Largest US Banks Expect Billions in Loan Losses, Profits Plunge

Largest US Banks Expect Billions in Loan Losses, Profits PlungeSeveral of the largest U.S. banks have set aside billions of dollars in reserves as they expect massive losses from loan defaults, sending their profits nosediving. Wells Fargo’s first-quarter earnings fell a whopping 90% while JPMorgan Chase’s profit dropped 70%. Bank of America, Citigroup, Goldman Sachs, and Morgan Stanley also saw their profits plunge. Flood […]

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Looming US Real Estate Crisis – Freddie Mac Warns of Housing Market Uncertainty, Homebuilder sentiment Drops 58%

Looming US Real Estate Crisis - Freddie Mac Warns of Housing Market Uncertainty, Homebuilder sentiment Drops 58%U.S. real estate agents and lenders are bracing for the biggest housing crash in over a decade. Since the coronavirus spread and the American government shut down the nation’s economy, Freddie Mac’s quarterly real estate report is grim and says the U.S. housing market faces considerable challenges “amid economic uncertainty.” Further, the NHB Wells Fargo […]

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