Author: Elizabeth Blessing
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The three employees banned this month worked at Centra in Indiana, Tongass in Alaska and OneAZ in Arizona
Three credit unions in three different states each had a former employee permanently barred from the industry this year, and the National Credit Union Administration named every institution and individual when it announced the orders. None of the three credit unions is in any regulatory trouble itself; each order applies only to the person who…
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Three former credit union employees are barred for life from any insured institution
The National Credit Union Administration has permanently barred three former credit union employees from ever working in banking again, using an enforcement tool the agency applies more often than most account holders realize. The orders close out separate misconduct cases at three federally insured credit unions without a criminal trial, based on each person’s written…
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Select beef rose $3.51 in a day to $354.23 per hundred pounds
Buying the lower beef grade to save money is a strategy plenty of households lean on, but this week that strategy got a little less rewarding. USDA’s daily wholesale price report shows Select beef jumped $3.51 in a single day to $354.23 per hundred pounds, even as the higher Choice grade slipped. The two prices…
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Wholesale Choice beef ran $375.03 per hundred pounds this month, with the cattle herd at its smallest since 1961
The price the grocery store pays for beef moved again this week, and it’s moving against a backdrop that hasn’t looked this thin in more than six decades. USDA’s daily wholesale report puts the Choice beef cutout at $375.03 per hundred pounds, the level that sets what retailers pay before a steak or roast ever…
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Chicago asking rents are up 5.1 percent to $2,253, one of the fastest climbs among the big metros
Chicago’s typical asking rent reached $2,253 in July, up 5.1% from a year earlier, according to Zillow, one of the faster increases among the large metros the company tracks even though Chicago rarely shows up in headlines about expensive housing markets. The city’s rent growth now outpaces famously tight coastal markets like Los Angeles, up…
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San Francisco asking rents are up 9.7 percent to $3,372 while Denver, Austin and San Antonio all fell
San Francisco’s typical asking rent climbed 9.7% over the past year to $3,372, the fastest increase among the large metros Zillow tracks, while Denver fell 0.9%, Austin fell 0.9%, and San Antonio fell 1.8%. All four numbers come from the same July report, which means the national 2.3% rent figure is quietly hiding two opposite…
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Affording the typical American home now takes about $99,800 in household income
Comfortably affording the typical home purchase in the U.S. now takes close to $99,800 a year in household income, according to Zillow’s July housing data. That’s the income needed to cover a mortgage payment on a typical home without spending more than 30% of earnings on housing, the standard affordability threshold lenders and researchers generally…
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Apartment building permits are down 31 percent from their 2022 peak
Builders pulled permits for new apartment buildings at a seasonally adjusted annual rate of 490,000 units in July, according to the Census Bureau and HUD’s joint construction report, down roughly 31% from where multifamily permitting stood at its 2022 peak. That’s a federal number, not a real estate company’s estimate, and it points at what…
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Nearly 40 percent of rental listings carry a concession, and the apartment building boom behind them is over
Two out of every five rental listings on Zillow offered some kind of concession in July, whether that’s a free month, waived fees, or a gift card for signing a lease. That’s up from roughly one in three a year ago, even as rents themselves are rising at their fastest pace in more than a…
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Rents on single-family houses are rising nearly twice as fast as apartment rents
The typical rent on a single-family house rose 3% over the past year, while the typical rent on an apartment climbed just 1.7%, according to Zillow’s July rental report. That’s nearly double the pace, and it marks a break from the past two years, when a historic wave of new apartment construction kept multifamily rents…
