The U.S. housing market is heading toward the ‘most significant contraction’ since 2006. Here’s what that means
The early stages of a slowdown in the U.S. housing market don’t mean prices are about to spiral. That is according to Len Kiefer, deputy chief economist at Freddie Mac.
Kiefer said it would be unwise to look to the Great Recession more than a decade ago as a predictor of what could happen now.
“I don’t think that home sales are going to grind to a complete halt,” Kiefer told MarketWatch. “They’ll just slow. People will still be able to sell homes, but it may take you just a little bit longer than what it’s been.”
Salt Lake City held its gun buyback program Saturday. More guns were purchased in 2020 and 2021 than in recent years, and the program's goal was to raise awareness of safety hazards when guns aren't stored and cared for properly, said Mike Brown, Salt Lake City's police chief. Read more.
More in Politics
Why are so many new water wells to be drilled in Bears Ears? (Salt Lake Tribune 🔒)
Utah fire officials: Use FireSense to avoid wildfires (KSL)
PHOTOS: Hundreds march for gun policy change in downtown Salt Lake City (KUTV)
This is the race: Join us on July 23
First run in 1970, the Deseret News Marathon is the oldest road race in Utah and the 4th oldest marathon west of the continental divide. The marathon follows the path the Utah pioneers traveled when they first entered the valley. This event is truly a part of Utah’s heritage! Register today!
Faith
More than 1,000 pallets of food is latest effort to deliver supplies to those in Ukraine (Church News)
Music & the Spoken Word: The greatest commandments (Church News)
Southern Utah
Climbing is like eating an elephant one bite at a time for 8-year-old Sam Adventure Baker (St. George News)
Paiute Tribe’s 42nd annual Restoration Gathering Powwow kicks off in Cedar City (St. George News)
Northern Utah
Rockstar Energy founder just bought the most expensive house in Utah (KSL)
Finders keepers: Utah family finds $20K treasure. Here's where it was (KSL)
Police: Man shot, killed after threatening officer with knife outside of Springville Walmart (KSL)
Wasatch Front
Not so sweet: Lehi shop criticized over chocolate treat name (Fox 13)
'It's bitter ... but sweet': Beloved SLC business to relocate after 42 years near Trolley Square (KSL)
Cowabunga Bay Water Park temporarily closed after overnight fire (KSL)
The Nation
Several factors are converging to push gas prices higher (Associated Press)
Some clues about the Jazz front office hierarchy (Deseret News)
Are Zach Wilson and the New York Jets headed for another high draft pick in 2023? (Deseret News)
The Utah Jazz-centric history Stephen Curry made in Game 4 of the NBA Finals (Deseret News)
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