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☆ Walmart-backed One has made a splash with high-profile hires and big potential, but customers of the old regime feel left behind
▼ + stars: | 2022-11-02 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

The ones left behindHaving your bank acquired by the nation's largest retailer might seem like an exciting opportunity. Read our full deep-dive into how One customers feel frustrated by changes made to their bank in the wake of its acquisition. In other news:Diddy, Heidi Klum, and Mindy Kaling are just a few of the many celebrities that celebrate Halloween with statement looks. Diddy/Instagram; Noam Galai/Getty Images for Heidi Klum; Mindy Kaling/Instagram2. Credit to Heidi Klum for going all in.

☆ Opendoor slashed prices and paid buyers' agents $3,500 a house in a rush to off-load thousands of homes in the third quarter
▼ + stars: | 2022-11-01 | by ( Daniel Geiger | ) www.businessinsider.com time to read: +7 min

Opendoor cut prices and gave incentives in the third quarter, losing cash on much of its inventory. Opendoor has been offering buyers $15,000 credits and their brokers $3,500 bonuses. A decelerating housing market poses a challenge for iBuying companies like Opendoor, which use home-pricing algorithms to purchase homes. In the third quarter, Opendoor sold between 8,100 and 8,550 homes, according to an estimate by Datadoor, a startup that catalogs Opendoor's acquisition and sales activity across the country. The high end of Datadoor's estimate, 8,550 home sales, would be an 18% decrease in the number of sales Opendoor reported for the second quarter and 32% below the first quarter.

☆ Online real-estate investment firm Fundrise is paying way over housing-market value for some build-to-rent communities. Here's why it says it's still a winning strategy.
▼ + stars: | 2022-10-24 | by ( Alex Nicoll | Lisa Kailai Han | James Rodriguez | ) www.businessinsider.com time to read: +14 min

Build-to-rent communities skip the intermediary and go straight to the homebuilder. While typical single-family rental strategies, pioneered by Blackstone in the aftermath of the Great Recession, are inherently tied to the housing market, build-to-rent is not. In the eyes of private equity, there's no difference between build-to-rent communities and apartment blocks. If you value Cypress Bay as an apartment building, instead of a collection of homes, Fundrise got a good deal. Fundrise is still working on deals, Miller said, with a deal pipeline stretching out to 2025.

☆ The stock market crash is exposing Wall Street's biggest charlatans
▼ + stars: | 2022-10-16 | by ( Linette Lopez | ) www.businessinsider.com time to read: +9 min

In a market bubble, it's easy to confuse opportunity for genius. While many of these new investors invested wisely, a pack of them got swept up in a social-media-driven market mania. For the past decade-plus, the stock market loved this. It's really never a good sign when you see celebrities hanging around the stock market, and during the bubble they were everywhere, pumping crypto and investing in SPACs. Good information about the stock market does not come easy, and Gordon Gekko was right to say that if you want a friend on Wall Street, you should buy a dog.

☆ Over half of Gen Z and millennials could face a retirement crisis as inflation rises and homeownership falls, says a Boston University economist
▼ + stars: | 2022-10-11 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +5 min

Over half of Gen Z and millennials could enter retirement with insufficient savings, says a Boston University economist. As of 2017, roughly half of all retirement age Americans had no personal retirement savings, per a January Census Bureau report. While the expectation that young Americans will live longer than the generations before them is a positive development, this also raises the total cost of retirement. "The retirement age will rise and it's been rising," he said, pointing to BLS projections of older workers' labor force participation. To prepare for retirement, Kotlikoff says Gen Zers should be saving 15% of what they earn after taxes, although he adds that that "may well be on the low side."

☆ Wealthy millennials aren't relying on the stock market. Here's how their investment portfolios break down.
▼ + stars: | 2022-10-11 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +6 min

Only 32% of older investors said the same. The wealthy millennials surveyed said they allocate 25% of their portfolios to stocks, compared to 55% for older investors. Cryptocurrency is popular among these millennials as well, accounting for 15% of their portfolios compared to only 2% for older investors. Wealthy millennials see cryptocurrency as the best investmentLooking forward, the wealthy millennial investors ranked cryptocurrency or digital assets, real estate, private equity, and direct investment into companies offer the "greatest opportunities for growth." Older investors favored US stocks, followed by real estate and equities in the emerging and international markets.

☆ Grammy-nominated DJ Steve Aoki told us he's made more money from NFTs than royalties. Here's how he says he's profited $10 million — and how Web3 can disrupt the multi-billion-dollar music industry.
▼ + stars: | 2022-10-11 | by ( Morgan Chittum | ) www.businessinsider.com time to read: +5 min

Aoki was "shocked and excited" when he realized he made more from NFT sales than music royalties. NFTs can disrupt the music industry by creating a new revenue stream for artists, Blau previously told Insider. "This could facilitate a change that I've been waiting to see for most of my career as an independent artist," Blau said of tokenized music royalties. NFT earnings vs music royaltiesThe 2X Grammy-nominated artist says he's made more from NFTs than a decade of music royalties, Decrypt first reported. Aoki touts Web3, or the metaverse, as a chance for artists to truly own their work via the blockchain.

☆ These are the 10 best family-friendly U.S. cities in 2022 based on academic excellence, outdoor space and more
▼ + stars: | 2022-09-25 | by ( Celia Fernandez | ) www.cnbc.com time to read: +1 min

In August, Opendoor , a digital platform for residential real estate, released a new survey that revealed the best family-friendly cities in the country . "Cambridge offers families plenty of restaurants, coffee shops, and a year-round farmers market, a perfect way to fill your weekends," she said. Cambridge public schools are highly rated, with a student-teacher ratio of 9 to 1, according to Niche.com. 7 of 240 as the most diverse school districts in the state and 17 of 238 on the list of best places to teach in Massachusetts. Though, according to Opendoor's real estate trends report, the most common reason homeowners cite for selling their houses in Cambridge is that they are searching for a better school district.

☆ Opendoor is staring down losses after once boasting it wouldn't repeat Zillow's home-flipping fiasco. 5 properties from Phoenix to Atlanta show the trouble it's facing.
▼ + stars: | 2022-09-21 | by ( James Rodriguez | Alex Nicoll | ) www.businessinsider.com time to read: +9 min

The losses are mounting for Opendoor as home prices fall in previously red-hot markets such as Phoenix, Southern California, and Las Vegas. Opendoor cut the listing price three times, ultimately dropping it to $657,000 before the property sold. Opendoor has since cut the listing price five times, most recently advertising the property at $417,000. Records on Zillow indicate Opendoor has reduced the listing price six times. As for the homes Opendoor is buying today, Wu said executives "expect those to perform well and in line with expectations."

☆ Big SPAC unwind has consequences for few
▼ + stars: | 2022-09-20 | by ( ) www.reuters.com time to read: +2 min

Chamath Palihapitiya, Founder and CEO of Social Capital, presents during the 2018 Sohn Investment Conference in New York City, U.S., April 23, 2018. REUTERS/Brendan McDermid/File Photo/File PhotoNEW YORK, Sept 20 (Reuters Breakingviews) - Chamath Palihapitiya pushed the limits of the blank-check boom. If his shortcomings were the worst of the SPAC fallout, it isn't so bad. The SPAC boom was part of the stock market excess inflated by government stimulus and ultra-low interest rates following the global pandemic. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ Stocks making the biggest moves midday: Lennar, Coinbase, Array Technologies and more
▼ + stars: | 2022-09-19 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

Check out the companies making the biggest moves midday Monday:D.R. Horton, Lennar, PulteGroup — Homebuilder stocks moved higher on Monday after KeyBanc double upgraded the sector to overweight from underweight. Array Technologies — The solar stock jumped over 3% after Piper Sandler upgraded Array Technologies to overweight from neutral, saying the company has more upside ahead on an improved forward outlook. AutoZone — AutoZone shares fell more than 2% as traders pored over a mixed quarterly earnings report. Wix — Shares of Wix soared 11% after activist investor Starboard Value revealed a 9% stake in the web development platform company.

☆ Inside the ultra-exclusive home-swapping app Kindred — which has a 'Raya-type' invite-only membership and a rapidly growing waitlist
▼ + stars: | 2022-09-18 | by ( Emily Carmichael | ) www.businessinsider.com time to read: +6 min

Some have compared the new home-swapping app Kindred to Raya, the exclusive members-only dating app. With homes that are largely luxurious, the average length of a Kindred stay is six days. Kindred gives home-swapping the (fancy) app treatment. And Kindred has a waitlist that it pulls from to build its housing inventory in locations popular with its members. Kindred vets, and personally photographs each of the homes on the app to ensure residences look like pictures.

☆ We're Opendoor execs who took paternity leave. It didn't just improve our personal lives — it made us better leaders.
▼ + stars: | 2022-04-04 | by ( Ian Wong | Mark Kinsella | ) www.businessinsider.com time to read: +6 min

They say taking paternity leave when their respective kids were born was one of the best decisions. However, there are numerous benefits to taking paternity leave. While taking paternity leave seems like an individual action, it has significant meaning. We've seen employees, regardless of their seniority, take paternity leave without reservations and with the full support of their teammates. For both of us, the benefits of taking paternity leave were immeasurable.

☆ Compass CFO Kristen Ankerbrandt explains how the fast-growing brokerage company can reap profits
▼ + stars: | 2021-12-07 | by ( Daniel Geiger | ) www.businessinsider.com time to read: +5 min

The CFO of Compass believes profits will catch up to the real-estate brokerage's rapid growth. The conversation took a turn when Compass' CEO and cofounder, Robert Reffkin, suggested instead that Ankerbrandt join as its chief financial officer. Earlier this year, Ankerbrandt helped steward Compass' much-anticipated initial public offering that valued the firm at about $7 billion. "We had $370 million in revenue in 2017, and we did $3.7 billion in 2020, which is pretty incredible," Ankerbrandt said. For years, upstarts in the residential real-estate business have sought to displace or deprioritize the role of the broker.

Although mortgage rates are volatile amid coronavirus concerns, rates are relatively low right now and are expected to stay low through at least the end of 2020. If you're buying your "forever home," you might consider choosing a fixed-rate mortgage to lock in a low rate. However, home loan rates aren't staying low like rates for other types of loans are. Mortgage rates are affected by factors other than the federal funds rate, such as consumer demand and the 10-year Treasury yield. "I recommend a fixed rate mortgage because it provides stability in your monthly payments," says de Jong.

Persons: —, Andy Taylor, Taylor, Beatrice de Jong, you've, de Jong Organizations: Service, Federal

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