US housing market weakness is growing:
In June, HALF of the top 50 metro areas saw year-over-year home price declines.
Austin, Texas, and Tampa, Florida, experienced the steepest drops of over -5%.
By comparison, in May and April, 22 and 20 of the 50 major metros saw declining home prices.
In November, just 7 of the 50 largest US metros recorded year-over-year price drops.
Cracks in the housing market are beginning to show.
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In June, HALF of the top 50 metro areas saw year-over-year home price declines.
Austin, Texas, and Tampa, Florida, experienced the steepest drops of over -5%.
By comparison, in May and April, 22 and 20 of the 50 major metros saw declining home prices.
In November, just 7 of the 50 largest US metros recorded year-over-year price drops.
Cracks in the housing market are beginning to show.
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NEW - Pope Leo XIV has declared his first miracle in which a newborn from Rhode Island miraculously recovered from a critical condition in 2007 after the doctor prayed to Father Valera Parra, a 19th-century priest and the patron of his hometown southeastern Spain. This miracle potentially paves the way for the priest’s sainthood
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Yesterday, a Delta Air Lines flight to Atlanta made an emergency landing at #LosAngeles Airport.
The Boeing 767 engine caught fire shortly after takeoff around 2 p.m. Video from the ground captured the flames coming out from one of the engines. The flight landed safely after returning to the LAX runway. The cause of the fire is still unclear.
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The Boeing 767 engine caught fire shortly after takeoff around 2 p.m. Video from the ground captured the flames coming out from one of the engines. The flight landed safely after returning to the LAX runway. The cause of the fire is still unclear.
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What is happening here?
The BLS just said the number of jobs reported for the 9 months ending December 2024 was likely overstated by ~800,000.
This comes as the Quarterly Census of Employment and Wages (QCEW) data, covering 97% of employers, showed the US added 607,000 jobs during this period.
This is 57% lower than the initially reported 1.4 million in the monthly non-farm payroll (NFP) reports.
In other words, there was an unprecedented 793,000 gap between NFP data and QCEW data in March-December 2024.
This means jobs were likely overstated by 88,111 PER MONTH, on average, during this time.
Something does not add up here.
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The BLS just said the number of jobs reported for the 9 months ending December 2024 was likely overstated by ~800,000.
This comes as the Quarterly Census of Employment and Wages (QCEW) data, covering 97% of employers, showed the US added 607,000 jobs during this period.
This is 57% lower than the initially reported 1.4 million in the monthly non-farm payroll (NFP) reports.
In other words, there was an unprecedented 793,000 gap between NFP data and QCEW data in March-December 2024.
This means jobs were likely overstated by 88,111 PER MONTH, on average, during this time.
Something does not add up here.
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