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Crypto during a recession: Here's what to expect

Consumer / Home and Consumer News /

Bitcoin, the largest cryptocurrency in the world, was created in 2009 during the depths of the great financial crisis. It took a while to gain traction, but it, along with other cryptocurrencies, has since exploded into a major market worth around $1 trillion.

But with the broad crypto market falling sharply from all-time highs reached in ...Read more

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Consumer prices are soaring. Here are the best ways to protect your savings

Consumer / Home and Consumer News /

While inflation is at the highest it’s been since the early 1980s, many people — especially those living paycheck to paycheck — may be struggling to save any money at all.

Inflation is likely to remain high, with most economists polled in Bankrate’s Second-Quarter Economic Indicator survey predicting inflation will remain as expected or...Read more

Dreamstime/Dreamstime/TNS

'Unmortgaged millennials': What a new study reveals about millennial homebuyers

Consumer / Home and Consumer News /

Millennials — those between ages 26 and 41, also sometimes called Generation Y — now represent the biggest population cohort in America. And while lots of them dream of homeownership, many find themselves priced out of the housing market. In fact, nearly half of millennials who do not yet own a home are pessimistic that they may ever be able...Read more

Konstantin Kolosov/Dreamstime/TNS

Credit card balances rise above pre-pandemic high, as inflation hits

Consumer / Home and Consumer News /

Consumers continue to take on more credit card debt as inflation hikes up their spending.

Consumer revolving debt — which is mostly based on credit card balances — gained $14.8 billion on a seasonally adjusted basis in June. It’s now up to $1.125 trillion, taking it past its pre-pandemic high, according to the Fed’s G. 19 consumer ...Read more

Mel Melcon/Los Angeles Times/TNS

'I was in shock': California rents are spiking -- and not only where you'd expect

Consumer / Home and Consumer News /

When Santa Monica resident Rob Leonard got a notice telling him that rent for his one-bedroom apartment would go up $100 a month starting in September, he had to read the letter several times because he thought there was a mistake.

"I was in shock," he said. "Twelve hundred dollars a year — that's people's grocery money. That's gas. I have a ...Read more

Dreamstime/Dreamstime/TNS

Fewer people are moving as interest rates, rents rise

Consumer / Home and Consumer News /

Most people move during the spring and summer months, but many would-be movers stayed put this May and June amid higher interest rates and rising rents, according to change-of-address data from the U.S. Postal Service.

Every state saw fewer people moving in compared with the same time last year, but the declines were most pronounced in New York...Read more

Mariah Tauger/Los Angeles Times/TNS

They worried about long-term housing for their disabled son -- until they built an ADU

Consumer / Home and Consumer News /

LOS ANGELES -- Walking into the sunlit accessory dwelling unit just steps from his family's home in Culver City, Adrian Perez places his hands on the wall of his bedroom and smiles broadly.

"Adrian likes to touch everything," explains his mother, Andrea Villicana. "When the ADU was completed, he knocked on all the walls and tested the acoustics...Read more

The short-term rental market took off during the pandemic's real estate boom, but at what cost?

Consumer / Home and Consumer News /

Needing places to either work from temporarily or vacation as they escaped pandemic restrictions, COVID fleers made South Florida one of their top destinations.

And with them came an increased need for short-term housing, or vacation rentals.

“It appears mostly in the Sunbelt states, particularly in Florida, in South Carolina, where we have ...Read more

Real estate Q&A: How can I stop neighbor from pointing flood light at my house?

Consumer / Home and Consumer News /

Q: My neighbor and I had a falling out, after which he set up a bright flood light that points directly into my home. I cannot keep the blinds open on an entire side of my house. He also harassed me in other ways, such as throwing junk over the fences and making loud noises at inappropriate times. What can I do? — Anonymous

A: I usually ...Read more

Brian van der Brug/Los Angeles Times/TNS

Housing slowdown? Looming recession? Not for the ultra-rich buyers of LA's 8-figure condos

Consumer / Home and Consumer News /

To unveil one of the grandest penthouses ever to be built in Los Angeles, its developers threw a little dinner party.

Two dozen of L.A.’s top real estate agents — the sunglasses-indoors kind who regularly appear on reality television — were tended to by a cadre of young women in identical cream outfits, hired for the evening to serve as �...Read more

Nhat V. Meyer/Bay Area News Group/TNS

California's Deaf community is leading push for affordable teacher housing

Consumer / Home and Consumer News /

During the day, Mel Vezina supervises and mentors high school boys who live on campus at the California School for the Deaf in Fremont.

At night, he sleeps in his van.

One year ago, after working for more than a decade at the school, and living out of his van, Vezina saved enough money to buy a house in Sacramento with the help of a roommate. ...Read more

Here's how much you need to earn to buy a home in the Bay Area

Consumer / Home and Consumer News /

Thinking of buying a home in the Bay Area? You’ll need to make at least $250,000 a year to comfortably afford it.

That’s by far the highest homebuyer salary necessary anywhere in the country, and more than triple the average required nationwide income of $75,000 a year, according to a recent report by mortgage data website HSH.com.

The Bay...Read more

RJ Sangosti/The Denver Post/TNS

In Colorado mountain towns, where affordable housing is scarce, 'even living out of your car is gentrified'

Consumer / Home and Consumer News /

SALIDA, Colorado — Blocked from sleeping in vehicles parked within municipal boundaries, workers in profit-minded Colorado mountain towns now must seek “safe outdoor space” — in Walmart lots, forests or newly designated areas with Wi-Fi and access to bathrooms.

But homeowners oppose these SOS zones in Salida and Breckenridge as “band-...Read more

Searches for 'sell my house' soar as housing market changes

Consumer / Home and Consumer News /

More people are looking to put their homes on the market as internet searches for selling a house have shot up.

Searches online for “sell my house” have soared in the United States, rising 147% as of July, according to an analysis of Google Trends by luxury home brands Ruby Homes.

“The analysis reveals that searches for ‘sell my house�...Read more

Student-loan freeze led to big credit-score gains, NY Fed says

Consumer / Home and Consumer News /

The pandemic-era freeze on student debt payments has “dramatically” improved credit scores for Americans who borrowed money to pay for college, the Federal Reserve Bank of New York said.

About 30 million people saw improvements in their risk profile, with the biggest gains going to borrowers who were delinquent before the pandemic, New ...Read more

Howard Lipin/San Diego Union-Tribune/TNS

Meme-stock frenzy returns, baffling Wall Street's 'smart guys'

Consumer / Home and Consumer News /

Retail traders who lurk in forums like Reddit’s WallStreetBets are back to betting against Wall Street pros and the Federal Reserve as rallies for meme stocks like Bed Bath & Beyond Inc. and AMC Entertainment Holdings Inc. show shades of last year’s mania.

The home-good retailer nearly tripled at one point during its nine-day winning streak...Read more

HEATHER AINSWORTH FOR KHN/KHN/TNS

Nursing homes are suing the friends and family of residents to collect debts

Consumer / Home and Consumer News /

ROCHESTER, N.Y. — Lucille Brooks was stunned when she picked up the phone before Christmas two years ago and learned a nursing home was suing her.

“I thought this was crazy,” recalled Brooks, 74, a retiree who lives with her husband in a modest home in the Rochester suburbs. Brooks’ brother had been a resident of the nursing home. But ...Read more

Sterling Bay/Hartshorne Plunkard/Sterling Bay/Hartshorne Plunkard/TNS

The Great Fire slowed interest in wood buildings, but Chicago's first mass timber tower could soon take shape

Consumer / Home and Consumer News /

CHICAGO — Developer Sterling Bay is set to begin construction of Chicago’s first mass timber building, a nine-story, apartment tower in the Lincoln Park neighborhood. If approved by City Council, the $50 million development may kick off widespread use of the modern technique, already popular in other cities, which boosters claim is more ...Read more

Dreamstime/Dreamstime/TNS

The US climate bill could make now the best time to go solar

Consumer / Home and Consumer News /

If signed into law as written, the climate bill before the U.S. Congress would change the calculus for American households thinking about going solar. The legislation stands to make that transition more affordable while also subsidizing purchases of electric cars, heat pumps, high-tech water heaters and battery-storage systems — clean-energy ...Read more

Dreamstime/Dreamstime/TNS

Socially responsible investing 2022: How to get started in 6 steps

Consumer / Home and Consumer News /

If you want to put your dollars into causes you care about, one of the easiest ways to get started is through socially responsible investing. The strategy prioritizes financial return with the caveat that the money is invested to fuel positive change in three key areas: environmental, social and corporate governance (ESG). Perhaps you’re ...Read more