CPI Eases Inflation, Alexander Brothers’ Disturbing Tapes Surface, California Cracks Down on Predatory Investors Exploiting Fire Victims

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CPI Eases Inflation

The latest Consumer Price Index (CPI) report shows that core inflation slowed to 3.2% in December, down slightly from November’s 3.3% rate and better than expected. This marks a significant shift from last year, where inflation hovered higher. On a monthly basis, CPI increased 0.4%, but the year-over-year inflation rate stands at 2.9%, in line with forecasts.

One key takeaway: Shelter prices, which account for a third of the CPI, rose just 0.3% last month, the smallest annual increase in nearly two years, now at 4.6%. This is particularly significant for the real estate market as it signals that the pace of housing cost increases may be slowing. However, Nationwide, we are still in a seller controlled market.

The stock market responded positively, with futures surging and Treasury yields dropping, a sign that investors are optimistic about a potential pause in Federal Reserve rate hikes.

This news offers a glimmer of stability as the Fed shoots for a 2% inflation rate to encourage a less restrictive market.

Source: Link

Alexander Brothers’ Disturbing Tapes Surface

Federal prosecutors have made chilling new revelations in the case against three Miami Beach brothers, Alon, Oren, and Tal Alexander, who face charges of sex trafficking and rape. According to a court filing, over 40 women have come forward with allegations of sexual assault, claiming the brothers drugged and raped them. Prosecutors say FBI agents discovered disturbing videos at one brother’s Manhattan apartment, showing women who were intoxicated and unaware they were being filmed. In some instances, the women appear visibly distressed as they try to flee.

The Alexander brothers, once celebrated in the real estate world, are accused of luring women to upscale locations, then exploiting them while they were incapacitated. The defense counters that the videos show consensual encounters, calling the charges unsubstantiated. With the brothers facing potential life sentences, prosecutors are pushing for their detention before trial, arguing they are flight risks due to their wealth. A Manhattan court hearing is scheduled for today.

This case has drawn significant attention due to its scope and the high-profile nature of the defendants, highlighting the ongoing issue of sex trafficking and exploitation in affluent circles.”

Source: Link

California Cracks Down on Predatory Investors Exploiting Fire Victims

And finally, yesterday, California Governor Gavin Newsom issued an executive order aimed at protecting fire victims in Los Angeles County from predatory real estate speculators. In the wake of recent firestorms, including the destructive Eaton Fire in Altadena, residents have reported receiving aggressive and unsolicited cash offers for their homes at undervalued prices.

Governor Gavin believes these opportunistic investors, taking advantage of the trauma caused by the disaster, are threatening the financial security and stability of vulnerable families. Under the new executive order, such offers will be deemed unlawful for the next three months in specified hard-hit zip codes, including areas in Altadena. The order empowers state agencies, including the Department of Real Estate and the Attorney General’s Office, to enforce this protection and hold violators accountable.

Governor Newsom expressed strong disapproval of these exploitative practices, emphasizing that “the last thing families need is greedy speculators taking advantage of their pain.” The move mirrors a similar effort in Hawaii to safeguard residents following last year’s devastating wildfires in Lahaina.

Source: Link

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