🚀 House Prices Rising

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Market Overview
Read time 1.4 minutes

Year To Date Performances:

1. Despite rising mortgage interest rates, home prices hit a new record on the S&P CoreLogic Case-Shiller U.S. National Home Price Index, with prices in June 2024 being 5.4% higher than a year earlier. New York led with a 9% annual increase, while Portland saw the smallest gain at 0.8%. The report also highlighted that low-tier homes in markets like New York and Atlanta have outperformed higher-tier homes over the past five years. Even as mortgage rates soared, prices continued to climb, though they may ease slightly in the fall due to seasonal factors.

2. Meta CEO Mark Zuckerberg revealed that the Biden/Harris Administration "pressured" the company to censor COVID-19 content, including humour and satire, in 2021. In a letter to the House Judiciary Committee, Zuckerberg expressed regret for not resisting the government's push more strongly despite Meta making the final decisions on content removal. The White House defended its actions, stating that its efforts aimed to protect public health during the pandemic. This disclosure adds to the ongoing debate over the balance between public safety and free speech on social media platforms.

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4. Headlines

   1. Apple will announce the new iPhone and Apple Watches at a September 9th press event.

   2. Eli Lilly has launched a budget version of its weight loss drugs without the injector pen, reducing costs to $399-$549 per month.

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