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The median house price in the U.S. is now 5.8 times more than the median annual income of $80,000. That was, after all, the median price for a house in the area at the time. Jonathan OchartThe median price of a home in Los Angeles county is just under $960,000, according to Zillow listings data. It's just not a level playing field," says Ochart about the income now needed to afford a home. In Grand Rapids, median home prices were on the rise before the pandemic and then soared 54% from 2020 to $285,000 in June 2024, according to Zillow sales data.
Persons: Kelcie Lesko, Tim Khalil, Lesko, Khalil, they'll, Gen Xers, What's, — there's, they're, Daryl Fairweather, Kelly Diehr, homebuyers, you'd, Diehr, Jonathan Ochart, Ochart, It's, Timothy Ham, Timothy Ham couldn't, Ham, you've, That's, boomer, it's, Lawrence Yun, Millennials, Ramit Sethi, Rich, Brad Klontz, homebuying Organizations: CNBC, Homes, LA, National Association of Realtors, NAR Locations: New Jersey, Monmouth County, North Brunswick, Lesko, homeownership, U.S, Denver, Brazil, Los Angeles and New York, San Antonio, Los Angeles, Antonio, Texas, LA, Boise , Idaho, Tacoma , Washington, Grand Rapids , Michigan, Grand Rapids, Kalamazoo
Read previewFormer President Donald Trump is taking his courtship of the crypto industry to the next level. "If we don't do it, China will do it," Trump told Sarmad, referring to making cryptocurrency mainstream. Ahead of the Monday livestream, Trump said he would use the event to launch his latest business venture: a new crypto-banking platform called World Liberty Financial. During the Monday livestream, Trump credited his changing perspective on crypto to his NFTs' positive response. During the Monday livestream, Trump took a scaremongering approach, encouraging crypto lovers to vote for him lest they court hostility from the US Securities and Exchange Commission.
Persons: , Donald Trump, Web3, Trump, Sarmad, Chase Herro, Zach Witkoff, Steve Witkoff, Trump's, Donald Jr, Eric, Barron, Don Jr, Kenneth Niemeyer, hocking NFTs, Joe Biden, poising, you'd, bitcoin, Kamala Harris Organizations: Service, Republican, Business, Liberty, Liberty Financial, CNBC, Trump, New York Times, US Securities and Exchange Commission, Analysts, Fox Business Locations: China, Nashville, United States, cryptocurrencies
Bitcoin climbs above $60,000 ahead of Fed rate decision
  + stars: | 2024-09-17 | by ( Tanaya Macheel | ) www.cnbc.com   time to read: +1 min
Bitcoin reclaimed $60,000 on Tuesday as investors awaited details of the Federal Reserve's rate cutting plans. Bitcoin "is likely to react to the news of a Fed rate cut with some retrenchment as the short-term market dynamics filter out," said Philipp Pieper, co-founder of Swarm Markets. The market is divided on whether the Fed would reduce rates by 25 or 50 basis points. One basis point equals 0.01%. Investors have been anticipating Fed rate cuts, the growth of bitcoin ETFs and the outcome of the U.S. presidential election as the next catalysts to shake up the crypto market.
Persons: Bitcoin, cryptocurrency, Donald Trump, Philipp Pieper, bitcoin Organizations: Metrics, Federal Reserve, Swarm Markets, Nasdaq, Investors, U.S
How rate cuts workCentral banks cut interest rates for two main reasons: financial conditions are expected to worsen drastically, or inflation has cooled so much that leaving interest rates at high levels will be overly restrictive and put a drag on the economy. The Fed lowers its target rate by buying more securities, namely Treasury notes and mortgage-backed securities. When they have more money to lend out, they don’t need to charge such high interest rates on mortgages and other types of loans they offer. Business' hiring decisions can be influenced by the Federal Reserve's interest rate decisions. When the Fed lowers or raises rates, it takes a while for the full effect of those moves to be felt across the economy.
Persons: you’ve, Jerome Powell, it’ll, Don’t, don’t, Banks, it’s, Thomas Drechsel, Lynne Sladky, , “ they’re, ” Said, Milton Friedman, ” Drechsel, , they’re, Drechsel Organizations: New, New York CNN, Federal Reserve, University of Maryland, Business, Netflix, CNN, Fed Locations: New York
The rise comes amid anticipation that the Fed will deliver a half-point rate cut. Investors are anticipating the Federal Reserve's long-awaited rate cut tomorrow, which will be announced at the end of the central bank's two-day policy meeting. Regardless of the size of the cut, investors buying up bitcoin are anticipating the looser lending conditions will lead to more speculative behavior. We could be seeing a recovery of investors' appetite for risk-on assets like crypto, instigating more flows into Bitcoin spot ETFs," said Leena ElDeeb, a research analyst at 21Shares. Seasonal factors weakened the spot bitcoin ETF inflows this summer while deteriorating macro conditions drove investors toward safe, risk-off assets.
Persons: , Morgan Stanley, Tuesday's, Leena ElDeeb, Alex Kuptsikevich, Bill Dudley Organizations: Service, New York
Savings Accounts and C.D.sWhat’s happening now: The rate reversal is likely to be most disappointing for savers, who have benefited from juicier yields on everything from online savings accounts and certificates of deposit to money market funds. Those are all likely to inch lower, in line with the Fed’s move, but some providers may move faster than others. That usually depends on whether the bank wants to attract new customers by dangling yields that are more attractive than their competitors’ offerings. If you’re considering certificates of deposit, now is probably the time to lock in a decent rate if you haven’t already. Online savings accounts averaged 4.40 percent in August, down from 5.1 percent the same month last year.
Persons: you’ll, Jeff Sommer’s Locations: DepositAccounts.com
I recently bought a used car, and I ended up getting gap coverage and an extended warranty. Gap insurance is crucialGap insurance is a type of car insurance that covers the difference between what you owe on your car loan or lease and the car's actual cash value in the event that your vehicle is totaled or stolen. So, for me, paying $1,060 extra for gap coverage and also checking to make sure my auto insurance coverage is sufficient is well worth it. If you're looking for the best car insurance, look no further. MaxCare provides coverage for unexpected vehicle repairs after the manufacturer's warranty has expired, protecting you from high out-of-pocket repair costs.
Persons: , MaxCare, I'm Organizations: Service, CarMax Locations: CarMax
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTrump-backed crypto platform announces new details on token offering: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Bitwise's Matt Hougan joins from Future Proof 2024 to discuss institutional bitcoin adoption and trends in portfolio allocations for the cryptocurrency.
Persons: explainers, Matt Hougan Organizations: Trump, CNBC Crypto, CNBC
Tuesday's retail sales data boosted soft landing outlooks. AdvertisementIndexes were mixed on Tuesday with investors still split on the potential size of an interest rate cut, with less than 24-hours to go before the Federal Reserve announces its policy decision. Unanticipated strength in Tuesday's retail sales data convinced investors that the economy remains robust, and the S&P 500 briefly hit a record high before paring gains. Bond yields edged up ahead of the Fed decision, nodding to the possibility that the odds of a jumbo rate cut fell after retail sales surprised to the upside. AdvertisementStrong retail sales suggest that the Fed does not necessarily have to hurry with larger cuts, as the consumer economy appears intact for now.
Persons: , LPL, Jeffrey Roach Organizations: Service, Federal Reserve, bitcoin, Treasury
Becker, Minnesota CNN —The smokestacks on the aging Sherco coal power plant tower over gleaming solar panels that stretch across thousands of acres of farmland. The polluting coal plant is on its way out, scheduled for retirement in the next five years. Experts say this is the secret to solving America’s clean energy dilemma: There is more electricity from clean energy waiting to get connected to the grid than the entire amount of energy currently on the grid. A view of Sherco power plant, which has been operating since the 1970s and is slated for full retirement by 2030. But the reality is, it’s there.”From super-polluters to clean energy juggernautsThe answer to supercharging clean energy could lie inside some of the most polluting power plants in the US.
Persons: Becker, Julian Quinones, CNN Xcel Energy's Ryan Long, Evelio Contreras, , Ryan Long, Xcel, Umed Paliwal, Rob Gramlich, , ” Gramlich, Sherco, Bill Weir, Sonia Aggarwal, that’s, ” Long, we’ll, ” Julian Quinones, Pete Wyckoff, ” Wyckoff, ” It’s, Tim Walz, ” Wykoff, “ We’re Organizations: Minnesota CNN, CNN, University of California, UC Berkeley, Disney, Energy, Xcel Energy, Minnesota Commerce, Democratic Locations: Minnesota, Upper Midwest, University, University of California Berkeley, Berkeley, White, Illinois, Virginia, Becker , Minnesota
I was an immigrant child, and growing up in the UK in an Albanian family wasn't easy. It's ironic, given that I now run two fitness businesses and my main passion is getting women into strength training. I now run two fitness businesses that combined made over $70 million last year. What strength training does for your mind and body is profound; it's so empowering. It was good for SEO but contradicted our message and ethos, which is that strength training is about more than just how your body looks.
Persons: , Krissy Cela, — I'd, Jack Bullimore, I've, David, Lukas Kurzmann, I'd, We've, Oner, I'm Organizations: Service, Business Locations: London, LA, Albania, Greece, PE
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBitcoin retreats to $57,000 after weekend rally: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Crypto World's Tanaya Macheel speaks with stakeholders in Wyoming as the state develops its own stable token. She finds out how it would work and how it will handle reserves.
Persons: explainers, Crypto, Tanaya Macheel Organizations: CNBC Crypto, CNBC Locations: Wyoming
Read previewTodd, a 53-year-old IT professional based in Nashville, had a long journey to a six-figure salary. However, for many Americans, reaching a six-figure income could still have a significant impact on their lives. Todd shared how he's turned his six-figure salary into a $1 million net worth — and why he plans to extend his working years longer than he might need to. When Todd landed a six-figure income — and his financial circumstances began to change significantly — he didn't go on a spending spree. He hopes to pay off his mortgage before age 60 — his goal retirement age.
Persons: , Todd, he'd, I'm, doesn't, he's, I've, Roth Organizations: Service, Business, Cisco, BI, New, Fed, American Express Locations: Nashville
Evercore ISI lowered its price target on Alphabet to $200 from $225 , citing antitrust worried. Analyst Atif Malik's $130 price target, up from $119, implies that the stock could rally 17% from here. The firm upgraded the software giant to a buy rating and hiked its price target to $210 from $155. The investing firm downgraded the online bank to neutral from buy and removed its $44 price target. — Lisa Kailai Han 5:49 a.m.: Evercore ISI trims Alphabet price target Alphabet's antitrust issues will limit upside going forward, according to Evercore ISI.
Persons: Atif, Malik, — Lisa Kailai Han, Ben Reitzes, Reitzes, BTIG, Vincent Caintic, Caintic, Lisa Kailai Han, KeyBanc, Justin Patterson, Patterson, GE Vernova, Julian Mitchell nodded, Mitchell, Mark Mahaney, Mahaney, Fred Imbert Organizations: CNBC, ISI, Barclays, GE Vernova, Citi, Oracle Melius Research, Oracle, Ally, Spotify, TAM, GE, General Electric, Electric Utilities, DOJ, Google, Microsoft, TAC Locations: Friday's, MI, United States, U.S
The Winklevoss twins, Coinbase and Ripple didn't immediately respond to requests for comment. Huge jump from 2020Delmore, who has been assembling reports on crypto donations in the 2024 election for blockchain analytics platform Breadcrumbs, told CNBC that industry spending is nearly double where it was in the mid-terms — more than $190 million in the 2024 election versus $98 million in the 2022 election. It's nearly 13 times spending in 2020 of $15 million — a figure based on a mix of data from FEC and OpenSecrets filings. Unlike the past two election cycles, which featured spending from the now-bankrupt crypto exchange FTX and founder Sam Bankman-Fried, this year's contributor list is more robust and diverse. "Most of the crypto donations in 2022 were from FTX and SBF and almost all of them went to Democrats or PACs that support Democrats," Delmore said.
Persons: Tyler Winklevoss, Cameron Winklevoss, Joe Raedle, Cameron, James Delmore, Donald Trump, Chris Larsen, Brad Garlinghouse, Ro Khanna, John Deaton, Democratic Sen, Elizabeth Warren, Stuart Alderoty, Alderoty, Ripple, David Sacks, Trump, Gary Gensler, Gensler, Harris, Biden, Delmore, It's, Sam Bankman, Fried, Andreessen Horowitz, Coinbase, Coinbase's Organizations: Gemini, Mana Convention, Getty, CNBC, Trump, Republican, Trump America PAC, Fairshake PAC, Labs, Democratic, SEC, San, FEC, Citizen, Fairshake, Bloomberg, Crypto Alliance, DC Locations: Wynwood, Miami , Florida, bitcoin, Massachusetts, San Francisco, FTX
Rollovers from a workplace retirement plan to an IRA are common after reaching certain milestones like changing jobs or retiring. watch nowAbout two-thirds of rollover investors hold cash unintentionally: 68% don't realize how their assets are invested, compared to 35% who prefer a cash-like investment, according to Vanguard. The asset manager surveyed 556 investors who completed a rollover to a Vanguard IRA in 2023 and left those assets in a money market fund through June 2024. "IRA cash is a billion-dollar blind spot," Andy Reed, head of investor behavior research at Vanguard, said in the analysis. 'It always turns into cash'The retirement system itself likely contributes to this blind spot, retirement experts said.
Persons: Sergio Mendoza Hochmann, Andy Reed, Stocks, Philip Chao, Grace Cary, they're, Chao Organizations: Vanguard, Vanguard IRA, Finance, Security Locations: John , Maryland
Now, with 50 days until the presidential election, the Republican nominee says he would be launching World Liberty Financial in a Twitter Spaces event that began shortly after 8 p.m. CNBC sent detailed questions to a World Liberty Financial press email address on Monday. He's also part of the small group of World Liberty Financial founders, according to an internal report on the project obtained by CoinDesk. Along with Trump, Witkoff is one of at least a half dozen members of the project's "leadership team." CNBC reached out to World Liberty Financial, the Trump campaign, and the Trump Organization to ask for details related to the project and did not immediately hear back to this request.
Persons: Donald Trump, Kamala Harris, Donald Trump's, cryptocurrencies, Trump, Barron, He's, Gary Gensler, Farokh Sarmad, Steve Witkoff, Witkoff, Trump's, Donald Trump Jr, Eric Trump, Barron Trump, Zach Witkoff, Eric, Donald Jr, didn't Organizations: Democratic, U.S, Republican, Liberty, GOP, Securities and Exchange Commission, SEC, Trump, CNBC, Liberty Financial, Trump International Golf Club, FBI, World Liberty Financial, CoinDesk, Witkoff, Bloomberg, Trump Organization Locations: Philadelphia, Palm, West Palm Beach , Florida, Nashville
It's September – and that means it's prime time to think about maximizing after-tax returns as the year winds down. Of course, there may be a price to pay for that performance: Uncle Sam will want his share of taxes. Here are a few steps that could help you hold onto more of your portfolio's returns this year. Munis spin out income that's free of federal taxes, and they may be exempt from state levies if the investor resides in the issuing state. By directly giving low basis highly appreciated stock (instead of selling the position and donating cash proceeds), you avoid incurring the capital gains tax.
Persons: it's, Sam, Nathan Hoyt, Joel Dickson, Vanguard's, Dickson, James Shagawat, Roth, Shagawat, Malcolm Ethridge, , Ethridge Organizations: Nvidia, Regent Peak Wealth, Investors, Roth IRA, Treasurys, Wealth Locations: Atlanta, AdvicePeriod, Paramus , New Jersey, New York , New Jersey, California, Rockville , Maryland
But his plan had always been to retire early. At 50, he could retire early, and have plenty of time to do whatever he wanted. AdvertisementThe author wearing the diamond studs her father bought for her, which she almost never takes out. That old designer diaper bag now serves as my laptop bag, a reminder of everything I learned from my dad. I plan to slow down as I age, but I don't plan on ever retiring.
Persons: , I've, Rebekah Sanderlin, would've, hadn't, wouldn't, he'd, Christal Marshall, I'm, Jane Zhang Organizations: Service, Business, Sam's Club, Affordable, Medicare Locations: Hawaii
AdvertisementIt's a story all too familiar for some older Americans: An unexpected health crisis derails their retirement planning. With insufficient help from health insurance or Social Security, medical bills eat up any savings or income they have. Jones, who gets $2,200 a month in Social Security, has had to take on part-time work, which made her ineligible for some federal assistance. She paid for chemo out of pocket, spending her way through her retirement savings and maxing out her credit cards. Amend said it's crucial for older Americans to believe everything will be OK, noting "your mindset perpetuates what your outcome will be."
Persons: , Kimberly Mullen, Mullen, She's, she'll, Nancy Altman, Saul Martinez, Karen Knudsen, they've, Uber, Wendy Jones, it's, she's, Jones, Teresa Ghilarducci, , Ghilarducci, Rebecca Buffum, Buffum, I'm, Andrew Whitaker, Marion, Robert Papalia, Papalia, Leonard Bianconi, Bianconi, Gallup, Monique Morrissey, haven't, Harris, Morrissey, Frank, Weeks, he's Organizations: Service, Business, Social Security, American Cancer Society, Social, Walmart, Medicare, New School for Social Research, Schwartz, for Economic, Kaiser Family Foundation, BI, Institute, Biden, American Heart Association Locations: Kentucky, North Carolina
Keep reading to learn everything you need to know about how to watch Canelo vs. Berlanga from anywhere. How to watch Canelo vs. Berlanga in the US & CanadaCanelo vs. Berlanga will be available on DAZN in the US and Canada. Check price at DAZNHow to watch Canelo vs. Berlanga in the UKIt's a similar, albeit much cheaper story for viewers in the UK. How to watch Canelo vs. Berlanga anywhereCanelo vs. Berlanga will be available in almost all DAZN-supported regions, so there's a pretty good chance you'll be able to tune in no matter what. The Canelo vs. Berlanga card will be held at the T-Mobile Arena in Las Vegas, Nevada.
Persons: Canelo Alvarez, Edgar Berlanga, Dmitry Vibol, Floyd Mayweather Jr, It's, ExpressVPN, Berlanga, Erislandy Lara, Danny Garcia, Caleb Plant, Trevor McCumby, Rolando Romero, Manuel Jaimes, Stephen Fulton, Carlos Castro Organizations: Business, Canada, WBC, WBA, WBO, Mobile Locations: Mexican, Canada, Las Vegas , Nevada
Why finding a job is so awful right now
  + stars: | 2024-09-15 | by ( Tim Paradis | ) www.businessinsider.com   time to read: +9 min
I'm still unemployed," Jolles told Business Insider. AdvertisementIn any case, Jolles, who describes himself as an "older" tech worker, felt depleted by the job search in California. Averett believed the position wasn't a good fit for her, but she also knew from her experience in HR how tough a job search could be. As someone who works in HR, she gets what it's like to be inundated with applications from job seekers like her. Given how fruitless his job search has been, Cash plans to soon give it up.
Persons: , David Jolles, I'm, Jolles, It's, Nick Bunker, Bunker, Jason Henninger, Heller, bupkis, Jenitta Averett, Averett, she's, — Averett, it's, Kevin Cash, he'd, Cash, Uber, he's, I've, Kevin Cash Ben Boxer Cash's Organizations: Service, Business, UPS, LinkedIn, Navy Locations: Silicon Valley, It's, Atlanta, America, Georgia, California, Covid, Hampton , Virginia, Portland , Oregon
My mom is a little old-fashioned and has been upset with me for letting my boyfriend significantly influence my financial decisions. She has said multiple times that a man should have no say in my finances until he's put a ring on my finger. One, your mom has hard-won life experiences to offer, and you would be wise to hear her out. Only that we shouldn't reject our parents' advice out of hand simply because they're "old-fashioned" or we think they're "projecting". Instead, it's about nobody having a say over anyone else's finances until they have a genuine stake in them.
Persons: We're, he's, I've, they've, That's Organizations: Service
Where to watch Tulsa King in the USNew episodes of Tulsa King are available on Paramount+ in the US. It costs $12 a month or $120 a year Check price at ParamountWhere to watch Tulsa King in the UKNew episodes of Tulsa King will also stream on Paramount+ in the UK. Where to watch Tulsa King in AustraliaIt's a similar story in Australia, where Tulsa King will also stream on Paramount+. Where to watch Tulsa King in New ZealandTulsa King Season 2 should air on TVNZ+ in New Zealand. Tulsa King Season 2 trailerParamount+ released a trailer for the new season in mid-August, showcasing just what The General has been up to since the Season 1 finale.
Persons: Tulsa King, Sylvester Stallone, Dwight, Manfredi, Andrea Savage, Martin Star, Jay Will, Taylor Sheridan, you'll, ExpressVPN Organizations: Business, Tulsa, Tulsa King, Yellowstone, CBS, Paramount, Showtime, Paramount Plus, Nickelodeon, Comedy Central, BET, MTV, New Zealand Tulsa King, TVNZ Locations: Tulsa , Oklahoma, Kingstown, Yellowstone, Tulsa, Australia, New Zealand
As the Fed lowers its benchmark rate, mortgage rates are likely to go down. Mortgage rates often trend up or down ahead of expected Fed moves, but once a hike or cut is priced in, they tend to hold steady unless the Fed surprises everyone. Haymore also notes that mortgage rates could fluctuate depending on other information that comes out of this upcoming meeting. As it does, mortgage rates should trend down, too (as will the rates banks pay on high-yield savings accounts). If you got your mortgage more recently, you could save on your mortgage payment by refinancing.
Persons: , Freddie Mac, Scott Haymore, Haymore, you've, Matt Baker, Baker Organizations: Service, Business, Fed, TD Bank, Mortgage Bankers Association, Navy Federal Credit Union
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