High-end home buyers are backing off as rising interest rates, inflation, a tepid stock market and economic uncertainty make it less feasible to purchase luxury goods. Redfin Reports Luxury-Home Purchases Plummet 28%, the Biggest Drop on Record. Sales of luxury U.S. homes fell 28.1% year over year during the three months ending Aug. 31, 2022, … Read more
Mastercard SpendingPulse: U.S. Retail Sales in June Reflect Rising Prices for Essentials, Continued Leisure Spending. According to Mastercard SpendingPulse, which measures in-store and online retail sales across all forms of payment, U.S. consumer retail spending excluding automotive increased +9.5% year-over-year (YOY) in June, while retail sales excluding auto and gas rose +6.1% YOY. Rising prices—particularly … Read more
Fine wines, oysters and fancy restaurants up by 5.9% in past year, says Queen’s bank