Industry analysts expect strong growth as the housing market improves, particularly in once hard-hit Sun Belt areas including Phoenix, Miami and San Diego, California, and aging Americans find value in growing old in their homes. They are also being boosted by high-appreciation, gentrifying neighborhoods in older cities such as New York's Brooklyn borough.» Read More
NEW YORK— Fall used to be off-peak for tourism everywhere except New England and other fall foliage destinations. Lara Berdine and Mark Petrella, New Yorkers in their 40 s, visit Italy each fall because "it's cheaper, the weather is cooler and we can see the country as it really is, rather than in high season when it's inundated with tourists," said Berdine.
After struggling with divorce, health problems and an underwater home mortgage, the 57- year-old anticipates there could come a day when her Social Security benefits will be docked to make the payments. Tens of thousands of them even see their Social Security benefits garnished when they cannot do so.
ALBANY, N.Y.— AARP says many Baby Boomers plan to leave New York as they retire and take a slice of the state's economy with them.
LONDON, Sept 3- Pressure on western workers from the integration of China and other emerging giants into the world economy shows no sign of abating and that protracted shock will also keep borrowing rates subdued for years to come.
DETROIT— The seismic shift in American car-buying toward trucks and crossover SUVs is creating great deals on compact and midsize cars. The change became even more pronounced in August, with companies such as General Motors and Chrysler reporting that truck sales, including crossover SUVS, were up while car sales fell.
Home ownership rates in will likely fall to levels last seen in the 1980s as millennials wait longer to form households, DoubleLine's Gundlach said.
Retirees are eating out more and more, but to make it work with their budgets they are forced to be frugal. The USAToday reports.
WASHINGTON, July 23- Wages may be growing at a faster clip than envisaged by U.S. policymakers, with a recent raft of business surveys showing an increase in the number of companies raising compensation.
Scammers posing as distressed grandkids are scamming grandparents into sending them money wires and credit cards. FT reports.
June 24- Howie Barokas had just ridden his Harley-Davidson Ultra Limited on Highway 50 across the searing Nevada desert when he heard about the company's new electric motorcycle. Then again, Harley-Davidson Inc was looking beyond loyal baby boomers like 49- year-old Barokas when it unveiled its first electric prototype bike last Thursday.
June 19- Drugstore operator Rite Aid Corp said higher drug costs and a fall in reimbursement rates would continue into the second quarter, sending it shares down 4.4 percent. Rite Aid's shares have been on a tear for most of the past year, until the company warned on first-quarter profit and cut its full-year earnings forecast earlier this month.
New York, June 13- The big retirement benefit consultants are facing increasing competition as financial advisers move in on their turf, according to Chip Castille, the head of BlackRock's U.S. retirement group.
WASHINGTON, June 5- For the first time in six years, the share of people who either have a job or are looking for one is on the rise in a majority of U.S. states, a sign one of the deepest scars of the economic crisis could be healing.
NEW YORK, May 19- In an era of stagnant wages and rising prices, Americans are expected not only to pay the daily bills and save millions for retirement, but also put away enough for college for their kids. Grandparents such as Maureen Reiter. The firm's 2014 529 Consumer Survey found that 13.1 percent of 529 accounts are now owned by grandparents.
Six years after the financial crisis, birth rates haven't bounced back. For the economy, that's bad news.
WASHINGTON, May 2- U.S. employers hired workers at the fastest clip in more than two years in April, pointing to a rebound in economic growth after a dreadful winter and keeping the Federal Reserve on track to end bond purchases this year. Nonfarm payrolls surged 288,000 last month, the Labor Department said on Friday.
TORONTO, May 1- Manulife Financial Corp said on Thursday its first-quarter profit rose by more than 50 percent as a stronger investment performance and higher wealth management fees more than offset weaker insurance sales, but the results just missed analysts' estimates.
NEW YORK, April 30- When it came time for Tom Moser and his wife to consider having his 83- year-old father move in with them, a house with a special multigenerational floor plan solved their problems- and may have saved his dad's life.
LOS ANGELES, April 25- Home ownership rates in the United States will likely fall to levels last seen in the 1980 s as baby boomers retire and millennials wait longer to form households, the manager of the DoubleLine Total Return fund said Friday, recommending that investors short exchange-traded funds focused on homebuilding companies.
Home ownership rates in the United States will likely fall to levels last seen in the 1980s, Jeffrey Gundlach says.