- NewsThe Street•4 hours ago
Millennials Are Making This Huge Mistake When Buying a Home, Say HGTV's 'Property Brothers'
Listen up, millennials. Jonathan Scott and Drew Scott, co-stars of HGTV's "Property Brothers," have some advice for you. "Never be desperate to get into home ownership," said Jonathan Scott. "Because that's a great way to guarantee you'll fail." Many millennials are burdened with student loan and credit card debt making it tough to save for a down payment on a home. "You really need to be diligent that your credit is in line and that you're organized when you get into home ownership," he said. Drew Scott cited data from Alphabet's (GOOGL) Google, showing a 44% increase in Google searches in the first-time home buyer category since last year. "It means there are a lot of millennials looking to
- NewsMarketWatch•4 hours ago
Lowest-income families spend 40% of their money on what economists label luxuries
It turns out that all Americans, regardless of income, spend a large percentage of their income on what economists categorize as luxuries. People who make the most money spend the biggest chunk of their incomes on luxury goods, but even the poorest households spend a significant amount on luxuries, according to an analysis released recently by Deutsche Bank Research. The wealthiest families (the top fifth of earners) spend around 65% of their incomes on luxury goods and 35% on necessities, according to the study, which looked at spending habits between 1984 and 2014. Middle-income households weren’t far behind: They spend 50% on luxuries and 50% on necessities. Even the lowest-income families
- BusinessMarketWatch•yesterday
Saudi Arabia’s worst-case oil scenario might surprise you
Saudi Arabia might not be as frustrated as one would expect by the oil market’s weakness in the face of a coordinated cut by major global crude producers. The Saudis are playing a longer game, write analysts at RBC Capital Markets, in a Thursday note.
