The real estate market is facing a significant challenge as sales of previously owned homes hit a 30-year low. In May, existing home sales were virtually unchanged, dropping by 0.7% from April to a seasonally adjusted rate of 4.11 million units. This trend represents a 2.8% decrease compared to the same period last year. The
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Forever 21, once a fast-fashion powerhouse with over 800 global locations, is now asking for a 50% rent reduction from landlords due to declining sales and fierce competition. The company’s failure to adapt to changing consumer trends and manage its inventory efficiently has led to its current predicament. Despite its financial woes, Forever 21 has
The construction of built-for-rent single-family homes is on the rise in the United States, with the National Association of Home Builders attributing this trend to the housing affordability crisis. As mortgage rates increase and buying a home becomes more challenging, renting is becoming a more viable option for individuals. According to Robert Dietz, chief economist
Recently, the Supreme Court made a decision on a federal tax challenge involving certain foreign investments. The case in question, Moore v. United States, centered around a Washington state couple who faced taxes due to a one-time levy on earnings and profits in foreign entities. This levy, known as the “mandatory repatriation tax,” was enacted
Casual-dining chains are experiencing a shift in consumer preferences as customers are becoming increasingly frustrated with the rising prices at fast-food establishments. Darden Restaurants CEO Rick Cardenas acknowledged this trend, mentioning that while Darden itself has not directly benefited from this change, competitors like Brinker International and Dine Brands are capitalizing on the opportunity to
New York has taken the lead in launching a new program that offers homeowners up to $14,000 in total rebates for energy-efficiency upgrades to their property. This initiative is part of the federal Inflation Reduction Act, which is the largest piece of climate legislation in U.S. history, signed by President Joe Biden in 2022. The
As members of Generation X approach retirement age, they are facing immense pressure when it comes to saving for their golden years. Gen X, born between 1965 and 1980, is caught in a financial dilemma sandwiched between caring for elderly parents and supporting their adult children. According to a 2024 report by Natixis Investment Managers,
Darden Restaurants recently reported mixed quarterly results, with one of its most well-known chains, Olive Garden, experiencing a decline in same-store sales for the second straight quarter. This disappointing trend is a cause for concern for the company, as Olive Garden has historically been a key contributor to Darden’s overall success. Looking ahead to fiscal
The box office has been missing a vital component – family-friendly films. Despite a few successful hits like “Super Mario Bros.,” the absence of consistent family entertainment has been noticeable. Many family movies either opted for streaming debuts due to the pandemic or were spaced too far apart in release dates to create any significant
The United Arab Emirates is set to be the world’s leading wealth magnet for the third year in a row, attracting an unprecedented net inflow of 6,700 millionaires from around the world by the end of 2024. This data comes from the Henley Private Wealth Migration Report, signaling a significant shift in the global landscape