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Want more housing market stories from Lance Lamberts ResiClub in your inbox? Subscribe to the ResiClub newsletter. After announcing another 25-basis-point cut to the Federal Reserves short-term rate, Fed Chair Jerome Powellwhose term ends on May 15, 2026was asked about the U.S. housing market. Powell acknowledged that recent rate cuts wont restore affordability to the U.S. housing market. He suggested that the country needs to build more housing unitsand noted that central bankers don’t really have the tools to address it. Fed Chair Jerome Powell told reporters on December 10, 2025: So the housing market faces some really significant challenges, and I don’t know that, you know, a 25 basis point decline in the federal funds rate is going to make much of a difference for people. You know, housing supply is low. Many people have very, very low, low, low rate mortgages from the pandemic period, and they kept refinancing and caught the really low. So it’s expensive to them to move. And you know, we’re a ways away from that changing. Also, we’re just, we haven’t built enough housing in the country for a long time, and so a lot of estimates suggest that we just need more housing of different kinds. So housing is going to be, you know, a problem, and you know, really the tools to address it are we can, we can raise and lower interest rates, but we don’t really have the tools to address, you know, a secular housing shortage, a structural housing shortage. While Powell appears to suggest that a structural housing shortage is the underlying issue in the U.S. housing market, he acknowledged back in October that the Fed may have kept purchasing mortgage-backed securities (MBS) for too long during the Pandemic Housing Boomthough he added that its challenging to determine if and by how much it actually helped overheat the housing market during that period. Over the past year-plus, as the U.S. labor market has softenedwith the last published U.S. unemployment rate (4.4%) a solid clip above the cycle low in April 2023 (3.4%)and as the Federal Reserve has sought to move from restrictive toward neutral policy by making several cuts to short-term rates, weve also seen long-term yields and mortgage rates come down from their cycle highs. While Powell may be right that Fed policy changes right now alone are unlikely to return the U.S. housing market to average levels of affordabilitywere currently in the upper bandits worth noting that the recent mild decline in long-term interest rates, which the Fed does not directly set but which are influenced by financial markets expectations for the economy and future Fed policy, has been one of the levers that has helped nationally aggregated housing affordability improve a little this year. Indeed, last week the average 30-year fixed mortgage rate, as tracked by Freddie Mac, was 6.22%well below the cycle high of 7.79% reached in October 2023. “The bottom line is it appears 30-year mortgage rates will be in current range for some time barring a recession or a crisis,” wrote housing analyst Bill McBride earlier this week. Mortgage rates could still drift modestly lower next year, particularly if the spread between the 10-year Treasury yield and the 30-year fixed mortgage rate continues to compress. But the easiest mortgage-rate declines may already be behind us. To see a truly material downward shift in mortgage rates next year, many analysts believe it would take a more significant weakening in the labor market. Hypothetically speaking, if the unemployment rate were to spike and the economy weakened, financial markets could respond with a flight to safetydriving up demand for Treasuries, which would push bond prices higher and yields (including mortgage rates) lower. At the same time, the Fed could respond with emergency cuts to the federal funds rate and, if the downturn were severe enough, potentially resume purchases of mortgage-backed securities (MBS), adding further downward pressure on mortgage rates.
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E-Commerce
Airbnb may finally pay the price of long-simmering tensions about overtourism in Spain. The Spanish government announced on Monday that it has fined the online rentals giant 64 million euros ($75 million) for advertising unlicensed rental listings in the country. This decision is the latest in several months of back-and-forths, as the government previously ordered Airbnb to remove more than 120,000 listings it identified as unlicensed. While Spains Consumer Affairs Ministry said the fine was a final decision and couldnt be appealed, San Francisco-based Airbnb is reportedly planning to challenge it in court. The company didnt immediately respond to a request for comment from Fast Company. ADDRESSING HOUSING CRISIS A record 94 million foreigners visited Spain last year, a 10% increase from 2023, making it one of the most-visited countries in the world by tourists. But the proliferation of private tourist accommodations has contributed to a housing crisis and there have been several, large anti-tourism protests in the country in recent years. Tasked with addressing the housing crisis is Pablo Bustinduy, the consumer affairs minister. “There are thousands of families living on the edge because of the housing situation, while a few enrich themselves with business models that force people out of their homes,” Bustinduy said in a statement. No company in Spain, however large or powerful, can be above the law.” AIRBNB RESPONDS Airbnb issued a statement to several news organizations indicating that it has been working with the Spanish government since short-term rental rules changed in July to enforce a new registration system. On its website, Airbnb also has a lengthy explanation about responsible hosting in Spain. “Airbnb is confident that the ministry actions are contrary to applicable regulations in Spain and we intend to challenge this fine in court,” a company spokesperson said in a statement published by Reuters. Rental listings in Spain are still available for booking on Airbnbs website. While other companies similarly facilitate private rental agreements, this particular platforms popularity has made it a target of anti-tourism sentiment in Spain and beyond. In the southern beach town of Tarifa, for example, Airbnb indicates there are more than 800 listings available for a one-week, off-season rental in January. Whats more, there are also dozens of hotels in the area. The town has a population of less than 20,000 people. For the three months ended in Sept. 30, Airbnb reported quarterly revenue of nearly $2 billion for the Europe, Middle East, and Africa region, its second-largest market behind North America. That marked a 14% gain from the same period a year ago, more than the companys revenue growth of 10% across all regions. For a company with a market cap of more than $79 billion, investors dont seem too concerned about the prospect of a $75 million fine. Airbnb shares rose more than 2% in mid-day trading Monday, even as the tech-heavy Nasdaq Composite Index fell about 0.5%.
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E-Commerce
The holidays are the perfect time to show people that you appreciate their time, their effort, and the value they bring. But when it comes to giving gifts at work, most people are confused about what to do. Should you, or shouldn’t you, buy your boss a present? What about your coworkers or direct reports? How much should you spend for the office gift exchange? What about your office bestie? We asked the experts to weigh in, and here’s what they had to say. Is it acceptable to give holiday gifts at work? “To gift someone in the workplace is always acceptable, Alyse Dermer, founder of Mr. Considerate, a luxury gift concierge service, tells Fast Company. “Gifting can reinforce positive working relationships, strengthen team connection, and create moments that feel personal in a world that often feels transactional.” “People work hard,” Dermer adds. “You spend a lot of time with your coworkers, and they want to be seen. Its different from a company bonus. It doesnt need to be expensive, it just needs to be thoughtful. And thoughtfulness really lands.” Dermer says a good gift shows you appreciate people’s work and pay attention to their interests: “You work with these people everyday, you depend on them, they depend on you”and a gift should reflect that. Ask yourself: “Where are they in their life?” For example, is someone getting married? How about matching mugs or luggage tags? Or, does your coworker want to learn how to cook? You could get them a cookbook. Should I get my boss a gift? “If you feel compelled to gift your boss, it should be something modest,” national etiquette expert Diane Gottsman tells Fast Company. “Something they can use, such as an inexpensive office gadget, baked goods, or a box of fruit. Not wine, cologne, or a tie.” Choose a minimal price point to show you aren’t sucking up to the boss, or trying to get special treatment from a supervisor or a colleague. What about colleagues? “Many offices have a Secret Santa or White Elephant exchange. Always stay within the price range,” Gottsman advises. But what if you want to gift your office bestie or “work wife” something special? “Anything else should be given out of the office, if you are only going to gift a few people and not others,” she says. “It avoids hurt feelings.” What are some expert-approved gifts? Gottsman recommends a thermal tote bag, a multi-prong cell phone charger, a beautiful bottle of olive oil, or a warm scarf. “One thing I have been gifting is games,” Dermer says. “Chess, checkers, Rummikub, or a Majong set. Games are fun and they bring you together.” Some of Dermer’s favorite gifts include: Flamingo Estate olive oil and vinegar set Leatherology tech organizer Aura digital frame Rummikub set Backgammon set Coffee table book Blunt umbrella
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E-Commerce
Its official: 2025 was the year of slop. Merriam-Webster just announced in a post that its human editors have chosen slop as the 2025 Word of the Year. The dictionarys official definition of the word is digital content of low quality that is produced usually in quantity by means of artificial intelligence, a far cry from its original meaning. When the term was first coined in the 1700s, slop meant soft mud, before slowly morphing into a synonym for rubbish. Today, it’s the perfect four-letter word for the state of the internet. In 2025, amid all the talk about AI threats, slop set a tone thats less fearful, more mocking, the dictionary’s post reads. The word sends a little message to AI: when it comes to replacing human creativity, sometimes you dont seem too superintelligent. How slop took over everything The concept of slop dominated the collective consciousness this year, from the content we consumed to the food we literally ate. Mere days into 2025, AI slopthe variety of click-harvesting, sensationalized, brain-melting content thats likely taken over your Facebook feedwas already raising alarms. In the wake of the fires that devastated the Pacific Palisades neighborhood of L.A. this January, AI clips of heartwarming rescues began circulating to capitalize on the tragedy. In March, a study from Cornell University revealed that an influx of AI slop was slowly beginning to suffocate the web. Since then, the problem has only escalated. Weve seen a concerning wave of fake Holocaust AI content; AI slop used in political messaging by former New York City mayoral candidate Andrew Cuomo and President Trump himself; and AI-generated tributes to conservative pundit Charlie Kirk in the wake of his assassination. AI slop has thoroughly weasled its way into the marketing and advertising spheres, so much so that companies like Pinterest have had to roll out new filters to allow users to dial back the AI content. Everywhere you look, its slop all the way down. The flood of slop in 2025 included absurd videos, off-kilter advertising images, cheesy propaganda, fake news that looks pretty real, junky AI-written books, ‘workslop’ reports that waste coworkers time and lots of talking cats, Merriam-Webster wrote in its report. It added, Like slime, sludge, and muck, slop has the wet sound of something you dont want to touch. One good slop-based item did emerge this year, though: the slop bowl, a new colloquial term for the preferred meal of office workers that involves a bowl full of a bunch of mixed ingredients. In 2025, we doomscrolled our slop and ate it, too.
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E-Commerce
There are boy aquariums all over the United States,” a TikTok creator explains in a recent post. The video then shows a clip of someone carrying a bucket filled with hockey pucks. Come feed the fish at the boy aquarium with me, the closed captions read. The person tosses the pucks onto the rink as players skate past. On TikTok, ice hockey arenas have been rebranded as boy aquariums.” Videos show women tapping against the battered Plexiglas, filming the players warming up and encouraging others to go on a girls night to the rink. The players themselves are in on the joke. Earlier this year, the official TikTok of the Canadian junior ice hockey team Moncton Wildcats posted: So were calling this the boy aquarium now? as the players skate around the enclosed rink. Another video, posted last week, shows the University of Cincinnati mens ice hockey team on a field trip to an actual aquarium. Fans are encouraging others to go and watch the sport. You look happier, the on-screen text reads on one clip, Thanks, I went to the boy aquarium with my besties. The National Hockey Leagues fan base overall is young, diverse, and online. Over half, 54%, are under the age of 44, according to Sport Radar, the second-youngest among the four major U.S. leagues. And the new legion of overwhelmingly female fans filling stadiums can be traced, in part, back to the popularity of BookToks favorite ice-hockey romance genre. The uninitiated may be surprised to learn there are thousands of novels in this niche subcategory, the most popular being Hannah Graces romance bestseller Icebreaker, which went viral in 2022 with the story of a competitive figure skater and hockey team captain forced to share a rink (cue romantic entanglement). Capitalizing on the hype, social-media teams regularly publish videos of players reading spicy chapters of Icebreaker or Pucking Around, another hockey romance bestseller by Emily Rath. “Heated Rivalry”, currently airing on HBO Max, has only added to the hockey fever, spawning thousands of reaction videos on TikTok and Instagram. With its steamy gay hockey romance storyline, based on Rachel Reid’s Game Changers novels, the Canadian import has topped the streaming charts following the release of episode 4. While tongue-in-cheek, the boy aquarium trend also risks playing into harmful stereotypes of female sports fans. The puck bunny insult has long been levelled at young female hockey fans, just as groupie has historically been used to belittle female music fans. Ice Hockey UK and The Elite League recently condemned a Financial Times article about British romance readers discovering ice hockey. The tone of the article is not just absurd and inaccurate in relation to ice hockey, but also to women who watch sport in general, Ice Hockey UK CEO Henry Staelens said in a statement. Something that shouldnt even be a talking point in todays society. Female sports fans have long fought to be taken seriously, and social media trends – while harmless on the surface – risk erasing their passion and knowledge of the sport, replaced instead by a backdrop for a fictional trope. Whether lifelong fans, or recent BookTok converts, ice hockey as an industry is heating up. The NHL league’s 32 clubs average valuation climbed 15% year-over-year to $2.2 billion, Forbes recently reported, more than double where they were just three years ago. While some may come for the fictional hockey players, they stay for the sport.
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E-Commerce
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