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☆ Over 18 million rental units are exposed to climate hazards as extreme weather becomes more common, Harvard study finds
▼ + stars: | 2024-02-07 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +5 min

D3sign | Stone | Getty ImagesExtreme weather and climate hazards are becoming more frequent, posing a unique threat not only for homeowners, but for renters. Over 18 million rental units across the U.S. are exposed to climate and weather-related hazards, according to the latest American Rental Housing Report from Harvard University's Joint Center for Housing Studies. While they're a smaller share of the rental stock, 52% of manufactured units are located in areas with extreme weather exposure. "It's sort of a compounding risk when we see these increases in climate hazards and start impacting people who can't afford to move away from the risk." Check what type of disasters are included in your renters insurance policy.

Persons: Sophia Wedeen, Jeremy Porter, Wedeen, Porter Organizations: Harvard University's, for Housing Studies, Harvard, FEMA, Survey, Joint Center for Housing Studies, Finance, NOAA National Centers for Environmental, First Street Foundation Locations: U.S, New York

☆ Gen Z, millennials want to invest — but many aren't, CNBC/Generation Lab survey finds. Here are the issues
▼ + stars: | 2024-02-06 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +1 min

Rockaa | E+ | Getty ImagesDespite earning more, many Gen Z adults and millennials are having a hard time finding room in their budgets to invest. In fact, 61% are not saving for retirement each month. The survey polled 1,013 people ages 18 to 34 in the U.S. in late January. A prime culprit: higher expenses that have limited their ability to put money aside for savings and investments. "They're cutting costs, they're tipping less, they're trying to spend less eating out … living with parents … they're not acting like the economy is as good as it is," Beschloss said.

Persons: Cyrus Beschloss, … they're, Beschloss Organizations: CNBC, Generation Locations: USA, U.S, It's

☆ Rental markets are softening, but half of U.S. tenants spend more than they can afford, Harvard report finds
▼ + stars: | 2024-02-02 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +1 min

Rent prices are coming down in some areas, but not at the pace needed to relieve tenants struggling to pay rent. Half of renters in the U.S. spent more than 30% of their income in 2022 on rent and utilities, according to the new America's Rental Housing report by the Joint Center for Housing Studies of Harvard University. The report considers those who spend 30% or more of their income on housing "rent burdened" or "cost burdened," which means those high costs may make it difficult for them to meet other essential expenses. The share of cost-burdened renters increased by 3.2 percentage points from 2019 to 2022. While cost burden has increased across income levels, the consequences are much higher for low-income households, said Airgood-Obrycki.

Persons: Whitney Airgood Organizations: Joint Center for Housing Studies of Harvard University, Finance Locations: U.S, Here's

☆ Rental markets are cooling, but it 'doesn't mean they're falling,' Harvard researcher says. Here's what that means for renters
▼ + stars: | 2024-02-01 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +2 min

Recep-bg | E+ | Getty ImagesRent costs are beginning come down after record-high asking prices. "Rental markets are cooling, but in a lot of places, it doesn't mean they're falling. It means they're growing at a slower pace," said Whitney Airgood-Obrycki, senior research associate focused on affordable housing at the Joint Center for Housing Studies of Harvard University. Prices are beginning to come down as supply boosts vacancy and demand slows from record highs in 2022. Increasing the supply of higher-rent Class A units often encourages tenants to upgrade to new units, making prices in those units level out and boosting vacancy in Class B and C units, Airgood-Obrycki said.

Persons: Whitney Airgood, Susan M, Wachter, Obrycki Organizations: Joint Center for Housing Studies of Harvard University, Prices, Finance, Wharton School, University of Pennsylvania Locations: Here’s, Airgood

☆ Should you pay rent with a credit card? 'It could rapidly spiral,' expert warns
▼ + stars: | 2024-01-30 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +1 min

Housing is typically one of the biggest expenses in someone's budget, and it's natural to wonder about the best way to pay that bill. For renters, sometimes it's possible to pay with a credit card. While you could earn rewards and build credit by doing so, experts say it's typically not a smart move. They simply "may not want the hassle," said Matt Schulz, senior credit analyst at LendingTree. Here are three things to consider before you charge your rent payment to a credit card.

Persons: Susan M, Matt Schulz Organizations: Wharton School, University of Pennsylvania, Finance, LendingTree

☆ ‘Positive’ labor market data can still feel awful for workers, job seekers. Here's why
▼ + stars: | 2024-01-30 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +2 min

Layoffs and discharges changed little at 1.6 million, remaining at a rate of 1% for the fourth consecutive month. In November, the hires rate fell to 3.5%, the lowest rate since 2014 outside of the Covid-19 pandemic recession. For all of 2023, the hires rate averaged 3.8%, making it only the 11th best year out of 23, she said. There were more job openings a few years ago because of the high turnover. From October to November, job opening rates decreased in four states, increased in two and were little changed in 44 states and the District of Columbia.

Persons: Julia Pollak, Pollak, Elise Gould, Gould, Bustamante Organizations: Getty, U.S . Bureau of Labor Statistics, Labor, Economic Policy Institute, Employers, District of Columbia, Bureau of Labor Statistics Locations: Montana, Arizona, Oregon, California, Connecticut

MEXICO CITY (AP) — Regional Mexican music — a catchall term that encompasses mariachi, banda, corridos, norteño, sierreño and other genres — has become a global phenomenon, topping music charts and reaching new audiences as it crosses borders. Overall, regional Mexican music grew 60% in the U.S., accounting for a whopping 21.9 billion on-demand audio streams. On Spotify, Mexican music grew 400% worldwide over the last five years, according to Uriel Waizel, lead editor at Spotify Mexico. And I think that is exciting.”Waizel says that while Mexican music is centuries old, “current Mexican music is breaking because it is the music that young people listen to." Actor and singer Lucero, a veteran performer of regional Mexican music, also remembers those days.

Persons: Selena Quintanilla, Eslabon, Pluma’s “ Ella Baila Sola, ”, Eslabon Armado, Junior, Leila Cobo, Billboard’s, Uriel Waizel, Pluma, Taylor Swift, ” Cobo, Waizel, Édgar Barrera, Drake, Barrera, Carín León, Maluma, Don Juan, León, ” Maluma, Pedro Tovar, wasn't, Juan Gabriel, Vicente Fernández's, “, ’ ”, Gabriel Abaroa Jr, Lucero, Becky G, couldn't, it’s, I’m, ” ___ Sherman Organizations: MEXICO CITY, — Regional, Spotify, Grupo Frontera, U.S ., Fuerza Regida, Associated Press, Cobo, Spotify Mexico, YouTube, Fuerza, Premios Juventud, AP, Latin Recording Academy, Mexicans Locations: MEXICO, Mexican, “, U.S, Mexico, Frontera, Puerto Rico, ’, Mexican American, Los Angeles

☆ Layoffs from major companies to start the year have impacted thousands of workers. What to know if you're offered a buyout
▼ + stars: | 2024-01-25 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +1 min

Microsoft joined a list of big tech companies that announced major layoffs at the start of 2024. The technology company plans to cut about 9% its Gaming Unit headcount, amounting to 1,900 laid off workers, according to a memo obtained by CNBC. Earlier this week, EBay said it plans to let go 1,000 employees, or 9% of the company's staff. These announcements join a flurry of layoffs from tech behemoths like Amazon and Google . For example, explore options to work fewer hours or find ways to boost your buyout deal, they advise.

Persons: Suzy Welch, Julia Pollak Organizations: Microsoft, CNBC, EBay, Google, Finance, SAP Locations: German

☆ Gen Z, millennials are less worried about fraud than older generations. But they have a unique risk
▼ + stars: | 2024-01-24 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +1 min

Younger adults are less worried about financial fraud than are older generations, a recent study found. Only 15% of Gen Z and 20% of millennials are concerned about falling victim to stolen money or assets through deceptive tactics, according to a Bank of America Better Money Habits survey of 1,000 respondents. By comparison, about 27% of Gen X and 27% of baby boomers feel at risk of fraud. But that doesn't mean younger generations can't experience severe consequences, said Matt Schulz, chief credit analyst at LendingTree. Financial fraud is a really big deal and can be really impactful," Schulz said.

Persons: X, Jennifer Ehresman, millennials, Ehresman, Matt Schulz, Schulz Organizations: Bank of America, Finance, Gen

☆ Here are the top 10 hottest housing markets in 2024 — and why you may consider other options
▼ + stars: | 2024-01-23 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +2 min

Buffalo, New York, made the top of the list, as the area is slated to see increased job growth compared with the number of approved construction permits for new homes. The list is based on an analysis of home value appreciation, how long it takes to sell a home and job growth relative to housing supply. What a 'hot' market means for buyers"Market heat" refers to the level of competition among buyers; when you have more buyers than sellers, you have a hot market, Divounguy said. "They're looking into warmer areas, favorable tax conditions and better housing affordability." Where the housing market is cooling

Persons: Grace Cary, Orphe Divounguy, Divounguy, Jessica Lautz Organizations: Finance, National Association of Realtors Locations: South, Northeast, Midwest, Buffalo , New York, Florida

☆ 'Housing affordability is reshaping migration trends,' economist says. Here's where people are moving
▼ + stars: | 2024-01-23 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: 1 min

Homes in those consumers' new metros cost $7,500 less, on average, compared to the places they left. "Housing affordability has always mattered...and you're seeing it across the country," said Orphe Divounguy, a senior economist at Zillow. "Housing affordability is reshaping migration trends." More from Personal Finance:Gen Z, millennials are 'house hacking'Why can’t today’s young adults leave the nest? Blame high housing costsHow to vet HOAs when house hunting

Persons: Orphe Divounguy, Gen, HOAs Organizations: Van Lines, Finance

☆ Paying rent usually won't boost your credit score. Here's what renters need to know to make it count
▼ + stars: | 2024-01-20 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +4 min

Luis Alvarez | Digitalvision | Getty ImagesWhile rent payments do not traditionally affect your credit, a growing number of so-called rent-reporting services are trying to change that. But these services don't all operate the same way, and some may have less value for renters. There are also services geared to landlords that offer rent reporting for tenants, including ClearNow, Esusu and PayYourRent. Landlords usually shoulder the cost of these programs, but there may be processing fees depending on how you make your rent payments. When rent payments are included in credit reports, consumers see an average increase of nearly 60 points to their credit score, according to a 2021 TransUnion report.

Persons: Luis Alvarez, —, Matt Schulz, Michael Sherman, Schulz Organizations: Digitalvision, Finance, Zillow, Zillow Group

☆ Here are two child credits parents can take advantage of this tax season
▼ + stars: | 2024-01-19 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +1 min

Maskot | Maskot | Getty ImagesHow the child tax credit worksThe child tax credit is meant to help families navigating the expense of raising a child. "The intent behind the child tax credit is to give parents a bit of a break," said Ted Rossman, a senior industry analyst at Bankrate. The child tax credit was temporarily expanded during the pandemic, but expired at the end of 2021. Now, Lawmakers are considering an $87 billion bipartisan tax agreement that could once again boost the child tax credit starting in 2023. "The child tax credit is very broadly applied," Rossman said.

Persons: Ted Rossman, Rossman Organizations: Maskot

☆ Cars are one of the few purchases Gen Z is reluctant to make online. Here's why that can be smart
▼ + stars: | 2024-01-17 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +1 min

Growing up in the age of the internet and technology, online shopping is second nature for Gen Zers. One-third, 32%, of Gen Z consumers shop online at least once a day, according to data from marketing firm Tinuiti. Yet, 80% of Gen Z drivers prefer to shop for a car in person. Only 9% prefer to do so online, according to a recent report by Cars.com, which defines Gen Z adults as those between ages 18 and 28. Baby boomers were the only generation more likely than Gen Z to purchase a car in person, with 89%, while millennials were the most likely to prefer buying online, with 16%.

Persons: Zers, Rebecca Lindland, boomers, millennials, Paul Waatti Organizations: Cars.com, Finance

☆ Here are 3 ways Gen Zers can build credit before renting their own place
▼ + stars: | 2024-01-15 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +3 min

Fg Trade | E+ | Getty ImagesRising inventory is helping push rent prices down. Many Gen Zers are still living with their parentsWhile some older Gen Zers were able to become homeowners during the Covid-19 pandemic, most did not. Gen Z includes those born between 1996 and 2012, according to Pew Research Center's definition, and the youngest members of that cohort are still teens and tweens. Of the Gen Z adults who currently rent, 27% say they can no longer afford the cost, the firm found. In the meantime, there are ways Gen Z adults can prepare, especially those at home saving on expenses.

Persons: Gen, Daryl Fairweather, Jacob Channel, It's, Zers, Intuit Credit Karma, Melissa Lambarena Organizations: Pew Research, Intuit Credit, Finance Locations: U.S

☆ Investing in hobbies can be money well spent — just don't take on debt
▼ + stars: | 2024-01-13 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +3 min

This broad category covers a range of expenses that people consider hobbies, as well as concert tickets and pets. If done wisely, cash spent on your hobbies is money well spent. A lot of times, startup costs for hobbies and interests are very expensive, said Weiler. watch nowDon't finance a new hobby on debtIf you do enjoy the hobby, find a way to make it financially sustainable. Does money spent on hobbies buy happiness?

Persons: Rebecca Weiler, Weiler, George Organizations: Getty, U.S . Bureau of Labor Statistics, Research, Finance, Trustco Bank Locations: New York City

☆ Gen Z women spend more on TikTok as app 'drives consumption,' analyst says
▼ + stars: | 2023-12-04 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +4 min

Filippobacci | E+ | Getty ImagesGen Z women are driving spending trends on TikTok. "TikTok is a Gen Z women-centric app and it is setting the tone and the narrative for what is 'hot' online," said Ellyn Briggs, a brands analyst at Morning Consult. A larger share of Gen Z women, 75%, use TikTok compared to their male counterparts, 62%, a separate Morning Consult report found. Sophia Bera Daigle certified financial plannerSocial media platforms like TikTok take the concept to a different level, especially for Gen Z. Two money guardrails for 20-something womenExperts say it's important for young women in their 20s to remember the following two things when it comes to observing their contemporaries exhibiting expensive lifestyles: 1.

Persons: Ellyn Briggs, Briggs, TikTok, Z's, Shaun Williams, boomers, Williams, Sophia Bera Daigle, FOMO, Gen Zers, LendingTree, Daigle, guardrails, it's, They're Organizations: Morning, Paragon Capital Management, CNBC, Gen, CNBC FA Locations: Denver, Austin , Texas

☆ Here are some last-minute options to spend down your flexible savings account ‘use-it-or-lose-it’ funds
▼ + stars: | 2023-12-01 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +4 min

It's common for workers to not know what their employer's FSA rules are. Stock up on over-the-counter medications The CARES Act of March 2020 removed prescription requirements to use FSA funds for many over-the-counter medicines. Buy certain skin care products You can use your FSA savings for eczema-approved creams and lotions. Plan ahead for a new baby New and expectant parents can use their FSA funds for baby products such as diaper rash cream, baby breathing monitors and baby sunscreen. How to use FSA funds wisely

Persons: Tom Werner, Digitalvision, Carolyn McClanahan, Jake Spiegel, you've Organizations: Getty, Planning Partners, CNBC's, Research, CNBC, Invest, Garmin, IRS Locations: Jacksonville , Florida

LOS ANGELES (AP) — It’s her, hi — Taylor Swift is Spotify’s 2023 most-played artist. According to Spotify Wrapped, Swift was 2023's most-streamed artist globally, raking in more than 26.1 billion streams since January 1. It's not such bad news for Bad Bunny, however: his 2022 album “Un Verano Sin Ti” was Spotify's most-streamed album for the second year in a row, raking in 4.5 billion global streams. Political Cartoons View All 1270 ImagesMiley Cyrus' empowerment anthem “Flowers” is Spotify’s most-streamed song of the year with 1.6 million streams globally. “Kill Bill” by SZA is the second most-streamed song of the year, while Harry Styles' “As It Was,” BTS member Jung Kook featuring Latto's “Seven,” and Eslabon Armado and Peso Pluma's “Ella Baila Sola” came in third, fourth and fifth, respectively.

Persons: — It’s, Taylor Swift, Swift, Bunny, Drake, It's, Taylor Swift's, SZA's, ”, Karol G's “, Miley Cyrus, “, Bill ”, SZA, Harry Styles, Jung Kook, Latto's, Armado, Pluma's “ Ella Baila Sola ”, Morgan Wallen, Wallen's, Wallen’s, Luis Fonsi, Yankee, Justin Bieber’s “ Organizations: ANGELES, Spotify, Puerto, Apple Music Locations: He's, Mexican, Será, U.S

However, you may still owe taxes if you made a profit on resold Taylor Swift tickets, experts say. While third-party payment apps won't report as many business transactions to the agency this year, you are still required to pay taxes on profits, including resold concert tickets. "The big thing this past year was selling Taylor Swift concert tickets," said certified financial planner Tommy Lucas, an enrolled agent at Moisand Fitzgerald Tamayo in Orlando, Florida. 'If you want to follow the law ... report it'Ticket profits have always been taxable, and this may affect those who resold Taylor Swift concert tickets this summer. Keep copies of your purchase receipts for goods you later resell, such as those Taylor Swift tickets, since tax liability will be based on your sales proceeds minus the original purchase price.

Persons: Taylor Swift, Buda Mendes, tas23, Tommy Lucas, Moisand Fitzgerald Tamayo, Swift, Taylor, Lucas, James Guarino, Baker Newman Noyes, it's, Albert Campo Organizations: Getty, IRS, PayPal, TicketMaster, Accounting Services, CNBC Locations: Orlando , Florida, Boston, New Jersey

☆ Gen Z, millennials are ‘house hacking’ to become homeowners in a tough market. How the strategy can help
▼ + stars: | 2023-11-26 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +2 min

Gen Z and millennials are "hacking" the housing market as high prices and interest rates make affordability difficult. The term "house hacking" refers to the practice of renting out a portion of your home or an entire property for an additional stream of income. Almost 4 in 10, 39%, of recent homebuyers say the practice represents a "very" or "extremely" important opportunity, according to a new report by housing market site Zillow. In Zillow's survey, more than half of millennial, 55%, and Gen Z home buyers, 51%, expressed positive views on house hacking. The average rate for 30-year mortgages hit 8% in October, the highest level seen in 23 years, according to Bankrate.

Persons: Z, Gen, Zillow, homeownership, Manny Garcia Organizations: Finance, Homebuyers Locations: U.S

☆ Toyota, Honda among 2.3 million vehicles recalled in November. How to make sure your car is fit for long-distance travel plans
▼ + stars: | 2023-11-23 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +1 min

"It's common for there to be a recall when there haven't been any incidents yet," said Moody. For the Nov. 16 recall on damaged engines, drivers should expect to receive a notification on Jan. 2, 2024. Travel plans 'will depend on the nature of the recall'As to whether or not travel plans should be altered, the decision will depend on the nature of the recall, said McParland. "If the recall says possible transmission failure, that's a lot more risky for long-distance travel versus a glitchy navigation system," McParland said. "Usually rentals are not covered" as part of the recall repair, McParland said.

Persons: haven't, Brian Moody, Kelley, Moody, It's, McParland Organizations: Maskot, Getty, Honda's

☆ A diamond engagement ring is an ‘emotional purchase,’ analyst says. Here's what to know about lab-grown vs. natural gems
▼ + stars: | 2023-11-17 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +3 min

However, unlike natural diamonds, lab-grown stones don't increase in value at all. Natural diamonds were 'a winner' during the pandemicMan proposing to his girlfriend on Christmas Eve. Shoppers will also need to consider that the supply of natural diamonds is declining as the world runs out of resources, he added. Man-made diamonds might come to be considered "costume jewelry" in the future, said Benjamin Khordipour, manager of Estate Diamond Jewelry in New York. "People looking to buy an engagement ring or a piece of fine jewelry are going to continue to want natural diamonds."

Persons: Bryan Miguel, Zimnisky, Martin, Kay Jewelers, Benjamin Khordipour Organizations: Signet, Signet Jewelers, Jewelry Locations: U.S, Zales, New York

☆ Turkeys are cheaper, but inflation is 'clearly impacting' Thanksgiving food costs, economist says. Here's how to save
▼ + stars: | 2023-11-15 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +5 min

The cost of turkey represents 45% of the classic Thanksgiving basket of food prices the bureau tracks. "Inflation is still clearly impacting food prices," Veronica Nigh, senior economist of AFBF, said in a press call. People are paying more at the grocery store. Consumers can expect to pay around 20% less for fresh cranberries compared to a year ago while canned cranberry sauce is up 7% from last year, Wells Fargo found. It "might actually be cheaper to go to a grocery store that you're not used to going to," Palmer said.

Persons: Veronica, AFBF, Kimberly Palmer, There's, Wells, Mark Hamrick, Maren Caruso, Palmer Organizations: American Farm Bureau, Finance, UBS, Bankrate, Stone Locations: U.S, Puerto Rico, . Ham, Wells Fargo

☆ Donating a used car may serve as a charitable gift this holiday season — but it's unlikely to benefit your taxes
▼ + stars: | 2023-11-14 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +3 min

Additionally, the value of non-cash charitable contributions is limited to 50% of your adjusted gross income, which can be a "real hassle" if you're donating a newer used car, which are "valuable right now," he said. The donor must include the 1098-C when they file their individual tax return, and detail the donation on Schedule A. If you made more than $5,000 in non-cash charitable contributions, you'll also fill out Form 8283, Lucas said. Even if you don't see a tax benefit, you relieve the charity of the effort and expense of repairing and selling the car. How to vet a nonprofit for a car donationIf you plan to donate a car, make sure the organization is a 501(c)(3) organization, Campo explained.

Persons: Manusapon, Albert J, Lucas, you'll, Campo Organizations: AJC Accounting Services, IRS Locations: Manalapan , New Jersey

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