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- ‘It could cost me £10k but I need the money now’: Why Gen Z are opt...
A growing number of people are opting out of these schemes due to cost-of-living pressures. [TheTopNews] Read More.1 hour ago - The wealthy Cuban Americans ready and waiting for Havana to fallCuban exiles in Florida are increasingly hopeful that regime change in Cuba is now on the horizon. [TheTopNews] Read More.1 hour ago
- LARRY KUDLOW: Now is the time for Jay Powell to resign
There hasn’t been much media to-do about this. So let me try to bring to your attention the Wall Street Journal editorial page calling for Jerome Powell to resign today. Is anybody talking about it? Well one person who talked about it before the editorial was published, was, wait for it…. Hang on… I don’t mean to shock you — President Trump.Here’s a few snippets from what he said yesterday: "Jay Powell is a disaster. He’s a I call him too late because he was too late with interest rates." The president added that, of the Fed’s headquarters renovation, "he could have done it for $50 million. I think I could have done it for $25 million. I would have left the walls. I would have left those gorgeous ceilings. We would have spackled them up and fixed them up and painted them up, and they would have been beautiful. It would have been good for another 100 years. He ripped them down and now they’re putting up sheetrock. Just straight sheetrock. Mr. Trump said "you would have had new electric, new air, new everything, and they wouldn’t have been ripping down gorgeous eagles all over the ceiling." He concluded that "the reason they have no insulation, he said it wasn’t in the budget, wasn’t it in the budget? You know, insulation is a penny a foot. It’s horrible what they’ve done. He’s incompetent. And a man that’s incompetent should not be sitting on the Federal Reserve Board." So nobody’s really shocked to hear Mr. Trump.But the Journal’s editorial board, commenting on the report of the Fed’s inspector general, said: "The salient point is that this project fell victim to as much incompetence as you’d expect, and no criminality." This according to the publication of Inspector General Michael Horowitz. The Journal goes on to say: "Budgeted for $1.3 billion, the current cost estimate has ballooned to $2.4 billion and it’s on track to be completed three years behind schedule." Mr. Horowitz describes "a long and expensive comedy of errors." Macroeconomists at the Fed kept changing building designs, with poorly written contracts for contractors. And the Journal concludes: "Picture the faculty lounge trying to build a new football stadium."The new Fed chairman, Kevin Warsh, being a much smarter fellow than his predecessor, has turned the Fed rebuilding project over to the General Services Administration, which has a lot of experience with building… [TheTopNews] Read More.2 hours ago - Buying a new home is now cheaper than an existing one in many marketsBuying a newly built home is now cheaper than purchasing an existing one in many U.S. housing markets.Newly built homes now offer better value than existing homes nationwide and across one-third of major U.S. metro areas. In July, they sold for a median of $205 per square foot, compared with $212 for existing homes, according to a new Zillow analysis.From 2018 through 2024, newly built homes sold for more per square foot than existing homes in 77 of 84 months."For years, buyers assumed new construction was out of their price range, and for most of the last decade, they were right," Zillow senior economist Kara Ng said in a statement to FOX Business. "That's changed. Zillow’s research finds new homes now sell for a median of $205 per square foot nationally, compared to $212 for existing homes."TOP REAL ESTATE MOGUL ISSUES STARK WARNING AS CALIFORNIA BUYERS SAY 'ENOUGH IS ENOUGH' ON TAXESNg added, "Buyers who haven't looked at new construction recently owe it to themselves to look again."Over the past 19 months, builders have increasingly cut prices and offered incentives to move inventory. New homes sold at a discount to existing homes in 17 of those months, Zillow reported.High mortgage rates have also kept many homeowners in place, reducing the supply of existing homes, the report noted.The biggest discounts are concentrated in the Sun Belt, where a surge in homebuilding has given buyers more options.Austin, Texas, tops the list, with new homes selling for 19.3% less per square foot than existing homes. AMERICA'S BEST AND WORST CITIES FOR HOUSING AFFORDABILITY RANKEDRaleigh, North Carolina, follows with a 14.4% discount, while Tampa, Florida, rounds out the top three at 12.4%."Buyers are finding the biggest deals in the places where builders were most active," Ng said. "Builders in those markets have inventory to move, and they know it, so prices are coming down, and they're sweetening deals with things like mortgage rate buydowns that a typical resale seller just can't offer."Nationally, new homes accounted for 12.6% of all home sales in the 12 months through July 2026, though their share varied widely by market.New construction represented 37.1% of home sales in San Antonio and 33.6% in Raleigh, compared with just 2% in Hartford, Connecticut.LUXURY REAL ESTATE CEO GIVES BLUNT RESPONSE AS NYC RENTS SOAR OVER $100K AMID NEW PIED-À-TERRE TAXGET FOX BUSINESS ON THE GO BY CLICKING HERE"What's happening in high-supply markets is proof of… [TheTopNews] Read More.3 hours ago
- October could be a huge month for the stock market. Here’s why.Investors have survived September, the historically worst month of the year for stock market returns.Outside of February (which has an average return that's just barely negative), September is the only month to average a negative return for the S&P 500. The S&P 500 was actually positive for September this year, although it wasn't a very large positive gain – less than 1%. However, that primes the market for October.The S&P 500 has averaged about a 0.9% positive return in October, making it one of the better months (although not as good as November or December). I think there's a huge opportunity coming in October, and it could send the market skyrocketing.October is the start of the fourth quarter, which means companies will start to report their third-quarter results. There are some highly anticipated Q3 earnings reports coming out soon, including many of the AI hyperscalers. We'll get updated on how businesses like Alphabet, Amazon and Microsoft are doing in the second half of the month, and what they say could shape how the market performs through the end of 2026.META PUTS POPULAR NEW TOOL IN HANDS OF SMALL BUSINESSESThese three tech megacaps are spending hundreds of billions of dollars to build new AI computing capacity in data centers. So far, the growth rates their respective cloud computing businesses have put up have made these investments worth it. This trio may decide to use their next earnings reports to reveal 2027 capital expenditure guidance, which could cause the markets to decline or soar based on the extent to which these three are planning on spending.It's already widely assumed that these three will increase their capital expenditures in 2027, but the question remains as to how much. I think they will make hefty hikes to their capex budgets, but that they will justify that spending by reporting further massive revenue growth from their cloud computing divisions.SILICON VALLEY ACADEMY OFFERS TUITION-FREE ALTERNATIVE TO COLLEGE FOR YOUNG TECH BUILDERSTake Alphabet's Google Cloud, for example. In Q2, its revenue rose 82% year over year, and it delivered a 36% operating margin. That's an incredible business, and if Alphabet has customer demand for more capacity (which it does), it should be commended for heavily investing in this business unit.I expect Amazon and Microsoft to say the same thing, which could send their shares skyrocketing. This would also have positive implications for chip providers like Nvidia, Taiwan… [TheTopNews] Read More.3 hours ago
- What’s gone wrong at Nike? How the world’s sportswear giant lost its...Several self-inflicted mistakes have cost the biggest sportswear brand on the planet in recent years. [TheTopNews] Read More.3 hours ago
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