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World shares mixed and oil prices retreat after the latest flare in Iran tensions AP NewsShares slide, oil prices elevated as U.S.-Iran truce prospects dim CNBCAsia stocks fall as Iran tensions rise; Australia dips as RBA strikes hawkish note Investing.comWorld shares are mixed, with sharp gains for tech stocks, while oil prices
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Man wounded after allegedly shooting at Secret Service near Washington Monument WTOPSecret Service Shoots and Wounds Armed Man Near Washington Monument The New York TimesSuspect shot, bystander grazed in Secret Service police shooting near National Mall NBC4 WashingtonGunfire between Secret Service and armed person briefly locks down White House The Washington Post
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The largest part of the economy took a hit in April from the fallout from the Iran war, a survey showed, but businesses still grew at a fairly robust pace even as they grew more cautious.
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The Secret Team Blowing Up Ford's Assembly Line to Make a $30,000 Electric Truck WSJFord's secret EV unit emerges from shadows, still bullish on new pickup amid market slowdown CNBCAfter Setbacks, Ford Says Its Affordable Electric Truck Is on Track The New York TimesI toured Ford's secret lab where it's designing an EV to compete with China Electrek
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Secret Service Shoots and Wounds Armed Man Near Washington Monument The New York Times1 shot, bystander grazed in Secret Service police shooting near National Mall NBC4 WashingtonSecret Service officers exchange gunfire with armed suspect near White House: USSS YahooGunfire between Secret Service and armed person briefly locks down White House The Washington Post
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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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