📈Round-up for the week
We’re doing a news round-up this week
The latest on interest rates
Fed can stay 'patient' after inflation data as odds rise on a December rate hike (Yahoo Finance)
September's inflation report showed prices rising at a similar pace to August, with a downward trend in price increases when excluding volatile categories like food, energy, and shelter.
The Federal Reserve faces the challenge of bringing inflation back to its 2% target, with a 12% chance of a November rate hike and a 37% chance of a December rate hike according to market data.
While some economists believe the Fed can afford to be patient due to the downward trend in inflation, others express concerns about inflation not decreasing and the potential for a rate hike in December, particularly related to housing costs.
Mortgage rates
The Housing Affordability Problem Is Creating A Nation Of Renters (Financial Samurai)
Housing affordability in the US is at or near an all-time low, partly due to aggressive rate hikes by the Federal Reserve and excess stimulus spending during the pandemic.
The post acknowledges that various factors, including demographics and underbuilding, have made homeownership unattainable for many first-time buyers.
The Federal Reserve's actions, such as raising interest rates, may be contributing to the growing divide between homeowners and renters, potentially supporting the growth of the investor class and reducing the government's burden in providing for older generations. The post suggests that individuals should aim to own their primary residence and invest in rental properties to secure their housing future.
Gets some action
Week 6 NFL Picks Against the Spread (The Ringer)
Week 5 was supposed to give us an instant classic between the San Francisco 49ers and Dallas Cowboys. Instead, we got a 42-10 blowout. Also last week, the Cincinnati Bengals showed signs of life while the New York Giants and New England Patriots continued to embarrass themselves. And the Detroit Lions kept rolling. What’s in store for Week 6? Let’s get to the picks!
Long read
The Hunt for the Most Elusive Creature in the Sea ($ The New Yorker)
The giant squid has taken on a near-mythical status for generations of sailors, explorers, and writers. How could something so big remain unseen—or be less understood than dinosaurs?
O’Shea has spent the last five years mapping out where to find a baby giant squid and puzzling over how to catch one and grow it in a tank. This year, he told me, he would venture out during the summer nights of the Southern Hemisphere, when giant squid released their babies. “Come on down, mate,” he said. “We’ll see if we can’t find the bloody thing and make history.”
On the bookshelf
The Self Directed IRA Handbook by Mat Sorenson
Thanks to Rivers and Sam at Anchor Point Lending for bringing this book to our attention. Subscribe to their newsletter for more.
The Handbook clearly explains the prohibited transaction rules, investment structures, common self-directed IRA investment assets (real estate, a private company, IRA/LLCs, private equity, hedge funds, crowdfunding, precious metals), and IRA tax pitfalls (UBIT & UDFI tax). The Handbook also includes extensive FAQs after each chapter, and nearly 130 citations to cases, statutes, rulings, and opinions from the IRS and DOL.
LOL of the week
