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Homebuilders bet on 1% mortgage rates to wake up US buyers
With the average mortgage rate near 6%, U.S. homebuyers are looking at the most affordable monthly payments in a year. But San Antonio real estate agent Tavyn Weyman knows how to get them lower — much lower.
The trick is simple: buy new.
In markets across the U.S., homebuilders sitting on unsold inventory are subsidizing mortgage rates so ...Read more
What first-time homebuyers need to know before buying a fixer-upper
If you’re a first-time homebuyer with a tight budget, should you consider a fixer-upper? It depends whether you’re willing to be uncomfortable — possibly for a long time.
For some, buying a fixer-upper is a great way to build equity and customize their home. For others, it’s a source of inescapable stress.
“Maybe they’ve never even...Read more
Everyday Cheapskate: 4 Ways to Make Safe Problem-Free Homemade Fabric Softener
Fabric softeners are designed to reduce the amount of static in synthetic fibers and make laundry come out feeling soft and smelling great. These products contain lubricating ingredients that help coat and "soften" fibers in fabrics when added to your laundry load in the form of liquid, powder or dryer sheets.
So why would anyone opt to go to ...Read more
In historic vote, LA caps rent increases for rent-stabilized apartments at 4%
Los Angeles strengthened its rent stabilization law for the first time in 40 years Wednesday, setting a 4% ceiling on annual rent increases for a massive portion of the city’s housing stock.
The historic vote by the L.A. City Council will help set rents for decades to come for tenants who live in units built before 1978 — nearly half of the...Read more
Los Angeles may cap rent increases for rent-stabilized apartments at 3%. Landlords cry foul
Valerie Valentine bought a triplex in South Los Angeles two weeks ago, and already she wonders whether she made a terrible investment.
Bills are immediately adding up for the small-time landlord, from $1,000 to get the water turned on to $6,000 in annual property taxes. She worries that the amount she collects in rent will not be enough to ...Read more
Everyday Cheapskate: Surprisingly Useful Ways to Use Dryer Sheets Around the House
Apparently, I'm a slow learner. I can't think of another reason it took years to associate my sons' and husband's itchy skin problems with the dryer sheets I used.
While we didn't experience respiratory problems that are often associated with fabric softeners, there is credible medical evidence that the perfumes and additives in laundry ...Read more
Trump's 50-year mortgage loses steam as industry questions costs
Days after Donald Trump’s party lost several key election contests that centered on cost-of-living concerns, the president floated the prospect of a 50-year mortgage to help voters tackle one of their top concerns: housing affordability.
“All it means is you pay less per month,” Trump said in an interview that aired on Monday.
Yet the ...Read more
Everyday Cheapskate: No More Sleeping Through the Alarm and More Handy Tips
Surprise! Instead of sharing tips you've sent to me, I've decided to hog the entire column to share some of my own. Several of these are oldies but goodies, while some I have discovered recently. I do love a great tip.
PHONE ALARM VOLUME BOOSTER
If you're a heavy sleeper and have trouble hearing your cellphone's alarm, you can boost the volume...Read more
AI's $5 trillion data-center boom will dip into every debt market, JPMorgan says
The furious push by AI hyperscalers to build out data centers will need about $1.5 trillion of investment-grade bonds over the next five years and extensive funding from every other corner of the market, according to an analysis by JPMorgan Chase & Co.
“The question is not ‘which market will finance the AI-boom?’ Rather, the question is �...Read more
A fourth tier of credit cards has begun to emerge
For a long time, credit cards have generally fallen into three tiers: no-annual-fee cards, mid-tier cards with annual fees around $95 and premium cards with annual fees measured in the hundreds (these used to cluster around $400 or $500 per year, now it’s more like $800 or $900 in many cases).
The upmarket migration of luxury credit cards ...Read more
Everyday Cheapskate: Best Foods to Freeze (and Why You Should Try This)
When most of us think of the freezer, we picture two things: ice cream and meat. Maybe there's also a bag of peas in there that looks like it's been through three presidential administrations. But here's the thing: Your freezer is one of the most overlooked money-saving tools in your kitchen.
Used wisely, it stretches your grocery budget, cuts ...Read more
Real estate Q&A: How can we keep our kitchen remodel from becoming a nightmare?
Q: We finally saved up enough money to remodel our kitchen. But after seeing some homes get remodeled for our friends, we’re a little concerned about the process. Do you have any tips? —Mandy
A: Remodeling your kitchen can be an exciting project, but it also needs careful planning and preparation. For some people, the process goes smoothly,...Read more
Seattle-area homeowners stay put at record rates, stalling buying cycle
Seattle-area homeowners are holding onto their properties at record rates — jamming up the region’s normal cycle of buying and selling.
Redfin tracks home turnover rates by looking at what percentage of a region’s overall homes changed ownership over a period of time. In the first nine months of this year, just 20 out of every 1,000 homes...Read more
Everyday Cheapskate: 3 Reasons I Cook (and Bake!) with Sunshine
On one ordinary day back in 2012, a hefty envelope turned up in my snail mail containing a very kind letter along with a mechanical drawing so detailed it made me want to chew my hair. The sender thought I would be the perfect person to build my own solar oven. Right. Like that was ever going to happen. The idea of cooking with sunshine did, ...Read more
Why fears of a trillion-dollar AI bubble are growing
For almost as long as the artificial intelligence boom has been in full swing, there have been warnings of a speculative bubble that could rival the dot-com craze of the late 1990s that ended in a spectacular crash and a wave of bankruptcies.
Tech firms are spending hundreds of billions of dollars on advanced chips and data centers, not just ...Read more
Everyday Cheapskate: Trucs in the Kitchen
Fast-food runs, deli detours and grocery carts loaded with prepared food can drain a food budget faster than a houseful of hungry teenagers. The secret for slashing your family's food bill is to cook at home. And the way to become confident in the kitchen is to learn a few strategic trucs of the trade.
"Truc" (rhymes with "fluke") is a French ...Read more
US median first-time homebuyer age now at record-high of 40
The median age of first-time homebuyers in the U.S. has climbed to a record of 40 as soaring prices and mortgage rates over the last few years delay homeownership for millions of Americans.
The age at which people purchase their first home has climbed rapidly since 2021, when the median was 33, according to a National Association of Realtors ...Read more
Everyday Cheapskate: 8 Secrets of a Successful Garage Sale
Whether your goal is to purge your home of stuff you no longer need or raise some cash -- or both -- you have options.
You can sell your items on an auction website like eBay, list them in classifieds on Craigslist or give the stuff away. Or, you can create a killer garage sale that turns your castoffs into cold, hard cash.
PLAN AHEAD. Give ...Read more
Risky business: 3 measures of risk that affect your portfolio
No risk, no return!
How many times have you heard that phrase or something similar?
It’s usually meant to encourage. A rallying cry for entrepreneurship, industry and capitalism, it also alludes to the inverse — that high risk translates into high return. But when it comes to investing, it isn’t quite so simple.
Risk vs. return in ...Read more
Everyday Cheapskate: 8 Ways to Stop Wasting Money
Your paycheck doesn't exactly walk out the front door; it seeps away. Little dribbles here and there: a forgotten return, a subscription you never use, that "risk-free" gadget from a TV ad. On paper, these are small things. But small things have a way of piling up until your money is leaving faster than you can make it.
Want to keep more of ...Read more
Inside Consumer
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