Existing home prices in the U.S. p0sted the biggest year-over-year decline in more than 11 years in May as rising interest rates continued to weigh on the housing market, Grumpy Editor noted in The Wall Street Journal.
National median existing home prices fell 3.1 percent to $396,100 in May vs. the same month last year. It was the largest drop since December 2011, according to the National Association of Realtors.
Mortgage rates have fluctuated since hitting 20-year-highs above 7 percent in October and November.
IN CASE YOUR FAVORITE NEWS OUTLETS MISSED THESE…
NATIONAL GUARD STRUGGLES TO YIELD RECRUITS. National Guard continues to find it difficult to attract recruits. However, it hopes to get closer to recruiting goals this year while battling private companies such as FedEx, Micosoft and Wendy’s.
CHARITY DONATIONS DECLINE. Americans gave the lowest percentage of disposable income to charity last year since 1995, per a new Giving USA report, adding total amount of charitable giving fell 3.4 percent last year to $499.3 billion — a 10.5 percent decrease when adjusted for inflation.
SEARCH ON FOR ‘HERO’ DOG. Colombia is searching for a dog named Wilson that aided in finding missing children in the Amazon. The Belgian Shepherd became a national hero in that country when he helped the military find four children who survived a plane crash and were lost in the jungle for 40 days. Wilson went missing during the search and is the target of a rescue operation.
MORE BARRIERS PLANNED FOR COCKPITS. A new FAA rule will make it more difficult to break into airplane cockpits. Planes built after mid-2025 will have seconday barriers when the main cockpit door is open.
SHALLOWER WATER AFFECTS PANAMA CANAL. Because of the drought and shallower water, container ships in the Panama Canal will be limited to a depth of 43.5 feet. Largest ships that go through the canal are Panamax container ships that require at least 43 feet to pass through.
BEAR TRIES TO ENTER SECOND STORY WINDOW. In Colorado, a bear tried to climb through a second story window, then got stuck dangling from it. Colorado Fish and Wildlife was called to rescue it.
NEW ASSAULT VEHICLE SET FOR ARMY. The Army unveils a new assault vehicle with firepower of giant tanks but is a fraction of the size. It is seen as rewriting the battlefield understanding of how tanks are used in combat.
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