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Affordability remains a headacheHome affordability has taken a huge hit since the pandemic as mortgage rates, property prices, and — by extension — down payments have surged. Mortgage rates have since more than doubled at over 7%, and houses cost over $70,000 more at $332,000. The 30-year fixed mortgage rate is now roughly triple the 2.7% rate it was at in early 2021. The savings rate in the late 2010s was around 6.5% of disposable income, and it spiked early in the pandemic due to a surge of government stimulus. 23 cities where down payments are down meaningfullyAlthough affordability is limited as mortgage rates, home prices, and down payments have risen, there are still dozens of cities where the cost of buying a house is headed lower.
Persons: , Hannah Jones, Realtor.com, Freddie Mac, they'd, Jones Organizations: Service, Business Locations: Realtor.com
Now, she told me, blue-collar work is an oasis in the fake-email-job desert, with a newfound social cachet. In a survey conducted in late 2021, 67% of blue-collar workers said they believed the pandemic changed how people viewed their jobs, and 75% of white-collar workers agreed. AdvertisementNow, the economy is adding blue-collar jobs at a rapid clip. There is a tendency — particularly among white-collar workers — to look at blue-collar work through rose-colored glasses, to romanticize the hard work and skills it requires. The labor market hasn't completely reversed course; blue-collar jobs may be booming, but a bachelor's degree is still often a prerequisite for roles with high pay and numerous benefits.
Persons: Alyssa DeOliveira, didn't, DeOliveira, Chris Collins, Collins, Steven Kurutz, influencers, Eames, Bernie Sanders, Elise Gould, she's, it's, moratoriums —, Gould, Frankie Giambrone, Giambrone, Biden, Lael Brainard, Scott Gove, Michael Kaye, Gove, there's, he's, Sam Pillar, Jeff Goldalian Organizations: Walmart, UPS, Business, The New York Times, Economic, Bureau of Labor Statistics, National Economic Council, Teamsters Union, United Auto Workers, Teamsters Locations: Boston, Tennessee, New York City
Bennett, who's three years older than me and was a bit further along in the balding process, had been my hair loss mentor. But now, he was one of the growing number of men who traveled 5,000 miles to Istanbul, the global capital for hair transplant surgery. According to the Turkish Health Tourism Association, about one million people traveled to Turkey for a hair transplant in 2022, spending about $2 billion. Bennett/Spencer Macnaughton Show less Bennett lounging poolside in December 2022 , 11 months after his hair transplant. Spencer Macnaughton during his hair transplant in Istanbul Turkey Kenny Wassus/Business InsiderWhen they finally announced I was finished, it was around 10 p.m.
Persons: Bennett, Turkey —, who's, It's, poolside, what's, I'd, , Aygin . Bennett, Spencer Macnaughton, Serkan Aygin, he'd, Kenny Wassus, Aygin, He's, they'd, Choi, you've, Istanbul Turkey Kenny Wassus, Kenny, I've, I'm Organizations: Mercedes Club, Business, Turkish Health Tourism Association, FDA, International Society of Dermatology, Turkish Airlines, Istanbul Airport Locations: midtown Manhattan, Turkey, Istanbul, Manhattan, New Jersey, Turkish, United States, New York, Istanbul Turkey, Detroit
But Murdoch was an anomaly, to a large degree, in the right-wing media universe. While Murdoch’s power has waned in recent years, his empire continues to serve as the source of gravity in the right-wing media universe. Without Murdoch Media joining the chorus and denouncing Johnson, Greene’s efforts failed to gain enough momentum to actually jeopardize Johnson’s leadership. Instead, Murdoch — invisibly — helped Johnson escape what could have been a dire situation. After all, elsewhere in right-wing media, Johnson was portrayed as a turncoat.
Persons: Rupert Murdoch, , Mike Johnson, Marjorie Taylor Greene, Johnson, Greene, MOSCOW MARJORIE ”, Murdoch, Tucker Carlson, Steve Bannon, Charlie Kirk, Breitbart, Donald Trump, Ted Shaffrey, vlogs, Trump, Murdoch — invisibly — Organizations: New York CNN, Republican Party, Fox News, Street Journal, New York, MAGA Media, Republican, Democratic Party, GOP, CNN, MSNBC, Murdoch Media, Trump Locations: New York, Ukraine, Johnson
There are signs that the U.S. consumer is still spending, especially on experiences. But stubbornly high prices are squeezing consumers with lower incomes, pressuring everyday purchases and corporate profits. Broadly speaking, credit card companies like American Express, Visa and MasterCard have described spending trends as "relatively strong," "relatively stable," and even "healthy." Priceline parent Booking Holdings told analysts there are no signs consumers are taking shorter vacations or trading down in their hotel choices. McDonald's added that "the consumer is certainly being very discriminating in how they spend their dollar."
Persons: Brandon Bell, Morgan Stanley's Michael Wilson, Morgan Stanley, Mike Stocker, Stanley Black, Decker, , Anton Pinsky, Beata Zawrzel, Laxman Narasimhan, Shack, Domino's, Pavlo Gonchar Organizations: Getty, Home Depot, Walmart, American Express, Visa, MasterCard, PayPal, Booking Holdings, Las, Port, Tribune, Service, Consumers, Whirlpool, Corp, Starbucks Corp, Nurphoto, Lightrocket Locations: Austin , Texas, U.S, Las Vegas, Port of Miami, Krakow, Poland, Russia, Ukraine
“I think it is at the center of one of the worst crises for American democracy this century, certainly in recent decades,” Applebaum told me by phone Tuesday. “They don’t believe journalists. They don’t believe independent ombudsman. They don’t believe institutions or science. It is not possible to understand why Trump continues to hold a firm grip over the Republican Party without understanding the propaganda machine at his disposal.
Persons: CNN — Anne Applebaum, , Donald Trump, Applebaum, authoritarians —, ” Applebaum, Vladimir Putin’s, Vladimir Putin’s Russia “, Trump, Rupert Murdoch, Tucker Carlson, Sean Hannity, Steve Bannon, , it’s, Steve Bannon’s, that’s, David Muir, Lester Holt, Norah O’Donnell, Carlson, MAGA Organizations: CNN, Trump, Putin, Sputnik, MAGA Media, New York Times, Washington, Fox News, Republican Party Locations: U.S, Vladimir Putin’s Russia, Ukraine
Investors in Blackstone's real-estate fund asked for their money back in droves — more than $15 billion to date. Unless the real-estate market comes roaring back, analysts warn, BREIT could end up shrinking to a fraction of its current size, leaving the fund's investors holding the bag. Only 3% of BREIT's holdings are in office buildings, which have been ground zero for commercial real estate pain. Advertisement"Not all real estate is created equal," BREIT boasted in a recent letter to stockholders, "and where you invest matters." "Commercial real estate is a slow burn," Brian Moynihan, the CEO of Bank of America, recently observed.
Persons: Blackstone, , BREIT, REITs, Steve Schwarzman, Jeenah, Nate Koppikar, Craig McCann, BREIT's, Chilton, ​ ​ McCann, McCann, Horacio Villalobos, That's, Donald Trump, Robert Chang, Schwarzman, Michael Blackshire, Phil Bak, Stephen Schwarzman, Shannon Stapleton, Brian Moynihan, it's, It's Organizations: BREIT, Orso Partners, Securities Exchange Commission, Blackstone, SEC, Chilton Capital Management, SLCG Economics Consulting, Publicly, University of California, Regents, Armada Investors, Reuters, Bank of America Locations: BREIT, Lisbon, Fideres
Therefore, investors would be more incentivized to buy companies that have a strong record of dividend payments. The strategist expects more companies to add dividends payouts going forward, as firms begin to increasingly understand the appeal for investors. The stocks had to meet the following criteria: Buy-rated by Citi Research 3-year dividend per share with a compound annual growth rate above 5% Above median expected dividend growth Potential dividend per share upside Reasonable payout ratio Reasonable dividend yield One name on the list was Visa , which currently has a dividend yield of 0.7%, according to Citi Research. Semiconductor firm Lam Research also made the list, with a dividend yield of 0.9%. More than half of analysts covering the stock rate it a buy or strong buy and see a potential upside of nearly 6%.
Persons: Scott Chronert, Chronert, TD Cowen, Bryan Bergin, Riley, — CNBC's Michael Bloom Organizations: Federal Reserve, Citi, Fed, Citi Research's, Citi Research, Visa, LSEG, Mastercard, Semiconductor, Lam Research, Research Locations: Asia, Europe
Here are Tuesday's biggest calls on Wall Street: Loop initiates MongoDB as buy Loop sees growth accelerating for the developer data platform company. JPM reiterates General Motors and Ford as overweight JPMorgan said the stocks will benefit from "lower commodities & higher production outside China." JPMorgan upgrades Assai to overweight from neutral JPMorgan said it sees improving trends and better visibility for the Brazilian wholesaler. JPMorgan upgrades Roblox to overweight from neutral JPMorgan said it sees a "compelling entry point" for the stock. JPMorgan downgrades Five Below to neutral from overweight JPMorgan downgraded Five Below due to "ongoing macro pressure."
Persons: JPM, JPMorgan, KeyBanc, Wells, D.A, Davidson, Davidson's, Berenberg, Morgan Stanley, Harley, Evercore, it's bullish, it's, Tesla, Rosenblatt, Oppenheimer, Dwight, Key, Truist, Wolfe, Warner, Price Organizations: Motors, Ford, GM, Nvidia, MU, BMO, prem, NICE, JPMorgan, Barclays, Apple, Albertsons, Catalyst Watch, NOVA, Penn Entertainment, PENN, ESPN Bet, Benchmark, Qualcomm, Warner Brothers, Warner, HBO Locations: China, Texas, U.S
Taking Account of Rising Health Care Costs
  + stars: | 2024-04-18 | by ( Josh Ocampo | ) www.nytimes.com   time to read: +1 min
Navigating the health care system in the United States can often feel like being lost in a maze. For that reason, Chris Hamby, an investigative reporter, has devoted much of his five-year career at The New York Times to guiding readers through such dizzying questions. His latest article, which was published online this month, explored the complex subject of insurance bills. Last year, Mr. Hamby began investigating MultiPlan, a data firm that works with several major health insurance companies, including UnitedHealthcare, Cigna and Aetna. After a patient sees an out-of-network medical provider, the insurer often uses MultiPlan to recommend how much to reimburse the provider.
Persons: Chris Hamby, Hamby, MultiPlan Organizations: The New York Times, Times Locations: United States, Cigna, Aetna
Morgan Stanley is about to report first-quarter earnings
  + stars: | 2024-04-16 | by ( Hugh Son | ) www.cnbc.com   time to read: +1 min
Ted Pick, CEO Morgan Stanley, speaking on CNBC's Squawk Box at the World Economic Forum Annual Meeting in Davos, Switzerland on Jan. 18th, 2024. Morgan Stanley is set to report first-quarter earnings before the opening bell Tuesday. Pick's tenure has kicked off on a rocky note, as high interest rates have incentivized the bank's wealth management customers to move cash into higher-yielding securities. But if its rivals are any indication, Morgan Stanley could be helped by strong investment banking and trading results in the quarter. Analysts are likely to question Pick about reports that multiple U.S. regulators are investigating Morgan Stanley for potential shortfalls in how it screens clients for its wealth management division.
Persons: Ted Pick, Morgan Stanley, Wells, Goldman Sachs Organizations: LSEG Revenue, Banking, JPMorgan Chase, Citigroup, Monday . Bank of America, Analysts Locations: Davos, Switzerland, Wells Fargo
But Zillow identified 5 US cities with the most homeowners likely to move — and sell their homes. Millennials and others struggling to buy homes may have better luck in the Northeast and Midwest. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementThe current tight housing market is often reduced to a generational standoff: baby boomers are holding onto their houses, keeping out millennial buyers. This story is available exclusively to Business Insider subscribers.
Persons: Zillow, Organizations: Service, Business Locations: Millennials, Northeast, Midwest
Read previewShares of insurance giant Globe Life Inc. plunged 53% today and trading was halted eight times after a short-seller issued a damning narrative on the company. (Globe Life, AIL, and the other defendants denied the allegation in a legal filing.) Meanwhile, Warren Buffett's Berkshire Hathaway sold all 6.35 million shares of Globe Life stock the investor once held. In his April 3 presentation to investors, Koppikar called Globe Life "a dead-end pyramid scheme." He predicted that the DOJ investigation will hinder recruiting, "which is the lifeblood for pyramid schemes like Globe Life."
Persons: , Arias, Panda, Fuzzy Panda, Steve Greer, Dave Zophin, Trina Orlando, Renee Zinsky, Zinsky, AIL, Simon Arias, Michael Russin, Amy Williamson, Zinsky's, Russin, Warren Buffett's Berkshire Hathaway, John Kane, Matthew D, Williamson, wasn't, I'm, Michael Clark, Renee, Jennifer Haworth, Abeni Mayfield, Susan Antilla, Orlando, Nate Koppikar, Haworth, J, Matthew Darden, Russin's, Koppikar Organizations: Service, Inc, Business, BI, Organization, Globe, AIL, Arias Organization, Agencies, Opportunity, Department of Justice, Globe Life, Russin, AAA, Orlando, Alpha, Reuters, DOJ Locations: Globe's, Pittsburgh, Columbia , Maryland, Mayfield, Arias
Read previewAt the beginning of February, Rep. Brian Higgins officially resigned from Congress to take a job as the president of a local performing arts center. It was a curious move for the New York Democrat, who had served in the House for 19 years. This story is available exclusively to Business Insider subscribers. Just weeks later, Higgins was named president and CEO of Shea's Performing Arts Center, which includes a historic theatre first built in 1926. And it makes it more difficult for potential candidates who aren't independently wealthy to run for Congress in the first place.
Persons: , Brian Higgins, Higgins, Kevin McCarthy's, That's, Daniel Schuman, Alexandria Ocasio, Cortez Organizations: Service, New York Democrat, Democrats, Business, Shea's Performing Arts Center, POPVOX Foundation, Democratic, Cortez of New York Locations: Washington, Shea's, Buffalo, Alexandria, Cortez of New
Morgan Stanley raised its price target on Nvidia, calling for more than 15% upside going forward. — Lisa Kailai Han 5:53 a.m.: Jefferies lowers Tesla price target, cites 'self-inflicted' wounds Tesla's troubles may not be over yet, according to Jefferies. The investment firm kept its hold rating on the electric vehicle maker and lowered its price target to $165 from $185. Jefferies analyst Philippe Houchois also said Tesla is plagued by shifting product priorities. — Lisa Kailai Han 5:53 a.m.: Morgan Stanley raises Nvidia price target Nvidia has already rallied more than 72% in 2024.
Persons: Morgan Stanley, Jefferies, Patrick Cunningham, Erik Fyrwald's, Cunningham, — Lisa Kailai Han, Zillow, John Colantuoni, Colantuoni, Scott Schoenhaus, Schoenhaus, Lisa Kailai Han, Hess, Betty Jiang, CVX, Jiang, Tesla, Philippe Houchois, Joseph Moore, Moore, — Fred Imbert Organizations: CNBC, Nvidia, Citi, Management, & Biosciences, Jefferies, National Association of Realtors, Markets, GDRX, Barclays, Chevron, NVIDIA, AMD Locations: Tuesday's, China
Major airlines' bottom line depends on credit card companiesThe Credit Card Competition Act , which was introduced to Congress in June 2023 would require major banks to use at least one credit card payment network that isn't Mastercard or Visa — companies that control more than 80% of US credit card transactions — to introduce more competition into the credit card market. AdvertisementSen. Dick Durbin, a Democrat from Illinois, is the lead sponsor of the Credit Card Competition Act. AdvertisementCredit card rewards incentivize travelersBusinesses typically make up for these credit card swipe fees by raising prices for customers. Bohorquez, however, said increased credit card competition is unlikely to lower prices in practice. "I hope that people continue to earn and enjoy their credit card points and take a lot of free trips."
Persons: , Jess Bohorquez, Bohorquez, she's, Banks, Sen, Dick Durbin, Durbin, I'm Organizations: Service, Sydney Opera House, Business, Federal, Mastercard, Visa, Airlines, United, Southwest Airlines, United Airlines, BI, Airlines for America, American Airlines, America, Banking, Housing, Urban Affairs, House Locations: Illinois, Delta
Some users have been re-verified on X for being a "notable" account and given a blue check. During this time, the blue check has come to mean something very specific: someone who actually pays for X. (OK, I'm sure that not ALL people who were paying for a blue check fall into those categories. AdvertisementThere hasn't been an official explanation of why a bunch of formerly verified people just got a free blue check. I think the only reasonable answer here is to hide the blue check and enjoy the free features.
Persons: , It's, haven't, Elon Musk, I've, Elon Organizations: Service, Twitter, Elon
Creator Sydney McDonald thought the TikTok Creative Challenge was a scam when she first saw an advertisement for it while scrolling through the app last year. The Creative Challenge, launched in June, is a forum for creators to submit UGC-style ads at the request of brands. Five creators BI spoke with said they're earning thousands of dollars a month through TikTok's Creative Challenge. BI verified each of their earnings with screenshots of their TikTok Creative Challenge dashboard. McDonald said many creators she's met along the way have told her they've discovered the program through creators like her.
Persons: Sydney McDonald, McDonald, it's, TikTok, Muaaz Shakeel, Christina Johnson, Corey Barton, Johnson, Barton, they've, Caitlin Jenco, Shakeel, Jordan Erickson, she's, TTCC Organizations: Business, UGC, TikTok's Creative, Creative Locations: The Arizona
Despite enticing alternatives, a fixed-rate mortgage remains the best option for us. With mortgage interest rates still close to 7%, alternative mortgages like adjustable-rate loans and mortgages with shorter maturities are gaining in popularity. AdvertisementThe beauty of the fixed-rate mortgage is that it offers certainty in an uncertain world. Any gain somebody might get with a lower interest rate might be offset by paying more for the house. So, we will be sticking with a fixed-rate mortgage and shopping around for the best rate.
Persons: , Sarah Alvarez, Alvarez, Brandon Bell, Freddie Mac Organizations: Service, William, Mortgage, Business, ARM, Treasury, Street Journal, FG, National Association of Realtors Locations: Austin , Texas
Read previewBeing a whistleblower was antithetical to everything Pav Gill had done during his nine-year stint as a corporate lawyer. When Wirecard headhunted the Singaporean native to be its head of legal, Gill took up the position enthusiastically. Despite the fruitful outcome, the experience of being a whistleblower traumatized Gill. AdvertisementThis realization was the driving force behind Gill setting up his startup — Confide — a platform for 'internal whistleblowers' to raise issues within their organizations. AdvertisementGill anticipates that this model will work best for companies with over 50 employees, and ideally above 250 employees.
Persons: , Pav Gill, Gill, foraying, Wirecard, Gill's, don't, " Gill, they're Organizations: Service, Allen, Business, Financial, Directive, EU Locations: Wirecard, Asia, Singapore, ESG
It is entirely possibly that millions of Americans encountered false claims about the bridge collapse when they woke up Tuesday morning before ever seeing the facts. Politics is everythingWhat is perhaps most notable about how quickly and widely conspiracy theories about a breaking news story spread is just how normal this all is right now. Jewish space lasersAs news unfolded on Tuesday, the conspiracy theories continued. Greene has not weighed in on the cause of the bridge collapse. Jewish space lasers were not responsible for the wildfires, nor the Baltimore bridge collapse.
Persons: Francis Scott Key, Israel, , Ben Decker, Andrew Tate, Tate, Tate’s, Elon Musk, meekly, Sandy Hook, Alex Jones, , ” Jones, Jones, Baltimore’s, Baltimore Mayor Brandon Scott, it’s, Biden, Taylor Swift, Joe Biden, Trump, X, David Simon, Simon, , Marjorie Taylor Greene, Greene Organizations: CNN, Facebook, Maryland State Police, Coast Guard, Baltimore Mayor, Equity, FBI, Republicans, Netflix, HBO, Georgia Republican Locations: Baltimore, Covid, USA, Romania, United Kingdom, Florida, Texas, California, Georgia
Read previewA Chinese state media report about rural men struggling to afford exorbitant dowries has triggered backlash online from people who say the bachelors are missing the point. State-run outlet Legal Daily published an article on Monday covering the dating lives of three rural men in their early 30s, who said they can no longer keep up with rising "betrothal prices." Many accounts, who listed themselves as female on their profiles, say men are using the unattainable dowries as an excuse for their undesirability as partners. It's not about the dowries, people sayRising dowries have unsettled Chinese officials already fretting about plummeting national birth and marriage rates. AdvertisementMeanwhile, it's become increasingly clear that officials are concerned by the growing prevalence of singlehood among rural men, with state media often discussing such bachelors leading loveless lives.
Persons: , Cheng Wei, Mu Zheng, Mu, It's, shouldn't, it's, loveless Organizations: Service, Business, National University of Singapore, Monday, BI, dowries Locations: Jiangxi, Weibo, China, Beijing
Here's everything that we know about a potential season two of "3 Body Problem." But Woo said at the SXSW Film & TV Festival in March that they had already begun working on a second season. What would '3 Body Problem' season 2 be about? Here's where we'll really get into some spoiler territory, both for the ending of season one of "3 Body Problem" and book spoilers that might also be potential season two spoilers. "3 Body Problem" is now streaming on Netflix.
Persons: , Liu Cixin's, Ye Wenjie, David Benioff, Weiss, Alexander Woo, they're, Benedict Wong, Ed Miller, Woo, we've, Liam Cunningham, showrunners, Benioff, Nothing's, haven't, Jess Hong, Jin Cheng, Jovan Adepo, Saul Durand, Eiza, Auggie Salazar, Wade, Clarence Shi, Marlo Kelly, Tatiana, Saamer Usmani, Raj Varma, Alex Sharp, Will Downing, we'll, Saul, Luo Ji, who's, Luo, Yu, Tseng, Maria Heras Organizations: Service, Netflix, Business, SXSW, TV Festival, Collider, United Nations Locations: China, United Kingdom
Read previewTarget quietly rolled out a new way for advertisers to buy ads as it tries to win bigger budgets from brands. They added that Roundel Media Studio is intended to be a one-stop shop for advertisers buying search ads. Amazon runs its own ad business in-house, and retailers like Walmart, Kroger, and Albertsons have also recently taken parts of their ad businesses in-house. "Roundel Media Studio brings together many of Roundel's solutions and tools, starting with our sponsored product ads, Target Product Ads by Roundel," the landing page says. AdvertisementTinuiti's Marsten said Target needs to roll out other self-service tools to better compete with Amazon and Walmart.
Persons: , Briana Finelli, Elizabeth Marsten, Wavemaker's Finelli, Criteo, it's, Tinuiti's Marsten Organizations: Service, Media, Business, Target, Procter, Gamble, Unilever, Walmart, Kroger, Albertsons, Amazon Locations: Criteo, Wavemaker, Tinuiti
The American Society of Civil Engineers gave it a C-minus in 2021 and said the US needed about $2.6 trillion in infrastructure investment over a decade. These include nonvehicle transportation projects such as pedestrian bridges and urban bike paths and neighborhood-level projects like park improvements. Inflation, worker shortages, and other obstaclesAcross the country, there are some key practical challenges to implementing infrastructure projects. Overcoming barriersLocal governments and employers across the country recognize many of the challenges to building and maintaining major projects. Under the Infrastructure Investment and Jobs Act alone, 72 programs "emphasize or allow some type of workforce development activity," a Brookings report found.
Persons: , Joe Biden, Joseph Kane, Charles Marohn, Marohn, Kane, Drew Angerer, it's, Biden, It's, Greg Gianforte Organizations: Service, American Society of Civil Engineers, Infrastructure Investment, Jobs, Business, Transportation, Brookings Institution, Rail, Potomac, White House, Texas Department, US Department of Transportation, Michigan's, Grant, they're, Biden, Builders and Contractors, Congress, Jobs Act, Brookings Locations: Washington, Strong, Baltimore, Los Angeles, San Francisco, Long, New York, Austin, Austinites, America, Detroit, Brookings, Montana
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