Finance News
What is causing frustration among many voters about the US economy is primarily the rising prices of homes.
What is causing frustration among many voters about the US economy is primarily the rising prices of homes.,/h3>
WASHINGTON — Lori Shelton finds herself in a challenging financial situation, unable to afford a home despite working multiple jobs to make ends meet. This struggle is indicative of a broader issue affecting many Americans and is shaping perceptions of the economy leading up to the presidential election.
Shelton, 67, drives for Uber in Aurora, Colorado, just to help cover the rent. Despite her efforts, she often finds herself falling behind financially, caught in a cycle of paycheck to paycheck living. This housing affordability crisis is not unique to Shelton but reflects a larger trend of a shortage of homes in the United States.
The root cause of this crisis is the failure to build enough homes to accommodate the growing population, impacting the American dream of homeownership. President Joe Biden’s assurances of a strong economy are dampened by the reality of soaring housing prices and limited availability. This issue has been largely overlooked by former President Donald Trump, further exacerbating the housing shortage.
The impact of the housing shortage extends beyond individual households, with record numbers of renters spending a disproportionate amount of their income on housing. The lack of available homes for sale or construction further drives up prices, making homeownership increasingly unattainable for many.
Despite reassurances from administration officials that the housing market will soon stabilize, advocates and economists are concerned about the long-term effects of this crisis. The bipartisan nature of the housing affordability challenge suggests a need for cohesive policy solutions to address the issue.
In the upcoming election, the path of mortgage rates is expected to play a significant role in shaping voter sentiment. Higher rates could further exacerbate the affordability crisis, making homeownership out of reach for many potential buyers.
In his State of the Union address and budget proposal, President Biden has outlined measures to address the housing shortage, including funding for new housing units and tax credits for homebuyers. However, the scale of the problem requires a comprehensive approach that goes beyond short-term solutions.
While there are differing opinions on how to increase housing supply, the need for action is urgent to prevent further economic fallout from the housing affordability crisis. The long-term consequences of inadequate housing availability extend far beyond individual financial struggles, impacting societal well-being as a whole.
Frequently Asked Questions
Q: What are the main factors contributing to the housing affordability crisis?
A: The shortage of available homes for sale or construction, coupled with rising prices and stagnant wage growth, are the primary drivers of the housing affordability crisis.
Q: How do mortgage rates impact housing affordability?
A: Higher mortgage rates can make homeownership more expensive and out of reach for many potential buyers, further exacerbating the affordability crisis.
Q: What are the potential policy solutions to address the housing shortage?
A: Policy measures such as funding for new housing units, tax credits for homebuyers, and zoning changes to incentivize construction are being considered to tackle the housing affordability crisis.
Q: How does the housing affordability crisis impact the overall economy?
A: High housing costs can lead to reduced spending in other areas, affect property maintenance standards, and have broader societal implications such as health and education outcomes.
‘Shark Tank’ investor Kevin O’Leary joins ‘Fox & Friends’ to discuss Elon Musk and Vivek Ramaswamy leading DOGE, Trump’s potential appointments for Treasury secretary, and the first-ever crypto czar.
Weighing in on rumblings around a potential Trump-appointed crypto czar, popular entrepreneur Kevin O’Leary called on whoever’s nominated to put an end to regulatory indecision.
“We’ve got to stop these shenanigans because this is a technology that affects all 11 sectors of the economy,” O’Leary said Thursday on “Fox & Friends.”
“It provides efficiency and digital payment systems. And we have to be competitive worldwide.”
According to industry sources familiar with the discussions, President-elect Trump is mulling a position dedicated solely to cryptocurrency policy. It’s unclear whether the role would be a czar type or a White House staff role, but the official holding the position would interact with regulators, including the Securities and Exchange Commission and the Commodity Futures Trading Commission.
BITCOIN E.T.F. OPTIONS GO LIVE IN BUSY TRADING. MOST BETS ARE ON GAINS
Two names that come to O’Leary’s mind are former acting U.S. Comptroller of the Currency Brian Brooks and Coinbase CEO Brian Armstrong.
Kevin O’Leary put pressure on a potential Trump-nominated crypto czar to start making regulatory decisions as soon as possible. (Getty Images)
“Brian, of Coinbase, he’s being sued by [SEC Chair Gary] Gensler right now. His company is under litigation from the SEC,” the O’Leary Ventures CEO noted.
“We need a czar here, and we need to start making decisions. Is Ethereum a commodity, or is it a security? Pick one and go with it. I don’t care which one it is, but we’ve got to at least pick it,” he added. “We haven’t done that yet.”
‘Making Money’ host Charles Payne discusses the history of money.
The president-elect campaigned heavily among pro-crypto voters, making a stop at crypto bar PubKey in New York City and speaking at the Bitcoin 2024 conference in Nashville, Tennessee, just weeks before Election Day.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
Manward Press chief investment strategist Shah Gilani discusses how high the S&P 500 can climb in 2025 on ‘Making Money.’
Bitcoin, the largest cryptocurrency by market value, touched a new all-time high of $94,000 in afternoon trading Wednesday and has advanced over 156% from its 52-week low of $36,815.63 in November 2023, as tracked by Dow Jones Market Data Group.
iShares Bitcoin ETF Trust
The surge in price has lifted crypto exchange-traded funds, driving the assets of the largest, iShares Bitcoin Trust, to over $40 billion and lifting it to a record high.
Other bitcoin ETFs are also seeing high interest.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| BTC | GRAYSCALE BITCOIN MINI TRT ETF BITCOIN MINI TRUST BTC ETF | 43.34 | +1.50 | +3.59% |
| GBTC | GRAYSCALE BITCOIN TRUST ETF – USD ACC | 77.62 | +2.63 | +3.51% |
| FBTC | FIDELITY WISE ORIGIN BITCOIN FUND – USD ACC | 85.42 | +2.88 | +3.48% |
| ARKB | ARKB – ARK 21SHARES BITCOIN ETF – USD ACC | 97.54 | +3.24 | +3.44% |
FOX Business’ Suzanne O’Halloran contributed to this report.
Product Name: LP – Portmantu
Click here to get LP – Portmantu at discounted price while it’s still available…
All orders are protected by SSL encryption – the highest industry standard for online security from trusted vendors.
LP – Portmantu is backed with a 60 Day No Questions Asked Money Back Guarantee. If within the first 60 days of receipt you are not satisfied with Wake Up Lean™, you can request a refund by sending an email to the address given inside the product and we will immediately refund your entire purchase price, with no questions asked.
Finance News
Ford recalls nearly 25,000 trucks for problem that could make rearview camera malfunction
‘Car Wizard’ David Long joins ‘The Big Money Show’ to share his top ‘no-brainer buys’ under $10,000.
Ford is recalling nearly 25,000 trucks because of a problem that could make the rearview camera system malfunction.
The automaker said water “may enter the Tailgate Park Assist Sensor Interface Module” and lead to a malfunction of the rearview camera image display in 24,950 of its 2023-2024 F-250, F-350 and F-450 trucks.
All the potentially affected trucks feature a tailgate top camera that “provides additional camera images when the tailgate is down and is a separate camera from the primary rear-view camera,” Ford said in a Oct. 25 recall report submitted to the National Highway Traffic Safety Administration (NHTSA).
A 2023 Ford Super Duty F-350 Limited. (Ford Motor Co. / Fox News)
The recall report indicated the problem stemmed from “certain mating interfaces” of the tailgate top camera being “out of tolerance” and the camera bracket “retain[ing] water” during the application.
FORD TO PAUSE PRODUCTION OF F-150 LIGHTNING PICKUP
In the event that the issue occurs, the rearview camera image may show up as “blue or black” or only work “intermittently,” things that could pose a safety issue due to reduced driver visibility, according to the report.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| F | FORD MOTOR CO. | 10.24 | -0.04 | -0.39% |
FORD CANCELS PLANS FOR ELECTRIC THREE-ROW SUV
It has not led to any known accidents or injuries, Ford said in another document.
A badge on a vehicle at a Ford dealership in New Lebanon, New York, on Jan. 25. (Angus Mordant/Bloomberg via Getty Images / Getty Images)
According to the recall report, owners of the recalled trucks can get their tailgate top camera, wire harness and TPASIM module swapped out at a Ford or Lincoln dealership for free. Their “Image Processing Module A” will receive a software update too, it said.
“Pick-up and delivery will be available at participating dealerships,” a Ford spokesperson told FOX Business. “We’re also working through other potential options that would make completing this recall as convenient as possible for our customers.”
FORD RECALLS 144,500 MAVERICK TRUCKS DUE TO REARVIEW CAMERA DISPLAY ISSUE
Affected Ford F-250, F-350 and F-40 owners can expect to see a recall notification letter in their mailboxes in early December.
Ford said early last month it has sold over 853,400 of its various types of trucks in the U.S. so far this year.
-
Reverse Mortgage8 months agoHow Reverse Loans Can Provide Financial Relief in Retirement
-
Mortgage Rates8 months agoComo puedo comprar una casa a crédito si no se nada?
-
Reverse Mortgage8 months agoThe Pros and Cons of Using a Reverse Mortgage for Retirement Planning
-
Mortgage Rates8 months agoNiro Loan App 2024 || Niro App Se Loan Kaise Le || New Loan App Best Instant Loan App Without Cibi
-
Reverse Mortgage8 months agoExploring the Myths and Realities of Reverse Mortgages for Seniors in 2024
-
Reverse Mortgage8 months agoUnlocking Your Home’s Value: Everything You Need to Know About HECM Loans
-
USDA Mortgage6 months agoMaking Your Dream of Country Living a Reality: FMHA Rural Home Loans in Focus
-
Reverse Mortgage8 months agoIs a HECM the Right Choice for You? Exploring the Pros and Cons