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- BusinessBenzinga
Incomes Stagnate, Home Prices Soar: The Dilemma Of Affordable Housing
The growing chasm between household income and the escalating costs of homeownership underscores a pressing economic challenge many people face in achieving the American dream of owning a home. For the average U.S. household to afford the median-priced home, it needs to earn about $30,000 more than it does now, according to a recent report from real estate brokerage Redfin. Although that's concerning, it's an improvement from October, when the typical household needed nearly $41,000 more income
3 min read - BusinessAssociated Press
Average long-term US mortgage rate falls slightly, easing borrowing costs for home shoppers
The average long-term U.S. mortgage rate fell slightly this week, welcome news for home shoppers facing rising prices and a stubbornly low inventory of properties on the market this spring homebuying season. The average rate on a 30-year mortgage slipped to 6.79% from 6.87% last week, mortgage buyer Freddie Mac said Thursday. A year ago it averaged 5.56%, Freddie Mac said.
3 min read - BusinessBBC
Thames Water boss says bills need to rise by 40%
The regulator, whose approval is needed for any price rises, has pushed back on substantial bill increases.
4 min read - BusinessAutoweek
Canoo Is Buying Up This EV Startup’s Production Equipment
Volume production at Canoo’s Oklahoma factory has yet to gain momentum, even as orders come in. Other electric van rivals include BrightDrop and Rivian.
3 min read - BusinessThe Telegraph
Baltimore Bridge collapse to trigger one of the biggest insurance losses in history
The Baltimore bridge collapse will trigger one of the largest insurance losses in history, Lloyd’s of London has warned.
2 min read - BusinessAFP
Sam Bankman-Fried, the fallen wunderkind of cryptocurrency
He was the face of cryptocurrency, and a young one at that -- a media darling seemingly destined to unite the sector.The young man known as SBF would charm US lawmakers with his straight talk and vision of crypto's future, including recommendations for an extensive regulatory regime -- a position at odds with many in the sector.
4 min read - BusinessAssociated Press Finance
Walgreens books hefty charge as the drugstore chain adjusts the value of struggling clinics
Walgreens lost nearly $6 billion in its second quarter mainly due to a drop in value for the VillageMD clinic business it controls. Excluding that charge, the drugstore chain reported results Thursday that topped Wall Street expectations. Walgreens spent more than $5 billion a few years ago to acquire a majority stake in VillageMD and launch a plan to add hundreds of clinics to its stores and grow its ability to provide care.
2 min read