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Author Archives: Carl Fox

Carl Fox is the money and finance editor for Conservative Daily News. Follow him in the "Money & The Economy" section at CDN and see his posts on the "Junior Economists" Facebook page.

Nearly a Third of Americans Have Absolutely Nothing Saved

A new report from personal finance website GOBankingRates revealed that 32 percent of Americans – nearly a third of respondents – have no money in their savings accounts. GOBankingRates conducts this survey each year to better understand Americans’ personal financial standing. Since 2015, the results have shown that the majority of Americans have less than $1,000 in savings — and that trend ...

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Rents Decline Annually for the First Time in Six Years

The median rent is $1,440, 0.2 percent lower than it was in September 2017 The median U.S. home is worth $220,100, up 7.6 percent from a year ago There were 1.9 percent fewer homes for sale than there were last September Rents declined nationwide on an annual basis for the first time in more than six years. The median U.S. ...

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The 25 Best Cities For Jobs In 2018

Houston Texas City Skyline

With more than a quarter (28.5 percent) of U.S. job applications in metro areas that would likely require people to move, American workers are showing they are willing to move for the right opportunity. But which cities should people consider this year? Today, Glassdoor, one of the world’s largest job and recruiting sites, announced results of its newest jobs report identifying ...

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CVS acquisition of Aetna gets DOJ Blessing

CVS Health (NYSE: CVS) today announced that it has entered into an agreement with the U.S. Department of Justice (DOJ) that allows it to proceed with its proposed acquisition of Aetna (NYSE: AET). DOJ clearance is a key milestone toward finalizing the transaction, which is also subject to state regulatory approvals, many of which have been granted. CVS Health’s acquisition ...

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U.S. Home Affordability Drops To Lowest Level In 10 Years

Home for sale

Home Prices Less Affordable Than Historic Averages In 78 Percent of Local Markets 30 Percent of Population in Markets Requiring $100,000+ in Annual Income to Buy a Home A report out Thursday shows that the U.S. home prices in the third quarter were at the least affordable level since Q3 2008 — a 10-year low. The report calculates an affordability ...

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Trump Effect: Jobs continued amazing growth in September

Private sector employment increased by 230,000 jobs from August to September according to the September ADP Report.  The impressive jobs numbers come on the heels of a report that showed wages also rose last month. Mark Zandi, chief economist of Moody’s Analytics, said, “The job market continues to power forward. Employment gains are broad-based across industries and company sizes. At the current ...

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Fox Business Takes Top Spot from CNBC for Business Day

Maria Bartiromo Fox Business

FBN Crushes CNBC Across Business Day, Market Hours and Total Day Viewers Maria Bartiromo’s Pre-Market Show ‘Mornings with Maria’ Scores Second Straight Quarterly Win over CNBC’s ‘Squawk Box’ in Total Viewers Lou Dobbs and Stuart Varney Lead as Top Two Programs in Business News CNBC Delivers Lowest Rated Quarter in Total Day and Primetime Viewers Since 2013 in the 25-54 ...

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High Interest Rates Put Pressure on Auto Sales in September

High interest rates continued to put pressure on new vehicle sales in September, according to the car shopping experts at Edmunds. The annual percentage rate (APR) on new financed vehicles averaged 5.8 percent in September, compared to an average APR of 4.8 percent in September 2017 and 4.1 percent five years ago. Interest rates have stayed above 5 percent for eight months ...

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New-Car Prices Rise 2 Percent Year-Over-Year

Ford car lot auto dealership car sales

Analysts reported today that the estimated average transaction price for light vehicles in the United States was $35,742 in September 2018. New-vehicle prices increased by $687 (up 2 percent) from September 2017, while remaining flat (down 0.4 percent) from last month. “While September sales are expected to decline, average transaction prices remained strong, rising 2 percent year-over-year,” said Tim Fleming, analyst for Kelley Blue Book. “With interest rates on the rise ...

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Wages increase during tightening labor market

economy going up

Hourly wages increased again in September amid a tightening labor market. The Trump economy is red hot and it is putting pressure on the job market as more jobs are created than there are people to fill them. The increased competition for workers sent wages up 2.33% ($.61) in  September. The tight labor market continues to restrain job growth, while ...

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Find Money for College: Tips on Completing the FAFSA

The 2019-2020 Free Application for Federal Student Aid opened today, and U.S. News & World Report is here to help with an in-depth guide on what to know about the $120 billion in aid shelled out annually to college students by the Department of Education. U.S. News’ Paying for College Reporter Farran Powell offers the following tips about the FAFSA, a useful way to pay for ...

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Trump Effect: Manufacturing continues amazing expansion in September despite tariff concerns

Donald Trump success

Economic activity in the manufacturing sector expanded in September along with the overall economy, say the nation’s supply executives in the latest ISM Manufacturing report. The report was issued today by Timothy R. Fiore, CPSM, C.P.M., Chair of the Institute for Supply Management® (ISM®) Manufacturing Business Survey Committee: “The September PMI® registered 59.8 percent, a decrease of 1.5 percentage points from the August reading of 61.3 percent. ...

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Pending Home Sales Dip 1.8 Percent in August

Pending home sales fell slightly in August and have now decreased on an annual basis for eight straight months, according to the National Association of Realtors. The Pending Home Sales Index, a forward-looking indicator based on contract signings, decreased 1.8 percent to 104.2 in August from 106.1 in July. With last month’s decline, contract signings are now down 2.3 percent year-over-year. ...

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Millennial Homebuyers Driving 2018 Hottest ZIP Codes in America

Home for sale

A new report out today announced the Hottest ZIP Codes in America. The new list shows high-income millennials are helping to drive a nearly 10 percent increase in how fast homes are sold in the most popular areas of the country, which spans emerging suburban areas near Silicon Valley, throughout the Midwest, and on the East Coast. As millennials get ...

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Here are the cities with the highest share of zero-debt homeowners

A study released today showed which cities have the highest share of homeowners without mortgage debt, ranking U.S. cities by the proportion of such homeowners who are ‘free and clear’. To assess “free and clear” homeowners, analysts used LendingTree’s proprietary database of almost all homes in the United States to calculate the proportion of homes with zero mortgage debt in each city. ...

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