Today’s News Synopsis:
Economists — including those on the Fed’s own staff — had widely expected a recession this year as the central bank raised interest rates to bring down persistently high inflation.
In The News:
Yahoo Finance – “Why the most widely anticipated recession in history never came” (12-28-2023)
“The 2023 economic story will be remembered as one of a resilient US consumer as people opened their wallets more than economists had projected.”
NAR – “November 2023 Pending Home Sales Remain Flat” (12-28-2023)
“NAR released a summary of pending home sales data showing that November’s pending home sales showed no movement from last month and fell 5.2% from a year ago.”
CNBC – “State-run ‘auto-IRA’ programs aim to close retirement savings gap” (01-04-24)
“Seven states — California, Colorado, Connecticut, Illinois, Maryland, Oregon and Virginia — had created “auto-IRA” programs by the end of 2023. Others are slated to come on line.”
NAR – “Home Sales Start to Rise, Building Momentum for 2024” (12-20-2023)
“Existing-home sales posted a slight gain last month, breaking a streak of five consecutive monthly declines and foreshadowing what is expected to be a more favorable real estate market in 2024.”
California Real Estate Investor Events
Bruce Norris will be the keynote speaker at the Fliphacking event in San Diego on Tuesday, Oct 12.
The Norris Group presents its award-winning black-tie event I Survived Real Estate 2023 on Friday, October 27.
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