Monday, June 3, 2024

Build-to-rent communities growing

Plus: More youth are caring for parents ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌  ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ 

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The Daily Money

ALL THE MONEY NEWS YOU NEED TO KNOW

Mon Jun 3 2024
 

Betty Lin-Fisher | Consumer reporter

@blinfisher

Happy Monday! This is Betty Lin-Fisher filling in today on The Daily Money.

You've heard of rent-to-own, but have you heard of build-to-rent?

A growing number of new houses, which are available for rent, are being built and targeted to younger renters looking to get out of apartments, reports my colleague, Bailey Schulz.

Experts say the communities could help ease a housing shortage that has left millions of potential buyers struggling to afford homes.
image (8).png

A home in Lakeside Conroe, a build-to-rent community in Montgomery, Texas.

Wan Bridge

More youth are serving as caregivers for adults

12-year-old Aleisha Thompson's morning routine isn't typical of a pre-teen.

Before she goes to school, she prepares her mom's medications. Then she texts her mom throughout the day while at school to make sure her mom is taking her pills and eating.

Aleisha is a growing number of youth, who in a role reversal, are caring for their parents, my colleague Medora Lee, reports.

Read more about this trend and what can be done.

📰 Consumer stories you shouldn't miss 📰

•Gen Z, including the newest college grads, are hit harder by inflation than other age groups.
•The journey on this Alaskan cruise is the main event.
•Is a living trust for you?
•Remember Napster? It launched 25 years ago.
•Here are the most – and least – welcoming states for gay and transgender people, according to a new business climate index.

🍔 Today's Menu 🍔

National Doughnut Day is coming on Friday. Here's what you need to know about scoring a free doughnut from Krispy Kreme.

About The Daily Money

Each weekday, The Daily Money delivers the best consumer and financial news from USA TODAY, breaking down complex events, providing the TLDR version, and explaining how everything from Fed rate changes to bankruptcies impacts you.
A home in Lakeside Conroe, a build-to-rent community in Montgomery, Texas.

Build-to-rent communities have started to take off as more Americans find themselves unable to afford a down payment on a home.

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Sophie Ten Broeke, 11, right, reacts after her mother Megan, left, surprised Sophie with an electric wheelchair on Thursday, Dec. 7, 2023, outside their home in Lansing. Megan purchased the wheelchair at an affordable price from a Volunteers of America Michigan Thrift Store.
 

Meet the unpaid, hidden caregivers: Kids

Millions of children are now caregivers at home without any government recognition, pay or support. Nonprofits lend a hand, but the kids need more.
The hopes that inflation might soon moderate were dashed when the consumer price index for April rose 8.3% compared to last year. The producer price index for April confirmed this further. It rose 11% compared to the same month last year. The PPI measures input costs, or wholesale prices, from the point of view of producers. The prices of a very few items in the CPI have actually fallen over the past several months. At the top of this list - the price of food service at schools is plunging (down 43% in April compared with last year), as did the price of food service at businesses (down 30%). In each case, the fact that so many Americans work or attend school from home is likely the cause. The American consumer is caught in a vice. To a large extent, inflation has been caused by upward pressure on oil prices due to the Russian invasion of Ukraine. The war also affects wheat supplies. COVID-19 infections, which have raced through China's two largest cities and shuttered factories, have exacerbated global supply chain problems. ( These are the metros where families pay the least for food .) The Federal Reserve has been called upon, for decades, to help steer the economy between inflation and recession. The Fed does so by setting interest rates and buying bonds. Recently, it has been credited with helping drag the U.S. out of The Great Recession and the COVID-19-driven economic downturn. To accomplish these things, the Fed has kept interest rates near historic lows. This, in turn, has helped consumers with major purchases like homes. The need for Fed action has changed course, almost overnight, however. Rampant inflation has forced the Fed to raise rates, and it may further raise rates by as much as half a percentage four or five times this year. There is even talk about the possibility of a 0.75 point bump. And if rates are raised too aggressively, the economy could fall into a recession. ( This is the city with the cheapest groceries in every state .) To determine the consumer activity that is plunging in price, 24/7 Wall St. reviewed data on the consumer price index for all urban consumers from the Bureau of Labor Statistics.
 

Why inflation has been 'hotter' for Gen Z

Adults in their 20s are bearing the brunt of a historic spike in prices the past few years.
Guests gather on the top deck of the Celebrity Edge for views of Endicott Arm and Dawes Glacier. Throw blankets are available onboard.
 

Views for days. What you can see and experience on Alaska cruises.

Alaska is a bucket-list destination for many people, but it's not always easy to explore — unless you're on a cruise.
A person holding documents.
 

Why you should consider a living trust when estate planning

A living trust is a great estate-planning tool for some people. Here's how to know if it's right for you.
A New York University student downloads music from the Napster site March 6, 2001 in New York City. A federal judge has ordered Napster Inc. to block any copyright-protected songs from its service, giving the recording industry another victory.
 

25 years ago Napster launched and music was never the same

When Napster emerged on the internet 25 years ago, many knew it represented the future. The record labels and artists pushed back.
LGBTQ activists protest a bill banning gender-affirming medical care for transgender children at the Texas Capitol Friday, May 12, 2023.
 

For gay and transgender people, these are the least welcoming states

As Republicans sharpen attacks on gay and trans rights, New York topped the list of most welcoming states and Arkansas came in dead last in new index.
Krispy Kreme will be offering customers a free "favorite" doughnut on Friday, June 7 to celebrate National Doughnut Day.
 

It's almost National Doughnut Day. How to get free Krispy Kreme.

Krispy Kreme is giving out free doughnuts to customers to celebrate National Doughnut Day and offering a deal on a dozen glazed treats.
Canoes sit on the edge of Ek Lake in Voyageurs National Park.
 

This national park is one of America's 'best kept secrets'

Here's why it's worth making the voyage to Voyageurs National Park in Northern Minnesota.
Truffles found at The Truffle Farm in Tasmania, Australia.
 

7 things you need to know about traveling to Tasmania

For first-time visitors looking to start ticking bucket list destinations, Tasmania offers a unique blend of comfort and adventure.

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