No one seems worried about a housing bubble. Just like last time the bubble burst
CNN
Housing prices are surging to new records with no end in sight. They're being fueled by historically low interest rates -- but also investors and economists' belief that the housing market has a unique ability to support runaway prices.
That's the current state of America's housing market, but it could also describe the US housing bubble that inflated from 2004 through early 2007, before prices crashed and wreaked havoc on the economy and the global financial system. That led to the Great Recession, the biggest body blow that the US economy has suffered since the Great Depression. It produced massive, prolonged unemployment and the greatest destruction of household wealth in the nation's history.
Most economists and investors aren't focused on the housing market right now. Their attention is on other factors dogging the economy, such as a labor shortage, decades-high inflation, supply chain disruptions and of course the ongoing pandemic, which has been at least partly the cause of all of those problems.
Rep. Adelita Grijalva said Friday she was pepper-sprayed and pushed around during an Immigration and Customs Enforcement raid in Tucson, Arizona, a claim that the Department of Homeland Security swiftly disputed.
The alleged drug traffickers killed by the US military in a strike on September 2 were heading to link up with another, larger vessel that was bound for Suriname — a small South American country east of Venezuela – the admiral who oversaw the operation told lawmakers on Thursday according to two sources with direct knowledge of his remarks.
The first week of testimony in Brian Walshe’s murder trial in Dedham, Massachusetts, has come to an end. The jury heard from about two dozen witnesses called by the commonwealth in its case against Walshe as prosecutors work to prove he killed his wife, Ana Walshe, around New Year’s Day in 2023.
The US Army officially stood up a new command on Friday to oversee the Army’s activities in the Western Hemisphere in the latest signal of increasing focus on homeland defense.
A former high-level Drug Enforcement agent was indicted on charges of conspiring to traffic drugs and launder millions of dollars for a Mexican cartel.
A federal judge in Florida ordered the unsealing of grand jury transcripts and other records in the investigation into Jeffrey Epstein granting the Justice Department’s request.
The Indiana House approved new congressional maps designed to hand Republicans all nine of the state’s US House seats on Friday, setting the stage for a showdown next week in the state Senate.
Honduran presidential candidate Salvador Nasralla said last-minute interference from US President Donald Trump in the country’s closely fought election had damaged his chances of winning and left him trailing as vote counting dragged on.
Vice President JD Vance said he and second lady Usha Vance are largely amused by the online chatter dissecting their marriage, including a recent spate of headlines over photos of her without a wedding ring.
During interviews with the FBI, the suspect arrested in the pipe bomb probe told investigators that he believed the 2020 election was stolen, providing perhaps the first indication of a possible motive for the bombs placed near the DNC and RNC headquarters, people briefed on the matter said.
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The two men killed as they floated holding onto their capsized boat in a secondary strike against a suspected drug vessel in early September did not appear to have radio or other communications devices, the top military official overseeing the strike told lawmakers on Thursday, according to two sources with direct knowledge of his congressional briefings.
As Chad Curry busily ferries his teenage children through the streets of their Chicago neighborhood of West Ridge, he eyes passing vehicles with a skepticism he didn’t have just a few months ago.