• August 29, 2024

U.S. Pending Home Sales Hit Record Low in July Due to High Prices and Borrowing Costs

According to BlockBeats, the measure of pending home sales in the United States fell to a historic low in July due to high prices and borrowing costs. Data released showed that the index of signed contracts dropped by 5.5% last month to 70.2, marking the lowest level since 2001. This decline exceeded economists' general expectations, reflecting a decrease in sales across all four major regions.Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), stated in a release, 'The positive impact of job growth and increased inventory cannot overcome the challenges of affordability and a certain degree of wait-and-see attitude related to the upcoming US presidential election.' For nearly two years, the second-hand housing market has been sluggish due to high borrowing costs and insufficient inventory. Although mortgage rates have fallen to their lowest level in over a year this month, high home prices and limited inventory continue to deter potential buyers, who may still be waiting for even lower rates. Yun noted that a decrease in mortgage rates would undoubtedly attract buyers back into the market.

  • August 28, 2024

Telegram Founder Pavel Durov Faces Allegations of Child Abuse in Switzerland

According to Foresight News, Telegram founder Pavel Durov has been accused by his former partner, Irina Bolgar, of harming their youngest son on five occasions between 2021 and 2022. The child was born in September 2017. These allegations were made a few months after Bolgar accused Durov of ceasing to pay her approximately $167,500 per month in child support.Bolgar's lawyer confirmed that she and her three children are involved in this civil case. However, he declined to comment on any criminal proceedings related to the matter.