Mortgage rates fall sharply after negative GDP report and Fed’s latest hike

Mortgage rates fall sharply after negative GDP report and Fed's latest hike

A sign is posted in front of a home for sale on July 14, 2022 in San Francisco, California. The number of homes for sale in the U.S. increased by 2 percent in June for the first time since 2019. Justin Sullivan | Getty Images Just one day after the Federal Reserve raised its benchmark … Read more

Kraft Heinz’s Earnings Beat Forecasts. Why the Stock Is Falling Anyway.

Kraft Heinz's Earnings Beat Forecasts. Why the Stock Is Falling Anyway.

Text size Kraft Heinz posted second-quarter adjusted earnings that beat Wall Street expectations. Alex Wong/Getty Images Kraft Heinz posted higher earnings than analysts expected and raised its full-year forecast for organic net sales, but the stock slid anyway as profit margins narrowed. Kraft (ticker: KHC) reported adjusted earnings for its second quarter of 70 cents … Read more

China’s property sales set for a worse plunge than in 2008, S&P says

China's property sales set for a worse plunge than in 2008, S&P says

Most apartments in China are sold before developers finish building them. Pictured here on June 18, 2022, are people selecting apartments at a development in Huai’an, Jiangsu province, near Shanghai. Future Publishing | Future Publishing | Getty Images BEIJING — China’s property sales are set to plunge this year by more than they did during … Read more

Millennials’ average net worth doubled during pandemic, report finds

Millennials' average net worth doubled during pandemic, report finds

andresr | E+ | Getty Images Covid-19 relief and record-low interest rates boosted many Americans’ finances during the pandemic. That has been especially true for millennials, who have on average built significant wealth. Millennials, born between 1981 and 1996, have more than doubled their total net worth, reaching $9.38 trillion in the first quarter of … Read more

We moved our family of six into a shed after we lost our jobs

We moved our family of six into a shed after we lost our jobs

It’s a sheddy life — but mom-of-four Jessica Taylor wouldn’t have it any other way.  In June 2020, after facing financial difficulties due to the pandemic, she and her husband, Lath, decided to shed the comforts of their three-bedroom, two-bathroom home in northwest Arkansas. The family of six moved into a 500-square-foot toolshed. Friends thought it was … Read more

Central Park Boathouse closing, new operator sought

Central Park Boathouse closing, new operator sought

She’s all washed up — and it’s a heartbreak for the city. Beware of false assurances from city officials, scrambling to save face — I don’t expect the Central Park Boathouse to come back to life any time soon after the restaurant shuts its doors in October. “It is our intention to engage a future operator as soon … Read more