As China's economic growth declines, some analysts say Beijing may have to spend more on infrastructure, adding to concerns about high debts.China Economyread more
U.S. President Donald Trump said Tuesday that Washington and Beijing have a long way to go on trade, adding that America could place tariffs on an additional $325 billion...Asia Marketsread more
"The charts, as interpreted by Carley Garner, suggest that the upside in the stock market has gotten more limited," Jim Cramer says.Mad Money with Jim Cramerread more
John Paul Stevens, who served on the Supreme Court for nearly 35 years and became its leading liberal, has died.Politicsread more
The largest U.S. banks are scrutinizing members of the Federal Reserve for any insight into how the central bank will tinker interest rates.Banksread more
The U.S. and China restarted their trade talks, but signs are showing a comprehensive deal could be a long way off, if it happens at all.Marketsread more
The WTO ruling recognized that the United States had proved that China used state-owned enterprises to subsidize and distort its economy. But the U.S. must accept Chinese...World Economyread more
Facebook's cryptocurrency project has already been met with skepticism from policymakers around the world.Technologyread more
Stone, 66, a notorious Republican political operative who has described himself as a "dirty trickster," had previously been dressed down by the judge for his public remarks...Politicsread more
Delta is gathering more data from customers than ever in hopes of avoiding customer service problems and increasing customer satisfaction, its CFO says.At Workread more
The Biden team's second-quarter Federal Election Commission filing shows that the campaign wrote a check of just over $5,300 on June 28 to Sheehan Associates for "strategic...2020 Electionsread more
California is often seen as a barometer for the rest of the nation's housing market. If that is the case, then housing this fall is not looking good. Southern California home sales fell to a three-year low in July, according to CoreLogic DataQuick, a research firm, with San Diego leading the way.
San Diego sales volume fell 18.5 percent in July from a year ago, a far deeper slide than the rest of the state. Prices are still higher than last year, but the gains are easing. The median price of a San Diego home hit $445,000 in July, up 6.6 percent from a year ago. The streak of double-digit annual home price appreciation in much of California ended in June.
"Homes that are in good condition and priced well are still selling quickly," said Geoffrey Schiering, a San Diego Realtor. "The inventory of homes for sale has risen slightly, but remains at a relatively tight 3-month supply. However, the number of closed sales has dropped substantially…this suggests that as some sellers have begun pushing their list prices higher, more homes are failing to sell."
Prices came a long way in a couple of years, and now a lot of would-be buyers just can't stretch their finances enough to buy in today's more conservative lending environment. That's not the only reason price appreciation is easing, but it's one of the main ones, " wrote Andrew LePage, CoreLogic DataQuick analyst in a report released Wednesday.
A big reason price gains are easing is because there are fewer investors and all-cash buyers in the market. The number of foreclosures and distressed home sales has been falling steadily; absentee buyers in southern California, largely investors, fell to the lowest level since 2010 in July. Cash buyers accounted for 24.5 percent of the market in July, the lowest share in more than four years.
—By CNBC's Diana Olick