Job numbers by the industry, boomers by the trillions, gems can be overlooked in heated housing market, real estate and inflation, the DOJ backs out of antitrust settlement with NAR.
In Today's News
The Jobs Numbers: Who's Hiring in America -- and Who's Not
U.S. employers added 850,000 jobs in June, and the nation's unemployment rate ticked up to 5.9%, according to data released today by the Labor Department, Bloomberg reports. Meanwhile, average hourly pay for workers rose 3.6% from a year earlier, to $30.40 from $29.35.
The Millionacres takeaway: Check out this graphical presentation on what industries are adding jobs, and who really isn't. It's another way of looking at the jobs situation that affects so many businesses and so many real estate investors in those businesses.
Older Americans Stockpiled a Record $35 Trillion. The Time Has Come to Give It Away.
Transfers to heirs and others are unleashing a torrent of economic activity, including buying homes, starting businesses, and giving to charity, The Wall Street Journal says today [subscription required].
The Millionacres takeaway: Be nice to your nearest boomer -- they just might have a surprise for you!
Finding a Home in This Overheated Market
In this manic market with its slim pickings, a harsh light is cast on houses that don't sell right away, The New York Times says today. Within weeks, the leftovers are tainted. They sink to the bottom of Zillow and Realtor searches. Buyers note the paltry agglomeration of "views" and "saves" and ask, "What's wrong with it?"
The Millionacres takeaway: "What's wrong with it" might make it just right for a bargain buy that can turn into a profitable flip in the right hands.
Today on Millionacres
Why Investing in Real Estate Is a Good Idea During Inflation
Our Liz Brumer lays out here why investing in real estate is a good idea when the inflation rate is high so that you can protect your savings -- no matter what the economy does.
The Millionacres takeaway: Houses will always be needed. And investment property of many kinds purchased and held for the long term also can offer a secure way to grow the original investment into something substantial down the line.
DOJ Pulls Out of NAR Settlement: What This Could Mean for Real Estate
Last year, there appeared to be an end to the conflict over how buyer's agent commissions are displayed on for-sale listings in Multiple Listing Services (MLSs). Not anymore.
The Millionacres takeaway: Our Deidre Woollard explains how the Biden administration's retreat from an antitrust settlement reached by the previous bosses has roiled the market and added to the confusion for a growing coterie of real estate agents and their potential customers.