[{"_rev":"Aqim3oyLTrhUJY7g8lgc05","_id":"3309e0a4-e174-4e1f-8ecf-a9ca5a1fbf4f","body":[{"markDefs":[{"_type":"link","href":"https://finance.yahoo.com/news/6-ways-second-trump-presidency-215200746.html","_key":"248436d649e2"}],"children":[{"_type":"span","marks":[],"text":"Wall Street reacted positively to Tuesday’s election results, but","_key":"8c172f3a39210"},{"_key":"0a3f827c63c1","_type":"span","marks":["strong"],"text":" the long-term economic impact"},{"_type":"span","marks":[],"text":" of President-elect Donald Trump’s second term remains to be seen. Homebuyers and sellers, for example, could ","_key":"72d4a44d407b"},{"marks":["248436d649e2"],"text":"encounter","_key":"8c172f3a39211","_type":"span"},{"_key":"8c172f3a39212","_type":"span","marks":[],"text":" a significantly different market — for better or worse — under a new Trump administration."}],"_type":"block","style":"normal","_key":"10975f42e2d0"},{"style":"normal","_key":"5e624d443d54","markDefs":[],"children":[{"_type":"span","marks":["strong"],"text":"Some things change","_key":"c6ade490f22e0"}],"_type":"block"},{"children":[{"text":"Analysts have interpreted Trump’s campaign platform in various ways, but there are a few relevant aspects that could have a direct impact on the housing market, including:","_key":"db74db0396970","_type":"span","marks":[]}],"_type":"block","style":"normal","_key":"a0318589da28","markDefs":[]},{"markDefs":[],"children":[{"_type":"span","marks":["strong"],"text":"Mortgage rates","_key":"8eb74266e2370"},{"_key":"016d7e4d3aca","_type":"span","marks":[],"text":": Since investors are generally predicting an economic boom in response to Trump’s election, there’s the associated possibility that inflation will remain a factor for some time to come. In response to such a scenario, the 10-year Treasury bond (and in turn mortgage rates) could remain high or even increase."}],"level":1,"_type":"block","style":"normal","_key":"605dbeb5dab7","listItem":"bullet"},{"_key":"823fdd4d71d8","listItem":"bullet","markDefs":[],"children":[{"_key":"c4e212a6be0c0","_type":"span","marks":["strong"],"text":"Home prices"},{"_type":"span","marks":[],"text":": If Trump implements a large-scale policy of imposing tariffs on imported goods, the result could be an increase in the cost of materials used to build houses. A stricter immigration policy might also result in higher labor costs. If so, the end result could be more expensive real estate.","_key":"27f3ee76de8f"}],"level":1,"_type":"block","style":"normal"},{"listItem":"bullet","markDefs":[],"children":[{"_type":"span","marks":["strong"],"text":"Tax incentives","_key":"759f7e7678360"},{"_type":"span","marks":[],"text":": Some price increases associated with Trump policies might be offset by efforts to boost new home construction — and affordable housing in particular — by providing home builders with an attractive tax deal. Decreased regulations could also spur additional construction.","_key":"604baf3aee1b"}],"level":1,"_type":"block","style":"normal","_key":"112a64cd6b5a"},{"markDefs":[],"children":[{"_type":"span","marks":["strong"],"text":"Some things stay the same","_key":"f2761d4070a60"}],"_type":"block","style":"normal","_key":"4c25f072118b"},{"_type":"block","style":"normal","_key":"6447128d236d","markDefs":[],"children":[{"_type":"span","marks":[],"text":"As with any new administration, particularly one from a different party than the outgoing president,","_key":"521ecf493d050"},{"_type":"span","marks":["strong"],"text":" there will be some policy shake-ups","_key":"1c5f7ed35d3e"},{"_type":"span","marks":[],"text":". But when it’s all said and done, there are limits to the amount of influence any president has over the real estate industry.","_key":"4bfbb5be3e8f"}]},{"children":[{"_key":"6994e1354b460","_type":"span","marks":[],"text":"Trump’s critics are concerned he’ll make things worse and his supporters hope he’ll fix many of the market’s problems. The truth, however, is that things might not end up changing all that much at all."}],"_type":"block","style":"normal","_key":"052d4791272d","markDefs":[]}],"title":"A Second Trump Administration Could Reshape America’s Real Estate Market","visibility":"true","category":"economy","_updatedAt":"2024-11-07T20:41:39Z","author":{"_ref":"phCNL32Gn","_type":"reference"},"summary":"What might the next four years look like for home buyers and sellers?","slug":"/story/2024/11/a-second-trump-administration-could-reshape-americas-real-estate-market","_createdAt":"2024-11-07T20:41:39Z","_type":"story","publishDate":"2024-11-08","id":"n6nFPJVB","image":{"attribution":"Giphy","asset":{"uploadId":"oisglN93lULyZ6EZghNcUMWPcDXc85Xm","source":{"name":"Real Estate Realtor GIF by South Park","id":"aZcwYGaPOGJsLeLFfC","url":"https://giphy.com/gifs/southpark-south-park-s25e3-aZcwYGaPOGJsLeLFfC"},"path":"images/8mioycse/v3/149c975c1daf5c5c0405261edb6b41e0119b7706-480x268.gif","extension":"gif","_rev":"zD4uFjzDnTAyZ7j3DKvT4W","mimeType":"image/gif","url":"https://cdn.sanity.io/images/8mioycse/v3/149c975c1daf5c5c0405261edb6b41e0119b7706-480x268.gif","_updatedAt":"2024-11-07T20:40:28Z","metadata":{"blurHash":"M7JP}g~EUdH[YN*v=1=h~C~B00rw%|-Xr2","_type":"sanity.imageMetadata","palette":{"lightVibrant":{"background":"#cc749c","_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff","population":24.85},"darkVibrant":{"title":"#fff","population":0.1,"background":"#663330","_type":"sanity.imagePaletteSwatch","foreground":"#fff"},"lightMuted":{"_type":"sanity.imagePaletteSwatch","foreground":"#000","title":"#fff","population":0.18,"background":"#c08496"},"vibrant":{"background":"#b1843d","_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff","population":14.49},"dominant":{"background":"#cc749c","_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff","population":24.85},"_type":"sanity.imagePalette","darkMuted":{"background":"#604542","_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff","population":22.32},"muted":{"background":"#a85c80","_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff","population":0.01}},"hasAlpha":true,"lqip":"data:image/jpeg;base64,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","dimensions":{"_type":"sanity.imageDimensions","width":480,"aspectRatio":1.791044776119403,"height":268},"isOpaque":true},"size":667071,"_createdAt":"2024-11-07T20:40:28Z","originalFilename":"21c56f8f-0cdd-47f8-b02e-18f16eafc6a0.gif","_type":"sanity.imageAsset","sha1hash":"149c975c1daf5c5c0405261edb6b41e0119b7706","assetId":"149c975c1daf5c5c0405261edb6b41e0119b7706","_id":"image-149c975c1daf5c5c0405261edb6b41e0119b7706-480x268-gif"},"crop":{"_type":"sanity.imageCrop","right":0,"top":0,"left":0,"bottom":0},"hotspot":{"y":0.5,"height":1,"_type":"sanity.imageHotspot","width":0.8904109589041094,"x":0.5},"_type":"image"}},{"_type":"story","summary":"The minimum investment might not be as big as you'd expect.","_updatedAt":"2024-11-06T21:27:45Z","id":"mIjBVxjU","slug":"/story/2024/11/could-you-be-earning-passive-rental-property-income-without-becoming-a-landlord","image":{"_type":"image","attribution":"Giphy","asset":{"sha1hash":"22b8df3a496271c88af8e4705bbde33da44865eb","originalFilename":"c77cfd96-55f1-4647-b8d2-c3c55141e5f0.gif","_createdAt":"2024-06-30T20:26:09Z","_updatedAt":"2024-06-30T20:26:09Z","metadata":{"palette":{"lightMuted":{"title":"#fff","population":6.08,"background":"#aac8d5","_type":"sanity.imagePaletteSwatch","foreground":"#000"},"vibrant":{"_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff","population":1.7,"background":"#e7772e"},"dominant":{"population":7.82,"background":"#6c763d","_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff"},"_type":"sanity.imagePalette","darkMuted":{"foreground":"#fff","title":"#fff","population":7.82,"background":"#6c763d","_type":"sanity.imagePaletteSwatch"},"muted":{"foreground":"#fff","title":"#fff","population":7.36,"background":"#7a8962","_type":"sanity.imagePaletteSwatch"},"lightVibrant":{"foreground":"#000","title":"#fff","population":2.52,"background":"#e1a47d","_type":"sanity.imagePaletteSwatch"},"darkVibrant":{"foreground":"#fff","title":"#fff","population":0.01,"background":"#3c6c10","_type":"sanity.imagePaletteSwatch"}},"hasAlpha":true,"lqip":"data:image/jpeg;base64,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","dimensions":{"_type":"sanity.imageDimensions","width":500,"aspectRatio":2,"height":250},"isOpaque":true,"blurHash":"MEHog=e-yGp056QpxuMvR%MzT|jYMxV@%2","_type":"sanity.imageMetadata"},"mimeType":"image/gif","path":"images/8mioycse/v3/22b8df3a496271c88af8e4705bbde33da44865eb-500x250.gif","url":"https://cdn.sanity.io/images/8mioycse/v3/22b8df3a496271c88af8e4705bbde33da44865eb-500x250.gif","size":408085,"assetId":"22b8df3a496271c88af8e4705bbde33da44865eb","_id":"image-22b8df3a496271c88af8e4705bbde33da44865eb-500x250-gif","extension":"gif","uploadId":"0QJwz7YvqD7V82MB5lGRrLG92EJKrtXS","_rev":"UbaWB606a3qLMH45vP5o4R","_type":"sanity.imageAsset","source":{"name":"myth GIF","id":"OSAAoiztopfc4","url":"https://giphy.com/gifs/myth-OSAAoiztopfc4"}},"crop":{"top":0,"left":0,"bottom":0,"_type":"sanity.imageCrop","right":0},"hotspot":{"x":0.5,"y":0.5,"height":1,"_type":"sanity.imageHotspot","width":0.941780821917808}},"body":[{"style":"normal","_key":"e7d6d0eea9a1","markDefs":[],"children":[{"_key":"cf67673687330","_type":"span","marks":[],"text":"Buying up residences and renting them out for profit can be a lucrative business plan, as evidenced by America’s continually rising rental prices."}],"_type":"block"},{"_type":"block","style":"normal","_key":"684a0192c989","markDefs":[{"_type":"link","href":"https://finance.yahoo.com/news/heres-many-earning-1-000-142118369.html","_key":"a3636f62272f"}],"children":[{"_type":"span","marks":[],"text":"But there are some ","_key":"f989106c58a40"},{"_type":"span","marks":["a3636f62272f"],"text":"aspects","_key":"f989106c58a41"},{"_type":"span","marks":[],"text":" of becoming a landlord that immediately","_key":"f989106c58a42"},{"_type":"span","marks":["strong"],"text":" turn off many prospective investors","_key":"e20486f52508"},{"_type":"span","marks":[],"text":". Two increasingly popular options, on the other hand, promise the upside of rental income without the downsides associated with being a landlord. Let’s explore them both:","_key":"da36f29e5a4b"}]},{"_key":"eea3edba159d","listItem":"bullet","markDefs":[],"children":[{"marks":["strong"],"text":"Real Estate Investment Trusts","_key":"c190dd4863480","_type":"span"},{"_type":"span","marks":[],"text":": This option is popular among investors who aren’t interested in the day-to-day maintenance of rental property. A leading REIT, The Monthly Dividend Company, has been offering services for more than half a century and boasts a staggering ","_key":"cec2288e7724"},{"_type":"span","marks":["strong"],"text":"652 monthly dividends in a row","_key":"a59c80a8624f"},{"_type":"span","marks":[],"text":". In fact, the rules associated with forming such a trust require that it return 90% or more of all taxable income in the form of dividends paid out to investors. With a dividend yield at or around 5.37% these days, the typical monthly payment is just over a quarter per share. Before investing, however, it’s important to remember that those dividends are not guaranteed and prices can go up or down sharply without notice.","_key":"c11023fe0208"}],"level":1,"_type":"block","style":"normal"},{"style":"normal","_key":"71b6cfa1a68c","listItem":"bullet","markDefs":[],"children":[{"_type":"span","marks":["strong"],"text":"Fractional investments","_key":"3cd7a708a33c0"},{"_type":"span","marks":[],"text":": Amazon founder Jeff Bezos has been a driving force behind this alternative, which essentially allows investors to purchase shares in rental properties. It’s possible to get started with ","_key":"38cd7e41dffd"},{"text":"an investment of as little as $100","_key":"a37e2c45434f","_type":"span","marks":["strong"]},{"_type":"span","marks":[],"text":", so it appeals to many people who might want to test the waters before making a major commitment. The Bezos-backed company Arrived Homes even offers investors access to a Private Credit Fund, which provides monthly payments and returns with an annual target yield of 7-9%.","_key":"487f93bb97b0"}],"level":1,"_type":"block"},{"markDefs":[],"children":[{"_type":"span","marks":[],"text":"Making big money in the rental market means making big investments, but these two options might help","_key":"458d341e82200"},{"_type":"span","marks":["strong"],"text":" level the playing field ","_key":"71982bf27136"},{"_type":"span","marks":[],"text":"in an industry that has become dominated by huge corporations.","_key":"39a44bac22c3"}],"_type":"block","style":"normal","_key":"fb0b69ec7f06"}],"title":"Could You Be Earning Passive Rental Property Income Without Becoming A Landlord?","category":"economy","author":{"_ref":"phCNL32Gn","_type":"reference"},"_rev":"5oa0sOPQSbRmghhJoMdW39","_id":"a3e67477-bd63-4cff-8d53-1aef0b99ca66","visibility":"true","publishDate":"2024-11-07","_createdAt":"2024-11-06T21:27:45Z"},{"image":{"hotspot":{"width":0.9925650557620818,"x":0.5,"y":0.5171554454082337,"height":0.9656891091835328,"_type":"sanity.imageHotspot"},"_type":"image","attribution":"Giphy","asset":{"assetId":"82c10be6e36e88691a1bf48acb69feb26f7390e5","_id":"image-82c10be6e36e88691a1bf48acb69feb26f7390e5-356x270-gif","_rev":"5ip7S1egSoQUEZDaHeu7U3","_type":"sanity.imageAsset","mimeType":"image/gif","sha1hash":"82c10be6e36e88691a1bf48acb69feb26f7390e5","size":2165559,"extension":"gif","source":{"url":"https://giphy.com/gifs/love-gold-iphone-XlvbF51R0T9uM","name":"Austin Powers Love GIF","id":"XlvbF51R0T9uM"},"url":"https://cdn.sanity.io/images/8mioycse/v3/82c10be6e36e88691a1bf48acb69feb26f7390e5-356x270.gif","_updatedAt":"2024-10-27T17:49:28Z","metadata":{"_type":"sanity.imageMetadata","palette":{"_type":"sanity.imagePalette","darkMuted":{"background":"#83693e","_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff","population":5.22},"muted":{"_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff","population":2.07,"background":"#957e56"},"lightVibrant":{"_type":"sanity.imagePaletteSwatch","foreground":"#000","title":"#000","population":5.13,"background":"#efdb60"},"darkVibrant":{"foreground":"#fff","title":"#fff","population":0.09,"background":"#7f7c07","_type":"sanity.imagePaletteSwatch"},"lightMuted":{"population":0,"background":"#8b790d","_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff"},"vibrant":{"foreground":"#fff","title":"#fff","population":0.01,"background":"#c78515","_type":"sanity.imagePaletteSwatch"},"dominant":{"foreground":"#fff","title":"#fff","population":5.22,"background":"#83693e","_type":"sanity.imagePaletteSwatch"}},"hasAlpha":true,"lqip":"data:image/jpeg;base64,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","dimensions":{"_type":"sanity.imageDimensions","width":356,"aspectRatio":1.3185185185185184,"height":270},"isOpaque":true,"blurHash":"VFGtfgX7?D~9-n=cSz-m=_s.9vV]M~M}RkIqs.afIqaf"},"uploadId":"XsQ6soBaWOdFEWVmHvDxO6XF499XG2LY","originalFilename":"078c5631-5535-4cdd-95a5-74cb8c5435e8.gif","path":"images/8mioycse/v3/82c10be6e36e88691a1bf48acb69feb26f7390e5-356x270.gif","_createdAt":"2024-10-27T17:49:28Z"},"crop":{"top":0,"left":0,"bottom":0,"_type":"sanity.imageCrop","right":0}},"author":{"_ref":"phCNL32Gn","_type":"reference"},"publishDate":"2024-10-28","category":"economy","_rev":"5ip7S1egSoQUEZDaHeu8rk","body":[{"children":[{"_type":"span","marks":[],"text":"Perhaps you’ve seen some of the articles about Costco’s foray into gold sales, a move that prompted members to","_key":"3a4c19baa6750"},{"marks":["strong"],"text":" scoop up the shiny metal ","_key":"6f632ffe1f0c","_type":"span"},{"_type":"span","marks":[],"text":"almost as fast as it arrived. But the truth is that gold continues to be in demand no matter who’s selling it — ","_key":"b85ef112d4da"},{"_type":"span","marks":["2ea41c4a8d0b"],"text":"despite","_key":"3a4c19baa6751"},{"_type":"span","marks":[],"text":" the fact that its price has been breaking all-time highs left and right lately.","_key":"3a4c19baa6752"}],"_type":"block","style":"normal","_key":"91ef788b7e78","markDefs":[{"_type":"link","href":"https://finance.yahoo.com/news/gold-became-one-worlds-hottest-201501414.html","_key":"2ea41c4a8d0b"}]},{"_type":"block","style":"normal","_key":"fae0bc1c94ff","markDefs":[],"children":[{"_key":"0513f0f88af90","_type":"span","marks":["strong"],"text":"Exploring the causes"}]},{"style":"normal","_key":"87ebdf1577c5","markDefs":[],"children":[{"_type":"span","marks":[],"text":"So what’s behind this rush to collect gold? Monetary and geopolitical experts say it comes down to a few major factors.","_key":"4cbcbdc43d450"}],"_type":"block"},{"_type":"block","style":"normal","_key":"9f832ec16d98","listItem":"bullet","markDefs":[],"children":[{"_type":"span","marks":["strong"],"text":"Central banks","_key":"433c3ed0980d0"},{"text":": A growing number of nations are shifting away from their reliance on the U.S. dollar as a reserve currency, and central bankers have been stockpiling gold as a foundation for their goal.","_key":"94f72992b3b0","_type":"span","marks":[]}],"level":1},{"level":1,"_type":"block","style":"normal","_key":"f5206ed68038","listItem":"bullet","markDefs":[],"children":[{"marks":["strong"],"text":"World affairs","_key":"b7b73ba401240","_type":"span"},{"_type":"span","marks":[],"text":": With much of the globe in a precarious state, investors see precious metals as a safe haven for their money regardless of the tensions impacting regions including Ukraine and the Middle East.","_key":"759133bf86c4"}]},{"style":"normal","_key":"e80e487bba81","listItem":"bullet","markDefs":[],"children":[{"_type":"span","marks":["strong"],"text":"Interest rates","_key":"7b7cf64e012b0"},{"_type":"span","marks":[],"text":": As historically high rates are expected to begin trending downward soon, gold prices are poised to benefit, making it an even more attractive investment.","_key":"3c2c89f02ec5"}],"level":1,"_type":"block"},{"listItem":"bullet","markDefs":[],"children":[{"_type":"span","marks":["strong"],"text":"Political impact","_key":"40268e11e0430"},{"_key":"a398e3079546","_type":"span","marks":[],"text":": Voters are already casting their ballots for the next U.S. president. Regardless of whether Kamala Harris or Donald Trump win, analysts say increased deficits are likely and would only boost gold’s value further."}],"level":1,"_type":"block","style":"normal","_key":"e1e6f6ca2d39"},{"markDefs":[],"children":[{"text":"Predicting the future","_key":"f92489310b560","_type":"span","marks":["strong"]}],"_type":"block","style":"normal","_key":"a3f670728f04"},{"children":[{"_type":"span","marks":[],"text":"Over time, gold has always increased in value. This year alone, it has","_key":"1cd122ee68010"},{"_type":"span","marks":["strong"],"text":" added about 33% to its value","_key":"79b0458b8fd5"},{"_type":"span","marks":[],"text":" to reach a recent high of $2,772 per ounce.","_key":"e93c17dd4492"}],"_type":"block","style":"normal","_key":"66df323e6ab7","markDefs":[]},{"style":"normal","_key":"c34f30f1f8c7","markDefs":[],"children":[{"text":"But with so much uncertainty in the world, it might be hard to determine if investing in gold is the right move for your financial future.","_key":"a0ceff2d8e820","_type":"span","marks":[]}],"_type":"block"},{"markDefs":[],"children":[{"_type":"span","marks":[],"text":"As Bank of America advised last month: “Gold looks to be","_key":"6815dfa1437a0"},{"_key":"451c7acd3187","_type":"span","marks":["strong"],"text":" the last ‘safe haven’ asset standing"},{"_type":"span","marks":[],"text":", incentivising traders including central banks to increase exposure.”","_key":"70823c4e96e9"}],"_type":"block","style":"normal","_key":"b0e61ece9791"}],"slug":"/story/2024/10/heres-why-everybody-seems-to-be-buying-gold-bars-these-days","_id":"e1665363-452f-45fd-a760-58c48efdfcd6","_updatedAt":"2024-10-27T17:50:36Z","visibility":"true","id":"Trfx3YsL","title":"Here’s Why Everybody Seems To Be Buying Gold Bars These Days","_type":"story","_createdAt":"2024-10-27T17:50:36Z","summary":"Is it the perfect investment for uncertain times like these?"},{"slug":"/story/2024/09/charting-the-cybertrucks-unlikely-path-to-market-dominance","summary":"People have strong opinions about its design, but the numbers speak for themselves.","body":[{"_key":"a058ab65bb3a","markDefs":[{"href":"https://www.theverge.com/2024/9/18/24247985/tesla-cybertruck-july-2024-sales-deliveries-match-all-ev-trucks","_key":"c341009b8c30","_type":"link"}],"children":[{"text":"It took a while for the public to get used to seeing them on the street, but the divisive Tesla Cybertruck is now ","_key":"4d45a23ffc3e0","_type":"span","marks":[]},{"_key":"4d45a23ffc3e1","_type":"span","marks":["c341009b8c30"],"text":"officially"},{"text":" at the top of the EV truck heap.","_key":"4d45a23ffc3e2","_type":"span","marks":[]}],"_type":"block","style":"normal"},{"style":"normal","_key":"803f512065e3","markDefs":[],"children":[{"_type":"span","marks":["strong"],"text":"A rocky start","_key":"d194814c09af0"}],"_type":"block"},{"markDefs":[],"children":[{"_type":"span","marks":[],"text":"The Cybertuck was announced years ago to significant fanfare, but production delays, price increases, and reliability concerns","_key":"92d41a440aa10"},{"_type":"span","marks":["strong"],"text":" dampened the impact","_key":"d3b45bd73df1"},{"_type":"span","marks":[],"text":" of its eventual release. And that doesn’t even factor in the way it looks.","_key":"c1d4f3275d47"}],"_type":"block","style":"normal","_key":"8ab58379ef14"},{"_key":"a989d63a1562","markDefs":[],"children":[{"_key":"14369bbd961e0","_type":"span","marks":[],"text":"But the undeniable novelty factor surrounding the Cybertruck when it first launched has been replaced by evidence of fairly widespread appeal. In this increasingly competitive automotive sector, Tesla not only led the pack but sold nearly as many Cybertrucks in July as"},{"marks":["strong"],"text":" all the other EV trucks","_key":"3aa9d50aa891","_type":"span"},{"_type":"span","marks":[],"text":" from other automakers combined.","_key":"92ac86ac6d05"}],"_type":"block","style":"normal"},{"_type":"block","style":"normal","_key":"b9e73b70b1f4","markDefs":[],"children":[{"text":"Based on vehicle registration information, Tesla sold 5,175 Cybertrucks that month. That’s just a few hundred shy of the total of all the other EV trucks sold that month.","_key":"b8feb16f7f650","_type":"span","marks":[]}]},{"_type":"block","style":"normal","_key":"084c40147511","markDefs":[],"children":[{"_type":"span","marks":["strong"],"text":"Increased competition","_key":"cb521560924c0"}]},{"markDefs":[],"children":[{"marks":[],"text":"Just within the electric truck segment, the Cybertruck has ","_key":"94fe365cb6960","_type":"span"},{"_type":"span","marks":["strong"],"text":"four direct competitors","_key":"abb3d6ff9e17"},{"_type":"span","marks":[],"text":":","_key":"b449bc934e79"}],"_type":"block","style":"normal","_key":"ec0b69c62591"},{"style":"normal","_key":"278b4121576d","listItem":"bullet","markDefs":[],"children":[{"_type":"span","marks":[],"text":"Ford F-150 Lighting","_key":"b3a3cc1ba2630"}],"level":1,"_type":"block"},{"_type":"block","style":"normal","_key":"85fec6210071","listItem":"bullet","markDefs":[],"children":[{"_key":"24edf3f31ffb0","_type":"span","marks":[],"text":"Rivian R1T"}],"level":1},{"children":[{"marks":[],"text":"Chevrolet Silverado EV","_key":"d75532f3f2b50","_type":"span"}],"level":1,"_type":"block","style":"normal","_key":"3bc21e588958","listItem":"bullet","markDefs":[]},{"level":1,"_type":"block","style":"normal","_key":"46c573aa9ad9","listItem":"bullet","markDefs":[],"children":[{"_type":"span","marks":[],"text":"Hummer EV","_key":"88e43aff08a00"}]},{"_type":"block","style":"normal","_key":"17601605210d","markDefs":[],"children":[{"text":"And Tesla, which was clearly at the forefront of the EV revolution, is now facing serious threats from other companies. But it seems to be ","_key":"e028738000f60","_type":"span","marks":[]},{"_type":"span","marks":["strong"],"text":"maintaining its spot","_key":"22660acea984"},{"_type":"span","marks":[],"text":" at the front of the pack.","_key":"b915230b874f"}]},{"_type":"block","style":"normal","_key":"2e793f653eb5","markDefs":[],"children":[{"text":"Although the company’s 48% share of EV registrations in July was slightly lower than where it was the same month last year, it’s still a strong showing given how many new models have been introduced lately.","_key":"c940cb3ddaa80","_type":"span","marks":[]}]},{"children":[{"_type":"span","marks":[],"text":"The somewhat surprising mainstream success of the Cybertruck appears to be ","_key":"35e7c03380830"},{"_type":"span","marks":["strong"],"text":"positive news for Tesla","_key":"48d43aecf3eb"},{"_type":"span","marks":[],"text":" … unless it’s too much of a good thing. The company says it currently has a backlog of about 2 million pre-orders.","_key":"43d83c387a52"}],"_type":"block","style":"normal","_key":"c28b95a9d0df","markDefs":[]},{"_key":"90c03e368960","markDefs":[],"children":[{"_type":"span","marks":[],"text":"We’ll know more about Tesla’s trends when its third-quarter deliveries report drops next month.","_key":"32457288e44b0"}],"_type":"block","style":"normal"}],"_id":"c984bfab-4feb-4d78-90b2-c3980c1613cd","category":"economy","visibility":"true","_createdAt":"2024-09-18T20:32:02Z","id":"eX7mVzPJ","_rev":"KRL8xHMQVCjHlmhLWOvs91","_type":"story","image":{"_type":"image","attribution":"Giphy","asset":{"originalFilename":"7376a7e4-4b8f-40ee-bdc5-ce21a598e78f.gif","uploadId":"Lt1LpAKOdNaIx2spv6lDqrnQyEnL9acV","sha1hash":"582dbade88b7677937b8f9ab35f34b683c4b3544","path":"images/8mioycse/v3/582dbade88b7677937b8f9ab35f34b683c4b3544-480x270.gif","mimeType":"image/gif","source":{"id":"l9yH6EC0YkgUx6fNwz","url":"https://giphy.com/gifs/carwowuk-drift-drifting-mat-watson-l9yH6EC0YkgUx6fNwz","name":"Drifting Elon Musk GIF by Carwow"},"assetId":"582dbade88b7677937b8f9ab35f34b683c4b3544","url":"https://cdn.sanity.io/images/8mioycse/v3/582dbade88b7677937b8f9ab35f34b683c4b3544-480x270.gif","size":2140557,"_createdAt":"2024-08-12T20:17:25Z","_id":"image-582dbade88b7677937b8f9ab35f34b683c4b3544-480x270-gif","metadata":{"_type":"sanity.imageMetadata","palette":{"muted":{"foreground":"#fff","title":"#fff","population":5.88,"background":"#a18267","_type":"sanity.imagePaletteSwatch"},"lightVibrant":{"_type":"sanity.imagePaletteSwatch","foreground":"#000","title":"#000","population":6.45,"background":"#ddc6a6"},"darkVibrant":{"title":"#fff","population":0,"background":"#5b3b29","_type":"sanity.imagePaletteSwatch","foreground":"#fff"},"lightMuted":{"background":"#c3a98c","_type":"sanity.imagePaletteSwatch","foreground":"#000","title":"#fff","population":6.58},"vibrant":{"population":0,"background":"#744c34","_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff"},"dominant":{"population":7.35,"background":"#403e41","_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff"},"_type":"sanity.imagePalette","darkMuted":{"population":7.35,"background":"#403e41","_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff"}},"hasAlpha":true,"lqip":"data:image/jpeg;base64,/9j/2wBDAAYEBQYFBAYGBQYHBwYIChAKCgkJChQODwwQFxQYGBcUFhYaHSUfGhsjHBYWICwgIyYnKSopGR8tMC0oMCUoKSj/2wBDAQcHBwoIChMKChMoGhYaKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCj/wAARCAALABQDASIAAhEBAxEB/8QAFwAAAwEAAAAAAAAAAAAAAAAAAAUGA//EACEQAAEEAgICAwAAAAAAAAAAAAIBAwQRAAUSEyFBMlFx/8QAFQEBAQAAAAAAAAAAAAAAAAAAAAT/xAAZEQACAwEAAAAAAAAAAAAAAAAAFAECA0H/2gAMAwEAAhEDEQA/AG2yHYuSn2QU2I7Q32tpd5P6/YTX5ptNyJnESpD4WhZSMuGpGKkXGl8XmmqNWlNQpF/Mkb0npUrSBnBguuxgN6UAmvokpcMVS5T3d8/X0mGGtI6FqH//2Q==","dimensions":{"_type":"sanity.imageDimensions","width":480,"aspectRatio":1.7777777777777777,"height":270},"isOpaque":true,"blurHash":"MII59~Rk?bS5Rn2|o#R-fktR.9adMxxaRP"},"_rev":"sZQWAn2H1gaiaYQsDGWkNl","_type":"sanity.imageAsset","extension":"gif","_updatedAt":"2024-08-12T20:17:25Z"}},"author":{"_ref":"phCNL32Gn","_type":"reference"},"_updatedAt":"2024-09-18T20:32:02Z","publishDate":"2024-09-19","title":"Charting The Cybertruck’s Unlikely Path To Market Dominance"},{"publishDate":"2024-09-14","id":"oFVpQJE5","visibility":"true","category":"economy","_createdAt":"2024-09-13T21:28:21Z","image":{"_type":"image","attribution":"Giphy","asset":{"url":"https://cdn.sanity.io/images/8mioycse/v3/dc33abf2b73900c23f9ecfcef7180af7cb7b5b82-480x270.gif","originalFilename":"2c832110-984b-4ed5-89e9-204b7e3f0c67.gif","mimeType":"image/gif","_type":"sanity.imageAsset","source":{"name":"Old Lady Dancing GIF by Mattiel","id":"RMk32NEpSgcIoljwwz","url":"https://giphy.com/gifs/mattiel-food-for-thought-RMk32NEpSgcIoljwwz"},"path":"images/8mioycse/v3/dc33abf2b73900c23f9ecfcef7180af7cb7b5b82-480x270.gif","_createdAt":"2024-09-13T21:27:06Z","extension":"gif","_rev":"hTmlDoHOHlWutOGYCwuRJx","sha1hash":"dc33abf2b73900c23f9ecfcef7180af7cb7b5b82","size":1521349,"assetId":"dc33abf2b73900c23f9ecfcef7180af7cb7b5b82","_id":"image-dc33abf2b73900c23f9ecfcef7180af7cb7b5b82-480x270-gif","metadata":{"_type":"sanity.imageMetadata","palette":{"vibrant":{"background":"#6f5635","_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff","population":4.62},"dominant":{"background":"#6f5635","_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff","population":4.62},"_type":"sanity.imagePalette","darkMuted":{"foreground":"#fff","title":"#fff","population":0.06,"background":"#4a3f3c","_type":"sanity.imagePaletteSwatch"},"muted":{"population":0.69,"background":"#9f7960","_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff"},"lightVibrant":{"_type":"sanity.imagePaletteSwatch","foreground":"#000","title":"#fff","population":0,"background":"#d4bfa5"},"darkVibrant":{"background":"#613925","_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff","population":2.24},"lightMuted":{"title":"#fff","population":2.9,"background":"#ccbeb2","_type":"sanity.imagePaletteSwatch","foreground":"#000"}},"hasAlpha":true,"lqip":"data:image/jpeg;base64,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","dimensions":{"_type":"sanity.imageDimensions","width":480,"aspectRatio":1.7777777777777777,"height":270},"isOpaque":true,"blurHash":"MDH_VwMx00RjMx~pRit8-;4oEMt7xtWC%1"},"_updatedAt":"2024-09-13T21:27:06Z","uploadId":"0Ivzy1dafAAYGHt7braClplJWccePI0C"},"crop":{"top":0,"left":0,"bottom":0,"_type":"sanity.imageCrop","right":0},"hotspot":{"_type":"sanity.imageHotspot","width":0.9212328767123285,"x":0.5,"y":0.5,"height":1}},"_rev":"rkCszy9rIDJ6V0kUgJ3NUf","_updatedAt":"2024-09-13T21:28:21Z","title":"How Today’s Retirees Are Thwarting ‘Silver Tsunami’ Predictions","_id":"a64499d6-fac7-4855-9d26-55938bb05096","slug":"/story/2024/09/how-todays-retirees-are-thwarting-silver-tsunami-predictions","summary":"Millions of baby boomers are staying right where they are. ","_type":"story","body":[{"_type":"block","style":"normal","_key":"56d7c0f54708","markDefs":[{"_key":"41e6de45e8fb","_type":"link","href":"https://finance.yahoo.com/news/silver-tsunami-baby-boomers-plan-200151927.html"}],"children":[{"_type":"span","marks":[],"text":"While many Americans in younger generations say it’s not feasible to purchase a home, a majority of baby boomers currently own their homes. And since so many of them aren’t interested in selling them, ","_key":"5c6e7d5b373c0"},{"_type":"span","marks":["41e6de45e8fb"],"text":"forecasts","_key":"5c6e7d5b373c1"},{"_type":"span","marks":[],"text":" of a so-called “silver tsunami” of houses going on the market seem to have been premature at best.","_key":"5c6e7d5b373c2"}]},{"children":[{"_type":"span","marks":["strong"],"text":"Boomers by the numbers","_key":"348abe90a9c30"}],"_type":"block","style":"normal","_key":"ea2409d72a0c","markDefs":[]},{"style":"normal","_key":"983184c654cc","markDefs":[],"children":[{"text":"It was only five years ago that realty platform Zillow issued its prediction that the market would soon become inundated with homes being sold by aging baby boomers. At that time, analysts thought ","_key":"b405cd45c6620","_type":"span","marks":[]},{"_type":"span","marks":["strong"],"text":"more than one-fourth of all homes ","_key":"acd9307ed90f"},{"_key":"151f1738bb88","_type":"span","marks":[],"text":"occupied by their owners would be on the market by 2037."}],"_type":"block"},{"_key":"b0e920e41008","markDefs":[],"children":[{"_type":"span","marks":[],"text":"Since then, however, there’s been little change in the trendlines. And the reason appears to be that boomers, by and large, just aren’t keen on the idea of selling their homes.","_key":"44bd01f3e0de0"}],"_type":"block","style":"normal"},{"_key":"075a6968d56d","listItem":"bullet","markDefs":[],"children":[{"_type":"span","marks":[],"text":"More than three-fifths of all boomers are ","_key":"661f8cc5fc700"},{"_type":"span","marks":["strong"],"text":"currently homeowners","_key":"8f4b29e22a48"},{"text":".","_key":"7fdc1c7658fe","_type":"span","marks":[]}],"level":1,"_type":"block","style":"normal"},{"level":1,"_type":"block","style":"normal","_key":"a933e1b1e015","listItem":"bullet","markDefs":[],"children":[{"_type":"span","marks":[],"text":"Just over half of that group say they want to","_key":"9ed71bb3a91b0"},{"_type":"span","marks":["strong"],"text":" live the rest of their lives ","_key":"7d53731c72b7"},{"marks":[],"text":"in their homes.","_key":"97eef539594b","_type":"span"}]},{"markDefs":[],"children":[{"_type":"span","marks":[],"text":"A scant 15% say they could possibly sell their homes ","_key":"44e21e58ecd20"},{"text":"within five years","_key":"59fb96f2dff0","_type":"span","marks":["strong"]},{"_type":"span","marks":[],"text":".","_key":"f9f76d180825"}],"level":1,"_type":"block","style":"normal","_key":"777c0342fb6b","listItem":"bullet"},{"markDefs":[],"children":[{"_type":"span","marks":[],"text":"Another 15% might sell somewhere between","_key":"6b1fc4f7e3f50"},{"marks":["strong"],"text":" five and 10 years","_key":"67489f2b2ff1","_type":"span"},{"_type":"span","marks":[],"text":" from now.","_key":"da1a061c832f"}],"level":1,"_type":"block","style":"normal","_key":"411e9cbdc926","listItem":"bullet"},{"_key":"23b23d0d1eac","markDefs":[],"children":[{"_type":"span","marks":["strong"],"text":"Aging in place","_key":"8df8ccf9ffd40"}],"_type":"block","style":"normal"},{"children":[{"_type":"span","marks":[],"text":"Determined to remain independent into their golden years, a larger number of boomers say they want to stay in their homes as long as they can. It’s called “aging in place,” and those who are practicing it say it can provide a sense of ","_key":"8709fe6714e90"},{"_type":"span","marks":["strong"],"text":"financial security and independence","_key":"63f1dc2f6d34"},{"_type":"span","marks":[],"text":".","_key":"5aa8088068f5"}],"_type":"block","style":"normal","_key":"34b4cef33440","markDefs":[]},{"markDefs":[],"children":[{"_type":"span","marks":[],"text":"But those boomers who are thinking about selling their homes, there are some compelling reasons. ","_key":"eb86918071720"},{"_key":"6d87d506b5a1","_type":"span","marks":["strong"],"text":"A whopping 90%"},{"_type":"span","marks":[],"text":" of the older homeowners in one survey said they were concerned about being able to take care of home repairs.","_key":"fee4c8ec838f"}],"_type":"block","style":"normal","_key":"3b74f89a4f13"},{"children":[{"_type":"span","marks":[],"text":"And among those planning to sell, ","_key":"54962c216d7b0"},{"_key":"b3f68019379a","_type":"span","marks":["strong"],"text":"about two-thirds"},{"_type":"span","marks":[],"text":" say they expect to rake in profits of more than $100,000.","_key":"15b6b22cddd1"}],"_type":"block","style":"normal","_key":"6f523693e94b","markDefs":[]}],"author":{"_ref":"phCNL32Gn","_type":"reference"}},{"body":[{"children":[{"marks":[],"text":"As consumers look back on the soaring prices of the past couple of years, it’s only natural to ask which policymakers and institutions deserve blame. And central bankers ","_key":"2bc4ff40ce3d0","_type":"span"},{"_type":"span","marks":["strong"],"text":"have been a major factor","_key":"7acedabf9fc1"},{"marks":[],"text":" in the decisions that have been made in an effort to bring the inflation rate down — so that leaves us with an obvious question. Was the Federal Reserve’s ","_key":"c7b7a7b77957","_type":"span"},{"_type":"span","marks":["53c050757e14"],"text":"decision","_key":"2bc4ff40ce3d1"},{"_type":"span","marks":[],"text":" right or wrong?","_key":"2bc4ff40ce3d2"}],"_type":"block","style":"normal","_key":"9f0de51e6bbd","markDefs":[{"href":"https://finance.yahoo.com/news/why-it-may-not-be-fair-to-say-fed-made-inflation-mistake-141024169.html","_key":"53c050757e14","_type":"link"}]},{"markDefs":[],"children":[{"_key":"7049a51457e70","_type":"span","marks":["strong"],"text":"Unpacking the Fed’s strategy"}],"_type":"block","style":"normal","_key":"40ab26f31b92"},{"_type":"block","style":"normal","_key":"b9265712f4b4","markDefs":[],"children":[{"_type":"span","marks":[],"text":"Let’s start with what the central bank actually did and why. Generally speaking, the Federal Reserve","_key":"558254dfd94a0"},{"text":" hikes interest rates","_key":"f79347e42ec8","_type":"span","marks":["strong"]},{"_type":"span","marks":[],"text":" in an effort to cool spending, thereby reducing demand and (hopefully) leading to lower inflation.","_key":"08ad08dbd98a"}]},{"_type":"block","style":"normal","_key":"8e3ee3ed60c8","markDefs":[],"children":[{"_key":"a454f863e29b0","_type":"span","marks":[],"text":"And in this case, the Federal Reserve did exactly that. But some critics say it was too little, too late."}]},{"markDefs":[],"children":[{"marks":[],"text":"Interest rate increases began in March 2022, at which time the annual inflation rate was at a higher-than-optimal 5.5% but","_key":"517205ed7b070","_type":"span"},{"_type":"span","marks":["strong"],"text":" far lower than its recent peak","_key":"dd6cb4bf7cc8"},{"text":". At the same time, the unemployment rate was at a historically low 3.6%.","_key":"45c6fdf9d07c","_type":"span","marks":[]}],"_type":"block","style":"normal","_key":"83bb7345352a"},{"_key":"43c8737b5737","markDefs":[],"children":[{"_type":"span","marks":[],"text":"Central bankers had to figure out how much to raise rates so costs would stabilize without triggering widespread job losses.","_key":"6722d8a815d70"}],"_type":"block","style":"normal"},{"style":"normal","_key":"54f8c8784553","markDefs":[],"children":[{"_key":"8b5ea14136bd0","_type":"span","marks":["strong"],"text":"Damned if you do, damned if you don’t"}],"_type":"block"},{"_type":"block","style":"normal","_key":"2ff6a4ce59d9","markDefs":[],"children":[{"_type":"span","marks":[],"text":"There’s no question that the inflation rate continued to climb long after the Fed took its initial action, so it’s easy for people to point accusatory fingers at the central bank.","_key":"8596dee60c010"}]},{"markDefs":[],"children":[{"_key":"ec67418e8ef10","_type":"span","marks":[],"text":"But does that mean interest rates should have started climbing much earlier? The short answer is "},{"_type":"span","marks":["strong"],"text":"it’s impossible to say ","_key":"d608ddddfd5d"},{"_type":"span","marks":[],"text":"for certain.","_key":"b1a8a80e6a43"}],"_type":"block","style":"normal","_key":"430f3f3a8884"},{"children":[{"_key":"7cf14945ffc40","_type":"span","marks":[],"text":"Some believe that if the Fed had raised rates a few months earlier, it could have stemmed the tide and inflation would have moderated earlier. Others, however, think any consumer price benefits would have been"},{"_type":"span","marks":["strong"],"text":" more than offset","_key":"44f254ec902b"},{"_type":"span","marks":[],"text":" by job losses.","_key":"b88e028175da"}],"_type":"block","style":"normal","_key":"3653c0bc9ba9","markDefs":[]},{"_type":"block","style":"normal","_key":"2e67135bea10","markDefs":[],"children":[{"text":"The bottom line is that central bankers often find themselves in no-win situations.","_key":"6cd6de1a14480","_type":"span","marks":[]}]}],"summary":"It's easy to point fingers, but central bankers might not deserve all the blame.","_type":"story","category":"economy","title":"Did The Federal Reserve Drop The Ball In Its Fight Against Inflation?","id":"6zqXUv8H","_rev":"rzUeb2AA2NTA1NSQTSLF0c","_createdAt":"2024-09-08T23:09:38Z","slug":"/story/2024/09/did-the-federal-reserve-drop-the-ball-in-its-fight-against-inflation","author":{"_ref":"phCNL32Gn","_type":"reference"},"image":{"hotspot":{"x":0.5,"y":0.5,"height":1,"_type":"sanity.imageHotspot","width":0.9246575342465753},"_type":"image","attribution":"Giphy","asset":{"_type":"sanity.imageAsset","source":{"name":"Federal Reserve Powell GIF by GIPHY News","id":"Ybvh2O5YFd1ckgfiBJ","url":"https://giphy.com/gifs/news-federal-reserve-jerome-powell-fomc-Ybvh2O5YFd1ckgfiBJ"},"url":"https://cdn.sanity.io/images/8mioycse/v3/cd47bb5fedfc3afcaea6406c45e161062b0818fb-480x276.gif","path":"images/8mioycse/v3/cd47bb5fedfc3afcaea6406c45e161062b0818fb-480x276.gif","extension":"gif","metadata":{"_type":"sanity.imageMetadata","palette":{"lightMuted":{"foreground":"#000","title":"#000","population":6,"background":"#cbc8c5","_type":"sanity.imagePaletteSwatch"},"vibrant":{"title":"#fff","population":0.38,"background":"#ba8c2f","_type":"sanity.imagePaletteSwatch","foreground":"#fff"},"dominant":{"background":"#cbc8c5","_type":"sanity.imagePaletteSwatch","foreground":"#000","title":"#000","population":6},"_type":"sanity.imagePalette","darkMuted":{"background":"#623731","_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff","population":5.6},"muted":{"title":"#fff","population":0,"background":"#ac6464","_type":"sanity.imagePaletteSwatch","foreground":"#fff"},"lightVibrant":{"background":"#e4ca95","_type":"sanity.imagePaletteSwatch","foreground":"#000","title":"#000","population":0},"darkVibrant":{"background":"#5d3a10","_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff","population":0.02}},"hasAlpha":true,"lqip":"data:image/jpeg;base64,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","dimensions":{"width":480,"aspectRatio":1.7391304347826086,"height":276,"_type":"sanity.imageDimensions"},"isOpaque":true,"blurHash":"M7CPheOBD+R+~C0KnjK6WEM{AGnii_R+og"},"uploadId":"TdXnKIflXDkZkJgOiORKXfm9oe0qs2AP","_rev":"rzUeb2AA2NTA1NSQTSBEQK","size":1420636,"_updatedAt":"2024-09-08T23:13:46Z","sha1hash":"cd47bb5fedfc3afcaea6406c45e161062b0818fb","assetId":"cd47bb5fedfc3afcaea6406c45e161062b0818fb","_id":"image-cd47bb5fedfc3afcaea6406c45e161062b0818fb-480x276-gif","mimeType":"image/gif","originalFilename":"6f11a295-61ec-410d-82c3-eaf44f95c758.gif","_createdAt":"2024-09-08T23:13:46Z"},"crop":{"bottom":0,"_type":"sanity.imageCrop","right":0,"top":0,"left":0}},"_id":"152d21be-ecc0-4f7c-a18b-df847e38802e","visibility":"true","_updatedAt":"2024-09-08T23:15:51Z","publishDate":"2024-09-09"},{"slug":"/story/2024/08/looking-for-a-career-with-serious-growth-potential-consider-one-of-these-industries","publishDate":"2024-08-30","id":"UeZ7K0VT","category":"economy","_createdAt":"2024-08-29T23:21:38Z","_id":"2248e380-597d-4651-bbbc-fb8c591f6180","title":"Looking For A Career With Serious Growth Potential? Consider One Of These Industries.","author":{"_ref":"phCNL32Gn","_type":"reference"},"_rev":"So1K4B3q2ZGDWAN4s6CiRT","summary":"Tech advancements aren't going to derail these job paths.","visibility":"true","_updatedAt":"2024-08-29T23:24:20Z","body":[{"markDefs":[],"children":[{"marks":[],"text":"The jobs market is still relatively strong despite some serious economic headwinds, but that doesn’t mean everybody’s job will survive the impact of AI and other variables in the coming months and years.","_key":"ef94dbd5a2170","_type":"span"}],"_type":"block","style":"normal","_key":"fa8338949a9c"},{"style":"normal","_key":"b165017c9708","markDefs":[{"_type":"link","href":"https://www.businessinsider.in/policy/economy/news/the-15-fastest-growing-jobs-in-the-us/articleshow/112905248.cms","_key":"ba06e4d1d1e2"}],"children":[{"_type":"span","marks":[],"text":"Nevertheless, the Bureau of Labor Statistics recently released a ","_key":"83b8b50adc820"},{"_type":"span","marks":["ba06e4d1d1e2"],"text":"report","_key":"83b8b50adc821"},{"text":" identifying some of the occupations expected to see the most rapid growth over the course of the next decade.","_key":"83b8b50adc822","_type":"span","marks":[]}],"_type":"block"},{"markDefs":[],"children":[{"_type":"span","marks":["strong"],"text":"Starting at the top","_key":"71100fc9ed510"}],"_type":"block","style":"normal","_key":"4bb63ad973a9"},{"children":[{"_type":"span","marks":[],"text":"Without further ado, let’s reveal the occupation that","_key":"b4d9feb01f520"},{"_key":"60f4e0de61e6","_type":"span","marks":["strong"],"text":" topped the list"},{"_key":"d8068d9ecd67","_type":"span","marks":[],"text":": wind turbine service technician."}],"_type":"block","style":"normal","_key":"293bc5705ea8","markDefs":[]},{"markDefs":[],"children":[{"_type":"span","marks":[],"text":"With renewable energy trends being what they are it actually makes a lot of sense why it came in at the #1 spot (and solar photovoltaic installers came in a close second).","_key":"8f69f472c5890"}],"_type":"block","style":"normal","_key":"0084cf15fcd5"},{"_type":"block","style":"normal","_key":"afc3a99877ad","markDefs":[],"children":[{"_type":"span","marks":[],"text":"As the BLS report determined: “The increased demand for electricity is related to growth in electric vehicles and new data centers. Although these occupations are expected to be fast growing, the two occupations are projected to add ","_key":"e99ac10a2afd0"},{"text":"fewer than 20,000","_key":"5f504d0ed26e","_type":"span","marks":["strong"]},{"_type":"span","marks":[],"text":" jobs combined.”","_key":"8122a8b66b28"}]},{"markDefs":[],"children":[{"_key":"82144106db680","_type":"span","marks":[],"text":"Their respective rate of growth might be higher than other occupations, but some other entries in the top 10 are poised to create a lot more jobs."}],"_type":"block","style":"normal","_key":"cc9ea93005ca"},{"_type":"block","style":"normal","_key":"e4bbf4a0fbc1","markDefs":[],"children":[{"_type":"span","marks":["strong"],"text":"Health and tech domination","_key":"d4878c7005420"}]},{"markDefs":[],"children":[{"marks":[],"text":"Starting with the third occupation on the list — nurse practitioner — and including several others near the top, it seems clear that the medical field will be responsible for much of the employment growth between now and the mid 2030s.","_key":"be4c21a720fb0","_type":"span"}],"_type":"block","style":"normal","_key":"f7d5ec4fdd2a"},{"markDefs":[],"children":[{"marks":[],"text":"Coming in at #6 is medical and health services manager, which is expected to add the most jobs in real numbers … ","_key":"9644da6d94920","_type":"span"},{"_type":"span","marks":["strong"],"text":"more than 160,000","_key":"dee4819e00f2"},{"_type":"span","marks":[],"text":" between 2023 and 2033, to be exact.","_key":"18b8d40e441b"}],"_type":"block","style":"normal","_key":"f00597a56def"},{"style":"normal","_key":"a49f176bbbcd","markDefs":[],"children":[{"_type":"span","marks":[],"text":"Physician assistant and physical therapist assistant also landed on the list at numbers 7 and 9, respectively.","_key":"a1c2d6d8b2d90"}],"_type":"block"},{"style":"normal","_key":"304f632f8729","markDefs":[],"children":[{"_type":"span","marks":[],"text":"Tech jobs like data scientist, information security analyst, computer and information research scientist, and operations research analyst rounded out the top 10.","_key":"cc113c6ff2030"}],"_type":"block"}],"image":{"asset":{"extension":"gif","sha1hash":"bd5d2e602b36afaab3ea9f0e663a23ff5e4e17c2","_createdAt":"2024-08-29T23:23:25Z","_rev":"9Rnn4FXS2RekpdmC4U6Oge","source":{"name":"Money Hiring GIF by StickerGiant","id":"9lli2TQ2NsFtTMBNyE","url":"https://giphy.com/gifs/stickergiant-hired-sticker-giant-youre-9lli2TQ2NsFtTMBNyE"},"mimeType":"image/gif","size":2631589,"_id":"image-bd5d2e602b36afaab3ea9f0e663a23ff5e4e17c2-960x540-gif","_updatedAt":"2024-08-29T23:23:25Z","originalFilename":"53d6e0f9-36e4-4dd2-b1af-ae4b05c94988.gif","metadata":{"blurHash":"MeIiRyWCPXxuVXOaj]V@WBxBozj[s8WBS5","_type":"sanity.imageMetadata","palette":{"vibrant":{"_type":"sanity.imagePaletteSwatch","foreground":"#000","title":"#fff","population":0,"background":"#cc8c6c"},"dominant":{"background":"#67443b","_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff","population":3.74},"_type":"sanity.imagePalette","darkMuted":{"population":3.74,"background":"#67443b","_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff"},"muted":{"foreground":"#fff","title":"#fff","population":0,"background":"#9c5454","_type":"sanity.imagePaletteSwatch"},"lightVibrant":{"population":0.16,"background":"#8fbef4","_type":"sanity.imagePaletteSwatch","foreground":"#000","title":"#fff"},"darkVibrant":{"background":"#2c547c","_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff","population":0},"lightMuted":{"foreground":"#000","title":"#fff","population":1.73,"background":"#91adc8","_type":"sanity.imagePaletteSwatch"}},"hasAlpha":true,"lqip":"data:image/jpeg;base64,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","dimensions":{"_type":"sanity.imageDimensions","width":960,"aspectRatio":1.7777777777777777,"height":540},"isOpaque":true},"uploadId":"gHHYIw8Qpba62Pd9Z5TsZ6VOut7RWPC1","_type":"sanity.imageAsset","url":"https://cdn.sanity.io/images/8mioycse/v3/bd5d2e602b36afaab3ea9f0e663a23ff5e4e17c2-960x540.gif","path":"images/8mioycse/v3/bd5d2e602b36afaab3ea9f0e663a23ff5e4e17c2-960x540.gif","assetId":"bd5d2e602b36afaab3ea9f0e663a23ff5e4e17c2"},"crop":{"left":0,"bottom":0,"_type":"sanity.imageCrop","right":0,"top":0},"hotspot":{"width":0.9623287671232876,"x":0.5,"y":0.5,"height":1,"_type":"sanity.imageHotspot"},"_type":"image","attribution":"Giphy"},"_type":"story"},{"image":{"crop":{"left":0,"bottom":0,"_type":"sanity.imageCrop","right":0,"top":0},"hotspot":{"y":0.5,"height":1,"_type":"sanity.imageHotspot","width":0.9143835616438355,"x":0.5},"_type":"image","attribution":"Giphy","asset":{"metadata":{"palette":{"lightVibrant":{"_type":"sanity.imagePaletteSwatch","foreground":"#000","title":"#fff","population":0,"background":"#dec09b"},"darkVibrant":{"background":"#583a1b","_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff","population":0.05},"lightMuted":{"background":"#b8afac","_type":"sanity.imagePaletteSwatch","foreground":"#000","title":"#fff","population":8.08},"vibrant":{"population":0.03,"background":"#7d5829","_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff"},"dominant":{"title":"#fff","population":8.28,"background":"#473835","_type":"sanity.imagePaletteSwatch","foreground":"#fff"},"_type":"sanity.imagePalette","darkMuted":{"title":"#fff","population":8.28,"background":"#473835","_type":"sanity.imagePaletteSwatch","foreground":"#fff"},"muted":{"background":"#8e6d4f","_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff","population":0.3}},"hasAlpha":true,"lqip":"data:image/jpeg;base64,/9j/2wBDAAYEBQYFBAYGBQYHBwYIChAKCgkJChQODwwQFxQYGBcUFhYaHSUfGhsjHBYWICwgIyYnKSopGR8tMC0oMCUoKSj/2wBDAQcHBwoIChMKChMoGhYaKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCj/wAARCAAKABQDASIAAhEBAxEB/8QAGQAAAgMBAAAAAAAAAAAAAAAAAAUDBAYH/8QAIxAAAgAFBAIDAAAAAAAAAAAAAQIAAwQRIQUGE0ExYTJRsf/EABcBAAMBAAAAAAAAAAAAAAAAAAABAwT/xAAWEQEBAQAAAAAAAAAAAAAAAAAAATH/2gAMAwEAAhEDEQA/AOZbR3DMoFrkVAUVACPu8X9r7ibTZ9bSJJYz5ss3mN4HeIxOiMwqa2xI8dw45HNebu2UPfqJ3WiYhfUJ1YxnEZJN8+4IUacTwNk/Nv2CAn//2Q==","dimensions":{"_type":"sanity.imageDimensions","width":480,"aspectRatio":2,"height":240},"isOpaque":true,"blurHash":"MBAvzuNG9Goz4.~qRjM{t7D%-;WBRjj[M{","_type":"sanity.imageMetadata"},"source":{"id":"ZwKxMzJvLKydRfPeWl","url":"https://giphy.com/gifs/therokuchannel-die-hart-2-harter-ZwKxMzJvLKydRfPeWl","name":"Kevin Hart GIF by The Roku Channel"},"_createdAt":"2024-08-28T21:17:33Z","_id":"image-c0c1c72855105202d0d579348cd93978d8b57ac1-480x240-gif","extension":"gif","_type":"sanity.imageAsset","mimeType":"image/gif","originalFilename":"793409a2-adaa-483a-8532-1e8493e10e2e.gif","uploadId":"LfQiJ34wZJV8NaNcRP7ZvFIMjo58yp4Q","url":"https://cdn.sanity.io/images/8mioycse/v3/c0c1c72855105202d0d579348cd93978d8b57ac1-480x240.gif","assetId":"c0c1c72855105202d0d579348cd93978d8b57ac1","_updatedAt":"2024-08-28T21:17:33Z","_rev":"dKUtQIPFqzNpuGsuL1cWo7","sha1hash":"c0c1c72855105202d0d579348cd93978d8b57ac1","path":"images/8mioycse/v3/c0c1c72855105202d0d579348cd93978d8b57ac1-480x240.gif","size":773735}},"publishDate":"2024-08-29","_rev":"QfHNsBWM6rnpsM9ugnArox","_updatedAt":"2024-08-28T21:19:12Z","slug":"/story/2024/08/price-have-gone-up-a-lot-but-most-workers-income-has-increased-even-more","author":{"_type":"reference","_ref":"phCNL32Gn"},"_createdAt":"2024-08-28T21:16:25Z","_type":"story","summary":"Digging into the data reveals a silver lining to the dark cloud of inflation.","id":"d9gfwX1n","body":[{"markDefs":[],"children":[{"_type":"span","marks":[],"text":"Whether you’re shopping for groceries or a new car, you’re probably expecting some sticker shock. Even though the inflation rate has slowed considerably in recent months, prices remain much higher across the board than they were a few years ago.","_key":"b2622c2aa7ce0"}],"_type":"block","style":"normal","_key":"adb82c0790ce"},{"_key":"9d0c95c031cf","markDefs":[{"_type":"link","href":"https://www.nbcnews.com/business/economy/typical-us-worker-earned-inflation-1400-year-data-shows-rcna168579","_key":"5667789c7619"}],"children":[{"_type":"span","marks":[],"text":"But if you take a look at the bigger ","_key":"733b7ea2218f0"},{"marks":["5667789c7619"],"text":"picture","_key":"733b7ea2218f1","_type":"span"},{"text":",","_key":"733b7ea2218f2","_type":"span","marks":[]},{"_type":"span","marks":["strong"],"text":" there’s some good news","_key":"4f58a88eca5d"},{"text":" to report.","_key":"f5ce78a23506","_type":"span","marks":[]}],"_type":"block","style":"normal"},{"markDefs":[],"children":[{"_type":"span","marks":["strong"],"text":"Wages are keeping up","_key":"28713194ea6b0"}],"_type":"block","style":"normal","_key":"24001a7865bc"},{"style":"normal","_key":"73333507e60f","markDefs":[],"children":[{"_type":"span","marks":[],"text":"The economy is a complex system and inflation doesn’t only impact consumer prices. Income traditionally increases at the same time, meaning most household budgets can absorb the added expense.","_key":"49ba72bad9300"}],"_type":"block"},{"markDefs":[],"children":[{"_type":"span","marks":[],"text":"And in this inflationary cycle, the Treasury Department confirms that the average American worker is actually coming out ahead so far.","_key":"936e8d54e1a70"}],"_type":"block","style":"normal","_key":"c1c41e0f3153"},{"_type":"block","style":"normal","_key":"5f1ef3051704","markDefs":[],"children":[{"_type":"span","marks":[],"text":"Here’s how the statistics break down, as of July:","_key":"5e6e068c326c0"}]},{"style":"normal","_key":"45f4063490d9","listItem":"bullet","markDefs":[],"children":[{"_type":"span","marks":[],"text":"The Consumer Price Index ","_key":"b426aadba20f0"},{"marks":["strong"],"text":"increased by about 21.7% ","_key":"99a4891c89bd","_type":"span"},{"text":"between the end of 2019 and mid-2024.","_key":"13ae5dca2e32","_type":"span","marks":[]}],"level":1,"_type":"block"},{"style":"normal","_key":"23890619e2aa","listItem":"bullet","markDefs":[],"children":[{"_key":"133e6b691cbc0","_type":"span","marks":[],"text":"During the same period, median pre-tax weekly wages "},{"_type":"span","marks":["strong"],"text":"were up roughly 24%","_key":"4487fb96ee1a"},{"_key":"662b11487d0d","_type":"span","marks":[],"text":"."}],"level":1,"_type":"block"},{"_key":"37e6ba4d8d12","listItem":"bullet","markDefs":[],"children":[{"_key":"efa3bbaab1f80","_type":"span","marks":[],"text":"That means a typical worker can afford the same goods and services now as compared to 2019 … with"},{"_type":"span","marks":["strong"],"text":" $1,400 left over","_key":"072320d303f7"},{"text":" per year.","_key":"b90fa5c8546c","_type":"span","marks":[]}],"level":1,"_type":"block","style":"normal"},{"children":[{"_key":"41023abb0c3b0","_type":"span","marks":["strong"],"text":"Your mileage may vary"}],"_type":"block","style":"normal","_key":"1a38910bb537","markDefs":[]},{"style":"normal","_key":"b8788bf70afe","markDefs":[],"children":[{"text":"There’s a big difference between citing median wage growth and declaring inflation to be no big deal. Many workers haven’t seen their income increase while many others have lost their jobs as prices keep rising.","_key":"798db7fc52360","_type":"span","marks":[]}],"_type":"block"},{"markDefs":[],"children":[{"marks":[],"text":"Blue-collar workers were more likely than their white-collar counterparts to receive a significant pay bump, with ","_key":"b2bd0c4ca9b10","_type":"span"},{"_type":"span","marks":["strong"],"text":"an average increase of about 3.8% ","_key":"c9045c3f1a45"},{"_type":"span","marks":[],"text":"beyond the rate of inflation.","_key":"fc6a814cd6d1"}],"_type":"block","style":"normal","_key":"e552c8f60a43"},{"style":"normal","_key":"a433187b6e1d","markDefs":[],"children":[{"text":"Nevertheless, focusing on the broader trend allows us to take some comfort in the realization that the American economy might emerge from these tumultuous few years relatively unscathed.","_key":"6172faf285480","_type":"span","marks":[]}],"_type":"block"},{"markDefs":[],"children":[{"marks":[],"text":"As Treasury Department researchers concluded: “This solid increase continues to reflect ","_key":"f65ec1f21f2a0","_type":"span"},{"_type":"span","marks":["strong"],"text":"an improvement in the purchasing power","_key":"f9599de41f41"},{"_type":"span","marks":[],"text":" for the median worker since before the pandemic and is good news for American households.”","_key":"1080ac4a7b8d"}],"_type":"block","style":"normal","_key":"e706c98fb2b5"}],"category":"economy","visibility":"true","title":"Price Have Gone Up A Lot, But Most Workers’ Income Has Increased Even More","_id":"248450a5-acdf-4a17-8137-352ae4b00e7b"},{"body":[{"markDefs":[],"children":[{"text":"At this point, it kind of goes without saying that the American economy is in a state of uncertainty. One day, data will seem to show we’re headed in the right direction, and the next will drop an unexpected hammer of doom.","_key":"5bddf5f007530","_type":"span","marks":[]}],"_type":"block","style":"normal","_key":"e9e9867c75f8"},{"markDefs":[],"children":[{"_type":"span","marks":[],"text":"But throughout it all, consumers have remained resilient … and the chief financial officer of one major retail chain recently shared his thoughts.","_key":"d056ffeb3b2a0"}],"_type":"block","style":"normal","_key":"71ee214c5197"},{"_type":"block","style":"normal","_key":"7e6a4af54211","markDefs":[],"children":[{"_type":"span","marks":["strong"],"text":"What he believes","_key":"9ecb2e0d61140"}]},{"_key":"4ff2d7f7cd19","markDefs":[],"children":[{"_type":"span","marks":[],"text":"During recent statements tied to the release of Walmart’s second-quarter financial report, John David Rainey put the generally positive results into perspective.","_key":"7dcff79d44c20"}],"_type":"block","style":"normal"},{"_key":"95b7289e43da","markDefs":[],"children":[{"marks":[],"text":"“We continue to believe that customers are discerning, they are choiceful, they are ","_key":"3cd2fd2b10980","_type":"span"},{"_type":"span","marks":["strong"],"text":"focusing on essentials","_key":"e6150491421a"},{"marks":[],"text":" versus discretionary items, but we have not seen any incremental fraying of consumer health,” he explained.","_key":"dea59f6d251b","_type":"span"}],"_type":"block","style":"normal"},{"_key":"b23a0ad94eb5","markDefs":[],"children":[{"_type":"span","marks":[],"text":"Rainey went on to determine that he “wouldn’t say strength, ","_key":"e431f8ddd3210"},{"_type":"span","marks":["strong"],"text":"but lack of weakness","_key":"39c31be7f24d"},{"_type":"span","marks":[],"text":"” describes the overarching consumer sentiment.","_key":"fc5dbf76c4ef"}],"_type":"block","style":"normal"},{"children":[{"_type":"span","marks":[],"text":"And considering all of the variables currently impacting the future of America’s economy, “lack of weakness” might be about as good as we can expect.","_key":"3611a361c2ea0"}],"_type":"block","style":"normal","_key":"17cd5f3ce108","markDefs":[]},{"_type":"block","style":"normal","_key":"a4cca0ba6eb0","markDefs":[],"children":[{"_type":"span","marks":["strong"],"text":"What’s at stake","_key":"8341330aba070"}]},{"style":"normal","_key":"81f40e88dc1b","markDefs":[],"children":[{"_key":"7816f628ccbe0","_type":"span","marks":[],"text":"While most of the media attention is focused on inflation, that is only one piece of a much larger and more complex puzzle."}],"_type":"block"},{"markDefs":[],"children":[{"_type":"span","marks":[],"text":"Experts point to ","_key":"89bda1de3d110"},{"text":"a wide range of data points","_key":"6b85f0582768","_type":"span","marks":["strong"]},{"_type":"span","marks":[],"text":" that must be considered in context if we’re going to paint any realistic picture of the nation’s economic health.","_key":"9c6020a44385"}],"_type":"block","style":"normal","_key":"5755b981a357"},{"children":[{"_type":"span","marks":[],"text":"Here’s a breakdown of some of those factors:","_key":"5901cd7211300"}],"_type":"block","style":"normal","_key":"f4e1ac554056","markDefs":[]},{"markDefs":[],"children":[{"_type":"span","marks":["strong"],"text":"Retail sales","_key":"d0f98769a2f80"},{"marks":[],"text":": Reports indicate 2.7% annual growth last month to reach a new record.","_key":"b3d6862dd969","_type":"span"}],"level":1,"_type":"block","style":"normal","_key":"6d117a84411a","listItem":"bullet"},{"style":"normal","_key":"f3814132574d","listItem":"bullet","markDefs":[],"children":[{"_type":"span","marks":["strong"],"text":"Card spending","_key":"5645c9d793ef0"},{"_type":"span","marks":[],"text":": Elevated credit use can be a bad sign, but card spending overall is currently on the decline.","_key":"2d28ee34b355"}],"level":1,"_type":"block"},{"listItem":"bullet","markDefs":[],"children":[{"_key":"dafe251661d30","_type":"span","marks":["strong"],"text":"Unemployment"},{"_type":"span","marks":[],"text":": Claims fell during the last recorded week after a period of modest increases.","_key":"b6c96f023888"}],"level":1,"_type":"block","style":"normal","_key":"e6b2f4a0c667"},{"children":[{"_type":"span","marks":[],"text":"Along with lower gas prices and mortgage rate reductions, there’s some compelling reasons for consumers to be cautiously optimistic these days.","_key":"ce753a9d01040"}],"_type":"block","style":"normal","_key":"086947bc1944","markDefs":[]}],"title":"Did Walmart’s CEO Just Perfectly Describe The Predicament Of US Consumers?","slug":"/story/2024/08/did-walmarts-ceo-just-perfectly-describe-the-predicament-of-us-consumers","summary":"Amid a state of economic uncertainty are a few glimmering signs of hope.","_rev":"sTPsDSH3bbtiQqVFwoBjyK","id":"1YEqAFli","visibility":"true","_createdAt":"2024-08-18T20:16:03Z","_id":"e9dd831d-b39c-4f61-9a28-780d45a1f5bb","image":{"attribution":"Giphy","asset":{"url":"https://cdn.sanity.io/images/8mioycse/v3/05a7271eb34a3e59f3ead513f034f8fea25a02f8-480x270.gif","assetId":"05a7271eb34a3e59f3ead513f034f8fea25a02f8","_createdAt":"2024-08-18T20:15:07Z","extension":"gif","metadata":{"hasAlpha":true,"lqip":"data:image/jpeg;base64,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","dimensions":{"height":270,"_type":"sanity.imageDimensions","width":480,"aspectRatio":1.7777777777777777},"isOpaque":true,"blurHash":"M6Altm^P00xE}s0e9u$k%2xu4;NG?GRk9a","_type":"sanity.imageMetadata","palette":{"muted":{"background":"#ad7b6b","_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff","population":6.25},"lightVibrant":{"title":"#fff","population":0.01,"background":"#fcacbc","_type":"sanity.imagePaletteSwatch","foreground":"#000"},"darkVibrant":{"_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff","population":1.06,"background":"#6b0a18"},"lightMuted":{"background":"#ceafa4","_type":"sanity.imagePaletteSwatch","foreground":"#000","title":"#fff","population":1.47},"vibrant":{"_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff","population":0.01,"background":"#bc2e4e"},"dominant":{"_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff","population":6.25,"background":"#ad7b6b"},"_type":"sanity.imagePalette","darkMuted":{"population":1.34,"background":"#6b3e36","_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff"}}},"_id":"image-05a7271eb34a3e59f3ead513f034f8fea25a02f8-480x270-gif","uploadId":"hUfbbZoIevgYRKrs7yvnDSzfiCTVsFrV","_type":"sanity.imageAsset","path":"images/8mioycse/v3/05a7271eb34a3e59f3ead513f034f8fea25a02f8-480x270.gif","size":1223192,"originalFilename":"06f97ff8-7968-4b76-8526-edf15a4877cd.gif","mimeType":"image/gif","source":{"url":"https://giphy.com/gifs/therokuchannel-season-1-the-roku-channel-marriage-pact-NXcAvmNODYvQOUe80r","name":"Shopping Spree GIF by The Roku Channel","id":"NXcAvmNODYvQOUe80r"},"_updatedAt":"2024-08-18T20:15:07Z","_rev":"sTPsDSH3bbtiQqVFwoBUyy","sha1hash":"05a7271eb34a3e59f3ead513f034f8fea25a02f8"},"crop":{"top":0,"left":0,"bottom":0,"_type":"sanity.imageCrop","right":0},"hotspot":{"height":1,"_type":"sanity.imageHotspot","width":0.9006849315068491,"x":0.5,"y":0.5},"_type":"image"},"category":"economy","_type":"story","publishDate":"2024-08-19","_updatedAt":"2024-08-18T20:16:03Z","author":{"_ref":"phCNL32Gn","_type":"reference"}},{"author":{"_ref":"phCNL32Gn","_type":"reference"},"visibility":"true","category":"economy","slug":"/story/2024/08/lower-mortgage-rates-are-fueling-a-refinancing-revolution","publishDate":"2024-08-15","_id":"57af2f15-0fe1-4e50-9f40-f74696250844","_updatedAt":"2024-08-14T21:31:55Z","summary":"The cost of borrowing is lower than it's been in more than a year. ","title":"Lower Mortgage Rates Are Fueling A Refinancing Revolution","_createdAt":"2024-08-14T21:31:55Z","image":{"asset":{"_updatedAt":"2024-08-14T21:30:29Z","metadata":{"lqip":"data:image/jpeg;base64,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","dimensions":{"height":225,"_type":"sanity.imageDimensions","width":400,"aspectRatio":1.7777777777777777},"isOpaque":true,"blurHash":"MDA9{F~9IT4?M_-M%2ogV?kEIqRjs:xts.","_type":"sanity.imageMetadata","palette":{"darkVibrant":{"foreground":"#fff","title":"#fff","population":6.87,"background":"#123775","_type":"sanity.imagePaletteSwatch"},"lightMuted":{"_type":"sanity.imagePaletteSwatch","foreground":"#000","title":"#fff","population":6.51,"background":"#aa9b97"},"vibrant":{"background":"#3a63a9","_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff","population":0.77},"dominant":{"_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff","population":6.9,"background":"#523c2b"},"_type":"sanity.imagePalette","darkMuted":{"background":"#523c2b","_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff","population":6.9},"muted":{"population":6.08,"background":"#7c6343","_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff"},"lightVibrant":{"population":0.06,"background":"#929ece","_type":"sanity.imagePaletteSwatch","foreground":"#000","title":"#fff"}},"hasAlpha":true},"size":2010629,"assetId":"01bfcae3a1e620023951fc7d73f25c7aebc3f966","_id":"image-01bfcae3a1e620023951fc7d73f25c7aebc3f966-400x225-gif","extension":"gif","sha1hash":"01bfcae3a1e620023951fc7d73f25c7aebc3f966","url":"https://cdn.sanity.io/images/8mioycse/v3/01bfcae3a1e620023951fc7d73f25c7aebc3f966-400x225.gif","originalFilename":"83a6dfa3-cd18-406f-af37-ad84c581b1b8.gif","_rev":"7z9DTPJiA0Lofgig0Mve4X","_type":"sanity.imageAsset","mimeType":"image/gif","source":{"id":"xT4uQ6BJ5e7zqfzAiY","url":"https://giphy.com/gifs/veephbo-veep-julia-louis-dreyfus-season-5-xT4uQ6BJ5e7zqfzAiY","name":"Julia Louis-Dreyfus Veep Season 5 GIF by Veep HBO"},"path":"images/8mioycse/v3/01bfcae3a1e620023951fc7d73f25c7aebc3f966-400x225.gif","_createdAt":"2024-08-14T21:30:29Z","uploadId":"N0bsd1ALFMENFvE2d6S2x5il3D3LjNrg"},"crop":{"top":0,"left":0,"bottom":0,"_type":"sanity.imageCrop","right":0},"hotspot":{"width":0.934931506849315,"x":0.5,"y":0.5,"height":1,"_type":"sanity.imageHotspot"},"_type":"image","attribution":"Giphy"},"id":"IYLyyVrT","body":[{"markDefs":[],"children":[{"_key":"d6736d1048d50","_type":"span","marks":[],"text":"The average 30-year mortgage rate is "},{"_type":"span","marks":["strong"],"text":"now down to 6.47%","_key":"ecec11b42e3d"},{"_type":"span","marks":[],"text":", according to financial services giant Freddie Mac. That represents the second straight week the rate has dropped.","_key":"0ed9259a63ce"}],"_type":"block","style":"normal","_key":"0ae5fe0db2c8"},{"markDefs":[{"_type":"link","href":"https://www.businessinsider.com/mortgage-rates-30-year-refinance-applications-real-estate-housing-market-2024-8","_key":"6236b195105a"}],"children":[{"_type":"span","marks":[],"text":"Sure, it’s still a lot higher than it was just a few years ago … but it’s also lower than it’s been at any point since May 2023. So it’s not surprising that those ","_key":"cec08322321d0"},{"text":"locked","_key":"cec08322321d1","_type":"span","marks":["6236b195105a"]},{"text":" into a higher rate are now starting to weigh their options.","_key":"cec08322321d2","_type":"span","marks":[]}],"_type":"block","style":"normal","_key":"dde7233141f0"},{"_type":"block","style":"normal","_key":"1b9f86aa1c66","markDefs":[],"children":[{"marks":["strong"],"text":"Borrowers react","_key":"dd8d377c173f0","_type":"span"}]},{"markDefs":[],"children":[{"_type":"span","marks":[],"text":"A new report from the Mortgage Bankers Association highlighted the trend in a new report, revealing that:","_key":"d2a7adfbdf0c0"}],"_type":"block","style":"normal","_key":"65b18e68cb7f"},{"style":"normal","_key":"5446c27233b3","listItem":"bullet","markDefs":[],"children":[{"_type":"span","marks":[],"text":"Its refinancing index is","_key":"7cfb72e1d6d30"},{"_type":"span","marks":["strong"],"text":" higher than it’s been","_key":"bca8d963f63b"},{"_type":"span","marks":[],"text":" since 2022","_key":"d3b1d3fd52f5"}],"level":1,"_type":"block"},{"markDefs":[],"children":[{"_type":"span","marks":[],"text":"The demand for refinanced mortgages ","_key":"91c32a25c7bc0"},{"_key":"de1b156d2414","_type":"span","marks":["strong"],"text":"spiked nearly 35%"},{"marks":[],"text":" in just one week","_key":"a501746b9fa3","_type":"span"}],"level":1,"_type":"block","style":"normal","_key":"a40bbfac45fa","listItem":"bullet"},{"style":"normal","_key":"cbd00354f678","listItem":"bullet","markDefs":[],"children":[{"text":"Compared to the same point last year, ","_key":"990a266a18cc0","_type":"span","marks":[]},{"marks":["strong"],"text":"the index is up 118%","_key":"fbe4dc73f918","_type":"span"}],"level":1,"_type":"block"},{"_type":"block","style":"normal","_key":"ffdd0130e267","markDefs":[],"children":[{"marks":[],"text":"The motivation for refinancing is clear, considering the considerable sum each fraction of a percent can add to the cost of a mortgage over the course of its term. And Joel Kan, the chief economist for the Mortgage Bankers Association, noted that borrowers aren’t wasting any time trying to maximize their savings.","_key":"2e543cd217940","_type":"span"}]},{"children":[{"_type":"span","marks":[],"text":"“Rates on both 30- and 15-year fixed rate mortgages decreased for the second consecutive week, and combined with the previous week’s rate moves,","_key":"1f26451810b40"},{"_key":"fad26934715b","_type":"span","marks":["strong"],"text":" spurred another strong week"},{"_type":"span","marks":[],"text":" for application activity as borrowers with higher rates took the opportunity to refinance,” he said.","_key":"485f47157596"}],"_type":"block","style":"normal","_key":"b6f12a4ed1c4","markDefs":[]},{"children":[{"_type":"span","marks":["strong"],"text":"The bigger picture","_key":"a0699886d1f90"}],"_type":"block","style":"normal","_key":"234045e257e9","markDefs":[]},{"_key":"b26013c70a29","markDefs":[],"children":[{"_type":"span","marks":[],"text":"Falling mortgage rates can be seen as","_key":"63ac784445a30"},{"text":" a good sign for the real estate market","_key":"5cc556226743","_type":"span","marks":["strong"]},{"_type":"span","marks":[],"text":", if not the national economy in general.","_key":"485b890914b4"}],"_type":"block","style":"normal"},{"_key":"57115f133def","markDefs":[],"children":[{"text":"Kan noted that there’s already some evidence that would-be home owners who felt they couldn’t afford to take the plunge in this market are starting to reconsider.","_key":"4a10430a53270","_type":"span","marks":[]}],"_type":"block","style":"normal"},{"children":[{"_type":"span","marks":[],"text":"Purchase applications ","_key":"c34875cef0840"},{"marks":["strong"],"text":"were up 3% over the past week","_key":"1bac342a5c2d","_type":"span"},{"_type":"span","marks":[],"text":", he noted, which is just one metric “indicating that prospective homebuyers are slowly re-entering the market.”","_key":"adc9004c5796"}],"_type":"block","style":"normal","_key":"c6ca9557b390","markDefs":[]}],"_type":"story","_rev":"F5jYzHAFGd6lZaDW4B1xSe"},{"image":{"attribution":"Giphy","asset":{"_type":"sanity.imageAsset","source":{"name":"Real Estate House GIF by Better Things","id":"G5BGdT94DSwVNvZfsg","url":"https://giphy.com/gifs/betterthingsfx-fx-better-things-G5BGdT94DSwVNvZfsg"},"size":7639238,"_id":"image-9ae148bda40596bd1cf64892ff621232177fe53a-420x420-gif","extension":"gif","uploadId":"4nUtItwEsmiVbiImur78eQ5FgwwJMzIQ","_rev":"n5BgMGD1mynxXSenfndXo1","url":"https://cdn.sanity.io/images/8mioycse/v3/9ae148bda40596bd1cf64892ff621232177fe53a-420x420.gif","_createdAt":"2024-08-05T22:13:11Z","metadata":{"dimensions":{"_type":"sanity.imageDimensions","width":420,"aspectRatio":1,"height":420},"isOpaque":true,"blurHash":"e6B:NZ9Q02xm%KtB~UNFIpV]?k9J-p-nX400%J?GR.$*A7IEt8xZ%1","_type":"sanity.imageMetadata","palette":{"darkMuted":{"title":"#fff","population":5,"background":"#494e2f","_type":"sanity.imagePaletteSwatch","foreground":"#fff"},"muted":{"title":"#fff","population":0.03,"background":"#a47c5b","_type":"sanity.imagePaletteSwatch","foreground":"#fff"},"lightVibrant":{"population":0.1,"background":"#e1df99","_type":"sanity.imagePaletteSwatch","foreground":"#000","title":"#000"},"darkVibrant":{"foreground":"#fff","title":"#fff","population":0.77,"background":"#59540f","_type":"sanity.imagePaletteSwatch"},"lightMuted":{"background":"#bea69c","_type":"sanity.imagePaletteSwatch","foreground":"#000","title":"#fff","population":7.43},"vibrant":{"population":1.12,"background":"#b9b53f","_type":"sanity.imagePaletteSwatch","foreground":"#000","title":"#fff"},"dominant":{"_type":"sanity.imagePaletteSwatch","foreground":"#000","title":"#fff","population":7.43,"background":"#bea69c"},"_type":"sanity.imagePalette"},"hasAlpha":true,"lqip":"data:image/jpeg;base64,/9j/2wBDAAYEBQYFBAYGBQYHBwYIChAKCgkJChQODwwQFxQYGBcUFhYaHSUfGhsjHBYWICwgIyYnKSopGR8tMC0oMCUoKSj/2wBDAQcHBwoIChMKChMoGhYaKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCj/wAARCAAUABQDASIAAhEBAxEB/8QAGAABAAMBAAAAAAAAAAAAAAAAAAQFBwb/xAAiEAABBAICAgMBAAAAAAAAAAABAAIDBAURBhIhMRRBUTL/xAAYAQADAQEAAAAAAAAAAAAAAAACAwQBBf/EAB0RAAICAgMBAAAAAAAAAAAAAAECABEDMgUSITH/2gAMAwEAAhEDEQA/AOOw1AZprpKmSq9Gu6kPdo7U/LcdsRVwLN6qev4/ZKzSjLHEz48bjGZHDcn4Vf5qWzJFXhoRunLGASSDztykyi68jqUQS2u50bpO+j7ARVLI8hG3rNS7P972iUca3rNCCRLMLI/5Htbvxrj2PfxynMY3B74g92j4J0iKbkmZVXqahptJdnj2OdICYfofaIi5Jyvf0wSTP//Z"},"mimeType":"image/gif","sha1hash":"9ae148bda40596bd1cf64892ff621232177fe53a","_updatedAt":"2024-08-05T22:13:11Z","path":"images/8mioycse/v3/9ae148bda40596bd1cf64892ff621232177fe53a-420x420.gif","assetId":"9ae148bda40596bd1cf64892ff621232177fe53a","originalFilename":"52241b56-fbf3-4629-9fc1-efc6b3027ff0.gif"},"crop":{"top":0,"left":0,"bottom":0,"_type":"sanity.imageCrop","right":0},"hotspot":{"height":0.9068627450980393,"_type":"sanity.imageHotspot","width":1,"x":0.5,"y":0.5},"_type":"image"},"_type":"story","publishDate":"2024-08-06","body":[{"children":[{"marks":[],"text":"Mortgage rates and real estate prices have both been climbing in recent years, but those aren’t the only added expenses tied to a ","_key":"259fdd0463120","_type":"span"},{"marks":["870da55cc5c9"],"text":"reduced","_key":"259fdd0463121","_type":"span"},{"text":" number of people moving nationwide.","_key":"259fdd0463122","_type":"span","marks":[]}],"_type":"block","style":"normal","_key":"2d37967cf6fe","markDefs":[{"_type":"link","href":"https://www.businessinsider.com/real-estate-market-moving-trends-insurance-costs-mortgage-rates-housing-2024-8","_key":"870da55cc5c9"}]},{"_type":"block","style":"normal","_key":"bfe5bbef6eed","markDefs":[],"children":[{"_type":"span","marks":["strong"],"text":"A ripple effect","_key":"158a61f2b9ff0"}]},{"children":[{"text":"Bank of America recently released a report showing exactly why so many Americans feel priced out of a new home … as well as the toll this trend is taking on various businesses related to moving.","_key":"88527418fe470","_type":"span","marks":[]}],"_type":"block","style":"normal","_key":"63dca4ac2756","markDefs":[]},{"_key":"5dd0ffabcf99","markDefs":[],"children":[{"marks":[],"text":"First, let’s take a look at the rapid shift over just the past several years:","_key":"1ca90d2fddad0","_type":"span"}],"_type":"block","style":"normal"},{"_key":"63075d5e1394","listItem":"bullet","markDefs":[],"children":[{"_type":"span","marks":[],"text":"In mid-2021, the remote-work boom fueled ","_key":"9548198e27c20"},{"_type":"span","marks":["strong"],"text":"a 32% increase","_key":"e2259def0c8a"},{"_type":"span","marks":[],"text":" in moves.","_key":"8bad983cccd7"}],"level":1,"_type":"block","style":"normal"},{"children":[{"text":"Between 2022 and 2023, the number of moves across cities ","_key":"71a708f137ca0","_type":"span","marks":[]},{"_key":"1e0e6257ca34","_type":"span","marks":["strong"],"text":"fell by 15%"},{"text":".","_key":"ef0926d8c499","_type":"span","marks":[]}],"level":1,"_type":"block","style":"normal","_key":"ddde30c79bc2","listItem":"bullet","markDefs":[]},{"markDefs":[],"children":[{"_type":"span","marks":[],"text":"As of the second quarter of 2024, such moves were","_key":"415e14a11b580"},{"_type":"span","marks":["strong"],"text":" down another 4%","_key":"86c74fc76904"},{"text":".","_key":"abe452d4ffde","_type":"span","marks":[]}],"level":1,"_type":"block","style":"normal","_key":"b613bc7fa565","listItem":"bullet"},{"children":[{"text":"And it’s not just real estate agencies that are feeling the pinch. Movers, furniture retailers, and other businesses with a vested interest in moving are seeing their revenue dwindle amid this ongoing decline.","_key":"0e8bc4a3b0eb0","_type":"span","marks":[]}],"_type":"block","style":"normal","_key":"c587f9eed07a","markDefs":[]},{"style":"normal","_key":"1dd0ad183cce","markDefs":[],"children":[{"marks":[],"text":"Unfortunately, even if mortgage rates do begin to trend downward as many analysts predict, there are several other expensive reasons that people might not automatically start moving again.","_key":"929356cf23740","_type":"span"}],"_type":"block"},{"_type":"block","style":"normal","_key":"e55207f4d96a","markDefs":[],"children":[{"_type":"span","marks":["strong"],"text":"The hidden costs","_key":"8753524c6d710"}]},{"_key":"83de7789989e","markDefs":[],"children":[{"_type":"span","marks":[],"text":"Higher insurance and property tax rates are contributing to the overarching belief among many Americans that they simply can’t afford to move right now.","_key":"f53bb3d5230a0"}],"_type":"block","style":"normal"},{"markDefs":[],"children":[{"_type":"span","marks":[],"text":"Many movers are ","_key":"16410d0be3c00"},{"_type":"span","marks":["strong"],"text":"younger, lower-income renters","_key":"401a2b8401b7"},{"marks":[],"text":" looking for a less expensive place to live rather than those interested in an upgrade.","_key":"45e56753ff5b","_type":"span"}],"_type":"block","style":"normal","_key":"bcb8260bff0e"},{"_key":"31b23559b3bf","markDefs":[],"children":[{"_key":"90e04a3bf5120","_type":"span","marks":[],"text":"The silver lining, if you can call it that, involves prospective movers keeping a laser focus on signs that things are becoming more affordable."}],"_type":"block","style":"normal"},{"_key":"b9f8b65855f2","markDefs":[],"children":[{"_type":"span","marks":[],"text":"According to the Bank of America report: “The spending boost to the economy from house moves is currently being held back, but should these costs dissipate, ","_key":"1feefd43c1620"},{"_type":"span","marks":["strong"],"text":"there could be a solid tailwind ","_key":"6f450fe9117d"},{"_key":"a6fdcc840fcf","_type":"span","marks":[],"text":"to moving-related spending and the industries that supply them.”"}],"_type":"block","style":"normal"}],"title":"Experts Say ‘Hidden Costs’ Are Keeping More Americans Tied To Their Homes","author":{"_ref":"phCNL32Gn","_type":"reference"},"id":"FS1waJu1","summary":"A number of related industries are also feeling the pinch.","category":"economy","slug":"/story/2024/08/experts-say-hidden-costs-are-keeping-more-americans-tied-to-their-homes","_updatedAt":"2024-08-05T22:14:05Z","visibility":"true","_rev":"jKb7l1DVd53q9ZbAq0S3WL","_id":"233e120f-507a-4662-a649-92d960fa0ff5","_createdAt":"2024-08-05T22:14:05Z"},{"_id":"85f66eef-8cb0-4519-8642-cca0a9cba7d6","slug":"/story/2024/07/baby-boomers-are-retiring-in-droves-heres-what-that-means-for-the-economy","id":"urC91L6C","visibility":"true","_type":"story","author":{"_ref":"phCNL32Gn","_type":"reference"},"body":[{"style":"normal","_key":"122ebe6b8371","markDefs":[{"_type":"link","href":"https://finance.yahoo.com/news/retirement-surge-industries-hit-hardest-090810376.html","_key":"42802516d25a"}],"children":[{"text":"While plenty of people work well into their late 60s and beyond, the age of 65 has long been associated with retirement. A ","_key":"ff7dfe69469a0","_type":"span","marks":[]},{"_type":"span","marks":["42802516d25a"],"text":"record","_key":"ff7dfe69469a1"},{"_type":"span","marks":[],"text":" number of Americans (more than 4 million) are reaching that milestone in 2024 and in each of the next three years.","_key":"ff7dfe69469a2"}],"_type":"block"},{"markDefs":[],"children":[{"_type":"span","marks":[],"text":"The ramifications of this expected retirement tsunami will be felt far and wide, with employers forced to pay higher wages to fill open positions and consumer prices likely rising to keep pace with the elevated income.","_key":"ee95d74aef650"}],"_type":"block","style":"normal","_key":"3d84a2c9ebf9"},{"markDefs":[],"children":[{"_type":"span","marks":["strong"],"text":"Hardest hit sectors","_key":"be5596f832ea0"}],"_type":"block","style":"normal","_key":"f955c2f48328"},{"style":"normal","_key":"4d2ffaa62848","markDefs":[],"children":[{"_type":"span","marks":[],"text":"Some industries have an older workforce on average than others, and they will likely be impacted most directly when retirement numbers begin to surge.","_key":"c687baa6c3270"}],"_type":"block"},{"style":"normal","_key":"d62ba2c94fc3","markDefs":[],"children":[{"_type":"span","marks":[],"text":"According to the Department of Labor,","_key":"a0e3634cbce40"},{"_type":"span","marks":["strong"],"text":" more than one-fourth","_key":"0335b2fffe33"},{"_key":"36ef1990fe02","_type":"span","marks":[],"text":" of the workers in several industries are currently 55 years old or older, including:"}],"_type":"block"},{"_type":"block","style":"normal","_key":"ac09bb583fb9","listItem":"bullet","markDefs":[],"children":[{"_type":"span","marks":[],"text":"Wholesale trade","_key":"1fc8742a682f0"}],"level":1},{"markDefs":[],"children":[{"_key":"57b32e7415370","_type":"span","marks":[],"text":"Financial activities"}],"level":1,"_type":"block","style":"normal","_key":"d4897bc015da","listItem":"bullet"},{"level":1,"_type":"block","style":"normal","_key":"01b5b6a017fd","listItem":"bullet","markDefs":[],"children":[{"_type":"span","marks":[],"text":"Public administration","_key":"b3959ab1a42b0"}]},{"level":1,"_type":"block","style":"normal","_key":"9fcb7ee7e2d2","listItem":"bullet","markDefs":[],"children":[{"_type":"span","marks":[],"text":"Manufacturing","_key":"2a18268558060"}]},{"markDefs":[],"children":[{"_type":"span","marks":[],"text":"There’s also a category labeled “other services” that includes jobs from equipment maintenance to funeral services and has ","_key":"13d5a337b9510"},{"marks":["strong"],"text":"a combined 27% share","_key":"1c2e2f9fbc6f","_type":"span"},{"_type":"span","marks":[],"text":" of workers over the age of 55.","_key":"519d48427707"}],"_type":"block","style":"normal","_key":"99004668d365"},{"markDefs":[],"children":[{"marks":["strong"],"text":"Consumer spending","_key":"dbe46cadd8330","_type":"span"}],"_type":"block","style":"normal","_key":"bbe45f8d8867"},{"style":"normal","_key":"4108a8b9e219","markDefs":[],"children":[{"text":"Another important factor likely to be influenced by a wave of retirement involves the amount of money being injected into the economy. Economists note that, as a general rule, ","_key":"9728bb0625e00","_type":"span","marks":[]},{"_type":"span","marks":["strong"],"text":"retirees spend less money ","_key":"c9edc51d5fb5"},{"marks":[],"text":"than they did during their working years — in large part because their income level decreases substantially.","_key":"29baebfd35e4","_type":"span"}],"_type":"block"},{"markDefs":[],"children":[{"text":"That isn’t necessarily great for the GDP, but the reduced demand could help ","_key":"1a6add27f10e0","_type":"span","marks":[]},{"_type":"span","marks":["strong"],"text":"keep consumer prices in check","_key":"cda22e14f698"},{"_type":"span","marks":[],"text":" even if wages do increase.","_key":"2aa9a80f852a"}],"_type":"block","style":"normal","_key":"c24675311e16"},{"style":"normal","_key":"d4879e848e0d","markDefs":[],"children":[{"_type":"span","marks":["strong"],"text":"The bottom line","_key":"b55e5d629bc80"}],"_type":"block"},{"markDefs":[],"children":[{"_key":"cfcbb775f8940","_type":"span","marks":[],"text":"Between 2010 and 2019, the average number of annual retirements was somewhere"},{"_type":"span","marks":["strong"],"text":" just north of 1 million","_key":"afd28546d8c8"},{"_type":"span","marks":[],"text":". This year could see","_key":"e0c4ef0707bb"},{"_type":"span","marks":["strong"],"text":" double that amount","_key":"f7c11d4ba475"},{"marks":[],"text":".","_key":"4bf7c264bddb","_type":"span"}],"_type":"block","style":"normal","_key":"464c603796b9"},{"markDefs":[],"children":[{"_type":"span","marks":[],"text":"With nearly ","_key":"bf1b85ef47780"},{"_type":"span","marks":["strong"],"text":"3 retirees for every unemployed entrant ","_key":"941370d77a01"},{"_type":"span","marks":[],"text":"into the workforce in May, it’s clear that this is an issue that will have a ripple effect for a long time to come.","_key":"494d3a5c7fa4"}],"_type":"block","style":"normal","_key":"0b5414f3c123"}],"summary":"Some industries will feel the impact more acutely than others. ","_rev":"cpQLvEn8KGACoMeOC0A9OT","title":"Baby Boomers Are Retiring In Droves … Here’s What That Means For The Economy","_createdAt":"2024-07-24T20:59:04Z","category":"economy","publishDate":"2024-07-25","_updatedAt":"2024-07-24T20:59:04Z","image":{"asset":{"sha1hash":"db45ae9fbcf6bc539dc4bddb83fc96b4e2e3003f","_id":"image-db45ae9fbcf6bc539dc4bddb83fc96b4e2e3003f-480x280-gif","extension":"gif","uploadId":"9jpKMxf0Bad4QGqTNWHSoXRXIP1TX4pP","_updatedAt":"2024-07-24T20:57:22Z","_rev":"nESv7CbLFZtZSe2ZkQVvO3","_createdAt":"2024-07-24T20:57:22Z","assetId":"db45ae9fbcf6bc539dc4bddb83fc96b4e2e3003f","originalFilename":"c0032d57-7ae8-47c5-aae4-471070ed5449.gif","url":"https://cdn.sanity.io/images/8mioycse/v3/db45ae9fbcf6bc539dc4bddb83fc96b4e2e3003f-480x280.gif","path":"images/8mioycse/v3/db45ae9fbcf6bc539dc4bddb83fc96b4e2e3003f-480x280.gif","mimeType":"image/gif","source":{"name":"Retire Tyra Banks GIF by America's Next Top Model","id":"3oFzlUKgSa42cVFXEs","url":"https://giphy.com/gifs/antmvh1-antm-3oFzlUKgSa42cVFXEs"},"size":1086293,"metadata":{"blurHash":"M47x2Q~W0J0_rVD|M^tSW,%O%ie]Mya2M_","_type":"sanity.imageMetadata","palette":{"dominant":{"background":"#6e769b","_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff","population":3.89},"_type":"sanity.imagePalette","darkMuted":{"background":"#5c3b2c","_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff","population":0.03},"muted":{"population":3.89,"background":"#6e769b","_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff"},"lightVibrant":{"population":0,"background":"#a2b2d7","_type":"sanity.imagePaletteSwatch","foreground":"#000","title":"#fff"},"darkVibrant":{"foreground":"#fff","title":"#fff","population":0.01,"background":"#144c04","_type":"sanity.imagePaletteSwatch"},"lightMuted":{"population":0.05,"background":"#a7abc8","_type":"sanity.imagePaletteSwatch","foreground":"#000","title":"#fff"},"vibrant":{"title":"#fff","population":0.04,"background":"#3c548c","_type":"sanity.imagePaletteSwatch","foreground":"#fff"}},"hasAlpha":true,"lqip":"data:image/jpeg;base64,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","dimensions":{"aspectRatio":1.7142857142857142,"height":280,"_type":"sanity.imageDimensions","width":480},"isOpaque":true},"_type":"sanity.imageAsset"},"crop":{"right":0,"top":0,"left":0,"bottom":0,"_type":"sanity.imageCrop"},"hotspot":{"_type":"sanity.imageHotspot","width":0.8767123287671232,"x":0.5,"y":0.5,"height":1},"_type":"image","attribution":"Giphy"}},{"_id":"78046524-51cd-4dc6-bc94-84ca4af446c2","_createdAt":"2024-07-21T20:44:35Z","image":{"hotspot":{"x":0.5,"y":0.5,"height":1,"_type":"sanity.imageHotspot","width":0.9178082191780821},"_type":"image","attribution":"Giphy","asset":{"_rev":"231KIbzYXdNvWSJEHF17BZ","_type":"sanity.imageAsset","source":{"url":"https://giphy.com/gifs/southpark-south-park-s25e3-5zoV3irQFMWbg9iRpa","name":"Listing Real Estate GIF by South Park","id":"5zoV3irQFMWbg9iRpa"},"uploadId":"5gUBGTJHJp1PS0vUUymkIwdCVNWzct85","mimeType":"image/gif","size":1958347,"extension":"gif","sha1hash":"9a0281e7e308f358207b3865b5adc752c90f7ad1","originalFilename":"43775e01-e94f-4cdb-af77-9ee794bdb74b.gif","metadata":{"isOpaque":true,"blurHash":"MZFPyrxux]bvozPVayR*tSRj*0afo2X8f6","_type":"sanity.imageMetadata","palette":{"_type":"sanity.imagePalette","darkMuted":{"foreground":"#fff","title":"#fff","population":5.96,"background":"#4f352e","_type":"sanity.imagePaletteSwatch"},"muted":{"title":"#fff","population":0.01,"background":"#64ac60","_type":"sanity.imagePaletteSwatch","foreground":"#fff"},"lightVibrant":{"background":"#f49aaf","_type":"sanity.imagePaletteSwatch","foreground":"#000","title":"#fff","population":0.02},"darkVibrant":{"background":"#5b3210","_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff","population":0.19},"lightMuted":{"title":"#000","population":1.83,"background":"#b4d5d1","_type":"sanity.imagePaletteSwatch","foreground":"#000"},"vibrant":{"title":"#fff","population":0.32,"background":"#d72743","_type":"sanity.imagePaletteSwatch","foreground":"#fff"},"dominant":{"title":"#fff","population":5.96,"background":"#4f352e","_type":"sanity.imagePaletteSwatch","foreground":"#fff"}},"hasAlpha":true,"lqip":"data:image/jpeg;base64,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","dimensions":{"_type":"sanity.imageDimensions","width":480,"aspectRatio":1.7777777777777777,"height":270}},"path":"images/8mioycse/v3/9a0281e7e308f358207b3865b5adc752c90f7ad1-480x270.gif","assetId":"9a0281e7e308f358207b3865b5adc752c90f7ad1","_createdAt":"2024-07-21T20:48:20Z","_id":"image-9a0281e7e308f358207b3865b5adc752c90f7ad1-480x270-gif","_updatedAt":"2024-07-21T20:48:20Z","url":"https://cdn.sanity.io/images/8mioycse/v3/9a0281e7e308f358207b3865b5adc752c90f7ad1-480x270.gif"},"crop":{"top":0,"left":0,"bottom":0,"_type":"sanity.imageCrop","right":0}},"body":[{"children":[{"_type":"span","marks":[],"text":"The real estate market is in a prolonged state of uncertainty as both property values and interest rates remain high without any definitive evidence about when the trends will be reversing.","_key":"be62ec7990050"}],"_type":"block","style":"normal","_key":"f5bb9a0a8ac4","markDefs":[]},{"markDefs":[{"_type":"link","href":"https://ca.finance.yahoo.com/news/home-valuations-zillow-redfin-chase-115100705.html","_key":"04f5a422c4e3"}],"children":[{"_type":"span","marks":[],"text":"Another source of ","_key":"217d50e653320"},{"_type":"span","marks":["04f5a422c4e3"],"text":"confusion","_key":"217d50e653321"},{"_type":"span","marks":[],"text":" comes from the various home valuation tools that never quite seem to be in agreement.","_key":"217d50e653322"}],"_type":"block","style":"normal","_key":"013fefacba25"},{"_type":"block","style":"normal","_key":"180fa46330d7","markDefs":[],"children":[{"_key":"b21909f04dd40","_type":"span","marks":["strong"],"text":"Identifying the main players"}]},{"_type":"block","style":"normal","_key":"3271590d2d49","markDefs":[],"children":[{"_type":"span","marks":[],"text":"Some of the most popular platforms used to determine a rough estimate of a home’s value include those launched by ","_key":"9b0d8a8203650"},{"_key":"9f8324f285a6","_type":"span","marks":["strong"],"text":"Chase, Zillow, and Redfin"},{"_type":"span","marks":[],"text":".","_key":"6148c64f216c"}]},{"_type":"block","style":"normal","_key":"7a4a56f0bbad","markDefs":[],"children":[{"_type":"span","marks":[],"text":"On the surface, it might appear that all three use practically the same method of coming up with an estimated value. Each one factors in information provided by users as well as figures about the property that are publicly available.","_key":"bab70dbbb6890"}]},{"_type":"block","style":"normal","_key":"c4432dccb64d","markDefs":[],"children":[{"marks":[],"text":"But if you’ve used more than one in hopes of determining how much your home is worth, the process likely resulted in vastly different numbers.","_key":"7e6e3c7ff8300","_type":"span"}]},{"children":[{"_key":"4eebf501374b0","_type":"span","marks":[],"text":"Like other online platforms, internal algorithms and other"},{"_type":"span","marks":["strong"],"text":" tightly guarded company secrets","_key":"fd8aa2a85a7f"},{"marks":[],"text":" contribute to these discrepancies … so it all adds up to little more than a guessing game for prospective sellers and buyers.","_key":"3782f6c79cff","_type":"span"}],"_type":"block","style":"normal","_key":"4dfe370e61f6","markDefs":[]},{"children":[{"_type":"span","marks":["strong"],"text":"Figuring it out yourself","_key":"af323ac05b4a0"}],"_type":"block","style":"normal","_key":"97bc42e3747b","markDefs":[]},{"markDefs":[],"children":[{"marks":[],"text":"As the owners of one Chicago home recently found out, the difference between home valuation tools can be","_key":"e86b644f6aaf0","_type":"span"},{"_key":"2469dcd0ea63","_type":"span","marks":["strong"],"text":" more than $120,000"},{"_type":"span","marks":[],"text":". So what are you supposed to do?","_key":"f4611ab777d7"}],"_type":"block","style":"normal","_key":"322c26ff963a"},{"_key":"02348e9fd2e1","markDefs":[],"children":[{"_key":"29e23df65cbb0","_type":"span","marks":[],"text":"If you’re selling a home, try to make smart upgrades and improvements that will add even more value than the money you’ll spend completing them. And if you’re looking for a home, rely on a professional real estate agent as well as a combination of estimates you can find online."}],"_type":"block","style":"normal"},{"markDefs":[],"children":[{"_type":"span","marks":[],"text":"There is one tool that seems to be","_key":"b19b32b5f6080"},{"_type":"span","marks":["strong"],"text":" more accurate than the rest","_key":"92dd95aa1d5f"},{"marks":[],"text":". That’s because Realtor.com doesn’t only rely on its own model, but receives input from a trio of partnering companies to create a comprehensive estimate.","_key":"b4d0fe901448","_type":"span"}],"_type":"block","style":"normal","_key":"e26765aaf221"}],"_updatedAt":"2024-07-21T20:49:36Z","_rev":"blVkP8UyhdNAdJUD0IBDdt","slug":"/story/2024/07/trying-to-determine-the-value-of-your-home-can-create-more-questions-than-answers","_type":"story","category":"economy","author":{"_ref":"phCNL32Gn","_type":"reference"},"publishDate":"2024-07-22","id":"QhYohc6j","title":"Trying To Determine The Value Of Your Home Can Create More Questions Than Answers","visibility":"true","summary":"It's another source of confusion in a complex real estate market. "},{"body":[{"_key":"06319e3fcd13","markDefs":[],"children":[{"marks":[],"text":"Like many other tech startup companies, Airbnb began with a model aimed at disrupting an existing industry … in this case, hotels.","_key":"7c62c438a62d0","_type":"span"}],"_type":"block","style":"normal"},{"style":"normal","_key":"4f6bf89b1388","markDefs":[{"_type":"link","href":"https://www.bbc.com/travel/article/20240701-what-does-a-world-without-airbnb-look-like","_key":"b4a8b22c36f3"}],"children":[{"_key":"c69cb0e7b0ce0","_type":"span","marks":[],"text":"But many guests have pushed back against things like hidden fees and laborious check-out duties. Then there’s arguably the most important "},{"_type":"span","marks":["b4a8b22c36f3"],"text":"critique","_key":"c69cb0e7b0ce1"},{"_type":"span","marks":[],"text":" of all: the role Airbnb and other short-term rental platforms have played in exacerbating","_key":"c69cb0e7b0ce2"},{"_key":"83f59178c7e4","_type":"span","marks":["strong"],"text":" a global housing crisis"},{"_type":"span","marks":[],"text":".","_key":"a13e7ea7e17c"}],"_type":"block"},{"_type":"block","style":"normal","_key":"79918dba690d","markDefs":[],"children":[{"_type":"span","marks":["strong"],"text":"Cities push back","_key":"4baaba684bdd0"}]},{"_type":"block","style":"normal","_key":"1c3fb51238aa","markDefs":[],"children":[{"_type":"span","marks":[],"text":"We’ve already reported on efforts in New York City to dramatically scale back the number of short-term rentals available in that city, but the Big Apple isn’t alone. Barcelona, Spain, is on track to implement a complete ban within a few years and Germany's capital city of","_key":"f5b7a3ee29890"},{"_type":"span","marks":["strong"],"text":" Berlin led the way","_key":"a25137924c71"},{"text":" with a ban dating back a decade (although such rentals were subsequently permitted under certain circumstances).","_key":"17859ae0b1c7","_type":"span","marks":[]}]},{"markDefs":[],"children":[{"_key":"91dd08e193bf0","_type":"span","marks":[],"text":"A number of municipalities in California have passed their own ordinances cracking down on short-term rentals, and the effort"},{"_type":"span","marks":["strong"],"text":" only seems to be gaining steam","_key":"cab87b8e72bf"},{"marks":[],"text":" around the world.","_key":"b853575268a1","_type":"span"}],"_type":"block","style":"normal","_key":"ee0ad860dafc"},{"children":[{"_key":"ea2736a435140","_type":"span","marks":["strong"],"text":"What it all means"}],"_type":"block","style":"normal","_key":"6793084a43eb","markDefs":[]},{"markDefs":[],"children":[{"marks":[],"text":"At its root, these new restrictions stand to deliver quite a blow to Airbnb. While citywide bans affect all short-term rentals, this one company dominates the market with ","_key":"cb751dec45820","_type":"span"},{"_type":"span","marks":["strong"],"text":"more than 50%","_key":"be4588f4e910"},{"_type":"span","marks":[],"text":" of all such online rentals booked on its platform.","_key":"6a3e8c552a26"}],"_type":"block","style":"normal","_key":"81ded872329a"},{"style":"normal","_key":"d580fb818abe","markDefs":[],"children":[{"_type":"span","marks":[],"text":"And plenty of individuals are likely to oppose this trend — from homeowners making extra cash by renting out their property to travelers who prefer staying in a home or condo to renting a traditional hotel room.","_key":"89a3f3bab86a0"}],"_type":"block"},{"_type":"block","style":"normal","_key":"776ed6d78c29","markDefs":[],"children":[{"_type":"span","marks":[],"text":"It could also ","_key":"9781bbc7cdc50"},{"_key":"b5328f66cee5","_type":"span","marks":["strong"],"text":"cause hotel prices to increase"},{"_type":"span","marks":[],"text":", as they have in New York City over the past year.","_key":"6a0beaad6033"}]},{"markDefs":[],"children":[{"marks":[],"text":"But proponents of these regulations say it’s the best way to return many properties that have been transformed into short-term rentals to residential properties, thus increasing affordable housing opportunities and preserving the authentic local feel of neighborhoods around the globe.","_key":"06a48deef8ae0","_type":"span"}],"_type":"block","style":"normal","_key":"6abca9246bb2"}],"author":{"_ref":"phCNL32Gn","_type":"reference"},"_createdAt":"2024-07-08T20:47:05Z","summary":"It'll probably be tough for some, but many more will likely benefit. ","publishDate":"2024-07-09","image":{"_type":"image","attribution":"Giphy","asset":{"uploadId":"PYTET2KPmRhkzZuN1WEyA3xORFGE4ddm","sha1hash":"0e3b85a09140cccb14bbd671fa98e7d3e469e9ce","url":"https://cdn.sanity.io/images/8mioycse/v3/0e3b85a09140cccb14bbd671fa98e7d3e469e9ce-480x269.gif","size":4146952,"assetId":"0e3b85a09140cccb14bbd671fa98e7d3e469e9ce","_rev":"Q1OSDv7ENubrvujoM8aJDe","mimeType":"image/gif","_createdAt":"2024-07-09T01:21:35Z","_updatedAt":"2024-07-09T01:21:35Z","extension":"gif","originalFilename":"ezgif-1-e38d9644c2.gif","metadata":{"dimensions":{"_type":"sanity.imageDimensions","width":480,"aspectRatio":1.7843866171003717,"height":269},"isOpaque":true,"blurHash":"MQGkEs9btO=xRh~MD,-.$ijY=zN1t2nmWU","_type":"sanity.imageMetadata","palette":{"vibrant":{"foreground":"#000","title":"#fff","population":5.24,"background":"#e29f17","_type":"sanity.imagePaletteSwatch"},"dominant":{"foreground":"#000","title":"#fff","population":5.24,"background":"#e29f17","_type":"sanity.imagePaletteSwatch"},"_type":"sanity.imagePalette","darkMuted":{"background":"#5f2c60","_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff","population":4.06},"muted":{"background":"#81a34f","_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff","population":3.11},"lightVibrant":{"_type":"sanity.imagePaletteSwatch","foreground":"#000","title":"#000","population":3.83,"background":"#f1e060"},"darkVibrant":{"foreground":"#fff","title":"#fff","population":4.43,"background":"#6f2d0c","_type":"sanity.imagePaletteSwatch"},"lightMuted":{"foreground":"#000","title":"#fff","population":0.83,"background":"#cdb2bd","_type":"sanity.imagePaletteSwatch"}},"hasAlpha":true,"lqip":"data:image/jpeg;base64,/9j/2wBDAAYEBQYFBAYGBQYHBwYIChAKCgkJChQODwwQFxQYGBcUFhYaHSUfGhsjHBYWICwgIyYnKSopGR8tMC0oMCUoKSj/2wBDAQcHBwoIChMKChMoGhYaKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCj/wAARCAALABQDASIAAhEBAxEB/8QAFwAAAwEAAAAAAAAAAAAAAAAAAAUGB//EACMQAAIBAwQBBQAAAAAAAAAAAAECAwAEEgUGESFRByIzQXH/xAAVAQEBAAAAAAAAAAAAAAAAAAAFBP/EABwRAAICAwEBAAAAAAAAAAAAAAECAAMEESEFEv/aAAwDAQACEQMRAD8AiNZ1Kx1GXPEIM2OKNyT4p3sncFlt+KaW4hmIyyX21N7atoXQu8allbo+Kpbe3hnFyJo1cBeQD+UY/mBwELc5FkFlVhUts9juL1u063Lxtp9zJwx4PVFY3KAbifofIfqijbcHHDkfMpGOCN7n/9k="},"_type":"sanity.imageAsset","path":"images/8mioycse/v3/0e3b85a09140cccb14bbd671fa98e7d3e469e9ce-480x269.gif","_id":"image-0e3b85a09140cccb14bbd671fa98e7d3e469e9ce-480x269-gif"}},"_type":"story","id":"GA5mPlci","_updatedAt":"2024-07-09T01:21:37Z","_id":"fc9b299b-adc8-4d6d-90f0-49e47ad77358","slug":"/story/2024/07/more-cities-are-banning-airbnb-heres-what-it-means-for-locals-and-tourists","visibility":"true","title":"More Cities Are Banning Airbnb — Here’s What It Means For Locals And Tourists","_rev":"Q1OSDv7ENubrvujoM8aJM1","category":"economy"},{"visibility":"true","title":"Exploring The Pros And Cons Of Living With Your Parents During College","category":"economy","_createdAt":"2024-07-02T21:04:57Z","_updatedAt":"2024-07-02T21:04:57Z","body":[{"children":[{"_type":"span","marks":[],"text":"After 18 years or so under their parents’ roof, many young adults are anxious to head out into the real world, often living on their own for the first time in a college dorm or nearby apartment. But with the cost of housing and just about everything else steadily increasing, this rite of passage ","_key":"e3fc3c6d4e130"},{"_type":"span","marks":["strong"],"text":"doesn’t always make economic sense","_key":"eddde88b613a"},{"_type":"span","marks":[],"text":" — and a growing number of college students are ","_key":"b850d442f1d6"},{"_type":"span","marks":["625a13e96899"],"text":"opting","_key":"e3fc3c6d4e131"},{"_type":"span","marks":[],"text":" to postpone independence for a while.","_key":"e3fc3c6d4e132"}],"_type":"block","style":"normal","_key":"d3767b19ae0e","markDefs":[{"_type":"link","href":"https://www.businessinsider.com/adult-daughter-lives-at-home-pros-cons-2024-7","_key":"625a13e96899"}]},{"markDefs":[],"children":[{"_type":"span","marks":["strong"],"text":"One father’s story","_key":"c418c1a794e10"}],"_type":"block","style":"normal","_key":"f5c7b3c7daa2"},{"markDefs":[],"children":[{"_type":"span","marks":[],"text":"Chicagoan Noah Berlatsky figured his daughter would leave the nest when she enrolled in college, but instead he and his wife continue to live with the now-20-year-old … and with some ground rules in place, things seem to be working out pretty well for everyone.","_key":"f09ad6fae3470"}],"_type":"block","style":"normal","_key":"d866456f850e"},{"_key":"6248bb82d133","markDefs":[],"children":[{"_key":"539f3d22a3380","_type":"span","marks":[],"text":"Among the most notable benefits to the arrangement is the savings. And it’s not just the college student who’s getting a big break on expenses."}],"_type":"block","style":"normal"},{"markDefs":[],"children":[{"_type":"span","marks":[],"text":"Even though Berlatsky said his daughter doesn’t pay rent, there are other ways it works out financially for the parents.","_key":"b548df6ebc650"}],"_type":"block","style":"normal","_key":"b17d55e0ad49"},{"children":[{"_type":"span","marks":[],"text":"“We’re also","_key":"279013c4d55a0"},{"_type":"span","marks":["strong"],"text":" saving a lot of money","_key":"fde5b8a2393e"},{"_type":"span","marks":[],"text":" because she’s going to a state school nearby rather than a private college farther off,” he explained. “That means lower tuition, not much in the way of travel expenses, and (god willing) no college debt.”","_key":"cb6607abbd90"}],"_type":"block","style":"normal","_key":"02841ba452e5","markDefs":[]},{"markDefs":[],"children":[{"marks":[],"text":"Then there’s the fact that he and his wife get to see their daughter regularly, even though she stays busy with friends and classes.","_key":"2bb9eab30bec0","_type":"span"}],"_type":"block","style":"normal","_key":"983819ba55c2"},{"children":[{"_type":"span","marks":["strong"],"text":"Things have changed","_key":"7571f7f6b18d0"}],"_type":"block","style":"normal","_key":"11fced6b6c51","markDefs":[]},{"_key":"9ae6c0569075","markDefs":[],"children":[{"_key":"37c9d51fbe600","_type":"span","marks":[],"text":"Berlatsky admitted that his parents wouldn’t have been open to such an arrangement when he was heading off to college decades ago. But economic issues and a new generational perspective have made situations like his far more common."}],"_type":"block","style":"normal"},{"children":[{"_type":"span","marks":[],"text":"In fact, a census report released last year showed that ","_key":"da64cc62e1220"},{"_type":"span","marks":["strong"],"text":"more than half","_key":"9bd583f4c284"},{"_key":"ef686453c217","_type":"span","marks":[],"text":" of Americans between the ages of 18 and 24 lived with their parents."}],"_type":"block","style":"normal","_key":"572cd26bb8c5","markDefs":[]}],"author":{"_ref":"phCNL32Gn","_type":"reference"},"summary":"There could be financial benefits for everyone involved.","slug":"/story/2024/07/exploring-the-pros-and-cons-of-living-with-your-parents-during-college","_rev":"0sm0cIPrrxmscoBjhZT9vq","publishDate":"2024-07-03","image":{"_type":"image","attribution":"Giphy","asset":{"assetId":"18e324c785acd41798d42ba776456664d153421a","extension":"gif","metadata":{"_type":"sanity.imageMetadata","palette":{"lightMuted":{"title":"#fff","population":3.72,"background":"#bb9f9d","_type":"sanity.imagePaletteSwatch","foreground":"#000"},"vibrant":{"title":"#fff","population":1.3,"background":"#cd2c1e","_type":"sanity.imagePaletteSwatch","foreground":"#fff"},"dominant":{"population":8.23,"background":"#62240e","_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff"},"_type":"sanity.imagePalette","darkMuted":{"background":"#6c4737","_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff","population":1.43},"muted":{"background":"#9e7550","_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff","population":0.34},"lightVibrant":{"background":"#f5cd9c","_type":"sanity.imagePaletteSwatch","foreground":"#000","title":"#000","population":0.04},"darkVibrant":{"background":"#62240e","_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff","population":8.23}},"hasAlpha":true,"lqip":"data:image/jpeg;base64,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","dimensions":{"_type":"sanity.imageDimensions","width":480,"aspectRatio":1.7777777777777777,"height":270},"isOpaque":true,"blurHash":"M7C}z#0KRk0#J%~U4oyEw@xZK+D$xtxHX9"},"_rev":"tpoEXXEq6aeci0dTPZ0qrG","mimeType":"image/gif","url":"https://cdn.sanity.io/images/8mioycse/v3/18e324c785acd41798d42ba776456664d153421a-480x270.gif","path":"images/8mioycse/v3/18e324c785acd41798d42ba776456664d153421a-480x270.gif","size":7489446,"_id":"image-18e324c785acd41798d42ba776456664d153421a-480x270-gif","_updatedAt":"2024-07-02T21:03:59Z","_type":"sanity.imageAsset","originalFilename":"1446074f-6af3-4792-a753-5262f895c50e.gif","uploadId":"gpQRTNRYDU2nZoamCPiUrrF9x38eLefH","sha1hash":"18e324c785acd41798d42ba776456664d153421a","source":{"name":"90 Day Fiance GIF by TLC","id":"ieb9e0soT2XFrNTP1F","url":"https://giphy.com/gifs/tlc-network-tlc-90-day-fiance-ieb9e0soT2XFrNTP1F"},"_createdAt":"2024-07-02T21:03:59Z"},"crop":{"bottom":0,"_type":"sanity.imageCrop","right":0,"top":0,"left":0},"hotspot":{"width":0.934931506849315,"x":0.5,"y":0.5,"height":1,"_type":"sanity.imageHotspot"}},"id":"75ICzisG","_type":"story","_id":"184df7fb-de91-4503-b8c3-ecd8b7974b33"},{"id":"yP9Pw5da","category":"economy","_id":"382d85d0-80b6-4c01-b08a-a514e1994cf4","slug":"/story/2024/07/small-businesses-the-less-obvious-casualties-of-skyrocketing-rent-prices","_type":"story","_rev":"chQWOmp2AIkRT8OQXQ6vLk","summary":"It's not just housing costs that are going through the roof these days.","_createdAt":"2024-06-30T20:27:06Z","body":[{"markDefs":[{"_type":"link","href":"https://www.newsweek.com/small-businesses-crisis-rising-numbers-unable-pay-rent-1895480","_key":"ae93dec1ccdf"}],"children":[{"_type":"span","marks":[],"text":"In this uncertain economy, you probably know someone who is struggling to afford the cost of rent … or you might even be in that situation yourself. But it’s not just residential property that has seen a huge ","_key":"ff480d529ce50"},{"_type":"span","marks":["ae93dec1ccdf"],"text":"uptick","_key":"ff480d529ce51"},{"_type":"span","marks":[],"text":" in rental prices over the past several years.","_key":"ff480d529ce52"}],"_type":"block","style":"normal","_key":"43e155e70df0"},{"markDefs":[],"children":[{"_type":"span","marks":["strong"],"text":"Bad for business","_key":"cd06e5bba2560"}],"_type":"block","style":"normal","_key":"b7817b43a7ca"},{"markDefs":[],"children":[{"marks":[],"text":"Commercial rentals have experienced staggering inflation recently, essentially pricing out many of the most vulnerable small business owners across the nation. And with massive corporations like Amazon capable of absorbing these higher prices, it’s becoming harder than ever for entrepreneurs to remain competitive.","_key":"519d8842d4d30","_type":"span"}],"_type":"block","style":"normal","_key":"57af5b0afc7d"},{"_key":"dfcbbfc311e8","markDefs":[],"children":[{"_type":"span","marks":[],"text":"A new report published by the business networking organization Alignable put the reality of this trend into sharp focus.","_key":"4ee9688c33890"}],"_type":"block","style":"normal"},{"_key":"6f0e5dff4fcd","markDefs":[],"children":[{"_key":"87fa61d0a7310","_type":"span","marks":[],"text":"Here are some particularly troubling statistics:"}],"_type":"block","style":"normal"},{"style":"normal","_key":"ae9536e6855d","listItem":"bullet","markDefs":[],"children":[{"_type":"span","marks":["strong"],"text":"43% of all U.S. small businesses","_key":"b9701a56cda10"},{"text":" weren’t able to pay their April rent in full.","_key":"64cc17d96b36","_type":"span","marks":[]}],"level":1,"_type":"block"},{"style":"normal","_key":"c8d065e57905","listItem":"bullet","markDefs":[],"children":[{"_type":"span","marks":["strong"],"text":"More than one half","_key":"251df0e9157a0"},{"_type":"span","marks":[],"text":" of restaurant owners couldn’t afford to pay rent that month.","_key":"f864652f472a"}],"level":1,"_type":"block"},{"level":1,"_type":"block","style":"normal","_key":"cb6e00b05f4e","listItem":"bullet","markDefs":[],"children":[{"text":"Fewer than 1 in 3","_key":"8e0789100b460","_type":"span","marks":["strong"]},{"marks":[],"text":" small business owners are making as much as before COVID.","_key":"5dcfa9cbea95","_type":"span"}]},{"markDefs":[],"children":[{"_type":"span","marks":[],"text":"And with 54% of those surveyed saying rent was higher than it was just six months earlier, it’s clear that this problem isn’t one that will be resolved anytime soon.","_key":"5cff9cff609a0"}],"_type":"block","style":"normal","_key":"1ebabd18dedb"},{"children":[{"_type":"span","marks":["strong"],"text":"“Very worrisome”","_key":"8ef42164bca20"}],"_type":"block","style":"normal","_key":"10eefa56a897","markDefs":[]},{"markDefs":[],"children":[{"marks":[],"text":"Not only are small businesses vital components of communities nationwide, they’re also pivotal sources of revenue for the nation as a whole. According to the Chamber of Commerce, nearly half of the country’s workers are employed by a small business, and this sector of the economy ","_key":"9e0a6e9ae60f0","_type":"span"},{"_type":"span","marks":["strong"],"text":"contributes a whopping 43.5%","_key":"1ad367a84ad8"},{"text":" to the U.S. gross domestic product.","_key":"b66250d87d39","_type":"span","marks":[]}],"_type":"block","style":"normal","_key":"00de4a8d80b3"},{"style":"normal","_key":"51c6c88a02a0","markDefs":[],"children":[{"marks":[],"text":"That’s why Alignable","_key":"63abd2ae64da0","_type":"span"},{"_type":"span","marks":["strong"],"text":" refused to sugar-coat its findings","_key":"d67434e61931"},{"_type":"span","marks":[],"text":", describing the situation as “very worrisome.”","_key":"017d222ad10f"}],"_type":"block"},{"children":[{"_type":"span","marks":[],"text":"And things are even worse in some states. More than half of small business owners in Texas were unable to pay their full rent in April, followed closely by Massachusetts and California.","_key":"8ca4158522220"}],"_type":"block","style":"normal","_key":"eb68ecbd04e6","markDefs":[]}],"visibility":"true","publishDate":"2024-07-01","_updatedAt":"2024-06-30T20:27:06Z","author":{"_ref":"phCNL32Gn","_type":"reference"},"title":"Small Businesses: The Less Obvious Casualties Of Skyrocketing Rent Prices","image":{"hotspot":{"height":1,"_type":"sanity.imageHotspot","width":0.924657534246575,"x":0.5,"y":0.5},"_type":"image","attribution":"Giphy","asset":{"_updatedAt":"2024-06-30T20:26:09Z","metadata":{"hasAlpha":true,"lqip":"data:image/jpeg;base64,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","dimensions":{"_type":"sanity.imageDimensions","width":500,"aspectRatio":2,"height":250},"isOpaque":true,"blurHash":"MEHog=e-yGp056QpxuMvR%MzT|jYMxV@%2","_type":"sanity.imageMetadata","palette":{"lightMuted":{"_type":"sanity.imagePaletteSwatch","foreground":"#000","title":"#fff","population":6.08,"background":"#aac8d5"},"vibrant":{"background":"#e7772e","_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff","population":1.7},"dominant":{"foreground":"#fff","title":"#fff","population":7.82,"background":"#6c763d","_type":"sanity.imagePaletteSwatch"},"_type":"sanity.imagePalette","darkMuted":{"title":"#fff","population":7.82,"background":"#6c763d","_type":"sanity.imagePaletteSwatch","foreground":"#fff"},"muted":{"title":"#fff","population":7.36,"background":"#7a8962","_type":"sanity.imagePaletteSwatch","foreground":"#fff"},"lightVibrant":{"background":"#e1a47d","_type":"sanity.imagePaletteSwatch","foreground":"#000","title":"#fff","population":2.52},"darkVibrant":{"title":"#fff","population":0.01,"background":"#3c6c10","_type":"sanity.imagePaletteSwatch","foreground":"#fff"}}},"mimeType":"image/gif","path":"images/8mioycse/v3/22b8df3a496271c88af8e4705bbde33da44865eb-500x250.gif","_createdAt":"2024-06-30T20:26:09Z","size":408085,"assetId":"22b8df3a496271c88af8e4705bbde33da44865eb","_id":"image-22b8df3a496271c88af8e4705bbde33da44865eb-500x250-gif","extension":"gif","uploadId":"0QJwz7YvqD7V82MB5lGRrLG92EJKrtXS","_rev":"UbaWB606a3qLMH45vP5o4R","url":"https://cdn.sanity.io/images/8mioycse/v3/22b8df3a496271c88af8e4705bbde33da44865eb-500x250.gif","_type":"sanity.imageAsset","source":{"name":"myth GIF","id":"OSAAoiztopfc4","url":"https://giphy.com/gifs/myth-OSAAoiztopfc4"},"sha1hash":"22b8df3a496271c88af8e4705bbde33da44865eb","originalFilename":"c77cfd96-55f1-4647-b8d2-c3c55141e5f0.gif"},"crop":{"bottom":0,"_type":"sanity.imageCrop","right":0,"top":0,"left":0}}},{"_rev":"8frCD9PE4At6CbzYtKZpjO","image":{"_type":"image","attribution":"Giphy","asset":{"_createdAt":"2024-06-26T21:06:02Z","_id":"image-93bd5d3d981a93363e4faa4bf053298874dd529b-480x360-gif","extension":"gif","mimeType":"image/gif","assetId":"93bd5d3d981a93363e4faa4bf053298874dd529b","path":"images/8mioycse/v3/93bd5d3d981a93363e4faa4bf053298874dd529b-480x360.gif","size":2024858,"metadata":{"palette":{"_type":"sanity.imagePalette","darkMuted":{"population":7.15,"background":"#444444","_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff"},"muted":{"foreground":"#fff","title":"#fff","population":5.83,"background":"#848484","_type":"sanity.imagePaletteSwatch"},"lightVibrant":{"population":0,"background":"#bcbcbc","_type":"sanity.imagePaletteSwatch","foreground":"#000","title":"#fff"},"darkVibrant":{"background":"#424242","_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff","population":0},"lightMuted":{"background":"#bcbcbc","_type":"sanity.imagePaletteSwatch","foreground":"#000","title":"#fff","population":0.53},"vibrant":{"foreground":"#fff","title":"#fff","population":0,"background":"#7f7f7f","_type":"sanity.imagePaletteSwatch"},"dominant":{"_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff","population":7.15,"background":"#444444"}},"hasAlpha":true,"lqip":"data:image/jpeg;base64,/9j/2wBDAAYEBQYFBAYGBQYHBwYIChAKCgkJChQODwwQFxQYGBcUFhYaHSUfGhsjHBYWICwgIyYnKSopGR8tMC0oMCUoKSj/2wBDAQcHBwoIChMKChMoGhYaKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCj/wAARCAAPABQDASIAAhEBAxEB/8QAGAAAAwEBAAAAAAAAAAAAAAAAAAQGBQf/xAAhEAACAQQCAgMAAAAAAAAAAAABAgMABAURITEGEhMUIv/EABQBAQAAAAAAAAAAAAAAAAAAAAD/xAAUEQEAAAAAAAAAAAAAAAAAAAAA/9oADAMBAAIRAxEAPwCT8Vyszki6haNuFXfZBNVWdK2d9EIiVjKg+pPO65rkVuLfJoUlULvjvunp7q/zEiK0o+aLt9nqg2/rwXLNLK36JNFLxh4Y0R5FLa5IBooP/9k=","dimensions":{"width":480,"aspectRatio":1.3333333333333333,"height":360,"_type":"sanity.imageDimensions"},"isOpaque":true,"blurHash":"V7Ci~;M{00IU_3~qt79FM{M{t7of-;%M9FIUt7oft7xu","_type":"sanity.imageMetadata"},"_rev":"4bY4K86XYSOSCQz2RF2GZn","_type":"sanity.imageAsset","source":{"id":"Ei7q9N1IOpb8lQgCek","url":"https://giphy.com/gifs/paramountplus-paramount-i-love-lucy-plus-Ei7q9N1IOpb8lQgCek","name":"I Love Lucy Wtf GIF by Paramount+"},"originalFilename":"1c672a08-3315-4d3c-8fa5-d77851494b31.gif","_updatedAt":"2024-06-26T21:06:02Z","uploadId":"eH3jDkGfRrjm5b7bMZoaS7mEpLRRSuyq","sha1hash":"93bd5d3d981a93363e4faa4bf053298874dd529b","url":"https://cdn.sanity.io/images/8mioycse/v3/93bd5d3d981a93363e4faa4bf053298874dd529b-480x360.gif"}},"_createdAt":"2024-06-26T21:06:55Z","_updatedAt":"2024-06-26T22:34:51Z","author":{"_ref":"phCNL32Gn","_type":"reference"},"_type":"story","category":"economy","body":[{"_type":"block","style":"normal","_key":"f33c5ebc0fb0","markDefs":[{"_type":"link","href":"https://www.nbcnews.com/business/economy/funflation-effect-americans-are-spending-travel-entertainment-rcna159025","_key":"a5fe5dbaacc6"}],"children":[{"_type":"span","marks":[],"text":"If you’ve been to a supermarket (or hardware store, car dealership, etc.) lately, you’re keenly aware of the impact inflation has had on prices far and wide. But paradoxically, all debt inflation has caused hasn’t curbed our collective ","_key":"4ecd230314380"},{"text":"desire","_key":"4ecd230314381","_type":"span","marks":["a5fe5dbaacc6"]},{"marks":[],"text":" to splurge.","_key":"4ecd230314382","_type":"span"}]},{"markDefs":[],"children":[{"marks":["strong"],"text":"Coining a new term","_key":"a232dac532c20","_type":"span"}],"_type":"block","style":"normal","_key":"8bb084b3770e"},{"children":[{"_type":"span","marks":[],"text":"The pandemic led to a host of new terms to describe human behavior, from “doomscrolling” to “quiet quitting.”","_key":"875250868d200"}],"_type":"block","style":"normal","_key":"5bef130b64e6","markDefs":[]},{"_key":"17bf96f54421","markDefs":[],"children":[{"text":"And now we have one to describe how the lockdowns inflation influenced the way we are spending our money.","_key":"4fa8493945170","_type":"span","marks":[]}],"_type":"block","style":"normal"},{"_key":"ffcb245ae87c","markDefs":[],"children":[{"_type":"span","marks":[],"text":"According to credit analyst Matt Schulz, the emergence of “funflation” as a buzzword stems from the fact that so many people are ","_key":"899bbe1e531c0"},{"text":"shelling out big bucks","_key":"145ac44f9b46","_type":"span","marks":["strong"]},{"_type":"span","marks":[],"text":" for luxury trips, expensive concerts, and more … even as they go further into debt as a result.","_key":"073c1dd1ca98"}],"_type":"block","style":"normal"},{"children":[{"_type":"span","marks":[],"text":"“It’s hard to overstate the impact of the pandemic,” he said. “It changed the way so many people view their spending, and the result is that people are ","_key":"362a13dae8f10"},{"_type":"span","marks":["strong"],"text":"more focused on the ‘right now’","_key":"d4c50afc50e0"},{"marks":[],"text":" than thinking about 40 years from now.”","_key":"bad35d053b10","_type":"span"}],"_type":"block","style":"normal","_key":"2ae4e24113a2","markDefs":[]},{"markDefs":[],"children":[{"_type":"span","marks":[],"text":"Here’s how it’s all playing out in the marketplace:","_key":"ae5dccc2098d0"}],"_type":"block","style":"normal","_key":"6befd566c9b2"},{"level":1,"_type":"block","style":"normal","_key":"4b0fec08cc5d","listItem":"bullet","markDefs":[],"children":[{"_key":"5dea1c547c310","_type":"span","marks":[],"text":"More than one-fourth of adults said they’d take on more debt this year "},{"_type":"span","marks":["strong"],"text":"to travel","_key":"f0a22694a8b7"},{"text":".","_key":"2854202cb830","_type":"span","marks":[]}]},{"style":"normal","_key":"0fb15ec59bcf","listItem":"bullet","markDefs":[],"children":[{"_type":"span","marks":[],"text":"About 14% told pollsters their ","_key":"985cb0b4c73d0"},{"_key":"ffb784cf40b9","_type":"span","marks":["strong"],"text":"desire to eat out"},{"_type":"span","marks":[],"text":" would result in additional debt.","_key":"1bd12f0cef9e"}],"level":1,"_type":"block"},{"style":"normal","_key":"b1f0a65f202f","listItem":"bullet","markDefs":[],"children":[{"marks":[],"text":"More than 1 in 8 plan to use credit cards for a ","_key":"9ea2fd12c6490","_type":"span"},{"marks":["strong"],"text":"concert or sporting event","_key":"69e77f2da7a0","_type":"span"},{"_key":"0d52ff723ff5","_type":"span","marks":[],"text":"."}],"level":1,"_type":"block"},{"style":"normal","_key":"89531ffcedb1","markDefs":[],"children":[{"_key":"b1003f8d89510","_type":"span","marks":["strong"],"text":"Risk vs. reward"}],"_type":"block"},{"_type":"block","style":"normal","_key":"c926cb4f7dbc","markDefs":[],"children":[{"_type":"span","marks":[],"text":"It’s understandable that the pandemic gave Americans a different perspective on life, but what are the consequences of all this additional debt?","_key":"16779320cdf80"}]},{"markDefs":[],"children":[{"_type":"span","marks":[],"text":"Bankrate’s Ted Rossman says many consumers seem to be taking a gamble that the long-term effects will be minimal.","_key":"67b411f0d8740"}],"_type":"block","style":"normal","_key":"161a5b119201"},{"style":"normal","_key":"855f2eafa310","markDefs":[],"children":[{"_key":"c8e10eb64abd0","_type":"span","marks":[],"text":"“Some of that reflects "},{"_type":"span","marks":["strong"],"text":"a ‘you only live once’ mentality","_key":"cb89aab8d914"},{"_type":"span","marks":[],"text":" that intensified during the pandemic, and some of that is because many economic indicators — including GDP growth and the unemployment rate — are in favorable shape.”","_key":"8937dcef4482"}],"_type":"block"}],"_id":"a5fe5fb0-bf2a-42b4-8f8f-5af56eadcd92","id":"WvhjmJYo","title":"‘Funflation’: The Weird Effect Higher Prices Are Having On Americans’ Spending Habits","visibility":"true","publishDate":"2024-06-27","slug":"/story/2024/06/funflation-the-weird-effect-higher-prices-are-having-on-americans-spending-habits","summary":"There's a battle raging between short-term pleasure and long-term planning."},{"summary":"In some cases, coverage simply isn't available at any cost.","_id":"cd14c5f8-849a-4be3-b265-f164890d03cf","publishDate":"2024-06-25","visibility":"true","category":"economy","body":[{"style":"normal","_key":"9b767ced0497","markDefs":[{"_type":"link","href":"https://earlychirp.com/story/2024/06/americans-look-for-a-silver-lining-as-housing-prices-continue-to-increase","_key":"f914be315976"}],"children":[{"marks":[],"text":"We recently ","_key":"37442deb9bdf0","_type":"span"},{"_type":"span","marks":["f914be315976"],"text":"explored","_key":"37442deb9bdf1"},{"_type":"span","marks":[],"text":" the harsh reality of rising home costs, but the list price is only one piece of the equation when it comes to buying and maintaining a home.","_key":"37442deb9bdf2"}],"_type":"block"},{"style":"normal","_key":"b14583c664f8","markDefs":[{"_type":"link","href":"https://www.yahoo.com/news/homeowners-insurance-prices-climb-more-090948906.html","_key":"58efe12b086d"}],"children":[{"_type":"span","marks":[],"text":"Another important aspect is homeowners insurance — and with rates continuing to ","_key":"d94d146541290"},{"_type":"span","marks":["58efe12b086d"],"text":"increase","_key":"d94d146541291"},{"_type":"span","marks":[],"text":" nationwide, many Americans are either unable or unwilling to pay for the coverage.","_key":"d94d146541292"}],"_type":"block"},{"style":"normal","_key":"c5e9ba3e2671","markDefs":[],"children":[{"_type":"span","marks":["strong"],"text":"“A very concerning trend”","_key":"b5fe44ba1a9b0"}],"_type":"block"},{"style":"normal","_key":"80ab3dd5e743","markDefs":[],"children":[{"_type":"span","marks":[],"text":"Homeowners like California retiree Anjali Tierra have increasingly found themselves in a lose-lose situation when it comes to finding affordable insurance. She bought a home in 2018, but by the next yea","_key":"2c597b34e2890"},{"_type":"span","marks":["strong"],"text":"r her premium had more than tripled ","_key":"26141ed88f2a"},{"_type":"span","marks":[],"text":"from less than $100 to about $350 per month.","_key":"c480fa061e85"}],"_type":"block"},{"markDefs":[],"children":[{"_type":"span","marks":[],"text":"For the past five years, she’s been one of a growing number of U.S. homeowners without insurance. One recent report determined that about 5% of Americans went without homeowners insurance in 2019 — a percentage that","_key":"93a32685e4670"},{"_type":"span","marks":["strong"],"text":" has since ballooned to 12%","_key":"1b5aa782e64a"},{"_type":"span","marks":[],"text":".","_key":"0a42836ccb1a"}],"_type":"block","style":"normal","_key":"d36517eaec7f"},{"children":[{"_type":"span","marks":[],"text":"The Insurance Information Institute’s Mark Friedlander put the situation into perspective, explaining: “It is a very concerning trend as catastrophe losses continue to escalate. It is not feasible for most Americans to pay out of pocket for a significant loss to their property.”","_key":"ce9169e049650"}],"_type":"block","style":"normal","_key":"a689960906a8","markDefs":[]},{"style":"normal","_key":"e4b265f81533","markDefs":[],"children":[{"_type":"span","marks":["strong"],"text":"Understanding the risks","_key":"9e6494b090550"}],"_type":"block"},{"_type":"block","style":"normal","_key":"2b202fa832c9","markDefs":[],"children":[{"_key":"5b70f54bbf310","_type":"span","marks":[],"text":"While it’s clearly tempting to eliminate costly insurance in the current economy, there are some important reasons to maintain coverage."}]},{"markDefs":[],"children":[{"marks":[],"text":"For starters, most homeowners have a mortgage that","_key":"79e9064f18ef0","_type":"span"},{"_type":"span","marks":["strong"],"text":" requires homeowners insurance","_key":"a82e9c57d085"},{"_type":"span","marks":[],"text":". But even those who could feasibly live without it, Tierra’s case highlights how hard it can be to secure a new policy at a later date.","_key":"46782f9d1ee0"}],"_type":"block","style":"normal","_key":"07502779bdd5"},{"markDefs":[],"children":[{"marks":[],"text":"And with a growing number of natural disasters destroying homes, it doesn’t appear that insurance will get any more affordable or accessible anytime soon.","_key":"44daeab6eec30","_type":"span"}],"_type":"block","style":"normal","_key":"d7d3af414feb"},{"style":"normal","_key":"495a8c6e7f4e","markDefs":[],"children":[{"_type":"span","marks":[],"text":"If you want to","_key":"1135021006d40"},{"_type":"span","marks":["strong"],"text":" find the lowest rate possible","_key":"87ad89ec3c03"},{"_type":"span","marks":[],"text":", experts recommend bundling insurance policies, agreeing to a higher deductible, and consulting with an experienced broker.","_key":"6c3319e0a1d6"}],"_type":"block"}],"_createdAt":"2024-06-24T22:21:58Z","_rev":"6yhpv8Ex8x74bdbde2V1h0","author":{"_ref":"phCNL32Gn","_type":"reference"},"_updatedAt":"2024-06-24T22:24:23Z","title":"Homeowners Are Starting To View Insurance As A Luxury Amid Skyrocketing Rates","id":"lkgVwJU1","slug":"/story/2024/06/homeowners-are-starting-to-view-insurance-as-a-luxury-amid-skyrocketing-rates","_type":"story","image":{"asset":{"metadata":{"lqip":"data:image/jpeg;base64,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","dimensions":{"width":480,"aspectRatio":1.7843866171003717,"height":269,"_type":"sanity.imageDimensions"},"isOpaque":true,"blurHash":"M4CZ9U^-0TMw4oM#%3?dt7_3O=IT^kx^X8","_type":"sanity.imageMetadata","palette":{"muted":{"population":4.27,"background":"#797588","_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff"},"lightVibrant":{"background":"#db9dac","_type":"sanity.imagePaletteSwatch","foreground":"#000","title":"#fff","population":0},"darkVibrant":{"_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff","population":4.8,"background":"#3c161f"},"lightMuted":{"title":"#000","population":4.36,"background":"#d0c4c8","_type":"sanity.imagePaletteSwatch","foreground":"#000"},"vibrant":{"_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff","population":0,"background":"#ba4460"},"dominant":{"title":"#fff","population":4.8,"background":"#3c161f","_type":"sanity.imagePaletteSwatch","foreground":"#fff"},"_type":"sanity.imagePalette","darkMuted":{"background":"#48393d","_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff","population":4.55}},"hasAlpha":true},"mimeType":"image/gif","source":{"name":"Snl Will Not GIF by Saturday Night Live","id":"jIIcMoTDycJ6N0SkjS","url":"https://giphy.com/gifs/snl-saturday-night-live-season-47-jIIcMoTDycJ6N0SkjS"},"path":"images/8mioycse/v3/f67eab874348d4d6a7e3b4f10455a567f8fa886d-480x269.gif","extension":"gif","size":2867365,"_id":"image-f67eab874348d4d6a7e3b4f10455a567f8fa886d-480x269-gif","sha1hash":"f67eab874348d4d6a7e3b4f10455a567f8fa886d","url":"https://cdn.sanity.io/images/8mioycse/v3/f67eab874348d4d6a7e3b4f10455a567f8fa886d-480x269.gif","_createdAt":"2024-06-24T22:23:20Z","_updatedAt":"2024-06-24T22:23:20Z","uploadId":"tmFJhJwddXdv0Z87tGgkBxu9tPuhJDEP","_rev":"6yhpv8Ex8x74bdbde2Uzrm","_type":"sanity.imageAsset","assetId":"f67eab874348d4d6a7e3b4f10455a567f8fa886d","originalFilename":"0a1423dc-0049-4e5d-9b35-775f51926518.gif"},"crop":{"left":0,"bottom":0,"_type":"sanity.imageCrop","right":0,"top":0},"hotspot":{"height":1,"_type":"sanity.imageHotspot","width":0.9486301369863013,"x":0.5,"y":0.5},"_type":"image","attribution":"Giphy"}},{"image":{"hotspot":{"_type":"sanity.imageHotspot","width":0.8938356164383561,"x":0.5,"y":0.5,"height":1},"_type":"image","attribution":"Giphy","asset":{"_type":"sanity.imageAsset","sha1hash":"ef8121aba164f1f5ad1548af033d07ec7e169c91","assetId":"ef8121aba164f1f5ad1548af033d07ec7e169c91","_updatedAt":"2024-06-23T19:28:37Z","source":{"url":"https://giphy.com/gifs/tlc-network-tlc-the-family-chantel-thefamilychantel-dCstTvFdt5EWaSkRwt","name":"House Hunting Home GIF by TLC","id":"dCstTvFdt5EWaSkRwt"},"url":"https://cdn.sanity.io/images/8mioycse/v3/ef8121aba164f1f5ad1548af033d07ec7e169c91-480x270.gif","path":"images/8mioycse/v3/ef8121aba164f1f5ad1548af033d07ec7e169c91-480x270.gif","metadata":{"hasAlpha":true,"lqip":"data:image/jpeg;base64,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","dimensions":{"_type":"sanity.imageDimensions","width":480,"aspectRatio":1.7777777777777777,"height":270},"isOpaque":true,"blurHash":"MFH1Jg5UXLxrwG_Lv|cFOXVsW8kBsqJCt8","_type":"sanity.imageMetadata","palette":{"muted":{"background":"#a66056","_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff","population":2.05},"lightVibrant":{"population":5.02,"background":"#d57d74","_type":"sanity.imagePaletteSwatch","foreground":"#000","title":"#fff"},"darkVibrant":{"_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff","population":4.06,"background":"#6e2523"},"lightMuted":{"background":"#baa69d","_type":"sanity.imagePaletteSwatch","foreground":"#000","title":"#fff","population":5.59},"vibrant":{"background":"#b86654","_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff","population":5.52},"dominant":{"background":"#baa69d","_type":"sanity.imagePaletteSwatch","foreground":"#000","title":"#fff","population":5.59},"_type":"sanity.imagePalette","darkMuted":{"title":"#fff","population":2.17,"background":"#594440","_type":"sanity.imagePaletteSwatch","foreground":"#fff"}}},"uploadId":"jhIi8A4DupUjD9uAa0kuvELlS8ZQM5bI","_rev":"UU5Xfjrqun1nrUABd6cfVZ","_createdAt":"2024-06-23T19:28:37Z","_id":"image-ef8121aba164f1f5ad1548af033d07ec7e169c91-480x270-gif","originalFilename":"3ba8bfe3-5869-4b74-bd80-4c72887f7828.gif","extension":"gif","mimeType":"image/gif","size":4056745},"crop":{"bottom":0,"_type":"sanity.imageCrop","right":0,"top":0,"left":0}},"_type":"story","_createdAt":"2024-06-23T19:29:33Z","title":"Americans Look For A Silver Lining As Housing Prices Continue To Increase","_rev":"UU5Xfjrqun1nrUABd6crnN","_id":"88b4a86f-034f-4ce8-a119-375de7b5b810","publishDate":"2024-06-24","id":"O0uuBkqT","visibility":"true","slug":"/story/2024/06/americans-look-for-a-silver-lining-as-housing-prices-continue-to-increase","_updatedAt":"2024-06-23T19:29:33Z","body":[{"markDefs":[{"_type":"link","href":"https://www.nbcnews.com/data-graphics/homebuying-costs-clash-growing-inventories-easing-competition-data-rcna157545","_key":"f7db66f82b03"}],"children":[{"marks":[],"text":"If you’re in the market for a new home, you’re probably concerned about high prices. But as with almost any economic trend, there could be some pros ","_key":"d2454b2b86d10","_type":"span"},{"text":"mixed","_key":"d2454b2b86d11","_type":"span","marks":["f7db66f82b03"]},{"marks":[],"text":" in with the cons.","_key":"d2454b2b86d12","_type":"span"}],"_type":"block","style":"normal","_key":"f7264fd655fc"},{"_type":"block","style":"normal","_key":"12e671e0f36b","markDefs":[],"children":[{"marks":["strong"],"text":"Bigger costs, smaller crowds","_key":"3dcbf7edb0210","_type":"span"}]},{"markDefs":[],"children":[{"text":"Let’s start by taking stock of the harsh reality surrounding the housing market. The latest Home Buyer Cost Index reveals just how much the price of an average home has increased over the past year.","_key":"98963a5ef8680","_type":"span","marks":[]}],"_type":"block","style":"normal","_key":"ca1b6759e8be"},{"markDefs":[],"children":[{"_type":"span","marks":[],"text":"Here are a few of the most significant statistics:","_key":"9572aec28a530"}],"_type":"block","style":"normal","_key":"13b459fabc22"},{"style":"normal","_key":"7244c05e38ad","listItem":"bullet","markDefs":[],"children":[{"_type":"span","marks":[],"text":"Between May 2023 and May 2024, prices increased","_key":"8872909f95770"},{"marks":["strong"],"text":" in 70% of U.S. counties","_key":"4760edc5a900","_type":"span"},{"marks":[],"text":".","_key":"8243ea4df8c5","_type":"span"}],"level":1,"_type":"block"},{"listItem":"bullet","markDefs":[],"children":[{"_type":"span","marks":[],"text":"The median amount of that increase","_key":"d67a8f7467bb0"},{"_type":"span","marks":["strong"],"text":" was $22,000","_key":"95f5a764e84f"},{"_type":"span","marks":[],"text":".","_key":"7536b9364730"}],"level":1,"_type":"block","style":"normal","_key":"9acfb81bb721"},{"_key":"9307df597f21","listItem":"bullet","markDefs":[],"children":[{"_key":"0ba2a6f124ac0","_type":"span","marks":[],"text":"A typical home as of last month came with a"},{"_type":"span","marks":["strong"],"text":" $444,000 list price","_key":"eb4c596ae5b1"},{"_type":"span","marks":[],"text":".","_key":"248c5f032bd2"}],"level":1,"_type":"block","style":"normal"},{"markDefs":[],"children":[{"_type":"span","marks":[],"text":"Faced with a median price that’s","_key":"053857e9e4b10"},{"_type":"span","marks":["strong"],"text":" more than $75,000 higher","_key":"2c5d3afa672f"},{"_key":"d7ed1e72fdf3","_type":"span","marks":[],"text":" than the typical U.S. household can afford, it’s no wonder many would-be buyers are deciding to call off their search. But in that objectively bad news is where we might find a glimmer of hope."}],"_type":"block","style":"normal","_key":"f635add396b3"},{"children":[{"text":"With fewer people shopping for a house, the market seems to be opening up for those who are still in the hunt.","_key":"2bee2454b2170","_type":"span","marks":[]}],"_type":"block","style":"normal","_key":"ef49a6358f00","markDefs":[]},{"markDefs":[],"children":[{"text":"Deciding if the time is right","_key":"d2d8011f12cb0","_type":"span","marks":["strong"]}],"_type":"block","style":"normal","_key":"c54378fd2e35"},{"_type":"block","style":"normal","_key":"36912cd5a7b2","markDefs":[],"children":[{"marks":[],"text":"A new report compiled by NBC News found that the homebuying difficulty index fell last month even as prices got higher, which is","_key":"97a37addc4260","_type":"span"},{"text":" a direct reflection on the reduced competition","_key":"a9966405eb87","_type":"span","marks":["strong"]},{"marks":[],"text":" in the marketplace. But while the law of supply and demand might suggest that fewer buyers will translate into lower prices, that doesn’t seem to be panning out just yet.","_key":"ef7bfc163c0d","_type":"span"}]},{"markDefs":[],"children":[{"_type":"span","marks":[],"text":"National Association of Realtors chief economist Lawrence Yun said it could be around the corner, though, concluding: “Inventory has certainly increased [nationwide],","_key":"6d0856d62c920"},{"_key":"5406d944b1c0","_type":"span","marks":["strong"],"text":" but sales have yet to really get going"},{"_type":"span","marks":[],"text":". So if inventory lingers for longer, that’s when we’ll really start to see price reductions.”","_key":"e937efd9c41a"}],"_type":"block","style":"normal","_key":"e387488d5f53"}],"author":{"_ref":"phCNL32Gn","_type":"reference"},"summary":"Costs are going up, but there's another important trend that's going down.","category":"economy"},{"_id":"af5e083f-1248-4889-99ce-a30e5c874951","_updatedAt":"2024-06-18T22:31:08Z","id":"safV2irz","title":"Inside The IRS Plan To Raise Billions By Cracking Down On ‘Pass-Through Businesses’","author":{"_ref":"phCNL32Gn","_type":"reference"},"body":[{"children":[{"_key":"3312c09012cf0","_type":"span","marks":[],"text":"For most taxpayers, the IRS is a necessary evil at best. The taxman takes a significant portion of your earnings and distributes it in ways that you might not approve of or even fully understand."}],"_type":"block","style":"normal","_key":"af46fddd1fd6","markDefs":[]},{"markDefs":[{"_type":"link","href":"https://www.nbcnews.com/business/taxes/irs-raise-50-billion-dollars-closing-loophole-exploited-wealthy-rcna157492","_key":"2266936cb4c0"}],"children":[{"_type":"span","marks":[],"text":"But there’s one ","_key":"934e89f51d2c0"},{"text":"aspect","_key":"934e89f51d2c1","_type":"span","marks":["2266936cb4c0"]},{"text":" that millions of Americans find particularly frustrating — loopholes that are ","_key":"934e89f51d2c2","_type":"span","marks":[]},{"_type":"span","marks":["strong"],"text":"exploited by the wealthiest among us","_key":"ce4e81e4a12a"},{"text":". In an announcement this week, the IRS confirmed that it would be tackling this issue head-on over the next decade.","_key":"101cdbf02979","_type":"span","marks":[]}],"_type":"block","style":"normal","_key":"df8e1071fab8"},{"children":[{"_type":"span","marks":["strong"],"text":"Assessing the situation","_key":"1597eaa9980d0"}],"_type":"block","style":"normal","_key":"9a5b353c55f4","markDefs":[]},{"_key":"7898e85b82f6","markDefs":[],"children":[{"text":"Treasury Department officials laid out various parts of a strategy designed to crack down on the use of pass-through businesses created by wealthy taxpayers in order to avoid paying all the taxes they would otherwise owe.","_key":"15b03a87b4b00","_type":"span","marks":[]}],"_type":"block","style":"normal"},{"_key":"0111d02f28cd","markDefs":[],"children":[{"_type":"span","marks":[],"text":"Estimates from the agency reveal how much revenue the federal government has lost as a result of this tactic.","_key":"d8fa2b25fdd50"}],"_type":"block","style":"normal"},{"_type":"block","style":"normal","_key":"259ab2c7fd0e","listItem":"bullet","markDefs":[],"children":[{"marks":[],"text":"The number of pass-through businesses","_key":"85ef2da1a88a0","_type":"span"},{"_type":"span","marks":["strong"],"text":" increased by 70%","_key":"59f3bbed3e24"},{"_type":"span","marks":[],"text":" during the 2010s","_key":"c9acae0c8cb4"}],"level":1},{"_type":"block","style":"normal","_key":"daf0ace8cefd","listItem":"bullet","markDefs":[],"children":[{"text":"During that decade, wealthy taxpayers avoided paying","_key":"21d3859fccb00","_type":"span","marks":[]},{"_type":"span","marks":["strong"],"text":" about $160 billion ","_key":"a45cf868a8e3"},{"marks":[],"text":"in taxes","_key":"a8d02bf47b06","_type":"span"}],"level":1},{"_key":"8395df69ba61","listItem":"bullet","markDefs":[],"children":[{"_key":"08ee5bf8a0bd0","_type":"span","marks":[],"text":"Enhanced enforcement should bring in"},{"_key":"7814716e3b62","_type":"span","marks":["strong"],"text":" more than $50 billion"},{"_type":"span","marks":[],"text":" by the mid-2030s","_key":"67683fc8e5b4"}],"level":1,"_type":"block","style":"normal"},{"markDefs":[],"children":[{"_type":"span","marks":[],"text":"While establishing these tax shelters isn’t necessarily illegal, Deputy Treasury Secretary Wally Adeyemo explained that many of the wealthiest Americans use them like a “","_key":"13940459f2230"},{"_type":"span","marks":["strong"],"text":"shell game","_key":"3f4bfbe73430"},{"_type":"span","marks":[],"text":"” to move money around and avoid tax liability.","_key":"529d83766d84"}],"_type":"block","style":"normal","_key":"bbca6e48546a"},{"markDefs":[],"children":[{"_type":"span","marks":["strong"],"text":"Digging into the plan","_key":"923d9af4f96b0"}],"_type":"block","style":"normal","_key":"ee1334867443"},{"_key":"826fc0aaf755","markDefs":[],"children":[{"marks":[],"text":"According to Treasury Secretary Janet Yellen, new rules being proposed by the department “are focused on ","_key":"1c88a68b66820","_type":"span"},{"_type":"span","marks":["strong"],"text":"addressing high-end tax abuse ","_key":"76da146e4e78"},{"_type":"span","marks":[],"text":"from all angles” and seek to “increase tax fairness and reduce the deficit.”","_key":"b280c3e4b816"}],"_type":"block","style":"normal"},{"markDefs":[],"children":[{"_type":"span","marks":[],"text":"Part of the recommended approach involves subjecting wealthy individuals (as well as many businesses) to ","_key":"ad24f41969a60"},{"_type":"span","marks":["strong"],"text":"a higher number of audits","_key":"a3db7456e5dd"},{"marks":[],"text":".","_key":"a5d2b4dfed44","_type":"span"}],"_type":"block","style":"normal","_key":"5dc34809a567"},{"style":"normal","_key":"99decc22f957","markDefs":[],"children":[{"marks":[],"text":"But not everyone is on board. A number of Republican lawmakers think the Biden administration has spent too much on the IRS already and House Speaker Mike Johnson wants to cut another $10 billion from the agency in next year’s budget.","_key":"d9191ae5db7d0","_type":"span"}],"_type":"block"}],"category":"economy","summary":"The strategy will be implemented over the course of the next decade.","_rev":"tBdeE95FMgXLPt8Jz3wJOv","image":{"hotspot":{"height":1,"_type":"sanity.imageHotspot","width":0.886986301369863,"x":0.5,"y":0.5},"_type":"image","attribution":"Giphy","asset":{"size":1194792,"_createdAt":"2024-06-18T22:30:07Z","_id":"image-2537edbd5da6f27b474a4e75deac59296983e392-480x258-gif","extension":"gif","sha1hash":"2537edbd5da6f27b474a4e75deac59296983e392","source":{"name":"Joe Biden Cnn Town Hall GIF by GIPHY News","id":"dxGZWW2dMg0GzOpBj7","url":"https://giphy.com/gifs/news-joe-biden-cnn-town-hall-pay-your-fair-share-dxGZWW2dMg0GzOpBj7"},"url":"https://cdn.sanity.io/images/8mioycse/v3/2537edbd5da6f27b474a4e75deac59296983e392-480x258.gif","path":"images/8mioycse/v3/2537edbd5da6f27b474a4e75deac59296983e392-480x258.gif","originalFilename":"edd67a28-8b97-40f6-8aba-671112cd9455.gif","metadata":{"isOpaque":true,"blurHash":"MFA^eVMH0A-q^hT5obRNWa${S~t8rpIpcG","_type":"sanity.imageMetadata","palette":{"dominant":{"_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff","population":8.94,"background":"#a87b74"},"_type":"sanity.imagePalette","darkMuted":{"background":"#653734","_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff","population":0.97},"muted":{"_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff","population":8.94,"background":"#a87b74"},"lightVibrant":{"foreground":"#000","title":"#fff","population":0.64,"background":"#d6958b","_type":"sanity.imagePaletteSwatch"},"darkVibrant":{"population":7.64,"background":"#041a89","_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff"},"lightMuted":{"title":"#fff","population":5.12,"background":"#b1bfd8","_type":"sanity.imagePaletteSwatch","foreground":"#000"},"vibrant":{"_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff","population":8.24,"background":"#044cab"}},"hasAlpha":true,"lqip":"data:image/jpeg;base64,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","dimensions":{"_type":"sanity.imageDimensions","width":480,"aspectRatio":1.8604651162790697,"height":258}},"_rev":"tBdeE95FMgXLPt8Jz3wFGQ","uploadId":"BrPedwluo8OKBUxUXrU8Z4Fx5BeH6nN1","_type":"sanity.imageAsset","mimeType":"image/gif","assetId":"2537edbd5da6f27b474a4e75deac59296983e392","_updatedAt":"2024-06-18T22:30:07Z"},"crop":{"top":0,"left":0,"bottom":0,"_type":"sanity.imageCrop","right":0}},"_type":"story","visibility":"true","publishDate":"2024-06-19","slug":"/story/2024/06/inside-the-irs-plan-to-raise-billions-by-cracking-down-on-passthrough-businesses","_createdAt":"2024-06-18T22:28:26Z"},{"visibility":"true","_id":"d83cd598-b055-499a-975a-b163b47f0570","_createdAt":"2024-06-11T21:02:38Z","slug":"/story/2024/06/homeowners-in-these-regions-of-the-us-are-facing-severe-economic-headwinds","title":"Homeowners In These Regions Of The U.S. Are Facing Severe Economic Headwinds","image":{"_type":"image","attribution":"Giphy","asset":{"uploadId":"P27i3nO1Vr4aKRuviQSm3gXq1EkqpmgR","_type":"sanity.imageAsset","sha1hash":"5cbe32f7c225e68c8e9a115694f4da4ef48f333c","url":"https://cdn.sanity.io/images/8mioycse/v3/5cbe32f7c225e68c8e9a115694f4da4ef48f333c-359x201.gif","_createdAt":"2024-06-12T01:33:52Z","originalFilename":"759a432d-e81c-4cc7-9a8b-484c80759822.gif","metadata":{"hasAlpha":true,"lqip":"data:image/jpeg;base64,/9j/2wBDAAYEBQYFBAYGBQYHBwYIChAKCgkJChQODwwQFxQYGBcUFhYaHSUfGhsjHBYWICwgIyYnKSopGR8tMC0oMCUoKSj/2wBDAQcHBwoIChMKChMoGhYaKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCj/wAARCAALABQDASIAAhEBAxEB/8QAGAAAAwEBAAAAAAAAAAAAAAAAAAUGAQT/xAAhEAABAwMEAwAAAAAAAAAAAAABAgMEAAURBiEiMRMVYf/EABYBAQEBAAAAAAAAAAAAAAAAAAMBAv/EABkRAAMBAQEAAAAAAAAAAAAAAAABEQISIf/aAAwDAQACEQMRAD8AQ2MwHrqmCwW3MZAGO667rbmmJRDwUXnE8W0bjak+iYUdvEpDQEgdLyc1omyXNeRwt5Sh4TsaBZzYw9KxLwl7nbWxMcAbcT8INFUeoXF+yXyPQoraReT/2Q==","dimensions":{"_type":"sanity.imageDimensions","width":359,"aspectRatio":1.7860696517412935,"height":201},"isOpaque":true,"blurHash":"M3CQMO^#0002A85y_3Sz.5,]00E+.AVDD7","_type":"sanity.imageMetadata","palette":{"_type":"sanity.imagePalette","darkMuted":{"_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff","population":6.27,"background":"#475d3a"},"muted":{"population":1.79,"background":"#8aa563","_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff"},"lightVibrant":{"background":"#c0d5a3","_type":"sanity.imagePaletteSwatch","foreground":"#000","title":"#000","population":0},"darkVibrant":{"foreground":"#fff","title":"#fff","population":0.15,"background":"#6d2130","_type":"sanity.imagePaletteSwatch"},"lightMuted":{"_type":"sanity.imagePaletteSwatch","foreground":"#000","title":"#fff","population":4.32,"background":"#c0c7c3"},"vibrant":{"_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff","population":0.9,"background":"#6b8a3f"},"dominant":{"_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff","population":6.27,"background":"#475d3a"}}},"_rev":"f0jS5Oq8tG3RckCawXWAU4","path":"images/8mioycse/v3/5cbe32f7c225e68c8e9a115694f4da4ef48f333c-359x201.gif","_id":"image-5cbe32f7c225e68c8e9a115694f4da4ef48f333c-359x201-gif","mimeType":"image/gif","source":{"url":"https://giphy.com/gifs/HallmarkChannel-jp-wes-brown-sweetpecansummer-Tm9mjClvXzBgQDo1g0","name":"Tossing Wes Brown GIF by Hallmark Channel","id":"Tm9mjClvXzBgQDo1g0"},"assetId":"5cbe32f7c225e68c8e9a115694f4da4ef48f333c","_updatedAt":"2024-06-12T01:33:52Z","extension":"gif","size":1735669}},"_rev":"271VS9ccliVHTFwUtVH5J2","_type":"story","id":"vXquIULC","author":{"_ref":"phCNL32Gn","_type":"reference"},"_updatedAt":"2024-06-12T01:33:55Z","publishDate":"2024-06-12","body":[{"children":[{"text":"For generations, Americans were taught that buying a home was among the","_key":"9f0d026c7c510","_type":"span","marks":[]},{"_type":"span","marks":["strong"],"text":" best financial decisions","_key":"1332a69f97ff"},{"_type":"span","marks":[],"text":" they could make. Residential real estate gave people a place to live while generally increasing in value, setting families up for economic stability for years to come.","_key":"0d2cd31ec093"}],"_type":"block","style":"normal","_key":"acbf6f603708","markDefs":[]},{"markDefs":[{"_type":"link","href":"https://www.axios.com/2024/06/10/home-mortgage-debt","_key":"1abee052fdb1"}],"children":[{"_type":"span","marks":[],"text":"And while that is still true to some extent in many communities across the country, those living in other ","_key":"82e93066329a0"},{"_key":"82e93066329a1","_type":"span","marks":["1abee052fdb1"],"text":"areas"},{"_type":"span","marks":[],"text":" are less likely to find such an advantageous result under current market conditions.","_key":"82e93066329a2"}],"_type":"block","style":"normal","_key":"c3291810e8a1"},{"_type":"block","style":"normal","_key":"c5e74da78d47","markDefs":[],"children":[{"_type":"span","marks":["strong"],"text":"Drowning in debt","_key":"2f2b3502bc7b0"}]},{"markDefs":[],"children":[{"_key":"0f8892ba2dca0","_type":"span","marks":[],"text":"There’s a term for people who owe more on their homes than the property is worth: underwater. This group of homeowners has grown larger in recent years amid"},{"_type":"span","marks":["strong"],"text":" rising interest rates","_key":"6c4ed8f11df5"},{"text":" and ","_key":"6b08d1419a15","_type":"span","marks":[]},{"_key":"7f086e273239","_type":"span","marks":["strong"],"text":"falling home values"},{"marks":[],"text":".","_key":"015dafc3bb87","_type":"span"}],"_type":"block","style":"normal","_key":"534fd7f2d313"},{"_key":"793d471a47d2","markDefs":[],"children":[{"_key":"8bfa98add1860","_type":"span","marks":[],"text":"Nowhere is this more obvious, according to experts, than in the South and Midwest. A new study found that a disproportionate number of underwater mortgage holders live in these regions."}],"_type":"block","style":"normal"},{"markDefs":[],"children":[{"_type":"span","marks":[],"text":"At the top of the list is Louisiana, where","_key":"5026dbc23a150"},{"_key":"d15fd57adf78","_type":"span","marks":["strong"],"text":" more than 11% of mortgages"},{"_type":"span","marks":[],"text":" are underwater. That’s about one point higher than last year, with the increase due in large part to the 6% decline in home values statewide over the past two years.","_key":"48b4e2362964"}],"_type":"block","style":"normal","_key":"c90ef090d544"},{"_key":"16c7658bf63c","markDefs":[],"children":[{"_type":"span","marks":[],"text":"Wyoming comes in second with nearly 9% of mortgage holders underwater — and home prices have plummeted even more drastically in that state, falling a whopping 12% in only a year.","_key":"65ae62ff07c60"}],"_type":"block","style":"normal"},{"_type":"block","style":"normal","_key":"80390694530e","markDefs":[],"children":[{"_type":"span","marks":["strong"],"text":"A blip or a trend","_key":"21c006f2e3990"}]},{"style":"normal","_key":"b812f4bbbccd","markDefs":[],"children":[{"_type":"span","marks":[],"text":"As for how concerned homeowners in this swath of the country should feel, that probably depends on whom you ask.","_key":"9714b1f89ce40"}],"_type":"block"},{"_type":"block","style":"normal","_key":"328fa53cef18","markDefs":[],"children":[{"_type":"span","marks":[],"text":"Lawrence Yun, the chief economist for the National Association of Realtors, took a cautiously optimistic approach, advising: “It ","_key":"201c86b618bd0"},{"_type":"span","marks":["strong"],"text":"could be a temporary increase ","_key":"9450d42c76d9"},{"_key":"cba943619312","_type":"span","marks":[],"text":"and not necessarily a major concern.”"}]},{"markDefs":[],"children":[{"text":"But if things get worse, i.e. rising unemployment and/or a recession, those who are underwater in their mortgages could be hurt worse than the general population.","_key":"3b209fb9e20f0","_type":"span","marks":[]}],"_type":"block","style":"normal","_key":"4419493a0ade"}],"category":"economy","summary":"Is buying a home no longer the key to establishing financial security?"},{"body":[{"children":[{"_type":"span","marks":[],"text":"We’ve previously covered the rise of installment-plan purchasing, whereby so-called “buy now pay later” lenders allow people to make relatively small purchases and pay for them over time. While these options have","_key":"e1f6727037cb0"},{"_key":"42a9ee42169e","_type":"span","marks":["strong"],"text":" some potential benefits "},{"_type":"span","marks":[],"text":"over traditional credit cards (lower qualification thresholds, limited fees, etc.), it’s easy for folks who overuse these plans to get deep into debt.","_key":"f61fa91e2035"}],"_type":"block","style":"normal","_key":"6bfe6ffe7016","markDefs":[]},{"markDefs":[{"_type":"link","href":"https://www.nbcnews.com/business/personal-finance/buy-now-pay-later-installment-loans-retailers-credit-cards-rcna153922","_key":"2ea88b510198"}],"children":[{"_type":"span","marks":[],"text":"And now that BNPL services are being ","_key":"6643d875c8ae0"},{"_type":"span","marks":["2ea88b510198"],"text":"integrated","_key":"6643d875c8ae1"},{"text":" into a growing number of transactions, it’s more important than ever for consumers to understand the risks and rewards of using them.","_key":"6643d875c8ae2","_type":"span","marks":[]}],"_type":"block","style":"normal","_key":"e5cf4c6cf5f0"},{"style":"normal","_key":"e9ea66f8aed0","markDefs":[],"children":[{"_type":"span","marks":["strong"],"text":"In-house alternatives","_key":"54c080bbe7400"}],"_type":"block"},{"_type":"block","style":"normal","_key":"781a4948fa2d","markDefs":[],"children":[{"marks":[],"text":"Perhaps you’re familiar with some of the early leaders in this emerging industry. Companies like Klarna and Affirm grew exponentially during COVID-19 along with a surge in online shopping.","_key":"29ad022398a80","_type":"span"}]},{"markDefs":[],"children":[{"_type":"span","marks":[],"text":"Since the economy has reopened, the outlook for these firms has been slightly less rosy. One report found that","_key":"49065f1987490"},{"_type":"span","marks":["strong"],"text":" 56% of adults","_key":"c35bea089526"},{"_type":"span","marks":[],"text":" had taken out at least one BNPL loan in 2021, but ","_key":"afd432b6d4cb"},{"_type":"span","marks":["strong"],"text":"just 35% said the same","_key":"c18f48fcb398"},{"text":" last year.","_key":"faee2d1c3741","_type":"span","marks":[]}],"_type":"block","style":"normal","_key":"45ffadc8176f"},{"markDefs":[],"children":[{"marks":[],"text":"This doesn’t mean BNPL is over, though. In fact, a growing number of retailers and service providers are getting in on the action by either launching their own services, partnering directly with an established brand, or even buying out loan providers directly.","_key":"6faa6149b3e70","_type":"span"}],"_type":"block","style":"normal","_key":"dfe78aa1162a"},{"children":[{"_type":"span","marks":["strong"],"text":"Where you’ll find them","_key":"ad06404a122d0"}],"_type":"block","style":"normal","_key":"efeabba4184d","markDefs":[]},{"markDefs":[],"children":[{"_type":"span","marks":[],"text":"There are several sectors of the economy that are increasingly implementing BNPL options within their existing business model. A few of the most notable include:","_key":"a4165b4286c60"}],"_type":"block","style":"normal","_key":"280601f76741"},{"_key":"199a08488a60","listItem":"bullet","markDefs":[],"children":[{"_type":"span","marks":["strong"],"text":"Credit cards","_key":"4bb8f046b09a0"},{"_type":"span","marks":[],"text":": If you can’t beat ‘em, join ‘em. That’s what companies like Mastercard and Amex figured when rolling out their own installment-pay programs.","_key":"aa914c0c8183"}],"level":1,"_type":"block","style":"normal"},{"_key":"31709de93d7e","listItem":"bullet","markDefs":[],"children":[{"_type":"span","marks":["strong"],"text":"Retailers","_key":"7ca6e2cd34530"},{"_type":"span","marks":[],"text":": Walmart made news earlier in April by introducing its own BNPL service after a partnership with Affirm that dated back several years.","_key":"54124abd428c"}],"level":1,"_type":"block","style":"normal"},{"listItem":"bullet","markDefs":[],"children":[{"marks":["strong"],"text":"Banks","_key":"c8676d90a59d0","_type":"span"},{"marks":[],"text":": If you bank with institutions like Chase or Citibank, you might have noticed a new BNPL option for your recent qualifying purchases.","_key":"27475ed64f17","_type":"span"}],"level":1,"_type":"block","style":"normal","_key":"5a0e259655db"}],"image":{"_type":"image","attribution":"Giphy","asset":{"_rev":"tjcxMEksNQehTSzqOmKyxv","path":"images/8mioycse/v3/448b1a7b6e011383b8fea7c18d491d27b132c850-480x268.gif","_createdAt":"2024-06-09T20:16:57Z","_id":"image-448b1a7b6e011383b8fea7c18d491d27b132c850-480x268-gif","originalFilename":"7c404052-3f67-4ee4-89c5-4fff04f75b5f.gif","uploadId":"QMhvkT1IURYKvOXi1DqbOGff60ScuzcN","url":"https://cdn.sanity.io/images/8mioycse/v3/448b1a7b6e011383b8fea7c18d491d27b132c850-480x268.gif","mimeType":"image/gif","source":{"name":"Rose Mciver Money GIF by CBS","id":"ZKLbLjvqFNgxJYPPp6","url":"https://giphy.com/gifs/cbs-ghosts-ghostscbs-cbs-ZKLbLjvqFNgxJYPPp6"},"assetId":"448b1a7b6e011383b8fea7c18d491d27b132c850","extension":"gif","_type":"sanity.imageAsset","sha1hash":"448b1a7b6e011383b8fea7c18d491d27b132c850","size":1639161,"_updatedAt":"2024-06-09T20:16:57Z","metadata":{"isOpaque":true,"blurHash":"M6Ee_O00.8i^01-:01.69aM|0Ju6vy%MD%","_type":"sanity.imageMetadata","palette":{"lightVibrant":{"title":"#000","population":0.91,"background":"#f4f39e","_type":"sanity.imagePaletteSwatch","foreground":"#000"},"darkVibrant":{"_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff","population":0.1,"background":"#67640d"},"lightMuted":{"foreground":"#000","title":"#fff","population":6.79,"background":"#c8b596","_type":"sanity.imagePaletteSwatch"},"vibrant":{"_type":"sanity.imagePaletteSwatch","foreground":"#000","title":"#fff","population":0.03,"background":"#c6c948"},"dominant":{"background":"#4d3a2a","_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff","population":6.93},"_type":"sanity.imagePalette","darkMuted":{"population":6.93,"background":"#4d3a2a","_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff"},"muted":{"background":"#9b8267","_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff","population":6.89}},"hasAlpha":true,"lqip":"data:image/jpeg;base64,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","dimensions":{"_type":"sanity.imageDimensions","width":480,"aspectRatio":1.791044776119403,"height":268}}},"crop":{"left":0,"bottom":0,"_type":"sanity.imageCrop","right":0,"top":0},"hotspot":{"height":1,"_type":"sanity.imageHotspot","width":0.9554794520547943,"x":0.5,"y":0.5}},"_updatedAt":"2024-06-09T20:52:21Z","summary":"A pandemic-era trend continues to spread far and wide. ","visibility":"true","id":"4fNkWIcJ","slug":"/story/2024/06/here-are-the-surprising-new-places-buy-now-pay-later-is-showing-up","_createdAt":"2024-06-09T20:14:46Z","publishDate":"2024-06-10","_id":"c6566f1e-8446-4534-b72f-a08e86259c40","_type":"story","title":"Here Are The Surprising New Places ‘Buy Now Pay Later’ Is Showing Up","author":{"_ref":"phCNL32Gn","_type":"reference"},"_rev":"7uxuqveSOh7Q8WvnDjfWJE","category":"economy"},{"id":"EZYbLz4P","_updatedAt":"2024-06-08T00:38:33Z","body":[{"markDefs":[],"children":[{"_type":"span","marks":[],"text":"You don’t have to scan too many news outlets these days to find","_key":"9937d499502d0"},{"_type":"span","marks":["strong"],"text":" some pessimistic outlooks ","_key":"6e7b32908c0e"},{"_type":"span","marks":[],"text":"regarding the U.S. economy. Inflation remains too high for comfort, economists are still wary of a looming recession, and the central bank seems to have put a hold on interest rate relief.","_key":"a69f2111e168"}],"_type":"block","style":"normal","_key":"bd6f2bb4cf64"},{"_type":"block","style":"normal","_key":"972f46836ed9","markDefs":[{"_type":"link","href":"https://www.pewresearch.org/race-and-ethnicity/2024/05/31/the-state-of-the-american-middle-class/","_key":"82240628cd2a"}],"children":[{"_type":"span","marks":[],"text":"But these are (hopefully) short-term problems in the grand scheme of things. There’s a much longer-term trend that might be even more telling … and a recent ","_key":"31e38d465c870"},{"_type":"span","marks":["82240628cd2a"],"text":"report","_key":"31e38d465c871"},{"_type":"span","marks":[],"text":" put things in perspective.","_key":"31e38d465c872"}]},{"_key":"27b833f9c082","markDefs":[],"children":[{"text":"Waking up from the American Dream","_key":"26f3be666a360","_type":"span","marks":["strong"]}],"_type":"block","style":"normal"},{"_key":"3fef806467f0","markDefs":[],"children":[{"_type":"span","marks":[],"text":"Sure, most of us would love to receive a massive financial windfall. But if we’re being more realistic about things, most Americans are simply looking for a","_key":"b23f3655b95b0"},{"_type":"span","marks":["strong"],"text":" relatively secure, middle-class lifestyle","_key":"4e0007e0ec33"},{"text":".","_key":"1d0a52f6a0c3","_type":"span","marks":[]}],"_type":"block","style":"normal"},{"style":"normal","_key":"e79f9e669357","markDefs":[],"children":[{"_type":"span","marks":[],"text":"For a few decades in the mid-20th century, this seemed like a fairly straightforward goal that a majority of households were able to achieve. But as new industries have emerged, old jobs disappeared, and the economy became","_key":"5f336ced2f03"},{"marks":["strong"],"text":" more complex than ever","_key":"ab1b05ea30d6","_type":"span"},{"_type":"span","marks":[],"text":", that middle class has continued to shrink.","_key":"f2e68e935d49"}],"_type":"block"},{"children":[{"text":"The good, the bad, and the ugly","_key":"f2d6243c80a90","_type":"span","marks":["strong"]}],"_type":"block","style":"normal","_key":"437012a8b957","markDefs":[]},{"_key":"b0ffc6ef9adf","markDefs":[],"children":[{"_key":"9b4b8b3cd3c40","_type":"span","marks":[],"text":"To be sure, America’s economic news isn’t all bad. In fact, the latest analysis shows that low-, middle-, and high-income Americans saw their inflation-adjusted incomes increase over the past 50+ years."}],"_type":"block","style":"normal"},{"_type":"block","style":"normal","_key":"5b8e9567ac27","markDefs":[],"children":[{"_type":"span","marks":[],"text":"Of course, those in the upper echelon got a much bigger boost than those in the bottom two. Here’s how it breaks down:","_key":"ed032173160d0"}]},{"listItem":"bullet","markDefs":[],"children":[{"_type":"span","marks":[],"text":"Upper-income salaries","_key":"e70d9fcda3610"},{"_type":"span","marks":["strong"],"text":" increased 78%","_key":"bcc1355d2b90"},{"_type":"span","marks":[],"text":" between 1970 and 2022.","_key":"6a737a7e1d08"}],"level":1,"_type":"block","style":"normal","_key":"fb8664d76e59"},{"style":"normal","_key":"9739e69fe6a8","listItem":"bullet","markDefs":[],"children":[{"_type":"span","marks":[],"text":"The boost to middle-income salaries","_key":"fe5e34519dd30"},{"marks":["strong"],"text":" was 60%","_key":"2326fe8f385d","_type":"span"},{"marks":[],"text":" during the same years.","_key":"489d2a99f30b","_type":"span"}],"level":1,"_type":"block"},{"style":"normal","_key":"4aa33566ba59","listItem":"bullet","markDefs":[],"children":[{"_type":"span","marks":[],"text":"For those earning the least, incomes ","_key":"35033ebf555c0"},{"_type":"span","marks":["strong"],"text":"increased by just 55%","_key":"df00965ccb14"},{"_key":"b99eb56e1962","_type":"span","marks":[],"text":"."}],"level":1,"_type":"block"},{"markDefs":[],"children":[{"_type":"span","marks":[],"text":"And the middle class has continued to shrink (from 61% in 1971 to 51% in 2023) as the other two segments grew. Of the 10 U.S. metro areas with the largest lower-income population, four are in Texas — including McAllen-Edinburg-Mission, which topped the list.","_key":"56322b2ca1a80"}],"_type":"block","style":"normal","_key":"4195e80369aa"}],"_id":"f6a6a79f-fc4d-4216-8fc5-df8c3b46efe3","_type":"story","title":"The Curious Case Of America’s Shrinking Middle Class","summary":"Stats show the rich get richer while the poor get poorer.","publishDate":"2024-06-08","slug":"/story/2024/06/the-curious-case-of-americas-shrinking-middle-class","image":{"asset":{"mimeType":"image/gif","source":{"name":"Nerd Math GIF by HannahWitton","id":"MvbGrLlwvDNISEEF0v","url":"https://giphy.com/gifs/HannahWitton-hannah-witton-MvbGrLlwvDNISEEF0v"},"assetId":"7af17a1dd1820750d35ab0f2b8996eabafa2130f","_createdAt":"2024-06-08T00:37:13Z","originalFilename":"ef5c3818-697e-4c82-a729-fa21316fa49c.gif","_type":"sanity.imageAsset","sha1hash":"7af17a1dd1820750d35ab0f2b8996eabafa2130f","size":2756014,"_id":"image-7af17a1dd1820750d35ab0f2b8996eabafa2130f-400x225-gif","extension":"gif","url":"https://cdn.sanity.io/images/8mioycse/v3/7af17a1dd1820750d35ab0f2b8996eabafa2130f-400x225.gif","path":"images/8mioycse/v3/7af17a1dd1820750d35ab0f2b8996eabafa2130f-400x225.gif","_updatedAt":"2024-06-08T00:37:13Z","metadata":{"isOpaque":true,"blurHash":"M7E.X}==005900}Y-no~R5E19}X.%1#7tl","_type":"sanity.imageMetadata","palette":{"_type":"sanity.imagePalette","darkMuted":{"foreground":"#fff","title":"#fff","population":2.33,"background":"#29484c","_type":"sanity.imagePaletteSwatch"},"muted":{"title":"#fff","population":3.21,"background":"#8a6b55","_type":"sanity.imagePaletteSwatch","foreground":"#fff"},"lightVibrant":{"foreground":"#000","title":"#fff","population":0.56,"background":"#eeb8a3","_type":"sanity.imagePaletteSwatch"},"darkVibrant":{"foreground":"#fff","title":"#fff","population":6.43,"background":"#52361b","_type":"sanity.imagePaletteSwatch"},"lightMuted":{"background":"#cbb1a0","_type":"sanity.imagePaletteSwatch","foreground":"#000","title":"#fff","population":6.63},"vibrant":{"title":"#fff","population":0.28,"background":"#ca8532","_type":"sanity.imagePaletteSwatch","foreground":"#fff"},"dominant":{"background":"#cbb1a0","_type":"sanity.imagePaletteSwatch","foreground":"#000","title":"#fff","population":6.63}},"hasAlpha":true,"lqip":"data:image/jpeg;base64,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","dimensions":{"width":400,"aspectRatio":1.7777777777777777,"height":225,"_type":"sanity.imageDimensions"}},"uploadId":"jIPpecJqsoHz7NAwbSnVLWmOZQK8GCyz","_rev":"1ClLZjTXhZNCk6cpMhMqkY"},"crop":{"left":0,"bottom":0,"_type":"sanity.imageCrop","right":0,"top":0},"hotspot":{"y":0.5,"height":0.9817351598173516,"_type":"sanity.imageHotspot","width":0.9280821917808216,"x":0.5},"_type":"image","attribution":"Giphy"},"category":"economy","visibility":"true","_createdAt":"2024-06-08T00:38:33Z","author":{"_ref":"phCNL32Gn","_type":"reference"},"_rev":"1ClLZjTXhZNCk6cpMhMrJ9"},{"summary":"It's been largely effective, but there are some pitfalls to consider.","id":"oIpaWRba","_updatedAt":"2024-05-24T22:52:58Z","_id":"89877da5-a0bc-4504-a484-4cc690bcc7cd","author":{"_ref":"phCNL32Gn","_type":"reference"},"_rev":"ZbsQdKV9uvr7y4rUgDtuPp","body":[{"_type":"block","style":"normal","_key":"10d28b263133","markDefs":[],"children":[{"text":"Whether you’ve tried to rent or buy a home recently, you’ve likely been faced with the twin problems of ","_key":"284a213b6c300","_type":"span","marks":[]},{"_key":"2463a260d850","_type":"span","marks":["strong"],"text":"limited availability and shockingly high prices"},{"_type":"span","marks":[],"text":". This ongoing crisis is playing out across the U.S. and around the world with few prospects for a short-term solution.","_key":"54b7cd01c253"}]},{"markDefs":[],"children":[{"_type":"span","marks":[],"text":"But some advocates are pushing for more public housing, or at least a public-private partnership that could cap prices and increase availability. Would such a system work in America?","_key":"27355173563a0"}],"_type":"block","style":"normal","_key":"926a86bb03d4"},{"_type":"block","style":"normal","_key":"fcf2a50c0586","markDefs":[{"_type":"link","href":"https://www.nytimes.com/2024/05/24/world/asia/singapore-public-housing-program.html","_key":"a3a41e325dd1"}],"children":[{"_type":"span","marks":[],"text":"In an attempt to answer that ","_key":"dfab60a5761b0"},{"_type":"span","marks":["a3a41e325dd1"],"text":"question","_key":"dfab60a5761b1"},{"_key":"dfab60a5761b2","_type":"span","marks":[],"text":", let’s take a look at how it’s been handled in one Southeast Asian nation."}]},{"markDefs":[],"children":[{"text":"A brief history lesson","_key":"39560abbd4c70","_type":"span","marks":["strong"]}],"_type":"block","style":"normal","_key":"b6a884f1887d"},{"_key":"7075e35313ad","markDefs":[],"children":[{"_key":"4424bf516ac10","_type":"span","marks":[],"text":"Singapore was beset by"},{"_type":"span","marks":["strong"],"text":" extreme poverty and unsustainable overcrowding","_key":"21d441da3e6f"},{"_type":"span","marks":[],"text":" during its first years as an independent nation. That presented many unique housing challenges that have taken decades to address.","_key":"9bb4fd9b1c8a"}],"_type":"block","style":"normal"},{"style":"normal","_key":"1eebfd944aff","markDefs":[],"children":[{"_type":"span","marks":[],"text":"But now, much of the nation is prosperous and many of its citizens have spacious and comfortable places to call home. Roughly","_key":"224aa6209e230"},{"_key":"81df8f892b13","_type":"span","marks":["strong"],"text":" half of Singapore’s 6 million citizens"},{"_type":"span","marks":[],"text":" are living in apartments that were built and subsidized by the government.","_key":"c81f257d4d0a"}],"_type":"block"},{"_key":"ed7768a2fa2a","markDefs":[],"children":[{"marks":[],"text":"Despite receiving public assistance, most of the residents consider themselves the owners of their affordable homes.","_key":"66a2311951d30","_type":"span"}],"_type":"block","style":"normal"},{"markDefs":[],"children":[{"_type":"span","marks":["strong"],"text":"Upside vs. downside","_key":"ce593d95d1c10"}],"_type":"block","style":"normal","_key":"8dec4abd0b33"},{"_type":"block","style":"normal","_key":"30a7d23556a0","markDefs":[],"children":[{"_type":"span","marks":[],"text":"In some ways, Singapore is a victim of its own success. If the U.S. hopes to replicate the positive attributes of this subsidized housing system, it should beware of the related pitfalls.","_key":"ab4fba7acf9c0"}]},{"_key":"30693c0ecaba","markDefs":[],"children":[{"_type":"span","marks":[],"text":"Most notably, there’s been a significant uptick in purchases by secondary buyers, which has served to push the prices of these apartments to new heights. More than 50 units have recently sold for","_key":"1e3b439272e40"},{"_key":"c0551674e924","_type":"span","marks":["strong"],"text":" the equivalent of $1 million "},{"_key":"d9cf7bb5afc4","_type":"span","marks":[],"text":"or more."}],"_type":"block","style":"normal"},{"_key":"a937f6428e7b","markDefs":[],"children":[{"_type":"span","marks":[],"text":"And “ownership” is a misnomer. In actuality,","_key":"0b094403739c0"},{"_type":"span","marks":["strong"],"text":" these are 99-year leases","_key":"32fa9a0366b4"},{"_type":"span","marks":[],"text":" after which time the government retains possession. That has caused many residents to worry that as the deadline draws nearer, the value of their apartments will plummet.","_key":"9c6a8242290f"}],"_type":"block","style":"normal"}],"publishDate":"2024-05-25","title":"What Can America Learn About The Housing Crisis From Singapore’s System?","_createdAt":"2024-05-24T22:52:58Z","image":{"_type":"image","attribution":"Giphy","asset":{"uploadId":"waaZn3WdvdbZaeOM9SmooJslDVHGaE5o","_rev":"2V2GcCpgZF1gey3uFLybu9","_type":"sanity.imageAsset","path":"images/8mioycse/v3/9a4307b76cf6142ca58f1aafdeb76fe2610c8452-480x270.gif","metadata":{"_type":"sanity.imageMetadata","palette":{"lightMuted":{"population":8.91,"background":"#e3d4e0","_type":"sanity.imagePaletteSwatch","foreground":"#000","title":"#000"},"vibrant":{"background":"#e0d928","_type":"sanity.imagePaletteSwatch","foreground":"#000","title":"#fff","population":9.19},"dominant":{"background":"#e0d928","_type":"sanity.imagePaletteSwatch","foreground":"#000","title":"#fff","population":9.19},"_type":"sanity.imagePalette","darkMuted":{"background":"#294322","_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff","population":0.76},"muted":{"population":8.8,"background":"#ad5b54","_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff"},"lightVibrant":{"background":"#dfc0a4","_type":"sanity.imagePaletteSwatch","foreground":"#000","title":"#fff","population":8.48},"darkVibrant":{"title":"#fff","population":2.41,"background":"#7f261b","_type":"sanity.imagePaletteSwatch","foreground":"#fff"}},"hasAlpha":true,"lqip":"data:image/jpeg;base64,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","dimensions":{"aspectRatio":1.7777777777777777,"height":270,"_type":"sanity.imageDimensions","width":480},"isOpaque":true,"blurHash":"MHKT#d0vI0MyrY^-4mE.SmR.1RMw%Kahxn"},"sha1hash":"9a4307b76cf6142ca58f1aafdeb76fe2610c8452","source":{"name":"Bob The Builder Animation GIF by Mashed","id":"0uyBKwR0YvsN0wozDs","url":"https://giphy.com/gifs/ThisIsMashed-animation-animated-mashed-0uyBKwR0YvsN0wozDs"},"size":202164,"_createdAt":"2024-05-24T22:51:04Z","extension":"gif","mimeType":"image/gif","url":"https://cdn.sanity.io/images/8mioycse/v3/9a4307b76cf6142ca58f1aafdeb76fe2610c8452-480x270.gif","assetId":"9a4307b76cf6142ca58f1aafdeb76fe2610c8452","_id":"image-9a4307b76cf6142ca58f1aafdeb76fe2610c8452-480x270-gif","_updatedAt":"2024-05-24T22:51:04Z","originalFilename":"b580d2ea-a06a-4c7c-b6ea-b0ac71089bf9.gif"},"crop":{"top":0,"left":0,"bottom":0,"_type":"sanity.imageCrop","right":0},"hotspot":{"x":0.5,"y":0.5,"height":1,"_type":"sanity.imageHotspot","width":0.9417808219178081}},"visibility":"true","slug":"/story/2024/05/what-can-america-learn-about-the-housing-crisis-from-singapores-system","category":"economy","_type":"story"},{"visibility":"true","_createdAt":"2024-05-20T23:41:06Z","id":"js1n2QbI","body":[{"markDefs":[],"children":[{"_type":"span","marks":[],"text":"There’s a host of economic data showing that many Americans are facing tough times. Debt is rising, late payments are becoming more common, and consumer prices remain stubbornly high.","_key":"744e396c3c9b0"}],"_type":"block","style":"normal","_key":"9f70bd0ad112"},{"_key":"3afb0812915e","markDefs":[{"_type":"link","href":"https://www.nbcnews.com/business/economy/are-consumers-pulling-back-spending-depends-ceo-ask-rcna153023","_key":"76171dba4f44"}],"children":[{"marks":[],"text":"But there’s one ","_key":"567c7046e2f30","_type":"span"},{"text":"statistic","_key":"567c7046e2f31","_type":"span","marks":["76171dba4f44"]},{"_type":"span","marks":[],"text":" that doesn’t seem to provide such clarity.","_key":"567c7046e2f32"}],"_type":"block","style":"normal"},{"markDefs":[],"children":[{"_type":"span","marks":["strong"],"text":"Pulling back or not?","_key":"31f8386fe1060"}],"_type":"block","style":"normal","_key":"1d15f7491382"},{"_key":"75f84e9e92c9","markDefs":[],"children":[{"_type":"span","marks":[],"text":"Corporate earnings season is in full swing, and the results thus far have provided quite a mixed bag of results. Some companies — McDonald’s, Starbucks, and Home Depot, among others — provided fuel for the common assumption that consumers are","_key":"0ea2fb8c6eba0"},{"_type":"span","marks":["strong"],"text":" pulling back on their spending","_key":"c1701e0898c9"},{"_type":"span","marks":[],"text":" as the formerly red-hot economy cools.","_key":"21121a466f15"}],"_type":"block","style":"normal"},{"markDefs":[],"children":[{"_type":"span","marks":[],"text":"Then there are others — like Delta Air Lines, for example — that have posted some surprisingly robust earnings numbers, seemingly in defiance of the prevailing economic sentiment.","_key":"2586f1eca6180"}],"_type":"block","style":"normal","_key":"2545e8ed4361"},{"style":"normal","_key":"3b6642231d02","markDefs":[],"children":[{"_key":"41c04d3f9e1b0","_type":"span","marks":[],"text":"In the end, this dichotomy of corporate earnings reflects the reality that consumer spending"},{"_type":"span","marks":["strong"],"text":" isn’t a black-and-white issue","_key":"3821096b8a25"},{"_type":"span","marks":[],"text":". Americans are still spending money, but they’re being more deliberate about where that cash is going.","_key":"893f12b23bcf"}],"_type":"block"},{"_key":"7a6852c986fc","markDefs":[],"children":[{"_type":"span","marks":[],"text":"McDonald’s CEO Chris Kempczinski was candid about this fact during recent remarks, noting that consumers are “even more discriminating with every dollar that they spend” in light of the current situation.","_key":"2225421955f70"}],"_type":"block","style":"normal"},{"_type":"block","style":"normal","_key":"3808e28e8f39","markDefs":[],"children":[{"_type":"span","marks":["strong"],"text":"“People get a daily reminder”","_key":"8aa23a766b7d0"}]},{"style":"normal","_key":"653af8eff8d5","markDefs":[],"children":[{"_type":"span","marks":[],"text":"Even though some companies seem to be defying the economic cooldown, the cold facts paint a rather stark image.","_key":"33810cf46a2d0"}],"_type":"block"},{"_type":"block","style":"normal","_key":"dfe472f2e29a","listItem":"bullet","markDefs":[],"children":[{"_key":"505ca16601330","_type":"span","marks":[],"text":"The latest consumer price index shows inflation at an"},{"text":" annual rate of 3.4%","_key":"ac9bd9ca3b16","_type":"span","marks":["strong"]}],"level":1},{"listItem":"bullet","markDefs":[],"children":[{"_key":"744f46e28e6a0","_type":"span","marks":[],"text":"Interest rates are at historic highs with"},{"_type":"span","marks":["strong"],"text":" no sign of immediate relief","_key":"d1be73b15685"},{"_type":"span","marks":[],"text":" in sight","_key":"26305db722dc"}],"level":1,"_type":"block","style":"normal","_key":"fffa1f0d3c48"},{"_key":"d48a2ba30027","listItem":"bullet","markDefs":[],"children":[{"marks":[],"text":"Average credit card debt has","_key":"e0bded719fc40","_type":"span"},{"_type":"span","marks":["strong"],"text":" topped $6,200","_key":"4099ab38841b"},{"_type":"span","marks":[],"text":" for an 8.5% annual increase","_key":"37e637f7854e"}],"level":1,"_type":"block","style":"normal"},{"_type":"block","style":"normal","_key":"d514f37fa198","markDefs":[],"children":[{"_type":"span","marks":[],"text":"All of these factors and more reveal why consumers are becoming more selective in their spending habits.","_key":"916c76c988c20"}]},{"_key":"f021a69972f6","markDefs":[],"children":[{"_type":"span","marks":[],"text":"“Regardless of whether inflation is slowing amongst those goods, even with lower inflation, prices remain very high, and people get a daily reminder of that,” concluded economics professor Brett House.","_key":"9d2f30ce9e330"}],"_type":"block","style":"normal"}],"slug":"/story/2024/05/why-corporate-execs-cant-seem-to-agree-on-consumer-spending-trends","_updatedAt":"2024-05-20T23:41:06Z","category":"economy","_rev":"0jElmWcKbUR29r00c2kh02","summary":"On the surface, it seems to be a tale of two economies. ","author":{"_ref":"phCNL32Gn","_type":"reference"},"title":"Why Corporate Execs Can’t Seem To Agree On Consumer Spending Trends","_id":"a2af91f4-c491-40e8-bc29-7b393ef0f015","image":{"_type":"image","attribution":"Giphy","asset":{"source":{"name":"Make It Rain Money GIF by StickerGiant","id":"sxk1pk0Mf98THzZcEJ","url":"https://giphy.com/gifs/stickergiant-sticker-giant-sxk1pk0Mf98THzZcEJ"},"url":"https://cdn.sanity.io/images/8mioycse/v3/aed3c338b747f948c3ea1586aafbc755cdc66019-480x270.gif","size":1994757,"mimeType":"image/gif","path":"images/8mioycse/v3/aed3c338b747f948c3ea1586aafbc755cdc66019-480x270.gif","_id":"image-aed3c338b747f948c3ea1586aafbc755cdc66019-480x270-gif","_updatedAt":"2024-05-20T23:39:50Z","extension":"gif","_rev":"0jElmWcKbUR29r00c2kfWa","sha1hash":"aed3c338b747f948c3ea1586aafbc755cdc66019","assetId":"aed3c338b747f948c3ea1586aafbc755cdc66019","_createdAt":"2024-05-20T23:39:50Z","metadata":{"_type":"sanity.imageMetadata","palette":{"lightMuted":{"background":"#cba098","_type":"sanity.imagePaletteSwatch","foreground":"#000","title":"#fff","population":1.15},"vibrant":{"population":0.57,"background":"#af3537","_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff"},"dominant":{"_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff","population":20.41,"background":"#3c3c4c"},"_type":"sanity.imagePalette","darkMuted":{"population":20.41,"background":"#3c3c4c","_type":"sanity.imagePaletteSwatch","foreground":"#fff","title":"#fff"},"muted":{"title":"#fff","population":0.02,"background":"#af695c","_type":"sanity.imagePaletteSwatch","foreground":"#fff"},"lightVibrant":{"foreground":"#000","title":"#fff","population":11.79,"background":"#80a6cb","_type":"sanity.imagePaletteSwatch"},"darkVibrant":{"title":"#fff","population":0,"background":"#651e1f","_type":"sanity.imagePaletteSwatch","foreground":"#fff"}},"hasAlpha":true,"lqip":"data:image/jpeg;base64,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","dimensions":{"height":270,"_type":"sanity.imageDimensions","width":480,"aspectRatio":1.7777777777777777},"isOpaque":true,"blurHash":"MNEyY]VXITOYEMXp-oVsWWN_.TM_%LWXtR"},"uploadId":"nuTUokN4mVgHyYHCpRiKt4bJejJoet7a","_type":"sanity.imageAsset","originalFilename":"fb79d23a-34f8-446c-93b5-dfb0e40e2ca7.gif"},"crop":{"bottom":0,"_type":"sanity.imageCrop","right":0,"top":0,"left":0},"hotspot":{"_type":"sanity.imageHotspot","width":0.9383561643835614,"x":0.5,"y":0.5,"height":1}},"_type":"story","publishDate":"2024-05-21"}]