names David Cameron Foreign Secreta
SmartAsset
Unless you're extremely rich or poor, you probably think of yourself as being part of the "middle class." As you're probably aware, "middle class" is an income level that describes people whose annual income is directly in the middle 50% … Continue reading → The post What Is Middle Class Income in the U.S.? appeared first on SmartAsset Blog.
SmartAsset
Where do millionaires keep their money? High net worth individuals put money into different classifications of financial and real assets, including stocks, mutual funds, retirement accounts and real estate. Most of the 20.27 million millionaires in the U.S. did not … Continue reading → The post Where Do Millionaires Keep Their Money? appeared first on SmartAsset Blog.
Bloomberg
(Bloomberg) -- When former crypto titan Sam Bankman-Fried was convicted of seven counts of fraud and conspiracy on Nov. 2, US Attorney Damian Williams called the case “one of the biggest financial frauds in American history.” Most Read from BloombergIceland Girds for Volcanic Eruption That Could Wipe Out TownBiden Has Wiped Away $127 Billion in Student Loan DebtXi Jinping’s ‘Old Friends’ From Iowa Get a Dinner InvitationChina Weighs Ending Freeze on Boeing With 737 Max Deal in USAn Opioid-Like D
Reuters
Fidelity launched a group of six new exchange-traded funds (ETFs) Monday and announced sharp reductions on management fees on nearly a third of its total ETF lineup, kicking off what analysts expect to be another strong week for ETF debuts. So far this year, asset managers have launched 419 ETFs, according to Morningstar Direct, taking 2023 a step closer toward breaking the 2021 record of 475 new ETFs. Among them, Ark Invest and 21Shares AG will roll out a group of five actively-managed ETFs tied to bitcoin and ethereum futures as well as blockchain technology on Tuesday and Wednesday.
Bloomberg
(Bloomberg) -- The Nasdaq’s November rally is set to get an extra boost this week from investors front-running an ETF’s option expiration.Most Read from BloombergWall Street Divided Over Just How Aggressive Fed Cutting Will BeUBS Strategists See Far Deeper Fed Rate Cuts Than What Markets Are PricingChina Weighs Ending Freeze on Boeing With 737 Max Deal in USSunak Fires Braverman and Names David Cameron Foreign SecretaryIceland Girds for Volcanic Eruption That Could Wipe Out TownThe $7.7 billion
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