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Yahoo
6 hours ago
- Business
- Yahoo
10 Worst Cities for Renters Who Need Child Care
Rent prices in the U.S. have been going up since the COVID-19 pandemic started in 2020. Low inventory is the chief factor driving high rents, and with interest rates still steep, fewer people can afford to buy. The cost of child care has also been going up in the U.S. Limited supply and overwhelming demand plays a similar role here. But what choice do we have? Working parents need to maintain an income. And even if you have the luxury of working from home, the 'working' part doesn't go away. Child care, however much of a privilege it's become, is a need. Learn More: Read Next: Combine rising rents with rising costs for child care and you get, quite possibly, a financial nightmare. And it's worse in some major cities than in others. A recent analysis by Redfin looked at the combined monthly cost of rent and child care to find the 10 cities that are the most unaffordable for middle-class parents. All data cited is from Redfin, while U.S. Census Bureau data was used to source the median household incomes. Median monthly household income: $11,787 Average monthly child care + rent costs: $4,692 ($1,997 for child care + $2,695 for rent) Share of income spent on child care + rent: 34.5% Find Out: Median monthly household income: $6,419 Average monthly child care + rent costs: $2,393 ($918 for child care + $1,475 for rent) Share of income spent on child care + rent: 38.3% Median monthly household income: $5,941 Average monthly child care + rent costs: $2,658 ($865 for child care + $1,793 for rent) Share of income spent on child care + rent: 40.6% Median monthly household income: $8,077 Average monthly child care + rent costs: $4,396 ($1,609 for child care + $2,787 for rent) Share of income spent on child care + rent: 42.1% Median monthly household income: $8,693 Average monthly child care + rent costs: $3,995 ($1,318 for child care + $2,677 for rent) Share of income spent on child care + rent: 42.6% Median monthly household income: $7,473 Average monthly child care + rent costs: $3,516 ($1,183 for child care + $2,333 for rent) Share of income spent on child care + rent: 44.5% Median monthly household income: $5,058 Average monthly child care + rent costs: $2,846 ($961 for child care + $1,855 for rent) Share of income spent on child care + rent: 45.6% Median monthly household income: $7,313 Average monthly child care + rent costs: $3,892 ($1,145 for child care + $2,747 for rent) Share of income spent on child care + rent: 48.4% Median monthly household income: $6,643 Average monthly child care + rent costs: $4,051 ($1,208 for child care + $2,843 for rent) Share of income spent on child care + rent: 49.2% Median monthly household income: $4,949 Average monthly child care + rent costs: $3,179 ($764 for child care + $2,415 for rent) Share of income spent on child care + rent: 50.5% More From GOBankingRates 7 Tax Loopholes the Rich Use To Pay Less and Build More Wealth This article originally appeared on 10 Worst Cities for Renters Who Need Child Care 擷取數據時發生錯誤 登入存取你的投資組合 擷取數據時發生錯誤 擷取數據時發生錯誤 擷取數據時發生錯誤 擷取數據時發生錯誤
CBS News
20 hours ago
- Business
- CBS News
Frank Lloyd Wright's Elizabeth and Rollin Furbeck House in Oak Park hits the market for $1.9M
Have you ever visited a Frank Lloyd Wright home and wondered what it's like to live in one? Now, you can own one, but it comes with a hefty price tag. The Elizabeth and Rollin Furbeck House at 515 Fair Oaks Ave. in Oak Park has hit the market. Elizabeth and Rollin Furbeck House at 515 Fair Oaks Ave. in Oak Park. According to the realtor site Redfin, the 1897 home is one of Wright's earliest and most innovative residential works. The 5000-square-foot, three-story single-family home has five bedrooms, three and a half bathrooms, and a five-car garage, the website said. Other amenities include a mezzanine reading nook that overlooks the main room, a heated pool, and a recreation room that can be used for movie nights, play space, or casual lounging. The home has been on the market for two weeks, according to the website. The cost to own the home will run the potential buyer $1,975,000.
Yahoo
21 hours ago
- Business
- Yahoo
10 Worst Cities for Renters Who Need Child Care
Rent prices in the U.S. have been going up since the COVID-19 pandemic started in 2020. Low inventory is the chief factor driving high rents, and with interest rates still steep, fewer people can afford to buy. The cost of child care has also been going up in the U.S. Limited supply and overwhelming demand plays a similar role here. But what choice do we have? Working parents need to maintain an income. And even if you have the luxury of working from home, the 'working' part doesn't go away. Child care, however much of a privilege it's become, is a need. Learn More: Read Next: Combine rising rents with rising costs for child care and you get, quite possibly, a financial nightmare. And it's worse in some major cities than in others. A recent analysis by Redfin looked at the combined monthly cost of rent and child care to find the 10 cities that are the most unaffordable for middle-class parents. All data cited is from Redfin, while U.S. Census Bureau data was used to source the median household incomes. Median monthly household income: $11,787 Average monthly child care + rent costs: $4,692 ($1,997 for child care + $2,695 for rent) Share of income spent on child care + rent: 34.5% Find Out: Median monthly household income: $6,419 Average monthly child care + rent costs: $2,393 ($918 for child care + $1,475 for rent) Share of income spent on child care + rent: 38.3% Median monthly household income: $5,941 Average monthly child care + rent costs: $2,658 ($865 for child care + $1,793 for rent) Share of income spent on child care + rent: 40.6% Median monthly household income: $8,077 Average monthly child care + rent costs: $4,396 ($1,609 for child care + $2,787 for rent) Share of income spent on child care + rent: 42.1% Median monthly household income: $8,693 Average monthly child care + rent costs: $3,995 ($1,318 for child care + $2,677 for rent) Share of income spent on child care + rent: 42.6% Median monthly household income: $7,473 Average monthly child care + rent costs: $3,516 ($1,183 for child care + $2,333 for rent) Share of income spent on child care + rent: 44.5% Median monthly household income: $5,058 Average monthly child care + rent costs: $2,846 ($961 for child care + $1,855 for rent) Share of income spent on child care + rent: 45.6% Median monthly household income: $7,313 Average monthly child care + rent costs: $3,892 ($1,145 for child care + $2,747 for rent) Share of income spent on child care + rent: 48.4% Median monthly household income: $6,643 Average monthly child care + rent costs: $4,051 ($1,208 for child care + $2,843 for rent) Share of income spent on child care + rent: 49.2% Median monthly household income: $4,949 Average monthly child care + rent costs: $3,179 ($764 for child care + $2,415 for rent) Share of income spent on child care + rent: 50.5% More From GOBankingRates 6 Popular SUVs That Aren't Worth the Cost -- and 6 Affordable Alternatives This article originally appeared on 10 Worst Cities for Renters Who Need Child Care Sign in to access your portfolio
Daily Mail
21 hours ago
- Business
- Daily Mail
The California city with the most 'rich renters' as affluent residents ditch buying houses for savvy reason
San Jose, California, has been named the US city with the most 'rich renters' as wealthy Americans ditch home buying for a savvy reason. The tech hub topped a new study that found affluent Americans are increasingly abandoning homeownership as mortgage rates soar to 7 percent and property prices hit record highs. Wealthy renters are now choosing to lease rather than buy despite earning enough to purchase million-dollar homes, according to a Redfin study. Housing experts say wealthy renters are prioritizing flexibility and freedom in an uncertain economic climate. Redfin Senior Economist Elijah de la Campa said: 'With mortgage rates near 7 percent, renting frees up cash for other investments that may be more lucrative than real estate.' Redfin analyzed rental data from 2019 to 2023 and discovered that high earners now make up a growing share of America's rental market. San Jose beat out Orlando, Florida for the top spot, with San Francisco, New York and Seattle rounding out the top five cities where the wealthy are ditching homeownership for rentals. In San Jose, the median home sale price has reached a staggering $1.4million - the highest in the entire United States. Now some affluent residents have decided that renting makes more financial sense. The typical wealthy person living in San Jose would need to spend just 10.5 percent of their income to afford rent on a median-priced apartment, compared to a 21 percent to afford buying a median-priced home. 'Many affluent Americans are choosing leases over mortgages because the cost of buying a home has jumped significantly more than the cost of renting one in recent years,' said de la Campa. And Juan Castro, a Redfin Premier real estate agent in Orlando, said: 'For a lot of folks, renting is all about opportunity. The U.S. economy and job market are in flux, and people want to be able to move and flow as things change. 'I have friends who sold their home in favor of renting because they want the flexibility to move fast if their dream job surfaces in another state.' Housing experts say wealthy renters are prioritizing flexibility and freedom in an uncertain economic climate. Renting can 'free up cash for other investments that may be more lucrative than real estate' The typical wealthy person living in San Jose would need to spend just 10.5 percent of their income to afford rent on a median-priced apartment, compared to a 21 percent to afford buying a median-priced home 'They believe many employers won't offer remote work moving forward, and don't want to be stuck with a home that may be difficult to sell quickly.' At the other end of the spectrum, Oklahoma City, Oklahoma had the lowest share of affluent renters as of 2023, followed by Cincinnati, Ohio; Hartford, Connecticut; Cleveland, Ohio; and Providence, Rhode Island.
Yahoo
a day ago
- Business
- Yahoo
Japan's warning, the trade war's next phase, and Trump Media's Bitcoin buy: Markets news roundup
Demand for Japan's 40-year government bonds plunged Wednesday to its lowest level since last July, reinforcing fears that appetite for ultra-long Japanese debt is evaporating. Read More Stocks opened higher Thursday morning after a federal court struck down most of President Donald Trump's 'Liberation Day' tariffs, fueling early optimism that one of 2025's biggest economic headwinds could be moving into the rearview. Read More The U.S. housing market has undergone an unprecedented shift: Sellers now outnumber buyers by approximately 490,000. It's the largest disparity since Redfin, a real estate company, began tracking the data in 2013. Redfin's report, published Thursday, forecasts that if current trends persist, home prices could decline by 1% by the end of 2025, on average. 'Prospective buyers may see their purchasing power increase, and prospective sellers should consider selling sooner rather than later,' the report states. Read More Trump Media & Technology Group has tapped investors for $2.5 billion to fund a cryptocurrency reserve. Institutional investors have bought shares in the firm under a private placement, the Trump family's media company announced Tuesday, with the proceeds set to be invested in Bitcoin. Read More Uncertainty among homeowners and buyers is at a three-year high, according to Bank of America's (BAC) Homebuyer Insights Report published Wednesday. Of the survey's 2,000 respondents nationwide, 60% said they are unsure whether now is a good time to buy, compared to 48% in 2023. Despite this, about half of the prospective homebuyers surveyed feel optimistic about the market, saying it's improved over the past year. Respondents expect this to continue: 75% foresee home prices and interest rates falling, and are waiting until then to buy a new home. That's up from 62% in 2023. Read More Shein appears to be abandoning its hopes for a flotation in London. The fast-fashion retailer is reportedly preparing to list on the Hong Kong stock exchange as its application to launch an initial public offering on the London Stock Exchange stalls with Chinese regulators, Reuters reported Wednesday. While Shein is headquartered in Singapore, it was founded in China, where the majority of its suppliers remain. Read More Consumers' attitudes about the U.S. economy improved in April as trade tensions eased. The latest survey of consumers from the Conference Board released on Tuesday indicated consumer confidence was rebounding, breaking a five-month slump. It leapt to a score of 98 in April compared to 85.7 a month earlier, sharply overtaking economists' expectations. (A score of 100 equals the benchmark score for 1985.) The gains in consumer confidence was spread out among all income and age groups, the Conference Board said. Read More Treasury yields fell on Tuesday with bond markets a little more reassured that a new front in the trade war won't be opened in the near future. The thirty-year Treasury yield dropped five basis points to 4.984% as stock futures surged. Meanwhile, the ten-year Treasury yield had shed four basis points to 4.475% at the time of publication. Read More International growth is slowing, fewer new jobs will be created, and the global income gap is rising — largely because of elevated trade tension spearheaded by U.S. President Donald Trump. That's according to the International Labour Organization (ILO), a UN agency, whose new report is based on the IMF's April 2025 'World Economic Outlook.' The IMF also singled out new tariffs and a 'highly unpredictable environment.' Read More U.S. stocks rose sharply Tuesday, with the S&P 500 climbing over 2%, the Nasdaq gaining 2.5%, and the Dow Jones Industrial Average rising 740 points, or 1.8%, in a rebound from last week's selloff. Read More For the latest news, Facebook, Twitter and Instagram. 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
