Inflation concerns that had been weighing on the market earlier in the year returned in September as a wide range of companies issued more warnings about the effect of rising prices on their finances. The result? The $1-million home is everywhere. How the pandemic helped scatter $1-million homes across L.A.ĬOVID-19 unleashed new demand for homes, made the well-off wealthier, and fueled extreme bidding wars. The Commerce Department upgraded its estimate of economic growth during the second quarter to 6.7%, which was slightly better than economists expected, but they expect growth to slow to 5.5% during the third quarter. The weak signals for economic growth continued Thursday as the Labor Department reported that unemployment applications rose for the third straight week and were higher than economists anticipated. In recent weeks, economic data have revealed that the highly contagious Delta variant has crimped consumer spending and the job market’s recovery. The broader market stumbled through September as investors tried to get a clearer picture of the economy’s path amid inflation concerns and uncertainty about how COVID-19 will continue to affect industries and consumers. More than 90% of the stocks in the index fell. It was as low as 1.32% just over a week ago.Īll the sectors in the S&P 500 ended in the red Thursday, with technology stocks, banks and a mix of companies that provide consumer goods and services accounting for much of the pullback. The yield on the 10-year Treasury note, a benchmark for many kinds of loans, fell to 1.50% Thursday from 1.54% late Wednesday. Peters advises anyone planning to have their property painted should go out and buy their paint now.Bond yields edged lower. If we can’t get the product, we’re not gonna be able to get ’em done,” he said. People expect us to be there and get the jobs done. “I’m just trying to get done the projects we’re already committed to. He says he is still concerned about how the issue could affect work for painters in the long term. “We’ve been told that some of them, certain lines of paint, are gonna be real hard to get,” he said. Peters said he has made it a point to be proactive, and has already bought paint for his next ten jobs. “I was told, by Sherwin-Williams, that when Texas froze last winter it busted a bunch of the machines that produce the resin and latex paints and caulks and stuff like that,” Peter said. The company has attributed the paint shortage to the freezing of a pipeline in Texas. Sherwin-Williams announced Tuesday that the price of paint will go up, starting in August, because of a shortage. Peters says in 17 years in the business, he’s never seen a supply shortage like this before.
So then, you’ve gotta run all over, looking for it, which costs time and money.” “Say you’re a gallon short and you need to run to the store real quick and get a gallon, and they don’t have it. (WTVO) - Rockford contractor Ben Peters, owner of Ben Peters Painting, says he has found it increasingly difficult to find paint at major retailers.
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