Latest news with #costOfLiving
Wall Street Journal
a day ago
- Politics
- Wall Street Journal
Rep. Jason Crow: Democrats Do Know How to Save Themselves
Karl Rove's op-ed 'Can Anything Save the Democrats?' (July 17) is out of touch. Americans aren't thinking about political battles in Washington, they're thinking about how life is too expensive. It's hard enough to pay for housing, gas and groceries, let alone save for retirement or send your kids to school. The American Dream is increasingly out of reach for too many. People have every right to be angry.
Yahoo
2 days ago
- Business
- Yahoo
CNBC ranks Oregon among most expensive states. Here's why
PORTLAND, Ore. (KOIN) – CNBC released a list of states where inflation is hitting the hardest — naming Oregon among the most expensive states to live in. According to the report, published July 11, inflation has come down from its post-COVID high; however, cost-of-living remains lofty in some states. 'One of the biggest problems with inflation is that once it has burrowed into an economy, it is very difficult to rid of it. Just when Federal Reserve policymakers thought they might have finally gotten the better of the inflation that gripped the U.S. economy following the pandemic, along came the specter of tariffs,' CNBC explained. Largest skateboard mural in U.S. will be unveiled at Portland Dream Plaza The outlet rated states based on an index of prices for goods and services calculated by the Council for Community and Economic Research while also considering housing affordability in each state. CNBC named Oregon among the most expensive states, citing housing prices as a major factor. 'The cost of housing is chewing up household budgets in the Beaver State. One-third of Oregonian homeowners and renters are paying more than 30% of their household income on housing,' CNBC said. Adults-only pinball space and social club is Vancouver's latest addition The outlet noted, 'life can be expensive in other ways as well in Oregon. A loaf of bread in Portland, Oregon, will cost you 12% more than it would in Portland, Maine. According to MIT's , a living wage for a family of four in Oregon, where two adults hold jobs outside the home, is $31.48 per person. In Alabama, each adult would need to earn only $23.38.' According to CNBC, average home prices in the Portland metro area are over $723,000. Close Thanks for signing up! Watch for us in your inbox. Subscribe Now Washington was also named among the most expensive states. 'Getting your greens in the Evergreen State will cost you some extra green. A bag of frozen sweet peas in Kent goes for about 30% more than it does in Salt Lake City,' CNBC said, adding, 'Housing is also expensive in Washington State. A state advisory commission found last year that a lack of affordable housing has reached 'critical levels' statewide, leading to increased homelessness, housing instability and higher living costs, especially for low- and moderate-income families. The state Commerce Department's Affordable Housing Advisory Board recommended more funding for affordable housing, reducing regulatory hurdles for new construction, and promoting new types of housing, all aimed at building the one million homes the group said are needed over the next 20 years.' According to CNBC, the average home price in Kent, Washington is over $846,000. The most expensive state on the list is California, with other expensive states including Arizona, Louisiana, Texas, Maryland and Massachusetts. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. Solve the daily Crossword
Yahoo
2 days ago
- Business
- Yahoo
IKEA Canada temporarily cuts food prices to help with the rising cost of living
Canadians craving those famous Swedish meatballs from Inter IKEA Systems BV are in for a pleasant surprise as the retailer is temporarily slashing food prices to help with the rising cost of living. IKEA recently announced it's cutting its weekday restaurant prices in half for some dishes until the end of August, while children eat free on Wednesdays. Customers must have an IKEA Family Card to get the discounts. The move is meant 'to help people stretch their budgets, nourish their families, and find a little more joy,' the retailer said. 'Securing the lowest possible price for our products is always our utmost goal, and this is even more important in today's times of economic uncertainties and cost-of-living pressures,' Tolga Öncü, Ingka retail manager at IKEA Retail, said in a news release. The company says a family of four in France will now pay 6.96 euros ($11.12 CAD) for a meal and a 5 euro store voucher, compared to the previous price of 19.9 euros ($31.63 CAD). Food inflation has been a persistent issue in Canada, having climbed a whopping 31 per cent since 2019, according to NerdWallet Canada. Prices for food purchased in stores climbed 2.8 per cent year-over-year in June, according to Statistics Canada, outpacing overall inflation for the month. IKEA stores in Canada, Austria, China, Denmark, France, Germany, Italy, Netherlands, Poland, Portugal, South Korea, Sweden, Switzerland, and the United Kingdom are included in the promotion. • Email: bcousins@ 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
BBC News
3 days ago
- Business
- BBC News
Rents rise by £221 a month in three years, Zoopla analysis suggests
The monthly cost of renting a home has risen by £221 in three years, according to property portal BBC has heard how the pressure has led to some tenants making decisions about jobs based on rent in the area, and parents who are helping their grown-up children with living increase is very similar to the typical rise in monthly mortgage repayments for Zoopla says the rate of rent increases has slowed, particularly in cities. The cost of renting has risen sharply in recent years due to high demand from tenants. At the same time, the number of properties available to rent has either fallen or failed to keep pace with by Zoopla, shared with the BBC, suggests that rents for new tenancies are 21%, or typically £221 a month, more expensive than three years average monthly rent this spring was £1,283, the figures show. Some renters are having to move or turn down jobs owing to high Killeen now works in musical theatre after studying in Dublin. She had wanted to accept a job in a school in the city but said the wage did not cover the rent."That was the first time I had to turn down a good opportunity," she said. After moving to the north of England, she has faced similar pressures."I've been able to do fringe shows but now I'm looking at having to move to somewhere else because realistically I won't be able to keep up with the rent, and that's the second time this will have happened to me and I'm 26," she mum, called Karen, contacted us through Your Voice, Your BBC News to explain how her son - a father himself - needed financial help from her and her son is a graduate with a good job, but needed their help because rent was so high. However, she said her own plans to retire meant it was not a sustainable Cook, head of residential research at estate agency Savills, said more parents were acting as guarantors when tenancies were agreed. He said the period of high rental growth meant it was inevitable that parents were helping to pay the rent on an informal basis Beveridge, from Hamptons, said that many young people had been leaving the family home much later in life in recent years because of rent rises. More encouraging news for renters is that Zoopla data shows that rent rises have slowed, or even reversed in some areas – particularly in growth in average rents for new tenancies in the UK has slowed from 6.4% last year, to 2.8% in the year to April, according to Zoopla's latest have fallen compared with a year earlier in Leeds, Dundee and parts of they continue to rise quite sharply in more affordable areas adjacent to large Carlisle, Motherwell, Chester and Blackburn have all seen annual rent rises of 8% or more. Renters might not be able to buy Over the last three years, homeowners were faced with much higher mortgage rates, and typically saw their monthly repayments on a new fixed deal rise by £218 compared with three years the increase for renters and homeowners is very similar, Zoopla's executive director of research Richard Donnell said that property owners tended to have bigger were more likely to have a two to four-bedroom home, while renters were often younger and living in a one to three-bedroom home. Mortgage holders were also likely to be reducing their debt with each payment. While rents and mortgage repayments were rising sharply, Zoopla said house prices were relatively steady. They rose by 4% over the same three-year period. Normally that would be a boost to first-time buyers, keen to see house prices stagnate rather than get even more out of rising rent and deposit demands mean the financial pressure can still be difficult to manage, even before a mortgage needs to be paid."I don't know anyone who expects to be able to buy a house, it's just not something we talk about," said Neysa. The government has announced a permanent extension to the mortgage guarantee scheme, which should ensure low-deposit mortgages remain available to first-time City regulator, the Financial Conduct Authority, has confirmed plans for simpler rules around mortgages. There is also a plan to allow people to show evidence of rent payments as part of lenders' affordability would be welcomed by another stretched renter, Stefania Calhoun."I'm not look for an extravagant house, I'm not looking to live above my means, I just want a cosy house and to invest in something that's mine and leave a legacy for the kids," the 41-year-old said. Lifelong renting However, renters may not have any intention to buy, and Mr Donnell said they also needed support."Home ownership remains out of reach for a large proportion of households on lower to middle incomes with small deposits," he said. "This is a large and important group of private renters, who still face strong competition for rented property. Those on lower incomes tend to be limited in their ability to move home, which risks triggering higher rental costs. "Policymakers need to prioritise measures to grow the supply of affordable rented homes to boost choice for lower income renters."
RNZ News
4 days ago
- Business
- RNZ News
Inflation jumps to a 12 month high
Rates, rent and power are a trio of factors responsible for driving up inflation, which has now jumped to a 12-month high. Stats NZ data showed food costs were also surging, alongside rates shooting up by 12.2% and electricity rising by more than 8%. However inflation is still within the Reserve Bank's target band and Finance Minister Nicola Willis has said it is under control. But the opposition said it shows the cost of living is still a problem. Kiwi bank Economist Jarrod Kerr spoke to Melissa Chan-Green. To embed this content on your own webpage, cut and paste the following: See terms of use.
