Senate Can Do So Much Better: Sen. Cramer on Tax Bill
Senator Kevin Cramer (R) North Dakota weighs in on the House Tax Bill and states he wants the bill the pass, but discusses changes he'd like to make. He talks about additional potential sanctions on Russia. Senator Cramer speaks with Kailey Leinz and Joe Mathieu on the late edition of Bloomberg's "Balance of Power."
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Yahoo
31 minutes ago
- Yahoo
South Florida now emerging as the ‘epicenter of housing weakness' — but will it spread to the rest of the US?
Moneywise and Yahoo Finance LLC may earn commission or revenue through links in the content below. Bubbles don't always burst — sometimes they deflate. But the process can still be painful, as some Florida home sellers are now discovering. According to a Bloomberg analysis of Redfin data, the number of contracts to buy homes in Miami, Fort Lauderdale and West Palm Beach dropped in April compared to a year ago, marking the steepest declines among the 50 largest metro areas in the U.S. Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don't have to deal with tenants or fix freezers. Here's how BlackRock CEO Larry Fink has an important message for the next wave of American retirees — here's how he says you can best weather the US retirement crisis Nervous about the stock market in 2025? Find out how you can access this $1B private real estate fund (with as little as $10) Notably, pending sales in Miami plunged 23%, while transactions in Fort Lauderdale and West Palm Beach declined by 19% and 14%, respectively. According to Chen Zhao, head of economics research at Redfin, the region is clearly under pressure. 'South Florida is the epicenter of housing market weakness in the United States,' she told Bloomberg. Homes are also sitting on the market much longer than elsewhere. In April, the median time to sell in West Palm Beach and Fort Lauderdale was 83 days, and 81 days in Miami — more than double the national average of 40 days. South Florida saw a historic run-up in prices during the pandemic, with homes routinely selling above asking price. But the tide has turned. In April, the median home sale price across Florida fell 3.2% year over year. And in West Palm Beach, Miami and Fort Lauderdale, nearly 5% of homes sold below asking — compared to just 0.77% nationally. 'I think you're seeing a really long, slow deflation of that bubble,' Zhao said in the Bloomberg analysis, reflecting on the shifting market dynamics. And while Florida may be feeling the pain, Zhao cautions it might not be the only state that ends up struggling: 'The question for the rest of the country is, will this spread? Florida is uniquely bad right now.' Florida's housing market seems to be under pressure, but that doesn't necessarily signal a nationwide collapse. In fact, according to Redfin, the median U.S. home sale price in April was $437,864 — up 1.3% from a year earlier. Zoom out further, and the long-term trend remains clear: Redfin data show U.S. home prices have surged roughly 45% over the past five years. Affordability, however, remains a major challenge due to the imbalance between supply and demand. As Federal Reserve Chair Jerome Powell acknowledged in a press conference last year, the real issue behind America's housing crisis is clear: 'We have had, and are on track to continue to have, not enough housing.' A June 2024 analysis by Zillow estimates the U.S. housing shortage at 4.5 million homes — a gap that continues to support demand and rental prices in many regions. Meanwhile, many investors view real estate as a time-tested hedge against inflation. As the cost of materials, labor and land rises, property values often follow — and so do rents. This allows landlords to earn income that tends to keep pace with inflation. Of course, with today's high home prices, elevated mortgage rates and an uncertain outlook, jumping into the market might feel daunting. But the good news is, you no longer need to buy a property outright to tap into the benefits of real estate investing. Crowdfunding platforms like Arrived offer an easier way to get exposure to this income-generating asset class. Backed by world class investors like Jeff Bezos, Arrived allows you to invest in shares of rental homes with as little as $100, all without the hassle of mowing lawns, fixing leaky faucets or handling difficult tenants. The process is simple: Browse a curated selection of homes that have been vetted for their appreciation and income potential. Once you find a property you like, select the number of shares you'd like to purchase, and then sit back as you start receiving positive rental income distributions from your investment. Another option is First National Realty Partners (FNRP), which allows accredited investors to diversify their portfolio through grocery-anchored commercial properties, without taking on the responsibilities of being a landlord. With a minimum investment of $50,000, investors can own a share of properties leased by national brands like Whole Foods, Kroger and Walmart, which provide essential goods to their communities. Thanks to Triple Net (NNN) leases, accredited investors are able to invest in these properties without worrying about tenant costs cutting into their potential returns. Simply answer a few questions — including how much you would like to invest — to start browsing their full list of available properties. Read more: Rich, young Americans are ditching the stormy stock market — If you're uneasy about where the U.S. housing market — or the broader economy — is headed, you're not alone. Warnings from top economists and investors are piling up. Nobel Prize–winning economist Paul Krugman has cautioned that a recession could hit the U.S. this year. Meanwhile, Ray Dalio — founder of the world's largest hedge fund, Bridgewater Associates — recently sounded the alarm on 'something worse than a recession.' With soaring national debt, persistent fiscal deficits and rising geopolitical tensions, it's no surprise that markets have been on edge. So where can investors turn for shelter? Dalio points to a familiar safe haven: gold. 'People don't have, typically, an adequate amount of gold in their portfolio,' he told CNBC in February. 'When bad times come, gold is a very effective diversifier.' Long viewed as the ultimate safe haven, gold isn't tied to any single country, currency or economy. It can't be printed out of thin air like fiat money, and in times of economic turmoil or geopolitical uncertainty, investors tend to pile in — driving up its value. Hence why, over the past 12 months, gold prices have surged by more than 40%. One way to invest in gold that also provides significant tax advantages is to open a gold IRA with the help of Priority Gold. Gold IRAs allow investors to hold physical gold or gold-related assets within a retirement account, thereby combining the tax advantages of an IRA with the protective benefits of investing in gold, making it an option for those looking to help shield their retirement funds against economic uncertainties. When you make a qualifying purchase with Priority Gold, you can receive up to $10,000 in silver for free. JPMorgan sees gold soaring to $6,000/ounce — use this 1 simple IRA trick to lock in those potential shiny gains (before it's too late) Are you rich enough to join the top 1%? Here's the net worth you need to rank among America's wealthiest — plus a few strategies to build that first-class portfolio You're probably already overpaying for this 1 'must-have' expense — and thanks to Trump's tariffs, your monthly bill could soar even higher. Here's how 2 minutes can protect your wallet right now Access to this $22.5 trillion asset class has traditionally been limited to elite investors — until now. Here's how to become the landlord of Walmart or Whole Foods without lifting a finger This article provides information only and should not be construed as advice. It is provided without warranty of any kind. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
35 minutes ago
- Bloomberg
Bloomberg Intelligence: Stocks Rise as Jobs Surprise Spurs Treasury Losses
Watch Alix and Paul LIVE every day on YouTube: Bloomberg Intelligence hosted by Paul Sweeney and Alix Steel Steven Blitz, Chief US Economist at TS Lombard, discusses the May jobs report, discusses the May jobs report. US job growth moderated in May, with nonfarm payrolls increasing 139,000, and prior months' figures revised lower, indicating employers' caution about growth prospects. Max Chafkin, Bloomberg Businessweek Senior Reporter and and Co-Host of the Elon Inc Podcast, discusses the feud between Elon Musk and President Donald Trump. Elon Musk and Donald Trump's alliance ended in a public spat, with Musk eventually backing down after Tesla's stock price tanked and his net worth crumbled by $34 billion. Janet Lorin, Bloomberg Higher Education Finance Reporter, discusses the latest news at Harvard University. A US District Judge has granted Harvard University a temporary restraining order, blocking the Trump administration's ban on international students entering the US Poonam Goyal, Senior U.S. E-Commerce and Retail Analyst at Bloomberg Intelligence, discusses Lululmon earnings. Lululemon Athletica posted a second straight disappointing quarter, with projected sales and profit below analyst estimates, causing its shares to tumble as much as 21% in premarket trading.
Yahoo
an hour ago
- Yahoo
Carney to Fast-Track ‘Nation-Building' Projects Through Bill
(Bloomberg) -- Prime Minister Mark Carney announced legislation on Friday to fast-track 'nation-building' projects in Canada and remove internal barriers to trade in an effort to shore up the country's economy from the US tariff barrage. Next Stop: Rancho Cucamonga! ICE Moves to DNA-Test Families Targeted for Deportation with New Contract Where Public Transit Systems Are Bouncing Back Around the World US Housing Agency Vulnerable to Fraud After DOGE Cuts, Documents Warn Trump Said He Fired the National Portrait Gallery Director. She's Still There. The bill that aims to build 'one Canadian economy' targets projects that may include ports, railways, highways, critical-mineral mines, oil pipelines and electricity transmission systems. The government's overall goal is to speed up approvals to two years. The legislation would allow the government to identify projects in the national interest in consultation with provinces, territories and Indigenous partners. Federal reviews would then ask not whether to build the proposals, but how best to advance them. Carney won an election in April on an ambitious pledge to win the trade war with the US and make Canada's economy the strongest in the Group of Seven. A major step will be to accelerate Canada's sluggish regulatory processes, which have made it challenging to bring the country's resources to tidewater for shipping to overseas markets. A key goal of the legislation is to signal to investors that Canada is committed to successfully executing these projects, a government official told reporters in a background briefing on condition of anonymity. In considering whether a project is in the national interest, the government will examine five factors: whether it strengthens Canada's autonomy, resilience, and security; whether it provides economic or other benefits to Canada; whether it has a high likelihood of successful completion; whether it advances the interests of Indigenous peoples; and whether it contributes to clean growth and Canada's climate-change objectives. The government stressed that Indigenous groups, provinces and territories would be consulted on whether a project is in the national interest, and these groups can also bring forward proposals. The Assembly of First Nations has already raised concerns about the legislation infringing upon Indigenous rights and title. Carney met with the provincial and territorial premiers earlier this week to discuss the projects they'd like to see fast-tracked. After the meeting, he said there's potential for another oil pipeline being built in Canada if it's tied to billions of green investments to reduce the industry's environmental footprint. The bill also aims to remove barriers to trade between provinces, which have dragged down Canada's economic growth. The legislation would mean that when both a federal and provincial rule apply to a good or service involved in interprovincial trade, the federal rule will apply. But in practice, Carney's government will recognize items that comply with provincial rules as complying with federal ones, an official said. The bill also addresses labor mobility by recognizing provincial work authorizations, meaning that a worker can begin a federal job with only an Ontario license in hand, for example. The government will also eliminate all federal exemptions to the Canadian Free Trade Agreement by July 1. --With assistance from Brian Platt. Cavs Owner Dan Gilbert Wants to Donate His Billions—and Walk Again What America's Pizza Economy Is Telling Us About the Real One YouTube Is Swallowing TV Whole, and It's Coming for the Sitcom The SEC Pinned Its Hack on a Few Hapless Day Traders. The Full Story Is Far More Troubling Is Elon Musk's Political Capital Spent? ©2025 Bloomberg L.P. Sign in to access your portfolio
