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Tariffs are back, but this time there is a war in the Persian Gulf and oil has hit $100 a barrel.
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Trump jokes mostly fall flat at WHCA dinner as he attacks journalists and political foes CNN‘Is This Supposed to Be Fun?' Trump Hurls Insults at Correspondents' Dinner The New York TimesTrump bombed at the White House Correspondents' Dinner — and proved its point CNNJournalists urge correspondents' association to stand up to Trump at rescheduled press dinner AP News
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Canada's Doug Ford on Trump trade war: "When someone comes up and punches you in the face ... you have to stand up" CBS NewsOpinion | Tariffs Will Long Outlive Trump The New York TimesScientists decry Trump's ‘blame game' after he claims Canada ‘poisoning' US air The GuardianPrime Minister Carney says Canada is ready to respond if Trump's new tariffs go into effect AP NewsTrump jokes about tariffs for Mexico's lettuce, Canada's wildfire smoke
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FT analysis shows extent of enormous progress since ‘airpocalypse' — and latest emissions increase
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After two years of a red-hot market, it's time real estate and mortgage professionals get ready for what could be a slowdown in their business.
Earlier this summer housing prices were on fire. Now there is talk of a "housing recession." Due in part to higher mortgage rates and more people vacationing this summer, U.S. existing home sales fell in July for the sixth straight month, the longest streak of declines in more than eight years.
SEE MORE Is Your Job Burning You Out?
One of my clients in the Midwest put his home up for sale recently and has had no interested buyers - none. A few months ago, we were certain it would sell in days. The plan was to sell the house and pay off their construction loan on their new home before it converted to a permanent mortgage. Now, that plan may need to change.
Several mortgage companies have already let go thousands of employees, and one company, Sprout Mortgage, based in East Meadow, N.Y., shut down in early July. Real estate brokerage companies, such as Compass and Redfin, have also slashed their workforce.
Real estate is cyclical, and while sales will not totally dry up, anyone tied to the industry should get their finances in order now in case the current downturn lasts another several months.
Here are a few moves to consider:
Build an Emergency Fund Twice as Big as a Salaried Worker's
No one wants to get caught borrowing money to pay their bills. While putting away enough money in a savings or money market account to cover six months of expenses is normal, it's best to plan for a longer period if you work in a cyclical industry.
Consider keeping six to 12 months of r
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