USA finance and payments live updates July 2022

Hello friends, welcome to yet another financial update. Today, we will discuss mortgage rates, Bitcoin prices, S.S. disability, unemployment benefit.

The first six months of 2022 have been the worst half year open in decades, with markets falling 20 percent since the year start.

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There are growing concerns regarding the housing market as the over prices could create the housing bubble anytime soon.

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According to the Federal Reserve, there is "no guarantee" that raising interest rates will not increase unemployment .

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Over the last couple of months, Bitcoin has lost more than half of its value, now trading at $20,320.49 today.

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Social Security benefits could be increased by $2,400 a year under a new proposal circulated on Capitol Hil.

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Are we headed for the third requisite of a housing bubble? Let's check out the details...

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Fortune defines a housing bubble as being characterized by three things.

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A surge in demand driven by speculation, overvaluation of home prices beyond what is supported by incomes, and the burst of the housing bubble.

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As the first two conditions have already been met in thousands of metros as they are seeing a huge price hike in housing market.

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In general, house prices rise between 3.5 and 3.8 percent annually.

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The average this year has shot up to 18 percent, with a median of seventeen percent.

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Inflation has been rising faster than wages, eroding any gains that workers have been able to make.

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