This Week’s Takeaways:
- Consumer spending may be cut back as consumer confidence has plummeted in the last year due to concerns over the labor market and prices.
- Nationally home price increases have stalled out, and in 35% of the nation’s largest housing markets, prices are declining. Inventory continues to bolster markets in the Northeast and Midwest.
- A tariff study shows that fears over inflation with this year’s tariffs is a mistake as the past has shown that tariffs reduce prices and hurt employment.
- Mutual funds are about to distribute taxable capital gains to their shareholders based on portfolio activity this year, even if you didn’t sell any shares. Research on the fund’s website how large those distributions will be and plan ahead.
- Boston Corner analyzing the New England economy and why Keno is so popular here, plus Things to Do This Weekend
- Plus my latest book recommendation.
Job Market Worries Evident as Confidence Tests a Four-Year Low by Wells Fargo
Consumer confidence has dropped substantially in the past year due to concerns over the shutdown, labor market weakness, and inflation. Consumers may cut back their spending as a result.
The 105 major housing markets with year-over-year home price declines—and the 195 still posting annual gains by ResiClub
Home affordability is a major concern. Nationally prices stayed flat year over year (up .1%), and in 35% of the nation’s 300 largest housing markets prices declined over that time. Prices are still climbing where inventory is tight (Northeast and Midwest).
What Is a Tariff Shock? Insights from 150 years of Tariff Policy by the Federal Reserve Bank of San Francisco
Research into tariff increases primarily in the U.S., but also factoring in two other large economies, shows that contrary to expectations higher tariffs lead to lower prices in the short run and lower economic activity and higher unemployment.
How to Manage Capital Gains Distributions in 2025 by Morningstar
Many mutual funds will distribute realized capital gains at year-end which could trigger a tax surprise even if you didn’t sell any shares. Check your fund’s website for distribution estimates and be mindful of the fund’s record date so that you aren’t buying more of it before then and potentially planning for reducing the tax impact of that distribution by tax-loss selling somewhere else or exiting the position if it’s sensible to do so.
Holiday Scams, Cybercrimes & Protection by Heritage Financial
Our team shares four common holiday scams and how to avoid them this season.
Book Recommendation
The Cardinal: A Novel of Love and Power by Alison Weir
In this “immersive tale of Tudor intrigue” (Publishers Weekly), the New York Times bestselling author of The Last White Rose explores the rise of Thomas Wolsey, who was Henry VIII’s chief adviser—until the king accused him of treason.
Boston Corner
New England Economic Conditions through November 18, 2025 by the Federal Reserve Bank of Boston
Our region saw a labor market softening more than the nation overall, inflation being a bit higher (particularly driven by shelter, medical care, and food), and home prices growing much faster than national averages.
How did Keno become so popular in Massachusetts? by Boston.com
