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Sales of new homes fell short of expectations in October as mortgage rates hovered near 8 percent amid wider stresses in the U.S. housing market.
New single‐family homes sales came in at a seasonally adjusted annual rate of 679,000, compared to a predicted 725,000, according to data released Monday by the Census Bureau and the Department of Housing and Urban Development (HUD).
The numbers for October were 5.6 percent lower than for September but 17.7 percent higher than last year. That’s off a recent high of more than 1 million homes sold in October of 2020.
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The median sales price for a new house was $409,300, and the average price was $487,000, the Census Bureau reported.
The numbers come as existing home sales dropped in September to their lowest pace since 2010, according to HUD data.
September sales of existing homes fell 2 percent to a seasonally adjusted 3.96 million units from 4 million in August, dropping by 15.4 percent on the year, HUD reported, citing National Association of Realtors (NAR) data.
“Month-to-month house prices have increased modestly in the last several months, but mortgage rates have trended up recently, and inventories of existing homes for sale are still lean,” the agency said.
Following more than a year of interest rate hikes by the Federal Reserve in response to elevated prices throughout the economy, mortgage rates touched 8 percent in October, the highest level in more than 20 years.
Mortgage rates are affected by the level of interest rates, which now stand at a range of 5.25 to 5.5 percent, but they more closely follow the yield on 10-year U.S. treasuries.
The rate for a 30-year fixed mortgage has eased slightly since last month to 7.73 percent, according to financial data company Bankrate.
Sky-high mortgages have contributed to lower affordability of housing in general.
The Case-Schiller national home price index is now at the highest level on record, its trend line having steepened dramatically since the onset of the pandemic in 2020.
Both the NAR’s homeownership affordability index and HUD’s rental affordability index are at their lowest levels in decades.
The Fed has held off on further rate hikes at its last two meetings as inflation has decelerated throughout the economy.
After peaking at around a 9 percent annual increase last June, the consumer price index (CPI) fell to a 3.2-percent increase in October.
But shelter inflation is still high. Despite peaking in March at an 8.2 percent annual increase, costs have come down only slightly and are still up 6.7 percent year-over-year.
While the pace of price increases has abated, the overall level of many individual prices in the economy is still much higher than it was before inflation took off in the wake of the pandemic.
Prices are about 20 percent higher overall than they were before the pandemic, according to calculations released Monday by Bloomberg Economics.
“Groceries are up 25 percent since January 2020. Same with electricity. Used-car prices have climbed 35 percent, auto insurance 33 percent and rents roughly 20 percent,” the financial data service found.
“The government data reports that show easing inflation are cold comfort, because they simply indicate prices are growing at a slower pace, not that they are returning to early 2020 levels,” it said.
Housing activists and tenants rights organizations are letting lawmakers know they’re displeased with the state of housing and their rental burdens.
Tenants groups, including the Homes Guarantee, the Louisville Tenants Union and Neighbor to Neighbor, met with Rep. Pramila Jayapal (D-Wash.) on Capitol Hill earlier this month to advocate that more stringent tenant protections be attached to federal financing for housing.
“It’s not right that I work hard every single day, living paycheck to paycheck to make corporate landlords like Starwood Capital and Barry [Sternlicht] even richer. It’s not right that the federal government is in business with the slumlords who would have us live in squalor while they brag about raising our rents,” Louisville Tenant Union member Elizabeth Olvera Perez said in a statement earlier this month.
“The rent is too damn high,” Jayapal wrote online Nov. 15. “It’s time to end the housing crisis and deliver for Americans.”
Amid much speculation that the Fed’s rate-setting committee is now done raising interest rates, the U.S. central bank is still officially predicting one more quarter-point rate hike this year, to max out at a range of 5.5 to 5.75 percent.
Whether or not the Fed makes good on that prediction, some investors are already betting on cuts, and that markets are pricing them in.
The Wall Street Journal reported Monday that interest-rate futures indicated 60-40 odds that “the Fed will lower rates by a quarter-of-a-percentage point by its May 2024 policy meeting.”
That’s up from 29 percent at the end of October, according to CME Group data, the Journal reported.
Business, News, Policy, Census Bureau, Department of Housing and Urban Development, Housing, housing market, housing prices, Pramila Jayapal Sales of new homes fell short of expectations in October as mortgage rates hovered near 8 percent amid wider stresses in the U.S. housing market. New single‐family homes sales came in at a seasonally adjusted annual rate of 679,000, compared to a predicted 725,000, according to data released Monday by the Census Bureau and the…
Nearly 9 million Americans now live outside the United States—a number that rivals the population of several states and signals a profound shift in how people view the American dream. This mass migration isn’t confined to retirees or the wealthy. Thanks to remote work, digital nomad visas, and mounting pressures at home, young professionals, families, and business owners are increasingly joining the ranks of expats.
Living in the US has become increasingly expensive. Weekly grocery bills topping $300 are not uncommon, and everyday items like coffee and beef have surged in price over the last year. Rent, utilities, and other essentials also continue to climb, leaving many Americans to cut meals or put off purchases just to make ends meet. In contrast, life in countries like Mexico or Costa Rica often costs just 50–60% of what it does in the US—without sacrificing comfort or quality.
America’s health care system is a major trigger for relocation. Despite the fact that the US spends more per person on health care than any other country, millions struggle to access affordable treatment. Over half of Americans admit to delaying medical care due to cost, with households earning below $40,000 seeing this rate jump to 63%. Many expats point to countries such as Spain or Thailand, where health care is both affordable and accessible, as a major draw.
Public safety issues—especially violent crime and gun-related incidents—have made many Americans feel unsafe, even in their own communities. The 2024 Global Peace Index documents a decline in North America’s safety ratings, while families in major cities often prioritize teaching their children to avoid gun violence over simple street safety. In many overseas destinations, newly arrived American families report a significant improvement in their sense of security and peace of mind.
US tax laws extend abroad, requiring expats to file annual returns and comply with complicated rules through acts such as FATCA. For some, the burden of global tax compliance is so great that thousands relinquish their US citizenship each year simply to escape the paperwork and scrutiny.
Remote work has unlocked new pathways for Americans. Over a quarter of all paid workdays in the US are now fully remote, and more than 40 countries offer digital nomad visas for foreign professionals. Many Americans are leveraging this opportunity to maintain their US incomes while cutting costs and upgrading their quality of life abroad.
The mass departure of nearly 9 million Americans reveals deep cracks in what was once considered the land of opportunity. Escalating costs, inaccessible healthcare, safety concerns, and relentless bureaucracy have spurred a global search for better options. For millions, the modern American dream is no longer tied to a white-picket fence, but found in newfound freedom beyond America’s borders.
Hollywood is bracing for a pivotal comeback, and for movie lovers, it’s the kind of shake-up that could redefine the very culture of cinema. With the freshly merged Paramount-Skydance shaking up its strategy, CEO David Ellison’s announcement doesn’t just signal a change—it reignites the passion for moviegoing that built the magic of Hollywood in the first place.
Fans and insiders alike have felt the itch for more event movies. For years, streaming promised endless options, but fragmented attention left many longing for communal spectacle. Now, with Paramount-Skydance tripling its film output for the big screen, it’s clear: studio leaders believe there’s no substitute for the lights, the hush before the opening credits, and the collective thrill of reacting to Hollywood’s latest blockbusters. Ellison’s pivot away from streaming exclusives taps deep into what unites cinephiles—the lived experience of cinema as art and event, not just content.
On the financial front, the numbers are as electrifying as any plot twist. After years of doubt, the box office is roaring. AMC, the world’s largest theater chain, reports a staggering 26% spike in moviegoer attendance and 36% revenue growth in Q2 2025. That kind of momentum hasn’t been seen since the heyday of summer tentpoles—and it’s not just about more tickets sold. AMC’s strategy—premium screens, with IMAX and Dolby Cinema, curated concessions, and branded collectibles—has turned every new release into an event, driving per-customer profits up nearly 50% compared to pre-pandemic norms.
Forget the gloom of endless streaming drops; when films like Top Gun: Maverick, Mission: Impossible, Minecraft, and surprise hits like Weapons and Freakier Friday draw crowds, the industry—and movie fans—sit up and take notice. Movie-themed collectibles and concession innovations, from Barbie’s iconic pink car popcorn holders to anniversary tie-ins, have made each screening a moment worth remembering, blending nostalgia and discovery. The focus: high-impact, shared audience experiences that streaming can’t replicate.
Yes, streaming is still surging, but the tide may be turning. The biggest franchises, and the biggest cultural events, happen when audiences come together for a theatrical release. Paramount-Skydance’s shift signals to rivals that premium storytelling and box office spectacle are again at the center of Hollywood value creation. The result is not just higher profits for exhibitors like AMC, but a rebirth of movie-going as the ultimate destination for fans hungry for connection and cinematic adventure.
As PwC and others warn that box office totals may take years to fully catch up, movie lovers and industry leaders alike are betting that exclusive theatrical runs, enhanced viewing experiences, and fan-driven engagement are the ingredients for long-term recovery—and a new golden age. The Paramount-Skydance play is more than a business move; it’s a rallying cry for the art of the theatrical event. Expect more big bets, more surprises, and—finally—a long-overdue renaissance for the silver screen.
For those who believe in the power of cinema, it’s a thrilling second act—and the best seat in the house might be front and center once again.
Influencers are being paid as much as $7,000 per post by the Israeli government as part of an expansive and sophisticated digital propaganda campaign. This effort is designed to influence global public opinion—especially among younger social media users—about Israel’s actions in Gaza and to counter critical narratives about the ongoing humanitarian situation.
Recent reports confirm that Israel has dedicated more than $40 million this year to social media and digital influence campaigns, targeting popular platforms such as TikTok, YouTube, and Instagram. In addition to direct influencer payments, Israel is investing tens of millions more in paid ads, search engine placements, and contracts with major tech companies like Google and Meta to push pro-Israel content and challenge critical coverage of issues like the famine in Gaza.
The humanitarian situation in Gaza has generated increasing international criticism, especially after the UN classified parts of Gaza as experiencing famine. In this environment, digital public relations has become a primary front in Israel’s efforts to defend its policies and limit diplomatic fallout. By investing in social media influencers, Israel is adapting old-school propaganda strategies (“Hasbara”) to the era of algorithms and youth-driven content.
This campaign represents a major blurring of the lines between paid promotion, journalism, and activism. When governments pay high-profile influencers to shape social media narratives, it becomes harder for audiences—especially young people—to distinguish between authentic perspectives and sponsored messaging.
In short: Influencers are getting $7,000 per post because Israel is prioritizing social media as a battleground for public opinion, investing millions in shaping what global audiences see, hear, and believe about Gaza and the conflict.
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