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Free school lunches for all set to end, creating ‘perfect storm’ amid high inflation

[NBC NEWS, Getty Images] Congressional child nutrition waivers that allowed for free meals in school and other food assistance measures are expiring June 30. Advocates say it couldn’t come at a worse time. A federal waiver that made school breakfasts and lunches free to students regardless of their family’s income is set to expire June […]

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Gas prices have soared so high that the US is now seeing demand destruction ahead of the summer driving season

[Business Insider] The average gallon of gas in the US hit a high of $4.59 Tuesday, about 51% higher than a year ago.Demand on a four-week rolling basis was its lowest for this time of year since 2013, excluding 2020.Costs and a demand slowdown could dash hopes for a driving season resembling pre-coronavirus times. Pain […]

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Americans’ pandemic savings are evaporating as inflation soars and old activities resume

[Fortune, Getty] Not only are Americans not saving as much as they were in 2020 and 2021, but now they’re spending some of the cash they set aside. Through the economic turmoil of the coronavirus pandemic, there was one bright spot: Between lockdowns, stimulus checks, and unemployment benefits, many Americans were able to save a lot […]

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America’s shrinking middle class is ‘barely keeping up’

[Yahoo! Finance, Getty Images] America’s middle class has been shrinking over the past 50 years as rising inequality pushes more households into the upper- and lower-income brackets. The share of aggregate household income held by the middle class has plunged since 1970, according to recent research by Pew Research Center, squeezing the mass of the population […]

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The U.S. Housing Market Has Peaked

[The Atlantic] But no, we’re not headed for anything even close to 2008. If you’ve tried to buy a home in the past two years, you have my most profound sympathies. Your experience has probably gone something like this: You found your dream home online; sent photos around to your family; visited the premises (or […]

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‘The market is shifting.’ Here’s exactly when 3 economists predict competition in the housing market will decline

[MarketWatch, Getty Images] Has competition already fallen, and will it continue to do so? Mortgage rates on 30-year fixed rate loans have climbed from about 3.5% earlier this year to upwards of 5.6%, and pros say they may go higher (see the lowest mortgage rates you can qualify for here). Home prices too have made […]

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CEO predicts recession ‘in coming quarters,’ citing mortgage interest rates

[Yahoo!Finance, Getty Images] As Recession Watch heats up, executives and Wall Street pros are debating when — as opposed to if — the next official downturn could occur amid the one-two punch of elevated inflation and rising interest rates. “As people take on higher mortgage interest rates, that means that in the future, we’ll be refinancing our clients the […]

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You thought the U.S. housing market was overpriced? It’s actually been named the most affordable major country for middle class homebuyers

[Fortune, Bloomberg] Pittsburgh has been named the most affordable city for housing, as accommodation costs around the globe surge. Pittsburgh has been named the most affordable city for housing, as accommodation costs around the globe surge.  Hong Kong, long the world’s most expensive city for housing, ranked bottom of the 92 housing markets assessed in […]

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