Real Estate

Stock, Real Estate Crash Would Spark US Deflation: Economist

  • The US economy could soon be at risk of deflation, according to Wermuth Asset Management.
  • Wobbling commercial property values a correction of lofty stock valuations would drag prices lower. 
  • Inflation accelerated 3.3% on an annual basis in July, well-below the pace of inflation recorded last year.

Disinflation could soo turn to deflation in the US, partly due to the risk of crashing stocks and real estate prices, according to Wermuth Asset Management.

Already, commercial property values are under pressure, while a potentially overvalued stock market could face a swift correction if conditions sour. A plunge in the price of these assets would go a long way in sparking deflation, the firm argues. 

“To speculate about deflation again at this point looks premature at first glance,

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Miami Condos Built on Ancient Artifacts Older Than the Bible Spark Outrage

Native American activists in Miami are calling for an archaeological dig on a site due to be developed into a series of residential towers to be halted out of respect for the human remains that have been discovered there.

A number of artifacts dating back 7,000 years—around the time that what would later become the Old Testament Bible was being assembled, according to historical estimates—were found on a parcel of land in the city off Brickell Avenue, near the mouth of the Miami River.

However, members of the American Indian Movement of Florida have said they would rather the site be preserved rather than turned into condos.

Will Pestle, a professor of bioarchaeology at the University of Miami, told news outlet WPLG on Monday that the site was “older than the pyramids. It is older than the colosseum in Rome. This is a site that has great antiquity.”

Above, archaeologists
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