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1-year breakeven inflation rate jumps to 4.62%, highest in nearly 4 years

The one-year breakeven inflation rate jumped to 4.62% based on U.S. Treasury yield curve data, reaching the highest level in nearly four years. The reading, derived from the gap between nominal and real Treasury yields at the one-year maturity, reflects a sharp repricing of near-term inflation expectations by bond market participants. That gap has widened…

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California mansion tax is strangling new construction, study finds

Los Angeles’s voter-approved transfer tax on high-value property sales, formally called the United to House L.A. Real Property Transfer Tax, has triggered steep declines in building permits, land transactions, and multifamily housing production across the city. A growing body of academic research from UCLA, UC Irvine, UC San Diego, and Harvard now links the levy…

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