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12.06.26 - 14:00
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As China′s economy lumbers amid property crisis, why hasn′t AI helped pick up the slack? (SCMP)
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Unlike the US, artificial intelligence (AI) may not be a panacea for China's economy amid its deep property crisis, as the technology can further widen the country's economic bifurcation, an economist said.
“AI isn't boosting China's economy as much [as it is in the US], and we also have to worry about some of the negative side effects,” said Lu Ting, chief China economist at Nomura, at a media briefing in Beijing on Thursday.
Currently, AI drives about half of the US economy, Lu said, and its......
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12.06.26 - 00:39
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One Forgotten Housing Supply-Side Lever Could Unfreeze Affordability (ZeroHedge)
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One Forgotten Housing Supply-Side Lever Could Unfreeze Affordability
Rental affordability remains far superior to mortgage affordability, with the U.S. 30-year fixed mortgage rate trending around 6.5% in early June. With home prices still at record highs, last week's housing report showing sellers pulling listings at a near-record pace as buyers balk at prices is yet another warning sign that the frozen housing market remains well intact.
The Trump administration's affordable housing strategy focuses on market deregulation, expanded homeownership, stricter citizenship requirements for federal housing assistance, and Fannie Mae and Freddie Mac purchasing $200 billion of their own mortgage-backed securities to artificially lower mortgage rates and increase home affordability.
Even with all that, the housing market remains locked in a deep freeze into early summer, as the math for prospective homebuyers just does not add up, largely due to a housing shortage.
JPMorgan analysts recently said tha...
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