Look, there’s lots to worry about starting with a sporadically cooling economy due to high inflation and soaring interest rates.
“Crash, correction or chill” looks at economic and real estate trends that offer hints about how deep housing’s troubles may be.California consumers continue to be antsy at the start of the holiday gift-buying season with shopper optimism sinking for most of 2022.My trusty spreadsheet analyzed the Conference Board’s monthly polling of shoppers, which creates various consumer confidence indexes, including one for California.California’s overall confidence index was 109.
Look, there’s plenty to worry late in 2022 such as high inflation, soaring interest rates and some high-profile layoffs in the technology industry. And politics – domestically and internationally – have, at best, lots of question marks.The California consumer’s view of current conditions is mushy. This index was 139.8 for November — down from 144.4 a month earlier and below 154.7 a year earlier. This measure averaged 162 in pre-pandemic 2018-19.
But shoppers’ outlook turned upbeat. This forward-looking “expectations” index was at 89.2 for November — up from October’s 86.8 but down from 97.7 a year earlier. This measure averaged 91 in 2018-19.The Conference Board tracks the nation and seven other states — Texas, New York, Florida, Illinois, Pennsylvania, Ohio, and Michigan. How did California compare?There were four increases among the seven states in November but no gains over the past year. Nationally, the U.S.
Then there’s the big unnerving trend: inflation. Americans polled expect the cost of living to be 6.2% higher in a year, up from 6.1% a month earlier but down from 6.3% a year earlier. Inflation of 4.7% was foreseen, on average, in 2018-19. And 40% see the stock market lower in 12 months, compared with 41% the previous month but up from 34% 12 months ago. Stock drops were predicted 27% of the time in 2018-19.The most worrisome number in the report is the growing pessimism about the U.S. jobs market. Layoff headlines are unnerving even if employment statistics still look promising.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
First Look: Aloha Chicken and ShrimpRex and Stephanie Hyewon Pak have opened a new location of their Aloha Chicken and Shrimp, which started in a gas station in Watauga, serving up combos of chicken, shrimp and bulgogi beef with a Hawaiian twist.
Read more »
China's 'zero COVID' policy: A look back as protests erupt across the countryProtests erupt in cities across China as citizens push back against the country's so-called 'zero COVID' policy. As most countries ease mitigation measures and focus on the importance of vaccination and boosting, China has kept the strict policy in place.
Read more »
Chinese in Southern California are sympathetic, worried for protesters back homeAcross Southern California, Chinese immigrants are watching the protests — the most extensive in China in a generation — with a mixture of sympathy and fear.
Read more »
Abortion rights backers look to build on success of ballot measures in 2024'The path to restore, protect or even expand abortion access and equitable access has to run through the states right now,' said Sarah Standiford of Planned Parenthood Action Fund.
Read more »
California photographer shares story of strangers daily, amassing thousands of photos over almost 7 yearsHe calls it a labor of love. Nearly every day for almost seven years, Bay Area photographer Brian Molyneaux has stepped out into his community and used the shutter of his camera to connect, taking photos of thousands of strangers he’s met on the street, to learn their story and then offer a window into their lives.
Read more »