
💼 News Update
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💸 Cash Crunch Chronicles: WalletHub's survey reveals Michigan as the most financially distressed U.S. state, with Southeastern states generally showing higher levels of economic worry — Fox Business
💸 Wallet Woes Abound: Personal income growth slows while spending outpaces savings, potentially reducing consumer spending as Americans dip into their reserves to maintain lifestyles — NAHB
🏙️ Boom Goes the Bust: Seven pandemic "boomtowns" are expected to see significant drops in home values by the end of 2025 due to changing work patterns, inflated prices, and shifting buyer preferences — Yahoo! News
🏢 Property Peril Peaks: Commercial property distress in the U.S. reached $94.2 billion in Q2 2024, with office and apartment sectors leading the surge, particularly in major markets like San Francisco and Manhattan — Globe St
🍔 McRich: McDonald's new CosMc's concept is attracting wealthier customers with its smaller, more upscale menu, showing higher average household incomes compared to traditional McDonald's locations — Globe St
🏠 Million-Dollar Starter Kit: First-time homebuyers face a steep $1 million entry point in 237 U.S. cities, with California leading the pack and nationwide starter home prices surging 54.1% over five years — Globe St
💎 Luxury's Lavish Leap: Luxury home prices soared 8.8% year-over-year in Q2, outpacing non-luxury homes, as high-end buyers remained resilient to market challenges — Redfin
🏠 But, Malaise in Mansion Sales: Home sales decline as listings linger longer on the market, with over 64% of homes taking more than 30 days to sell amid high mortgage rates and unrealistic pricing — HW
🏠 No Sale-Ebration All Around: Existing home sales drop as inventory rises, signaling a shift from a seller's to a buyer's market, with median prices hitting record highs despite slowing activity — Globe St
👥 Small Town, Big Shoes: Rural communities struggle to fill multiple roles as aging workforce retires, leaving few to perform essential services in small-town America — WSJ