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Added on the 03/08/2016 12:35:47 - Copyright : Reuters EN
The price of US housing in the third quarter of 2020 saw the biggest year-over-year jump since 2013. Markets Insider reports the median price for a single-family home rose 12%, mainly fueled by record-low mortgage interest rates. But there's a downside: Not every American is benefitting from the rally. In fact, Q3 saw the proportion of first-time homebuyers drop to just 31%. That's the lowest share in over 30 years. As home prices significantly outpace median family income growth, more Americans have been pushed out of the housing market and have had to delay homeownership.
There's no sign of any let up in the turmoil hitting commodities markets. As Ciara Lee reports global miner Rio Tinto has seen its first half earnings pummelled by low iron ore prices.
Rio's Christ the Redeemer statue lights up in memory of Pele, one year after the Brazilian football legend died aged 82. IMAGES
Sharon Avigdori hugs her son and relatives after the Israeli mother and her 12-year-old daughter Noam were released on Saturday from Hamas captivity in Gaza upon their arrival at Israel's Sheba Hospital. IMAGES
Protesters gather in support outside the house of Argentine Vice President Cristina Kirchner in Buenos Aires as a public prosecutor seeks a 12-year prison sentence and lifetime disqualification from public office for alleged corruption during her two terms as president. IMAGES
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