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☆ Inflation is scrambling Americans' perceptions of middle class life
▼ + stars: | 2024-05-05 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +8 min

For many in the middle class, inflation is at the heart of this feeling. That's making people feel locked out of many of the milestones long associated with middle-class life. 74% of middle class Americans have cut back on non-essential spending, according to Primerica's survey. 46% of middle-class Americans said they've dialed back or completely paused saving for the future and 38% said they didn't think they could afford an unexpected expense over $1000. Buying a home may be the greatest example of a tenet of middle-class life feeling out of reach for many, and that struggle is very real rather than merely negatively perceived.

Persons: —, Vincent, he'd, he's, Eoin Sheehan, Chris Collins, Collins, Jessica, they're, Kayla, Primerica, they've, Sheehan Organizations: Service, Business, Pew Research Center, Redfield & Wilton, Federal, Northwestern Mutual's Collins, Northwestern Mutual, Newsweek, National Association of Realtors Locations: Santa Barbara, California, Alabama, Primerica

☆ The US was getting too expensive. So this artist relocated to France for a slower-paced life
▼ + stars: | 2024-04-16 | by ( Silvia Marchetti | ) edition.cnn.com time to read: +9 min

CNN —Ditching the US and relocating close to the French Pyrenees wasn’t part of Taylor Barnes’ life plan. ‘Visually inspiring’US artist Taylor Barnes, from Los Angeles, relocated to the medieval village of Saissac close to the French Pyrenees in 2021. Taylor Barnes“I considered, among many things, where I would like to live out the last quarter of my life,” Barnes tells CNN. Cozy hideawayIn 2019, Barnes bought an abandoned crawfish restaurant and converted it into a residency for artists. Since moving to Saissac, Barnes says she has happily embraced a slower-paced lifestyle.

Persons: Taylor Barnes, Barnes, Taylor Barnes “, ” Barnes, “, ”, she’d, Cozy hideaway, Dennis Miranda Zamorano, Sonya, Berger Blanc, apéros, She’s, it’s, Carte, Barnes isn’t Organizations: CNN, Berger Blanc Suisse, Barnes Locations: Los Angeles, Saissac, Aude, France, Montagne, French, California, Spain, Saissac ., England, Ireland, Netherlands, America

☆ Boxabl customers tired of waiting for their tiny homes ask for their deposits back as a cash crunch looms
▼ + stars: | 2024-02-22 | by ( Daniel Geiger | Alex Nicoll | ) www.businessinsider.com time to read: +12 min

While most of those customers say they have received their money, some said their refund requests were disputed or ignored. Two-thirds, or 23, of those people said they had asked to be refunded, or were going to ask Boxabl for their money back. Boxabl said it recently received approval to sell its homes in Arizona and is close to receiving similar clearances in California and Nevada. Amid its own dwindling cash supply, Boxabl has recently appeared less willing to grant refunds to some depositors who want out. When he sent an email in January to Boxabl asking for a refund, the company declined his request.

Persons: —, Boxabl, Dan Pena, Pena, Chris Armbruster, Gary Palmer, Palmer, He's, Galiano Tiramani, Zach Punnett, Punnett, Tiramani, What's, Paolo, Boxabl Galiano, Paolo Tiramani, Peers, Helene, Ali Faraji, Faraji, wouldn't Organizations: Service, North Las, Business, Securities and Exchange Commission, SEC, Oklahoma City, Archdiocese, Regulators, Tesla Plaid Locations: North Las Vegas, California, Los Angeles, Joshua Tree, Fort Worth , Texas, Riverside , California, Guantanamo Bay, Arizona, Nevada, Oklahoma, California , Virginia , Nevada , Arizona , Utah, Hawaii, Canada, Atlanta, Aptos, Santa Cruz

The leading Democrat in the primary is George Whitesides, a former NASA chief of staff supported by the campaign arm of House Democrats. A STRONGLY DEMOCRATIC DISTRICT THAT VOTES REPUBLICANThe Central Valley farm belt is a political conundrum. Gray, who is backed by the campaign arm of House Democrats, argues that his party can’t reclaim the House majority without winning his district. Rollins, who is backed by the campaign arm of House Democrats, says it's time for new leadership and has depicted Calvert as an extremist. “House Democrats are ready to find common ground and a bipartisan path forward.”

Persons: Richard Nixon, Ronald Reagan, hasn’t, Joe Biden, —, Gavin Newsom, Donald Trump, Newsom, ” Newsom, Trump, Mike Garcia, Garcia, — Garcia, George Whitesides, He's, “, Katie Porter, Scott Baugh, Porter, Sen, David Min, Joanna Weiss, David Valadao, Democrat T.J, Cox, Rudy Salas, Valadao, Salas, Chris Mathys, Melissa Hurtado, Republican John Duarte, Democrat Adam Gray, Gray, Ken Calvert, Will Rollins, Calvert, Rollins, Michelle Steel, Kim Nguyen, Derek Tran, Steel, Mike Levin, Levin, ” Organizations: ANGELES, —, Republican, Democratic, GOP, White House, LA COUNTY, District, Navy, Trump, California’s, Los Angeles, NASA, Democrats, REAGAN, Orange, “ Reagan, U.S, Senate, Central, Republicans, Democrat, CENTRAL, ANGELES Rep, SOUTH, Republican Rep, Capitol, Steel, Democratic Party, Hamas, American, DEMOCRAT, DISTRICT, Biden, Marine, Base, Congress, “ Locations: California, Southern California, rematches, Washington, Democratic Los Angeles County, Los Angeles, Mexican, Central, Salas, Palm Springs, Korean, Capitol Hill, Orange County, Israel, Orange, San Diego, Coastal California, Pendleton

☆ Pineapple express: An intense atmospheric river slams into California, threatening to flood roads and trigger mudslides
▼ + stars: | 2024-02-04 | by ( Tina Burnside | Nouran Salahieh | ) edition.cnn.com time to read: +6 min

CNN —An intense, long-lasting atmospheric river is moving into California Sunday, bringing the potential for “life-threatening” flooding, mudslides and widespread power outages as it dumps heavy rain and snow. A more widespread Level 3 risk exists for much of coastal California, including San Francisco. • A month’s worth of rain possible in Los Angeles: In Central and Southern California, widespread rainfall totals of 3 to 6 inches are expected – more than a month’s worth of rain for most. Parts of the central and southern coastline of the state are expected to see the most significant amounts of rain and flooding. Genaro Molina/Los Angeles Times/Getty ImagesThe impact from powerful onshore winds will be felt across northern and central California through Sunday, eventually shifting to southern California into Sunday night, the National Weather Service said.

Persons: •, Hilary, Los Angeles Mayor Karen Bass, San, ” Eric Schoening, Schoening, Nancy Ward, ” Ward, “, ”, Ward, Genaro Molina Organizations: CNN, Los Angeles Mayor, National Weather Service, Sunday, California Governor’s, Emergency Services, Los Angeles Times Locations: California, Los Angeles, Santa Barbara, Oxnard, Southern California, San Francisco, Central, San José, Ventura County, Redding, San Diego, Nevada, Sierra Nevada, Angeles, Long Beach , California

☆ California braces for a stronger atmospheric river this weekend
▼ + stars: | 2024-02-03 | by ( Allison Chinchar | Sara Tonks | ) edition.cnn.com time to read: +4 min

CNN —A stronger and longer-lasting atmospheric river event is set to hit California this weekend, bringing a considerable risk for flash flooding, mudslides, damaging winds, and heavy mountain snow. Nearly 40 million people are under flood watches including San Francisco, Sacramento, Los Angeles, and San Diego. In Southern California, widespread rainfall totals of 3 to 6 inches are expected – more than a month’s worth of rain for most. A more widespread Level 2 exists for much of coastal California including San Francisco down through Los Angeles. On Monday, the Level 3 of 4 risk expands farther south to include Los Angeles.

Persons: Taylor Ward Organizations: CNN, National Weather Service, Los Angeles International Airport, Crescent, Santa Barbara, Los Angeles ., NWS, Sierra, Yosemite National Locations: California, San Francisco , Sacramento, Los Angeles, San Diego, Santa Cruz, Big Sur, Southern California, Sacramento, Eureka, Crescent City, Santa, Oxnard, Sunday, San Francisco, Redding, Jose, Salinas, Reno , Nevada, Nevada, Mono County, Reno, Mammoth

☆ Student-loan borrowers are taking on more debt, and it's not all tuition — blame skyrocketing housing costs
▼ + stars: | 2024-01-07 | by ( Eliza Relman | Ayelet Sheffey | ) www.businessinsider.com time to read: +8 min

AdvertisementRigel Robinson, chair of the Land Use, Housing, and Economic Development Committee on the Berkeley City Council, said "the student housing crisis has become the defining characteristic of the student experience at UC Berkeley." Experts said the housing crisis is making the already high student-debt load in the country worse. But with housing costs spiking, living expenses are a big part of the story for many. Darrell Owens, a policy analyst at California YIMBY — an advocacy organization working to end California's housing crisis — noted that the student housing crisis exacerbates the broader housing crisis. "Then what ends up happening is that they spike housing costs for other people."

Persons: —, Katie Ibsen, Ibsen, Berkeley, Gavin Newsom, Rigel Robinson, Robert Kelchen, Kelchen, Marcella Bombardieri, Bombardieri, They're, Pell, I've, Darrell Owens, Robinson, it's Organizations: Service, University of California, Business, Gov, Economic, Berkeley City Council, UC Berkeley, Department of Educational, University of Tennessee, Knoxville ., Center for American Progress, Kootenai, Parsons School of Design, Hope, Temple University, Pell Grants Locations: Berkeley, COVID, Davis , California, Knoxville, Knoxville . College, California, Montana, Kootenai College, New York City, Jersey City

☆ OpenAI CEO Sam Altman went on an 18-month, $85 million real-estate shopping spree — including a previously unknown Hawaii estate
▼ + stars: | 2023-11-30 | by ( Katherine Long | Hugh Langley | ) www.businessinsider.com time to read: +11 min

AdvertisementYears before the recent drama at OpenAI turned CEO Sam Altman into a household name, the former Y Combinator president went on an extraordinary 18-month, $85 million real-estate shopping spree, according to records reviewed by Business Insider — including a previously unreported $43 million Hawaii estate on land that locals describe as historically significant. AdvertisementSam Altman's Hawaii estate is immediately adjacent to the reconstruction of the royal temple of King Kamehameha I. Maxar TechnologiesA $43 million estate in HawaiiIn July 2021, Altman bought a twelve-bedroom estate in Kailua-Kona, on the big island of Hawaii, for $43 million. Altman's purchase of the Hawaii property has not been previously reported. AdvertisementAnnie had been unaware that her oldest brother owned property in Hawaii until Business Insider asked her about it, she said. A $27 million San Francisco homeAltman's weekday residence is a home on San Francisco's Russian Hill that was once described — inaccurately — as the most expensive home in San Francisco.

Persons: Sam Altman, Altman, —, OpenAI, he's, He's, Sam Altman's, King Kamehameha I, King Kamehameha, Jennifer Serralta, Serralta, Jack, Max, — Sam Altman, Mark Zuckerberg, Larry Ellison, Marc Benioff, Jeff Bezos, Peter Thiel, Annie Altman, Annie, Sam's, Napa Altman, Cade Metz, Bob Dickinson Organizations: Service, Business, Bloomberg Tech Summit, Wall Street Journal, YouTube, Altman, LinkedIn, Apollo, Opportunity Fund, Silicon Valley, Business Insider, San, SEC, 9Point Ventures, Uncommon Ventures, New York Times, Capital Management, San Francisco Chronicle, New Yorker, Israeli Defense Force, Tesla Locations: San Francisco, Napa, Hawaii, Napa , California, Sam Altman's Hawaii, Kailua, Kona, wakesurfing, Kauai, Lanai, San, Russian, California, Hollywood, Big Sur

☆ Retired Food Scientist Lists Coastal California Home for $42.5 Million
▼ + stars: | 2023-07-12 | by ( Sarah Paynter | ) www.wsj.com time to read: 1 min

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Persons: Dow Jones Locations: california

Northern California braced for more downpours as southern and central regions of the state got a break Wednesday from torrential rains and prepared for another strong system just days away. At least 17 people have died since late last week in these California storms that show few signs of slowing up. Josh Edelson / AFP - Getty ImagesThe heaviest rains Wednesday were expected to fall on northern and coastal regions of the state. A major system is forecast to hit almost all of coastal California, from the Oregon border to Los Angeles late Friday afternoon or evening. Santa Cruz County has been told to brace for between 3 to 6 inches of rain Friday, Saturday and Sunday, according to Hart.

☆ Winter Storm Begins to Move Across U.S. as Holidays Approach
▼ + stars: | 2022-12-10 | by ( Ginger Adams Otis | ) www.wsj.com time to read: 1 min

The moisture headed toward the Western U.S. appeared in a satellite image from the National Oceanic and Atmospheric Administration. An intense storm sweeping across much of the U.S. in coming days will bring heavy rain and snow in some places, along with possible tornadoes and blizzard conditions. The rough weather started in the Pacific Northwest and California early Saturday. Heavy rains prompted flood advisories for some of coastal California, while some northern mountain passes were blanketed in icy snow.

☆ US government entities Fannie Mae and Freddie Mac were just cleared to purchase mortgages of over $1 million for the first time because home prices are still so high
▼ + stars: | 2022-11-29 | by ( Kelsey Neubauer | ) www.businessinsider.com time to read: +3 min

Fannie Mae and Freddie Mac help make mortgages available by purchasing them from lenders. The limit will top $1 million for the first time in 2023, reflecting a new norm in US housing. Fannie and Freddie are the largest buyers of US home mortgages and are credited with providing constant liquidity in the housing market through their purchases, even during downturns. Their scope in residential markets is capped by the so-called conforming loan limit, which per a 2008 law is set in accordance to changes in home prices. Outside the priciest areas of the country — which include areas around New York, Washington, DC, and coastal California — the conforming loan limit will also rise by 12.2%, to $726,200.

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