The housing market is tough! Many people want homes, but there aren’t enough to buy. This makes homes really expensive. Low interest rates make it easy to get a loan, but homeowners don’t want to give up their cheap loans, leaving fewer homes on the market. This makes it hard, especially for first-time buyers. If you’re thinking about buying a house, do it now before the competition gets worse.
Oil prices surged in early 2023, driven by high demand and supply cuts by OPEC. OPEC is unlikely to change these cuts anytime soon, keeping supply low. Additionally, consolidation in major oil-producing areas suggests more controlled production, further supporting prices. Investors are keeping an eye on the Energy Select Sector Fund (XLE), which tracks oil prices and has seen strong performance recently.
Cocoa prices have skyrocketed this year due to a combination of factors. Production in West Africa, which accounts for 70% of the world's cocoa supply, has been impacted by difficult weather conditions and disease. This shortage has driven up prices, with futures for May delivery reaching a record high of $10,030 per metric ton. The rise has even affected companies like Hershey, which forecast flat earnings growth for the year due to rising cocoa prices.
Car prices are declining from their peak but may never return to pre-pandemic levels due to factors such as increased technology and labor costs. However, prices are more favorable than last year, with incentives and rebates becoming more common. New and used cars under three years old offer the best deals, and the spring and summer months traditionally present the best time to buy.
