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☆ California Rep. Maxine Waters introduces bills to spend hundreds of billions of dollars to fight homelessness and solve the affordable housing crisis
▼ + stars: | 2023-06-27 | by ( Eliza Relman | ) www.businessinsider.com time to read: +3 min

Rep. Maxine Waters, a California Democrat, introduced a trio of bills addressing the housing crisis. They would expand housing vouchers and send $100 billion to help first-generation homebuyers. The legislation — which includes expanding housing vouchers and sending $100 billion to help first-time, first-generation homebuyers — is focused on reducing the racial wealth gap. One bill — the Housing Crisis Response Act of 2023 — includes over $150 billion in funding for affordable housing and investments in closing the racial housing gap. Overall, just one in six eligible families live in public housing, receive a rent-reducing voucher, or live in a subsidized multifamily unit, according to the US Census Bureau.

Persons: Maxine Waters, —, Waters Organizations: California Democrat, Service, Interagency, Homelessness, Census Bureau, Financial Services Locations: California

Washington, DC CNN —New home sales surged in May, as buyers looked to new construction as an alternative to the low inventory of existing homes for sale. Homeowners with ultra-low mortgage rates are reluctant to sell and buy another home at a much higher rate. Sales of existing homes have been down for the past few months, while new home sales have been rising. Mortgage rates reached as high as 6.79% at the end of May as uncertainty moved through the financial industry due to the debt ceiling standoff. This increase in mortgage rates cooled mortgage applications.

Persons: “, ”, Nancy Vanden Houten, Ryan Sweet, Eugenio Aleman, Raymond James, ” Aleman Organizations: DC CNN, US Department of Housing, Urban Development, Census Bureau, Oxford Economics, Federal Reserve Locations: Washington, Northeast, South, West

☆ Homebuyers rejoice: There are more homes coming soon to a neighborhood near you
▼ + stars: | 2023-06-20 | by ( Alcynna Lloyd | Noah Sheidlower | ) www.businessinsider.com time to read: +4 min

Housing starts — also known as new home construction — rose at the fastest monthly rate since 2016. As the Fed pauses its rate hikes, mortgage rates are trending lower and consumer sentiment is rising. Between April and May, housing starts rose by the fastest month-over-month rate since 2016. Single-family housing starts increased 18.5% to a seasonally adjusted annualized rate of 997,000 and multi-family housing starts climbed 27.1% to an annualized 634,000 pace. However, as the Fed adjusts its monetary policy and pauses its rate hikes, mortgage rates are trending lower and more homebuyers are returning to the market.

Persons: —, Alicia Huey, Robert Dietz, NAHB, bode, Dietz, it's Organizations: Housing, Service, Census Bureau, Bloomberg, Federal, Builders, National Association of homebuilders, National Association of Home Builders, Federal Reserve Locations: Wells Fargo

But even with her salary and subsidies, Smith couldn't afford childcare. Vermont offers higher income eligibility and larger amounts for childcare subsidies than New Hampshire. During the pandemic, the Biden administration offered childcare assistance for both parents and childcare providers, but this money is set to run out in September. "My motherhood is deeply woven into how I think and how I work because it's all care work. She wants parents to feel comfortable openly saying that they're overwhelmed and can't afford childcare.

Persons: —, Smith, Smith isn't, It's, Michelle McCready, Jess Carson, Carson, McCready, Biden, James Heckman, they're Organizations: American, Service, Craigslist, US Census Bureau, America, Center for Social, University of New, Carsey, of Public Policy, New Hampshire ., US Locations: Grant's, Hampshire, Vermont, New Hampshire, New Hampshire . Vermont

☆ Black Americans are getting support for reparations from other multiracial groups
▼ + stars: | 2023-06-18 | by ( Stephanie Elam | ) edition.cnn.com time to read: +10 min

Mass is part of a growing wave of multiracial support for Black American reparations – with many Jewish and Japanese organizations among them. It’s just human beings.”Amy Iwasaki Mass reads her 1981 testimony in favor of redress for Japanese Americans held in internment camps during World War II. “But I do think Japanese Americans as a group do understand what it’s like to be excluded on the basis of race.”Acknowledging the cost of historyPassage of the Civil Liberties Act of 1988 gave affected Japanese Americans the $20,000 payment and a formal letter of apology from President Ronald Reagan. Tamaki and Simon agree that arguments against reparations fail to acknowledge the cost of being part of a society. That’s called being a citizen.”Tamaki agrees that the work to repair the damage done to Black Americans is expensive and arduous, but it must begin at some point.

Persons: Amy Iwasaki, “ It’s, Stephanie Elam, San Francisco –, Don Tamaki, ” Tamaki, Ronald Reagan, Mass, …, Tamaki, ”, Don Tamaki's, Don Tamaki Tamaki, there’s, ” Tamaki mused, San Francisco, Timothy Alan Simon, ” Simon, Franciscan Timothy Alan Simon, San Francisco's, CNN “, “, Simon, ’ …, That’s, it’s Organizations: CNN, Black, California –, Force, Civil, University of California, Topaz, ”, Franciscan, California African American Chamber of Commerce, American Locations: Japan, Pearl, California, San, Heart Mountain , Wyoming, Wyoming, San Francisco Bay, Berkeley, Tanforan, San Bruno , California, Apt, Utah, Northern California, San Francisco, Franciscan, Francisco, Bay, state’s, America

☆ Cinemark is shutting its theater in San Francisco's biggest mall as the downtown exodus continues
▼ + stars: | 2023-06-15 | by ( Grace Dean | ) www.businessinsider.com time to read: +3 min

The Cinemark in San Francisco's Westfield mall is closing due to "local business conditions." Major retailers have been pulling out of San Francisco, and many have attributed it to crime levels. The 52,000-square-foot site in the Westfield San Francisco Center will have its final screenings on Thursday, SFGATE reported. The operator announced the closure in an email to patrons on Wednesday, The San Francisco Examiner reported. The announcement came just days after The San Francisco Chronicle reported that Westfield had stopped paying its $558 million mortgage on the San Francisco mall – the city's biggest – and was surrendering it to lenders.

Persons: —, SFGATE, Cinemark, hasn't Organizations: Westfield, Service, Westfield San Francisco, San Francisco Examiner, San Francisco Centre, San Francisco Chronicle, San, Foods, Navy, Nordstrom, City, San Francisco Police Department, Census Bureau, Tourism Locations: San, Westfield, San Francisco, City and County, Florida, San Francisco's

☆ Women are jumping at the chance to be their own boss
▼ + stars: | 2023-06-14 | by ( Josée Rose | ) www.businessinsider.com time to read: +5 min

Women often see a big advantage to doing independent work instead of having a permanent job. Around 48% made more money from their independent work in 2022, up from 40% reporting an increase in 2021. Professional services, whether they be legal, accounting, or consulting, make up a significant portion of the independent professional workforce in the US, Amon said. The report included responses from 738 completed surveys from an online research panel in March and focused on three industries: creative services, skilled technical services, and skilled professional services. A 60-year-old woman in Virginia quoted in the survey saw independent work as a way to achieve freedom and bring in more money.

Persons: —, Gali, Amon, Fiverr Organizations: Service, Rockbridge Associates Locations: Fiverr, Gali Amon, Alabama, Virginia

☆ Candles, clocks and throw pillows: 3 charts show how Home Depot and Lowe’s pivoted to “soft-DIY”
▼ + stars: | 2023-06-10 | by ( Christopher Hickey | ) edition.cnn.com time to read: +6 min

The SEC data analyzed by CNN shows that home decor sales have doubled at both Home Depot and Lowe’s in that time period. By 2022, decor products accounted for 5.4% of Lowe’s sales – more than the tools, building materials, flooring or hardware categories. In 2019, year-over-year net sales at Home Depot and Lowe’s grew by roughly 2% and 1%, respectively. In 2020, Home Depot sales grew by nearly 20%, while Lowe’s saw sales jump by roughly 24%. While still primarily home improvement retailers, expanding into home decor was simply a logical opportunity for Home Depot and Lowe’s, Saunders said — especially online.

Persons: Neil Saunders, ”, it’s, ” Lowe’s, Lowe’s, Saunders, Barbara Kahn, they’re, ” Khan, “ They’re, Ted Decker, won’t, ” Saunders Organizations: CNN, SEC, Global, Home, Depot, Home Depot, ”, University of Pennsylvania’s Wharton School, Advance, US Census Bureau Locations: Lowe’s

☆ Gen Zers are skipping New York and LA and flocking to smaller cities with cheaper homes, great jobs, and lots to do
▼ + stars: | 2023-05-30 | by ( Kelsey Neubauer | ) www.businessinsider.com time to read: +8 min

Alex Akmal and her partner, Alex, along Memorial Union Terrace on Lake Mendota. In the case of Gen Z, one move often begets another, according to one demographer. Gen Z bonds have been cemented even more because many young people are delaying marriage and having children, the center found. After her studies, she said she might move to Washington, D.C., an even larger Gen Z hangout with those offerings and more. Cities must evolve for the futureFor whatever reason they are coming to these cities, these Gen Zers are here to stay.

In 2019, Pew Research Foundation officially established a generation after millennials, Generation Z. Generation Z includes anyone born between 1997 and 2012. The newest addition to today's workforce is Generation Z, born between 1997 and 2012. Meanwhile, most of Generation Z doesn't remember the event at all. "We look forward to spending the next few years studying this generation as it enters adulthood," Dimock wrote of Generation Z, adding that it's always possible that new data could give researchers a reason to reevaluate these generational boundaries.

☆ There's one big reason why workers don't want to go back to the office 5 days a week
▼ + stars: | 2023-05-27 | by ( Sam Tabahriti | ) www.businessinsider.com time to read: +3 min

Few workers enjoy the hassle of commuting to the office five days a week. Studies show that commuting is the main reason many don't want to stop working from home. A recent report by Centre for Cities, a UK think tank, suggested that policymakers should "encourage the benefits of office working while reducing the costs to workers of doing so." But Paul Swinney, its policy and research director, told Insider that employers could say commuting costs are covered by salaries, leaving companies "reluctant to set a precedent." ShutterstockBut many workers don't just regard commuting as a waste of money.

Some popular big cities are losing residents, US Postal Service change-of-address requests indicate. Requests made in 2023 also show that smaller spots outside big cities have tended to gain residents. Smaller spots outside larger urban hubs, meanwhile, are attracting more residents than they're losing. Many people move over the summer to avoid pulling kids out of school midyear, so end-of-year change-of-address data may shed light on other patterns. Also, bigger cities are more likely to both lose and gain people because of their larger populations; the USPS doesn't adjust its numbers according to population.

While buying a house can set you up for financial success, renting comes with its own benefits, like flexibility. If you can't afford a down payment or monthly payments, you may want to continue renting for now. Homeownership also costs more than just the monthly mortgage payment. This includes your mortgage, property taxes, mortgage insurance, homeowners insurance, and HOA fees, but not costs like utility bills. If monthly mortgage payments would be a financial strain, it could be better to keep renting for now.

☆ How Pacific Islanders in the US are keeping in touch with their culture through dance
▼ + stars: | 2023-05-21 | by ( Rachel Ramirez | ) edition.cnn.com time to read: +10 min

“One, two, three,” Hernandez, founder of the Pacific Islander dance group Lei Pasifika, yells out. “It makes them less homesick.”According to the US Census Bureau, Native Hawaiian and Pacific Islanders were the fastest growing ethnic population in the US from 2020 to 2021. And in big cities with a large Pacific Islander presence, like New York, Portland, Oregon, and San Diego, many US-born Pacific Islanders as well as transplants are keeping their culture alive through dance. It’s a way for Pacific Islanders, especially young people, “to find themselves” and get connected with their ethnic identity and cultures, she notes. Mann says they noticed a growing number of Pacific Islanders, including those who aren’t Native Pacific Islanders but grew up in the islands, wanting to learn more about the culture and participate in dances.

☆ These are 10 of the cheapest places in the US you can score a beach house
▼ + stars: | 2023-05-19 | by ( Grace Dean | ) www.businessinsider.com time to read: +2 min

Gulfport, Mississippi, is the most affordable coastal town in the US to buy a house, per Realtor.com. The average price for a house that is located within a mile of the beach in Gulfport is $144 per square foot, making it the cheapest coastal town, per Realtor.com's report. The average cost of a coastal house there was $224,900, it said. Its list is limited to just one beach town per state, and also includes some bayside areas as well as towns next to the ocean. Newport News, a city in Virginia with a population of around 184,000 near Williamsburg, Virginia Beach, and the Atlantic Ocean, comes in second place.

The average FICO credit score in 2022 was 714, and the average VantageScore credit score was 701. 10 states with the highest average credit scoreAccording to data gathered by Experian, the 10 states with the highest average credit scores in 2022 are as follows:States Credit Scores (FICO) Minnesota 742 Vermont 736 Washington 735 Wisconsin 735 New Hampshire 734 South Dakota 734 North Dakota 733 Hawaii 732 Massachusetts 732 Oregon 732The 10 states with the lowest average credit scoreOverall, credit scores have risen over the past couple of decades. How credit scores are categorizedThe range of possible credit scores spans from 300 to 850, which FICO categorizes into five levels called risk categories. Minnesota, with a 742 average score, is the only exception, nudging its way into a "very good" average score. Average credit scores by state frequently asked questionsWhy are credit scores worse in the South?

☆ Advocates want to spend $11 billion to fix Austin's crappy public-transit system. But many critics say the price tag is too high for a system hardly anyone will use.
▼ + stars: | 2023-05-11 | by ( Alcynna Lloyd | ) www.businessinsider.com time to read: +10 min

Officials say an $11 billion public-transit plan could make Austin safer, greener, and more affordable. Austinites voted to approve Project Connect in 2020 when its total price tag was $7.1 billion. However, nearly 50% of the riders of MetroRail — the city's current rail system — earn more than $60,000 a year. Public-transit advocates say the plan is worth the costSupporters of Project Connect are open to lowering its price tag. But on a larger scale, Project Connect supporters say that public transportation provides better access to healthcare, education, employment, and affordable housing.

☆ A change in Turkish leadership might not spell the end of ties with Russia
▼ + stars: | 2023-05-08 | by ( Nadeen Ebrahim | ) edition.cnn.com time to read: +7 min

The strengthening ties between Erdogan and Putin have caused jitters in the West, with some watching the upcoming elections with anticipation of a possible Erdogan exit. That makes Russia among Turkey’s biggest trade partners. The European Union, as a bloc, however remains Turkey’s largest trade partner, with bilateral trade reaching around $219 billion, according to the European Commission. But while relations with the EU might improve if the opposition wins, the road may be longer and more challenging with the US, experts say. “When we mention Turkey’s relationship with the West… we sometimes take both ends of the Atlantic (as one),” Isci said.

☆ Oklahoma bodies found: Convicted sex offender Jesse McFadden and 2 teen girls among 7 bodies found at his home
▼ + stars: | 2023-05-02 | by ( Tina Burnside Caroll Alvarado Eric Levenson | Tina Burnside | Caroll Alvarado | ) edition.cnn.com time to read: +4 min

CNN —A convicted sex offender and two missing teenage girls were believed to be among seven bodies found at the man’s Oklahoma home on Monday, authorities said. Brittany Brewer, 16, left, and Ivy Webster, 14, right, were the subject of an endangered/missing advisory issued by the Oklahoma Highway Patrol. From Nathan Brewer/Okmulgee County Sheriff's OfficeThe seven bodies were found at a property where McFadden lived and was listed as his home in the Oklahoma Sex Offender Registry. “Our hearts are hurting, and we have considered what would be best for our students in the coming days,” the school system said. “Please continue to keep these families in your thoughts and prayers.”Located in central Oklahoma, Henryetta had a population of 5,640 at the 2020 US census.

The bodies were found at a property in Henryetta, a city about 90 miles from Oklahoma City, authorities said. The bodies were found “not in the residence, but just on the property,” Oklahoma State Bureau of Investigation spokesperson Gerald Davidson told reporters Monday. “Our hearts are hurting, and we have considered what would be best for our students in the coming days,” the school system said. The school system added that classes would not be canceled and that students would have access to mental health professionals and faith-based clergy. “Please continue to keep these families in your thoughts and prayers.”A vigil for the “families affected by this tragedy” was scheduled for Monday evening, the school system said on Facebook.

☆ Gen Zers are taking over college cities — after they graduate
▼ + stars: | 2023-04-26 | by ( Kelsey Neubauer | ) www.businessinsider.com time to read: +7 min

Gen Z is moving in droves to college towns after they get their degree. Alex Akmal and her partner, Alex, along Memorial Union Terrace on Lake Mendota. Gen Z bonds have been cemented even more because many young people are delaying marriage and having children, the center found. After her studies, she said she might move to Washington, D.C., an even larger Gen Z hangout with those offerings and more. For whatever reason they are coming to these cities, these Gen Zers are here to stay.

☆ Menopause-related symptoms linked to billions of dollars in medical expenses and lost days of work, study suggests
▼ + stars: | 2023-04-26 | by ( Carma Hassan | ) edition.cnn.com time to read: +2 min

CNN —Symptoms linked to menopause such as hot flashes, night sweats and sleep disturbances can add up to billions of dollars in medical expenses and lost productivity in the workplace, according to a study published Wednesday in journal Mayo Clinic Proceedings. Researchers surveyed about 5,000 women ages 45 to 60 who are primary care patients at the Mayo Clinic; 4,440 of the women were employed at the time of the study. The survey, given in 2021, assessed the women’s symptoms using the Menopause Rating Scale (MRS). Researchers found that the mean total MRS score was 12.1, which indicates a “moderate menopause symptom burden.”“Menopause symptoms pose workplace challenges that may manifest as higher levels of lost work productivity (presenteeism), lost days of work (absenteeism), and greater numbers of outpatient medical visits,” the researchers wrote in the study. “Clinicians need to ask women about menopause symptoms and offer guidance and treatment, and employers need to create and implement workplace strategies and policies to help women navigate this universal life transition,” Faubion said.

☆ New home sales rise for the fourth month in a row
▼ + stars: | 2023-04-25 | by ( Anna Bahney | ) edition.cnn.com time to read: +2 min

Washington, DC CNN —New home sales rose in March, climbing for the fourth month in a row as mortgage rates eased and buyers looked to new construction as an alternative to the tight inventory of existing homes for sale. Sales of new single‐family houses were at a seasonally adjusted annual rate of 683,000, up from a revised 623,000 in February. After climbing through much of February, mortgage rates were as high as 6.73% March. In a bit of a setback for buyers, prices of new homes rose from February, the report showed. This is a supply of 7.6 months at the current sales pace, down from 8.2 months of supply last month.

☆ More women now make as much as their husbands, but still do more at home
▼ + stars: | 2023-04-16 | by ( Jeanne Sahadi | ) edition.cnn.com time to read: +3 min

New York CNN —Few women will be surprised to learn that even when wives earn about the same as their husbands or more, a new Pew Research Center study finds that they still spend more time on housework and child care, while their husbands spend more time on paid work and leisure. In these marriages women earn a median of $88,000 to their husbands’ $35,000. Women most likely to be the biggest earnerToday, which women are most likely to be the primary or sole breadwinners can vary by age, family status, education and race. For instance, Pew found Black women are “significantly more likely” than other women to earn more than their husbands. For instance, 26% of Black women bring home more than their husbands, while only 17% of White women and 13% of Hispanic women do.

☆ Republican state officials in Louisiana ask lawmakers to ban the study of racism at universities, citing divisive 'inglorious aspects' of US history
▼ + stars: | 2023-04-16 | by ( Katie Balevic | ) www.businessinsider.com time to read: +4 min

The Louisiana GOP wants to prohibit the study of racism at state colleges and universities. A GOP resolution, seen by NOLA.com, claimed the "inglorious aspects" of American history were too divisive. It comes amid a nationwide GOP effort to scrub race issues from public schools and public life. GOP Party officials in the state want Louisiana lawmakers to prohibit the study of racism at colleges and universities, claiming the "inglorious aspects" of American history are too divisive, according to NOLA.com, which cites a GOP resolution on the matter. According to NOLA.com, the GOP resolution argued that "DEI bureaucracies" act as "divisive ideological commissariats," criticizing programs at LSU and the University of Louisiana System.

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