Money, Wealth & Power—A Daily Look at the Financial World
Home values are slipping across the country, and the pullback is no longer confined to a few overheated neighborhoods. More than half of U.S. properties have given up ground over the past year, and in some once red-hot metros, the share of homes losing value is so high it amounts to a near wipeout for…
Foreclosure activity is climbing again, a clear sign that the financial strain built up during the past few years is finally breaking through the surface of the housing market. A 19 percent jump in filings is not yet a repeat of the last housing crash, but it is a sharp enough move to signal that…
Wall Street is confronting a cyber incident that cuts to the core of how modern finance actually runs, through sprawling data vendors that sit between banks and the real economy. A hack at a major real estate technology provider has forced some of the biggest lenders in the United States to trace where their information…
New and used vehicles are now so expensive that a basic trip to the dealership can feel like a luxury purchase rather than a routine necessity. Sticker prices on mainstream models have climbed to historic levels, and the cost of financing has risen alongside them, leaving buyers squeezed from every angle. I am seeing a…
In some of the country’s priciest ZIP codes, buyers are now wiring seven and eight figures for nothing more than dirt, treating vacant parcels as luxury assets in their own right. The spectacle of record-breaking prices for empty land is colliding with a worsening housing shortage, and the contrast is fueling anger far beyond the…
Satoshi Nakamoto’s legendary Bitcoin fortune has just absorbed one of the largest single paper losses in modern financial history, with the value of his holdings dropping by roughly $47 billion as the crypto market lurches lower. The hit reflects how concentrated his position is in Bitcoin and how violently the asset’s price can swing when…
Michael Burry has picked a new fight, and this time his target is Nvidia, the market’s favorite avatar of the artificial intelligence boom. His aggressive wagers against the chip maker and its ecosystem have collided with a frothy online culture that is turning his skepticism into viral content, memes, and a broader referendum on the…
Artificial intelligence is already reshaping who gets rich in the digital economy, concentrating new fortunes in the hands of founders, early employees, and investors who moved fastest while most people interact with the technology only as consumers. The gap is not just about owning stocks in big tech firms, it is about controlling the infrastructure,…
Wall Street’s latest bout of turbulence has a new scapegoat: Bitcoin. As stock indexes whipsawed and liquidity briefly thinned, traders and strategists rushed to connect the dots between a sharp crypto selloff and the violent swing in equities, arguing that the same speculative forces driving digital coins are now hardwired into the broader market. I…
New York City’s latest housing push, centered on a 99-unit threshold that unlocks lucrative tax breaks, is reshaping what gets built and where. As projects stack up just under that line, the pattern is starting to collide with the mayor’s promise to deliver both more homes and more equitable growth. I see a growing tension…