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☆ Three Million U.S. Households Making Over $150,000 Are Still Renters
▼ + stars: | 2023-03-13 | by ( Will Parker | ) www.wsj.com time to read: 1 min

Lee Robbins, a 36-year-old accountant, left Indiana for central Florida five years ago in search of sun and a six-figure job. He found both in Sanford, Fla., but one thing hasn’t changed. Mr. Robbins is still a renter. With the city’s median home price up more than $100,000 during the pandemic, Mr. Robbins said he needs a few more years to save for a down payment even though he now makes six-figures. “It’s not what I envisioned, to be in a two-bedroom apartment with my son,” Mr. Robbins said.

☆ New data shows car thefts are on the rise — here's how auto insurance can help
▼ + stars: | 2023-03-12 | by ( Elizabeth Gravier | Jason Stauffer | ) www.cnbc.com time to read: +9 min

The NICB recommends drivers check to make sure their car insurance policy is up to date, but don't assume that your policy will cover your stolen car. You'll need comprehensive coverage to cover theftWith the exception of New Hampshire and Virginia, every state requires you to have a car insurance policy to drive. One of CNBC Select's top picks, Farmers Insurance, makes coverage cheaper with 22 discounts on car insurance. Take steps to prevent auto theftEven if you do have comprehensive coverage, having your car stolen isn't ideal. While you can take steps to prevent car theft, you'll need to have comprehensive coverage if you want theft to be covered.

In 2020, while working as a staff nurse at a hospital in Spartanburg, South Carolina, Aspen Tucker came across a job posting for a travel nurse. In 2020, Aspen Tucker left his staff nursing job to become a travel nurse, a move that came with a significant bump in pay. "I'm able to have a high salary as a travel nurse, but also come back to where the cost of living is low," he says. That month he split an Airbnb with his girlfriend (also a travel nurse who occasionally takes jobs at the same hospitals) in addition to paying his mortgage and utilities back home. When he's traveling work, Tucker pays friends and family to take care of his dog, Skye.

☆ 33-year-old who brought in $467,000 in 13 months renting out his boats: 3 skills you need to start a lucrative side hustle
▼ + stars: | 2023-03-08 | by ( Megan Sauer | ) www.cnbc.com time to read: +6 min

He started a chartering business called SeaEO Nautical Ventures, initially intending to just cover the boat's payments. It's like an Airbnb business: If you start renting a house without the proper permits, you're going to get fined. It takes a lot of talking to people and working with my lawyer to really understand how to be legally compliant. I've actually gotten to the point where I'm really bored. When you really understand sales, you know there's only two reasons people buy things: to fix a problem, or because they love something.

Lyft and Bilt have a new partnership that allows you to earn Bilt points whenever you make a Lyft purchase. It also offers the Bilt Mastercard®, which opens up the ability to earn Bilt Rewards points for expenses other than just rent. Lyft already partners with Delta — but you'll earn just 1 Delta mile per dollar spent with Lyft, so switching to Bilt Rewards is a no-brainer, unless you value Delta miles significantly higher than Bilt Rewards points. That means you'll get an effective return of up to 8.25% on Lyft purchases when choosing to earn Bilt Rewards. After linking your loyalty accounts, Bilt Rewards members will earn 2 points per dollar, and those with the Bilt Mastercard® will earn 5 points per dollar.

☆ Racial homeownership gap widens as Black buyers struggle to secure loans amid persistent discrimination and redlining, analysis finds
▼ + stars: | 2023-03-02 | by ( Jordan Hart | ) www.businessinsider.com time to read: +3 min

The rate of Black homeownership in the US has increased by less than one percent over the last , the National Association of Realtors found. On Tuesday, an Ohio-based bank paid millions to the Justice Department after being accused of redlining Black buyers. New scoring models by the Federal Housing Finance Agency suggest homeownership could become more accessible for Americans. While the US homeownership rate has consistently increased over the years, according to an analysis by the National Association of Realtors, the Black homeownership rate has failed to keep up. Homeowners of other racial and ethnic groups fall below the 30% mark, with just 21% of White Americans spending 30% of their income on their home.

☆ A big landlord who controls 60,000 homes is funneling money into a political action group that could urge lawmakers to curb renter protections
▼ + stars: | 2023-03-02 | by ( Alex Nicoll | ) www.businessinsider.com time to read: +5 min

Corporate owners of US rental homes are being scrutinized for making homes unaffordable. The landlords that control thousands of homes are girding for a political fight over regulation. As tenant advocates met with the White House and pushed the Biden administration to take action on high housing costs in November, one of America's largest single-family landlords was preparing its own move. AMH, formerly known as American Homes 4 Rent, did not respond to an Insider request for comment. Companies like AMH, Pretium Partners, and Invitation Homes have been building large portfolios of homes across the country since the last financial crisis.

☆ Racial homeownership gap larger now than a decade ago
▼ + stars: | 2023-03-02 | by ( Anna Bahney | ) edition.cnn.com time to read: +7 min

The homeownership rate for White Americans in 2021 was 72.7%, but the rate for Black Americans was 44%, according to NAR’s analysis of the most recent data. The homeownership rate for Asian Americans was 62.8% and for Hispanic Americans it was 50.6%. The homeownership rate for Black Americans varies from 15% to 55% across the country. The states with the highest homeownership rate for Black Americans were South Carolina at 55%, Delaware at 54%, and Mississippi at 54%. Meanwhile, the homeownership rate for White Americans ranged from 50% to 81% across the country.

It's a really bad time to buy a home with interest rates at their highest point in years. Mortgage rates are extremely highDuring the pandemic, when mortgage interest rates hit historic lows, a lot of my friends took advantage of that and became first-time homeowners. Back then, they were able to lock in 15-year mortgage rates at around 2% to 3%. But now, in 2023, mortgage interest rates are double or triple what they were just two years ago. I can find cheaper rent if I need toFinally, rent payments can fluctuate way more than mortgage payments can.

☆ I make $19,800 a month in revenue from 'Airbnb for boats' in Miami. Here's how I built my business.
▼ + stars: | 2023-03-01 | by ( Kimanzi Constable | ) www.businessinsider.com time to read: +7 min

Mylène Garot loved being on the water and wanted to start a boat-rental business in Miami. Garot used her savings to purchase a boat and started renting it on Boatsetter, an Airbnb for boats. I was Googling platforms similar to Airbnb and found Boatsetter, where boat owners can list their boats for people to rent. My husband was a boat captain and managed property — it seemed pretty perfect. The revenue was growing, but a private renter, renting outside Boatsetter, damaged one of the boats in September 2020.

☆ Tesla is losing its most loyal customers — and that’s bad news for Elon Musk.
▼ + stars: | 2023-02-28 | by ( Diamond Naga Siu | ) www.businessinsider.com time to read: +5 min

Plus, it's even more gross, since this generation obsession appears to be a capitalism-fueled strategy to get our money. They stuck with Elon Musk along a bumpy ride: "production hell," multiple federal investigations, and other catastrophes. Meanwhile, the company keeps losing its edge elsewhere. Nora breaks down how Musk keeps Elon-ing, while Tesla keeps getting beat down. It's part of the multi-day Mobile World Congress — the largest mobile telecommunications event in the world — in Barcelona, Spain.

The case for falling rentSomething strange is happening in the apartment market. More than 971,000 apartment units were under construction across the US at the end of 2022, the second-largest number on record. There's only so much people are willing to pay,'" said Jon Leckie, a researcher for Rent, a platform that helps landlords market their properties. For now, though, the wave of supply that's already underway should keep rents in check over the next couple of years. Now, as landlords shift their focus from jacking up rents to filling up units, renters can once again look ahead to better days.

☆ A 'financial disaster for millions of Americans' could arise if the Supreme Court strikes down Biden's student-loan forgiveness, Elizabeth Warren details in a new report
▼ + stars: | 2023-02-27 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +6 min

The cases that challenged Biden's debt relief are headed to the Supreme Court on Tuesday. "If the Supreme Court sides with the extremist judges, millions of Americans' monthly costs will rise significantly when student loan payments resume later this year," the report said. Still, Republican lawmakers have been adamant that canceling student debt broadly is unfair to those who already paid off their loans or did not borrow for college. Lawsuits are causing 'financial anxiety for vulnerable borrowers'Failing to implement debt relief would put a strain on younger and older borrowers alike. Now, all eyes turn to the Supreme Court, which is expected to hand down rulings in the two cases before the end of its term, typically in late June or early July.

☆ Inside California's tiny-home takeover
▼ + stars: | 2023-02-24 | by ( Kelsey Neubauer | ) www.businessinsider.com time to read: +8 min

For the state with the most dire housing shortage, the move could be a game changer — eventually. As the US grapples with a massive housing shortage, one possible solution is playing out in California right now — and the state may have struck gold. Oregon, Maine, and Nebraska, as well as cities like Miami, have enacted laws similar to California's. There's been opposition to ADUs from homeowners worried about the density of their neighborhoods and sometimes the aesthetics of the structures. Ultimately, the housing shortage could be alleviated, she said.

☆ A real-estate investor says a 'perfect storm' of problems put him $27,000 in the hole on a BRRRR project. He shares what spoiled his strategy — and how he's going to adjust when looking for future dea
▼ + stars: | 2023-02-20 | by ( William Edwards | ) www.businessinsider.com time to read: +5 min

Going forward, he said he's going to give himself more of a time cushion and focus on lighter projects. After getting the certificate of occupancy up-to-date, Suazo had to find a contractor to complete the rehab of the property. Contractors were getting super busy and essentially everything almost doubled in price," Suazo told Insider. He said going forward, he's going to invest in properties that will only require light rehab in order to minimize the risk of the project getting strung out longer than expected. "If the contractor tells you it's going to take three months, you should be prepared for it to take 4-6 months.

☆ 15 million renters pay more for housing than they can afford. Here's how to figure out if you're one of them
▼ + stars: | 2023-02-19 | by ( Annie Nova | ) www.cnbc.com time to read: +1 min

Yet, when it comes to the long-held advice for renters to not spend more than 30% of their income on housing, the target is increasingly impossible to even try to reach, experts say. More often, Hummel said, tenants spend 40% of their income, or more, on housing. There are major consequences to taking on a rent that eats up too much of your income, Hummel said. "Spending more on rent means less money for savings, retirement, family goals and less to pay for other debt obligations," he said. Housing is the single biggest financial area where people get trapped, according to personal finance blogger and author Ramit Sethi.

☆ Would you rather have 3 roommates or 4 jobs? What it takes to afford rent on minimum wage
▼ + stars: | 2023-02-09 | by ( Kamaron Mcnair | ) www.cnbc.com time to read: +2 min

Given the federal minimum wage sits at $7.25 and hasn't risen since 2009, it's increasingly difficult for minimum wage earners to afford rent. In fact, it would take four full-time minimum wage workers to reasonably afford a two-bedroom apartment, according to new Zillow research. The real estate company gathered minimum wage and rent data in the 50 largest U.S. cities to see what it takes to make rent on some of the lowest legal salaries. It concluded that a renter earing minimum wage has two options: find three roommates (and assign two people per bedroom) or work four full-time jobs on their own to keep their housing costs below the recommended 30% of their income. Even in places like San Francisco where the $16.99 minimum wage is more than double the federal wage, sky-high rents leave workers without a lot of comfortable options — you'd still need wages from three full-time jobs to afford a two-bedroom there.

☆ WeWork cofounder Adam Neumann suggests tenants in his apartments will plunge their own clogged toilets because they'll feel like owners
▼ + stars: | 2023-02-08 | by ( Kate Duffy | ) www.businessinsider.com time to read: +2 min

Adam Neumann said renters in Flow apartments will plunge their own toilets. Neumann spoke at a conference about how Flow wants to create a sense of ownership for renters. During the conference, Neumann said the goal of Flow was to make the resident feel valued. "If you're in an apartment building and you're a renter and your toilet gets clogged, you call the super," Neumann said. Neumann said during the conference he wanted Flow apartments to provide an "elevated experience" and a "community" to tenants.

Disability Insurance Is Available at All Wage LevelsYou should opt for disability insurance if you're the sole earner in your family. Disability Insurance Can Help Parents Pay BillsWorkers with children should also consider disability insurance. Disability Insurance Is Also for Self-Employed WorkersSelf-employed workers or own small business owners may disregard the need for disability insurance. Disability Insurance Can Help with Nagging InjuriesDid you know just 14% of Americans have disability insurance? Disability insurance is one way to shield yourself financially to make wise decisions before a nagging backache becomes a permanent disability.

☆ Low-income renters are frustrated by Biden's new plan to make housing more affordable because they don't think it does enough to combat surging rents
▼ + stars: | 2023-02-04 | by ( Jason Lalljee | ) www.businessinsider.com time to read: +6 min

The White House outlined actions it's taking to protect tenants amid rising rents and evictions. Tenants' groups told Insider that they wanted decisive legal and financial action from the president. In addition to that, the White House also published a "Blueprint for a Renters Bill of Rights," endorsing fair housing practices and a tenants' right to organize. "On the one hand, we are encouraged that the White House has released this Blueprint as a statement of values," Martin said. "As a blueprint, the document's statements don't do anything to materially help improve conditions for renters," he said.

☆ I make $3,000 a month renting out my backyard as a dog park. I spend 10 minutes a day on this easy side hustle that cost me nothing to set up.
▼ + stars: | 2023-02-01 | by ( Kimanzi Constable | ) www.businessinsider.com time to read: +6 min

Rick Powell and his wife make $3,000 a month using Sniffspot to rent their yard out as a dog park. If someone has a fenced-in yard, they can list it on Sniffspot, and dog owners can rent it by the hour. The memberships start at $30 a month, and members get two hours each month. They can book four hours for $66 a month and eight hours for $120 a month. I spend two hours a month ensuring no yard waste is missed and mowing the lawn.

It's easy to earn United miles without stepping on a plane, and because they don't expire, you can use miles when you're ready to travel. There are six United credit cards to consider if you just want to earn United miles and enjoy some day-of-travel perks to boot. Review: Ink Business Preferred card reviewBilt Mastercard® 4.5 /5 A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star 4.5 out of 5 Stars Intro offer N/A Rewards Earn 3X point on dining. Earn United miles by flying United and its partnersOf course, the other main way to stock up on a lot of United MileagePlus miles is to fly United and its other airline partners. Earn United miles with other travelIn addition to just flights, you can earn United miles by booking stays with United's hotel partners, sailings through United Cruises, and entire trips through United Vacations, as well as partner car rentals.

You can get many thousands of dollars in value from Aeroplan points even if you never step foot on an Air Canada plane. Earn Aeroplan points with credit cards and points transfersThe Aeroplan® Credit Card is the only US credit card that earns Aeroplan points directly. So if you transferred 60,000 Marriott Bonvoy points, you'd end up with 20,000 Aeroplan points, plus a 5,000-point bonus for a total of 25,000 Aeroplan points. Earn Aeroplan points flying Air CanadaThe next easiest way to rack up Aeroplan points is by actually flying Air Canada, but the earning formula is going to change later this year. As far as we know, it will look like this:Basic fares: Earn 2x points per (Canadian) dollarStandard fares: Earn 3x points per (Canadian) dollarFlex/Comfort fares: Earn 3x points per (Canadian) dollarLatitude fares: Earn 3x points per (Canadian) dollarPremium economy fares: Earn 3x points per (Canadian) dollarBusiness fares: Earn 3x points per (Canadian) dollarEssentially, everything but basic economy fares will earn 3x per dollar.

☆ 12 things your Airbnb hosts wish they could tell you
▼ + stars: | 2023-01-26 | by ( Gabbi Shaw | ) www.businessinsider.com time to read: +9 min

But dealing with an Airbnb host, as opposed to a hotel concierge, can be tricky. We spoke to Airbnb hosts across the US — here are 12 things they wish they could tell all guests. Insider spoke to multiple Airbnb hosts and asked them what they wished they could tell their guests. First things first: Don't use Airbnb or similar services, like VRBO, if you don't have toMultiple Airbnb hosts told Insider they'd actually prefer leaving Airbnb out of the process altogether. Some hosts simply shouldn't be hosts — don't let that put you off Airbnb"The main reason people should get into this business is to provide exceptional service to guests.

☆ Biden administration unveils rent protections
▼ + stars: | 2023-01-25 | by ( Anna Bahney | ) edition.cnn.com time to read: +9 min

Washington, DC CNN —In response to rent payments soaring across the country in recent years, the Biden administration unveiled new actions Wednesday to protect tenants, make renting more affordable and improve fairness in the rental housing market. The agencies involved include the Federal Trade Commission, the Consumer Financial Protection Bureau, the Federal Housing Finance Agency, the Department of Housing and Urban Development and the Department of Justice. The FHFA will initiate a process to examine limits on egregious rent increases and proposals for renter protections for future investments. The administration also set out its guiding principles in its “Blueprint for a Renters Bill of Rights,” which, while not enforceable, aims to underscore protections the administration says every renter deserves. Meanwhile, others in the housing industry say that this kind of federal involvement in housing policy serves to increase housing costs.

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