During his “My Take” Friday, “Varney & Co.” host Stuart Varney argued Democrats are making moves to replace an unelectable Biden-Harris ticket because the president’s cognitive decline seems to be accelerating, and they know the nomination has “loser written all over it.”

STUART VARNEY: I don’t think Joe Biden is electable. I don’t care what the polls say. 

If it’s a Biden-Harris ticket next year, they will lose. I don’t think it will get that far. 

BIDEN STAFFERS RUSH TO GIVE KAMALA HARRIS A POPULARITY FACELIFT AFTER 2024 ANNOUNCEMENT

Almost on a daily basis, Democrats maneuver to get him out before the end of the year. I’ve never seen anything like this.

Podcast king Joe Rogan thinks Democrats are leaking the bad news on Hunter because they see it as a way to get his dad out of the Oval Office. 

Sounds like a conspiracy theory to me, but Rogan has 12 million listeners every day.

BIDEN BUNGLES DEM TICKET, REFERS TO ‘HARRIS-BIDEN ADMINISTRATION’ IN CAMPAIGN SPEECH

Minnesota Democrat Dean Philips has launched a very public campaign asking the president to step aside. 

He says Democrats are unwilling to face the truth. That is, Biden can’t win. 

The Los Angeles Times floats the idea of getting Kamala Harris off the ticket, by moving her to the Senate seat now occupied by the ailing Dianne Feinstein. 

LA COLUMNIST SUGGESTS KAMALA HARRIS REPLACE DIANNE FEINSTEIN IN THE SENATE: ‘DRAG’ ON BIDEN’S RE-ELECTION

That’s a long shot, but it speaks volumes about the desperation the Democrats feel to change the ticket.

The president’s cognitive decline seems to be speeding up and we can all see it.

He takes long vacations, calls an early lid very frequently, and sometimes just doesn’t seem to be there. 

More than half believe his signature “Bidenomics” has made things worse. 

SMALL BUSINESS OWNER REVEALS TRUE COSTS OF ‘BIDENOMICS’: ‘WE’RE HURTING’

The Democrats are anxious because the Biden-Harris ticket has loser written all over it. 

There’s none so anxious as a political party heading for defeat.

Think of it this way. How many voters will go for a candidate already struggling mentally and physically?

Keep him in the White House until he’s 86, with a vice president who carries an even lower approval rating.

It’s not going to happen. The Biden-Harris ticket is not electable, and the Democrats know it. 

FOR MORE FOX BUSINESS CLICK HERE

Read More 

Goldman Sachs strategists no longer expect home prices to fall this year, and are instead forecasting an increase that could keep pressure on would-be buyers who are already grappling with steep mortgage rates.

In a note to clients this week, the Goldman analysts estimated that home prices will rise by 1.8% this year because of limited inventory and stronger-than-expected demand.

“Housing supply continues to tighten,” they wrote. “On the existing home front, the inventory of homes available for sale remains historically low. New listings are being added at the lowest pace on record, driving positive net absorption even amid paltry purchase application volume.” 

MORTGAGE CALCULATOR: SEE HOW MUCH HIGHER RATES COULD COST YOU

Even though mortgage rates are nearly double what they were three years ago, home prices have hardly budged. That is largely due to a lack of available homes for sale. Sellers who locked in a low mortgage rate before the pandemic began have been reluctant to sell, leaving few options for eager would-be buyers.

The number of available homes on the market at the end of July was down by more than 9% from the same time last year and down a stunning 46% from the typical amount before the COVID-19 pandemic began in early 2020, according to a recent report from Realtor.com.

Adding to the trouble is that builders have been slow to get new construction on the market. New listings are being added at the lowest pace on record, because many houses are still under construction, the Goldman note said.

COMMERCIAL REAL ESTATE MARKET COULD CRASH SOON. HERE’S WHY

The housing shortage has only served to boost consumer demand, which is keeping prices uncomfortably high despite the highest mortgage rates in two decades. 

The Federal Reserve’s aggressive interest-rate hike campaign sent mortgage rates soaring above 7% for the first time in nearly two decades last year. But even though rates have been slow to retreat, home prices are once again on the upswing as buyers adjust to the new rates.

Rates on the popular 30-year fixed mortgage surged to 7.09% this week, according to Freddie Mac, well above the 5.13% rate recorded one year ago and the pre-pandemic average of 3.9%.

GET FOX BUSINESS ON THE GO BY CLICKING HERE 

“Homebuyers have demonstrated behavior that, in our view, reflects unsustainable adaptations to elevated mortgage rates,” the Goldman strategists said. “For example, the average debt-to-income ratio on conforming purchase mortgages is over 38%, a significant aberration from post-Global Financial Crisis averages.” 

The strategists said they anticipate mortgage rates will fall by 100 basis points through the end of next year, “somewhat stabilizing affordability.” 

Read More 

Hawaiian Electric is defending itself over claims it did not do enough as wildfires in Maui raged in efforts to stem the stock’s free fall. 

The power provider has no plans to restructure but will begin seeking advice from experts on the matter, according to a company update released on Friday. 

HAWAIIAN ELECTRIC SHARES TUMBLE AS UTILITY FACES SCRUTINY AMID DEADLY MAUI WILDFIRES

Shares of Hawaiian Electric got a bump but are still hovering near a 37-year low with a 62.8% drop over the last five days. 

“Hawaiian Electric’s primary focus right now is on supporting emergency response efforts, helping our customers and employees and continuing to restore power as quickly as possible,” the company said in its update. 

MAUI ENTREPRENEUR WHO LOST EVERYTHING IN WILDFIRES: ‘WE GOT BLINDSIDED’

“As of Aug. 17, 2023, approximately 1,900 customers in West Maui remained without electricity. Power has been restored to more than 80% of customers who have been without electricity since last week,” the update continued. “Unlike in California, there is no precedent in Hawaii applying inverse condemnation to a private party like an investor-owned utility. It has only been applied to government entities.”

MAUI WILDFIRES PROMPT AIRBNB NONPROFIT TO OPEN HOMES TO DISPLACED LOCALS

Hawaiian Electric has now been hit with two lawsuits by residents of the state, who claim it is responsible for the wildfires that killed at least 96 people. The proposed class-action lawsuits were filed on Saturday in state courts and seek to represent thousands of Hawaii residents affected by the devastating fires that left thousands homeless and Lahaina in ruins.

Lahaina residents, in one of the lawsuits, claimed Hawaiian Electric is responsible for the fires after failing to shut off power lines despite warnings from the National Weather Service that high winds could blow those lines down and spark fast-spreading wildfires. The company defended those allegations. 

“Like many utilities, a power shutoff program is not part of Hawaiian Electric’s high-wind management protocols” it said. 

Hawaiian Electric also told investors it has now deployed over 400 employees and contractors to bring power back to communities in West Maui and Upcountry Maui and are working to replace poles and other equipment damaged by the fires and high winds.

GET FOX BUSINESS ON THE GO BY CLICKING HERE

Read More 

The Chinese developer has sought protection under Chapter 15 of the US bankruptcy code, which shields non-US companies that are undergoing restructurings from creditors that...