ALL THE MONEY NEWS YOU NEED TO KNOW | | | |
Happy Friday! It's Bailey Schulz here to bring you the day's top headlines. |
You can quit worrying about whether the U.S. will default on its debt. A debt-limit deal has been approved by the U.S. House and Senate, and President Joe Biden is expected to sign the bill into law soon. |
While some senators aren't happy with the deal's take on defense spending, work requirements around the supplemental nutritional assistance program, IRS funding, student debt and easier energy permitting, to name a few, everyone wins with a debt ceiling increase. A default and a ratings downgrade would have been catastrophic for the economy, jobs and the stock market. |
The deal only curbs government spending by a small amount, which should keep the big economic picture largely unchanged. |
Is the housing market going to crash in 2023? What experts say. |
The U.S. housing market is cooling, but elevated mortgage rates have constrained homebuyers' purchasing power. |
"Despite uncertainty in the economy and the housing market right now, there is little to suggest that the housing market is poised for a crash," says Bright MLS Chief Economist Lisa Sturtevant. "For a plunge in home prices ‒ like we saw in 2008, for example ‒ we would need demand to pull back dramatically and/or supply to increase significantly." |
📰 More stories you shouldn't miss 📰 |
Friday is National Donut Day, which means some of the biggest chains in the country are offering free donuts. |
Just a couple of the deals offered today include: |
| • | Participating Dunkin' locations nationwide are offering guests a free classic donut of their choice with the purchase of any beverage, while supplies last. | | • | Krispy Kreme is offering a free doughnut of any kind, no purchase necessary. Customers can also buy any dozen donuts and get a dozen original glazed donuts for $2. |
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Each weekday, The Daily Money delivers the best consumer news from USA TODAY. We break down financial news and provide the TLDR version: how decisions by the Federal Reserve, government and companies impact you. | | | | Some may hate a lot in the debt ceiling package, but economists say the plan's actually a good compromise that'll benefit everyone. Here's why. | | | | The housing market across the US is cooling down, but does that mean it's headed for a crash? Here's what experts expect to happen in 2023. | | | | Employers added 339,000 jobs in May despite high interest rates and inflation. Unemployment rose to 3.7% | | | | Home Depot's pre-fabricated tiny houses range from about $4,000 to $40,000 but as always in the US housing market, there's a catch. | | | | Bed bugs were discovered at Hawaii's largest airport this past week, prompting gate closures and deep cleaning. | | | | Spurred by evidence of discrimination against Black homeowners, Vice President Kamala Harris announced reforms to combat racism in home appraisals. | | | | The risk of burns and smoke inhalation associated with the use of seven brand fire extinguisher balls sold on Amazon.com can fail to stop a fire. | | | | A worker at the Wegmans market in Webster, New York, ripped off the company for more than $560,000 by creating fraudulent pharmacy refunds and pocketing the money. | | | | It costs airlines nothing to reserve passengers a seat, but they're making billions a year from it. | | | | Dogs are the only service animals allowed to fly. Here's what to know about traveling with them, and why other travelers shouldn't pet them. | | | | | | | Sign up for the news you want | Exclusive newsletters are part of your subscription, don't miss out! We're always working to add benefits for subscribers like you. | | | | | | |
![The American housing bubble that wreaked havoc on the global economy was a long time in the making. Largely the product of exploitative lending practices that put people in homes they could not afford, the housing market bust dragged the median American home value down 37% — from a pre-recession high of $230,000 in 2005 […]](https://www.gannett-cdn.com/media/2018/10/27/USATODAY/usatsports/247WallSt.com-247WS-501448-housing-boom.jpg?crop=768,768,x299,y0)
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