Author: Chris Clark

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.

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• Gain potential quarterly income through this $1B private real estate fund — even if you’re not a millionaire. Here’s how to get started with as little as $10

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

• JPMorgan sees gold soaring to $6,000/ounce — use this 1 simple IRA trick to lock in those potential shiny gains (before it’s too late)
• This is how American car dealers use the ‘4-square method’ to make big profits off you — and how you can ensure you pay a fair price for all your vehicle costs
• Here are 5 ‘must have’ items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you?
• How much cash do you plan to keep on hand after you retire? Here are 3 of the biggest reasons you’ll need a substantial stash of savings in retirement

Like what you read? Join 200,000+ readers and get the best of Moneywise straight to your inbox every week. Subscribe for free.

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

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?

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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.

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Like what you read? Join 200,000+ readers and get the best of Moneywise straight to your inbox every week. Subscribe for free.

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

When Michael Flores paid $20,000 to remove asbestos from his attic, he didn’t expect to find the toxic material still there — or to learn that the crew had never obtained a license in the first place.

Flores had bought the 100-year-old Ottawa, Illinois, home with plans to turn it into a vacation rental near Starved Rock State Park. Knowing the attic was filled with vermiculite insulation — a material often containing asbestos — he hired a local crew to remove it safely.

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But after the crew from Clean Air Asbestos and Mold Control LLC declared the job done, Flores went to check for himself — and was stunned. The dangerous insulation was still sitting in the attic.

He sent photos of the leftover material to the company, expecting them to fix the issue. Instead, the owner insisted the work was complete. “I was like, ‘No, that’s impossible.’” Flores told CBS Chicago.

Flores called in another contractor for a second cleaning. That expert confirmed the attic was still hazardous and “too dangerous for anyone to be here working.” Flores paid an additional $8,000 to finish what should have been done the first time.

Whether you’re a homeowner or a contractor, it’s the kind of nightmare scenario that makes you ill — pay out the money to eliminate a serious health threat, only to discover the danger is still present. And Flores couldn’t shake the feeling that something was wrong.

What the first crew missed

When Flores later reviewed security footage from his garage, he was disturbed to see workers without proper protective gear — a clear breach of safety protocol.

The vacuum being used didn’t appear to contain the asbestos at all — it seemed to be blowing dust, likely full of fibers, back into the air.

Suspecting something was wrong, Flores contacted the vacuum’s manufacturer, who confirmed it wasn’t designed for asbestos removal — only standard insulation.

Flores ultimately escalated the issue to the Illinois Department of Public Health (IDPH), submitting camera footage, videos of his attic, and the email from the vacuum manufacturer.

More than 200,000 people die each year worldwide from asbestos-related diseases, according to the World Health Organization. Toxic asbestos fibers, when inhaled, can cause devastating illnesses like mesothelioma, lung disease, and even death. The United States account for between 12,000 and 15,000 deaths each year.

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 state’s response

Internal emails from the IDPH, obtained by CBS Chicago, revealed that employees knew Clean Air Asbestos and Mold Control LLC “stretched the truth.” But Flores was out of luck.

Under Illinois law, asbestos abatement licenses are only required for public buildings, commercial properties and multi-unit residences. That means companies like Clean Air Asbestos and Mold Control LLC can legally take on single-family home jobs — no license required.

CBS Chicago contacted agencies across the country and found inconsistent rules. About 25 states responded, many with murky policies that don’t regulate asbestos removal in private homes.

Only seven states — Maine, Maryland, New York, Utah, Vermont, Virginia and West Virginia — require a license for any asbestos removal, including single-family in private homes.

Dr. Arthur Frank, an environmental and occupational health professor at Drexel University, called it a dangerous loophole.

"It doesn’t matter if it’s a household or a commercial entity, or anyplace else,” Frank told CBS Chicago. “If there’s asbestos, you need to remove it properly and safely, and somebody ought to be regulating it. As little as one day of exposure has given some people and some animals mesotheliomas.”

Ridding your home of asbestos

Asbestos removal is serious work — and hiring a properly certified professional is critical.

If your state requires a license, confirm the company holds one and ask for individual asbestos removal certifications. Make sure they’re certified by both the Environmental Protection Agency and the Occupational Safety and Health Administration.

Before the job starts, ask the contractor to walk you through the full abatement process. A reputable contractor should include an initial inspection, sealing off the area with HEPA filtration, minimizing airborne particles with a wetting agent, a final clearance test and proper disposal of all materials.

As always, check reviews online with the Better Business Bureau and on contracting sites. For as large — and expensive — as asbestos removal, don’t hesitate to ask for recent references.

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• Here are 5 ‘must have’ items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you?
• How much cash do you plan to keep on hand after you retire? Here are 3 of the biggest reasons you’ll need a substantial stash of savings in retirement

Like what you read? Join 200,000+ readers and get the best of Moneywise straight to your inbox every week. Subscribe for free.

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

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.

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• I’m 49 years old and have nothing saved for retirement — what should I do? Don’t panic. Here are 6 of the easiest ways you can catch up (and fast)
• Robert Kiyosaki warns of a ‘Greater Depression’ coming to the US — with millions of Americans going poor. But he says these 2 ‘easy-money’ assets will bring in ‘great wealth’. How to get in now
• Gain potential quarterly income through this $1B private real estate fund — even if you’re not a millionaire. Here’s how to get started with as little as $10

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

• JPMorgan sees gold soaring to $6,000/ounce — use this 1 simple IRA trick to lock in those potential shiny gains (before it’s too late)
• This is how American car dealers use the ‘4-square method’ to make big profits off you — and how you can ensure you pay a fair price for all your vehicle costs
• Here are 5 ‘must have’ items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you?
• How much cash do you plan to keep on hand after you retire? Here are 3 of the biggest reasons you’ll need a substantial stash of savings in retirement

Like what you read? Join 200,000+ readers and get the best of Moneywise straight to your inbox every week. Subscribe for free.

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

Few things are as inconvenient than an unwanted visitor who just won’t leave. But the reality was more than mere annoyance for Washington, D.C. resident Linda Chaplin, whose apartment was overrun by raccoons for more than a year.

After months of unanswered complaints, Chaplin has finally been able to move into a new space, according to ABC 7News. But the path to a new home has been anything but easy.

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Here’s how she finally broke free from the infestation.

Wildlife intervention

After getting basically ignored by her Congress Park Plaza landlord, who had only put up wooden boards over the holes in her home, Chaplin reached out to 7News in one final attempt to get help.

Chaplin shared photos of raccoons poking their heads through holes in her home with the news team. The animals had dug their way through the wooden boards, and when local reporters visited Chaplin’s government-managed property, they witnessed a raccoon knocking a clock off her wall.

“I’m going crazy, makes me seem like I’m going crazy, losing my mind,” Chaplin told 7News. “If I go to sleep, I’m scared they’re going to come out. They scratch the walls.”

The team at 7News looked into Chaplin’s management company, SE Washington Development Associates II LP, and discovered they’re facing numerous violations, fines and lawsuits. And that landlord is managed by the Department of Housing and Urban Development (HUD).

After 7News aired its report, the building finally called out a wildlife team to her home to remove one of the raccoons — and returned to remove 14 more. The critters had clearly made their home in Chaplin’s apartment, as well as the neighboring units.

Wildlife Solutions said that Chaplin’s infestation was the worst they’d seen in a single property and that if the landlord had called them six months earlier, Chaplin would have been able to remain in her home safely. But now, the only way to address the situation was to move Chaplin out.

“They might as well pay rent in here then," Chaplin told 7News, referring to the animals. “They might as well pay rent, not me, they’re running me out [of] my home. It’s crazy.”

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

Obligations to keep tenants safe

Throughout the station’s investigation, reporters found the process for reporting unsafe conditions in government housing was a challenge, contacting multiple government offices, housing agencies and tenant associations.

HUD rules show that government-managed properties have no less obligation to ensure safe living conditions for tenants than private management companies. Public Housing Agencies (PHAs) and property owners are expected to be communicative with residents on all issues, and any complaint should be resolved as soon as possible. Property agents are not allowed to retaliate, intimidate, harass or neglect any resident filing a complaint.

HUD codes hold that PHAs are “required to either make repairs to such conditions within a reasonable period of time or to abate the situation (usually by moving the tenant’s family).”

Making your voice heard in unsafe living conditions

Chaplin’s situation is unfortunately not unique. About 2.2 million Americans are living in public housing and thousands may be experiencing poor conditions such as mold, plumbing issues, pest infestations and lead paint, according to governing.com. In such cases, it’s important for tenants to advocate for themselves and demand their rights to a safe dwelling.

One of the first steps to reporting unsafe conditions is to contact the PHA managing your property. If management doesn’t immediately address the issue, like in Chaplin’s case, a tenant may need to contact HUD directly to report housing discrimination. Make sure to include documentation of complaints already filed with the PHA and include descriptions and photos of the conditions.

A tenant may also want to reach out to local tenant organizations or legal aid groups who can help access free or low-cost legal help, as well as help locate a replacement dwelling if the PHA won’t address the conditions.

According to HUD, a tenant has the right to organize with neighbors and distribute information to other residents if the issue is widespread throughout the property.

And, like Chaplin, a tenant might consider contacting local news stations, which often have hotlines or other ways to lodge complaints, create unwanted attention for the landlord and force a quick resolution.

What to read next

• JPMorgan sees gold soaring to $6,000/ounce — use this 1 simple IRA trick to lock in those potential shiny gains (before it’s too late)
• This is how American car dealers use the ‘4-square method’ to make big profits off you — and how you can ensure you pay a fair price for all your vehicle costs
• Here are 5 ‘must have’ items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you?
• How much cash do you plan to keep on hand after you retire? Here are 3 of the biggest reasons you’ll need a substantial stash of savings in retirement

Like what you read? Join 200,000+ readers and get the best of Moneywise straight to your inbox every week. Subscribe for free.

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

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.

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• Robert Kiyosaki warns of a ‘Greater Depression’ coming to the US — with millions of Americans going poor. But he says these 2 ‘easy-money’ assets will bring in ‘great wealth’. How to get in now
• Gain potential quarterly income through this $1B private real estate fund — even if you’re not a millionaire. Here’s how to get started with as little as $10

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?

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• How much cash do you plan to keep on hand after you retire? Here are 3 of the biggest reasons you’ll need a substantial stash of savings in retirement

Like what you read? Join 200,000+ readers and get the best of Moneywise straight to your inbox every week. Subscribe for free.

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

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.

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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

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• Here are 5 ‘must have’ items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you?
• How much cash do you plan to keep on hand after you retire? Here are 3 of the biggest reasons you’ll need a substantial stash of savings in retirement

Like what you read? Join 200,000+ readers and get the best of Moneywise straight to your inbox every week. Subscribe for free.

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

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.

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“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

• JPMorgan sees gold soaring to $6,000/ounce — use this 1 simple IRA trick to lock in those potential shiny gains (before it’s too late)
• This is how American car dealers use the ‘4-square method’ to make big profits off you — and how you can ensure you pay a fair price for all your vehicle costs
• Here are 5 ‘must have’ items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you?
• How much cash do you plan to keep on hand after you retire? Here are 3 of the biggest reasons you’ll need a substantial stash of savings in retirement

Like what you read? Join 200,000+ readers and get the best of Moneywise straight to your inbox every week. Subscribe for free.

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

More Americans are afraid of going broke than they are of dying.

A new study by Allianz Life lays it bare: 64% of Americans say they fear running out of money ahead of death itself. Furthermore, 62% say they’re not saving as much for retirement as they’d like.

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• Gain potential quarterly income through this $1B private real estate fund — even if you’re not a millionaire. Here’s how to get started with as little as $10

High inflation, shrinking Social Security support and rising taxes are driving this fear. Inflation was the top concern, cited by 54% overall and 61% of baby boomers, more than millennials (56%) or Gen X (55%).

“With Americans living longer in retirement and facing risks like market volatility, creating a financial strategy so that your money lasts your lifetime is a daunting task,” Kelly LaVigne, Allianz Life’s Vice President of Consumer Insights, said in a press release. “A strong retirement strategy will go beyond a dollar amount in the bank — it will also address how you will create a reliable income stream from your assets.”

Why anxiety is so high right now

The fear of going broke is most prominent among Gen X (70%) — the “forgotten” generation — who are in their 40s and 50s and fast approaching retirement. Millennials aren’t far behind at 66%, while fear among boomers, many of whom are already retired, sits at 61%.

An April 2025 report from Northwest Mutual found the average American believes they’ll need about $1.26 million to retire comfortably. That figure is down from $1.46 million in 2024.

But many Americans are well short of this target. For those aged 55 to 64 and on retirement’s doorstep, the median retirement account balance is $185,000, according to Federal Reserve data. For those aged 45 to 54, the figure drops to $115,000.

Several forces are at work. Inflation has shredded the real value of savings, making everything from groceries to health care more expensive. And Social Security — a major factor in American retirement — is looking increasingly shaky. The program’s trust funds could be depleted by 2035 — a time when many Gen X may be entering retirement — forcing possible benefit cuts, unless the government takes action.

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

How to build a strong future

The good news? You don’t have to be a millionaire today to retire comfortably tomorrow. But it’s wise to start taking smart, focused action, and soon.

Start saving now, no matter how small the amount: The magic of compounding interest works wonders over time. The more you’re able to save over a longer period of time, the more compounding works in your favor. Delaying by even a few years could cost you big time down the road.

Boost your retirement account contributions: Max out your employer’s 401(k) match if you have one — that’s free money. If possible, take advantage of catch-up contributions if you’re over 50.

Prepare yourself emotionally: Many retirees aren’t undone by running out of money — they simply lose a sense of purpose. Start planning now for how you’ll stay mentally active, socially connected and personally fulfilled once the 9-to-5 grind ends, and you can be mentally prepared to make the most of your golden years.

What to read next

• JPMorgan sees gold soaring to $6,000/ounce — use this 1 simple IRA trick to lock in those potential shiny gains (before it’s too late)
• This is how American car dealers use the ‘4-square method’ to make big profits off you — and how you can ensure you pay a fair price for all your vehicle costs
• Here are 5 ‘must have’ items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you?
• How much cash do you plan to keep on hand after you retire? Here are 3 of the biggest reasons you’ll need a substantial stash of savings in retirement

Like what you read? Join 200,000+ readers and get the best of Moneywise straight to your inbox every week. Subscribe for free.

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