The piece also predicts a difficult summer for home sellers as buyers gain more options and mortgage rates rise. It ends with a quote from a junior banker at Bank of America seeking acknowledgment for work-related stress following the death of a colleague. The article also mentions other top reads, including changes in spending habits among young adults, the rise of "seriously underwater" mortgages, and the effectiveness of Norwegians at work.
Key takeaways:
- Apple's new ad titled "Crush" faced backlash and was pulled from TV. The ad was meant to show how the new iPad can be a creative tool but was criticized for portraying a powerful machine crushing tools of human creativity.
- Chess's popularity has increased, but it has also exposed its dark side, including cheating and sexism.
- Blackstone's $114 billion real-estate fund, BREIT, is causing concern among veteran analysts, accountants, and investors who believe the estimates of the fund's assets are inflated.
- Home sellers may face a difficult summer as home prices continue to rise but buyers are starting to have more options, and mortgage rates have spiked to 7%.