Key Findings Construction of residential parking spaces peaked in 2012. Builders will provide more housing and less parking across the U.S. next year as more cities start letting developers decide how much parking to build. Still Lots of Parking, But Dropping Fast Less parking will be built for 2017’s new homes than was built for …
What happens when thousands of good jobs suddenly appear in your neighborhood, but you don’t have the skills to get hired? It’s as if a UFO full of money landed in your backyard, but the cash is locked in another dimension. Now imagine the backyard is Menlo Park, California and the UFO is Facebook’s headquarters. …
Europe and Greece are friends again, or at least frenemies, and all eyes are on Fed Chair Janet Yellen. She talks to Congress this week and could offer clues on interest rates. Economic data has been OK, but not great. This week, we’ll get a look at retail sales, inflation, home construction and Pluto.
Greece is running out of banknotes, China is throwing bundles of cash into its frenzied stock market, and Puerto Rico needs money to pay bills. When the global economy gets chaotic like this, the world’s wealth managers – pension funds, governments, and other big investors – look for a safe place to ride things out.
Hold on to your tweedy cap. Despite decent jobs data last week, the U.S. economy faces headwinds. Americans are dropping out of the workforce and no one yet knows whether the Greek drama is a tragedy or comedy of errors. There’s China and Puerto Rico to contend with, too. In housing news this week, we get more jobs data, Janet Yellen speaks and Congress will give us a taste of their annual fall spending battle. D.C. gets its own beach for the summer and it might be the only shark-free zone in the city.
Employers added 223,000 jobs in June and unemployment fell. But as always, there’s more to the story. The number of Americans working or looking for work fell to its lowest in 37 years. Back then, a 30-year mortgage was 9 percent and rising fast. One month doesn’t make a trend, but 15 years does. That’s about how long people have been dropping out of the workforce.