Limited supply is driving up housing prices in Orange County, with sales records indicating declining inventory and an uptick in price in June as compared to the same time last year. “It’s not insatiable demand,” Steven Thomas, founder of Reports on Housing—which publishes biweekly analyses of the real estate industry since its founding in 2004—told…

The total amount of corporate debt defaults in the United States this year have already exceeded the amount seen in 2022. Experts have been warning of a wave of defaults to hit the economy for some time due to higher borrowing rates. At least fifty-five American-based companies defaulted on their loans in the first half…

Canada’s premiers have called upon Prime Minister Justin Trudeau for a First Ministers Meeting on a national infrastructure program that will cover everything from the need for more housing to making the country’s economy more competitive. The call was made during the closing news conference on July 12 following the three-day national meeting of premiers…

OTTAWA—The Bank of Canada raised its overnight rate target by a quarter percentage point (25 basis points) to 5 percent on July 12 in response to more persistent excess demand in the economy and slowing downward momentum with inflation. “Canada’s economy has been stronger than expected,” the BoC said in a statement. The central bank…

OTTAWA—The Bank of Canada raised its overnight rate target by a quarter percentage point (25 basis points) to 5 percent on July 12 in response to more persistent excess demand in the economy and slowing downward momentum with inflation. “Canada’s economy has been stronger than expected,” the BoC said in a statement. The central bank…

The major U.S. banks are set to report the biggest jump in loan losses since the COVID-19 pandemic, as rising interest rates put mounting pressure on borrowers across the country. America’s top lenders are expected to release their second quarterly earnings reports this week, with JPMorgan, Wells Fargo, Citigroup, and BlackRock releasing theirs on July…

Interest rates are likely to be raised “a couple” more times this year as inflation is still far too high, the head of the Federal Reserve Bank of San Francisco says. While price pressures are slowing, San Francisco Fed President Mary Daly says the central bank needs to continue raising interest rates, a policy decision…

Interest rates are likely to be raised a “couple” of more times this year as inflation is still far too high, says the head of the Federal Reserve Bank of San Francisco. Despite price pressures slowing, San Francisco Fed Bank President Mary Daly believes the institution needs to continue raising interest rates, a policy decision…

Commentary We’re squarely in the dog days of summer, which in Hellenistic astrology is connected to bad luck, lethargy, and, of course, hot and humid weather. These are the days when economists and market watchers would love to shut down and go away for the summer. But for Chair Jerome Powell and the U.S. Federal…

A report by insolvency firm MNP Ltd. says 52 per cent of Canadians say they are $200 away or less from not being able to pay all of their bills at the end of the month as higher interest rates and a rising cost of living have stretched budgets. The result for the July report…