A for sale sign is seen near a house for sale in South Pasadena, California on April 24, 2020.Frederic J. Brown | AFP | Getty ImagesHome prices were still gaining steam in March, as the country began shutting down in the face of the coronavirus pandemic. On a national...
The Annapolis Townhome model at Clarksburg Town Center on April 28, 2020 in Clarksburg Maryland.Benjamin C. Tankersley | The Washington Post | Getty ImagesIn one of the brightest economic readings since the start of the coronavirus pandemic, sales of newly built homes rose nearly 1% in April compared...
It's not as if the coronavirus pandemic has gone away, but after a sharp pullback, homebuyers are now piling back into the housing market much faster than expected.Mortgage applications to purchase a home rose 9% last week from the previous week and from a year earlier, according to...
The Bronx Chamber of Commerce is worried the retail vacancy rate will skyrocket due to the shutdown caused by the pandemic.Spencer Kimball | USThe already dismal outlook for economic growth during the current period just got considerably worse.Gross domestic product, which tallies the sum of goods and services...
The U.S. economy could shrink by upwards of 30% in the second quarter but will avoid a Depression-like economic plunge over the longer term, Federal Reserve Chairman Jerome Powell told "60 Minutes" in an interview aired Sunday.The central bank chief also conceded that jobless numbers will look a...
Luis Mora stands in front of the closed offices of the New York State Department of Labor on May 7, 2020 in Brooklyn, New York City.Stephanie Keith | Getty ImagesThe coronavirus pandemic created a huge crash in new job hiring in March and early April, but the worst...
The U.S. economy has faced a substantial loss due a nationwide shutdown. On April 29, the Bureau of Economic Analysis reported that the gross domestic product shrank by 4.8% in the first quarter, the lowest it's been since the worst of the 2008 financial crisis. It's partially due...
Senate Majority Leader Mitch McConnell, a Republican from Kentucky, speaks during a news conference following the weekly Senate Republican caucus luncheon in Washington, D.C., U.S., on Tuesday, May 19, 2020.Stefani Reynolds | Bloomberg | Getty ImagesSenate Majority Leader Mitch McConnell said the next coronavirus bill would not extend...
State reopenings have not yet helped stem the rise in unemployment, which is expected to show another big jump in the month of May. Weekly jobless claims totaled 2.4 million for the week ending May 16, bringing the total number of claims filed since late March to 38.6 million....
First-time filings for unemployment insurance totaled 2.44 million last week as the tail effects of the coronavirus shutdown continued to impact the U.S. jobs market.Economists surveyed by Dow Jones had been looking for 2.4 million claims.The seasonally adjusted total, while still well above anything the nation had seen...