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Author: Chris Clark

  • Here are the 3 most ‘affordable’ cities to buy a house in the US — plus why they stand out in spite of today’s challenging housing market. Is it time to make a move?

    Here are the 3 most ‘affordable’ cities to buy a house in the US — plus why they stand out in spite of today’s challenging housing market. Is it time to make a move?

    As home prices and mortgage rates remain stubbornly high, finding an affordable place to buy a home has become a nearly impossible dream for many Americans.

    The national median home price hit $419,000 in early 2025, pricing out potential buyers across the country. And with mortgage rates hovering near 7%, even modest homes now come with hefty monthly payments.

    Don’t miss

    A new WalletHub study is naming the most and least affordable cities for homebuyers, based on more than just listing prices.

    The ranking of 300 cities is based on 10 key affordability metrics, including home-price-to-income ratios, rent-to-buy comparisons, property taxes, insurance costs, vacancy rates and housing availability.

    Here’s a closer look at the three cities that topped the list for overall affordability, and why they stand out despite today’s tough housing market.

    Top 3 most affordable cities in the US

    The cities at the top of the list aren’t solely based on the lowest home prices, but they offer the best balance of income, housing inventory and ownership value, according to WalletHub.

    3. Pittsburgh, Pennsylvania

    Homes in Pittsburgh may cost more than the No. 1 and 2 spots on the list, but WalletHub ranks it third thanks to strong fundamentals.

    It has one of the best rent-to-buy ratios in the country, meaning purchasing a home often makes better financial sense than renting. The median home price is also only 3.8 times the city’s average household income, which is considered a sustainable and healthy affordability benchmark.

    On top of that, Pittsburgh ranks 14th in housing availability in WalletHub’s study, offering buyers more options than most metros. Combine that with a stable economy, robust job market and high livability, and Pittsburgh becomes the most balanced city in the top three.

    2. Detroit, Michigan

    Detroit ranks second in affordability according to WalletHub, largely due to its extremely low home prices relative to local income — the second-lowest price-to-income ratio in the country. The median price per square foot is just $87, and many homes are still listed well under six figures. That makes Detroit one of the few large U.S. cities where homeownership remains financially accessible.

    The city also has a vacancy rate of 22.1%, one of the highest in the nation. While that reflects lingering effects of population loss and economic decline, it also gives buyers considerable leverage and a wide range of options. WalletHub notes that Detroit, like Flint, has a favorable rent-to-buy ratio, meaning it often costs less to buy than rent — a key driver of its high ranking.

    Like Flint, Detroit’s low housing costs are driven by long-term economic decline and urban flight — though some neighborhoods are seeing investment and renewal.

    1. Flint, Michigan

    Flint tops WalletHub’s affordability list as the most affordable city in the U.S. to buy a home, thanks to a rare combination of factors. It has the lowest price per square foot in the study at just $61, and homes in the city are also the most affordable relative to local incomes. WalletHub also notes Flint’s high rent-to-price ratio, which means it’s often cheaper to buy a home than rent one — a rare dynamic in today’s housing market.

    On top of that, Flint has a 21% vacancy rate, giving buyers more choices and leverage when shopping for homes. This high inventory contributes to the city’s affordability, even though it also signals a weaker housing demand.

    However, affordability doesn’t always mean livability. Flint has long struggled with economic hardship and infrastructure issues, most notably its ongoing water crisis. High vacancy rates reflect a still-recovering housing market and weak demand in some areas.

    Read more: You don’t have to be a millionaire to gain access to this $1B private real estate fund. In fact, you can get started with as little as $10 — here’s how

    The 3 least affordable cities for homebuyers

    While some cities offer a financial foothold for buyers, others have reached sky-high prices and offer limited inventory.

    • Irvine, CA
    • Santa Monica, CA
    • Santa Barbara, CA

    These cities rank at the very bottom of WalletHub’s affordability list. Each city’s affordability metrics make it nearly impossible for median-income households to purchase a home. Buyers in these markets face high prices, low inventory and often intense competition.

    What this data means for you

    Median home prices have jumped from $313,000 in 2019 to $419,000 today, while the 30-year fixed mortgage rate has risen to 6.81%, a sharp climb from the historic low of 2.65% in 2021.

    With prices rising, homebuyers might consider other factors when determining whether they can afford a home, and the WalletHub study shows that affordability also depends on factors like how local home prices compare to income, property taxes, vacancy rates and cost of living.

    Cities like Flint and Detroit top the list thanks to bargain home prices, but buyers have to weigh those savings against real challenges, like aging infrastructure, limited job opportunities and long-term investment potential.

    A city like Pittsburgh, while more expensive up front, offers a more balanced equation: strong rent-to-buy value, healthy inventory and better access to amenities.

    Thinking of relocating?

    Before packing your bags for a more affordable city, ask yourself these questions to ensure you’re making the right long-term move.

    • Does this city have the jobs, schools and health care I need?
    • Are home prices low because of short-term issues, or long-term disinvestment?
    • Can I afford the full cost of homeownership — including taxes, insurance and repairs — at current interest rates?
    • Will I be happy living here, not just paying less?

    What to read next

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    This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

  • After this Colorado driver was issued a ticket for exiting a lane that said it was closed, she chose to fight the city — and she managed to get it dropped for herself and 48 other motorists

    After this Colorado driver was issued a ticket for exiting a lane that said it was closed, she chose to fight the city — and she managed to get it dropped for herself and 48 other motorists

    When Heather Elliott exited an express lane on Colorado’s Interstate 25 because a highway sign indicated the lane was closed, she thought she was following the law. But instead of a clear drive to work, she ended up with an unexpected ticket and a fight against government bureaucracy — a fight she ultimately won, not just for herself but for dozens of other drivers.

    Elliott was headed to work on April 11 when she saw the closure sign, prompting her to exit the express lane. Despite this, authorities ticketed her for "toll weaving" — a citation typically given for unsafe or improper exits from express lanes. Confused and frustrated, she faced a difficult choice: simply pay the fine or dispute it.

    Don’t miss

    Believing firmly that she’d done nothing wrong, Elliott decided to challenge the ticket.

    “I thought ‘no problem,’ all I would have to do is tell them that there was an accident and I made the right choice to get over.” she told KUSA 9News.

    Her initial appeal, however, was swiftly rejected. Refusing to back down, she requested a hearing, determined to prove her case.

    Ticketed for doing the ‘safe thing’

    Unsure how to handle the dispute process alone, Elliott sought assistance from 9News. Reporter Steve Staeger looked into data from the spot where Elliott was caught exiting the lane and learned that she wasn’t the only driver ticketed.

    Staeger discovered that 48 other drivers had been ticketed for toll weaving at the same spot, on the same day. It became clear there was a systemic problem, not individual negligence.

    “I’d been warned twice now that the lane was closed, so I chose to get out of the lane because that was the smart and safe thing to do,” Elliott said of her decision to exit the toll lane.

    When she crossed the double white line indicating no lane changing allowed, the move triggered the fine.

    Just days before a scheduled hearing to review Elliott’s dispute, the Colorado Department of Transportation (CDOT) abruptly canceled it without explanation. This, after Staeger had pressed for answers about what happened and learned nearly 50 other drivers were also ticketed — more than four times the daily average for that stretch of highway.

    CDOT told 9News that the red “X” signifying the lane closure, and prompting Elliott’s lane exit, had been mistakenly left on after an accident the night before. The “X” was never turned off, which likely explains the dozens of toll-weaving violations the next day. CDOT has since wiped away those violations and has promised refunds to any driver who paid a ticket without disputing it, returning a collective $3,600 to the affected motorists.

    Read more: Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan ‘works every single time’ to kill debt, get rich in America — and that ‘anyone’ can do it

    Holding bureaucracy accountable

    Elliott’s determination highlights how important it is for drivers to question seemingly unjust citations, especially when road conditions and signs cause confusion. Her willingness to push back not only cleared her name but also benefited many others who may have been unjustly penalized.

    What should you do if you receive a questionable ticket?

    • Document everything. Take clear pictures or videos, if safely possible, of the scene to capture confusing signs or road conditions.

    • File a formal dispute, promptly. The complaint should include detailed explanations and your evidence. Early documentation can make or break your case.

    • What if I’m rejected? Don’t stop there. Consider seeking help from local advocacy groups or media outlets known for investigating consumer issues. These groups often have resources and influence you may lack individually.

    What to read next

    Stay in the know. Join 200,000+ readers and get the best of Moneywise sent straight to your inbox every week for free. Subscribe now.

    This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

  • ‘We paid for that peace’: Oakland residents furious after the city removed their DIY speed bumps ‘overnight’ — but city says their ‘solution’ only ever increased the risk on their street

    ‘We paid for that peace’: Oakland residents furious after the city removed their DIY speed bumps ‘overnight’ — but city says their ‘solution’ only ever increased the risk on their street

    Frustrated by chronic speeding and dangerous sideshows tearing through their neighborhood, residents of an Oakland neighborhood took matters into their own hands — installing DIY speed bumps after feeling ignored by city officials.

    But their grassroots solution sparked controversy when city crews tore them out, reigniting debate over citizen-led traffic calming measures.

    “We’ve had peace for the past eight months, a hard peace," Oakland man Michael Andemeskel told NBC Bay Area. "We paid for that peace with our labor and money and then the city overnight took it away without excuse and without notice.”

    What prompted residents to come with their own plan and why did the city rip it away?

    Don’t miss

    Residents implement their own speedbump DIY solution

    A 2023 AAA study found that nearly 60% of American drivers admit to engaging in risky driving behaviors, including speeding, distracted driving and aggressive maneuvers. These behaviors, AAA says, aren’t limited to highways but also occur in neighborhood settings, where they can be particularly disruptive and dangerous.

    For months, residents of the Oakland neighborhood watched as their street became a hotspot for reckless driving and illegal sideshows — events where drivers perform dangerous stunts like donuts and drifts.

    After multiple calls and complaints to city officials produced no concrete results, neighbors banded together. Pooling their own money, they collectively spent $3,000 building several speed bumps along their street in an effort to curtail dangerous driving.

    Residents say their project was verbally approved by the city’s Department of Transportation Director. Confident in their community-backed solution, they believed this would finally end the dangerous driving. Besides, Andemeskel says, the residents were told a planned repaving years down the road would give the city and residents time to find a solution that works for everyone.

    "So we’re like, ‘OK, we can work with that,’” Andemeskel told the news outlet. “Within eight years, we can figure out a solution that makes everyone happy, right?" Unfortunately, the residents’ relief was short-lived.

    City removes DIY speed bumps, chaos returns

    Earlier this month, city workers abruptly removed the homemade speed bumps, citing safety concerns. Residents were outraged. Not only had their efforts been dismantled, but multiple neighbors reported the dangerous driving returned a day later.

    The sudden reversal sparked confusion and frustration among residents who felt betrayed by the city’s apparent reversal of their earlier support. Oakland City Councilmember Charlene Wang, now representing their neighborhood, says residents and her staff weren’t warned before the city removed the bumps.

    Read more: Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan ‘works every single time’ to kill debt, get rich in America — and that ‘anyone’ can do it

    "It is exactly these kinds of quick build, cheap, easy street treatments that I ran on, especially in face of a budget deficit, of being smart, being resourceful," Wang told NBC Bay Area. "The fact that the residents did that, I think that’s pretty remarkable."

    Oakland’s response and residents’ next moves

    Josh Rowan, Oakland’s transportation director, says city officials sympathize with residents’ woes but warned that makeshift deterrents can be dangerous. "The behaviors that frustrate everyone frustrate us too," Rowan told KTVU. "When it comes to solutions, their solutions are increasing risk on the street."

    Rowan says cars have swerved out of traffic lanes because of the speed bumps, escalating the risks neighbors sought to reduce. "We want to get solutions that are solving these problems," Rowan says, adding the city was exploring additional measures to calm the activity. “But they keep getting out in front of us. And that’s not helping either us or them."

    If you have similar challenges in your neighborhood, consider these steps before spending any money out of your — or your neighbors’ — pockets:

    • Document the problems: Capture videos and photos to prove the extent of reckless driving.

    • Petition the city: Organize and submit formal petitions demanding traffic calming measures.

    • Engage local officials: Regularly attend city council meetings, engage representatives and keep pressure for official action.

    • Request official traffic studies: Push local transportation departments to conduct traffic studies to officially document the issue and expedite solutions.

    What to read next

    Stay in the know. Join 200,000+ readers and get the best of Moneywise sent straight to your inbox every week for free. Subscribe now.

    This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

  • ‘A lot of people are struggling’: Growing number of Americans using BNPL loans to pay for groceries — and they’re increasingly paying those bills late. What’s behind this troubling trend

    ‘A lot of people are struggling’: Growing number of Americans using BNPL loans to pay for groceries — and they’re increasingly paying those bills late. What’s behind this troubling trend

    When Americans start financing their weekly groceries the same way they might finance a new phone or a plane ticket, something is clearly off.

    New data suggests that’s exactly what’s happening — and for many, it’s not going well.

    Don’t miss

    A fresh study from LendingTree reveals a troubling shift: More people are turning to buy now, pay later (BNPL) loans to pay for essentials like groceries, and many are falling behind on payments. The online survey, released in April 2025, polled 2,000 U.S. adults ages 18 to 79. It found that not only are Americans increasingly using these short-term installment loans for basic needs, but roughly 2 in 5 users have missed a payment.

    “A lot of people are struggling and looking for ways to extend their budget,” Matt Schulz, Lending Tree’s chief consumer finance analyst, told NBC News. “Inflation is still a problem. Interest rates are still really high. There’s a lot of uncertainty around tariffs and other economic issues, and it’s all going to add up to a lot of people looking for ways to extend their budget however they can.”

    Financing your food?

    According to the survey, 25% of American BNPL users said they used the method to buy groceries in the past year. For Gen Z, that figure jumps to 33%. Across all categories, 41% said they made a late payment on a BNPL loan in the last year — a worrying sign that a short-term lifeline is becoming a long-term burden.

    So, why is this happening? Inflation and high grocery prices have backed many Americans into a corner. Even as overall inflation has cooled, grocery costs remain stubbornly high. The price of basic staples — eggs, bread, milk — keeps climbing, stretching household budgets thinner by the month.

    “For an awful lot of people, that’s going to mean leaning on buy now, pay later loans, for better or for worse,” Schulz said.

    And while BNPL loans can offer short-term relief, they weren’t designed to be used repeatedly for perishable goods. Originally meant for discretionary spending on things like electronics or travel, BNPL is now being used to put food on the table — and that’s raising alarm bells about both spending habits and wider economic strain.

    Read more: Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan ‘works every single time’ to kill debt, get rich in America — and that ‘anyone’ can do it

    The rise and risks of BNPL

    Companies like Klarna, Afterpay and Affirm offer BNPL plans. The model is simple: Split a purchase into several payments over a few weeks, often with no interest if you pay on time. The option is easy and built into the checkout pages for everything from Target to DoorDash.

    That frictionless convenience is exactly what makes BNPL so appealing — and so risky.

    Only recently have BNPL lenders been required to follow some of the same rules as credit card companies, including clearer disclosures and the right to dispute charges. For many purchases, lenders use soft credit pulls or none at all. Users can also open multiple loans across different platforms, often without realizing how quickly the debt adds up.

    LendingTree’s study found 60% of users had multiple BNPL loans open at once. While each payment might seem small — $25 here, $15 there — the total impact can wreck a budget, especially when combined with rent, utilities and gas.

    But the danger is clear: using debt to buy items you’ll consume in days, then repaying that debt over weeks or months, creates a disconnect between cost and consequence. And if you miss a payment? You could face late fees, overdraft charges and even hits to your credit score.

    How to avoid the BNPL grocery trap

    For Americans feeling squeezed, BNPL can seem like a lifeline. But it’s important to use these services strategically — not impulsively.

    If you’re thinking about using BNPL to pay for groceries, look into why your budget doesn’t cover the essentials. Are you overspending in other areas? Could you cut back on subscriptions or dining out?

    If there’s truly no room to maneuver and BNPL is your only option for putting food on the table, treat it like a serious financial obligation — not just a few taps at checkout. Stick to one BNPL provider to better track your payments. Set reminders to avoid late fees. And don’t use BNPL on multiple purchases in a single pay period. It’s not free money — it’s a debt, and it needs to be managed.

    If you’re in a tough spot, explore grocery assistance programs like SNAP or visit local food banks. If your income allows but you’re tempted to lean on BNPL anyway, consider building a small buffer in a high-yield savings account. Budgeting apps can also help you flag overspending and keep you on track.

    What to read next

    Stay in the know. Join 200,000+ readers and get the best of Moneywise sent straight to your inbox every week for free. Subscribe now.

    This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

  • Here are the 3 most ‘affordable’ cities to buy a house in the US — plus why they stand out in spite of today’s challenging housing market. Is it time to make a move?

    Here are the 3 most ‘affordable’ cities to buy a house in the US — plus why they stand out in spite of today’s challenging housing market. Is it time to make a move?

    As home prices and mortgage rates remain stubbornly high, finding an affordable place to buy a home has become a nearly impossible dream for many Americans.

    The national median home price hit $419,000 in early 2025, pricing out potential buyers across the country. And with mortgage rates hovering near 7%, even modest homes now come with hefty monthly payments.

    A new WalletHub study is naming the most and least affordable cities for homebuyers, based on more than just listing prices.

    The ranking of 300 cities is based on 10 key affordability metrics, including home-price-to-income ratios, rent-to-buy comparisons, property taxes, insurance costs, vacancy rates and housing availability.

    Here’s a closer look at the three cities that topped the list for overall affordability, and why they stand out despite today’s tough housing market.

    Don’t miss

    Top 3 most affordable cities in the US

    The cities at the top of the list aren’t solely based on the lowest home prices, but they offer the best balance of income, housing inventory and ownership value, according to WalletHub.

    3. Pittsburgh, Pennsylvania

    Homes in Pittsburgh may cost more than the No. 1 and 2 spots on the list, but WalletHub ranks it third thanks to strong fundamentals.

    It has one of the best rent-to-buy ratios in the country, meaning purchasing a home often makes better financial sense than renting. The median home price is also only 3.8 times the city’s average household income, which is considered a sustainable and healthy affordability benchmark.

    On top of that, Pittsburgh ranks 14th in housing availability in WalletHub’s study, offering buyers more options than most metros. Combine that with a stable economy, robust job market and high livability, and Pittsburgh becomes the most balanced city in the top three.

    2. Detroit, Michigan

    Detroit ranks second in affordability according to WalletHub, largely due to its extremely low home prices relative to local income — the second-lowest price-to-income ratio in the country. The median price per square foot is just $87, and many homes are still listed well under six figures. That makes Detroit one of the few large U.S. cities where homeownership remains financially accessible.

    The city also has a vacancy rate of 22.1%, one of the highest in the nation. While that reflects lingering effects of population loss and economic decline, it also gives buyers considerable leverage and a wide range of options. WalletHub notes that Detroit, like Flint, has a favorable rent-to-buy ratio, meaning it often costs less to buy than rent — a key driver of its high ranking.

    Like Flint, Detroit’s low housing costs are driven by long-term economic decline and urban flight — though some neighborhoods are seeing investment and renewal.

    1. Flint, Michigan

    Flint tops WalletHub’s affordability list as the most affordable city in the U.S. to buy a home, thanks to a rare combination of factors. It has the lowest price per square foot in the study at just $61, and homes in the city are also the most affordable relative to local incomes. WalletHub also notes Flint’s high rent-to-price ratio, which means it’s often cheaper to buy a home than rent one — a rare dynamic in today’s housing market.

    On top of that, Flint has a 21% vacancy rate, giving buyers more choices and leverage when shopping for homes. This high inventory contributes to the city’s affordability, even though it also signals a weaker housing demand.

    However, affordability doesn’t always mean livability. Flint has long struggled with economic hardship and infrastructure issues, most notably its ongoing water crisis. High vacancy rates reflect a still-recovering housing market and weak demand in some areas.

    Read more: Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan ‘works every single time’ to kill debt, get rich in America — and that ‘anyone’ can do it

    The 3 least affordable cities for homebuyers

    While some cities offer a financial foothold for buyers, others have reached sky-high prices and offer limited inventory.

    • Irvine, CA
    • Santa Monica, CA
    • Santa Barbara, CA

    These cities rank at the very bottom of WalletHub’s affordability list. Each city’s affordability metrics make it nearly impossible for median-income households to purchase a home. Buyers in these markets face high prices, low inventory and often intense competition.

    What this data means for you

    Median home prices have jumped from $313,000 in 2019 to $419,000 today, while the 30-year fixed mortgage rate has risen to 6.81%, a sharp climb from the historic low of 2.65% in 2021.

    With prices rising, homebuyers might consider other factors when determining whether they can afford a home, and the WalletHub study shows that affordability also depends on factors like how local home prices compare to income, property taxes, vacancy rates and cost of living.

    Cities like Flint and Detroit top the list thanks to bargain home prices, but buyers have to weigh those savings against real challenges, like aging infrastructure, limited job opportunities and long-term investment potential.

    A city like Pittsburgh, while more expensive up front, offers a more balanced equation: strong rent-to-buy value, healthy inventory and better access to amenities.

    Thinking of relocating?

    Before packing your bags for a more affordable city, ask yourself these questions to ensure you’re making the right long-term move.

    • Does this city have the jobs, schools and health care I need?
    • Are home prices low because of short-term issues, or long-term disinvestment?
    • Can I afford the full cost of homeownership — including taxes, insurance and repairs — at current interest rates?
    • Will I be happy living here, not just paying less?

    What to read next

    Stay in the know. Join 200,000+ readers and get the best of Moneywise sent straight to your inbox every week for free. Subscribe now.

    This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

  • ‘Breakfast, lunch and dinner’: Multiple guests launch lawsuits against 2 Las Vegas Strip hotels, claiming they were ‘massacred’ by bedbugs — how to avoid sleeping in an infested room

    ‘Breakfast, lunch and dinner’: Multiple guests launch lawsuits against 2 Las Vegas Strip hotels, claiming they were ‘massacred’ by bedbugs — how to avoid sleeping in an infested room

    A pair of hotels along the Las Vegas Strip are facing lawsuits after guests reported being bitten by bedbugs, one requiring a hospital visit.

    Four visitors filed three lawsuits — two against the Luxor Hotel & Casino and one against Treasure Island — on April 21, according to 8 News Now, with guests saying in court documents they were “massacred” by bedbugs and left with scars.

    Don’t miss

    “The hotel operator has a responsibility to make sure that that room is bedbug-free,” Brian Virag, an attorney representing the guests, told the local broadcaster in a story published May 12.

    Here are the details behind the story, and what you can do if you’re ever in this situation.

    Bedbug lawsuits

    One lawsuit involves California woman Teresa Bruce, and says she stayed at the hotel Treasure Island last June. According to 8 News Now, Bruce’s lawsuit alleges staff confirmed the presence of bedbugs in her room. After switching rooms, she noticed further bites, and staff allegedly once again found bedbugs.

    Illinois residents Courtney and Stephen Gully have sued the Luxor Hotel after Courtney allegedly had a reaction to bedbugs in their room in which she felt like her throat was closing. Per 8 News Now, the lawsuit states staff had to send an EMT to her room and an ambulance took her to the hospital where she was seen in the parking lot and given narcotics. Luxor refunded the resort fee following the incident last June.

    The final guest, Brianna McKenzie of Washington, stayed at the Luxor when the hotel allegedly confirmed the presence of bedbugs in her room last July, according to the Las Vegas Review-Journal.

    Virag shared photos with the broadcaster of bite marks he says were from his clients. Every hotel guest, he says, regardless of how nice an establishment, should be protected from bedbugs.

    “It doesn’t matter if you’re paying $60 a night for a room, or $600 a night for a room. The obligation on the hotel operator is the same — you have to keep the guests safe,” he said.

    Read more: Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan ‘works every single time’ to kill debt, get rich in America — and that ‘anyone’ can do it

    Journalists reached out to MGM International, owner of the Luxor, and Treasure Island for comment but did not immediately get a response.

    This isn’t the first time Las Vegas hotels have been accused of bedbug infestations. Last fall, 8 News Now published a story on guests reporting bedbugs at four other hotels over a six-month period, according to the Southern Nevada Health District.

    Avoiding bedbugs

    Staying in a hotel with bedbugs is more than just an inconvenience. Bites can occasionally result in severe reactions and your personal belongings may become infested.

    While even the cleanest hotels can fall victim to bed bugs, there are preventative measures you can take to try to avoid staying in an infested hotel.

    Make sure to check reviews through websites like Google, TripAdvisor or Yelp and specifically search for the term “bedbugs.” Keep an eye out for any reviews about recent infestations.

    If you wish, you can call the hotel to inquire about their bedbug protocols and other pest control procedures, and specifically ask how often each room is checked and/or treated.

    Once you arrive at your room, inspect common bedbug locations for signs of an infestation. They may be found in mattresses and around headboards, wall art and baseboards. Bedbugs are small and reddish-brown colored. Their eggs appear as tiny white specks and their feces are small black dots. Be on the lookout for blood spots on bedsheets. Bedbug bites may appear as clusters or in a linear pattern on exposed skin.

    “They typically will bite in linear patterns,” Virag said while gesturing a bite sequence on his arm. “We call it breakfast, lunch and dinner.”

    What to read next

    Stay in the know. Join 200,000+ readers and get the best of Moneywise sent straight to your inbox every week for free. Subscribe now.

    This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

  • Homeowners in this 1 state have watched helplessly as their insurance costs have spiked faster than anywhere else in the US — and it’s not Florida or California. How to handle rising rates

    Homeowners in this 1 state have watched helplessly as their insurance costs have spiked faster than anywhere else in the US — and it’s not Florida or California. How to handle rising rates

    Homeowners across Texas are nearly helpless as insurance costs in the state are rising faster than almost anywhere else in the country. Skyrocketing premiums and property taxes are pushing homeowners to the brink and giving prospective buyers serious pause.

    Dallas-area resident Doreen Diego says her home insurance premiums have been climbing by $1,000 a year since 2021: “The next year we went to $2,700,” she told Fox 4 News. “The next year we went to $3,700. And our renewal just came up this month. We just paid it at $4,700."

    In 2024, the average annual premium in Texas reached around $6,000, nearly double the national average of $3,200. Projections suggest this could rise by another 9%, potentially surpassing $6,500 by the end of 2025. Ballooning premiums are turning homeownership from a dream into a financial stress test, and many residents are asking the same question: What can they do about it?

    Don’t miss

    What’s behind the insurance hikes?

    A mix of factors is driving insurance rates higher across Texas:

    • Frequent severe weather, including hurricanes, hailstorms, tornadoes and floods
    • Rising home repair and construction costs
    • Inflation, pushing up the price of materials and labor
    • Harsh winter storms, which have caused frozen pipes and power grid failures
    • Limited competition among insurers, giving consumers fewer options

    Nearly 70 disasters — each doing $1 billion or more in damage — have struck Texas in the last five years, data analyst Chase Gardner with Insurify, an insurance comparison company, told KPRC in Houston. “From hurricanes to hailstorms, almost every kind of natural disaster that can damage a home is a threat here.”

    Property taxes pile on the pain

    Although Texas is one of nine states that doesn’t levy a state income tax, the burden is shifted elsewhere, most notably through property taxes.

    Texas homeowners pay an average effective property tax rate of 1.63%, among the highest in the country. Combined with rising insurance premiums, Texans are now paying thousands more annually just to stay in their homes, and realtors say buyers should weigh these costs heavily before moving forward.

    "How about let’s get the insurance checked on before we even do any other due diligence on the home. That’s the first thing during your option period that I’m telling my buyers to do,” realtor Ashley Gentry told Fox 4 News. To avoid the premiums pricing buyers out of homes, she said to "make sure they can actually afford the insurance premiums" first.

    Read more: Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan ‘works every single time’ to kill debt, get rich in America — and that ‘anyone’ can do it

    Can lawmakers bring relief?

    In 2023, the Texas Legislature passed a $12.7 billion property tax relief package, but only addressed taxes. When it comes to insurance, there’s far less movement.

    Despite calls from consumer advocates, no sweeping legislation has been passed to curb home insurance hikes. Many lawmakers point to the private nature of the market and the complex web of climate-related risk models insurers use to help set rates.

    Tips for homebuyers braving the market

    If you’re looking to buy a home in Texas, insurance costs should be part of your budget from day one. Here’s how to approach it:

    • Get a full monthly cost estimate upfront. Don’t just ask your realtor about mortgage payments — ask them to factor in home insurance and property taxes as well. These can significantly impact your ability to afford the home.
    • Be cautious with older homes or properties in high-risk areas. While these listings may be cheaper upfront, they often come with much higher insurance costs due to increased vulnerability to wind, flood or foundation damage.
    • Request a CLUE report (Comprehensive Loss Underwriting Exchange). This report shows the property’s insurance claim history and can reveal hidden red flags before you commit.
    • Ask about bundling discounts. Many insurers offer lower rates when you bundle your home and auto insurance.
    • Shop around. Not all insurers weigh risks the same way, especially in storm-prone regions. It pays to compare quotes.
    • Look into additional discounts. Some providers offer savings for home security systems, wind mitigation features, fire-resistant materials or recent upgrades that reduce risk.

    Strategies for current homeowners facing rising premiums

    If you’re already in your home and watching premiums rise, don’t panic. There are steps you can take to rein in costs:

    • Invest in preventative upgrades. Improvements like reinforced roofing, updated wiring, leak detection systems and storm-proofing can reduce your home’s risk profile — and may make you eligible for insurer discounts.
    • Re-shop your policy annually. Loyalty doesn’t always pay in insurance. A different provider may offer the same or better coverage at a lower rate, especially if your home improvements reduce perceived risk.
    • Re-shop your policy every year. Loyalty doesn’t always pay in insurance. A new provider might offer similar or better coverage for less.

    What to read next

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    This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

  • Here’s the withdrawal rate Canadian retirees need to start using in 2025, according to new report — and it’s shockingly low

    Here’s the withdrawal rate Canadian retirees need to start using in 2025, according to new report — and it’s shockingly low

    Retirees, brace yourselves: The golden rule of retirement withdrawals just got a cold dose of reality. A report from Morningstar recommends the safe withdrawal rate for retirees in 2025 is a mere 3.7% — a significant adjustment from the decades-old 4% rule that had dominated retirement planning.

    Amid rising costs, volatile markets and new prospects for inflation, a lower rate could disrupt the way many retirees think about their financial strategies.

    If you’re wondering what Morningstart’s updated benchmark means for your golden years — and whether you’ll have enough to sustain a 30-plus-year retirement — it’s time to dig deeper into how you can adjust your plan for success.

    What is the safe withdrawal rate for 2025?

    A safe withdrawal rate is the percentage of your retirement savings you should be able to withdraw annually without risk of your money running out too soon.

    For decades, the 4% rule was the de facto standard, offering retirees a simple formula for how much of their nest egg they could withdraw each year in order to make it last for 30 years. (Remember: the safe withdrawal rate is not law, but rather a suggested guide from financial planners.)

    In recent years, the benchmark has come under fire from finance experts, including Suze Orman, who say the rule has become a cookie-cutter prescription that doesn’t account for retirees’ varied financial needs.

    Orman says those who need a target should consider 3%to stretch their money as long as possible, while the financial adviser credited with coining the rule, Bill Bengen, now says the rate should be 4.7%.

    Morningstar’s updated analysis points to 3.7% as its new suggested rate, down slightly from 4% in 2024, but what is the reason behind this?

    Why has the rate dropped?

    Morningstar’s downward revision stems from a combination of economic and demographic factors:

    • Market uncertainty: After years of market turbulence, including fluctuating interest rates, retirees face increased risks to their investments.
    • Persistent inflation: Although inflation has cooled somewhat since its peak in 2022-2023, it remains above pre-pandemic levels, making everyday expenses more costly.
    • Longevity trends: Canadians are living longer, which means retirees must plan for more years of spending — potentially, 30 to 40 years in retirement.

    These factors underscore the need for a cautious approach to withdrawals, especially in the early years of retirement when overspending can have long-term consequences.

    How to calculate your safe withdrawal rate

    Knowing what rate is best for you starts with understanding your retirement savings and expected expenses. Let’s say you’ve saved $900,000 for retirement.

    Using the new 3.7% guideline, you’d withdraw $33,300 annually. By contrast, the 4% rule equates to withdrawing $36,000 annually.

    Now, compare this number to your expected yearly expenses. If your spending exceeds your withdrawal amount, you may need to explore ways to cut costs, boost income or supplement withdrawals with other savings or investments.

    For retirees with diverse portfolios, adjusting withdrawals based on market conditions can also help preserve savings. For example, in years when the market performs well, you might take out slightly more, while pulling back during downturns to protect your principal.

    Withdrawal strategies for 2025

    Adopting the right withdrawal strategy is crucial for retirees navigating today’s uncertain economic landscape. Here are a few approaches to consider:

    • The 3.7% rule: Stick to the updated safe withdrawal rate, recalibrating annually to account for changes in expenses and portfolio performance. This conservative approach prioritizes long-term stability.
    • Bucket strategy: Divide your assets into “buckets” based on short-, medium- and long-term needs. For example, cash or bonds for immediate expenses and stocks for long-term growth.
    • Dynamic withdrawals: Adjust withdrawals based on portfolio returns. In good years, withdraw more; in bad years, reduce spending to extend the longevity of your savings.

    Each strategy has its risks and rewards. The 3.7% rule offers simplicity and a steady income but may feel too restrictive for retirees with large savings or shorter life expectancies. Dynamic strategies provide flexibility, but require careful monitoring and may not work for those who prefer predictable income.

    Pros and cons of a higher withdrawal rate

    Taking out more than 3.7% annually might seem tempting, especially if you have a substantial nest egg or immediate financial needs.

    But there are risks: Withdrawing too much early in retirement increases the likelihood of depleting your savings later — particularly if market conditions worsen.

    On the flip side, retirees with shorter life expectancies or guaranteed income sources, like pensions, may justify higher withdrawal rates.

    For instance, someone with $900,000 saved and a $30,000 annual pension might comfortably withdraw 4% to 5% of their savings without jeopardizing their financial future.

    Planning for success

    The lower safe withdrawal rate for 2025 is a wake-up call for retirees to reassess their financial plans.

    If you’re nearing retirement or already retired, consider reevaluating your budget to identify discretionary expenses you can trim to reduce withdrawals. Explore part-time work, annuities or rental income to supplement savings.

    A professional can help you create a tailored withdrawal strategy that aligns with your goals and risk tolerance.

    Sources

    1. Morningstar: Retirees, Here’s What Your Withdrawal Rate Should Be in 2025, by Christine Benz and Susan Dziubinski (Jan 2, 2025)

    1. YouTube: Suze Orman: Why High Income Earners Are Living Paycheck To Paycheck (May 26, 2023)

    1. Statistics Canada: Key findings from the Health of Canadians report, 2024 (Mar 3, 2025)

    This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

  • I got a great deal on a car on Facebook Marketplace — but now I’ve spent thousands on repairs and the transmission just failed. I’m already in debt with no emergency cash. What do I do?

    I got a great deal on a car on Facebook Marketplace — but now I’ve spent thousands on repairs and the transmission just failed. I’m already in debt with no emergency cash. What do I do?

    When you buy a used car through Facebook Marketplace, you’re usually hoping to snag a good deal on a replacement ride. But what happens when that “deal” turns into a money pit?

    Let’s consider the case of a 35-year-old woman who, needing a budget-friendly vehicle to get to a new job, buys a used sedan from a Facebook Marketplace seller. It looks solid, seems to drive fine and the price is right. But within months, she’s spent thousands on repairs — and now the transmission has completely failed. With no emergency savings and already deep in debt, she’s stuck. Should she pay even more to fix the car, or cut her losses and move on?

    Here’s how to weigh your options in a situation like this and what you can do to avoid falling into the same trap.

    Don’t miss

    Weighing your repair options

    A failed transmission isn’t just another repair — it’s one of the most expensive issues your car can have. Replacing it could cost anywhere from $2,500 to over $5,000, according to J.D. Power. That’s a large bill for most people, especially for someone already in debt.

    • Get a second opinion. Transmission estimates can vary widely, and some shops may recommend a full replacement when a rebuild or repair would suffice. Independent mechanics or transmission specialists may offer better pricing than dealerships.

    • Look into used or rebuilt transmissions. These can be significantly cheaper than brand-new parts and often come with warranties.

    • Ask about payment plans. Many repair shops offer financing or “buy now, pay later” options. These can help in the short term, but be careful, they often come with high interest rates or fees.

    If the cost is still out of reach, it’s time to decide whether the car is worth saving.

    Should you repair or walk away?

    This decision depends on a few key factors:

    The car’s value

    If you’ve already spent thousands and the repair will cost thousands more, compare that total to what the car is actually worth. If the numbers don’t add up, continuing to invest might not be worth it.

    Your lifestyle and transportation needs

    Can you function without a car—at least temporarily? Public transit, biking, carpooling or rideshare services may be viable options while you regroup financially. But if you live in an area where a car is essential, you may have fewer choices.

    Your financial situation

    If repairing the car would prevent you from paying for essentials like rent, food or insurance, it’s probably time to move on. Even selling the car for scrap or parts might be a better outcome than digging deeper into high-interest debt.

    Ultimately, you want to avoid throwing good money after bad. A car that continues to drain your finances can impact your ability to build savings, pay off debt or even maintain your credit score.

    Read more: Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan ‘works every single time’ to kill debt, get rich in America — and that ‘anyone’ can do it

    Tips for avoiding costly used car pitfalls

    Facebook Marketplace doesn’t offer buyer protections like a dealership might, which makes it even more important to do your homework before purchasing a used car. Here are some smart steps to take before you buy:

    • Ask the seller to agree to a thorough inspection: Always insist on an independent mechanic’s inspection of any used car before purchasing. A professional evaluation can uncover hidden issues, saving you from future headaches.
    • Request vehicle history reports: Obtain reports from reputable services like Carfax or AutoCheck. These reports can reveal accident histories, mileage discrepancies or major repairs.
    • Verify maintenance records: Check if the previous owner maintained regular service intervals. Cars consistently serviced typically have fewer hidden problems.
    • Be cautious on social platforms: Buying cars on platforms like Facebook Marketplace can save money but comes with higher risks. Always meet in public, request comprehensive paperwork, and verify the seller’s identity.

    According to Capital One, more than 250 million people use Facebook Marketplace to sell items — but it’s still the digital Wild West when it comes to cars. Take precautions to avoid being stuck with someone else’s problem.

    Buying a used car off Facebook Marketplace can be a smart way to save. But when a deal turns into a debt trap, you need to act fast. Shop around, get honest repair quotes and take a hard look at whether fixing the car is financially feasible. And if you decide to buy again, be thorough. A little caution upfront can save you a lot of cash down the road.’

    What to read next

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    This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

  • Houston residents say partygoers have turned their streets into parking lots — and are banding together to press the city to take action. What to do if a party house is causing you problems

    Houston residents say partygoers have turned their streets into parking lots — and are banding together to press the city to take action. What to do if a party house is causing you problems

    What happens when your neighborhood turns into a weekend party zone, and you can’t even back your car out of the driveway? Some residents in Houston are finding out the hard way, as locals say an influx of partygoers has overwhelmed their once-quiet streets.

    “Sometimes you can’t even drive up and down the street,” one resident, who asked not to be named, told KHOU 11 News in a story published June 8. “Some people have even just pulled up in my driveway and just chose to stay there for the evening, so it can get frustrating for sure.”

    He added that sometimes the noise lasts well into the early morning hours.

    Don’t miss

    KHOU 11 News visited the area — near Emancipation Ave. and Wheeler Ave. — one day and found traffic was backed up while noting there were several businesses that attracted large crowds.

    So, what happens when the party doesn’t stop in your neighborhood?

    Neighbors band together

    Not all businesses close to the intersection appreciate the influx of people at night. Damon Glaspie, who operates several nearby parking lots, says the extra traffic has been a hindrance.

    “We need to make sure our driveways are clear, our lanes are clear, so we can get people in and out safely,” he told KHOU 11 News.

    Houston city council member Carolyn Evans-Shabazz, who represents the area, pledged to stay on top of the disturbances and ensure police were on patrol regularly.

    “We want them to know that it is not acceptable,” she told KHOU 11 News.

    Meanwhile, the local broadcaster reports residents recently came together to get the city to enforce residential permit parking, with new rules set to go into effect by the end of June.

    Read more: Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan ‘works every single time’ to kill debt, get rich in America — and that ‘anyone’ can do it

    When the party takes over your block

    If your neighborhood is facing a similar issue, the first step is knowing your rights and local laws. Here’s what anyone dealing with party house problems can do:

    Document everything: Keep a log and take photos or videos of blocked driveways, noise violations and unsafe behavior. This evidence can support complaints to the city or police.

    Call 3-1-1: Many cities in the U.S. have a 3-1-1 hotline in place for non-emergency services. This allows residents to report parking violations, code enforcement issues and more.

    Call the police: If you feel it’s warranted, consider contacting local police to deal with neighborhood disturbances.

    Appeal to your city representative: Reaching out to elected officials can help escalate any issues. Council offices track constituent complaints and may apply pressure for faster regulation.

    Organize your neighbors: A coordinated effort — petitions, neighborhood meetings or local media outreach — can amplify everyone’s voices and demonstrate that the issue is widespread.

    What to read next

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    This article provides information only and should not be construed as advice. It is provided without warranty of any kind.