What I’m Reading
The Waiting Game: Buyers who signed contracts for new homes are now facing the risk that rising mortgage rates will make them unable to afford it by the time the home is completed. Wall Street Journal
Open the Gates: More than four dozen former national security leaders are calling on Congress to exempt international advanced technical degree holders from green card caps in a bid to maintain U.S. science and tech leadership, especially over China. Axios
High Water Mark: Multifamily investment in Q1 hit an all-time high, accounting for the strongest first quarter on record and increasing 56% year-over-year to $63 billion. Globe Street
Moment of Truth: Some of the economy’s most in-demand employees are about to find out how much power they have over where and how they work. Tech companies are bringing workers back to the office. However, two-thirds of the workforce said they would find a new job if required to return to the office full-time, according to a survey of more than 32,000 workers by ADP Research Institute. Wall Street Journal
Headwinds Everywhere: The global economy is facing no shortage of headwinds right now, from inflation to falling asset values, war and recession in Europe, rising debt levels and insane zero COVID policies in China. The Atlantic
Chart of the Day
China is the world’s largest user of commodities. Plunging import volumes indicate that we could see a substantial drop in commodity prices in the not too distant future.
Source: Stenos Signals
WTF
When You’ve Gotta Go: A restaurant manager in Vancouver, WA allegedly urinated in the milkshake for his own “sexual gratification” because Arby’s. NY Post
Fore! A man was spotted golfing on the side of an interstate because Florida. NBC 2
Basis Points – A candid look at the economy, real estate, and other things sometimes related.
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