Market is becoming easier for buyers slowly
As the housing market enters the fall season, sellers across the nation are
lowering home prices. This price adjustment is particularly noticeable in
regions where home prices surged during the pandemic.
According to USA Today, citing data from Realtor.com, the median national
price-per-square-foot listing for homes in August dropped 1.8% compared to
the same month last year. This marks the tenth consecutive month of
year-over-year price declines since the pandemic. It signals a gradual
normalization in a market that had seen extreme price surges.
By region, home prices fell in four major regions, with the Northeast
experiencing the sharpest decline at 3.6%. The West dropped 2.6%, and the
South fell 2.1%. The Midwest maintained prices roughly similar to last year.
Specifically, among the top 50 metropolitan areas nationwide, 36 areas saw
reductions in their median price-per-square-foot listing.
Leaving Small Business Clear in Korean Business
Economy… Salaried Workers, Retirees Up
Looking at changes in Korean American employment over the six years since
2020, the trend of “leaving small business” is clear. The proportion of
self-employed individuals grew from 24.4% in 2020 to 19.6% in 2023, and
reached 17.6% in 2026. Conversely, salaried workers fell from 22.9% in 2020
to 35.3% in 2023, before settling at 33.3% in 2026.
While the proportion was higher than in 2020, it decreased compared to 2023.
This indicates that while the proportion of self-employed individuals who once
formed a core pillar of the Korean economic community has declined, the
transition to salaried positions has hit a wall. Analysis suggests that Korean
economic activity is shifting from self-employment to salaried employment, and now toward retirement.
August Core CPI Exceeds Expectations… Market
Speculation Grows for Rate Hike
CPI Up 3.4% YoY (Meets Expectations)… Core CPI Up 0.3% MoM. Energy
Sector Drives Price Increases… Rate Hike Probability Rises to 83%.
U.S. inflation remains robust. As Core CPI (excluding volatile energy and food)
exceeded expectations, views grew that the Federal Reserve (Fed) might
raise benchmark interest rates at this week’s FOMC meeting.
The Bureau of Labor Statistics reported that the August Consumer Price Index
(CPI) rose 3.4% year-over-year, matching Dow Jones forecasts.
However, Core CPI rose 0.3% month-over-month, slightly higher than the
0.2% expected, driven largely by a 3.9% surge in gasoline prices.
According to CME FedWatch, the probability of the Fed hiking rates by 0.25
percentage points at the upcoming FOMC meeting jumped to 83.4%.
Treasury Buyback Failes to Ease Rise in Yield
U.S. government bond yields climbed to fresh multi-year highs on Wednesday
after the Treasury Department said it would repurchase as much as $6 billion of longer-term debt at a buyback operation on Thursday,
disappointing some investors who had thought that a larger amount was possible.
For Treasury Secretary Scott Bessent, who promised to go big to bring down bond yields, his efforts, so far, aren’t big enough.
Calling himself the “nation’s top bond salesman,” Bessent stated early in
President Trump’s first term that lowering bond yields was a priority for the
administration—a goal that has been repeatedly thwarted by factors like
Trump’s war in Iran and his tariffs, as well as by events outside the administration’s control.
Mathematician leaves industry with warning of existential risks
An Anthropic researcher is quitting the AI industry over fears that the indistry is
racing to build systems they won’t be able to control, a sign of mounting safety
concerns within top AI companies.
Jacob Coxon, a researcher who specializes in training AI models by having
them consume vast amounts of data, said he is leaving the company because
he doesn’t want to participate in an industrywide rush to build AI systems,
worried such systems could spiral out of control and destroy humanity.
Top scientist at the company, Evan Hubinger, wrote on X that he thought
Coxon was correct about the risks of AI development.
Mentions legislative efforts by Sen. Bernie Sanders and Rep. Greg Casar to
pause superintelligence development.
Contextualizes Anthropic’s background safety focus and upcoming initial public offering (IPO).
Join The Discussion