Tuesday’s business headlines
INDIANAPOLIS (WISH) — Here’s a look at Tuesday’s business headlines with Jane King.
Home prices likely to fall as interest rates rise
Financial research company Capital Economics says U.S. house prices are likely to fall as mortgage rates exceeding 6% crimp affordability for the average buyer.
Property prices could contract an annual 5% by the middle of next year, according to their projections.
Sam’s Club offering annual memberships for $8
Sam’s Club is offering annual memberships for just $8, but only for a limited time in celebration of the upcoming Independence day holiday.
The deal is only available through June 26.
The offer was first introduced as a Super Bowl promotion earlier this year and was met with a huge response.
The $8 mark was established for that promotion based on the yard line the football was on at the two-minute warning of the fourth quarter of the big game.
Tech workers still in demand; large salaries disappearing
Tech talent is still in demand but outsized salaries may be disappearing.
Demand for tech talent remains strong, with U.S. employers posting 1.1 million tech job openings in the first quarter of this year.
Bureau of Labor Statistics tracks 3% drop in teachers from February 2020 to May 2022
About 300,000 public school teachers and other staff left the field between February 2020 and May 2022, a nearly 3% drop in that workforce, according to Bureau of Labor Statistics data.
A National Education Association poll conducted this year found 55% of teachers said they would leave education sooner than planned, up from 37% last August.
Educators say they are worn down by the COVID-19 pandemic, understaffed schools and political battles.
Petco launching store for farm animals
Horses, cows, goats, pigs and sheep have food and grooming needs, too, and Petco is stepping up to deliver its products and services to their owners.
Petco is launching a new, smaller store concept that’s specifically designed to meet the needs of both pets and farm animals in small towns and rural communities.