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18 million Americans are house poor, new study shows
Millions of U.S. homeowners are spending more than 30% of their monthly income on housing. Here are the hardest hit states.
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Millions of U.S. homeowners are spending more than 30% of their monthly income on housing. Here are the hardest hit states.
There are some indications that prices are falling in some parts of the U.S. economy. This comes after the Federal Reserve's announcement to hold interest rates steady for now. CBS News contributor Javier E. David looks at some key economic indicators as inflation slows slightly.
The Federal Reserve is leaving interest rates unchanged for now as it awaits a more sustained period of declining inflation in the U.S. economy. CBS News contributors J.D. Durkin and Javier E. David break down the decision.
As home prices nationwide continue to climb, the federal government is looking into a recent spike in upfront costs associated with buying a house.
Continued demand and lack of inventory are driving up the prices of homes at a time when mortgage rates are also climbing.
Demand for buying a home will remain strong in 2024 even though mortgage rates have been around 7% this year.
The median mortgage payment jumped to a record $2,843 in April, up nearly 13% from a year ago, a new analysis finds.
Mortgage rates soared to their highest level of the year this week, according to Mortgage News Daily. Holden Lewis, a home and mortgage reporter for NerdWallet, joins CBS News with tips on buying a home.
Inflation is moving sideways, remaining above 3% for the first three months of 2024. Here's how that could impact your finances.
The U.S. economy added 275,000 jobs in February and the unemployment rate unexpectedly rose to 3.9% from 3.7%, according to data released Friday. CBS News business analyst Jill Schlesinger and Daniel Zhao, a lead economist and senior manager at Glassdoor, join CBS News with a look at the numbers.
Aspiring homebuyers face one of the toughest markets in years, with one analyst pointing to a "toxic brews" chilling sales.
While inflation has shown signs of cooling, mortgage rates and home prices are still stubbornly high, making it challenging for many Americans to buy homes. Elise Preston reports.
After a hotter-than-expected inflation report on Tuesday, economists now believe the Fed could postpone its first rate cut. Here's what to know.
Mortgage rates are expected to fall slightly this year, according to real estate experts looking at the data. Jessica Lautz, the deputy chief economist and vice president of research at the National Association of REALTORS, joins CBS News to discuss if homeowners should refinance their mortgages.
While rents have been easing for the past few months nationwide, prices are still up significantly compared to before the pandemic, largely due to inflation. Providence, Rhode Island, saw one of the highest rent increases in the U.S. last year, and according to researchers, you need a salary of close to $83,000 to afford a two-bedroom apartment there. Nancy Chen reports.
The Federal Reserve Board announced it will not change interest rates for now as it eyes how to lower inflation without running the risk of entering a recession. CBS News business analyst Jill Schlesinger looks at the Fed's decision and the upcoming cues to look out for in the economy.
The big picture on Wall Street is that it's been a solid stretch for the American economy. But for those hoping to buy a home, pay rent, or afford groceries, it's not all quite as rosy.
Some financial experts expect mortgage rates to decline gradually over the coming months. Mark Hamrick, a senior economic analyst for Bankrate, joins CBS News with the data behind this projection.
In a positive sign for the housing market, a growing number of consumers think mortgage rates are likely to decline this year.
Will mortgage rates drop and home prices finally fall in 2024? Chen Zhao, who leads the economics team at Redfin, shares some early predictions for the housing market in 2024.
Sky-high mortgage rates that scared off some potential home-buyers this year are slowly starting to drop. Rates are now at their lowest level since June after hitting a 23-year high in October. Greg McBride, chief financial analyst at Bankrate, joined CBS News to discuss how much lower rates might go.
Mortgage rates are edging down from their highest level in 23 years as inflation around the U.S. continues to cool.
Mortgage rates recently hit their highest levels in more than two decades, pricing many out of the market. Here's what to expect in 2024.
"Even places that historically have been affordable now need six figures," according to Redfin's chief economist.
Many homeowners are struggling to keep up with their mortgage payments amid rising costs and high inflation. Here's how to catch up.
Former U.N. Ambassador Nikki Haley and Florida Gov. Ron DeSantis endorsed former President Donald Trump at the Republican National Convention in Milwaukee.
President Biden is considering proposals to reform the Supreme Court, CBS News has learned.
The FBI is investigating whether the shooter was a politically motivated homegrown domestic violent extremist, and investigators are combing through his background.
U.S. intelligence recently detected an Iranian plot against former President Donald Trump, two U.S. officials tell CBS News.
CBS News is fact checking statements made by GOP speakers on the second night of the 2024 RNC, where Donald Trump will become the GOP presidential nominee.
There had been a brief hiatus in the growing calls by House Democrats for a new nominee after Saturday's attempt on Donald Trump's life, but that seems to have ended.
Tech mogul Elon Musk said Tuesday afternoon that he would be moving the headquarters of both his social media company X and SpaceX to Texas in response to a new California law signed by Gov. Gavin Newsom.
The armorer on Alec Baldwin movie "Rust" filed to have her involuntary manslaughter conviction overturned, days after Baldwin's trial over a fatal on-set shooting collapsed due to withheld evidence.
The argument date means any prosecution of Trump will remain on hold until 2025.
The FBI is investigating whether the shooter was a politically motivated homegrown domestic violent extremist, and investigators are combing through his background.
Thousands of officers from multiple jurisdictions are in Milwaukee providing additional security for the convention.
Former U.N. Ambassador Nikki Haley and Florida Gov. Ron DeSantis endorsed former President Donald Trump at the Republican National Convention in Milwaukee.
"Donald Trump has my strong endorsement," Nikki Haley said in her speech at the Republican National Convention on the second night of the RNC.
The U.S. has contended with unrelenting temperatures this summer, and a map from NASA paints a dire picture of the scale of those persistent heat waves.
Tech mogul Elon Musk said Tuesday afternoon that he would be moving the headquarters of both his social media company X and SpaceX to Texas in response to a new California law signed by Gov. Gavin Newsom.
Amazon's Prime Day, which generated $12.7 billion in sales in 2023, can also lead to more worker injuries, a Senate probe finds.
A larger stock of smaller homes could mean more budget-friendly options for buyers.
Apple users can now download an early version of a new iPhone operating system that will be officially released this fall.
JD Vance, who grew up poor in Ohio but later became a millionaire venture capitalist, aligns closely with Donald Trump on issues like trade and jobs.
The FBI is investigating whether the shooter was a politically motivated homegrown domestic violent extremist, and investigators are combing through his background.
Thousands of officers from multiple jurisdictions are in Milwaukee providing additional security for the convention.
Former U.N. Ambassador Nikki Haley and Florida Gov. Ron DeSantis endorsed former President Donald Trump at the Republican National Convention in Milwaukee.
"Donald Trump has my strong endorsement," Nikki Haley said in her speech at the Republican National Convention on the second night of the RNC.
President Biden is considering proposals to reform the Supreme Court, CBS News has learned.
Amazon's Prime Day, which generated $12.7 billion in sales in 2023, can also lead to more worker injuries, a Senate probe finds.
A new rankings list from U.S. News & World Report aims to highlight the top ranked hospitals for different specialized care needs, from cancer to cardiology.
14 students from a Tokyo high school were rushed to a hospital after eating chips marketed as "so spicy that they might cause you pain."
Rite Aid, which has already closed hundreds of stores, is shutting more locations in Michigan and Ohio.
Fitness guru Richard Simmons, who helped millions lose weight by preaching the value of exercise and movement, died Saturday, July 13, 2024, at age 76. In this November 30, 2003 commentary recorded for "Sunday Morning," Simmons offered his advice on dealing with holiday feasts, diets, and the benefits of "moving and grooving."
Officials say traces of cyanide were found on 6 people found dead in a Bangkok hotel, with one suspected of murdering the others.
Two U.S. officials say U.S. Central Command has recommended the military permanently dismantle the pier run by the U.S. military to get aid into Gaza amidst the Israel-Hamas war.
U.S. intelligence recently detected an Iranian plot against former President Donald Trump, two U.S. officials tell CBS News.
The discovery of $224 million of cocaine marked yet another major seizure of the drugs concealed alongside the tropical fruit.
Here's a look at what Ohio Senator JD Vance, former President Trump's running mate, has said about some of the major international issues they would have to deal with if they win in November.
The armorer on Alec Baldwin movie "Rust" filed to have her involuntary manslaughter conviction overturned, days after Baldwin's trial over a fatal on-set shooting collapsed due to withheld evidence.
Rain already falls on Venus, but it took more than 14 minutes for Missy Elliott's The Rain (Supa Dupa Fly)" to reach the planet.
After many people criticized Andress' rendition of the National Anthem online, comparing her with Fergie, the singer says she's going to rehab.
Season 26 of the CBS reality TV show "Big Brother" premieres on Wednesday. Sixteen new house guests will compete and strategize to evict one of their own each week to try and be the last person standing. The prize is $750,000. "Entertainment Tonight" host Nischelle Turner visited the house and even entered a one-day competition.
"90210" stars like Jennie Garth and Brian Austin Green paid tribute, and Alyssa Milano commented on her "complicated relationship" with Shannen Doherty.
Tech mogul Elon Musk said Tuesday afternoon that he would be moving the headquarters of both his social media company X and SpaceX to Texas in response to a new California law signed by Gov. Gavin Newsom.
Apple users can now download an early version of a new iPhone operating system that will be officially released this fall.
From labor shortages to environmental impacts, farmers are looking to AI to help revolutionize the agriculture industry. One California startup, Farm-ng, is tapping into the power of AI and robotics to perform a wide range of tasks, including seeding, weeding and harvesting.
AT&T on Friday disclosed that hackers had accessed records of calls and texts of "nearly all" its cellular customers for a six-month period between May 1, 2022, and Oct. 31, 2022. Jo Ling Kent reports.
AT&T disclosed yet another major data breach on Friday. The company said a third party illegally downloaded call and text records for nearly all its 109 million customers with accounts between May and October 2022. CBS News senior business and technology correspondent Jo Ling Kent is following this story.
The melting of glaciers and polar ice sheets causes water to move closer to the equator, fattening the planet and slowing its rotation, according to a recent study.
Spade-toothed whales are the world's rarest, with no live sightings ever recorded. Until, perhaps, now. One may have washed up onto a New Zealand beach.
Symptoms among the new bird flu cases included "fever, chills, coughing and sore throat/runny nose," alongside pink eye and eye tearing, a CDC spokesperson confirmed Monday.
The image released Friday depicts two merging galaxies, nicknamed "the Penguin and the Egg," that are about 100,000 light years apart, a surprisingly close distance in astronomical terms.
The 2024 Atlantic hurricane season got off to a deadly start as Hurricane Beryl tore across the Caribbean, Mexico and eventually the U.S.
The armorer on Alec Baldwin movie "Rust" filed to have her involuntary manslaughter conviction overturned, days after Baldwin's trial over a fatal on-set shooting collapsed due to withheld evidence.
Officials say traces of cyanide were found on 6 people found dead in a Bangkok hotel, with one suspected of murdering the others.
The alleged leader of a violent extremist group plotted to poison children and minorities in New York City, authorities said Tuesday.
Three snipers from local law enforcement were inside the building former President Trump's would-be assassin fired from, and one of them had spotted him outside on three separate occasions prior to the shooting. The sniper took a picture of the gunman nearly 30 minutes before the shooting, when he saw he had a rangefinder. Meg Oliver has more on the investigation.
Tuesday's theme at the Republican National Convention is "Make America Safe Again." But how worried are Americans about crime? CBS News' Anthony Salvanto and Camilo Montoya-Galvez discuss the numbers.
Rain already falls on Venus, but it took more than 14 minutes for Missy Elliott's The Rain (Supa Dupa Fly)" to reach the planet.
It has been two years since NASA's James Webb telescope gave us a stunning first look at the depth of our universe. To commemorate the achievement, NASA has released new images showing two distant galaxies interacting with each other. Jane Rigby, astrophysicist and a senior project scientist for the Webb telescope at NASA, joins CBS News to discuss.
The image released Friday depicts two merging galaxies, nicknamed "the Penguin and the Egg," that are about 100,000 light years apart, a surprisingly close distance in astronomical terms.
SpaceX's Falcon 9 rocket suffered a catastrophic engine failure as it launched a batch of Starlink satellites into orbit Thursday night, the first time in nearly a decade the rocket has failed. CBS News space consultant Bill Harwood has more on that and the latest images from the James Webb Space Telescope.
The engine failure blamed for stranding 20 Starlink satellites in a low, non-survivable orbit was caused by a liquid oxygen leak.
A look back at the esteemed personalities who've left us this year, who'd touched us with their innovation, creativity and humanity.
Live performances are in full swing this summer. Scroll through our concert gallery, featuring pictures by CBS News photojournalist Jake Barlow and photographers Ed Spinelli and Kirstine Walton.
A teenager's murder in Lowell, Massachusetts, goes unsolved for more than 40 years -- were the clues there all along?
The actor, recipient of a lifetime achievement Academy Award, was renowned for such films as "MASH," "Klute," "Don't Look Now," "Ordinary People," and "The Hunger Games."
The Illinois mom wrote, "If something ever happens to me, please make sure the number one person of interest is Tim." Take a look at the evidence that led to Tim Bliefnick's arrest.
Lara Trump, who is the co-chair of the Republican National Committee, and is married to former President Donald Trump's son Eric, spoke Tuesday night at the 2024 Republican National Convention. She said she had a "very different" speech planned, but rewrote it in the wake of the attempted assassination of her father-in-law. "Nothing prepares you for a moment like that," she said.
Sen. Marco Rubio of Florida, a top contender for former President Donald Trump's 2024 vice presidential pick, who ultimately wasn't selected, delivered an impassioned speech Tuesday night at the Republican National Convention, arguing for Trump's "America first" agenda. "It is time to put our country and our people first again," Rubio said.
Arkansas Gov. Sarah Huckabee Sanders took the stage on the second night of the Republican National Convention to talk about former President Donald Trump's character, recalling memories from her time as White House press secretary during his administration. She began her speech by addressing the attempted assassination of Trump, saying "not even an assassin's bullet could stop him," then taking a jab at President Biden's age.
The 2024 Republican National Convention is already making its fair share of headlines. CBS News chief political analyst John Dickerson takes a look back at the GOP conventions of elections past, and the defining moments spanning administrations.
North Dakota Gov. Doug Burgum was on former President Donald Trump's shortlist for a potential 2024 running mate. On the second night of the Republican National Convention, Burgum sat down with "CBS Evening News" anchor and managing editor Norah O'Donnell to discuss the moment he learned he didn't make the cut.