SPACs stands for Special Purpose Acquisition Companies. A SPAC is a company without commercial operations and is formed strictly to raise capital through an initial public offering (IPO) for the purpose of acquiring or merging with an existing company. The SPACs concept includes US companies that went listed in the form of SPACs.
USA existing home sales unexpectedly reached the largest year-on-year increase in three years, with home prices accelerating to new highs, and investors are adopting a wait-and-see attitude.
In November, existing home sales in the USA exceeded expectations, surpassing the annualized rate of 4 million units for the first time in six months, indicating that homebuyers are accepting mortgage loan rates above 6%. The Mortgage Bankers Association expects that mortgage loan rates will remain above 6% for at least the next two years. The median sales price for existing homes rose by 4.7% year-on-year in November, reaching $406,100, setting a record high for November.
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