This week the buzz about Twitter and Musk and crazy housing market get their own headings, in addition to our usual collection of articles on economics and investing,

Twitter/Musk

• Elon Musk sold 4.4 million shares of Tesla for over $44 billion, probably to fund his proposed Twitter purchase. (APNews)
• Will Musk end up buying Twitter after all? Will the tanking of Tesla stock make him think twice? (Reuters)
• Why has no one purchased Twitter before now? This discussion in Slate brings up some good points, like how they haven’t been able to figure out a way to profitability, and would the world really be worse off without it?

Housing Market

• Housing prices were up 19.8% from the previous year in February, topping January’s rise. Lack of supply and increased mortgage interest rates may give buyers pause and quiet the frenzy. (CNN)
• Higher prices and interest rates seems to have impacted sales of new homes, which fell 8.6% in March. (LBMJournal)
• Affordability seems to be driving prospective buyers to new areas. (WSJ-subscription may be required.)
• Here is a new one: mortgages backed by cryptocurrency. Looks like they may have figured out a way to avoid the taxable gains with cashing in the coins. (Bloomberg)

Investing/Companies

• Bonds are usually purchased to diversify a portfolio as they usually counter stock market movements. What is going on now? (A Wealth of Common Sense)
• Air Force One is turning out to be one pricey plane, and Boeing is on the hook for the price overruns on this fixed-price contract. This was one of the reasons given for its first quarter loss. (CNBC) 
• Fidelity will allow its 401k clients to select crypto investments. (WSJ-subscription may be required)

Economics

• BIG NEWS: GDP contracted for the first quarter at a 1.4% annualized rate. The results were driven by inventories and the trade deficit, but consumer spending was still strong. (CNBC)
• This helps explain why the stock market, led by tech stocks, had its best day in seven weeks following the announcement on positive earnings announcements/expectations. (CNBC2)
• Mortgage rates are still increasing and consumer confidence drops a bit in April as inflation worries mount. We will see if this negatively impacts second quarter GDP. (Yahoo Finance and Al Jazeera)
• The global impacts of the war on the world’s supply of energy and food, and subsequently prices, will be far-reaching. (BBC)
  • Disruption in the palm oil market, as Indonesia restricts exports to make sure its own population has a sufficient supply will likely lead to spikes in your mayo and soap prices too. (Al Jazeera)
  • Similarly, China is limiting its exports of fertilizer. (Marketplace)

Financial Literacy

• Georgia now joins the High School PF requirement camp! (CNBC)

About the Author

Beth Tallman

Beth Tallman entered the working world armed with an MBA in finance and thoroughly enjoyed her first career working in manufacturing and telecommunications, including a stint overseas. She took advantage of an involuntary separation to try teaching high school math, something she had always dreamed of doing. When fate stepped in once again, Beth jumped on the opportunity to combine her passion for numbers, money, and education to develop curriculum and teach personal finance at Oberlin College. Beth now spends her time writing on personal finance and financial education, conducts student workshops, and develops finance curricula and educational content. She is also the Treasurer of Ohio Jump$tart Coalition for Personal Financial Literacy.