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☆ 11 U.S. cities where rent is actually cheaper than it was last year
▼ + stars: | 2022-11-22 | by ( Mike Winters | ) www.cnbc.com time to read: +2 min

Rent prices in the largest U.S. markets dipped for a second consecutive month in October, to less than $2,000 for the first time since April, new data reveals. In 50 of the largest U.S. metro areas, median rent prices declined 0.9% in October, dropping from an average of $2,002 to $1,983, according to online brokerage Redfin's latest data. But there are 11 cities — up from five in September — where rent prices have defied rising inflation and are now cheaper than they were a year ago, per Redfin's data. Additionally, "persistent inflation is shrinking renter budgets," which is "causing rent growth to cool," says Redfin Deputy Chief Economist Taylor Marr. To determine median rent, Redfin analyzed the costs of newly available leases in October using Rent.com data for the 50 largest U.S. metro areas.

☆ I used a HELOC to become an Airbnb millionaire. It was risky, but the strategy paid off big time — here's how I set up this secondary income stream.
▼ + stars: | 2022-11-21 | by ( Bryce Decora | ) www.businessinsider.com time to read: +13 min

This was the beginning of a world of real estate that would change our lives foreverDeCora's Bellevue Airbnb. If the real estate market started trending downward at this time, this story may not have had such a happy endingExtending your debt to the max in real estate is the equivalent of an all-in poker move. Our three-house real estate portfolio is worth around $2.5 million and we only have $1.35 million in mortgage and HELOC debt. Once you get over the scary leap, you'll see real estate as a simple way to building a massive empire. Bryce DeCora is a former engineer turned real estate investor and a father of two.

You probably already know that most travel credit cards offer some form of rental car insurance. It's often said the Chase Sapphire Preferred is the best starter travel credit card — and primary rental car insurance is a big reason why. If you're using a business credit card that offers primary car rental insurance, you need to be renting a car for business purposes in order to receive the coverage. Whether your coverage comes from a credit card, the auto rental agency, or your personal insurance plan, you should get rental car insurance. Of all rental car insurance options, primary insurance with a credit card is the best value.

☆ If you can't afford to buy a home right now, a 'renter for life' Yale economist explains why renting forever might be the smarter option anyway
▼ + stars: | 2022-11-15 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +7 min

A Yale economist says, for some Americans, renting might be the better financial decision anyway. That's according to Yale economist James Choi, who said on a recent Freakonomics Radio podcast that he's a "renter for life." It comes as rent prices are also beginning to fall across the US. This makes it difficult to assess a home's "financial risks," Choi says. While Choi is a "renter for life," he acknowledges that for many Americans, owning a home is about more than just the investment itself.

☆ I'm a broker on 'Selling the Hamptons.' If you're looking to buy a house, now's the time to do it — before spring.
▼ + stars: | 2022-11-14 | by ( Dorothy Cucci | ) www.businessinsider.com time to read: +10 min

This as-told-to essay is based on a conversation with Bianca D'Alessio, a broker for Nest Seekers International and castmember of 'Selling the Hamptons.' Across the market, different price points are responding differently. When you're a renter, you're paying someone else's mortgage; when you own, you're paying yours. Once they've identified them, we can move forward in having a conversation of what's possible in different areas and at different price points. At different price points, different inventory types, and in different cities, we're going to feel different adjustments.

Waste water from the city sewage pipe is flowing onto the drainless floor and washing away my short-lived homeowner's honeymoon. Insider's Featured Homeowner Insurance Companies Lemonade Homeowners InsuranceAllstate Homeowners InsuranceNationwide Homeowners Insurance Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. Bright and early the next morning, the plumbers, excavators, and insurance man arrived and set to work ripping up my driveway. I'm reminded of my baptism of fire — or, more accurately, baptism of waste water — every time I see that driveway. If it hadn't been for the safety net of my homeowners insurance, telling the harrowing tale of the first week in my new home would have been more tragedy than comedy.

☆ Housing affordability is so bad that it's the only thing liberal and conservative voters can agree on
▼ + stars: | 2022-11-11 | by ( Alcynna Lloyd | ) www.businessinsider.com time to read: +6 min

On Tuesday, millions of voters nationwide casted ballots in favor of affordable housing measures. "It's especially heartening to see many ballot measures that support affordable housing pass this year with a clear majority of votes." Austinites aren't the only voters desperate for affordable housing. Kansas City voters gave the green light to a $50 million affordable housing bond that will create 2,000 units in the city. This year, lawmakers brought forward proposed affordable housing bonds via Measure U in Oakland, Measure L in Berkeley and Measure ULA in Los Angeles.

☆ Real-estate bigwigs harshly punished for illegally discriminating against low-income renters could be a turning point in fair-housing law enforcement
▼ + stars: | 2022-11-10 | by ( Jordan Pandy | ) www.businessinsider.com time to read: +6 min

Washington, DC, real-estate firms who discriminated against low-income renters face a record fine. The historic settlement in DC could trigger harsher penalties for unfair landlords across the country, two housing experts said. The Section 8 program offers qualifying low-income households vouchers to subsidized rents in buildings not designated as affordable housing. Sedgwick Gardens is an apartment complex that DARO Management used to manage. The same study found that only 15% of DC landlords refused to accept vouchers.

☆ My partner and I earned over 14,000 points from our first credit card — here's how we're using rewards to save big at Amazon this holiday season
▼ + stars: | 2022-11-09 | by ( Tessa Campbell | Personal Finance Reviews Fellow | Read More | ) www.businessinsider.com time to read: +15 min

The author, Tessa Campbell, is using rewards from her Amazon credit card to save money on holiday shopping. Tessa Campbell/Tessa Campbell's phoneOpening the Amazon Prime Rewards Visa Signature Card helped my partner and me earn over 14,000 points in the first four months of opening the card. My partner was already a Prime member, and since we both frequently shop at Amazon.com, it was a no-brainer to get the Amazon Prime Rewards Visa Signature Card. Here's how we earn points fast, and how we plan to use the Amazon Prime Rewards Visa Signature Card to save money this holiday season. How I plan to use my Amazon Prime Rewards Visa card to save on holiday shopping in 2022The more my partner and I spend on the Amazon Prime Rewards Visa Signature Card, the more bonus points we'll earn.

While it used to be impossible to charge your rent or mortgage payments to a credit card to earn points, that has changed in recent years. Several services let you pay your housing expenses with a credit card, and there's even a credit card designed for this very purpose. You can still earn points on your rent and mortgage payments by utilizing a processing service. Credit cards to use on rent and mortgage paymentsOnce you have a program picked out that lets you pay your rent or mortgage with a credit card, you'll want to choose a credit card that offers maximum rewards. Read our review Read Our Review A looong arrow, pointing rightThe Capital One Venture Rewards Credit Card and Capital One Venture X Rewards Credit Card earn 2x points on almost all spending, including rent and mortgage payments.

In 2020 and 2021, mortgage interest rates fell to record lows. This year, with rent prices skyrocketing and mortgage interest rates hovering around 7%, people wonder if I regret my decision. Here are the five reasons I'm glad I didn't buy a home during the pandemic when interest rates were low. Mortgage interest rates will drop againOne argument friends tried to use, when convincing me to buy a house, was that mortgage interest rates were so low and they might never be this low again. However, mortgage interest rates are always fluctuating.

Show more Regular APR 18.99% - 25.99% Variable Editor's Rating 4.8 /5 A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star 4.8 out of 5 Stars Our editor's ratings analyze fees, bonuses, rewards, and benefits to highlight the simplest and most valuable credit cards available. American Airlines introduced its no-annual-fee American Airlines AAdvantage MileUp℠ Mastercard a couple of years ago to target less-frequent flyers on a budget. You'll continue to get the standard American Airlines benefits, such as a free first checked bag on American Airlines domestic itineraries, preferred boarding on American Airlines flights, a 25% savings on American Airlines inflight purchases, etc. American Airlines credit card frequently asked questions (FAQ)What credit score do you need for an American Airlines credit card? Most co-branded American Airlines cards (except the American Airlines AAdvantage MileUp℠ Mastercard) come with early boarding privileges.

☆ New York City's 'smallest apartment' has no bathroom and its renter shares one in the hall with neighbors
▼ + stars: | 2022-10-30 | by ( Jordan Hart | ) www.businessinsider.com time to read: +4 min

She must leave her micro studio and walk past neighbors to use the bathroom - which, while separate, is private. Randazzo's tiny apartment - 80 square feet - includes a tiny kitchen with a two-burner cooktop, mini fridge, microwave, and a sink. Most viewers were both shocked and impressed by how she maximized the small space. Like Verhaeg, Webber shares a bathroom with neighbors living on the same floor. Verhaeg found his tiny apartment on Zillow in 2020, but he didn't see it in person until it was time to move in.

☆ Even one of the biggest apartment landlords in the US is having trouble hiking rents as much as it did in the first half of the year
▼ + stars: | 2022-10-27 | by ( Kelsey Neubauer | ) www.businessinsider.com time to read: +4 min

The slowdown is affecting Equity Residential's over 79,000 units and clouding building valuations. Earnings reports show that average rents across Equity Residential's 79,594-unit portfolio rose by an average of just 1.7% last quarter, down from the 2.8% and 3.1% upticks in the second and first quarters, respectively. Meanwhile, the data shows that rents in many Texas and Florida cities, as well as a couple of key New England cities, keep rising. Meanwhile, in Boston, a scarcity of housing supply helped drive rents up 5.9% — making it the second most-expensive city to be a renter nationally. The deceleration in rent growth nationally is welcome news for renters who have had to cough up increasingly large chunks of their paychecks each month to their landlords.

☆ Bilt Rewards is offering free United Airlines elite status to members, plus bonus points and more in celebration of 'Rent Day'
▼ + stars: | 2022-10-27 | by ( Joseph Hostetler | Credit Cards Reporter | Read More | ) www.businessinsider.com time to read: +14 min

In advance of Rent Day on November 1, 2022, all Bilt Rewards members can receive free United Airlines elite status for a limited time. On Rent Day, Bilt Mastercard® cardholders can earn double points on non-rent expenses, and all members can participate in challenges to earn points and free rent. cardholders can earn double points on non-rent expenses, and all members can participate in challenges to earn points and free rent. You can also redeem Bilt points toward rent payments, merchandise, Amazon purchases, and even a downpayment on a house. You can earn 2,500 Bilt points per friend you refer to the Bilt Mastercard® — and 10,000 bonus points after you successfully refer five members.

☆ Developers aren't building enough affordable housing despite an unprecedented crisis. A top executive at $3.5 billion Nuveen explains the biggest hurdles, and how builders can tap into a steady source
▼ + stars: | 2022-10-26 | by ( Jennifer Streaks | ) www.businessinsider.com time to read: +7 min

So why aren't developers building more affordable housing? And more recently, the Biden Administration's 2023 budget includes a proposal for $25 billion for Grants for Affordable Housing Production. "Nuveen so far has $3.5 billion in assets under management and has 120 actual affordable housing properties across the country in 25 states," West says about the company's affordable housing portfolio. "Inflation has a direct, immediate effect on the cost of building affordable housing. Research shows that the shortage of affordable housing costs the American economy about $2 trillion a year in lower wages and productivity.

☆ This chart shows just how out-of-control rent has gotten: The typical person has to work 64.2 hours just to pay rent — up from 56 hours just two years ago
▼ + stars: | 2022-10-25 | by ( Britney Nguyen | Madison Hoff | ) www.businessinsider.com time to read: +3 min

Demands for rental units are declining as housing costs soar with the price of essentials like food. The average renter in the US would have to work over 64 hours to afford rent, Zillow data shows. Phoenix, Orlando, and Las Vegas are among the metropolitan areas where demand is slowing the most. In metropolitan areas like Phoenix, Orlando, and Las Vegas, demand for rental units is slowing down the most, according to rental-data tracker RealPage. The good news, Tucker said, is that rent growth is "cooling off," and there are more rental homes that will be available.

☆ I toured a 'haunted' Airbnb in Salem that costs $1,300 a night. I was charmed by its bright pink living room, but the feeling of a ghostly presence was uncanny.
▼ + stars: | 2022-10-23 | by ( Ann Matica | ) www.businessinsider.com time to read: 1 min

I was thoroughly charmed by the house, which blended old styling with new. While some rooms felt unsettling to walk through, I'd love to return one day as an Airbnb renter. Next time, though, I'll bring a large group of friends — just in case there are any spirits lurking around. Jakob Menendez

☆ A financially independent real estate investor bought 6 of his 25 properties from a turnkey provider and cash flows $250 per month from each one. He explains what a turnkey property is and why he inve
▼ + stars: | 2022-10-22 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +4 min

Turnkey properties are homes that are fully functioning and ready to rent out immediately. "A turnkey provider usually buys distressed houses that need work," explained Mark, who also owns real estate in Alabama and Virginia. They're called turnkey properties because, once you buy one, all you have to do is literally turn the key. Before selecting a turnkey operator to work with, talk to people who have actually bought properties from them before. Mark bought his first turnkey property in cash in a self-directed IRA in 2019.

☆ Imagine you just worked a 111-hour week. That's what many workers in 4 US cities would have to do to afford rent.
▼ + stars: | 2022-10-22 | by ( Jason Lalljee | ) www.businessinsider.com time to read: +5 min

To afford a "fair market" one bedroom in NYC, minimum wage workers would need to put in 111 hours a week, a study found. They'd have to work even more to afford rent in Dallas, San Jose, or Chicago. When looking at affordability for minimum wage workers, the United Way researchers say that even a fair-market price is out of reach based on their current rate of pay. Instead of paying sky-high rent prices, minimum wage workers are cramming into tighter living arrangements, going homeless, or far exceeding the recommended portion of one's income they should spend on rent. Until this month, the minimum wage for New York home aides was $15 an hour, but got a bump to $17 an hour.

☆ California just took a major step to try to solve the housing crisis that's left students 'sleeping in their cars, parking lots or classrooms' in college towns like Santa Cruz
▼ + stars: | 2022-10-16 | by ( Alcynna Lloyd | ) www.businessinsider.com time to read: +8 min

In the city of Santa Cruz, for example, affordable housing is so scarce some University of California students sleep in cars or classrooms. The most notable aims to alleviate California's housing crisis by permitting home construction on non-residential lots previously zoned for retail, offices, and parking. Owens hopes it will also ease the woes of UCSC students who can't find affordable housing on campus. According to the university, UCSC currently has just under 10,000 total spots available in campus housing for undergraduate, graduate and family housing. "A lot of the people who are bidding in Santa Cruz, don't have the income to match what landlords are asking," Owens said.

Before COVID, my wife made a comfortable salary but was unhappy, while I was happy freelancing. My wife got pregnant with our son and became a full-time parent, and it's been great for us. Our son is six months old and my wife stays home with him while I work in his bedroom. It is how queer people have always had to live — making things up as we go and trying to disrupt social expectations. We don't have a lot of money but we are happy with the life we have created for him.

☆ Meet a married couple who live with a roommate: 'It affords us things like travel, hobbies and luxuries that most people our age wouldn't get'
▼ + stars: | 2022-10-15 | by ( Alcynna Lloyd | ) www.businessinsider.com time to read: +7 min

The founders of real estate brokerage Open House Austin say there are different ways to make it work. "It affords us things like travel, hobbies and luxuries that most people our age wouldn't get if they owned a home or even paid rent. Holly Ratcliff and Stephanie Douglass, are the founders of real estate brokerage Open House Austin. The pair help homebuyers across the city "break through the barriers of traditional homeownership" by teaching them to form real estate partnerships. We have shifted our business based on the fact that real estate is changing every single day."

With mortgage rates on the rise and buyer demand collapsing, home prices are poised to stay high into 2023. Soaring interest rates have ripped through the housing market in 2022, driving mortgage rates to highs not seen since the peak of the mid-2000s housing bubble. Demand for rental properties has rallied as Americans shy away from buying, leading costs to soar at apartments and rental homes, too. For those who don't own their home and haven't locked in a low mortgage rate, shelter is as expensive as it's ever been. Rate hikes have lifted mortgage rates and generally made housing far less affordable.

☆ Former L.A. City Council president resigns amid uproar over leaked audio of racist remarks
▼ + stars: | 2022-10-12 | by ( Antonio Planas | Antonio Planas Is A Breaking News Reporter For Nbc News Digital. | ) www.nbcnews.com time to read: +4 min

The former president of the Los Angeles City Council at the center of a controversy over leaked audio of racist remarks announced her resignation from the elected board on Wednesday. “It is with a broken heart that I resign my seat for Council District 6, the community I grew up in and my home,” she said. No one expected me to win, but with the support of residents throughout the district I overcame that challenge and won the seat for Council District 6. In the leaked audio, Martinez likened the Black son of council member Mike Bonin, who was 2 years old at the time, to an animal. Since the Los Angeles Times first reported about the audio recording on Sunday, the controversy has grown into a national story.

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