“Buy now, pay later” loans were originally promoted as a way to help consumers afford small purchases, such as electronics and clothing. Now, financial firms are also pushing the loans as a means for people to cover essential expenses, such as rent, groceries, electricity bills and even medical costs. Consumer advocates warn that using BNPL…
Redfin and Zillow must amend a commercial agreement the real estate firms struck last year because it weakened competition in the home rental market and harmed consumers, federal regulators said on Monday. The settlement, announced Monday by the Federal Trade Commission, resolves an antitrust lawsuit the agency filed last year. The FTC alleged that Zillow paid…
Sky-high rental costs across the U.S. are swallowing up a large share of Americans’ paychecks in cities, as a stubborn supply shortage keeps prices elevated. According to Zillow, the median rent for a two-bedroom home in New York City, the country’s priciest metro area, runs $4,750 a month — or $57,000 a year. That’s more…
A growing number of young people see themselves as “forever renters” because they can’t afford to buy a home, due to short supply, higher mortgage rates, and incomes that haven’t kept up with rising home prices. Correspondent Jo Ling Kent examines the difficulties of today’s housing market, and checks out one Midwestern city’s program aimed…
The Emmy Award-winning “CBS News Sunday Morning” is broadcast on CBS Sundays beginning at 9:00 a.m. ET. “Sunday Morning” also streams on the CBS News app beginning at 11:00 a.m. ET. (Download it here.) This week we present a rebroadcast of “The Money Issue,” our annual special broadcast hosted by Jane Pauley dedicated to the many ways…
