Business

The million-dollar home is becoming surprisingly normal

A $1 million home no longer guarantees luxury in much of the United States, as years of rising prices have pushed millions of properties into seven-figure territory.The number of owner-occupied U.S. homes worth at least $1 million climbed from about 1.5 million in 2005 to 6.9 million in 2024, according…

July layoffs drop to lowest level in 2 years, Challenger says

Job cuts slowed in July as companies stepped up their hiring plans, while artificial intelligence (AI) continues to be cited as a leading reason for workforce reductions, new data shows. Companies announced 33,429 job cuts in July – a decrease of 27% from the 45,849 announced in June, and a…

More than 1.7M ladders recalled nationwide over potentially deadly fall hazard

Kentucky-based Louisville Ladder is recalling roughly 1.77 million attic stairway ladders after receiving reports that bolts can break while the products are being used, creating a potentially deadly fall hazard. The recall involves certain Louisville, Featherlite, Lite and Century attic stairway ladders equipped with gas struts, according to a notice…

LARRY KUDLOW: Democratic Party socialism is unaffordable

It’s so interesting to me how these socialists who are taking over the Democratic party, are hiding behind the veil of affordability. They don’t want to tell you that their agenda is all about unaffordability, or in short wrecking the whole economy.  Think of this, they will tax all manner…

Here’s the income needed to afford the typical American home

Housing affordability remains a concern for would-be homebuyers as the income needed to afford a typical U.S. home remains near historic highs and well above what most American households earn, though there are signs of improvement from a year ago. Home prices surged in 2022 and 2023 amid strong demand…

Mortgage rates hit highest level in over a year

close video Mortgage rates rose this week, mortgage buyer Freddie Mac said Thursday. Freddie Mac’s latest Primary Mortgage Market Survey, released Thursday, showed the average rate on the benchmark 30-year fixed mortgage climbed to 6.69% from last week’s reading of 6.66%. The average rate on a 30-year loan was 6.63% a…

Bill Ackman sounds alarm on Mamdani’s economic agenda: ‘Socialism is a disaster’

Billionaire investor Bill Ackman warned that New York City’s rent freeze, tax policies and limits on development could worsen the city’s affordability crisis by discouraging construction and investment. In a wide-ranging interview with Fortune published Wednesday, the Pershing Square Capital Management founder argued that government policy is driving up housing…