Retail sales were higher than expected in July.

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Call for More Home Building as Mortgage Rates Skyrocket
Mortgage rates reach sky-high levels amid the spring prime time for house buying. Lawrence Yun, the chief economist for the National Association of Realtors, joined Cheddar News to talk about what buyers should be looking for this season. “The only way to make affordability better is to assure that we have increased supply assure that the home builders are not facing any artificial barriers," he said. "We need to construct more homes, also construct more apartment buildings, because rents are rising very fast for the renters."
Meta May Still Avoid Big Impact Despite Judge's Go-Ahead for Ad Lawsuit
A federal judge has given the go-ahead for a class-action lawsuit against Facebook parent company Meta over allegations it exaggerated its advertising reach and overcharged advertisers. Jon Swartz, a senior reporter for MarketWatch, joined Cheddar News to give his take on the impact the legal action might have on the social media giant. "Remember Facebook is the ultimate Teflon company in tech. FTC investigates, it's constantly being accused of anything from the left to the right in terms of misinformation, yet it continues because it's the biggest brand of its kind and number one in terms of what it tries to do. It continues to benefit," he said. "So it's going to take something magnificent, not a class action suit, but something bigger and beyond that to knock them off the rails."
Protégé Looks to Provide Access for Aspiring Artists to Stars Like DJ Khaled
If you have a minute, Protégé thinks it might be enough to get your talent noticed by stars and industry movers like DJ Khaled. Jackson Jhin, co-founder and CEO of the platform, talked to Cheddar about how the services might better democratize access to performing arts like music and acting. "You have 60 seconds to send a video to the best experts in each industry and send it to people who otherwise would have been inaccessible," he noted. For a wide-ranging fee, applicants can submit their work to garner feedback from folks like Jason Alexander or Scooter Braun — with a money-back guarantee, according to Jhin.
4.4 Million Americans Quit or Changed Jobs in February
Around 4.4 Million Americans have either quit their jobs or changed them this past February. The high turnover comes as the Bureau of Labor reported that there were more than 11.3 million job openings despite 6.7 million people getting hired.
Rising Office Vacancy Rates Have Big Impact on Broader Economy
The office real estate market might be in trouble, as vacancy rates in major cities remain across the country, even as COVID restrictions continue to fall away. Ryan Severino, the chief economist for real estate and investment management firm JLL, joined Cheddar's Opening Bell to discuss the latest office trends and why some may be concerning for the broader economy. "There are knock-on ramifications for a lot of the ancillary industries that support office workers," he said. "If you think about coffee shops, places that someone might go out to get lunch or a drink or dinner after work, those are obviously still feeling the brunt of people not being physically back in office spaces the way that they were before the pandemic."
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