The Real Estate Market Continues to Thrive Fueled by an Ongoing Demand for New Homes

The past year has seen a real estate boom despite several areas of the economy still struggling due to the pandemic. CBS News reports that home prices grew 15 percent by the end of 2020 compared to the year prior. According to, home prices have risen 14.3 percent since the onset of the pandemic, there are 50 percent fewer homes on the market, and new listings are 27 percent lower than expected for March 2021.

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Automakers Struggle With Global Chip Shortage

Just as the auto industry demonstrated signs of recovery from the shutdowns last spring due to the coronavirus pandemic, an untimely issue regarding a dearth of semiconductor chips has arisen. Because of the global shortage of these silicon chips, nearly every major automaker, including Ford Motor Co, Toyota, and Nissan, have halted some form of car production and furloughed workers. Specifically, Ford and the General Motors Company predict lost earnings due to this unforeseen problem, potentially losing $2.5 billion and $2 billion, respectively.

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