Tuesday morning news drop
The Dream Team days are long gone for USA Olympic basketball The era when American players could win gold at the Games just by showing up is over. The rest of the world has simply become too good (Guardian)
What Does the Delta Variant Mean for the U.S. Economy? Predictions of a second “Roaring Twenties” have proved premature. (New Yorker)
Anti-vaccine groups changing into ‘dance parties’ on Facebook to avoid detection The ban-evasion efforts on Facebook and Instagram are ratcheting up as the White House has increased pressure on the social media platforms to do more to contain vaccine misinformation. The secret language being used by anti-vaccine groups to skirt detection (NBC News)
The China Model: What the Country’s Tech Crackdown Is Really About After spending years emulating Silicon Valley, the world’s second-biggest economy is now officially charting its own course. (Businessweek)
U.S. inflation just topped 5 per cent. Is Canadian inflation next? Prices have steadily climbed since the start of the year and the Bank of Canada won't be changing its guidance just yet (National Post)
As Good As it Gets? The U.S. stock market is not only up 12 out of the past 13 years (assuming this year’s gain holds), but 10 out of those 13 years have been double-digit gains. And the worst down year was a loss of just 4%. (Wealth of Common Sense)
Real Estate Agents Target Record $100 Billion as Home Sales Boom Commission revenue — the cut that brokers collect for helping buy and sell homes — is on track to surge 16% in 2021, surpassing $100 billion for the first time. (Bloomberg)
New listings drought while out of town buyers stay high Buyer origin data is out for the second quarter, and we’ve seen a continued growth in the percentage of buyers from out of town. The proportion of all deals year to date rose to 26.4% from 22.9% in 2020. It’s not at record levels (that was 28.4% in 2016) but it’s substantially elevated from the roughly ~20% average between 2004 and 2012. Remember that out of town buyers are one of the categories of pure demand and any increase has a much bigger effect on the market than an increase in buyers that already own locally (i.e. market turnover). (House Hunt Victoria)
