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Money markets are insulated, for now, from the stablecoin mess

Consumer / Home and Consumer News /

US money markets have so far proven resilient amid growing turmoil in so-called stablecoins, although investors remain alert to the risk of problems spilling over into key parts of the world’s financial plumbing.

Some stablecoins are backed by assets like Treasury bills and short-term corporate IOUs — key elements of the dollar funding ...Read more

Helen H. Richardson/The Denver Post/TNS

Colorado's most beloved hot dog stand hits the market for $1.5 million

Consumer / Home and Consumer News /

Though it may seem unlikely, this isn’t the first time the Coney Island Boardwalk, the iconic bun-shaped restaurant, has arrived at a crossroads in Colorado.

Ever since it first went splat on West Colfax Avenue in Denver in 1966, the Brooklyn transplant and hot dog stand has become a local roadside legend.

It's now nestled in the mountains ...Read more

Michael M. Santiago/Getty Images North America/TNS

'Meme' and tech stocks are crashing, so how are experienced investors hanging on?

Consumer / Home and Consumer News /

t's a perfect storm for the stock market this year: geopolitical turmoil, high inflation, and higher interest rates in 2022.

And that's driven out many market newcomers, including "meme" stock investors, whose holdings soared and swooned from social media.

"This is a meme stock flush-out, especially for those who were leveraging up to buy ...Read more

Dreamstime/TNS

Real estate Q&A: What's the best way to leave my house to my sons from first marriage?

Consumer / Home and Consumer News /

Q: I am a remarried widow and live with my husband. I bought our home before our marriage, and only my name is on the deed and mortgage. We agreed to leave the property to my three sons from my first marriage, who would sell the property and divide the proceeds. Should all three sons be added to the deed, or just one son responsible for ...Read more

Dania Maxwell/TNS

New California home buyers could soon get government cash for down payment

Consumer / Home and Consumer News /

California could soon help first-time home buyers with their down payments and mortgage costs under a proposed $1-billion program to make homeownership more financially feasible for low- and middle-income residents.

Senate President Pro Tem Toni Atkins (D-San Diego) first introduced the idea last year of the state stepping in to help more ...Read more

United Wholesale Mortgage shares jump on record purchase volume as profit drops 47%

Consumer / Home and Consumer News /

United Wholesale Mortgage Holdings Corp. on Tuesday said net income dropped 47% year-over-year in the first three months of 2022 as interest rates increased and housing inventory remains constrained.

The Pontiac-based lender that originates mortgages only through independent brokers posted a net income of $453.3 million on $38.8 billion in loan...Read more

Dan Kitwood/Getty Images Europe/Getty Images

Bitcoin's Unraveling Tops 55% From Peak With Drop Below $30,000

Consumer / Home and Consumer News /

Bitcoin extended losses, dropping below $30,000 for the first time since July 2021, putting its decline from a November record high to more than 55% amid a global flight from riskier investments.

The world’s largest digital token fell as much as 3.1% to $29,992 in Asian trading. Ether fell as much as 3.7%, while Solana dropped 8.2% and ...Read more

Dreamstime/Minneapolis Star Tribune/TNS

For the Love of Pets: Giving back to pets and rescues

Consumer / Home and Consumer News /

Looking for ways to contribute to your favorite animal charity, beyond making a cash donation? Here are some generous alternatives to consider when you want to support a nonprofit cause you love.

Bequests for wills or trusts

Bequests are simple to implement and easy to change. You maintain the use, benefit, enjoyment, and control of your ...Read more

Dan Kitwood/Getty Images Europe/Getty Images

Bitcoin's Unraveling Tops 50% From Peak With Drop Below $32,000

Consumer / Home and Consumer News /

Bitcoin extended losses, dropping below $32,000 for the first time since July 2021, putting its decline from a November record high to more than 50% amid a global flight from riskier investments.

The world’s largest digital token fell as much as 7% on Monday and traded at around $31,924 as of 12:46 p.m in New York. Ether fell as much as 7.7%,...Read more

Alexandra Wimley/Pittsburgh Post-Gazette/TNS

Black homeownership in Pittsburgh has declined as the cost of city houses becomes less affordable

Consumer / Home and Consumer News /

It took nearly 20 years, but Rhonda Holland became a homeowner in January. She achieved the milestone after helping her daughter get through college — and then deciding once and for all that she would remain in Pittsburgh.

"I didn't feel there were any obstacles to buying a home. It was all just my motivation," said the 56-year-old Gateway ...Read more

Dreamstime/TNS

Do you have a will? Without an estate plan, families can struggle to sort it out

Consumer / Home and Consumer News /

Amid the grief of losing a loved one, families are dealt additional burdens when the person did not leave behind a will or estate plan.

Without one, it can open the door to family disputes or significant court costs to settle an estate. But only a little more than half of Americans over 55 have a will, according to a 2019 survey by Merrill ...Read more

Dreamstime/Dreamstime/TNS

Can coal investing be environmentally friendly? A contrarian take on ESG

Consumer / Home and Consumer News /

One of the biggest investment trends over the last several years has been symbolized by a ubiquitous acronym: ESG, or environmental, social and governance.

The theory behind ESG comes in two parts: first, that investors have a responsibility to use their money to push companies to be more ethical and accountable for their actions; second, that ...Read more

Dreamstime/Dreamstime/TNS

Biggest winners and losers from the Fed's interest rate hike

Consumer / Home and Consumer News /

Last week, the Federal Reserve announced that it’s raising interest rates by half a percentage point, bumping the federal funds rate to a target range of 0.75 to 1.00 percent. The move follows an increase of 0.25 percent in March, as the Fed continues reducing liquidity to the financial markets to help tamp down soaring inflation.

The central...Read more

Steve Ringman/The Seattle Times/TNS

In its campus rebuild, Microsoft hopes to ditch 'know-it-all' culture, pivot to 'learn it all'

Consumer / Home and Consumer News /

When Microsoft first started to build its Redmond, Washington campus in the 1980s, it used three things to entice workers: free soda, a lax dress code and private offices.

As it scaled up, it prioritized those offices and designed star-shaped buildings to get as many window seats as possible. Now, in the age of the open floor plan, the sodas ...Read more

Helen H. Richardson/The Denver Post/TNS

Higher mortgage rates dim the outlook for lenders focused on refinancing loans

Consumer / Home and Consumer News /

Consumers aren’t the only ones feeling the pinch from the rapid rise in interest rates this year. More mortgage firms are starting to let workers go as demand for mortgage refinancings falls off a cliff.

Employees at American Financing Corp. in Aurora experienced the harsh new reality facing the mortgage industry Monday when they were called ...Read more

TOM GRALISH/The Philadelphia Inquirer/TNS

Philadelphia neighbors who tried to fight gentrification with fecal samples win court appeal

Consumer / Home and Consumer News /

Neighbors who oppose the construction of an apartment building in West Philadelphia and had asked residents for fecal samples to try to find a link between development and colorectal cancer won their appeal Monday of the zoning board's approval of the project.

A Philadelphia Common Pleas Court judge ruled that the city's zoning board had failed...Read more

Jim Cooke/Los Angeles Times/TNS

Will that love letter help seal the deal -- or add to housing discrimination?

Consumer / Home and Consumer News /

If you’re like most people, you wouldn’t think of writing a love letter to a person you’ve never met.

For years, prospective home buyers have been doing just that, professing their adoration to property owners they do not personally know and spilling all sorts of details to win their dream home.

It’s a practice that caught on in ...Read more

Karl Mondon/Bay Area News Group/TNS

New California program could help first-time home buyers

Consumer / Home and Consumer News /

Seeking to chip away at an ambitious goal of boosting home ownership in California, the state has launched a new program of forgivable loans for first-time home buyers.

The program, Forgivable Equity Builder Loan, allows qualified, first-time buyers to borrow up to 10% of a home’s purchase price, and have the debt forgiven if the buyer lives ...Read more

Carline Jean/South Florida Sun Sentinel/TNS

Not enough houses: a look at why South Florida is suffering from a severe lack of inventory

Consumer / Home and Consumer News /

A severe shortage of housing has plagued South Florida home buyers, helping fuel the insane real estate market.

Rising demand from out-of-state buyers and local residents have only added more pressure to a market that has been severely underbuilt for years.

Why is the region behind, and is there any hope of a more balanced market? It’s ...Read more

Randall Benton/The Sacramento Bee/TNS

It could get harder to afford a house in California after interest rate hike. Here's why

Consumer / Home and Consumer News /

Think housing is already difficult to afford in California? Thanks to the Federal Reserve’s interest rate hike Wednesday, it could get even tougher.

The Fed raised a key interest rate a half-point, its biggest single increase in 22 years. That could mean mortgage rates in California could shortly climb to an average slightly above their ...Read more