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Rent Relief Spreads Across Several U.S. Cities
us-news25 days ago

Rent Relief Spreads Across Several U.S. Cities

Rents are easing in parts of the South and Mountain West, with Austin posting the largest decline and several other cities seeing 2–5% drops, while some metros like the Bay Area, Chicago, and St. Louis see gains in certain areas. Nationally, the median rent for new leases is down about 1.5% year over year but remains roughly 20% above pre‑pandemic levels at around $1,400, and Harvard notes more renters are spending over 30% of income on housing costs as homeownership remains out of reach.

via The Daily Beast|
#cost-of-living#housing#real-estate
London's Housing Crunch Pushes Adults into Shared Homes
economy1 month ago

London's Housing Crunch Pushes Adults into Shared Homes

Rising rents in London are driving more adults—often in their 30s and older—to share homes with multiple roommates; for example, a 36-year-old pays £900 for a share of a six-bedroom house, highlighting how typical rents (~£2,200/month) and incomes (£46,000/year) stretch affordability, reduce living space, and spur calls to increase housing supply and mobility.

via The New York Times|
#economy#housing#london
Mickey Rourke Faces Eviction Over Unapproved GoFundMe Campaign
entertainment1 month ago

Mickey Rourke Faces Eviction Over Unapproved GoFundMe Campaign

A Los Angeles court granted a default eviction against actor Mickey Rourke after he fell behind on roughly $59,100 in back rent for a three-bedroom home. A GoFundMe drive to raise $100,000 to cover back rent was organized by his manager without Rourke’s authorization, and he publicly denounced the effort as embarrassing and said he wouldn’t seek charity.

via NBC News|
#entertainment#eviction#gofundme
Bilt adds tiered earning on housing payments, boosting points to 1.25x
guides2 months ago

Bilt adds tiered earning on housing payments, boosting points to 1.25x

Bilt is launching a tiered earning option in its 2.0 system that lets you earn up to 1.25 points per dollar on rent or mortgage payments, based on how much of your housing payment you put toward everyday purchases. When you select tiers, you won’t earn the Bilt Cash on everyday purchases for that month; you can switch monthly to the original 4% Bilt Cash structure if you prefer — the change takes effect the following month. The update applies to the three new Bilt cards (Blue, Obsidian, Palladium) and complements existing redemption options, adding flexibility for housing-related rewards.

via The Points Guy|
#bilt#guides#mortgage
"Brooklyn Couple's $1,600 1-Bedroom Apartment with 150 Houseplants: A Peek Inside"
lifestyle2 years ago

"Brooklyn Couple's $1,600 1-Bedroom Apartment with 150 Houseplants: A Peek Inside"

Vionna Wai and her husband pay $1,600 a month for a one-bedroom apartment in Brooklyn, where they live with 150 houseplants and two cats. Wai, a construction engineer, finds taking care of her plants to be a form of self-care, spending about 30 minutes a week on maintenance. The couple has a designated "cat jungle corner" for their pet-friendly plants and hopes to one day have a greenhouse in the countryside.

via CNBC|
#brooklyn#cats#houseplants
"Americans Making Sacrifices to Afford Housing Under Biden: Study"
economy2 years ago

"Americans Making Sacrifices to Afford Housing Under Biden: Study"

A survey by Redfin revealed that under President Joe Biden, nearly one in five homeowners and renters are skipping meals to afford housing, with many making sacrifices such as working more hours, selling belongings, dipping into retirement savings, and delaying medical care. The median asking rental price has increased significantly since Biden took office, and the median household income falls short of what is needed to afford the median home in the United States. The Biden administration's efforts to increase housing supply and reduce rent burden face challenges such as high interest rates, a shortage of construction workers, and concerns about inflation. Disapproval of Biden's handling of the economy is high, with many Americans recalling a better economy under former President Donald Trump.

via Daily Caller|
#biden#economy#housing
MyPillow Evicted from Warehouse Over Unpaid Rent
business2 years ago

MyPillow Evicted from Warehouse Over Unpaid Rent

MyPillow, founded by Mike Lindell, has been evicted from a Minnesota warehouse for failing to pay rent, with the company facing financial struggles following the CEO's involvement in election fraud claims. Lindell, who has spent millions on efforts to prove election fraud, revealed that his company has been "decimated" by lawsuits, losing hundreds of millions of dollars and facing credit line reductions. The eviction comes as a blow to the once-thriving venture, which has seen its products pulled from shelves and suffered from lost sales, with Lindell claiming to have just $10,000 to his name.

via New York Post |
#business#eviction#lawsuits
MyPillow Evicted from Minnesota Warehouse Over Unpaid Rent
business2 years ago

MyPillow Evicted from Minnesota Warehouse Over Unpaid Rent

MyPillow, owned by Mike Lindell, has been evicted from its warehouse in Shakopee, Minnesota, after a lawsuit claimed the company was over $200,000 behind on rent payments. The landlord, First Industrial, LP, alleged that MyPillow had defaulted on rent for several months and was owed over $200,000. Lindell, who faces financial challenges and legal battles, including a $1.3 billion defamation lawsuit from Dominion Voting Systems, has admitted to being out of money and facing significant losses due to his election fraud claims.

via CBS Minnesota|
#business#eviction#financial-problems
"Ranchers Face Backlash for Charging Daughter Rent"
family-and-parenting2 years ago

"Ranchers Face Backlash for Charging Daughter Rent"

Ranchers Erika and Cody Archie faced backlash for charging their 19-year-old daughter $200 a month in rent after her high school graduation, aiming to teach her financial responsibility. Despite criticism, they believe in instilling good money skills and independence in their children, emphasizing that "nothing in life is free." The couple's approach reflects their belief that children should learn the value of money and not rely on their parents for financial support indefinitely.

via Fox Business|
#family-and-parenting#financial-independence#parenting
"February CPI Report: Inflation Continues to Rise"
economics2 years ago

"February CPI Report: Inflation Continues to Rise"

The latest Consumer Price Index report shows a 3.2% increase in overall prices from a year earlier, with core inflation at 3.8%. While inflation has slowed from its peak, it remains volatile, driven by rising fuel costs, rent, and service prices. The Federal Reserve is considering rate cuts but will wait for sustained evidence of inflation moving toward its 2% target. Gasoline prices are climbing due to rising demand and production shifts, while grocery prices remain unchanged. Rent continues to be a major contributor to inflation, and while some service costs are rising, goods prices are softening in some areas.

via USA TODAY|
#consumer-price-index#economics#federal-reserve
"Unraveling the Rent Conundrum: Impact on Interest Rates and Inflation"
financeeconomics2 years ago

"Unraveling the Rent Conundrum: Impact on Interest Rates and Inflation"

Despite earlier forecasts of interest rate cuts in 2024, soaring rent costs may force the Federal Reserve to keep rates higher for longer than expected. Shelter costs, including rent, have seen a significant increase, impacting overall inflation and potentially influencing the Fed's decision on rate cuts. While some experts believe other factors like labor market weakness will play a role, the impact of rent on inflation cannot be ignored. With concerns about rates not being cut and the possibility of rate hikes, the influence of rent costs on the Fed's decisions in 2024 is becoming increasingly significant.

via Business Insider|
#economy#federal-reserve#financeeconomics