Article
US New Home Sales Collapse By Most In 13 Years In January
US New Home Sales Collapse By Most In 13 Years In January
Despite falling mortgage rates, analysts expected December's drop in new home sales to accelerate in January... and accelerate they did... crashing a stunning 17.6% MoM (-2.7% MoM exp) - the biggest MoM drop since July 2013.
This huge MoM drop dragged sales down 11.3% YoY - the worst slide in three years...
Source: Bloomberg
This huge drop dragged the new home sales SAAR down to its lowest since 2022, catching down to existing and pending sales...
Inventories are up (Houses for sale...
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Can We Have Our Humans Back? Companies Rethink AI
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The artificial intelligence revolution may not be eliminating human jobs as quickly as some feared. Rising computing costs, operational headaches, and inconsistent results are prompting some companies to change course and bring workers back.
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