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The October report found that around 13% of Americans reported economic hardship over the prior year due to climate change. Climate change could cost Americans born in 2024 nearly $500,000, due to higher taxes and pricier housing and food, among many other factors, ICF, a consulting firm, recently found in a report commissioned by Consumer Reports. Stan Honda | AFP | Getty ImagesOther health effects of climate change reflect more widespread shifts in global conditions. "There are clear interactions between heat waves and health conditions," said Charles Driscoll, a professor at Syracuse University who studies climate change. Climate change leads to droughts, which lead to crop failures, which cause food price spikes.
Persons: Chandan Khanna, Andrew Rumbach, Eva Marie Uzcategui, Wagner, Rumbach, Stan Honda, Charles Driscoll, Driscoll, Ringo H.W, Chiu, Mark Kantrowitz, Gernot Wagner Organizations: AFP, Getty, U.S . Department of, Treasury, Consumer Reports, Urban Institute, Bloomberg, U.S . Census, Insurance, Swiss Re Institute, Health, Natural Resources Defense, Syracuse University, International Labour Organization, Kaiser Family Foundation, of Labor Statistics, Columbia Business Locations: Fort Lauderdale , Florida, U.S, Fort Myers Beach , Florida, Florida , Louisiana, California, Hurricane, Queens, New York, Malibu, Malibu , Calif
While the spring housing market has been plagued with low supply, high prices and spiking interest rates, would-be homebuyers are focusing on new construction. New homes have more incentives and availability than previously owned ones. "There's more opportunity in new construction," said Nicole Bachaud, a senior economist at Zillow Group. Meanwhile, sales for previously owned homes dropped by 3.7% from March 2023, the National Association of Realtors found. With 30-year fixed-rate mortgage rates sitting above 7%, homeowners who bought at much lower rates in recent years don't like the prospect of trading in their low rate for a higher one.
Persons: Nicole Bachaud, Biden, Bachaud Organizations: Zillow, . Census, U.S . Department of Housing, Urban Development, National Association of Realtors, Finance, Buyers Locations: U.S
The artificial intelligence revolution is just getting started, and that means there are opportunities for investors to scoop up some names at a discount, according to Evercore ISI. Yet adoption is low, with less than 5% of U.S. firms reporting using AI, he said, citing U.S. Census Bureau data. To find "AI revolutionaries" that are trading at a discount, Evercore ISI looked for companies in the Russell 1000 with strongly trending AI mentions — either surpassing the index or the company's sector average. One of the names on the list is Uber Technologies , which mentioned AI 17 times last year. The company is also using AI to increase productivity.
Persons: OpenAI's ChatGPT, Julian Emanuel, Emanuel, Russell, , Uber's, Dara Khosrowshahi, they're, CNBC's, Goldman Sachs, David Solomon, Solomon, Goldman's, Penny, Glenn Fogel, Fogel Organizations: ISI, Census, Nvidia, Nasdaq, Uber Technologies, Holdings Locations: U.S
By 2054, there will be an estimated 422,000 Americans age 100 and older — more than four times the 101,000 in 2024, according to a Pew Research Center analysis of U.S. Census Bureau data. What's more, the centenarian population has nearly tripled in the last three decades alone, according to Pew. Among the best ways to hedge against outliving one's savings is by working longer, according to retirement experts. That may be more necessary as employers have offloaded responsibility for retirement savings onto workers' shoulders, by shifting from pensions to 401(k)-type retirement plans. "People need to be prepared to work longer," he said.
Persons: Artur Debat, Pew . Irving Piken, Piken, Mark Rightmire, John Scott, Barry Glassman, Glassman, Pew's Scott, Scott Organizations: Pew Research, Census, Pew ., Woods Community, MediaNews, Orange, Getty, Finance, Wealth Services, Reference, Workers, Social Security, Security Locations: U.S, California
Buyers of newly built homes can come across a number of sticker shocks. In February, the median sale price for new construction sold in the U.S. was $400,500, according to the U.S. Census Bureau and the Department of Housing and Urban Development. Depending on what you're picking, they're adding up the tab," Fuentes said. To save on costs with a new build, it may be in a potential buyer's best interest to hire a contractor later on to add desired finishes, experts say. "Think about those elements that could be easily added at a later date," said Angie Hicks, home expert and co-founder of Angi, an online marketplace that connects homeowners with professional contractors for home maintenance or renovations.
Persons: Veronica Fuentes, Fuentes, Angie Hicks Organizations: . Census, Department of Housing, Urban, Finance Locations: U.S, Washington ,
Most people don't earn six figures, but it's become the new benchmark for whether or not you can afford a typical U.S. home. Americans need to earn an annual income of $110,871 to buy a median-priced home of $402,343 — a 46% increase since January 2020, according to a new Bankrate analysis of Redfin sales data. For context, households currently earn a median income of $74,580, according to the most recent U.S. Census Bureau data available. As a result, the number of places where you need to earn $100,000 or more to afford a median-priced home has climbed from seven to 23 since January 2020. In Montana, the income needed to buy a median-priced home increased 77% since 2020 — the largest jump of all states.
Persons: it's, Bankrate, homeownership Organizations: Census, of Columbia, Washington, Rhode, Center, of Labor Statistics, CNBC Locations: U.S, California, Hawaii, Massachusetts, Colorado, Jersey, York, Utah, Montana, Hampshire, Oregon, Connecticut, Florida, Vermont, Idaho, Nevada, Arizona, Maryland, Virginia, Maine, Texas, Hawaii , Massachusetts, New York, Utah , Montana and Idaho, Midwest, Mississippi , Ohio , Arkansas , Indiana , Kentucky, Iowa, Oklahoma
If you've got nothing saved for retirement, you're not alone. Nearly 30% of Americans have $0 saved for retirement, per recent data from personal finance website GOBankingRates. The average monthly benefit is around $1,773 as of February, per the Social Security Administration. It ranked each city on a variety of metrics, including the city's average home value, annual grocery costs, annual utilities costs and whether the state taxes Social Security benefits. Here are the top five places in the U.S. to retire if you have little to no savings, according to GOBankingRates.
Persons: you've, Anne Lester, Roth, GOBankingRates Organizations: CNBC, Roth IRA, Social Security, Social Security Administration, Social, U.S, Survey, Tax Foundation, Bureau of Labor Statistics, Expenditure Locations: U.S
If you're looking for the best place in the U.S. to raise your family, consider moving to Illinois or Pennsylvania. Both states contain several towns that ranked highly on a recent report from Niche assessing the nation's top family-friendly locales. The two states combined were home to seven of the top 10 places to raise a family in America. Other factors taken into account include:Crime ratesHousingEthnic, generational and economic diversityPercentage of households with childrenPercentage of residents age 17 and underChesterbrook, Penn. took the top spot on Niche's list, thanks in part to the Philadelphia suburb's highly-rated public school system.
Organizations: Census, Department of Education, FBI, Philadelphia Locations: U.S, Illinois, Pennsylvania, America, Penn
There's plenty of towns across the U.S. where Americans can retire affordably and live out their golden years without breaking the bank. Earlier this month, personal finance site GoBankingRates.com ranked the richest retirement towns in the country. Of the 10 richest retirement towns in the country, the wealthiest has a median household income of $166,747 while the No. 10 town's median income is $124,460. California towns dominated the list, with the Golden State being home to not only the richest retirement town in the country but also four of the top 10.
Persons: affordably Organizations: Survey, U.S . Census, Golden State Locations: California, Meanwhile Florida
CNN —The Office of Management and Budget on Thursday announced changes to how the federal government asks about people’s race and ethnicity, including in the US census. Under the previous standards, Hispanic or Latino ethnicity was measured in a question separate from the one on racial identity. “Thanks to the hard work of staff across dozens of federal agencies and input from thousands of members of the public, these updated standards will help create more useful, accurate, and up to date federal data on race and ethnicity. “The U.S. Census Bureau commends the scientific integrity and collaboration with our fellow federal statistical agencies and departments throughout this process. These efforts aim to improve federal race and ethnicity statistics and ensure data more accurately reflect the racial and ethnic diversity of the U.S. population,” the agency said.
Persons: ” Karin Orvis, “ We’ve, Maya Berry, Arturo Vargas, ” Vargas, Judy Chu, CAPAC, ” Chu, CNN’s Jennifer Agiesta Organizations: CNN, Management, Budget, OMB, Census Bureau, Arab American Institute, Black, AAI, National Association of Latino, Fund, Congressional Asian Pacific American Caucus, Pacific, Democratic Locations: Indian, Alaska, Eastern, America, , California
A family of four needs to make more than $275,000 to live comfortably in some of the most expensive U.S. cities, a recent SmartAsset analysis reveals. "Comfortable" is defined as the income needed to cover a 50/30/20 budget for a family of two adults and two kids. That's followed by other cities known for having notoriously expensive housing costs, including Boston, New York City, Honolulu and Los Angeles. Out of all 99 cities SmartAsset examined, a family of four would need a median of $226,886 to live comfortably. But that's still higher than the median family income in the U.S. of $92,750, according to the most recent U.S. Census bureau data available.
Persons: That's Organizations: MIT, Boston, New, Urban, Santa, Chula, Seattle, Legislative, Office, for Community & Economic Research, CNBC Locations: San Francisco, Jose , California, Arlington , Virginia, New York City, Oakland, California, Urban Honolulu, Hawaii, Irvine , California, Santa Ana , California, Portland , Oregon, Diego, Chula Vista , California, Newark , New Jersey, Jersey City , New Jersey, Aurora, Colorado, Long Beach , California, Anaheim , California, Angeles, Washington, Francisco, Boston , New York City, Honolulu, Los Angeles, In California, U.S, Houston
He said access to investing can help solve this conundrum, while also pondering if the expectation for everyone to receive Social Security benefits at age 65 has become archaic. Worsening the outlook is a Social Security system that's said it will not be able to pay full benefits by 2034. The 71-year-old believes the American retirement system has entered such a deep crisis that it has become a once-in-a-generation issue. That's because this both can benefit individuals and help ensure the long-term health of Social Security. Increasing lifespans create further difficulties when trying to improve the retirement system, Fink said.
Persons: Larry Fink, Fink, that's, it's, Organizations: BlackRock, Social, Census Bureau, Security, Social Security Locations: America, Ottoman Empire
Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. Finally, Viking Therapeutics soared more than 25% after reporting encouraging Phase 1 results of its oral weight loss pill. The data showed up to 5.3% weight loss at 28 days. Its Phase 2 results up to 14.7% mean weight loss at 36 weeks. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER .
Persons: Jim Cramer, Larry Fink, It's, Wedbush, Jim, Eli Lilly, Jim Cramer's Organizations: CNBC, BlackRock, Census Bureau, Social Security, Microsoft, Justice Department, Viking Therapeutics
Provisions of the TCJA — a landmark tax law proposed by the Trump administration and passed by Congress in 2017 — that are set to expire in 2025 include the child tax credit. An additional "other dependent credit" offers a tax credit of $500 to people with less than $400,000 in income who have qualified dependents who are ineligible for the child tax credit. Biden's budget will restore the expanded child tax credit, the White House has said. "Would you agree that if the TCJA child tax credit provisions are not extended, this would also result in a tax hike for Americans making under $400,000?" The budget would impose a minimum 25% tax rate on the unrealized income of the very wealthiest households and raise the IRA's corporate alternative minimum tax for billion-dollar companies from 15% to 21%, while increasing the larger corporate tax rate to 28%.
Persons: Janet Yellen, Joe Biden's, Biden, Sen, Steve Daines, Yellen, Daines, Trump, Mike Crapo, pare Organizations: Treasury, Capitol, WASHINGTON —, Congress, White, Child Tax, Rescue, National Conference of State Legislatures, . Census, House Republicans, Lawmakers, Department of Homeland Security Locations: Washington , U.S, Idaho
"When demand for other consumer products comes up, or when it increases, it's usually not too hard for people to scale up supply," Brannon said. Moreover, the current housing affordability makes 64.2% of owners and renters have negative feelings about the economy, Redfin found. In fact, affordable housing is a pressing topic for both liberal and conservative voters: the topic is ranked as No. 1 for liberals while it's No.3 for conservatives, according to a separate survey by The Real Estate Witch. To address the issue, President Biden announced in early March as part of his budget for fiscal 2025, a plan to cut housing costs, boost supply and expand access to affordable housing.
Persons: Brannon, Kirabo Jackson, Qualtrics, Redfin, it's, doesn't, Brennon, Biden Organizations: Westend61, U.S . Census, White House Council, Economic Advisers, CNBC Locations: U.S
It turns out, that includes how far a $100,000 salary will get you, according to a recent SmartAsset study. A six-figure income offers the most purchasing power in El Paso, Texas, the study found. In El Paso, a $100,000 salary amounts to around $88,840 after taking out those expenses. One factor potentially fueling the Lone Star State's dominance is its tax friendliness, since Texas does not collect state income taxes. However, residents still pay federal income taxes and face some of the highest property taxes in the country.
Persons: Zers —, Organizations: Council for Community, Economic Research, Census, Christi, Houston, Star Locations: Texas, U.S, El Paso , Texas, El Paso, Mexico, RentCafe, San Antonio, Lubbock
SAN FRANCISCO (AP) — Former CNN reporter Don Lemon mixed it up with Tesla CEO Elon Musk in an interview Lemon posted on Musk’s X social network Monday. The interview was supposed to kick off Lemon’s new talk show on X, formerly known as Twitter, at least until Musk canceled the show shortly after the interview was recorded. MUSK USES KETAMINE TO TREAT POSSIBLE SYMPTOMS OF DEPRESSIONMusk is “almost always” sober when posting on X late at night, he told Lemon. But in his interview with Lemon he did argue, on shaky evidence, that a surge of undocumented immigrants has skewed U.S. elections in favor of Democrats. Lemon pointed out that undocumented immigrants can't vote and thus can't really favor either political party.
Persons: , Don Lemon, Elon Musk, Lemon, Musk, ” Musk, , you've, , Donald Trump, “ Let's, Trump, hasn't, Biden, I've Organizations: FRANCISCO, CNN, Tesla, Twitter, TRUMP, Locations: Florida, U.S, Washington
All three majors made a median annual income of $38,000, the lowest out of the 75 majors in the study. Other low-paying majors include leisure and hospitality, history, fine arts and psychology, all of which made $40,000 or less per year. With liberal arts degrees, graduates tend to get paid less overall, for various reasons. Education majors tend to be paid less, as well. When looking at "mid-career" graduates — those ages 35 to 45 — education majors are the worst paid among all majors.
Organizations: York Federal, Census, Economic Locations: U.S
In the "Barbie" movie, the narrator says, "Barbie has a great day every day." As women's participation in the labor force has increased over the years, the group continues to face hurdles along the way. "We have the tightest labor market for women in the past 20-something years," Bustamante said. "As the labor market gets tighter and tighter and tighter, women's employment rises faster than men's," Pollak said. "To think of just the scale of construction employment and women are still such a marginal piece of that sector," he said.
Persons: Margot Robbie, Barbie, Julia Pollak, R, Bustamante, Pollak, " Pollak Organizations: Mattel, Warner Bros, U.S . Bureau of Labor Statistics, Roosevelt Institute, Census, National Women's Law, Warner Brothers Pictures Locations: New York, U.S
Based on today's wage gap, a woman just starting out will lose $399,600 over a 40-year career, according to the National Women's Law Center. The pay gap worsens significantly for Black and Latina women. For Black women, the lifetime wage gap adds up to $884,800, and for Latina women, the losses total $1,218,000, the nonprofit advocacy group found. Why the gender pay gap persistsThere is no single explanation for why progress toward narrowing the pay gap has mostly stalled, according to a separate report by the Pew Research Center. What it takes to achieve progressNo "one thing" is going to close the wage gap, Tucker said.
Persons: Jasmine Tucker, Tucker, Ofronama Biu, Biu Organizations: Census, National Women's Law, National Women's, Center's, Black, Latina, Pew Research Center, Urban Institute, Employers
What to Know About the March 12 Primaries
  + stars: | 2024-03-11 | by ( Elliott Davis Jr. | March | At P.M. | ) www.usnews.com   time to read: +9 min
Here’s everything you need to know about the one caucus and five primaries on deck. The state has the largest delegates prize among Tuesday’s contests, with 108 pledged Democratic delegates at stake and 59 for Republicans. 21 in the most recent U.S. News Best States rankings, which assesses the performance of states for their residents. On the Democratic side, there are 35 pledged Democratic delegates up for grabs. ET and there are six Democratic delegates at stake, according to the AP.
Persons: It’s, Joe Biden, Donald Trump, , Biden, Marianne Williamson, , ” Trump, Nikki Haley, Williamson, Dean Phillips, Minnesota, David Stuckenberg, GOP Caucus Trump, Haley, Trump, Ron DeSantis, Vivek Ramaswamy, Phillips, DeSantis, Ramaswamy, Chris Christie, Jason Palmer Organizations: GOP, Trump, Aloha State’s Democratic, U.S, United, Democratic, Republican, Associated Press, Republicans, Minnesota –, U.S . Census, Best, Georgia, News, GOP Caucus, GOP Caucus Trump –, AP, Hawaiian Republican Party, Republican National Convention, Aloha State, Florida Gov, Magnolia State, Washington, New, New Jersey Gov, Evergreen State, U.S . News, Northern, Democrats, Super Locations: Georgia, Hawaii , Mississippi, Washington, Northern Mariana, Hawaii, Stake, Trump , Florida, U.S, Mississippi, Florida, New Jersey, America, Northern Mariana Islands, United States, Marianas, Baltimore, American Samoa
About 50% of women ages 55 to 66 have no personal retirement savings, a higher share than men (47%), according to U.S. Census Bureau data. Those who do have retirement savings are less likely to have $100,000 or more (22% vs. 30%). "The picture is pretty bleak for women" who don't save enough for retirement, Cindy Hounsell, founder and president of the Women's Institute for a Secure Retirement, said Tuesday at CNBC's Women & Wealth event. watch nowThey may become burdens on their children if they have kids who can offer financial support, she said at the Women & Wealth event. Compounding the problem: Caregiving, especially for a spouse, has a "more detrimental economic impact" on women, according to the National Institute on Retirement Security.
Persons: Momo, Cindy Hounsell, Marianela Collado, Collado Organizations: Stone, Getty, Census, Women's Institute, CNBC's, Pew Research, Security, Financial, National Institute on Retirement Security Locations: U.S, Plantation , Florida
DON'T MISS: Utah is the happiest state in America—California and Florida didn’t make the top 3Wellness brand, Komowa, created a ranking of the most and least stressed states in America. The company compared U.S. states based on 16 key indicators of stress including hours worked, credit card debt, divorce rates, commute times and more. Surprisingly, New York and California didn't make the top 10 on the list. States were also ranked by individual categories including the highest credit card debt and the longest commute time. Alaska earned the top spot for the highest credit card debt with an average of $7,338, and Wisconsin had the lowest credit card debt average of $4,808.
Persons: Komowa Organizations: Centers for Disease Control, CDC, Census Bureau, of Labor Statistics, New York, Alaska Locations: America, Utah, America — California, Florida, , New York, California, New York, Louisiana, Wisconsin
A February study from WalletHub examined the 100 largest US cities' levels of "financial distress." A February study from WalletHub, a personal finance company, examined the 100 largest US cities and calculated the level of "financial distress" for each. Interestingly, in an earlier WalletHub study that looked at financial distress at the state level, Arizona ranked just 16th least burdened. These cities' financial woes underscore the broader economic challenges, from unemployment to high living costs, that add stress to the residents' financial difficulties. How some cities are alleviating financial distressArizona's largest cities have become a model for financial stability in a post-pandemic economy, instituting policies designed to address recent financial hardships.
Persons: WalletHub, Gilbert, Chandler, Cassandra Happe, Christian Petersen, Happe Organizations: Arizona, Four Arizona, U.S . Census, Administrative, U.S ., Google, Scottsdale, Glendale, Business, Getty Locations: Chicago, Houston, New York, Arizona's, Four, U.S, Boise , Idaho, Arizona, Glendale, Scottsdale, Glendale , Arizona, Angeles, Dallas
Fewer Americans are moving within the US, and boomer homeowners in more expensive states may explain why. Over the last few decades, US internal migration has fallen substantially. Census data shows internal migration has slowed since the 1970s amid deindustrialization and a weaker economy. "This suggests that declining internal migration is due to changes in structural aspects of migration choice, which affect individuals and families of many different backgrounds," the authors wrote. Net migration has been strongest out of California, Illinois, Massachusetts, New Jersey, and New York, which have relatively high wages and housing prices.
Persons: William Olney, Owen Thompson Organizations: Williams College, Business, Sun Belt Locations: California, New York, Northeast, Midwest, Northwest, Southwest, California , Illinois , Massachusetts , New Jersey, Georgia, North Carolina , Tennessee, Texas, California , New York, New Jersey, Florida , Nevada, Arizona
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