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☆ Bitcoin's dizzying price movements make it a risky investment, say investing experts: 'It's pure, unadulterated speculation'
▼ + stars: | 2024-08-08 | by ( Mike Winters | ) www.cnbc.com time to read: +1 min

Bitcoin's price has been particularly volatile as of late. The coin both rose and fell this week, at one point dropping by about 7% in a single hour alone. These recent movements in bitcoin's price serve as a stark reminder of how erratic the cryptocurrency can be and why financial planners often consider it a discretionary investment. Although bitcoin's price has roughly doubled in value since August 2023, it's not an appropriate investment for everyone, especially those with a lower risk tolerance. Bitcoin's frequent price fluctuations undermine its reliability as a store of value or as a hedge against inflation, at least in the short term.

Persons: that's, it's, shouldn't

☆ With mortgage rates dropping, should you refinance? 'It could be worth it,' says financial planner
▼ + stars: | 2024-08-07 | by ( Mike Winters | ) www.cnbc.com time to read: +2 min

Mortgage rates have plunged in recent days, leaving many homeowners wondering if they should refinance their mortgages. DON'T MISS: Achieve Financial Wellness: Be Happier, Wealthier & More Financially Secure Another consideration is the loan term, which determines how much total interest you will pay on the loan. You can run the numbers through a mortgage refinancing calculator. Of course, with refinancing you'll want to scrutinize the terms of the new agreement to ensure that there are no surprises. You could wait for mortgage rates to drop further

Persons: Dean Tsantes, Hazel Secco Organizations: Mortgage Locations: Virginia, New Jersey

☆ The salary you need to buy a home in the 15 most expensive U.S. housing markets
▼ + stars: | 2024-08-06 | by ( Mike Winters | ) www.cnbc.com time to read: +1 min

Homeownership in the largest U.S. cities has been put further out of reach for all but the richest residents, according to a recent analysis by mortgage analytics firm HSH. A household needs to earn $463,887 to afford a median-priced home in San Jose, California, making it the most expensive of the 50 largest U.S. cities. The estimate assumes no more than 28% of gross income spent on housing costs and a down payment of 20%, plus an average mortgage rate of 7.16% for borrowers with a good or excellent credit score. A longstanding shortage of homes is another factor that's particularly acute in California, which helps explain why median home prices in some of the state's cities, such as San Jose, are twice the national median of $412,300, per U.S. Census data. Here's a look at the 15 most expensive cities to afford a home, based on the income needed to buy a median-priced property in that market.

Locations: San Jose , California, U.S, California, San Jose

☆ He Took His 68-Year-Old Secret to Court and Finally Confronted His Ghost
▼ + stars: | 2024-08-05 | by ( Michael Wilson | ) www.nytimes.com time to read: +1 min

The 79-year-old man sat silently in the back of the courtroom on Long Island, 20 miles from his home in Queens. Here the man, Robin Davis, settled in for what promised to be a strange trial in this mostly empty room. His lawsuit centered on the actions of a person long dead. His adversaries were Long Island bureaucrats who had never heard of that person or his reported misdeeds. Mr. Davis had long been widely known for his philanthropy on behalf of one cause: fighting child abuse.

Persons: Merrill Lynch, Robin Davis, Long, Davis, Eisenhower Organizations: Bank of America Locations: Queens, New York City

☆ You're not 'throwing away money' on rent, says self-made millionaire: 'I've made more renting than I would owning'
▼ + stars: | 2024-08-03 | by ( Mike Winters | ) www.cnbc.com time to read: +2 min

But when you pay rent, "you're not throwing money away," Sethi tells CNBC Make It. When looking at homes as an investment, renters commonly overlook the "phantom costs" of owning a property beyond the monthly mortgage payment. "People say they don't want to throw money away on rent," Sethi says. "I've made more money renting than I would have owning," he says, referring to investments made with money that could have been spent on a down payment and phantom costs for units similar to the ones he rented. Considering that home values have increased by 85% since 2010, many Americans have built wealth by owning a home.

Persons: Ramit Sethi, Rich, Sethi, I've, that's Organizations: CNBC Locations: Los Angeles and New York

☆ Antarctica heat wave sends temperatures 50 degrees above normal
▼ + stars: | 2024-08-03 | by ( Mary Gilbert | ) edition.cnn.com time to read: +8 min

This is the second significant heat wave Antarctica has endured in the last two years. That unprecedented heat wave was made worse by climate change, according to a 2023 study published in Geophysical Research Letters. Climate change contributed 3.6 degrees of warming to the heat wave and could worsen similar heat waves by 9 to 10.8 degrees Fahrenheit by 2100, the study found. Climate Change Institute, University of Maine Climate Change Institute, University of Maine Slide left to see temperatures observed during this heat wave and right to see what normal temperatures should be. But other research in the last few years has demonstrated that melting in East Antarctica, where this heat wave is happening, is becoming equally troubling.

Persons: David Mikolajczyk, Mikolajczyk, ” Thomas Bracegirdle, University of Maine Bracegirdle, ” Bracegirdle, it’s, Ted Scambos, Bracegirdle, Amy Butler, Butler, ” Organizations: CNN, East Antarctica –, Antarctic Meteorological Research, Data Center, University of Wisconsin - Madison, Antarctic, Reds, Institute, University of Maine, Research, University of Colorado, Northern Hemisphere, Southern, NOAA’s Chemical Sciences, Change Institute, East Antarctica, National Academy of Sciences, “ Locations: Antarctica, East Antarctica, Bismarck, North Dakota, University of Colorado Boulder, Northern, East, Scambos, West Antarctica

☆ I spent 2 months renovating my van for $12,500. Here are 10 of my biggest regrets.
▼ + stars: | 2024-08-02 | by ( Abigail Robertson | ) www.businessinsider.com time to read: +9 min

Read previewWhen 2020 hit with all of its uncertainties, I knew there was no better time to start van life. I wanted to hit the road as soon as possible while keeping costs low, so I went with a smaller van. Next time, I'm investing in a van with 4-wheel driveI'm always hesitant to off-road in my van. AdvertisementSpreading out the build would've given me more rest days — I took exactly two days off — and peace of mind. Now, I see a van build as an ongoing expense, like rent, that I'm always saving for and investing in rather than a one-time purchase.

Persons: —, I've, I'd, Abigail Robertson, I'm Organizations: Service, Ford Transit Connect, Business, Mercedes Sprinter, Ford Transit Locations: Ohio, California

☆ The Fed keeps interest rates high for now—here's how much money it could be costing you each month
▼ + stars: | 2024-08-01 | by ( Mike Winters | ) www.cnbc.com time to read: +2 min

30-year fixed-rate mortgagesIn 2022, the average 30-year fixed rate mortgage rate was 4.3%, while the current rate is 6.9%, per Mortgage News Daily. Total monthly difference: $42New vehicle financingIn 2022, new auto loans had an average interest rate of 5.2% while the current average is 7.3%, per Edmunds data. For a 60-month financing of around $40,000, monthly payments have increased from $759 to $798. Total monthly difference: $39Credit cardsIn 2022, the average credit card interest rate was 16.3%, while the current rate is 20.7%, per Bankrate data. Total monthly difference: $19

Organizations: Federal Reserve, Fed, Mortgage Locations: Edmunds

☆ I fell in love with a charming town in Northern California. Once I finally moved there, I couldn't get away fast enough.
▼ + stars: | 2024-07-31 | by ( Jaime Stathis | ) www.businessinsider.com time to read: +6 min

Grass Valley, California, was one of those places for me. AdvertisementWhile Martin debated pros and cons, I quickly mapped Sacramento to Grass Valley — it was 56 miles. On a scouting trip, he agreed that Grass Valley seemed like a great place. But once we finally lived in the Northern California town, we realized we may have been better off just visiting. I lived in Grass Valley for two and a half years, and three years after moving away, I'm only in touch with a few people.

Persons: —, I've, Martin, he'd, Patty Thomas, we'd, Califonia Organizations: Service, Business, San, California . San Francisco Chronicle, Hearst Newspapers, Getty, Gold Rush Locations: , California, San Francisco, Missoula , Montana, Sacramento, Grass, Northern California, San Bernardino, Lake Arrowhead, Missoula, Berkley, Lake Tahoe, it's, Grass Valley, California, Nevada, Southern California, New England

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailI make $112,000 a year as a travel nurse working in a prisonKevin Levu, 24, earns $112,000 a year as a travel nurse working in Pelican Bay State Prison. Levu, who studied nursing while serving in the U.S. Army, took his first travel nursing job in 2023 after learning how much money he could make. Here's how he manages his money. 08:39 9 minutes ago

Persons: Kevin Levu Organizations: U.S . Army Locations: Pelican Bay, Levu

Kevin Levu faces unpredictable dangers during his nursing shifts, including the risk of being stabbed or beaten. A travel nurse, Levu works at Pelican Bay State Prison, which is home to some of the most violent inmates in California. Being a travel nurse "provides a lot of freedom in my life," he says. Zoom In Icon Arrows pointing outwards Kevin Levu in the army. "Kevin Levu at home.

Persons: Kevin Levu, Levu, Chuck Greenwood, I'm, —, there's, wasn't, nudged, Fort Sam Houston, didn't, Doctors, Kevin, fanny, gurney, he's, they're Organizations: CNBC, Pelican, Fort, Fresno City College, IRA, Netflix, Spotify, Toyota Tacoma Locations: Pelican Bay, California, Brookings , Oregon, U.S, Pelican, Crescent City, Northern California, Levu, Oklahoma, San Antonio , Texas, Kevin, Fresno , California, Placerville , California

☆ StanChart unveils $1.5 billion share buyback, boosts income guidance
▼ + stars: | 2024-07-30 | by ( ) www.cnbc.com time to read: +2 min

Standard Chartered (StanChart) on Tuesday announced its largest-ever share buyback worth $1.5 billion and lifted its earnings outlook for this year, betting on strong economic growth in its core Asian markets and plans to rein in costs. StanChart's statutory pre-tax profit for the first half climbed 5% to $3.49 billion, just ahead of a consensus estimate compiled by the bank. Asia-focused global banks including StanChart and rival HSBC have benefited in recent years from higher interest rates and relatively stronger economic growth and wealth generation in the region. But in China, slowing economic growth and the country's property sector crisis have been a concern for Western banks. StanChart has made provisions totaling $1.2 billion for potential bad loans in China's commercial real estate sector so far this year.

Persons: Bill Winters, StanChart, Sadia Ricke Organizations: Chartered, Tuesday, HSBC Locations: Hong Kong, London, Asia, Africa, China

☆ 'Nobody wants to talk about it': A market-shifting real-estate trend is hiding in plain sight — and these 5 states will benefit most
▼ + stars: | 2024-07-27 | by ( James Faris | ) www.businessinsider.com time to read: +7 min

"We've got a real headwind from climate change," Zelman told Business Insider in late July. AdvertisementThe two hottest days in recorded history were earlier this week, according to the Europe-based Copernicus Climate Change Service. Most scientists say that's due to climate change caused by humans, but even if it's a coincidental pattern, the trend of rising temperatures is undeniable. AdvertisementMidwestern cities are destined to overtake the 'Sun Melt'During the "great reshuffling" of the pandemic, warmer states in the Sun Belt region were among the biggest beneficiaries. The widespread advent of remote work allowed millions of people to relocate, and many moved in droves to warmer states in the Southern US.

Persons: —, Zelman, she's, We've, I've, Sylvain Leduc, Daniel Wilson Organizations: Service, Zelman, Associates, Wall, Business, Van Lines, Federal Reserve Bank of San Locations: Europe, Southern, South, Carolinas , Tennessee, Florida, Arizona, North Carolina, South Carolina , Tennessee, Georgia, Alabama, Texas, Midwest, Federal Reserve Bank of San Francisco, Miami, Ohio, Michigan , Illinois , Iowa, Wisconsin, Cleveland

☆ I've been to 48 states, but there's one US city I want to visit every summer
▼ + stars: | 2024-07-25 | by ( Latifah Al-Hazza | ) www.businessinsider.com time to read: +6 min

After visiting 48 of the 50 US states, Chicago is my favorite place to be in the summer. Here's why I love Chicago summers. Latifah Al-HazzaThe city prides itself on being home to over 20 Michelin-starred restaurants and having a diverse food culture. The city's public Divvy bikes are easy to rent and a great way to see the city in the summer. The event offers incredible city views and access to the indoor aquarium, providing a cool respite from the heat.

Persons: —, Latifah Al, Chiya Chai, Café Tola, Lou Malnati's, Diego, Jackson, Ping, Fulton Organizations: Service, Windy City, Business, Chicago Architecture, Chicago Riverwalk, Michelin, Café Tola, Indienne, Chicago café, Hazza, Art Institute of Chicago, Field Museum, Museum of Science, Industry, Chicago World's Fair, Art, Logan Square Arts, Pitchfork, Chicago Blues Festival, Lakeview Taco Fest, NASCAR, Chicago Air, Water, Chicago Locations: Chicago, Café, Lake Michigan, Beach, Ping Tom, Windy City Smokeout, Lakeview, Sueños

☆ Rats, roaches, and other creatures are winning against climate change, and it's bad news for humans
▼ + stars: | 2024-07-25 | by ( Ellyn Lapointe | ) www.businessinsider.com time to read: +8 min

In the game of climate change, there are both winners and losers. AdvertisementMany of these climate change "winners" are hardy, fast-breeding scavengers that already live in some of the most degraded habitats on Earth: cities. When it comes to what they eat, they aren't picky, which means they probably don't have to worry about climate change eliminating their food source. If climate change is driving a "ratpocalypse," as some evidence suggests, that could have big consequences for human health. But as climate change raises temperatures and alters precipitation trends, their range is expanding and shifting to new geographic areas.

Persons: Giovanni Strona, Shutterstock, they've, We're, —, they're, They're Organizations: Service, Business, Commission's, Research Centre, Pest Control, South America, AP, CDC Locations: York, Africa, Asia, South America, South, Florida, Texas, Europe, Vermont

☆ Mortgage interest rates are expected to drop by the end of the year—here’s how much you could save on monthly payments
▼ + stars: | 2024-07-19 | by ( Mike Winters | ) www.cnbc.com time to read: +2 min

While mortgage rates are most closely linked to 10-year Treasury bonds, they tend to move in tandem with the Federal Reserve's benchmark interest rate. Consequently, a rate cut is likely to lower mortgage rates later this year. That's potentially good news for homebuyers, since interest rate cuts would likely make monthly mortgage payments a bit more affordable. Most major housing organizations expect mortgage rates to drop by the end of the year. Mortgage rate forecasts for the end of 2024 differ slightly.

Persons: Fannie Mae, Wells, Kevin McLoughlin Organizations: Federal, Traders, Mortgage, Association ., Federal Reserve Locations: Virginia

☆ I'm a remote worker who moved to Chicago. Social media helped me make friends, but it's hard to meet people during the city's freezing winters.
▼ + stars: | 2024-07-17 | by ( Grace Dean | ) www.businessinsider.com time to read: +1 min

Aley Clark is a writer who relocated from South Carolina to Chicago in March 2023. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementThis as-told-to article is based on a conversation with Aley Clark, a lifestyle and wellness writer and content creator who relocated from South Carolina to Chicago in March 2023. I moved from Moncks Corner in South Carolina to Chicago in March 2023.

Persons: Aley Clark, — Organizations: Service, Business Locations: South Carolina, Chicago, Windy City

☆ I got a behind-the-scenes tour of the conspiracy theory-filled Denver Airport to see its 'secret' tunnels and 'cursed' horse
▼ + stars: | 2024-07-16 | by ( Taylor Rains | ) www.businessinsider.com time to read: +10 min

Any other US airport probably wouldn't garner the same attention, but Denver Airport is riddled with conspiracy theories and ghost stories that date back decades. AdvertisementThe capstone features the Freemasons' Square and Compass symbol and mentions a group called the "New World Airport Commission." Taylor Rains/Business InsiderMythmakers suggest the rearing horse is cursed after killing its creator, Luis Jiménez, in 2006. The tunnels aren't secret and have nothing to do with the supernaturalMy Denver airport tour was sparked by the viral TikTok. Taylor Rains/Business InsiderBut it's not the only "hidden" place in Denver Airport where theorists believe something nefarious is going on.

Persons: —, There's, I've, Taylor Rains, Leo Tanguma, Andy Cross, Stacey Stegman, Stegman, Luis Jiménez, Jiménez, It's, it's, Bob Daemmrich Organizations: Service, Denver International, Denver, Business, Denver Airport, Freemasons, Commission, Denver International Airport, Denver Post, New, Notre Dame, Frontier Airlines, Getty Locations: TikTok, Denver, Colorado, New Mexico, Notre Denver, Paris, Denver Airport, AFP, Manhattan

☆ I moved from New York to Maine 4 years ago. I'm still surprised at how friendly people are and how far away everything is.
▼ + stars: | 2024-07-14 | by ( Conz Preti | ) www.businessinsider.com time to read: +5 min

At the time, my husband, our 2-year-old, and two dogs were already living in a cramped one-bedroom apartment in Williamsburg, Brooklyn. Here are the things that surprised me from moving from New York City, to Portland, Maine. Everyone is so friendlyMainers have a reputation for being friendly, but I was still surprised by how friendly people were when we first moved here. We have friends with kids the same age as ours but also intergenerational friendships with older people in the community. Living in Maine has left me wanting more cultural events to attend.

Persons: —, hasn't, we've, who've, I'm, it's Organizations: Service, Business Locations: Williamsburg , Brooklyn, Maine, New York City, Portland , Maine, South America, Buenos Aires, Portland, New York, Boston, Bangor

☆ This city has one of the worst inflation rates in the U.S.—it isn't in New York, California or Florida
▼ + stars: | 2024-07-14 | by ( Mike Winters | ) www.cnbc.com time to read: +1 min

Although the national year-over-year inflation rate has dropped to 3%, it has hovered around 5% in Dallas-Fort Worth in 2024, according to a new WalletHub report. Inflation in Dallas-Fort Worth has also risen steadily by 1% over the past two months — making it the nation's worst city for inflation, according to the study. Aside from Dallas-Fort Worth, Honolulu is the only other city in the study with year-over-year inflation that's 5% or higher. Below are WalletHub's rankings of metro areas with the worst inflation, from worst to best. The rankings are based on an index that's weighted equally between year-over-year inflation and inflation over the past two months as of June 2024.

Persons: That's, Cassandra Happe Organizations: New, Fort Worth, Dallas Morning Locations: Dallas, Fort Worth, Honolulu, New York City, Los Angeles, Fort Worth , Honolulu

☆ Here's the median salary in the 25 biggest U.S. cities—see how you compare
▼ + stars: | 2024-07-11 | by ( Mike Winters | ) www.cnbc.com time to read: +2 min

The median household income is over $100,000 in six cities, four of which are in California, according to a new analysis by GoBankingRates. In 2024, the median annual household income is estimated to be $78,171, according to data consulting firm Motio Research. In Detroit — which is ranked 30th in population size — the median income is $40,574. The wealthiest cities also tend to offer a high number of well-paying jobs in technology, finance, entertainment or health-care industries. Below are the median household incomes for the 25 most populous U.S. cities, ranked from highest to lowest.

Organizations: Seattle, Boston, Motio Research, Detroit Locations: California, San Francisco, Francisco, Jose , California, Washington, Diego, Oakland, Virginia Beach , Virginia, Austin , Texas, Portland , Oregon, U.S, New York

☆ World’s biggest indoor snow and ice park opens in China
▼ + stars: | 2024-07-09 | by ( Martha Zhou | ) edition.cnn.com time to read: +2 min

Beijing CNN —The world’s largest indoor ice and snow theme park has officially opened its doors to the public, giving visitors to the city of Harbin in northeast China a chance to feel wintery temperatures year-round. The annual Harbin Ice and Snow Festival began in 1999 and is held every year from December to early March. A Guinness World Records official awarded the Harbin Ice and Snow World Company the certification for the “world’s largest indoor ice and snow theme park” during this month’s opening ceremony. Xinhua/ShutterstockCovering an area of 23,800 square meters, the new Harbin Ice and Snow World Park, which opened on July 6, is divided into nine themed sections with 13 interactive projects. There are also vibrant ice sculptures of fruit, ice cream and cakes made using edible dyes through an environmentally-friendly special coloring process.

Organizations: Beijing CNN, Snow Festival, World Records, Harbin, Snow World Company Locations: Beijing, Harbin, China, Heilongjiang province, Ice City, Xinhua

☆ 15 U.S. states with the lowest cost of living—a single person can live there comfortably on $20 an hour
▼ + stars: | 2024-07-09 | by ( Mike Winters | ) www.cnbc.com time to read: +3 min

As a single person, you'll need an annual income of $40,000 to cover basic expenses in the cheapest U.S. states, according to a recent SmartAsset analysis. The state with the lowest costs of living is West Virginia, closely followed by Arkansas and Oklahoma, the analysis says. In contrast, the most expensive state for a single person is Massachusetts, where a single person needs $58,009 per year to cover basic costs. The difference in basic costs between states is largely due to housing, which tends to be most affordable in rural states. MIT's Living Wage calculator is based on data from various federal agencies, adjusted for inflation as of December 2023.

Organizations: MIT, Bureau of Labor Statistics, CNBC Locations: West Virginia, Arkansas, Oklahoma, West, U.S, Dakota, Kentucky, Ohio, Louisiana, Mississippi, Iowa, Mexico, Nebraska, Alabama, Missouri, Wisconsin, Massachusetts, New York, California

Social media has transformed the reason we take photos on vacation. According to the same survey, 74% of respondents feel some kind of pressure to imitate the travel content they consume online. This summer, a little more than half of Americans are planning to take a vacation, according to a Bankrate survey. Stretching your annual vacation budget to accommodate the resort everyone claims to love so much? Dial into vacation elements that are important to youWhen you're trying to budget and plan for your summer vacation, come up with your cost ceiling first.

Persons: Gen Zers Organizations: Forbes Locations: Caribbean, clouding, Vegas

☆ How a 'softening' real estate market could help you score a lower price on a home
▼ + stars: | 2024-07-03 | by ( Mike Winters | ) www.cnbc.com time to read: +2 min

Home prices may have hit a new high, but the real estate market is showing signs of weakness that could help buyers negotiate a lower price on a house. For the four weeks ending June 30, homes sold for 0.3% below asking price, according to a recent report by online real estate brokerage Redfin. But if anything, it's a momentary correction in a real estate market that still favors sellers. That's because the Federal Reserve is expected to announce federal funds rate cuts that will help lower mortgage rates before the end of the year. Considering that many would-be buyers have been priced out of the market by high mortgage rates, lowering rates would increase the number of potential buyers able to afford a home.

Persons: Daryl Fairweather, there's, Fairweather Organizations: Federal Reserve Locations: U.S

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