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☆ How a rare type of mortgage is landing homebuyers a 3% rate
▼ + stars: | 2024-10-15 | by ( Devan Burris | ) www.cnbc.com time to read: +2 min

As mortgage rates stagnate around 6%, prospective homebuyers are feeling nostalgic for the 3% interest rates of 2020 and 2021. Google search results for the term "assumable mortgage" spiked in May, following a steady upward trend starting in 2022. Mortgage assumptions allow buyers to take over an existing mortgage at its current rate, possibly securing mortgage rates as low as 2% or 3% depending on when the original mortgage was taken out. Mortgage assumptions were a popular way to buy a house in the 1970s and 1980s but have largely fallen out of public consciousness. Watch the video above to learn more about assumable mortgages, how they work, and why they can come with their own set of hurdles.

Persons: Germain, Raunaq Singh, that's Organizations: Google, Veterans Affairs, Federal Housing Administration, United States Department, FHA Locations: St, U.S

☆ 15 U.S. states where you can retire comfortably on less than $65,000 a year
▼ + stars: | 2024-10-15 | by ( Mike Winters | ) www.cnbc.com time to read: +1 min

That's because the annual cost of living can vary by over $71,000 between U.S. states, according to a recent GOBankingRates analysis. Hawaii has the highest average retirement expenses, with an estimated $129,296 a year needed to retire comfortably. In states where housing is in short supply — like Hawaii, California, Massachusetts — the annual cost of retirement exceeds six figures. That said, there are 20 states where you can still retire on or under $65,000. Below is a list of states where annual retirement expenses are $65,000 or less, in alphabetical order.

Persons: you'll Organizations: Labor Statistics Locations: Hawaii, West Virginia, Hawaii , California , Massachusetts

☆ Kamala Harris wants to expand student-loan forgiveness for 10,000 doctors and nurses who agree to work in rural areas
▼ + stars: | 2024-10-15 | by ( Ayelet Sheffey | Juliana Kaplan | ) www.businessinsider.com time to read: +5 min

Vice President Kamala Harris proposed an initiative to expand healthcare in rural communities. It includes recruiting 10,000 more healthcare workers to rural areas and expanding their student-debt relief options. Trump held the lead over rural voters in 2020, gearing up for a fight this election cycle. According to her campaign, Harris plans to recruit 10,000 healthcare professionals to work in rural and tribal areas. Advertisement"They both understand that rural voters are the foundation of our country, and they want rural voters to know that they have a home in their campaign - that is fundamentally about patriotism, freedom and opportunity," Hildreth said.

Persons: Kamala Harris, Trump, —, Harris, it's, Matthew Hildreth, Walz, Hildreth, Donald Trump, — Harris, Tim Walz, Anna Kelly, Kelly Organizations: Service, Public, U.S . Department of Health, Human Services, HHS, Research, General Internal Medicine, Bureau of Labor Statistics, Trump, Republican National Committee Locations: USA

☆ The Smart Investor: China's property market crisis 'very overwhelming'
▼ + stars: | 2024-10-15 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe Smart Investor: China's property market crisis 'very overwhelming'David Kuo from The Smart Investor discusses the latest stimulus measures announced by the MOF and emphasizes the need for the Chinese government to address the current housing market crisis.

Persons: David Kuo Organizations: Smart Investor

☆ The Panda Factories
▼ + stars: | 2024-10-15 | by ( Mara Hvistendahl | Joy Dong | ) www.nytimes.com time to read: +30 min

They show that, from the beginning, zoos saw panda cubs as a pathway to visitors, prestige and merchandise sales. Panda keepers with cubs at the Chengdu Research Base of Giant Panda Breeding, in China, in 2022. A Chinese giant panda at the Panda Park in Al Khor, in Qatar, in 2022. Smithsonian Institution Archives A panda wakes up from anesthesia in March 1999 during a seminal study by American and Chinese researchers into panda breeding. Smithsonian Institution Archives Giant panda Mei Xiang taken out of the China Conservation and Research Center for the Giant Panda in Wolong, Sichuan Province, in 2000, for shipment to the National Zoo in Washington.

Persons: Ariana Drehsler, Kati Loeffler, “, ’, Loeffler, Kimberly Terrell, ”, Terrell, Soraya, Xin Bao, zookeepers, Richard M, Nixon, Pat Nixon, Annalisa Meyer, Melissa Songer, Heather Bacon, Bacon, Don Kohlbauer, JoGayle Howard, Darting, Howard, Ping Ping, Thomas Hildebrandt, Dr, Hildebrandt, Lei Lei, Meyer, Lung Yuan Chih, Lung, James Ayala, . Hildebrandt, Ayala, interjected, Mei Xiang, Ken Cedeno, Tian Tian, Xiang, David Wildt, Mei, Mei Xiang vomited, Qi Ji, Agnes Bun, scrawled, Pierre Comizzoli, Mads Frost Bertelsen, Meng Lan, Su Weizhong Organizations: Zoo Washington, Factories, Chengdu Research Base, Archives San Diego Zoo, The New York Times Chengdu Research Base, China, National Zoo, New York Times, Smithsonian Institution, Times, Pandas, Agence France, Memphis Zoo, Tulane University, Smithsonian, San Diego Zoo, The New York, Smithsonian . Pandas, Zoo, Associated Press, University of Central, Bear Care Group, China Conservation and Research Center, San Diego Union Tribune, Feature, Future Publishing, Getty, U.S . Fish, Wildlife Service, ”, Leibniz Institute for Zoo, Wildlife Research, National Zoo Washington, Institution Archives Chengdu Research Base, Breed, The New York Times, Beijing Zoo, Tsinghua University, Animal Studies, Visitors, New York Times China Conservation and Research Center, Smithsonian National, Associated, Smithsonian’s, and Wildlife Service, National, Fujifilm, Smithsonian Institution Archives, Reuters, Smithsonian Channel, “, Copenhagen Zoo Locations: China, Chengdu, Sichuan, Archives San Diego Zoo California, Washington, Louisiana, Japan, San Diego, San Francisco, Indonesia, Qatar, Al Khor, University of Central Lancashire, England, U.S, San, Fuzhou, United States, Feature China, Sichuan Province, Beijing, Berlin ., Wolong, Taiwan, American, estrus, New York Times China, Europe, Washington ,, Washington , DC, Beijing Zoo Beijing

Vice President Kamala Harris’ campaign laid out what it sees as her path to victory in Pennsylvania in a memo shared exclusively with NBC News ahead of Monday night’s rally in bellwether Erie County. “The Harris campaign’s path to win Pennsylvania capitalizes on Trump’s unprecedented weakness in the suburbs,” the memo, which also highlighted the campaign’s focus on Haley voters, reads. “They can point to the suburbs, but they’re losing ground in places like Philadelphia,” a Trump campaign official said. Kush Desai, the Trump campaign’s Pennsylvania spokesperson, highlighted Obama’s visit as a sign the Harris team was scrambling. Speaking with NBC News, Pennsylvania state Sen. Vincent Hughes said he could “understand the frustration” Obama expressed.

Persons: Kamala Harris ’, Harris, Joe Biden’s, Nikki Haley, Donald Trump, “, Haley, Trump, Brendan McPhillips, Tim Walz, Hillary Clinton, McPhillips, ”, Biden, Elon, It’s, We’ve, Barack, Obama, They’ve, Kush Desai, isn’t, ” Desai, ” Obama, Sen, Vincent Hughes, Let’s, Donald Trump’s, He’s, ” Hughes, it’s Organizations: NBC, Democratic, Pennsylvania, Trump, Philadelphia Inquirer, New York Times, Siena College, Marist College, Biden, Quinnipiac University, Times, Street, Minnesota Gov, America PAC, Trump campaign’s, Black, undecideds, NBC News Locations: Pennsylvania, bellwether Erie County, Siena, reddest, Harris ’ Pennsylvania, Johnstown, Lancaster, Rochester, Philadelphia, Bucks, Luzerne, Beaver, Trump, Pittsburgh

A group of protesters staged at a sit-in outside the New York Stock Exchange on Monday morning amid Israeli attacks in Gaza. A number of arrests were made, the spokesperson said, but an exact figure could not immediately be obtained. "As Gaza is bombed, Wall Street booms," Jewish Voices for Peace said in a post on X. The Israeli conflict last week passed the first anniversary of the deadly Oct. 7 attacks by Hamas militants. Early Monday, a fire broke out in an encampment housing displaced civilians following Israeli attacks in the courtyard of Al-Aqsa Martyrs Hospital in central Gaza.

Persons: Peace, Benjamin Netanyahu, mulling Organizations: New York Stock Exchange, Jewish, for, New York Police, NYSE, NBC, ., FEMA, Aqsa Martyrs Hospital, Associated Press Locations: Gaza, Jewish, Broad, U.S, Al, Aqsa

Kamala Harris and Donald Trump are in a closely divided campaign for white women. Trump, Harris and the battle for white womenGetty Images; APWhite women helped Trump win in 2020. Dr. Theresa Wheeling had always been a registered Republican and voted for Donald Trump during the 2020 presidential election. ➡️ Authorities are investigating after a man with guns in his vehicle was arrested after he was stopped at a checkpoint near a campaign rally for Donald Trump. ➡️ Donald Trump is ramping up his rhetoric depicting his political rivals and critics as criminals.

Persons: Kamala Harris, Donald Trump, Harris, Theresa Wheeling, Roe, she’s, “, ”, Read, ➡️ Donald Trump, ➡️, ➡️ Kamala Harris ’, Joe Biden, ➡️ Harris, Trump, Daniel Hagari, Jasmine Cui, NFL Brad Penner, Caleb Williams, Greg Rosenstein, 🩹, ⚡, J, mak Organizations: NFL, Trump, Voters, Republican, ” Wheeling, NBC News, GOP, NBC, IDF, Aqsa Martyrs Hospital, Dallas Cowboys, Detroit Lions, Lions, Chicago Bears, Jacksonville Jaguars, ards, Cal, U SC, Wea Locations: Wade, Wheeling, Pennsylvania, North Carolina, Gaza, Al, Aqsa, Deir al, Israel, U.S, 🙌T, 5 s

☆ Middle-class new homeowners are increasingly cost-burdened
▼ + stars: | 2024-10-14 | by ( Jasmine Cui | Jasmine Cui Is A Reporter For Nbc News. | ) www.nbcnews.com time to read: +4 min

“It used to be that if you made the median income, you could afford the median-priced house,” said Domonic Purviance, a housing expert at the Atlanta Federal Reserve. Their mortgage rate was 8.125% — above the roughly 7% national average at the time, which was hovering near 20-year highs. While that ratio is less than the cost-burdened 30% threshold, it has doubled in the area in just the last three years. From 2013 to 2023, the median annual household income in the U.S. has risen 50%, to $80,610. For example, McCue said, cost-burdened homeowners may struggle to keep up with home maintenance, leading to unhealthy or unsafe living environments.

Persons: ”, Domonic Purviance, “ That’s, Haley, Ben Williams, “, ” Ben, they’d, Daniel McCue, haven’t, It’s, McCue, “ You’re, Haley Williams, “ I’ve Organizations: Atlanta Federal Reserve, Homes, NBC, Harvard University’s, for Housing Studies, Atlanta Fed, Federal Reserve Locations: Elkhart , Indiana, Elkhart, Chicago, U.S

☆ UBS' Thomas Fang and The Smart Investor's David Kuo debate China's stimulus promises
▼ + stars: | 2024-10-14 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailUBS' Thomas Fang and The Smart Investor's David Kuo debate China's stimulus promisesDavid Kuo from The Smart Investor and Thomas Fang, Head of China global markets at UBS discuss the Chinese Finance Minister's press conference on the highly anticipated fiscal stimulus and its impact on the country's struggling housing market.

Persons: Thomas Fang, David Kuo Organizations: UBS, Smart Investor, Finance Locations: China

☆ Meet these retired sisters in their 60s who live on cruises full-time. They've already spent over 1,500 days at sea.
▼ + stars: | 2024-10-14 | by ( Jill Schildhouse | ) www.businessinsider.com time to read: +5 min

Both sisters are retired and single and have collectively spent 1,500 days at sea so far. Each already booked their spots on 2025 Holland America Line cruises that are over 100 days long. "I kept taking cruises of longer lengths — 30 days, then 45, then 80, and learned I liked long stretches at sea," Johnston told Business Insider. Although the sisters don't always travel together, they've collectively spent over 1,500 days at sea — many of them on Holland America Line ships. Without all of that, I have a lot more money to spend on travel," Johnston told BI.

Persons: Jo Johnston, Elaine Durham, —, Johnston, they've, They've, — Johnston, wouldn't, Durham, would've, she's, — they've, I've Organizations: America Line, Service, Business, Holland America, Holland America Line's, BI Locations: America, Holland, Durham, Barcelona, Europe, Canada, New England

☆ True Value declares bankruptcy and sells itself to a hardware rival
▼ + stars: | 2024-10-14 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +2 min

New York CNN —True Value, a 75-year old hardware store brand, has filed for bankruptcy and is selling substantially all of its operations to a rival, the company announced Monday. True Value said its stores will remain open, because they are not part of the bankruptcy proceedings. In bankruptcy court filings, True Value said it faces a significant cash crunch as the housing market stalled and consumers have become far more picky about discretionary purchases like hardware. Bigger rivals like Home Depot and Lowe’s have also been in a yearslong slump since the pandemic boom, but they remain in a significantly stronger financial situation than True Value. Do it Best is a member-owned wholesaler that sells hardware, lumber and other home goods to independent stores.

Persons: ”, Chris Kempa, Dan Starr, there’s Organizations: New, New York CNN, Home Locations: New York

☆ Dollar extends gains while investors parse China's stimulus plans
▼ + stars: | 2024-10-14 | by ( ) www.cnbc.com time to read: +4 min

The dollar extended its gains in early Monday trades in Asia as a holiday in Japan sapped liquidity, leaving China's somewhat disappointing weekend stimulus announcements the focus of market attention. The dollar extended its gains in early Monday trades in Asia as a holiday in Japan sapped liquidity, leaving China's somewhat disappointing weekend stimulus announcements the focus of market attention. "Markets are likely disappointed that China's Finance Ministry did not unveil concrete additional stimulus," said Richard Franulovich, head of FX strategy at Westpac, in a note. The yuan is down 0.9% against the dollar since Sept. 24, when the People's Bank of China kicked off China's most aggressive stimulus measures since the pandemic. The yen and euro both fell around 0.3% each, sterling shed 0.4% and the dollar index climbed 0.4%.

Persons: Lan Foan, Richard Franulovich, Christopher Wong, Christopher Waller Organizations: Federal Reserve, Finance, China's Finance Ministry, Westpac, People's Bank of China, CSI, Fed, Traders, New Zealand Locations: Asia, Japan, China, Singapore, U.S, United States

☆ China property stocks jump after Beijing proposes measures to lift troubled sector
▼ + stars: | 2024-10-14 | by ( Anniek Bao | In | ) www.cnbc.com time to read: +2 min

China property stocks jumped Monday after Beijing layed out more support measures over the weekend to shore up the troubled sector. While the Hang Seng Index was last down 0.4% in volatile trading Monday, the Hang Seng Mainland Properties Index rose over 2%. Shares of other real estate developers also saw significant gains, including China Overseas Land & Investment and Yuexiu Property gaining nearly 7% and 6%, respectively. Real estate was also the leading gainer in Mainland China's CSI 300, advancing nearly 5%, while the broader index was up 2%. The rally came after China's Ministry of Finance outlined new policy measures focused on stabilizing the beleaguered real estate sector.

Persons: Tommy Xie, Leonard Law Organizations: China Jinmao Holdings Group Ltd, Beijing, Mainland, China Resources, China Overseas Land & Investment, Yuexiu, China's CSI, China's Ministry, Finance, OCBC Bank, Lucror Analytics, CNBC Locations: Jinmao, Shanghai, China, China's, Asia

But mortgage rates are expected to go down next year, so it could be worth waiting if you aren't in a rush. 5-Year Mortgage Rate TrendsHere's how 30-year and 15-year mortgage rates have trended over the last five years, according to Freddie Mac data. Mortgage rates are determined by a variety of different factors, including larger economic trends, Federal Reserve policy, your state's current mortgage rates, the type of loan you're getting, and your personal financial profile. But now that inflation has decelerated and the Fed is expected to cut rates soon, mortgage rates have trended down. This means your entire monthly mortgage payment, including taxes and insurance, shouldn't exceed 28% of your pre-tax monthly income.

Persons: they're, you'll, they've, Freddie Mac, it's, Fannie Mae Organizations: Zillow, ARM, Federal Housing Administration, Department of Veterans Affairs, Fed, Mortgage, Association Locations: Chevron

☆ Pro-Palestine protestors cause disturbance outside the New York Stock Exchange
▼ + stars: | 2024-10-14 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

A pro-Palestinian protest erupted outside of the New York Stock Exchange on Monday. There was no disruption to trading and none of the protestors appeared to make it to the historic trading floor. NYSE security fences off a perimeter area outside of the exterior of the building on Broad street in lower Manhattan. According to video shared on social media, the group, called Jewish Voice for Peace, broke into that area and protestors were chaining themselves to the security fence and some exterior doors. The exchange has had heavy security in place since the 9/11 attacks on the World Trade Center buildings nearby.

Persons: —, Bob Pisani Organizations: New York Stock Exchange, Peace, NYSE, World Trade Center Locations: Manhattan, Israel, Gaza

☆ Bank of America thinks this senior housing stock trouncing the market has another 50% run to go
▼ + stars: | 2024-10-14 | by ( Sean Conlon | ) www.cnbc.com time to read: +2 min

Unappreciated aspects of Welltower , a real estate investment trust, or REIT, that invests in health-care infrastructure, are likely to translate into long-term growth ahead, according to Bank of America. Analyst Joshua Dennerlein reiterated his buy rating on the S & P 500 company, which owns senior housing as well as post-acute care and outpatient medical facilities. He also increased his price target by $61 to $190, the highest on the Street, according to FactSet, which implies nearly 52% upside from Friday's close. This year, the stock has been on a monster run, soaring about 41%, excluding reinvested dividends, versus 22.5% for the S & P 500. The Bank of America recommendation joins several other analysts on Wall Street who are bullish on Welltower.

Persons: Joshua Dennerlein, Welltower, Dennerlein, — Organizations: Bank of America, of, Wall Locations: Toledo , Ohio

☆ Here's who would benefit from Trump's proposed tax break on car loan interest
▼ + stars: | 2024-10-14 | by ( Greg Iacurci | ) www.cnbc.com time to read: +5 min

Trump's proposed tax break would make interest on car loans fully tax deductible. That tax break lets homeowners deduct annual mortgage interest payments from their taxable income, thereby reducing their tax bill. Few taxpayers claim itemized tax deductionsTo get the deduction, car owners would need to itemize their tax return to include their borrowing costs. About 14.8 million federal tax returns, or about 9%, claimed an itemized deduction on their 2021 federal tax returns, according to the most recent IRS data. An itemized tax break on car loan interest "would help only a fraction of taxpayers," said Leonard Burman, an institute fellow at the Urban-Brookings Tax Policy Center.

Persons: Donald Trump, Sarah Rice, Trump's, Experian, It'd, Seiberg, Trump, didn't, Erica York, —, Leonard Burman, Burman, York, it'd Organizations: Detroit Economic, Bloomberg, Getty Images, Federal Reserve Bank of New, AAA, Trump, Cowen Washington Research Group, Republicans, CNBC, Finance, Social Security, Taxpayers, Tax, Center, Federal Tax, Urban, Brookings Tax Locations: Federal Reserve Bank of New York, Detroit, York

☆ The stock market has officially enjoyed a bull rally for over two years. So now what?
▼ + stars: | 2024-10-14 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, the stock market has officially enjoyed a bull rally for over two years. The big storyBullish on the bull marketNoam Galai/Getty ImagesHappy belated birthday to the stock market's bull rally! Stock market experts who spoke with Business Insider's Matthew Fox don't see things slowing down anytime soon . In fact, the average bull market lasts longer than five years, so we might not even be halfway to the finish line. The actual stock market is healthier, too, as it's no longer reliant on the Magnificent Seven's performance.

Persons: —, Noam Galai, Insider's Matthew Fox, Chelsea Jia Feng, we've, Alex Brandon, Jamie Dimon, Ken Griffin, he's, Republican megadonor hasn't, BlackRock, Jett Lara, Augustus Doricko, Doricko, Roblox, Natalie Ammari, Inflation's, Z's, It's Elliott Hill's, Hill, It's, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Milan Sehmbi, Amanda Yen Organizations: Business, Service, Nasdaq, Dow Jones, Stock, Insider's, JPMorgan, Republican, Citadel, Wall, Menlo Ventures, Nike, Columbus, District of Columbia Locations: Chelsea, Ukraine, El Segundo , California, a16z, New York, it's, Italian American, London

☆ For God, for country, for rain
▼ + stars: | 2024-10-14 | by ( Jessica Lucas | ) www.businessinsider.com time to read: +24 min

It's 9:30 a.m., and Augustus Doricko, the mulleted 24-year-old founder of the cloud-seeding company Rainmaker, is clutching a coffee. There's a long way to go before cloud seeding becomes a viable option for solving one of humanity's many self-made crises. El Segundo, population 17,272, has long been a bastion of American engineering, home to aerospace and defense giants like Boeing and Raytheon. Jett Lara for BIThe burning happens every Friday around 8 p.m. at a bonfire on El Segundo Beach. One of Doricko's goals is to build a church in El Segundo to "share the grace of God with other people."

Persons: Augustus Doricko, Bruno Mars, Doricko, Jessica, I'd, Jesus, He'd, that's, Rainmaker, Lauren Sánchez, Jett Lara, Billy Ray Cyrus, God, Augustus Doricko Doricko's, Cameron Schiller, Augustus, Schiller, El, That's, it's, El Segundo, Elon Musk, Isaiah Taylor, Doricko's, Taylor, Rob Coutts, —, Jesus of Nazareth, Zer, he'd, Jason Flynt, Flynt, Terra, Michael Gibson, Sarah Tessendorf's, messaged Gibson, Michael, Gibson, Thiel, Peter Thiel, I'm, Katja Friedrich, Friedrich, Friedrich isn't, Jonathan Jennings, Kaitlyn Suski, dumbbells, Jackson Schultz, Elijah, birdsong, Schultz, We're, coffees, Mankind Organizations: MGM, Association, Aspen Ideas, Global Initiative, BI, El, Boeing, Raytheon, Space Industries, Chevrolet, Stamford Yacht Club, New Zealand, University of California, BI Doricko, drillers, Terra Seco, Thiel Foundation, Terra, tech's, Weather Locations: Vegas, Tennessee, El Segundo, Los Angeles, America, Silicon, Santa Clarita, Rainmaker, Beijing, Colorado, California, Smoky, El Segundo Beach, North Carolina, Texas, Stamford , Connecticut, New, Costa, Berkeley, Christianity, Fort Worth , Texas, Terra Seco, drawdowns, Lake Mead, Las Vegas, Phoenix, Juul, Fresno, San Jose, Dubai, UAE, Midwest, West Texas, New Mexico , Arizona , Nevada, Amsterdam, Milan

☆ China's Ministry of Finance is taking aim at local debt problems before tackling broader economic challenges
▼ + stars: | 2024-10-14 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +3 min

Nurphoto | Nurphoto | Getty ImagesBEIJING — China's Ministry of Finance press briefing over the weekend underscored how it is focused on tackling local government debt problems, instead of the stimulus markets have been waiting for. In his opening remarks on Saturday, Minister of Finance Lan Fo'an laid out four measures, starting with increasing support for local governments in resolving debt risks. China's real estate market slump has cut into a significant source of revenue for local governments, many of which struggled financially even before needing to spend on Covid-19 measures. He added that a large plan to address local governments' hidden debt would be announced in the near future, without specifying when. Historically, local governments were responsible for more than 85% of expenditure but only received about 60% of tax revenue, Rhodium Group said in 2021.

Persons: Finance Lan Fo'an, Lan, Robin Xing, Morgan Stanley Organizations: Goldin Finance, Nurphoto, Getty, BEIJING, China's Ministry, Finance, Ministry of Finance, International Monetary Fund Locations: Tianjin, China, Covid

☆ Florida residents weigh whether to leave after destructive storms
▼ + stars: | 2024-10-14 | by ( Samantha Delouya | ) edition.cnn.com time to read: +7 min

Then, in late September, Hurricane Helene flooded the rental home she now shares with her husband and 10-month-old baby. The storm made landfall as a Category 3 hurricane in the Siesta Key area of Florida, causing damage and flooding throughout Central Florida. According to Bankrate, the average annual homeowners insurance premium in Florida is $3,242 more than the national average. But traditional homeowners’ insurance doesn’t cover flood damage. Most of the water damage sustained from Helene would be covered by flood insurance, often provided by the National Flood Insurance Program, and backed by the government.

Persons: Idalia, Rachel Muse, Connealy, Hurricane Helene, ”, “, Hurricane Milton, Joe Raedle, Josh Hanoud, Hanoud, hasn’t, “ We’ve, what’s, “ I’m, Tina Villanueva, Villanueva, Helene, Milton, Bankrate, Hurricane Helene, Maria, Rebecca Blackwell, there’s, Chuck Nyce, Nyce, CoreLogic, G, Michael Harris ’, Harris, Michael Harris, ” Harris, “ I’ve, we’ve Organizations: CNN, Hurricane, Hurricane Milton, Florida State University, National Flood Insurance, Insurance Information Institute Locations: St . Petersburg , Florida, “, Hurricane Milton, Tampa, Florida, Hurricane, Punta Gorda , Florida, Central Florida, Zillow . Florida, Bradenton Beach, Maria Island , Florida, Belleair , Florida, Belleair

Bridgette Bello thought she’d taken proper precautions to protect against Florida’s notorious hurricanes, having purchased flood insurance as well as a separate hurricane-specific policy, in addition to her regular homeowners coverage. That’s because flooding caused much of the property damage — and most homeowners insurance policies do not cover any flood impact. A resident cleans the front of his mobile home in Sarasota, Fla., on Oct. 10 after Hurricane Milton. Eva Marie Uzcategui / The Washington Post - Getty ImThe insurance industry is categorizing Hurricane Helene as an almost entirely flood-driven event. The National Flood Insurance Program (NFIP), the government-backed plan covering 95% of flood insurance policyholders in America, only covers losses up to 50% of what it deems a property to be worth — not including the land that the property sits on.

Persons: Bridgette Bello, she’d, Helene, —, Milton, Bello, ”, “, Rick Tutwiler, Hurricane Milton, Eva Marie Uzcategui, Amy Bach, Mark Friedlander, Friedlander, adjusters, ” Friedlander, ” Patti Drew’s, Deborah, Drew, didn’t, “ I’m, Shane Ostrander, Ostrander, Kathleen Flynn, she’s, Martin Weiss, Weiss, Chip LaMarca Organizations: Associates, NBC, Hurricane, Washington Post, Insurance Information Institute, Federal Emergency Management Agency, FEMA, Flood Insurance, NBC News, “, Broward County Republican Locations: Madeira Beach, Tampa, Milton, Florida, Sarasota , Fla, “, Punta Gorda, Florida’s, Charlotte County, America, Fort Pierce, Fla, Orlando, Broward County

Almost half of young women have at least a bachelor’s degree compared to 37% of young men. That compares to 2008, when Barack Obama won the votes of 66% of young men. One of the biggest financial pressure points for young men has been higher rents, which are up around 20% since 2020. Young men are more likely to be financially dependent on their parents compared to young women, with 74% of women describing themselves as mostly financially independent compared to 62% of young men, according to a Pew survey. I think Trump will do better with young men than among young women — the gap will be pretty significant in terms of voter support — but I don’t think Trump’s going to win an overwhelming majority.

Persons: David Tasker, he’s, Donald Trump, “ Trump, Kamala, ” Tasker, ” Young, Tasker, it’s, ”, Dan Cox, Andrew Caballero, Reynolds, Richard Reeves, Reeves, “, Young, Kamala Harris, Harris, Barack Obama, Trump, Joe Biden, He’s, Melissa Deckman, Gen Z, they’re, Hulk Hogan, Chip Somodevilla, Hogan, Obama, “ I’m, I’ve, ” Obama, Spencer Platt, Biden, ” Reeves, Derek, You’ve, Sam Lilly, Lilly, “ I’ve, Emily Elconin, “ It’s, Cox Organizations: America, Democratic, Survey Center, American Enterprise Institute, Pew Research Institute, Renwick, Washington , D.C, AFP, Getty, American Institute for Boys, Democratic Party, Harvard Institute of Politics, Republican National Convention, Trump, Bank of America, Intuit Credit Karma, NBC, Bloomberg Locations: Pennsylvania, America, Washington ,, Milwaukee, Pittsburgh, Manhattan, Wisconsin, Royal Oak, Mich

Springfield, Ohio CNN —It’s just past 4am. To lose them would be a blow to his business, he told CNN. They’re ready to give birth in probably the next couple hours, and they’ve never had a single prenatal visit,” Cook told CNN. Haitians sit down to eat their meal at a Haitian restaurant in Springfield, Ohio, on September 12, 2024. That’s tough,” Heck told CNN.

Persons: Springfield , Ohio CNN — It’s, Daniel Aula, he’s, Aula, wasn’t, “, ”, Donald Trump, Ohio Sen, JD Vance —, Trump, Vance, He’s, Ross McGregor, McGregor, ” McGregor, they’d, “ We’ve, Bryan Heck, Springfield Mayor Rob Rue, we’ve, Chris Cook, “ You’ve, they’ve, ” Cook, Cook, “ That’s, Biden, Sens, Sherrod, Ohio Brown, Tim Scott of, Tim Scott of South Carolina —, cc’d Vance, ” Heck, Rent, Rue, Rob Rue, Dominic Gwinn, Jaob Payen, Daniel Driscoll, I’ve, ” Andy Wilson, it’s, —, Mike DeWine, Kerry Lee Pedraza, Pedraza, ” Pedraza, Roberto Schmidt, Aula’s, Harris, Alejandro Mayorkas, Katie Kersh, Kersh, ” Kersh, Lebon, ” Lebon, Sassy ”, ’ ”, “ ’, Sen, JD Vance, Matthew Hatcher, ‘, Fran DeWine, Prince —, ” DeWine, DeWine, that’s, ’, Daniel Aula’s, ” Aula, ” “, CNN’s Catherine E, Shoichet, Kate Sullivan, Daniel Dale Organizations: Springfield , Ohio CNN, CNN, Biden, Nation, Springfield City, Springfield Mayor, Springfield, Infants, Children, City, Getty, US Navy, Republican, Ohio Department of Public, Patrol, Springfield Police, United, “ Haitian Coalition, AFP, United Nations Human Rights, UN, US, Homeland, TPS, “, Gov, Ohio Gov, Trump, Underground Railroad Locations: Springfield , Ohio, Haiti, Springfield, Ohio, November’s, Clark County, Pentaflex, Haitian, Tim Scott of South Carolina, ”, County, City, United States, Creole, Leesport , Pennsylvania, Port, DeWine, America, Germans, “, —

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