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☆ Trump's Atlanta booking on RICO charges show why we need perp-walkable cities
▼ + stars: | 2023-08-23 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +10 min

Trump's booking and arraignment in Atlanta will take weeks, which is way too long. In Atlanta, where the Fulton County district attorney charged Trump with an array of crimes for trying to overturn Georgia's 2020 election results, that same process is expected to take several weeks. It's 'lightning speed' for AtlantaTrump has said he'll go to Atlanta on Thursday where he'll be booked at the Fulton County jail, known locally as Rice Street, on 13 charges ranging from RICO — a racketeering charge — to illegally pressuring public officials. Fulton County Sheriffs install barricades outside the Fulton County Jail, making it even less walkable. AdvertisementAdvertisementYes, the district attorney's office, county court, and federal court are all nearby each other in downtown Atlanta.

Persons: Donald Trump, Trump, Georgia's, he'll, —, Patrick Labat, Fani Willis, J.Tom Morgan, Morgan, Willis, Brendan McDermid, hasn't, arraignments, Ronald L, Carlson, Steve Buscemi, counterprotests, Jean Carroll, Ed Sheeran, Jeffrey Epstein, CHANDAN KHANNA, there's Organizations: Atlanta, Service, Trump, Atlanta Trump, Rice, Superior, Western Carolina University ., DA, Former U.S, Manhattan Criminal, REUTERS, Manhattan, New York Police Department, University of Georgia School of Law, Metropolitan Museum of Art, Trump Tower, Google, Fulton County Superior, Fulton County Sheriffs, Getty Locations: Atlanta, York, Wall, Silicon, Manhattan, Fulton County, New York, Fulton, DeKalb County, New York City, walkable, . Manhattan, America, Fulton County Superior Court, Fulton County's, Brooklyn

☆ Stock futures are little changed as investors look ahead to next batch of corporate earnings: Live updates
▼ + stars: | 2023-08-22 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Stock futures are near flat Tuesday night as investors awaited on the latest crop of corporate earnings reports from well-known names including Nvidia . S&P 500 and Nasdaq 100 futures also each climbed 0.1%. The moves follow a mixed session on Wall Street. The S&P 500 and Dow slid around 0.3% and 0.5%, respectively. Of the more than 95% of S&P 500 companies that have delivered results, about four out of five have exceeded Wall Street expectations.

Persons: Foot, Kohl's, Fitch, Snowflake, Dow, Macy's, Lowe's, Rob Haworth, They'll, Jerome Powell Organizations: New York Stock Exchange, Stock, Nvidia, Dow Jones Industrial, Nasdaq, Urban Outfitters, Retail, Abercrombie, Dick's Sporting Goods, U.S . Bank Locations: what's, Jackson Hole , Wyoming

☆ What to Know About China’s Real Estate Crisis
▼ + stars: | 2023-08-21 | by ( J. Edward Moreno | More About J. Edward Moreno | ) www.nytimes.com time to read: +1 min

Tremors in China’s real estate market are shaking the country’s economy, as well as the world, which has come to rely on China as a reliable engine of growth. A long-running building boom that propelled China’s growth has come to a halt, threatening the jobs and savings of millions of households. Here’s what you need to know:What’s going on with real estate and China’s economy? For decades, China’s economy was dependent on a booming real estate sector fueled by population growth. The housing market created jobs and served as a place to store wealth for China’s growing middle class.

Locations: China

☆ The top 20 areas real-estate investors are piling into for high population growth, increasing rental demand, or price appreciation, according to a property-data firm
▼ + stars: | 2023-08-20 | by ( Laila Maidan | ) www.businessinsider.com time to read: +5 min

When it comes to single-family homes, it's predominantly investors, according to recent data from CoreLogic, a property-data firm that tracks real-estate transactions. But whether they are small or large investors, they are targeting specific areas, according to the data. "All the others make sense as these have been hot real estate investment areas that have been hot for a very long time in terms of investment. Small investors are active all around the country and make up most of the investors, he said. The below table is based on CoreLogic public records data for single-family transactions.

Persons: Thomas Malone, Goldman Sachs, who's, Malone, upticks, There's Organizations: CoreLogic, Investor, Mega, McAllen, El, San Bernardino -, Thousand Oaks, Beaumont, UT, KS Locations: CoreLogic, California, Jose, Sunnyvale, Santa Clara, CA, Angeles, Long, Anaheim, Edinburg, Mission, Brownsville, Harlingen , TX, Atlanta, Sandy Springs, Roswell, Francisco, Oakland, Hayward , CA, El Paso , TX, Diego, Carlsbad, Fresno, Modesto, Riverside, San Bernardino, San Bernardino - Ontario, Oxnard, Ventura, Santa Rosa, Stockton, Lodi , CA, Albuquerque, NM, Port Arthur, TX, Memphis, TN, Salt Lake City, Christi , TX, Wichita

☆ A man who 'hopes he runs out of money' before he dies explains why you may not need as much cash to retire as you think
▼ + stars: | 2023-08-20 | by ( Liz Knueven | Stephanie Hallett | Personal Finance Reporter | ) www.businessinsider.com time to read: +6 min

Bill Perkins wants to spend every penny before he dies, he explains in his book "Die With Zero." He thinks most people are saving too much for retirement, given that a lot of it goes unused. Instead of leaving a large inheritance, he'd rather use his money on experiences, helping his children while they're starting out, and spending the money on his needs. While some people did use up their money, many retirees actually see their net worth increase with time. "Retirees with less than $200,000 saved up for retirement ... had spent down only one quarter of their assets 18 years after retirement."

Persons: Bill Perkins, Perkins, doesn't, Get, it's, overspending Organizations: Service, Federal, Board, Medicare Locations: Wall, Silicon

☆ Asking prices for UK homes drop sharply - Rightmove
▼ + stars: | 2023-08-20 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Toby Melville/File photo Acquire Licensing RightsLONDON, Aug 21 (Reuters) - Asking prices for homes in Britain fell sharply this month as rising mortgage costs caused sellers to lower their expectations of what they can get for their properties, an industry survey showed on Monday. Website Rightmove said average asking prices for homes dropped by 1.9%, the biggest monthly fall for August since 2018 and twice as steep as the usual summertime fall. Mortgage lenders Nationwide and Halifax both previously reported falls in selling prices in July. Rightmove's survey also showed the number of home sales was down 15% compared with 2019, before the pandemic. Average asking prices for homes were 2% below their peak in May but, reflecting the surge in demand during the pandemic, remained 19% higher than in August 2019, Rightmove said.

Persons: Toby Melville, Rightmove, William Schomberg, Suban Abdulla Organizations: REUTERS, Bank of England, Nationwide, Halifax, Homes, Thomson Locations: Bristol, Britain

☆ Consumers have spent all of their excess savings from the pandemic. That's just one reason why stocks are poised to fall, JPMorgan says
▼ + stars: | 2023-08-19 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

US consumers have spent all of their excess savings from the pandemic, according to JPMorgan. The bank highlighted the softening of the consumer as one reason why stocks are poised to continue their decline. In a Thursday note, he said consumers have spent down the entirety of their excess savings from the pandemic, which at one point totaled more than $2 trillion. A softening consumer is just one reason why he is preaching continued caution towards the stock market amid its 5% decline, according to the note. Another headwind for the stock market is the fact that rich valuations make buybacks less attractive for companies when they're funded by debt, he added.

Persons: JPMorgan's Marko Kolanovic, Kolanovic Organizations: JPMorgan, Service Locations: Wall, Silicon, China, Germany

☆ Mess at Chef's Table: How claims of theft, embezzlement, and abuse shut down Brooklyn Fare's legendary Michelin-starred restaurant
▼ + stars: | 2023-08-18 | by ( Anna Silman | ) www.businessinsider.com time to read: +25 min

Chef's Table at Brooklyn Fare, the iconic three-Michelin-star tasting restaurant by chef César Ramirez, quietly ceased operations in July. Chef's Table at Brooklyn Fare is one of New York's most hallowed culinary institutions. A former employee at Chef's Table at Brooklyn FareBut beneath the restaurant's pristine stainless-steel surface, chaos was brewing. By 2011, Chef's Table had become one of only 138 restaurants worldwide to boast three Michelin stars. This year, Chef's Table at Brooklyn Fare was the highest-ranked US restaurant on the 2023 World's 50 Best Restaurants' list.

Persons: César Ramirez, hasn't, Ramirez, Moneer, Moe, Issa, I'd, Ramirez's, Conti, David Bouley's, Le Bernardin, Per, Chef César Ramirez, Jamie McCarthy, WireImage, Joshua David Stein, Grub, Ramirez freaked, he'd, didn't, Pete Wells, Issa didn't, Adriana, Issa's, Heidi, —, Domaine, disrespected, Spencer Platt, Cesar, Issa wouldn't, commenter Organizations: Brooklyn, Brooklyn Fare, Manhattan Fare Corp, Chef's, Pepsi, GQ, Michelin, Madison, New York Press, Guardian, Staff, New York Times, York, Madison Park Locations: Hokkaido, Los Angeles, New York, Brooklyn, Burgundy, Israeli, Hill, Mexican, Chicago, West, Madison, Masa, Kaluga Queen, Russia, Asia, Kings County, Clinton Hill, Taiwan, York

☆ Evergrande’s bankruptcy may be just the beginning of China’s real estate crisis
▼ + stars: | 2023-08-18 | by ( Allison Morrow | ) edition.cnn.com time to read: +4 min

New York CNN —Evergrande’s US bankruptcy serves as a cautionary tale about the growth-at-all-costs model that underpinned China’s spectacular growth over the past 30 years. For decades, Evergrande, once one of China’s most successful real estate developers, gobbled up debt as China’s economy exploded. A wave of defaults followed, and China’s vast real estate market has yet to recover. Evergrande's decline has become a cautionary tale about the breakneck growth that defined China's economy for three decades. China’s economy is strugglingIt’s hard to overstate the importance of the property market China.

Persons: Evergrande, Xi Jinping, ” Organizations: New, New York CNN, Getty Locations: New York, AFP, China, Beijing

☆ A financially independent real-estate investor who had to get creative to afford her first property shares 3 strategies rookie investors can use to get started on a tight budget
▼ + stars: | 2023-08-18 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +7 min

Look into private lending, which is how she started, and subject-to financing, she advises. Private lendingThis is exactly how McIntyre financed her first property: She obtained a private loan, rather than going through a traditional mortgage lender. We worked out a private loan and he didn't need to verify my income or anything. Subject-to financingWith subject-to financing, the buyer takes over the existing financing. You don't actually assume the mortgage — it remains in the seller's name with the same terms — but you'll make mortgage payments on behalf of the seller.

Persons: Zeona McIntyre couldn't, McIntyre, I'd, Zeona McIntyre, Zeona, she's, you'll, I've Locations: Colorado, Boulder

☆ Goldman Sachs: 20 Cities With Highest and Lowest Home-Price Growth
▼ + stars: | 2023-08-17 | by ( Laila Maidan | ) www.businessinsider.com time to read: +2 min

Goldman Sachs says determined home buyers aren't being deterred by higher interest rates. Strategists at Goldman Sachs no longer expect home prices to drop for the full year 2023. Homeowners who are locked into lower rates aren't likely to give that up in exchange for new property. Housing affordability has returned to its historic 2007 lows, according to Goldman Sachs' Housing Affordability Index. This means smaller, more affordable homes are increasing demand, leading to higher price growth in that part of the housing market.

Persons: Goldman Sachs, Roger Ashworth, Goldman Locations: Charlotte, Atlanta

☆ Troops deployed to guard Pakistani Christians after mob torches churches
▼ + stars: | 2023-08-17 | by ( Mubasher Bukhari | ) www.reuters.com time to read: +2 min

The rioters were demanding that the two accused, who had fled their homes, be handed over to them. The residents said thousands of Muslims led by local clerics were carrying iron rods, sticks, knives and daggers during the rioting. A provincial government statement said paramilitary troops were deployed to aid the police to control the situation. The troops have cordoned off the Christian colony, blocking all entry and exit points with barbed wire, according to a Reuters TV cameraman. The United States was "deeply concerned that churches and homes were targeted," State Department Deputy Spokesperson Vedant Patel said on Wednesday.

Persons: Vedant Patel, Asif Shahzad, Raju Gopalakrishnan Organizations: Police, Reuters, State Department, Thomson Locations: LAHORE, Pakistan, desecrating, Jaranwala, Faisalabad, United States

☆ Mild recession ends Dutch economy's strong post-COVID boom
▼ + stars: | 2023-08-17 | by ( ) www.reuters.com time to read: +2 min

People walk past restaurants and bars following the new social restrictions announced by the Dutch government, as the Netherlands battle to control the spread of the coronavirus disease (COVID-19), in Amsterdam, Netherlands October 14 2020. Growth is set to drop to 0.7% in 2023 and 1.4% in 2024, the CPB said, after hitting almost 5% per year in 2021 and 2022 during a strong recovery from the pandemic lockdowns. The CPB in March had predicted an expansion of 1.6% in 2023 and 1.4% the year after. With unchanged policies the government deficit is seen rising from 2.4% of gross domestic product (GDP) to almost 4% by 2028. Reporting by Bart Meijer; Editing by Jacqueline Wong and Toby ChopraOur Standards: The Thomson Reuters Trust Principles.

Persons: de, Bart Meijer, Jacqueline Wong, Toby Chopra Organizations: REUTERS, Rights, Thomson Locations: Netherlands, Amsterdam

☆ America's wealthiest 10% are responsible for 40% of its climate-crisis-causing emissions. Tax them, researchers say.
▼ + stars: | 2023-08-17 | by ( Morgan Mcfall-Johnsen | Marianne Guenot | ) www.businessinsider.com time to read: +6 min

The richest 10% of Americans' income has generated 40% of US carbon emissions, a new study found. Tax shareholders rather than focusing on consumers, the study authors argue. How much carbon emissions are produced in the supply chain to create the earnings of each income group, pre-tax. Not only was the top 10% earners' income generating over 40% of emissions, but the income of the top 1% was responsible for 15%-17% of emissions, they found. In the US, multiple proposals for a carbon tax have been introduced in Congress.

Persons: Peter Unger, Patrick T, Fallon, Jared Starr, Starr, Carlo Allegri, That's Organizations: Investments, Service, Getty Images, Getty, University of Massachusetts Amherst, International Monetary Fund Locations: Manhattan

☆ I do think the government will shut down between now and early 2024: Punchbowl's Jake Sherman
▼ + stars: | 2023-08-17 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailI do think the government will shut down between now and early 2024: Punchbowl's Jake ShermanJake Sherman, Punchbowl News founder, joins 'Squawk Box' to discuss the fight on Capitol Hill to avert a government shutdown at the end of September, after reports of House Leader Kevin McCarthy and Senate Majority Leader Chuck Schumer discussing the idea of a months-long funding package, the state of the 2024 presidential race, and more.

Persons: Jake Sherman Jake Sherman, Kevin McCarthy, Chuck Schumer Organizations: Punchbowl News, Capitol

The rioters were demanding that the two accused men, who had fled their homes, be handed over to them. The troops have cordoned off the Christian colony, blocking all entry and exit points with barbed wire, according to a Reuters TV cameraman. Hundreds of Christians took refuge in a nearby district, a community leader Akmal Bhatti told Reuters, adding that four pastors had returned to the churches, which were still smouldering. "It is the government's responsibility to compensate for the loss of property of the Christian community," he told reporters, adding the government was estimating the losses. The United States was "deeply concerned that churches and homes were targeted," State Department Deputy Spokesperson Vedant Patel said on Wednesday.

Persons: Christian, Akmal Bhatti, Bhatti, Mohsi Naqvi, Vedant Patel, Asif Shahzad, Raju Gopalakrishnan, Simon Cameron, Moore, Alexandra Hudson Organizations: Police, Reuters, Amnesty, State Department, Alexandra Hudson Our, Thomson Locations: LAHORE, Pakistan, Jaranwala, Faisalabad, United States, Islamabad

☆ Here's why Americans can't stop living paycheck to paycheck
▼ + stars: | 2023-08-17 | by ( Juhohn Lee | ) www.cnbc.com time to read: +2 min

For many Americans, payday can't come soon enough. As of June, 61% of adults are living paycheck to paycheck, according to a LendingClub report. In other words, they rely on those regular paychecks to meet essential living expenses, with little to no money left over. Almost three-quarters, 72%, of Americans say they aren't financially secure given their current financial standing, and more than a quarter said they will likely never be financially secure, according to a survey by Bankrate. That amount already accounts for about 61% of the median take-home pay.

Persons: Ida Rademacher, there's, Kamila Elliott Organizations: Aspen Institute, Principal Financial, Institute, Finance, U.S . Bureau of Labor Statistics, for Community, Economic Research, Wealth Partners, CNBC's Locations: U.S, Atlanta

☆ Mortgage Rates Jumped to the Highest Level Since 2002
▼ + stars: | 2023-08-17 | by ( Matthew Cullen | ) www.nytimes.com time to read: 1 min

The most popular type of home loan in the U.S. — a 30-year fixed-rate mortgage — jumped above 7 percent this week, reaching its highest point in 21 years. Less than two years ago, mortgage rates were under 3 percent. The increasing borrowing cost has made it harder for buyers to afford homes in an already difficult market. Making matters worse, the supply of houses is low — because many homeowners are unwilling to put their homes on the market and give up their existing low mortgage rates. But despite the slight shrinkage, the price per square foot nearly doubled during that period, far outpacing inflation, to about $168 per square foot.

Locations: U.S, —

☆ 63% of divorcees say this is the No. 1 thing that would have saved their marriage—and it's not more money
▼ + stars: | 2023-08-17 | by ( Aditi Shrikant | ) www.cnbc.com time to read: +1 min

But, almost all of those surveyed believe their union could have been saved by one factor or another. In fact, only 5% of respondents said they don't think anything could have fixed their partnership. More than half, 56%, of respondents said a better understanding of the values and morals of their partner might have helped them avoid divorce. And 44% said waiting to start a family might have saved their marriage. 1 best piece of advice for regular investors, do's and don'ts, and three key investing principles into a clear and simple guidebook.

Persons: Warren Buffett Organizations: Forbes

☆ What Is a Roth IRA and How Does It Work?
▼ + stars: | 2023-08-16 | by ( Tanza Loudenback | ) www.wsj.com time to read: +13 min

How does a Roth IRA work? “A Roth IRA offers investors a lot of flexibility which, in my opinion, is its biggest benefit,” says Eric Presogna, a financial planner in Erie, Pa.How is a Roth IRA different from a traditional IRA and from a 401(k)? The annual limits apply to traditional and Roth IRAs, in aggregate—meaning you can’t add more than the allowed amount to your traditional and Roth IRAs combined. High-income workers can use the “backdoor Roth” strategy to get money into a Roth IRA. How to fund a Roth IRAA Roth IRA typically needs to be funded before you can start choosing investments.

Persons: Roth, “ Roth, ”, David Edmisten, Internal Revenue Service doesn’t, you’re, Roth IRAs, we’ll, “, Eric Presogna, Nick Cantrell, don’t, posttax Roth, Cantrell, Zach Teutsch, brokerages, IRA —, ” Teutsch Organizations: IRA, Internal Revenue Service, Roth IRA, Washington , D.C, Fidelity, Vanguard, IRS, Financial Locations: Prescott, Ariz, Erie, Pa, Massachusetts, Washington ,

"We now forecast a mild recession in the U.S. economy this year ... In May and June, the Fed staff projections "continued to assume" the U.S. economy would be in recession by the end of the year. Fed policymakers' projections, which are issued on a quarterly basis, never showed GDP contracting on an annual basis. 'CHUGGING ALONG'What made the difference between an in-the-moment recession that many thought was underway last year to growth that has surprised to the upside? An Atlanta Fed GDP "nowcast" puts output growth for the current July-September period at 5.0%, showing continued strong momentum.

Persons: Biden, Michael Gapen, Gapen, Jerome Powell, Powell, Sharif, We've, Sal Guatieri, Howard Schneider, Paul Simao Organizations: Federal, Bank of America, Fed, Reuters, Valley Bank, Atlanta Fed, BMO Capital Markets, Thomson Locations: U.S, California

☆ TikTok influencers want to rent you a very cool home. Just don't call them landlords.
▼ + stars: | 2023-08-16 | by ( James Rodriguez | ) www.businessinsider.com time to read: +15 min

While live-in landlords are far from a novel concept, the pandemic-era fever around passive income and real-estate investing has sparked a rise in the popularity of house hacking. While Turner's initial strategy emphasized small multifamily buildings, some house hackers applied the concept to single-family homes. In 2019, he published a book called "The House Hacking Strategy: How to Use Your Home to Achieve Financial Freedom." And I think house hacking is one obvious way to eliminate, or at least drastically reduce, what likely is your largest expense." "Yeah, it's called 'house hacking," the owner and roommate, also played by Jarman, who has 4 million followers, replies.

Persons: Kelly Clark, Clark, scoffed, TikTok, Zers, Brandon Turner, Turner, Ryan Lehman, Lehman, Brandon, I'm, Craig Curelop, BiggerPockets who's, Curelop, influencer Addison Jarman, renter, it's, Jarman, Jay Parsons, John Liang, TikToker, Liang, —, It's, doesn't, Insider's Daniel Geiger, she'd, James Rodriguez Organizations: Federal Housing Administration, BiggerPockets, Census, YouTube, RealPage Locations: Spokane , Washington, Silicon, millennials, Seattle, Spokane

☆ An $11 trillion wealth wipeout has set the world back for the first time since 2008, thanks to a trifecta of high inflation, interest rates, and currency declines
▼ + stars: | 2023-08-16 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +2 min

That's thanks to a trifecta of inflation, rising interest rates, and currency depreciation against the US dollar. But inflation, rising interest rates and currency depreciation caused a reversal in 2022," UBS analysts wrote in a note. That's sparked an aggressive policy reaction from central banks, which have hiked interest rates sharply over the past year. Higher inflation and interest rates tend to chip away at consumer spending power, eating away at individual savings and wealth. According to UBS, local currency depreciation against the greenback also played a big role in eroding global wealth.

Persons: That's Organizations: UBS, Service, Federal, greenback, Fed Locations: Wall, Silicon, Europe, North America, Asia, Pacific, Ukraine

☆ Falling markets sank global wealth in 2022, leaving the world with 3.5 million fewer millionaires
▼ + stars: | 2023-08-16 | by ( Allison Morrow | ) edition.cnn.com time to read: +3 min

Here’s the deal: The grand total of all the private wealth in the world fell 2.4% to $454.4 trillion, according to the annual Credit Suisse and UBS global wealth report. Meanwhile, global median wealth, a more meaningful indicator of how the typical person is faring, actually rose 3% in 2022. The top 1% of households still hold a staggering 44.5% of all global wealth. “The global economy is experiencing a period of astonishing economic alteration,” wrote Paul Donovan Chief Economist at UBS Global Wealth Management, in the report. Another silver lining: According to Credit Suisse projections, global wealth will rise 38% over the next five years, reaching $629 trillion by 2027.

Persons: CNN Business ’, Joe, ”, Paul Donovan, you’ll Organizations: CNN Business, New York CNN, Credit Suisse, UBS, UBS Global Wealth Management, Suisse Locations: New York, United States, China

The two Christians were accused of blasphemy, he said, adding they and family members had fled their homes. Blasphemy is punishable by death in Pakistan and though no one has ever been executed for it, numerous accused people have been lynched by outraged crowds. A Christian leader, Akmal Bhatti, said the crowd had "torched" at least five churches and looted valuables from houses that had been abandoned by their owners. Several social media posts showed some churches, houses and belongings on fire as police stood by. The mob was made up of thousands of people led by local clerics, mainly from an Islamist political party called Tehreek-e-Labaik Pakistan (TLP), a government source said.

Persons: Naveed Ahmad, Shakil Masih, Usman Anwar, Anwar ul Haq Kakar, Akmal Bhatti, Asif Shahzad, Angus MacSwan, Nick Macfie Organizations: Reuters, REUTERS, REUTERS Acquire, Caretaker, Thomson Locations: LAHORE, Pakistan, Jaranwala, Faisalabad, Islamabad

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