DID YOU KNOW? More than 80% of borrowers who refinanced in the 3rd quarter chose the “cash out” option, withdrawing $14.6 billion in equity out of their homes, according to Freddie Mac, the highest share of cash-out refis since 2007. (WSJ)
DID YOU KNOW? Hong Kong - the world's least affordable city - has seen real estate prices triple in the past 10 years. A housing-price index compiled by property agent Centaline has dropped 5% from its August peak. Prices in some housing estates have fallen more than 10% in just the past month. Housing prices in Sydney have dropped 7% from a year ago. (WSJ)
DID YOU KNOW? Corporate scandals can be costly to investors in the immediate term, but employees who blow the whistle on wrongdoing help their companies become more profitable in the long run, according to a new study by Kyle Welch of George Washington University and Stephen Stubben of the University of Utah. Companies that provide employees with channels through which they can disclose unethical activity earn a greater return on assets than firms with underdeveloped whistleblowing platforms. (CNBC)
DID YOU KNOW? About $1.1 trillion in retail Holiday sales nationwide are forecast by Deloitte, accounting for about 25% of annual retail sales. Overall shopping nationwide continues to surge this year. With $128 billion in retail sales, transactions are up 17 - 22% over last year.
DID YOU KNOW? The deadliest wildfire in California's history is now fully contained: 85 people died, 267 are still missing, almost 14,000 homes, more than 500 businesses, and about 4,300 other buildings were destroyed. It burned about 153,000 acres. (WSJ)