As the Federal Reserve continues telling consumers inflation isn’t a problem, those in need of an affordable used car are seeing a problem. Used car prices are rising. Increasingly unaffordable cars may not threaten the economic recovery, but they do threaten the financial well-being of many families across the country.
History, especially the Black Death, allows us to study how economies recover from pandemics. COVID is different because governments have responded to the pandemic as if it was a war.
“How much house can I afford?” This the most important question in the real estate market. Every potential buyer wants to know how much they can afford before they start looking at homes. Before 2000, the answer was easy. Now, buyers could see values decline in the next few years as mortgage rates threaten buyers.
Retail sales reached a record high in March. The biggest gains were in clothing sales, restaurants, sporting goods and autos. Retailers should be placing orders with suppliers to replenish their depleted inventories.
The Fed has acknowledged that inflation will increase in the coming months. Evidently, the White House believes we should ignore the data, and their adjustments of wage growth.
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