US Wages Still Trailing Inflation, New Bankrate Study Shows
According to Bankrate's 2025 Wage to Inflation Index, Americans' rise in earnings is, on average, 1.2 percentage points below the rise in the cost of living since January 2021.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
an hour ago
- Yahoo
Toll Misses Estimates on Orders in Challenging US Housing Market
(Bloomberg) -- Luxury builder Toll Brothers Inc. missed analysts' estimates for quarterly orders as affordability challenges and economic uncertainty held back buyers. Why New York City Has a Fleet of New EVs From a Dead Carmaker Chicago Schools Seeks $1 Billion of Short-Term Debt as Cash Gone A Photographer's Pipe Dream: Capturing New York's Vast Water System A London Apartment Tower With Echoes of Victorian Rail and Ancient Rome Trump Takes Second Swing at Cutting Housing Assistance for Immigrants The company reported 2,388 signed contracts for the three months through July, down 4% from a year earlier, according to a statement Tuesday. Analysts were expecting 2,583, the average in a survey compiled by Bloomberg. Toll projected completed sales of 11,200 homes in its full fiscal year, scaling back its previous forecast for 11,200 to 11,600 deliveries. Analysts expected 11,340. Key Insights President Donald Trump's trade wars have unnerved some US consumers who may be holding off on large purchases such as homes. The job market has recently showed signs of a cooldown, giving would-be buyers more reason to hesitate. Toll has broadened its choices to include more-affordable luxury homes. Mortgage rates that stuck close to 7% through the quarter may be sidelining prospective buyers for those properties. Still, many of Toll's customers are move-up buyers who can afford to pay cash after selling a previous home at a big profit. 'While affordability pressures and uncertain economic conditions persist, we are pleased with the resilience of our luxury business and more affluent customer base,' Chief Executive Officer Douglas Yearley Jr. said in the statement. 'We continue to focus on strategically balancing price and pace in order to maximize profitability and returns.' The company beat analysts' estimates on profit margins. Toll's adjusted gross margin on home sales in the quarter was 27.5%. Analysts were expecting 27.3%. Market Reaction The shares fell slightly in late trading. They had climbed 5% this year through through Tuesday's close, compared with a 12% gain in an S&P index of homebuilders. Get More The company has scheduled a conference call for 8:30 a.m. New York time Wednesday to discuss the results. Foreigners Are Buying US Homes Again While Americans Get Sidelined What Declining Cardboard Box Sales Tell Us About the US Economy Women's Earnings Never Really Recover After They Have Children Americans Are Getting Priced Out of Homeownership at Record Rates Yosemite Employee Fired After Flying Trans Pride Flag ©2025 Bloomberg L.P. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
The Hill
an hour ago
- The Hill
Novo Nordisk, GoodRx selling Ozempic at half cost for customers paying cash
Novo Nordisk and GoodRx announced a partnership this week to sell products Ozempic and Wegovy at half their normal cost to patients who pay for the medications with cash. Starting this week, customers will be able to buy a month's supply of Novo Nordisk's semaglutide pen products for $499 through GoodRx. The list price for a monthly supply of a product like Ozempic is normally around $1,000 or more without insurance. 'Demand for GLP-1 medications is at an all-time high, but too many Americans still face barriers accessing them,' GoodRx CEO and President Wendy Barnes said in a statement. 'By partnering with Novo Nordisk, we're taking a significant step forward in making these innovative brand-name treatments more accessible for millions of people who need them,' added Barnes. 'It's a powerful example of how the GoodRx platform can deliver savings at scale—bridging gaps in coverage and ensuring more people can get the care they deserve.' This is the most recent in similar moves Novo Nordisk has made to make its popular diabetes and weight loss medication more widely available. Earlier this year, the company announced a direct-to-patient program called NovoCare® Pharmacy for uninsured and underinsured individuals who can pay $499 a month for Wegovy. Novo Nordisk also partnered with online telehealth companies like Ro and LifeMD to sell its pens at the same price point. The telehealth company Hims & Hers was also originally included in the partnership, but Novo Nordisk ended it after accusing the company of illegally selling compounded versions of semaglutide. Hims & Hers maintains it is providing personalized, compounded products within regulatory guidelines. 'Improving access to effective FDA-approved treatment is central to our mission, and our collaboration with GoodRx allows us to reach those who seek savings and support from their trusted and established platform,' Dave Moore, executive vice president of U.S. operations of Novo Nordisk, said in a statement. 'This initiative enables us to meet GoodRx patients where they are with our authentic GLP-1 medicines in addition to supporting the launch of the new Ozempic® self-pay offer for type 2 diabetes patients at an unprecedented price.' Sen. Bernie Sanders (I-Vt.), a prominent critic of high drug costs, called the announcement a 'modest step forward.' 'Novo Nordisk's move to cut the price of Ozempic to $499 for the uninsured is a modest step forward, but let's not forget,' Sanders said on the social media platform X. 'Ozempic costs just $59 in Germany while it costs less than $5 to make. The U.S. must no longer pay the highest prices in the world for prescription drugs.
Yahoo
an hour ago
- Yahoo
Grant Cardone Insists A Home Is 'Not An Investment, It's An Expense, By Definition' — 'I'd Rather Pay $2400 in Rent Than $2400 in Mortgage'
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Grant Cardone has built a multibillion-dollar real estate empire, but he has no interest in owning the roof over his head. The outspoken investor, known for buying and managing thousands of rental units, chooses to rent his primary residence—and says you should, too. "I'd rather pay $2,400 in rent than $2,400 in mortgage," he said in an interview with YouTuber Kevin Cooney, a clip that's since made the rounds on TikTok. "Because I can get out of that rent every 10 months. That mortgage is 30 years." For most Americans, owning a home is the cornerstone of the American Dream. For Cardone, it's just a liability wrapped in granite countertops. He doesn't see the place you live in as a financial asset at all. Don't Miss: The same firms that backed Uber, Venmo and eBay are investing in this pre-IPO company disrupting a $1.8T market — and you can too at just $2.90/share. Warren Buffett once said, "If you don't find a way to make money while you sleep, you will work until you die." Here's how you can earn passive income with just $100. "If you live in your home and you pay the expenses of the home, that is not an investment," he told Cooney. "That is an expense by definition. And by the way, your home should not even go on your net worth statement." Cooney agreed, pointing out the hidden costs that often blindside homeowners. "Our refrigerator breaks, I put a little thing in our portal; new fridge is getting dollied up there," he said. "It's a fixed cost." He added that a friend of his always busts his chops for paying $4,700 in rent while the friend pays $3,500 on a mortgage—but for him, not having to deal with repairs or surprise expenses is worth the premium. Cardone backed him up, saying that friend isn't doing the full math. "He's not counting his HOA fees, he's not counting property taxes, he's not counting out-of-control insurance, he's not counting maintenance," he said. "It's 1% a year. Property taxes 2% a year. So that's 3 points every year." And then there's the mortgage interest. "Pick a number. They all suck dude," he added, referring to rates that can range from 3 to 7 percent. Those costs aren't imaginary. According to Bankrate, the hidden expenses of owning a single-family home now average over $21,000 per year—before mortgage payments. From property taxes to repairs, it's a long list of things that drain your wallet without building equity. Cardone's stance isn't about avoiding debt—it's about who's paying it. "I would rather pay 7% on a mortgage that a renter pays than 3% on my home that I pay," he said. In other words, he's fine with high interest—as long as someone else is covering it. It's a mindset he's repeated for years. In a 2019 interview with DJ Vlad, Cardone delivered one of his most memorable one-liners: "I treat houses like hospitals—you get in, you get out." His reasoning was blunt. "You could live in a house for 15 years with a 30-year mortgage and still owe what the house was worth when you bought it—or worse." Critics are quick to point out that Cardone profits directly from this philosophy. By encouraging the public to rent, he widens the pool of tenants for the very properties he owns. The cash flow goes to him, not the renters. But even if his motives are self-serving, the model is hard to argue with—own the asset, rent it out, and let someone else build your wealth. That formula used to be reserved for moguls with deep pockets and a Rolodex of property managers. Arrived lets regular people get in on the game—owning slices of rental homes without lifting a wrench or hunting down tenants. You can get started with as little as $100, while they handle the headaches and you collect the passive income. Cardone isn't dismissing the value of homeownership—if buying a house aligns with your goals, that's great. He's simply pointing out that renting doesn't deserve the stigma it often carries. For some, it's the smarter financial move. For others, it's about flexibility, avoiding repair headaches, or not wanting to chase down contractors every time something breaks. Maybe it's about not being tied to a mortgage when life changes. Whatever the reason, owning isn't the only path—and renting doesn't make you any less savvy for choosing it. See Next: This HELOC lender lets you borrow, repay, and borrow again —. 'Scrolling To UBI' — Deloitte's #1 fastest-growing software company allows users to earn money on their phones. You can invest today for just $0.30/share. This article Grant Cardone Insists A Home Is 'Not An Investment, It's An Expense, By Definition' — 'I'd Rather Pay $2400 in Rent Than $2400 in Mortgage' originally appeared on
