• Oil markets haven't yet priced in the rising risk of recession, which could lead to major declines if one transpires, JPMorgan says

    1 month ago - By Business Insider

    Workers place pipe into the ground on an oil drilling rig set up in the Permian Basin oil field on March 12, 2022 in Midland, Texas. Joe Raedle/Getty Images
    The oil market has yet to price in a worldwide recession taking hold, JPMorgan said this week.
    But the risk of a recession is rising, it said in a week that saw a contraction in second-quarter US GDP.
    Oil prices tend to drop 30% to 40% in all recessions, the bank said.
    While oil prices have declined from their highs of the year, investors in that energy market have yet to price in the potential of an economic recession worldwide - but...
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  • There's a growing chorus of experts calling for substantial home price declines

    1 month ago - By Business Insider

    An American neighborhood. Getty Images
    Home prices are still increasing despite a cooling housing market.
    But price declines lie ahead, many experts argue.
    Insider recently spoke with three experts calling for median home prices to fall.
    The housing market is starting to cool off in a big way thanks to skyrocketing mortgage rates this year. Homebuilder sentiment is at its second-lowest level in 37 years thanks to tanking demand - existing home sales were down 14% in June, year-over-year. Still, home prices have yet to take a hit. The median price of homes sold in the US hit an all-time...
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