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"Homebuyers have to make a compromise along the way, and often it's the age or the condition of the home," she said. The survey found that the median age of owner-occupied homes in the U.S. is about 40 years old. A mistake, however, is spending your entire reserve of savings for the down payment and ending up "house poor," Ostrowski said. In 2023, 46% of homeowners used cash from savings to cover home improvement projects, according to Angi.com. On average, there are three offers for every home that's listed for sale, Lautz said.
Persons: Jessica Lautz, Lautz, Ostrowski, you've, They're, who's Organizations: National Association of Realtors, Survey, U.S . Census Locations: U.S
In 2013, the share of self-identified liberals among young women exceeded the share among young men by 5 percentage points; by 2023, that gap was nearly four times as large. (In that survey, young men were substantially more likely than young women to say they rely on YouTube as a major source of news.) (In the Harvard poll, one-fourth of young women identified in some way as LGBTQ, more than double the share of young men.) “He’s got to make up for the defection of young men by winning young women by more, and he’s got to get every young woman he can out to vote,” said Lake, the Democratic pollster. Biden’s best hope of avoiding a catastrophic decline in his youth support is that the number of young women Trump repels exceeds the number of young men he attracts.
Persons: Joe Biden, Donald Trump, Biden, John Burn, Murdoch, , Harvard University’s John F, Daniel Cox, William Frey, Melissa Deckman, Gen, , Trump, John Della Volpe, Joe Biden doesn’t, Della Volpe, White, Deckman, aren’t, Cox, Dobbs, Anna Dean, Dean, ” Della Volpe, he’s, don’t, ” Cox, “ Donald Trump, “ He’s Organizations: CNN, Trump, Biden, Pew Research Center, Financial, NBC, Democratic, Republican, GOP, Institute of Politics, Harvard University’s, Kennedy, Republican Party, Harvard, Democrats, Survey Center, American Enterprise Institute, Biden didn’t, Brookings Metro thinktank, Religion Research Institute, Biden’s, YouTube, Pew, AEI, Blacks, Harvard Poll, Biden won’t Locations: Gaza, New York, Bentonville , Arkansas, America
But the middle class may be more occupationally ambiguous, especially since a middle class income can range from $49,720 to $149,160 in the U.S., according to Pew Research's definition and based on the latest Census Bureau income data. Pew defines the middle class as households earning between two-thirds and double the median income, which was $74,580 in 2022, according to the U.S. Census Bureau. Since over half of U.S. households were estimated to be in the middle class as of 2022, Pew says, it makes sense the jobs that offer those middle class incomes would vary. But some positions and industries tend to have higher shares of middle class workers. Notably, many of the jobs that are likely to ensure a middle class salary may not require a college education.
Persons: Pew Organizations: Pew, . Census, Survey, Armed, Workers, Bureau of Labor Statistics, Department of Defense, Public, CNBC Locations: U.S
That morning we were surrounded by a lot of other people also speaking Spanish — a mix of Mexican, Cuban, and Puerto Rican accents could be heard in the background. After returning home, he continued to ask why no one spoke Spanish in our neighborhood, and I felt sad, explaining that Orlando had more people from different countries. I saw that my four children were the only bilingual kids in the neighborhood. AdvertisementSeeing her four kids proud to be bilingual makes the author feel proud. I was surprised by how many kids spoke Spanish, not to mention the long list of other languages.
Persons: , Orlando, Evelyn Pech, Vazquez, we've, waives Organizations: Service, Business, United States Census Locations: Florida, Spanish, Puerto, Lansing , Michigan, Michigan, Yucatan, Mexico, Cameroon, Cleveland, California, Southern California, Simi Valley, Downtown Los Angeles, McDonald's
That morning we were surrounded by a lot of other people also speaking Spanish — a mix of Mexican, Cuban, and Puerto Rican accents could be heard in the background. After returning home, he continued to ask why no one spoke Spanish in our neighborhood, and I felt sad, explaining that Orlando had more people from different countries. I saw that my four children were the only bilingual kids in the neighborhood. AdvertisementSeeing her four kids proud to be bilingual makes the author feel proud. I was surprised by how many kids spoke Spanish, not to mention the long list of other languages.
Persons: , Orlando, Evelyn Pech, Vazquez, we've, waives Organizations: Service, Business, United States Census Locations: Florida, Spanish, Puerto, Lansing , Michigan, Michigan, Yucatan, Mexico, Cameroon, Cleveland, California, Southern California, Simi Valley, Downtown Los Angeles, McDonald's
John and Susan Pazera knew their retirement years would look a lot different if they chose to stay in California. In 2001, the couple took a three-year sabbatical and sailed down the West Coast to Central America, where they stopped in Panama. AdvertisementThey said that had they not moved abroad, early retirement would not have been a possibility. Advertisement"If we stay in the US, one of us gets really, really sick with some strange disease, and the insurance company says, 'Well, we don't cover that.' John and Susan are grateful that finances are not a concern for them as they continue to live abroad in retirement.
Persons: John, Susan Pazera, Susan —, , They're, Susan, Debra Crockett Organizations: Service, Business, Survey Locations: California, Coast, Central America, Panama, Colombia, Medellín, Lower, Turkey
— When Gil Curren's family moved into a run-down farmhouse in Walmart's hometown of Bentonville, Arkansas, in 1971, the now-retail giant wasn't yet a decade old. Craft cocktails, hipster coffee shops and chef-driven restaurants have popped up around the city. Realtor Kristen Boozman, who works for Sotheby's, helps clients search for homes in the Bentonville area, including many buyers who are relocating from another city. Home values have shot up in the Bentonville area. A Walmart spokeswoman said the Walton Family Foundation funds and advocates for affordable housing projects in the Bentonville area.
Persons: Gil Curren's, it's, Sue, Gil Curren, Melissa Repko, Hunt, Tyson, Shawn Baldwin, Sam Walton, Walton, Walton's, Steuart, Tom Walton, Sam Walton's, Alice Walton, Bridges, She's, Crystal Bridges, Kristen Boozman, There's, Donna Morris, Morris, Tracy Robinson, she's, CNBC Tracy Robinson, Robinson, Stanley, Matthew Cooper, Tom, Cooper, he's, district's, It's, Jeff Webster, Bentonville Shawn Baldwin Organizations: Cyclists, Kansas City, CNBC, Walmart, Craft, Fortune, Tyson Foods, PepsiCo, Hershey, Mattel, . Census, Cushman &, Sage Partners, of Commerce, Northwest Arkansas Council, D.C, Ropeswing Hospitality, Bentonville Schools, Excellerate Foundation, Walton Family Foundation, Walton Family, Bentonville Locations: BENTONVILLE, Ark, Walmart's, Bentonville , Arkansas, Bentonville, Kansas, Austin , Texas, New York, U.S, Silicon, It's, Arkansas, Cushman & Wakefield, American, Crystal, Austin, Boise , Idaho, Dallas, Fort Worth, Atlanta, Toronto, New York City, Miami, Washington, New York City , Washington, Bentonville's
The result is that class A units account for more than half the apartment market, compared with one-third in the early 2000s, according to Moody's Analytics. High-end apartments that offer amenities up the wazoo — and rent breaks, to boot — represent a tantalizing alternative to the for-sale market right now. But as with all good things, the golden age for America's wealthy renters must also come to an end. Nations told me she still hoped to buy a home one day. "I know how challenging it is to rent in Nashville, especially on your own," Nations told me.
Persons: Emily Nations, she's, Nicole Bachaud, Rich, Joel Sanders, Sanders, Doug Ressler, David Brasington, Ressler, they're, Organizations: Trinity, cabana, Nations, Analytics, University of Cincinnati, Census Locations: Nashville, downtown, Nations, New York, Salt Lake City, Atlanta, America, Houston, Austin, Phoenix, Charlotte, North Carolina, Raleigh , North Carolina, Tampa , Florida
UK general election: Why the economy is the key issue
  + stars: | 2024-06-04 | by ( Hanna Ziady | ) edition.cnn.com   time to read: +7 min
Sunak will likely point to falling inflation and a strengthening economy as proof that his plan to “restore economic stability” is working. Here’s what data shows has happened to wages, living standards, the value of the pound, house prices and waiting times for medical treatment on the NHS. “Poor income growth has been an unfortunate feature of economic life in the UK over the last 15 years. On average, households now spend more than 29% of their after-tax income on rent, up from 24% in 2010, according to Zoopla, a property company. NHS waiting lists have grown steadily since the onset of the Covid-19 pandemic, contributing to worker shortages in the UK.
Persons: Rishi Sunak, Keir Starmer, Tony Blair, Sunak, YouGov, Labour Party Keir Starmer, Jeff J Mitchell, Alastair Grant, Tom Waters, , , Nick Ridpath, Liz Truss, “ Brexit, Clare Lombardelli, Brexit Organizations: London CNN, Conservative Party of, European Union, Labour Party, Labour, National Health Service, Conservatives, Britain's, Institute for Fiscal Studies, Conservative, Bank of England, Office, National Statistics, NHS Locations: Ukraine, United Kingdom, , United States, Germany, Britain, England
Depending on where you live, what's considered a middle income may not actually afford you a middle class lifestyle. Still, over half of U.S. adults self-identify as middle class or upper-middle class, according to a 2024 Gallup Poll. The organization defines middle class as income between two-thirds and double the national median household income, after incomes have been adjusted for household size. Middle income residents make up 65% of the population in Dover, Delaware — the largest share of over 200 metropolitan areas Pew analyzed. There, you need to earn between $36,292 and $108,876 a year to be considered middle class.
Persons: what's Organizations: Pew Research, Pew, . Census, American, Survey Locations: U.S, Dover , Delaware
The 51-year-old has about $250,000 in student loan debt. Like 29% of US households, Pizza lives paycheck to paycheck, but her income is too high for most government assistance, per Census Bureau data and cost-of-living estimates analyzed by the nonprofit United Way. AdvertisementTeachers and adjunct professors are especially vulnerable to being ALICEs. Sixty percent of adjunct professors make less than $50,000 a year, despite most of them holding at least a master's degree, according to a 2022 report by The American Federation of Teachers that surveyed 1,900 adjunct professors across the US. "There are many teaching college who are hungry and can't go to the doctor," Pizza said in an email to Business Insider.
Persons: , ALICE, Pizza, She's, Paul, she's, Joe Biden's Organizations: Service, Business, The American Federation of Teachers, BI, SNAP Locations: Twin Cities, St
CNN —Many Americans may get hot under the collar when they open their electric bills this summer, but for some, the consequences of rising utility costs can be a lot more serious. He pointed to the National Weather Service’s prediction that much of the country will probably have above-normal temperatures this summer. The difference in projections stems from the association assuming higher rates of usage because of hotter temperatures, Wolfe said. The Low Income Home Energy Assistance Program, known as LIHEAP, has $4.1 billion to help consumers with heating and cooling costs, down from $6.1 billion in the prior fiscal year. “Because of the lack of a coherent policy to address summer cooling, people will die this summer from heatstroke,” Wolfe said.
Persons: Mark Wolfe, , Wolfe, Diana Hernandez, Hernandez, , ” Hernandez, arrearages, ” Wolfe Organizations: CNN, National Energy Assistance, Association, Center for Energy, US Energy Information Administration, Department of Health, Human Services, Energy, Columbia University, Income, Energy Assistance, US Census Bureau, District, Columbia, National Weather Service Locations: Pacific, Chicago, heatstroke
Fifteen Canadian veterans, including three or four that fought on D-Day, are traveling with the Canadian delegation, according to John Desrosiers, the director of international operations for Veterans Affairs Canada. US D-Day veterans attend an event at the Normandy American Cemetery and Memorial as part of the 79th anniversary D-Day celebrations on June 6, 2023. American and Canadian organizers told CNN that they will seat veterans last at their respective national ceremonies to keep them comfortable. The general public at the American event, for example, may need to be seated about an hour in advance due to security precautions. American troops march up from Omaha Beach on June 18, 1944.
Persons: Jake Tapper, , Jack Foy, Foy –, Foy, ” Foy, , Michel Delion, Mark, Katherine Sibilla, , Charles Djou, John Desrosiers, Desrosiers, Christopher Furlong, Joe Biden, Rishi Sunak, Justin Trudeau, Vladimir Putin, Volodymyr Zelensky, King Charles III, Queen Camilla, Prince William, Buckingham, Djou, Tom Schaffer, John Pinkerton, Schaffer, Gareth Fuller, Hitler, Ben, ” Brands, “ There’s Organizations: CNN, Chief Washington, Democracy, France CNN —, Mission, Joint Chiefs of Staff, Monuments Commission, Canadian, Veterans Affairs Canada, Cemetery, Memorial, British, French Interior Ministry, Defense, Underwood Archives, Ben Brands, , US Department of Veterans Affairs Locations: Caen, France, Ukraine, Europe, Normandy, US, United States, Belgium, Monaco, Netherlands, Norway, British, Ver, Mer, Omaha, Sword, Utah, Omaha and Utah, Nazi Germany, Omaha Beach, Germany, Colleville, Canada, American
Read previewArielle Francois, 24, would tell her past self it's fine to be nervous about making the move from South Florida to Dallas. Francois moved to Florida from Haiti because of the earthquake in 2010. Beyond scrolling through social media posts and apartment sites, there are also rent and costs to think about. Additionally, Francois said she feels it's more affordable to live in Dallas than South Florida for someone her age. "Because South Florida is so close to Haiti, you'll find a huge population of Haitians in South Florida," she said.
Persons: , Francois, hadn't, Arielle Francois Francois, Dallas, hasn't, Dallas I'm, you'll Organizations: Service, Business, Dallas, PMG, Facebook Locations: South Florida, Dallas, Miami, Florida, Haiti, Texas, PMG, Smart, Caribbean, Little Haiti
Dacus receives $854 a month, and her husband receives $1,286 a month, according to documents reviewed by Business Insider. Additionally, her household qualifies for $23 a month in SNAP benefits to buy food. "If we worked a 40-hour week from Monday through Friday with my income, it would come out to like $2 an hour," she said, comparing her Social Security income to a full-time work salary. And, if lawmakers don't intervene, the US Social Security fund is expected to dry out by the late 2030s. Sometimes, Dacus has to request an advance on her Social Security check to buy food because her SNAP benefits aren't enough.
Persons: , Mary Dacus, Stephen, Dacus, ALICEs, — Dacus, we'll, Robinson Organizations: Service, Business, Income, Alliance for Lifetime, Survey, US Social Security, Medicare, SNAP, Social Security Locations: Robinson , Illinois, McDonald's, Blytheville , Arkansas, Dacus, Florida
Rent costs across U.S. continue to fluctuate, but there are some major areas where prices are trending up year-over-year. California is the only state with two metro areas in the top five. The rise in rent for one-bedroom apartments in California's Stockton metro area was similar, going from $1,161 in 2023 to $1,175 in 2024 — a 1.2% increase. It is important to note that the Census Bureau defines the Albuquerque, New Mexico metro area to be part of the core-based statistical area of Albuquerque-Santa-Fe-Las Vegas, New Mexico combined statistical area, falling under the southwest and western regions of the United States. Despite the nationwide median rent trending down year-over-year, the following metro areas in the western U.S. have seen the highest increases in rent for 1-bedroom apartments, similar to several areas in the Northeast.
Organizations: U.S, CNBC, Census, Thousand, Venture, Stockton , California metros, Thousand Oaks Locations: California, Oxnard, Stockton , California, Ventura, Los Angeles, California's Stockton, Albuquerque, New Mexico, Santa, Las Vegas , New Mexico, United States, U.S
New York City is the No. 10 city where homeowners are paying more than renters, according to a May SmartAsset report. The report assessed the difference in monthly costs between owning a home and renting in 343 cities with a population of over 100,000 people. In the top two cities, Berkeley and California, owning costs are up to $2,000 or more per month compared to renting. Homeowners in these areas often pay twice as much as renters, the report states.
Organizations: New, Survey Locations: U.S, New York City, California, Berkeley
Federal graduate school loans are more expensive, too, with higher interest rates than loans for undergraduate studies. On top of that, 55% of master's degree-holders have debt from both their undergraduate and graduate studies, owing an average total of over $69,000. Similar to undergraduate degrees, science, technology, engineering and math-related master's degrees tend to lead to higher-paying salaries compared with degrees in the arts and humanities. That said, these are the 10 master's degrees with the highest average starting salaries for the class of 2022, according to the National Association of Colleges and Employers. In fact, fewer than 60% of master's degree programs deliver a positive return on investment, according to a recent study by The Foundation for Research on Equal Opportunity.
Persons: FREOPP Organizations: Bureau of Labor Statistics, National Center for Education Statistics, Federal, National Association of Colleges, Computer, Liberal, The Foundation, Research, Education's, CNBC
However, the average millennial reported roughly $63,000 in retirement savings so far. While millennials will need more money to retire comfortably, many are far away from the savings milestone experts suggest. What's more, the future of the US Social Security system is uncertain, and longer expected lifespans — while a positive development — will require more retirement savings. How to figure out how much retirement savings you needTiffany Bell, a 36-year-old business management professional based in Houston, didn't always take retirement savings seriously. How millennials can get their retirement savings back on trackWhile some millennials are struggling financially, it's not all doom and gloom when it comes to their retirement prospects.
Persons: Nathaniel Hudson, Hartman, millennials, Tiffany Bell, didn't, Bell, she's, they're, Chris Chen, Chen, Judi Leahy, it's, Leahy, NerdWallet, Bell —, , X, What's, Nilay Gandhi, Roth, Rita Assaf, Assaf, Gandhi Organizations: Business, Northwestern Mutual, Pew, US Social Security, Fidelity, Financial, Citi, Wealth Management, Vanguard, Big, CFP, Roth IRA, Fidelity Investments, Savings, Hudson Locations: Portland, Houston, New York, Montana
The documentary chronicles the rise and fall of the movie-ticket-subscription company MoviePass, and is based on award-winning reporting from Business Insider . The big storyRetirement mathGetty Images;Alyssa Powell/BIFor some millennials, the reality of their retirement plans is that they're a fantasy. AdvertisementIt's not the first time we've gotten troubling data about millennials' retirement plans. But it's not just a lack of savings working against millennials' plans of riding off into the retirement sunset. AdvertisementAnd if you're hoping for a Hail Mary in the form of a fat inheritance to jumpstart your retirement plans, that's not looking great either.
Persons: , MovieCrash, Alyssa Powell, Jacob Zinkula, William Edwards, we've, it's, millennials, Hail Mary, that's, Juliana Kaplan, It's, Johannes Simon, Neel Kashkari, Sam Altman, Justin Sullivan, Oliver Mulherin, Scarlett Johansson, Altman, Jensen Huang, Adam Neumann, Neumann, WeWork, Moviegoing, there's, BI's Peter Kafka, Sheryl Sandberg, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover Organizations: Service, HBO, Max, Business, Hail, Reserve Survey, Consumer, Wall, Minneapolis, UBS, Google, Nvidia, BI, Hollywood, HP Locations: Swiss, BI Denmark, New York, London
With former President Donald Trump highly likely to win Montana in November, many Republicans believe he'll be able to aid down-ballot candidates like Sheehy. AdvertisementTester, a moderate Democrat, has established a political brand that has defied the state's GOP orientation for nearly 20 years. Greg Gianforte, the Montana legislature passed housing and land-use reform bills that overhauled the construction process — and now permit more housing density. The issue is sure to be a major issue for Tester — as well as the eventual GOP Senate nominee — for a state in transition. National Republicans see Montana as one of their best opportunities to win a "red" seat, especially as many transplants left Democratic-dominated coastal states for a more rustic environment.
Persons: , Jon Tester, Tim Sheehy, Donald Trump, he'll, Sheehy, it's, Greg Gianforte, Tester Organizations: Service, Senate, GOP, Business, Montana, The New York Times, Census Bureau, GOP Gov, eventual, National Republicans, Democratic, Democrats, Republicans Locations: Montana, California , Oregon, Washington, Bozeman, RVs
She said nearly everything is more expensive in St. Louis compared to Dallas, from groceries to gas to various taxes. Census data shows that between 2021 and 2022, about 494,000 people moved out of Texas, while over 668,300 people moved in. Nearly 9,200 people moved from Texas to Missouri during this period. AdvertisementTheir son attended the University of Missouri, where her husband went, and he settled in St. Louis. AdvertisementThey looked around St. Louis for two years but couldn't find much on the market.
Persons: Donna, Louis, Missouri Donna, St . Louis, It's, didn't, she's, She's, it'll Organizations: Service, Texans, Lone Star State, University of Minnesota's, Texas, Air Force, University of Missouri Locations: Dallas, Fort Worth, St, Texas, Missouri, Europe, St .
According to a May Zumper report, the national median rent for a one-bedroom apartment is $1,487. The New York-Newark-Jersey City metro area saw the average rent for a one-bedroom apartment go from $1,991 in 2023 to $2,008 in 2024, an increase of only $17 or 0.9%. Connecticut has the most metro areas with the biggest rent increase for one-bedroom apartments — four out of the top five. This includes one statistical area that covers part of northeastern Connecticut and a swath of Massachusetts including Worcester. Connecticut is also the only state in the Northeast region to have multiple metro areas in the top 20.
Organizations: CNBC, Census, New York City Locations: United States, New York, Los Angeles, Newark, Jersey City, Connecticut, Massachusetts, Worcester . Connecticut, New York City, Boston, Providence , Rhode Island
However, this criteria leaves low-income households who don't qualify relying on thinly stretched grocery budgets, food pantries, or employer meal discounts. Many ALICEs worry their family will go hungry, but they're running out of options to put food on the table. AdvertisementKelley also said she doesn't live near many food pantries and has to drive long distances to reach a grocery store or Walmart. AdvertisementDo you live paycheck to paycheck? Are you open to sharing how you afford food, housing, and other expenses?
Persons: , Cherie Tobias, Tobias, She's, ALICE —, she's, ALICE, Melinda Binkley, Binkley, Lisa Kelley, Kelley, Melissa Hedden, Hedden, it's, isn't Organizations: Service, Business, SNAP, Cincinnati, Walmart, BI Locations: Applebee's, Hastings , Michigan, Stillwater , Minnesota, Wilmington , North Carolina
The 2024 U.S. News & World Report list of the Best Places to Live in the US, which was released Tuesday, ranks 150 major cities based on their quality of life, education, crime rates, employment opportunities, and housing. Business Insider mapped the top 50 best places to live, with the top 15 colored dark blue. Southeastern Florida cities like Miami and Fort Lauderdale normally get most of the love from movers outside the state — or even the country. But this year, it's the western part of the peninsula that's well-represented on the list of best places to live. Many have been moving to Arizona, Florida, Texas, and Washington, citing factors such as high home prices, the climate crisis, and politics.
Persons: , Fort, Austin Organizations: Service, U.S . News, Places, Business, Sunshine State, Fort Collins, Council for Community, Economic Research, State Locations: U.S, Florida , Colorado, North Carolina, Northeast, Southwest, Florida, Colorado, Naples, Sarasota, Pensacola , Tampa, Fort Myers, Melbourne, Naples , Florida, Boise , Idaho, Southeastern Florida, Miami, Fort Lauderdale, Tampa, Colorado Springs, Boulder, Denver, Tennessee, South Carolina, Kentucky, Georgia, Alabama, Buffalo , Pittsburgh, Portland, Davenport , Iowa, Omaha, Lincoln, Texas, California, Austin, McAllen, McAllen , Texas, Francisco, San Diego . Washington , Oregon , Idaho , Nevada, Utah, Arizona , Florida , Texas, Washington
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