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Tag: Routine General News

  • Some good news: One key driver of inflation is finally showing signs of easing

    Some good news: One key driver of inflation is finally showing signs of easing

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    Rent growth is beginning to cool. But it’s descending from a heck of a peak.

    Rental prices climbed 7.2% between September 2021 to September of this year, the largest annual increase since 1982, according to consumer price data released Thursday. Overall, shelter costs were also among the most significant drivers in rising consumer prices, along with the cost of food and medical care, the Labor Department said.

    Still, it’s not all bad news for tenants. A new report from Realtor.com out Thursday found that nationwide, median rental prices in 50 large metros grew at their slowest annual pace in 16 months in September — at 7.8%. That marked the second consecutive month of single-digit year-over-year growth for 0-2 bedroom properties, and it meant that median asking rents fell by $12 in a month, Realtor.com said. 

    Housing inflation in the Consumer Price Index lags trends in the rental market, though, meaning the slowdown in rent growth might not register in the data for a while. 

    While median rental prices are still nearly 23% higher than they were two years ago, they’re no longer climbing at breakneck speeds with no end in sight. These days, economists say, that counts as a silver lining. 

    “After more than a year of double-digit yearly rent gains and nearly as many months of record-high rents, it’s especially important to see consistency before we confirm a major shift like the recent rental market cool-down,” Realtor.com Chief Economist Danielle Hale said in a statement. “But September data provides that evidence, as national rents continued to pull back from their latest all-time high registered just two months ago.”

    “This return of more seasonal norms indicates that rental markets are charting a path back toward a more typical balance between supply and demand, compared to the previous year,” Hale added. “We expect rent growth to keep slowing in the months ahead, partly driven by the impact of inflation on renters’ budgets.” 

    Affordability, however, is worsening, Realtor.com said. Blame the fact that consumer prices are rising faster than wages. 

    (Realtor.com is operated by News Corp
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    subsidiary Move Inc., and MarketWatch is a unit of Dow Jones, which is also a subsidiary of News Corp.)

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    report out Thursday, meanwhile, said rents grew 9% year-over-year in September — the slowest pace since August 2021. Rents were still way up year-over-year in cities like Oklahoma City (24.1%), Pittsburgh (20%), and Indianapolis (17.9%.) 

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  • Yankees star Aaron Judge slams home run No. 62, breaking Roger Maris’ 61-year-old A.L. record

    Yankees star Aaron Judge slams home run No. 62, breaking Roger Maris’ 61-year-old A.L. record

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    ARLINGTON, Texas — Aaron Judge hit his 62nd home run of the season Tuesday night, breaking Roger Maris’ American League record and setting what some fans consider baseball’s “clean” standard.

    The 30-year-old Yankees slugger drove a 1-1 slider from Texas right-hander Jesús Tinoco into the first row of seats in left field when leading off the second game of New York’s day-night doubleheader.

    After No. 99 took a smooth, mighty swing, he had a wide smile on his face as he rounded the bases and his Yankees teammates streamed out of the dugout to celebrate with him. They stayed away from home plate, letting Judge step on it before sharing hugs and high-fives.

    Judge’s mother and father were in the stands to see Judge end a five-game homerless streak, including Game 1 of the doubleheader when he was 1 for 5 with a single.

    The ball was caught by a fan in Section 31, who was then taken with security to have the ball authenticated.

    Another fan was escorted away after leaping out of the seats into a gap between the seats and the left-field wall.

    Maris’ 61 for the Yankees in 1961 had been exceeded six times previously, but all were tainted by the stench of steroids. Mark McGwire hit 70 for the St. Louis Cardinals in 1998 and 65 the following year. Barry Bonds hit an MLB-record 73 for the San Francisco Giants in 2001, and the Chicago Cubs’ Sammy Sosa had 66, 65 and 63 during a four-season span starting in 1998.

    McGwire admitted using banned steroids, while Bonds and Sosa denied knowingly using performing-enhancing drugs. Major League Baseball started testing with penalties for PEDs in 2004, and some fans — perhaps many — until now have considered Maris as holder of the legitimate record.

    Also see: Aaron Judge hits 62nd homer, but can he save Major League Baseball from itself?

    A Ruthian figure with a smile as outsized as his body, the 6-foot-7 Judge has rocked the major leagues with a series of deep drives that hearken to the sepia tone movie reels of his legendary pinstriped predecessors.

    “He should be revered for being the actual single-season home run champ,” Roger Maris Jr. said Wednesday night after his father’s mark was matched by Judge. “I think baseball needs to look at the records and I think baseball should do something.”

    Judge had homered only once in the past 13 games, and that was when he hit No. 61 last Wednesday in Toronto. The doubleheader nightcap in Texas was his 55th game in row played since Aug. 5.

    Previously: Dropping Aaron Judge’s 61st home-run ball might have cost this fan $250,000 or more

    Judge was 3 for 17 with five walks and a hit by pitch since moving past the 60 home runs Babe Ruth hit in 1927, which had stood as the major league record for 34 years. Maris hit his 61st off Boston’s Tracy Stallard at old Yankee Stadium on Oct. 1, 1961.

    Judge has a chance to become the first AL Triple Crown winner since Detroit’s Miguel Cabrera in 2012. He leads the AL with 131 RBIs and began the day trailing Minnesota’s Luis Arraez, who was hitting .315.

    The home run in his first at-bat put him back to .311, where he had started the day before dropping a point in the opener.

    Judge’s accomplishment will cause endless debate.

    “To me, the holder of the record for home runs in a season is Roger Maris,” author George Will said earlier this month. “There’s no hint of suspicion that we’re seeing better baseball than better chemistry in the case of Judge. He’s clean. He’s not doing something that forces other players to jeopardize their health.”

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  • Dropping Aaron Judge’s 61st home-run ball might have cost this fan $250,000 or more

    Dropping Aaron Judge’s 61st home-run ball might have cost this fan $250,000 or more

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    Talk about dropping the ball.

    New York Yankees star Aaron Judge hit his 61st home run of the season Wednesday night, tying the American League record — but leaving at least one person with good reason to frown, despite having just witnessed baseball history firsthand.

    A Toronto Blue Jays fan sitting in the left-field stands at Toronto’s Rogers Centre, where Judge blasted the home run that tied fellow Yankees slugger Roger Maris for the league single-season record, was almost ideally positioned — and even equipped — for this once-in-a-lifetime opportunity. Unfortunately, the ball glanced off his glove and landed in the Blue Jays bullpen below.

    And a potentially huge payoff slipped through his fingers.

    The fan was later revealed to be a 37-year-old Toronto restaurant owner, who reportedly gave his name as Frankie Lasagna to the Canadian Press. He said normally he “would never ever bring a glove other than this situation,” with his left-field seat a reasonably likely landing spot for a home run by the right-handed-hitting Judge and history on the line.

    In video footage, the fan appears visibly upset after missing the ball and his chance to be a bit player in baseball history. “The disbelief comes over you and just the shock and the amazement,” he said. “I was like, ‘Oh my God, I almost had it.’ “

    Don’t miss: Aaron Judge looks to break American League home-run record — and then get the Yankees to break the bank

    Opinion: Aaron Judge hits 61st homer, but can he save Major League Baseball from itself?

    David Kohler, CEO of California auction house SCP Auctions Inc., estimated the value of a ball hit for Judge’s home 61st home run could be between $200,000 and $250,000. And if this was Judge’s last home-run ball of the season, it could end up being valued at more than $1 million.

    See: Aaron Judge’s milestone home run balls could be worth millions

    “The Yankees are beloved,” Kohler said. “Aaron Judge is beloved. There’s no negativity here like the steroid era in the past.” (The only players to have hit more than 61 home runs in a season have been linked with performance-enhancing drugs and played for National League clubs.)

    The moment went viral on Twitter after the game.

    The historic ball landed in the Blue Jays bullpen and eventually made its way to Judge. The Yankees star didn’t keep it for long, however, as a video of Judge gifting the ball to his mother was posted on Twitter
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    after the game.

    “It’s a moment that I’ll never forget. I’ll cherish it,” the Yankees right fielder said. “Having my mom here supporting me — she’s been here through it all. That’s for sure. The Little League days. Getting me ready for school. Taking me to my first couple of practices and games. Being there for my first professional game and being there when I debuted and now getting chance to be here. This is something special. We’re not done yet.”

    Judge tied the AL record held since 1961 by Maris, who also manned right field in the Bronx. Maris made $32,000 during that 1961 season with the Yankees, which would be worth around 10 times that today, according to Saving.org. Judge is considered undercompensated with his 2022 season salary of $19 million, according to contract data from Spotrac.

    What would the Toronto restaurateur have done with the ball? Some fans give record-breaking memorabilia to the athletes accomplishing the noteworthy feats, often in exchange for autographs and future game tickets.

    “I would have held on to it for as long as I could [to] negotiate,” the Torontonian said. “Maybe get Judge to try to come to the restaurant.”

    MarketWatch sports news:

    The Mets, owned by hedge-fund manager Steve Cohen, now have the highest payroll in baseball: $273.9 million

    How Roger Federer became one of the few athletes to earn $1 billion: ‘He’s a sports marketer’s dream’

    Brett Favre also sought welfare money for football facility, texts reveal

    Minor-league baseball players unionize, just 17 days after organizing began

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  • Yankees slugger Aaron Judge hits 61st home run, tying Roger Maris’ AL record

    Yankees slugger Aaron Judge hits 61st home run, tying Roger Maris’ AL record

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    TORONTO — Aaron Judge tied Roger Maris’ American League record of 61 home runs in a season, going deep for the New York Yankees against the Toronto Blue Jays on Wednesday night.

    The 30-year-old slugger drove a 94.5 mph belt-high sinker with a full-count from left-hander Tim Mayza over the left-field fence in the seventh inning at Rogers Centre, a 117 mph drive that landed 394 feet from the plate. The tiebreaking, two-run drive, which put the Yankees ahead 5-3, clanked off the front of the stands and dropped into Toronto’s bullpen.

    Judge’s mother and Roger Maris Jr. rose and huegged from front-row seats. He appeared to point toward them after rounding second base, them was congratulated by the entire Yankees team who gave him hugs after he crossed the plate

    Judge moved past the 60 home runs Babe Ruth hit in 1927, which had stood as the major league mark until Maris broke it in 1961. All three stars reached those huge numbers playing for the Yankees.

    Barry Bonds holds the big league record of 73 for the San Francisco Giants in 2001.

    Judge had gone seven games without a home run — his longest drought this season was nine in mid-August. This was the Yankees’ 155th game of the season, leaving them seven more in the regular season.

    The home run came in the fourth plate appearance of the night for Judge, ending a streak of 34 plate appearances without a home run.

    Judge is hitting .314 with 130 RBIs, also the top totals in the AL. He has a chance to become the first AL Triple Crown winner since Detroit’s Miguel Cabrera in 2012.

    Maris hit No. 61 for the Yankees on Oct. 1, 1961, against Boston Red Sox pitcher Tracy Stallard.

    Maris’ mark has been exceeded six times, but all have been tainted by the stench of steroids. Mark McGwire hit 70 home runs for the St. Louis Cardinals in 1998 and 65 the following year, and Bonds topped him. Sammy Sosa had 66, 65 and 63 during a four-season span starting in 1998.

    McGwire admitted using banned steroids, while Bonds and Sosa denied knowingly using performing-enhancing drugs. Major League Baseball started testing with penalties for PEDs in 2004, and some fans — perhaps many — until now have considered Maris the holder of the “clean” record.

    Among the tallest batters in major league history, the 6-foot-7 Judge burst on the scene on Aug. 13, 2016, homering off the railing above Yankee Stadium’s center-field sports bar and into the netting above Monument Park. He followed Tyler Austin to the plate and they become the first teammates to homer in their first major league at-bats in the same game.

    Judge hit 52 homers with 114 RBIs the following year and was a unanimous winner of the AL Rookie of the Year award. Injuries limited him during the following three seasons, and he rebounded to hit 39 homers with 98 RBIs in 2021.

    As he approached his last season before free agent eligibility, Judge on opening day turned down the Yankees’ offer of an eight-year contract worth from $230.5 million to $234.5 million. The proposal included an average of $30.5 million annually from 2023-29, with his salary this year to be either the $17 million offered by the team in arbitration or the $21 million requested by the player.

    An agreement was reached in June on a $19 million, one-year deal, and Judge heads into this offseason likely to get a contract from the Yankees or another team for $300 million or more, perhaps topping $400 million.

    Judge hit six homers in April, 12 in May and 11 in June. He earned his fourth All-Star selection and entered the break with 33 homers. He had 13 homers in July and dropped to nine in August, when injuries left him less protected in the batting order and pitchers walked him 25 times.

    He became just the fifth player to hold a share of the AL season record. Nap Lajoie hit 14 in the AL’s first season as a major league in 1901, and Philadelphia Athletics teammate Socks Seabold had 16 the next year, a mark that stood until Babe Ruth hit 29 in 1919. Ruth set the record four times in all, with 54 in 1920, 59 in 1921 and 60 in 1927, a mark that stood until Maris’ 61 in 1961.

    Maris was at 35 in July 1961 during the first season each team’s schedule increased from 154 games to 162, and baseball Commissioner Ford Frick ruled if anyone topped Ruth in more than 154 games “there would have to be some distinctive mark in the record books to show that Babe Ruth’s record was set under a 154-game schedule.”

    That “distinctive mark” became known as an “asterisk” and it remained until Sept. 4, 1991, when a committee on statistical accuracy chaired by Commissioner Fay Vincent voted unanimously to recognize Maris as the record holder.

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