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Manufactured housing, sometimes called mobile homes, are homes made in a factory rather than constructed on site, and they have been surging in popularity this year amid America’s housing crisis. Instead, they’re turning to the internet for lower-cost options, whether a pop-up foldable house kit, a tiny home or a traditional mobile home. Amazon is not the first major retailer to sell manufactured homes. More than 100 years ago, American retailer Sears, Roebuck and Co began selling kit homes from its catalog, with some for under $1,000. A 2023 Urban Institute paper argued that mobile homes were “uniquely vulnerable” to natural disasters compared to other housing.
Persons: Julie Johnson, homeownership, SSRS, George Rose, Donald Trump, Sears, Marc Norman, ” Norman, Katie Currid, , Norman, Johnson, ” Johnson, Rebecca Blackwell, Johnson’s, Julie Johnson's, Patrick Harker, ” Harker, , ” CNN’s Chris Isidore Organizations: CNN, Facebook, National Association of Realtors, Getty, Census Bureau, Sears, Roebuck, Schack Institute of Real, New York University, Daily News, Urban, Hurricane, Federal Reserve Bank of Philadelphia, Locations: North Carolina, America, Boulder City, Boulder City , Nevada, Staunton , Virginia, Staunton, Mobile, Hurricane Milton, Englewood , Florida
Many of the efforts were focused on allocating more funds for affordable housing. They voted for a slew of measures, most of which will create additional funding for affordable housing. Affordable housing bonds in Rhode Island, North Carolina, and BaltimoreSeveral cities and states along the East Coast voted on Tuesday to fund affordable housing bonds. Proponents of stricter rent control say preventing landlords from price gauging is key to protecting the most vulnerable tenants. Freemark argued that it's unclear what the mixed results on rent control mean for the pro-housing movement.
Persons: , Donald Trump's, Yonah, Karen Bass, Angelenos, Charlotte, Hill, Anselmo —, Freemark, I'm Organizations: Service, Trump, Republican Party, Urban Institute, LA, East Coast, Orlando In, Denver Locations: Angeles, Los Angeles County, LA, Rhode Island , North Carolina, Baltimore, Rhode Island, homebuyers, North Carolina, Asheville, New Orleans, Orlando, Orlando In New Orleans, Orlando , Florida, Denver, California, Hoboken , New Jersey
That shortage also affects rent prices. In August, Harris unveiled a multi-pronged plan to lower housing costs. The plan also includes two main proposals to lower rent costs. Both plans to lower rent would be subject to congressional approval, meaning that the measures may be difficult to pass even if Harris wins the presidency. Unlike Harris, Trump has not rolled out a formal housing plan, but he has tied plans to deport undocumented immigrants to housing.
Persons: Kamala Harris, Donald Trump, “ It’s, , Jim Parrott, That’s, ” Parrott, Mario Tama, Freddie Mac, Harris, Trump, “ We’re, homeownership, SSRS, , Nick Pappas Organizations: CNN, Urban Institute, National Economic Council, SSRS, National Association of Realtors, Trump, Economic, of New, Treasury, Federal Reserve, Locations: Arizona , Nevada , Wisconsin , Michigan, Pennsylvania, Georgia, North Carolina, Los Angeles , California, America, of New York, Kansas
AdvertisementNewlyweds Aislyn and Ali Benjamin felt they couldn't afford to buy a traditional property in their corner of California — Danville, a small city just over an hour's drive east of San Francisco. Financing and building the ADU cost a total of $500,000, paid by the couple with help from their parents. Advertisement"The main reason we chose to do this is to stay close to our work," Ali Benjamin told Business Insider. An overview of the Benjamins' ADU in the Bay Area, where the couple lives full-time. The kitchen of the Benjamins' ADU.
Persons: Aislyn, Ali Benjamin, , Realtor.com, San Ramon — Aislyn, Ali, Villa, ADU, Ali Benjamin's, Ali Benjamin said Organizations: Service, Danville ., Benjamins, Business, Urban Institute, Villa Villa, Backyard, Villa Locations: California — Danville, San Francisco, Danville, San Ramon, Bay, California, Los Angeles, San Jose
In the second quarter of 2024, U.S. homeowners with mortgages had a net homeowner equity of over $17.6 trillion, according to CoreLogic. It's also generally considered a path to build wealth and increase your net worth , financial experts say. It's a way to increase your net worth over time. Homeowners can start to see their equity and net worth increase within five to 10 years. Homeownership allows you to increase your net worth because you can build equity through mortgage payments, which increases your asset value over time as the property appreciates in value, experts say.
Persons: It's, Steven LaRosa, Freddie Mac Organizations: Edgemoor Investment, Urban Institute Locations: Bethesda , Maryland
While rent prices are undoubtedly rising, it’s unclear how much of the jump is due to corporate investors who buy up multiple properties. “Community after community feels taken advantage of by Wall Street investors and corporate landlords who have bought thousands of single-family homes during recent downturns,” Harris’ policy platform reads. A CNN analysis found that rent increases recently outpaced wage growth in cities with a meaningful presence of big investors. Ownership by corporate landlords, which CNN calculated by combining limited liability entities, real estate corporations and real estate investment trusts, stood at 16%. The number of single-family homes under construction dramatically decreased after the 2008 financial crisis, and construction never really returned to pre-recession levels.
Persons: Kamala Harris, Harris, ” Harris, Michael Seiler, College of William & Mary, , we’re, ” Seiler, Laurie Goodman, ” Goodman, Donald Trump, ” Jared Kushner, Trump’s, CoreLogic, Goodman, “ There’s, Organizations: CNN, White House, Wall Street, College of William &, Urban Institute, Bureau of Labor Statistics, Housing Finance, Center, SSRS, Republican, Census Locations: United States, Atlanta, Jacksonville , Florida, Charlotte, North Carolina, Zillow
Owning a home in high-climate risk states like Florida is becoming tougher amid rising costs. Experts say the next few years will be crucial for housing policy in the wake of severe climate disasters. On the one hand, buyers are facing rising costs as insurance premiums skyrocket. Still, a big advantage to owning a home is the ability to lock in housing costs. That's especially true after climate disasters, according to one study that looked at rent prices following hurricanes in US coastal states.
Persons: Hurricane Milton, homebuyers, Chen Zhao, Jung Hyun Choi, Choi, Katrina, Zhao Organizations: Service, Institute's, Finance Policy Center Locations: Florida, Hurricane, Texas, Georgia, Louisiana, it's
Harris has proposed expanding the small business tax credit from $5,000 to $50,000. She even mentioned a key proposal in her opening answer at the presidential debate: expand the small business tax credit 10-fold, from $5,000 to $50,000. Theodos called small businesses "essential" for the US economy, and Buttle said they're a crucial source of innovation. The Pew Research study found 61% of small businesses are majority-owned by men and, as of 2021, 85% were majority-white owned. "We're talking about community businesses, micro-businesses, businesses where the founder doesn't have as much net worth," Theodos told BI.
Persons: Harris, , Patricia Oswlad, Oswald, Kamala Harris, Rhett Buttle, Joe Biden, Taylor McCleneghan, Danielle Parhizkaran, Brett Theodos, Garret Watson, Theodos, Buttle, McCleneghan, Watson, Chip Somodevilla, they're, Mary Hansen, Francine Orr, doesn't Organizations: Service, Business, Brisa Systems, Small Business, Small, Boston Globe, Getty, Urban Institute, Foundation, Tax Foundation, Pew Research Center, American University, Los Angeles Times, Congress, Pew Research Locations: Chicago
Federal spending on children climbed to a peak of $11,690 per child in 2021 in response to the Covid-19 pandemic. In 2024, that spending is expected to level off to $8,760 per child — a decline of about $230 per child from the previous year, the research found. In 2021, child poverty fell to 5.2%, down from 12.6% in 2019. The expiration of the aid drove child poverty back up to 12.4% in 2022. Tax expenditures represent the largest drop in federal spending on children between 2022 and 2023, while there were also sharp declines in spending on nutrition and more modest changes in education funding, according to the Urban Institute.
Persons: , Heather Hahn, Hahn Organizations: Urban Institute, D.C, Finance Locations: Washington
The US will see construction completed on a record number of apartments this year. The Sun Belt region in particular is seeing this dynamic play out. The US will see construction on a record number of apartments completed this year. They're now seeing rent prices fall, or at least remain stagnant as the rest of the nation lags behind. That means the market will eventually balance itself in the next few years, which will lead rent prices to once again rise, she said.
Persons: , Laurie Goodman, Goodman, Austin, Chen Zhao, Zhao Organizations: Service, Housing Finance, Center, Urban Institute, Sun, metros, Dallas, Harvard Locations: Dallas, New York, Austin
The measures reduce Social Security benefits accrued during private-sector work to compensate for the state or local government pension benefits. The Social Security Administration reported the average monthly check as of July 2024 is about $1,783. Meanwhile, nearly half of WEP-affected Social Security beneficiaries had pensions above $3,000 a month in 2023. In her 20s, McLeod worked various part-time and lower-paying clerical roles, all of which paid into Social Security. "They said you get a good enough retirement from the state, so you'll be OK not getting all your Social Security."
Persons: , Patrice Earnest, Earnest, Jane Roth, Roth, She's, she'd, it's, Karen Smith, Janis Hernandez, Critics, they've, we're, Louisiana Sen, Bill Cassidy, Republican who's, Anne McLeod, McLeod Organizations: Service, Social, Business, , Social Security, GPO, Security, Workers, Urban Institute, Social Security Administration, Center, National Task Force, Force, Republican, Budget Locations: New Haven, Louisiana, New Orleans
The Fed's interest rate cut will ease financing conditions for homebuilders, analysts told BI. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementThe Federal Reserve's rate cut will surely impact the housing market, but its effect likely won't affect arguably the most important part of the equation: keeping affordability tight. But how this translates into a much-needed supply boost is a different story, and there are factors the Fed cut won't fix. Lingering uncertaintiesAdvertisementFor instance, Nanayakkara-Skillington noted that material pricing, from drywall to steel mill products, has weighed heavily on homebuilders since the pandemic.
Persons: , it'll, NAHB's, Skillington, NAHB, Michael Neal, Fitch, Neal Organizations: Service, National Association of Home Builders, Urban Institute senior, Fitch
Alistair Berg | Digitalvision | Getty ImagesPlanning to work longer is a popular escape hatch for Americans who feel they've saved too little to support themselves in old age. About 27% of workers intend to work in retirement because they need to supplement their income, according to a new CNBC and SurveyMonkey survey. While working longer is among the best ways to shore up one's nest egg, the plan may backfire, according to retirement experts. If workers lose those wages, they'd have to figure out another way to make their retirement savings last. There are benefits to working longerWorking longer — for those who can do it — is a financial boon, according to retirement experts.
Persons: Alistair Berg, Digitalvision, they've, Philip Chao, Chao, EBRI Organizations: Getty, CNBC, Workers, Urban Locations: John , Maryland
“I’ve been battling this for over 20 years,” Belk, 68, said of his medical debt. The burden of medical debt has contributed to financial anxiety among voters and has become an issue in the 2024 presidential campaign. Guill, who has multiple sclerosis, lives in Aiden, North Carolina, a rural community just south of Greenville. She volunteers with a nonprofit called Down Home North Carolina to help her neighbors gain access to Medicaid. “We have a ton of people with medical debt in the state because our insurance plans didn’t cover our medical bills,” she said.
Persons: “ I’ve, ” Belk, KFF, , Berneta Haynes, Terry Belk's, Mike Belleme, , it’s, don’t, Cynthia Fisher, they’ve, PatientRightsAdvocate.org, Darcy Guill, Darcy Guill Guill, Harold Miller Organizations: National Consumer Law Center, U.S, NBC, Atrium Health, Health, American, of Public Health, Nonprofit, Affordable, The Commonwealth Fund, Urban Institute, Center for Healthcare Locations: South Dakota, Mississippi, North Carolina, American, Charlotte, N.C, United States, U.S, Aiden , North Carolina, Greenville
CNN —Former President Donald Trump plans to ban mortgages for undocumented immigrants, he said in a speech at the Economic Club of New York on Thursday. Trump claimed the measure would help address housing affordability because a “flood” of people entering the country illegally are pushing up housing costs, but undocumented immigrants only make up a tiny portion of the mortgage market. It’s often very difficult for undocumented immigrants to obtain home loans, even though the USA Patriot Act of 2021 allowed banks to accept ITINs as a form of identification. He also said falling interest rates will send mortgage rates down to 3% or even lower, which will make financing less expensive for homebuyers. Trump’s broader views on undocumented immigrants — and his insistence that he would deport millions of them — could also hamper the push to lower home prices.
Persons: Donald Trump, Trump, Organizations: CNN, Economic, of New, Urban Institute, Social Security, USA Locations: of New York
Part of the building site of the Magic City development in Little Haiti. Among the properties is Sixty Uptown Magic City, billed as a collection of luxury residential units. Plaza Equity Partners, a real estate developer and one of the Magic City partners, did not respond to CNBC's requests for comment. Magic City development site in Little Haiti. Magic City investors also invested $31 million in the Little Haiti Revitalization Trust, created and administered by the City of Miami to support community revitalization in Little Haiti.
Persons: Greg Iacurci, Greg Iacurci MIAMI — Nicole Crooks, James Brown, Sam Cooke, Ray Charles, Aretha Franklin, Ella Fitzgerald, Jackie Robinson, Joe Louis, Overtown, Crooks, Nicole Crooks, Carl Gershenson, Gershenson, Moody's, Robert Zangrillo, Princeton's Gershenson, Andrew Rumbach, Chris Rogers, Rumbach, Brown, Fredericka Brown, Carolyn Donaldson, Greg Iacurci Carolyn Donaldson, Donaldson, David Arditi, Greg Iacurci Flood, Arditi, homebuyers, Han Li, Richard J, Grant, Todd Crowl, Urban Institute Paulette Richards, Richards, who's, Carl Juste, Greg Iacurci Carl Juste's, — Viter, Maria Juste, Little, Little Haiti —, " Juste, Juste, Neil Fairman Organizations: Lyric, Greg Iacurci MIAMI, Catalyst Miami, Princeton University Eviction, Magic City, Liberty City —, Dade, Harvard University, Florida International University, Magic City Innovation, Dragon, Miami ZIP, Liberty City, Miami, West Palm Beach, Boca Raton, Urban Institute, Marshall Fire, Photodisc, Georgia Institute of Technology, Brookings Institution, Macedonia Missionary Baptist Church, Macedonia Missionary Baptist, Grove Rights, Community Equity, Development, Developers, City, Aria Development, Federal Emergency Management Agency, University of Miami, Florida International University Institute of Environment, Women, Leadership Miami, Little Haiti, Magic City Innovation District, Dragon Global, Magic, Plaza Equity Partners, Lune, Lambert, Little Haiti Revitalization Trust Locations: Miami's Overtown, Miami, Overtown , Miami, Magic, Little Haiti, U.S, Zillow, Overtown, Allapattah, Liberty, Dade County, Kendall, West Palm, Delray, Honolulu, Louisville , Colorado, Colorado, Coconut Grove, Macedonia, West, West Grove, Bahamas, Grove, City of Miami, Brickell, Caribbean, Liberty City, Haitian Diaspora, Magic City, Lune Rouge
Here are the four charts that show why Lee is so bullish on the stock market. AdvertisementHere are the four charts Lee shared with Business Insider that show why the already upbeat forecaster is so bullish on the stock market. Stock market peaks and demographicsFundstratThe stock market has a history of peaking right around the same time a population hits its peak prime age of around 50 years old, as they are closer to retirement and often spend less money. Fast-forward to 1974, when the silent generation saw its prime age peak. This occurred around the same time as a painful stock market correction of about 35% that lasted years.
Persons: Fundstrat's Tom Lee, Lee, , Tom Lee, millennials Fundstrat Lee Organizations: Service, Business, CNBC, Urban Institute, Tech Locations: America
Getty ImagesThe share of people with medical debt in collections that shows up in their credit reports has fallen in the past decade. Colorado had no medical debt in collections in 2023 after it banned credit bureaus from including medical debt on credit reports. The independent government agency estimates the rule would remove up to $49 billion in medical debts from credit reports. "We find that people who have medical debt end up fighting all sorts of other debt," Rae said. About $7 billion in medical debt to be canceledCertain states, cities and counties are canceling about $7 billion in medical debt through the American Rescue Plan Act, federal legislation that was enacted in 2021.
Persons: Breno Braga, Matthew Rae, We've, Rae, Probal Rashid, Lightrocket, Kamala Harris, Stefani Reynolds Organizations: Urban Institute, D.C, Consumers, Urban Institute . West, Consumer Financial, Bureau, Medicare, Washington , D.C, American, White, Eisenhower, AFP, Getty Locations: Washington, Urban Institute . West Virginia, South Carolina, Oklahoma, Louisiana, Mississippi, Colorado, Minnesota, Hawaii, Vermont, Washington ,
Federal Reserve officials use government data to help determine when to raise or lower interest rates. Congress and the White House use it to decide when to extend jobless benefits or send out stimulus payments. But a new study says the integrity of that data is in increasing jeopardy. But that could soon change, the study warns, citing factors including shrinking budgets, falling survey response rates and the potential for political interference. “We’re not there yet, but if we don’t do something, that threat could become a reality, and in the not-too-distant future.”
Persons: , , Nancy Potok, “ We’re Organizations: Federal, American Statistical Association, George Mason University, Urban Institute Locations: United States
While universal basic income provides money to everyone, guaranteed income may provide either targeted or universal support. The organization did not provide comment, but the Foundation for Government Accountability's research lays out the reasons for its opposition to guaranteed income programs. Once they have access to guaranteed income, that often allows them to figure out ways to increase what they earn, she said. "Folks who press arguments about guaranteed income creating dependency aren't looking at the fact that what guaranteed income is actually allowing participants to do is make good choices," Bogle said. 'The status quo isn't working'Many other guaranteed income program participants have seen life-changing improvements, particularly when it comes to their earnings capability.
Persons: Harish Patel, Patel, Austin, Mary Bogle, Bogle, Taniquewa Brewster, Winter Storm Uri, Brewster, Michael Tubbs, Harris, Rodney Ellis, Ken Paxton's Organizations: Economic Security, American, Getty Images, Foundation, Government, Solutions, Foundation for Government, Urban Institute, Austin, Winter Storm, Mayors, Democrats, Republicans, Houston . Houston Chronicle, hearst Newspapers, Getty, Hearst Newspapers Locations: Columbus , Ohio, Getty Images Idaho , Iowa, South Dakota, Arkansas, Austin , Texas, Austin, Harris, Texas, Houston .
When comparing personal wealth data with homeownership, a curious pattern emerges: Many states with high homeownership rates have lower income levels and vice versa. According to Federal Reserve data, West Virginia’s average personal income of $52,585 per capita is the second-lowest in the US. However, despite its relatively low personal income levels, it has the highest homeownership rate of all 50 states, at 77%, according to US census data. Mississippi—the only state with a lower average personal income than West Virginia—has the third-highest homeownership rate in the country. Even West Virginia, which counts three out of every four housing units in the state as owner-occupied, isn’t insulated, Sansalone said.
Persons: Vera Sansalone, Sansalone, , , ” Sansalone, West Virginia —, Mike Simonsen, Loren Elliott, Simonsen, They’re, ” Simonsen, Laurie Goodman, ” Goodman, Eric Adams, ” Adams, Stephanie Moulton, ” Moulton, “ We’ve Organizations: CNN, Federal Reserve, West Virginia, Research, Housing, Center, Urban Institute, Republicans, New York City, Harvard University’s, for Housing Studies, Ohio State University Locations: West Virginia, Mannington, Boston, Mississippi, West, ” New York , California, Massachusetts, San Francisco , California, New York City, San Francisco, Manhattan, RentCafe, Washington DC, New York, Dallas
Despite a strong job market, many Gen Zers are still relying on the bank of Mom and Dad to make ends meet. The young adult has their entire life ahead of them. Some parents might be more willing to provide financial support because they want to feel like a good parent. The young adult has their entire life ahead of them," Bailey said. When India Anderson turned 20 and decided to move in with her boyfriend, her mother cut off most financial support.
Persons: David Nuñez, freeloader —, Zers, Nuñez, frazzled, Nuñez's, Gen Zers, Monica Kirkpatrick Johnson, They're, Zillow, haven't, Kirkpatrick Johnson, Jeffrey Jensen Arnett, Jo Clark, Clark, I'm, Teresa Bailey, There's, Ali Lupo, Lupo, , doesn't, Bailey, JP Krahel, Cody, Erika Archie, Cody Archie, Archie, Erika, there's, They've, India Anderson, Anderson, She's, Uber Organizations: Netflix, Pew Research Center, Pew, Washington State University, Clark University, Waddell & Associates, Urban Institute, Loyola University Maryland Locations: Tampa , Florida, America, Surrey, England, New York, Texas, Orlando
Fact checking the CNN presidential debate
  + stars: | 2024-06-27 | by ( Cnn Staff | ) edition.cnn.com   time to read: +69 min
CNN —President Joe Biden and former President Donald Trump faced off during CNN’s presidential debate in Atlanta Thursday night. From CNN’s Daniel DaleFormer President Donald Trump and President Joe Biden debate at CNN's Atlanta studios on June 27, 2024. From CNN’s Daniel Dale and Ella NilsenFormer President Donald Trump, left, and President Joe Biden take part in the CNN presidential debate on Thursday, June 27. From CNN’s Alicia WallaceFormer President Donald Trump and President Joe Biden debate at CNN's Atlanta studios on June 27, 2024. Kpler found that China imported about 511,000 barrels per day of Iranian crude in December 2020, Trump’s last full month in office.
Persons: Joe Biden, Donald Trump, Biden, Trump “, , ” Trump, , Trump, ” John Kelly, servicemembers, Kelly, Jim Sciutto, Daniel Dale, Kaanita Iyer, Roe, Wade, That’s, Wade ”, Kimberly Mutcherson, “ Donald Trump’s, Maya Manian, Trump’s, Mary Ziegler, Davis, Ziegler, Ruth Bader Ginsburg, Roe should’ve, , Will Lanzoni, ” Biden, corpsman —, Hamid Karzai, CNN’s Haley Britzky, didn’t, Priscilla Alvarez, George Floyd, Tim Walz, Walz, Paul –, CNN’s Holmes Lybrand, Daniel Dale FACT, European Union won’t, Ella Nilsen, Jill Biden, Jake Tapper, Dana Bash, Adam Rose, CNN US Sen, Marco Rubio, CNN Trump, Austin Steele, CNN Biden, Tristen Rouse, CNN Tapper, Robert F, Kennedy Jr, Kennedy, CNN MJ Lee, Mandel Ngan, Megan Varner, Reuters Kennedy, Burk Stringfellow, Iran “, Mike Pompeo, ” Pompeo, Tami Luhby Trump, CNN’s KFILE, weren’t, Hillary Clinton, affirmatively, it’s, what’s, , Alicia Wallace, Obama, CNN’s Ella Nilsen, you’re, Biden’s, Hunter Biden, Joe Biden’s, Viktor Shokin, Shokin, CNN’s Marshall Cohen, “ It’s, Rick Muskat, CNN.So, Morgan, Katie Lobosco, Alvin Bragg’s, Bragg, Jack Smith, Smith, General Merrick Garland, Garland, Matthew Colangelo, Colangelo, I’ve, there’s, Iran haven’t, ” Matt Smith, Ali Vaez, Kpler, Gary Engelhardt, Jason Richwine, ” Richwine, Tami Luhby, Confederate, Robert E, Lee, marchthat, “ I’m, Elle Reeve, Ralph Northam, Jen Christensen, ” Trump’s, Ronald Reagan’s, Barack Obama, George W, , ’ ” Trump, CNN’s Jen Christensen, Pelosi, Nancy Pelosi, “ Nancy Pelosi, , Alexandra Pelosi, Aaron Bennett, Cherry, Christopher Miller, Miller, Charis Kubrin, CNN’s Catherine Shoichet, ” Kubrin’s, Graham Ousey, College of William & Mary, Erwan, George Washington, Marshall Cohen, ” Howard Gleckman, Gleckman, Emmanuel Saez, Gabriel Zucman “, Howard Gleckman, ” Gleckman Organizations: CNN, Trump, Homeland Security, SSRS, Marquette Law School, NBC, Gallup, ” Rutgers Law, American University, university’s Health, University of California, Atlanta, US Navy, Border Patrol, Border Patrol Council, National Guard, Minneapolis Former, Minnesota Democratic Gov, Minnesota National Guard, Guard, EU, European Union, US, European Automobile Manufacturers ’ Association, CNN US, Biden, House, CNN Biden's, CNN Biden, White House, Getty, Reuters, State, Medicare, Black, of Labor Statistics, Republican, Burisma Holdings, International Monetary Fund, Republicans, House Republicans, US International Trade Commission, US Customs, Deer Stags, Peterson Institute for International Economics, Justice Department, DOJ, DC, federal, Department, Democrat, Americas, Crisis, Social Security, Social, General Internal Medicine, , Syracuse University, Center for Immigration Studies, Electoral, White, Nazi, US Centers for Disease Control, Former Virginia Gov, United, China Former, China, Hamas, ISIS, Trump’s, Democratic, Congressional, Capitol, Colorado Supreme Court, US Food, Guttmacher Institute, California Democrat, Capitol Police Board, Senate, District of Columbia National Guard, College of William &, NATO, Atlantic Treaty Organization, George Washington University’s Elliott School of International Affairs, Transatlantic, Urban, Brookings Tax, Urban Institute, , Tax, Center Locations: Atlanta, France, Afghanistan, Kabul, Jordan, Iran, Somalia, Yemen, Yakushima Island, Japan, Minneapolis, Portland, Minnesota , Minneapolis, St, EU, Georgia, CNN's, Washington ,, AFP, Lebanon, Israel, what’s, Paris, China, India, Russia, United States, Ukrainian, Ukraine, lockstep, American, Manhattan, New York , Georgia, Florida, Washington, New York, York’s, Mexico, Kpler, Malaysia, Charlottesville, Charlottesville , Virginia, White, Virginia, Northam, East, , New York City, Saudi, al Qaeda, Texas, Colorado, California, Trump, Irvine, Germany, Berkeley
America’s housing crisis continues to worsen
  + stars: | 2024-06-23 | by ( Bryan Mena | ) edition.cnn.com   time to read: +6 min
Washington CNN —Homeowners in America aren’t the only ones struggling with an unaffordable housing market. A report from Harvard University’s Joint Center for Housing Studies released last week showed that both homeowners and renters in recent years have become increasingly burdened by climbing housing costs. That’s all part of a broader struggle in the US housing market, and recent data shows that it hasn’t gotten any better. But there’s a problem: ChatGPT — soon to be integrated into Siri — is banned in China, reports my colleague Samantha Murphy Kelly. The Chicago Fed releases its National Activity Index for May.
Persons: ” Lael Brainard, , , Brainard, Biden, ” Brainard, ChatGPT —, Siri —, Samantha Murphy Kelly, OpenAI, Siri, ChatGPT, Read, Christopher Waller, Lisa Cook, Michelle Bowman, General Mills, Levi Strauss, Tom Barkin Organizations: CNN Business, Bell, Washington CNN — Homeowners, America aren’t, Harvard University’s, for Housing Studies, Harvard, , White, Economic Council, Urban Institute, Administration, Apple, Apple Intelligence, Microsoft, Google, Meta, Samsung, Cyberspace Administration, FedEx, Chicago Fed, Global, Index, Board, Micron, General, US Commerce Department, Federal Reserve, Nike, McCormick, Walgreens, US Labor Department, National Association of Realtors, Richmond Fed, University of Michigan Locations: Washington, America, Congress, China
Crypto's culture encourages investors to "HODL," or hold on for dear life, in the rollercoaster ride of bitcoin 's extreme fluctuations. But this long-prized practice may diminish as adoption of ETFs grows, particularly if traditional investors who are accustomed to rebalancing their portfolios regularly add in bitcoin exposure. "From a risk management point of view, rebalancing is a good thing. But rebalancing also means that they're going to be sellers along this journey." At the moment, long-term holders are selling, as is normal during bull markets, after accumulating bitcoin during the bear market.
Persons: Donald Marron, rebalancing, Julio Moreno Organizations: Urban Institute Locations: Austin , Texas
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