US home prices are poised to tumble - while bitcoin may surge to $50,000 by December, crypto investor says
could surge by two-thirds to $50,000 in under six months, the president of a cryptocurrency-investment firm says.
The Federal Reserve's fight against inflation has centered on lifting interest rates from nearly zero to north of 5% within the past 16 months. The US central bank is likely to raise them further and keep them there, ProChain Capital's David Tamil told Fox Business in a"It is going to crush some very interest-rate sensitive industries such as real estate," he said about that prospect.
Higher rates lift mortgage rates, making it more expensive to buy a home using debt. They also raise interest costs for property developers. As a result, they tend to weaken demand for real estate, pulling down prices. American households have been squeezed by historic inflation and higher interest payments on their mortgages, credit cards, car loans, and other debts. Yet home prices are still up about 40% since the COVID-19 pandemic struck in the spring of 2020, according to theIt's only a matter of time before higher interest rates sap demand and home values fall, at least in Tamil's view.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Save $50 on Google’s excellent Pixel 7A phone ahead of Prime DayGoogle’s Pixel 7A is an even better value now that it’s $50 off ahead of Prime Day
Read more »
Medical Mysteries: A surgeon’s ominous pain and a question of grilled meatThe vague pain in Thomas P. Trezona's upper abdomen began after he returned from a trip. A few days later, his pain worsened. Doctors tested for parasites, cancer and rare digestive disorders. But the cause turned out to be none of those things.
Read more »
Harry Styles the Latest Star to Get Pelted on Stage by ObjectNot even Harry Styles is immune from getting items chucked at his face during a concert.
Read more »
Study finds some pain medicines could soon be created from pine treesResearchers in England have determined an alternative to making pain medications like ibuprofen from pine trees rather than crude oil.
Read more »
Harry Styles Doubles Over in Pain After He Was Hit in the Eye While PerformingThis isn't the first time the Grammy winner was struck by an object onstage.
Read more »