Mortgage affordability in the US is at an all time low

Mortgage affordability in the US is at an all time low, per Bloomberg. A recent surge in U.S. mortgage rates has led to the lowest level of affordability in nearly four decades, leaving prospective homebuyers facing a risky dilemma as they await potential relief. The past year had offered

Credit card losses are rising at the fastest pace since the Great Financial Crisis

Credit card losses are rising at the fastest pace since the Great Financial Crisis, per CNBC. Losses in the credit card sector reached their lowest point in September 2021, and while initial increases likely resulted from the cessation of stimulus measures, they have been steadily climbing since the first quarter

Home prices in the US will fall 30%, per Jeremy Grantham

Home prices in the US will fall 30%, per Jeremy Grantham. This was on a podcast, per BI. "Forty years of lower and lower interest rates push asset prices up, particularly housing through the mortgage mechanism. How can it not? If you can afford to pay more for your

Americans outside the wealthiest 20% of the country have run out of extra savings and now have less cash on hand than they did when the pandemic began

Americans outside the wealthiest 20% of the country have run out of extra savings and now have less cash on hand than they did when the pandemic began, per Bloomberg. For the bottom 80% of households by income, bank deposits and other liquid assets were lower in June this year

Baby boomers are becoming homeless at a rate ‘not seen since the Great Depression'

Baby boomers are becoming homeless at a rate ‘not seen since the Great Depression,' per Moneywise. Numerous individuals from the baby boomer generation across the nation are confronting a stark reality: dedicating one's entire adult life to work no longer guarantees a secure roof overhead during their

The FTC has sued Amazon, $AMZN, claiming it wields monopoly power and stunts competition

The FTC has sued Amazon, $AMZN, claiming it wields monopoly power and stunts competition. The lawsuit, which was joined by 17 state attorneys general, follows a four-year investigation and federal lawsuits filed against Alphabet's Google and Meta Platforms' Facebook. "The FTC and its state partners say

Reddit will start paying real money for posts, where eligible users will be able to convert their Reddit gold and karma into fiat currency

Reddit will start paying real money for posts, where eligible users will be able to convert their Reddit gold and karma into fiat currency. So far, the Reddit contributor program is limited to users in the United States (to start, at least) who are over the age of 18 and

The SEC has collected thousands of staff messages used on private devices from more than a dozen major investment companies

The SEC has collected thousands of staff messages used on private devices from more than a dozen major investment companies, including Carlyle, Apollo, KKR, TPG, Blackstone and Citadel, per Reuters. The regulatory body is currently examining discussions related to work transmitted via personal devices or applications by employees at firms

Justin Trudeau of Canada has said, per NYT: It really sucks right now. Like, everything sucks for people, even in Canada. We’re supposed to be polite & nice, but, man, people are mad.

Justin Trudeau of Canada has said, per NYT: It really sucks right now. Like, everything sucks for people, even in Canada. We’re supposed to be polite & nice, but, man, people are mad. People are mad at governments because things aren’t going all that well & people are

10% of home sales in the US are driven by employees who are forced to end remote work

10% of home sales in the US are driven by employees who are forced to end remote work, per Redfin. Meanwhile, mortgage rates on average 30-year mortgage in the US hit 7.39%, the highest since 2000, per Mortgage News Daily. Meanwhile, the American dream of owning a home is

67% of those making $50,000 to $100,000 are living paycheck to paycheck

67% of those making $50,000 to $100,000 are living paycheck to paycheck, per Bankrate. A third of Americans earning $150,000 a year or more say they're living paycheck to paycheck and many rely on credit cards to close the gap, per Moneywise. The use of

Americans filed more than 39,000 bankruptcy cases in August, an 18% increase from the same point last year

Americans filed more than 39,000 bankruptcy cases in August, an 18% increase from the same point last year. The month of August witnessed a consistent rise in consumer bankruptcies, highlighting the increasing financial distress faced by many individuals. Recent data from Epiq Bankruptcy, a firm specializing in bankruptcy data

British Prime Minister Rishi Sunak is considering introducing measures that would ban those born after 2009 from ever being able to buy cigarettes

British Prime Minister Rishi Sunak is considering introducing measures that would ban those born after 2009 from ever being able to buy cigarettes, per Reuters. Sources within Whitehall have indicated that the Prime Minister is considering implementing measures akin to those introduced by New Zealand in December of the previous

BlackRock, State Street among money managers closing ESG funds

BlackRock, State Street among money managers closing ESG funds, per Bloomberg. BlackRock Inc. and other asset management firms have dedicated years to launching sustainable investment funds, aiming to tap into the growing interest in ESG (Environmental, Social, and Governance) investing. However, they are now discontinuing a growing number of these

A third of Americans earning $150,000 a year or more say they're living paycheck to paycheck and many rely on credit cards to close the gap

A third of Americans earning $150,000 a year or more say they're living paycheck to paycheck and many rely on credit cards to close the gap, per Moneywise. The use of credit cards has been on the rise, driven by the challenges posed by high inflation. In

Hollywood writers reach agreement with studios, streamers to end strike

Hollywood writers reach agreement with studios, streamers to end strike. Screenwriters and prominent Hollywood studios have tentatively reached a three-year agreement, which, pending ratification, would bring an end to one of the strikes that has effectively halted operations in Hollywood. In a letter addressed to its 11,500 members, the

Mortgage rates on average 30-year mortgage in the US hit 7.39%, the highest since 2000

Mortgage rates on average 30-year mortgage in the US hit 7.39%, the highest since 2000, per Mortgage News Daily. Meanwhile, the American dream of owning a home is slipping out of reach as affordability hits its worst point in nearly four decade, per Bloomberg. A recent report from the

55% of households earning less than $50,000 are living paycheck to paycheck

55% of households earning less than $50,000 are living paycheck to paycheck, per MoneyWise. Three in four Americans who earn less than $50,000 are living paycheck to paycheck, compared to roughly two in three of those making $50,000 to $100,000, per BankRate. A summary: 63 percent

The SEC has charged Citadel Securities for violating Order Marking Requirements of Short Sale Regulations

The SEC has charged Citadel Securities for violating Order Marking Requirements of Short Sale Regulations. The fine is 7 million. For over five years, Citadel incorrectly marked millions of orders improperly long vs. short, leading to inaccurate data to regulators Read the full SEC report here: The Securities and Exchange

The American dream of owning a home is slipping out of reach as affordability hits its worst point in nearly four decade

The American dream of owning a home is slipping out of reach as affordability hits its worst point in nearly four decade, per Bloomberg. A recent report from the National Association of Realtors and Realtor.com highlights the alarming state of the US housing market, where more than 75% of

Mortgage demand stalls at a level not seen since 1996

Mortgage demand stalls at a level not seen since 1996, per CNBC. Meanwhile, mortgage applications in the United States have taken a sharp plunge, reaching their lowest point in 28 years, primarily due to a surge in mortgage rates. The latest data from the Mortgage Bankers Association’s (MBA) Weekly

Portugal is the best European country for retirement based on cost of living, healthcare and more

Portugal is the best European country for retirement based on cost of living, healthcare and more, per CNBC. In June, Portugal launched a 'government-funded' 4-day workweek trial. Employers have agreed to reduce the number of hours employees work every week from without cutting their pay through the 100-80-100

A family is suing Google, $GOOGL, after a husband and father of two drove his Jeep over a collapsed bridge in North Carolina while allegedly following Google Maps, causing him to drive into a creek and drown

A family is suing Google, $GOOGL, after a husband and father of two drove his Jeep over a collapsed bridge in North Carolina while allegedly following Google Maps, causing him to drive into a creek and drown, per Forbes. The navigation system allegedly led him over a bridge that had

India has suspended visa services for Canadian nationals

India has suspended visa services for Canadian nationals after diplomatic escalation, with Canada accusing India of killing a Canadian national on Canadian soil, per Bloomberg. “Due to operation reasons, with immediate effect i.e. 21 September 2023, Indian visa services in Canada have been suspended till further notice,” the letter,

4 out of 10 workers don’t contribute any money at all to a 401(k) or employer-sponsored plan

4 out of 10 workers don’t contribute any money at all to a 401(k) or employer-sponsored plan, per CNBC. The average 401(k) balance for a Gen Zer is about $7,100, per Fidelity. Meanwhile, the retirement savings of Gen Z has come into question as a new