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Economy

Luxury homes fall 28% as rest of market plummets 19.5%

Luxury home sales have plummeted by 28 percent in the US, with regular market sales also sinking by 19.5 percent as federal interest rates soar and inflation runs rampant. Luxury home sales have seen their biggest decline year-over-year in August since the pandemic brought the housing market to a standstill in 2020, dropping sales by 23.2…
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Morning Bid: Eye of the storm

Register now for FREE unlimited access to Reuters.comRegisterA look at the day ahead in U.S. and global markets from Mike Dolan.As Hurricane Ian raged and set its sights on Cuba and Florida, a global financial storm in bond and currency markets calmed moderately - though likely only temporarily.Ian strengthened into a Category 3 hurricane on…
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