Latest news with #9innings
Newsweek
a day ago
- Business
- Newsweek
Home Prices Are Predicted to Drop by 5 Percent or More in These Cities
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. Home prices are anticipated to decline by 5 percent or more in 10 metro area housing markets, according to a new report from Zillow. The real estate marketplace predicted that home prices would drop between April 2025 and April 2026 in large cities such as New Orleans, San Francisco, and Austin. Why It Matters Home prices have remained high across the country, with a nationwide median home sales price of $410,800 as of the second quarter of 2025, according to the Motley Fool. Recent data from the National Association of Realtors showed that median home prices rose to $435,300 in June. That marks a record high for June and the 24th consecutive month of year-over-year increases. A for sale sign is displayed outside of a home in Los Angeles on August 16, 2024. A for sale sign is displayed outside of a home in Los Angeles on August 16, 2024. PATRICK T. FALLON/AFP via Getty Images What To Know Zillow predicted the weakest home appreciation in the following 10 metro areas: Houma, LA → -9.6 percent Lake Charles, LA → -9.5 percent Alexandria, LA → -8.0 percent New Orleans, LA → -7.2 percent Lafayette, LA → -7.0 percent Shreveport, LA → -6.9 percent Beaumont, TX → -6.5 percent San Francisco, CA → -6.1 percent Austin, TX → -5.1 percent Corpus Christi, TX → -5.0 percent The prominence of Louisiana cities on the list reveals the state's overall population decline, experts say. "Louisiana is one of just six states that shrunk in population from 2014 to 2024 (by about 1 percent), so if this trend continues, there will be limited demand for home purchases in the next few years across the state," Joel Berner, senior economist at told Newsweek. "Louisiana, like much of the rest of the South, is seeing an increase in the number of homes for sale, up 10 percent year over year this June. Weaker demand and expanding supply will yield low price growth." Kevin Thompson, the CEO of 9i Capital Group and host of the 9innings podcast, said the local economies within the state are likely to feel the fallout from the real estate trends as well. "My reaction is that Louisiana is about to get worse before it gets better. When housing prices fall, the economies typically slow," Thompson told Newsweek. Nationwide, Zillow said U.S. home prices would likely fall by 1 percent between June 2025 and June 2025. Zillow originally predicted home prices to grow by 2.6 percent heading into 2025, but many housing markets softened faster than anticipated. "The rise in [active] listings is fueling softer [home] price growth, as greater supply provides more options and more bargaining power for buyers," Zillow economists wrote in March. "Potential buyers are opting to remain renters for longer as affordability challenges suppress demand for home purchases." What People Are Saying Joel Berner, senior economist at told Newsweek: "In the end, it seems like all the places on this list are experiencing retractions in home demand, which in a place like Austin, where new construction is strong and a surge of existing homes are hitting the market certainly has the chance to drive prices down." "It's hard to say what to expect nationwide because of the wide divergence in market conditions from metro to metro and region to region. Buyers in the Northeast, where supply is constrained and demand remains strong, should not expect to see any retreat in prices. Buyers in the South may take note of the current price trends and decide that now is a good time to make a purchase." Kevin Thompson, the CEO of 9i Capital Group and host of the 9innings podcast, told Newsweek: "This should not have an impact nationally as certain cities may see a slowdown, as they should, but not an outright decline. Housing prices rose rapidly due to the amount of stimulus, migrations, and remote work, but now much of that money has been spent, while prices are starting to correct." Nationwide title and escrow expert Alan Chang told Newsweek: "The majority of the list is Louisiana property which makes me think this may largely be about the high cost and limited availability of homeowner's insurance. In recent years, there has been reduced availability of affordable insurance due to flooding and weather related damages putting some insurers out of business." What Happens Next If housing prices continue to fall, there could be long-term consequences for these real estate markets, Thompson said. "My main concern is what happens next if prices fall too much," Thompson said. "Will this incentivize those larger institutions to continue to buy up swaths of homes for long term leases and further deplete inventory for single homeowners?"
Newsweek
4 days ago
- Business
- Newsweek
Families Going Into Debt for Back-to-School Supplies Jumps by Double Digits
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. Forty-four percent of parents plan to incur debt to cover school supplies—a 10-percentage-point increase from 2024—a new survey by Intuit Credit Karma found. Parents cited concerns over new tariffs as major sources of financial strain ahead of the new academic year, marking a double-digit increase in households going into debt compared to 2024. Why It Matters Back-to-school shopping is traditionally a significant annual expense, but this year's costs have become more burdensome for U.S. parents. The rise comes amid heightened inflation and looming tariff increases, which have contributed to sharp price hikes for school essentials and prompted families to alter spending habits and cut back on necessities. The trend reflects deeper economic challenges as families grapple with higher living costs, stagnant wages and policy changes. It also signals that inflation and tariff policies can have a direct impact on American households, especially those with children in school. Teacher Liza Gleason shops for back-to-school supplies at a Target store on August 13, 2008, in Daly City, California. Teacher Liza Gleason shops for back-to-school supplies at a Target store on August 13, 2008, in Daly City, To Know This year, 39 percent of Intuit Credit Karma's surveyed parents with school-age children said they cannot afford back-to-school shopping—an increase from 31 percent the previous year. Other surveys confirm the cost pressure, with one Bankrate report noting that about 20 percent of parents feel budget strain from school shopping. Key school supplies, including backpacks, cost significantly more this year, with parents attributing price increases to inflation and President Donald Trump's new tariffs. "Tariffs on imports have driven up the cost of back-to-school essentials like book bags, clothes and supplies," Kevin Thompson, the CEO of 9i Capital Group and the host of the 9innings podcast, told Newsweek. "While apparel prices are down slightly—about 0.5 percent over the past 12 months—that's being completely offset by rising prices in other categories." While the full impact of the tariffs has not yet been felt, concerns remain that prices could rise further after the August 1 deadline, when tariffs as high as 50 percent will hit several countries. Retail industry experts confirmed that families are responding by shopping earlier than in previous years, seeking discounts and alternative brands to manage costs. To manage back-to-school expenses, parents reported employing various savings strategies in the Intuit Credit Karma survey: 73 percent are comparison shopping, 69 percent are buying from discount stores, 44 percent are relying on buy now, pay later services, and 41 percent are choosing hand-me-downs. More than half of parents (54 percent) are sacrificing necessities such as groceries to ensure their children have needed school supplies. Additionally, 61 percent are using back-to-school sales to purchase holiday gifts simultaneously. More than half of parents, particularly those with multiple children, said back-to-school shopping is a major source of anxiety. High living costs prompt parents not only to take on debt but also to forgo after-school activities, with 45 percent unable to afford extracurricular programs this year, forcing some to consider cutting work hours or leaving jobs. What People Are Saying Alex Beene, a financial literacy instructor for the University of Tennessee at Martin, told Newsweek: "It's incredibly concerning. Credit card debt in general has seen fresh highs in the years following the pandemic, as inflationary pressures and stagnant wage growth have caused many Americans to look to consumer debt to fill the gaps. "Typically, for back-to-school season, this isn't as much of a problem, as retail runs aggressive sales and some states offer tax-free shopping on back-to-school items to help parents prepare their children for the year ahead. The fact that there's a share rise in debt usage speaks to just how financially fragile many consumers are at the moment." Kevin Thompson, the CEO of 9i Capital Group and the host of the 9innings podcast, told Newsweek: "This rise in the cost of goods hasn't been good for the average family. When you can't walk out of a grocery store without a receipt showing three digits before the decimal, that's a real issue. Sure, we're seeing some disinflation in categories like meat and other staples, but prices aren't coming down." Drew Powers, the founder of Illinois-based Powers Financial Group, told Newsweek: "Inflation has hit American families hard, and back-to-school shopping is only getting more expensive. Electronics like powerful calculators and handhelds, items that were once luxuries, are now required technology. But we also have a spending problem. Parents do not want their children to be the ones without, so they succumb to fad purchases on top of the necessities." What Happens Next Consumers are bracing for a potential price hike if Trump's paused tariffs take full effect on August 1. "My advice to parents struggling with how to keep up with demanding school lists and social media fads is to start with the necessities, then move to the fad purchases one at a time," Powers said. "Does your kid need yet another water bottle, backpack, zipper pull and full wardrobe all at once? No. Buy slowly as your budget allows." Retail analysts anticipate additional increases in school supply costs should tariffs proceed, intensifying the strain on families. "Long term, this is going to continue ripping through lower- and middle-income households," Thompson said, "and by the time upper-middle and higher-income families start to really feel it, it may already be too late."
Newsweek
21-07-2025
- General
- Newsweek
Major Swimming Pool Recall After 9 Deaths
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. Around 5 million swimming pools are being recalled after nine deaths were reported related to compression straps that could allow a child to access the pools and drown. The U.S. Consumer Product Safety Commission (CPSC) and Bestway (Hong Kong) International Ltd. (China) and Bestway (USA) Inc. (Chandler, Arizona) (Bestway), Intex Recreation Corp. (Long Beach, California) and Polygroup North America Inc. (El Paso, Texas) all announced the recalls Monday for their 48-inch and taller above-ground pools with compression straps. "While some consumers may ignore certain recalls, this is certainly one to take seriously," Alex Beene told Newsweek. Why It Matters With summer temperatures averaging into the 80s in places like Texas and Louisiana, many Americans have purchased new pools to soak off the sun with. However, depending on design flaws, your new pool could pose significant safety risks, especially if you have a small child in your home. Every year in the United States, there are over 4,000 unintentional drowning deaths, according to the Centers for Disease Control and Prevention. And notably, more children ages 1-4 die from drowning than from any other cause of death. What To Know Consumers should take note of the recall if they own a 48-inch and taller above-ground pool with compression straps running on the outside. Stock image of a child jumping off a ladder into an above-ground pool. Stock image of a child jumping off a ladder into an above-ground pools were recalled as the compression strap that surrounds the outside of the pool legs may create a foothold, allowing a child access to the pool and posing a drowning risk, according to the U.S. Consumer Product Safety Commission. Even with the ladder removed, children could still be able to gain access to the pool. "These pools are being recalled because the design still allows small children to access the water using foot holds on the sides — even when the ladder is removed. Tragically, this flaw has led to 9 reported child deaths across the country," Kevin Thompson, the CEO of 9i Capital Group and the host of the 9innings podcast, told Newsweek. "They now pose a serious drowning hazard and are being pulled from the market." So far, nine children between the ages of 22 months and 3 years old have drowned after gaining access to the pools via the footholds, the commission found. The drownings happened in California, Texas, Florida, Michigan, Wisconsin and Missouri between 2007 and 2022. There were also at least three other incidents in 2011 and 2012 where children gained access to the pools due to the compression strap. Affected consumers should contact Bestway, Intex and Polygroup to get a free repair kit to reverse the design flaw. The pool models sized 48 inches and taller involved in the recall include: Power Steel, Steel Pro, Coleman Power Steel, Metal Frame Pools, Ultra Frame Pools, Prism Frame Pool, Ultra XTR Frame Pool, Summer Waves, Summer Escapes, Funsicle, Sand n Sun and Blue Wave. The products have been sold at stores like Walmart, Target, Home Depot, Costco and Amazon since 2002. What People Are Saying Kevin Thompson, the CEO of 9i Capital Group and the host of the 9innings podcast, told Newsweek: "There will absolutely be lawsuits and restitution paid to affected families. The core issue is that the pools were not supposed to be accessible to small children without a ladder — yet kids still found a way in. I don't see this leading to bankruptcy, but the fallout will likely include a spike in insurance premiums and an increase in operational costs. Add to that the reputational hit, and the long-term impact on the brand could be significant." Alex Beene, a financial literacy instructor for the University of Tennessee at Martin, told Newsweek: "While some consumers may ignore certain recalls, this is certainly one to take seriously. Bestway, Intex, and Polygroup are recalling certain above-ground pools that have been cited as presenting drowning risks. In fact, nine deaths have been reported due to this factor. These above-ground pools are very popular, with over 5 million having been sold." What Happens Next If you purchased one of the impacted pools, you should immediately contact the brands for the repair kit to be delivered. Delaying could cause unintended accidents and even drownings for consumers or their friends and family, Beene said. "If you own one, take this recall seriously and reach out to one of the three companies for next steps on how to deal with this issue," Beene said.
Newsweek
17-07-2025
- Business
- Newsweek
These Are the Cities Where Retirees Need the Most Cash on Top of Social Security
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. Retirees rely on Social Security across the country to help pay for basic living expenses, but the amount of money they need on top of their monthly benefits varies drastically based on where they live. In a new LendingTree report, cities were ranked on where Social Security goes the furthest for seniors as well as the states that required the most amount of money on top of the benefits to meet their basic needs. Why It Matters Social Security lifts more than 22 million people out of poverty each year, according to Justice in Aging. And half of older adults rely on Social Security for the majority of their income. However, with the average retirement benefit check at $2,002 in 2025, many seniors aren't able to make this money stretch for their full monthly needs. Cost of living, housing prices and inflation within their specific location can significantly impact their overall quality of life as well if mostly relying on their Social Security check. Pedestrians walk past the Social Security Administration office in downtown Los Angeles, on October 1, 2013. Pedestrians walk past the Social Security Administration office in downtown Los Angeles, on October 1, 2013. FREDERIC J. BROWN/AFP via Getty Images What To Know On average, Social Security covers roughly 30 percent of retirees' spending, LendingTree found. Across the 100 largest U.S. metros, retirees needed about $71,407 to survive, while the average Social Security income is $21,500. However, your specific city and state could play a major role in how far your payment stretches. In a place like McAllen, Texas, Social Security covers more than one-third of retirement spending, which is estimated at $61,821. Other cities that were ranked best for Social Security beneficiaries included Buffalo, New York; El Paso, Texas; Syracuse, New York; and Scranton, Pennsylvania. "You often hear that the cost of living in New York is burdensome, but what many forget is that New York is more than just Manhattan and the five boroughs," Kevin Thompson, the CEO of 9i Capital Group and host of the 9innings podcast, told Newsweek. "Cities like Buffalo and Syracuse frequently rank among the most affordable places to live, even though they're part of a state known for its high costs." However, some cities left retirees scrambling for cash, even with the average Social Security check mailed out monthly. The worst cities for Social Security beneficiaries to make their payment stretch far enough were: San Francisco, California; Los Angeles, California; Washington, D.C.; Oxnard, California; and San Jose, California. "It shouldn't be surprising to see that Social Security doesn't go very far in the biggest, most expensive cities in America," Matt Schulz, LendingTree chief consumer finance analyst, told Newsweek. "However, the fact that Social Security doesn't cover more than about a third of spending costs in any big city in America is pretty sobering. It means no matter where you live, you better have a pension or some significant money set aside or retirement could be a major struggle financially." California, known for its high cost of living, saw an implied pretax need as high as $85,364 for retirees in San Francisco. Meanwhile, in Los Angeles, residents would still need $83,414 in retirement. "Very few people can comfortably say they'll have plenty of money to retire on regardless of what happens to Social Security," Schulz said in the report. "Knowing that, the more you can put into retirement savings and the longer you can do it, the better off you'll be." What People Are Saying Matt Schulz, LendingTree chief consumer finance analyst, in the report: "Most aren't fortunate enough to have a seven-figure nest egg or a pension to lean on. Most people have tight budgets, limited expendable income and low retirement account balances. It's all going to add up to a challenging situation for retirees and their loved ones in the next 15 to 20 years." Alex Beene, a financial literacy instructor for the University of Tennessee at Martin, told Newsweek: "States like Texas and Oklahoma ranking highest on locations where social security covers the highest amount of retirees' spending, should come as no surprise, as expenses in retirement in these areas tend to be less when compared to the national average. "Meanwhile, California ranks as a smaller percentage, in part because many retirees there have greater expenses and have larger nest eggs at retirement. It's good fuel for thought as many baby boomers enter retirement and pick locations where their savings will stretch further." What Happens Next As the cost of living rises, many retirees may be forced to move out of states like California, experts said. "As retirees evaluate where to live, many may be forced to decide between the California lifestyle and more cost-effective alternatives," Thompson said. "I've traveled to California several times recently and completely understand the appeal—the weather, the natural beauty, the air quality and overall lifestyle are unmatched. But for many retirees, that lifestyle comes with a price tag that simply isn't sustainable. For some, the cost of living may become a barrier they can no longer afford to ignore."
Newsweek
17-07-2025
- Business
- Newsweek
KFC Announces Major Change to Menu
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. Kentucky Fried Chicken (KFC) has announced a significant update to its U.S. menu with the introduction of fried pickles alongside a nationwide promotion offering free buckets of chicken to eligible customers. The campaign, branded as the "Kentucky Fried Comeback," aims to reestablish KFC's position in the highly competitive fast-food chicken market. "They're trying to win back the American customer by offering an incentive to get them back in the store," one expert told Newsweek. Why It Matters KFC has faced increased competition from other chicken-focused fast-food brands, prompting operational improvements and menu innovations. The menu changes follow KFC's efforts to address customer feedback on quality and taste and signal a renewed focus on flavor and trend-forward offerings. The KFC corporate logo is displayed on a sign at their restaurant on January 31, 2025 in San Diego, California. The KFC corporate logo is displayed on a sign at their restaurant on January 31, 2025 in San Diego, to Know KFC's new fried pickles can be ordered as a side and are paired with the brand's Comeback Sauce or ranch dressing, KFC said in its release. Additionally, the company reintroduced its $7 Fill Ups meal deals. To further entice customers, KFC is providing a free bucket of eight pieces of chicken or tenders to customers who spend at least $15 through the KFC app or website and are members of the KFC Rewards program. The company is urging customers to "try our chicken, tell us what you think and help co-create this comeback." "We're well aware of the latest fried chicken rankings, and I'm fired up to launch a bold Kentucky Fried Comeback and remind America exactly who we are," Catherine Tan-Gillespie, President of KFC U.S., said in the company's press release. "If people can give their ex a million second chances, I hope our fans can give us one." KFC's "Comeback Era" leverages nostalgia by putting Colonel Sanders front and center in advertising, now with a more serious expression reflecting the company's "relentless pursuit of the best fried chicken." "KFC is seeing a drop in revenue, with a reported 1 percent decline in same-store sales in the U.S. from the year prior," Kevin Thompson, the CEO of 9i Capital Group and the host of the 9innings podcast, told Newsweek. "They're trying to win back the American customer by offering an incentive to get them back in the store." Newsweek reached out to KFC for comment via email. WalletHub writer and analyst Chip Lupo said the 'Kentucky Fried Comeback' couldn't come at a more critical time for the brand. With fast food prices rising 47 percent over the past decade, many Americans, particularly in states like Kentucky, Mississippi, and New Mexico are feeling the financial strain of what used to be an affordable indulgence, he said. In Kentucky alone, residents spend nearly 0.5 percent of their monthly income on just one fast-food meal for the family, according to WalletHub. What People Are Saying Kevin Thompson, the CEO of 9i Capital Group and the host of the 9innings podcast, told Newsweek: "This strategy isn't new. They want people to sign up for their rewards program to access a "free chicken bucket" deal. This is nothing more than classic data mining in my opinion. Companies have finally caught on that customer data is the new gold." Alex Beene, a financial literacy instructor for the University of Tennessee at Martin, told Newsweek: "KFC's decision to give out 'free' buckets of chicken should come as no surprise. The fast food chain has fallen behind in market share in recent years to some of its other chicken-centric rivals that continue to add locations and gain customers. The deal is unlike some of the others we've seen fast food chains employ, as it doesn't deal with just a cheaper price but rather has a spending threshold of $15 customers must reach before the free bucket is earned." WalletHub writer and analyst Chip Lupo told Newsweek: "This comeback strategy, including free buckets and $7 meal deals, is a smart response to growing price sensitivity and KFC's sagging market share. These kinds of promotions can help re-establish value for consumers who are increasingly questioning whether the speed and convenience of fast food are still worth the cost." What Happens Next The free chicken bucket offer is available for a limited time to customers using KFC's digital ordering channels. Fried pickles will only be available while supplies last. The campaign is part of broader efforts to enhance menu variety, modernize restaurant technology, and attract a new generation of customers, as the brand continues to focus on trend-forward menu innovations and operational improvements. But analysts say some of the push could also be in the data rewards programs that customers can gain from once they join. "They're betting customers will jump at the freebie and join the rewards program," Thompson said. "Once they have your data, they can study your habits, tailor their ads, and figure out exactly how to pull you back in. This is the game now. Fast food isn't just about food anymore—it's about tracking behavior."
