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The Fed's Mortgage Policy Made Homeownership Cost More
The Fed's Mortgage Policy Made Homeownership Cost More
Authored by Antón Chamberlin via The Daily Economy,
The median household in Miami earns about $62,000 annually; homeowners with a mortgage have monthly housing costs pushing $2,900. Annualized, this equals more than half the median household income. In Los Angeles, the numbers come in at $82,000 and $3,500 for 51 percent. New Yorkers are paying 49 percent, and New Orleanians are paying 47 percent of their annual income on housing.
Elena Berd via Shutterstock.
Different coasts, different housing markets, different incomes, regulations, and supply constraints....
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Jun 28, 2026 / Tyler Durden
"Navigation Extremely Limited": Top Shipper Warns IRGC Mines Complicate Hormuz Normalization
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The top executive of Japan's largest shipping company told the Financial Times in an exclusive weekend interview that the path toward normalization in the Strait of Hormuz remains far more complicated than anticipated. He warned that shipping volumes may stay well below prewar levels for months, as IRGC-laid mines are forcing vessels into narrow, safer corridors near Iran and Oman.
"The routes available for navigation are extremely limited — they're very narrow corridors," Takaya Soga, chief executive of Japan's NYK...
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Jul 3, 2026 / Tyler Durden
Mamdani Delivers Anti-America Speech For The Nation's 250th Birthday
Mamdani Delivers Anti-America Speech For The Nation's 250th Birthday
New York City Mayor Zohran Mamdani sat at a desk to commemorate America's semiquincentennial, and the socialist wasted little time turning the occasion into an anti-America lecture. He told his audience they each hold "the power to determine what America means," then spent the rest of the speech explaining what it means to him, and it was mostly bad.
"The powerful have always known their answer," Mamdani said. "America, in their view, is an arena of supremacy, where only a select few...
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May 21, 2026 / Tyler Durden
Iconic American Beer Brand Discontinued After 177 Years
Iconic American Beer Brand Discontinued After 177 Years
Schlitz Premium, the storied lager once billed as “the beer that made Milwaukee famous,” is heading into retirement. Pabst Brewing Co. confirmed this week it is placing the brand on indefinite hiatus, ending production of the nearly two-century-old beer label founded in Milwaukee in 1849 that grew into one of America’s most iconic brews.
The decision, driven by rising storage and shipping costs amid softening demand for the value-priced brand, marks the latest chapter in a turbulent corporate saga. Wisconsin Brewing Co. in...
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