Home Prices Surge to All-Time High

The U.S. median sales price for existing homes surged to an all-time high of $440,600 in June. The Northeast reported the biggest year-over-year gain in the nation, up 2.7 percent to $564,800. The Midwest followed with a year- over-year price gain of 2. 7 percent, bringing its median home cost to $346,600. Even in the South, prices increased 0.9 percent in June compared to a year earlier, climbing to $377,700.

Congress set to overhaul disaster recovery, speeding up new home builds

The Community Development Block Grant Disaster Recovery program has provided more than $100 billion to disaster areas over the last few decades. The program operates on an ad hoc basis, without permanent congressional approval, so most of its disaster grants take more than half a decade to execute and arrive too late to make a difference. Last month, Congress passed a major bipartisan housing bill with an endorsement from President Donald Trump. The bill's primary focus is on building more homes in areas that are suffering from housing shortages, but it also contains a provision that will turn HUD’s sporadic disaster aid into a permanent program.

Michigan Is the Next Big Test for the Democratic Party

El-Sayed is running for a U.S. Senate seat in Michigan. He has co-written a book, co-hosted a podcast and served as Wayne County's health director. He is running on a platform of ending the war on health care and ending corruption.

Taxes, pensions, health insurance: This is what the reforms mean for your account

Weekly digital edition of SPIEGEL includes e-paper (PDF), digital archive and S+ newsletter. Free access to all S+ articles on SPIEGel.de and in the app (e-paper, digital archive, and newsletter). For more information, visit the website.

Even in the heart of L.A., they still rely on old-fashioned landlines and don’t want to lose them

Peter and Nanci Ellis live in the Hollywood Hills and rely on their landline as a lifeline. AT&T wants to discontinue its traditional landline service on or after June 1 next year. The company says only 3% of households it serves in California use its copper system, which costs $1 billion a year to maintain.

Map Shows States With Highest and Lowest Number of Empty Homes

U.S. has a chronic housing shortage. About 14.5 million homes are vacant in the U.S., 4.7 million of them are used seasonally or recreationally, 2.6 million are available to rent, and fewer than 800,000 are listed for sale. Maine has the highest vacancy rate at 20.6 percent, followed by Vermont with 19.4 percent and Alaska with 17.6%. Connecticut has the lowest vacancy rate with 7 percent. Florida has a vacancy rate of 14.7 percent.

Home Prices Surge to All-Time High
Home Prices Surge to All-Time High

The U.S. median sales price for existing homes surged to an all-time high of $440,600 in June. The Northeast reported the biggest year-over-year gain in the nation, up 2.7 percent to $564,800. The Midwest followed with a year- over-year price gain of 2. 7 percent, bringing its median home cost to $346,600. Even in the South, prices increased 0.9 percent in June compared to a year earlier, climbing to $377,700.

Newsweek
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Congress set to overhaul disaster recovery, speeding up new home builds
Congress set to overhaul disaster recovery, speeding up new home builds

The Community Development Block Grant Disaster Recovery program has provided more than $100 billion to disaster areas over the last few decades. The program operates on an ad hoc basis, without permanent congressional approval, so most of its disaster grants take more than half a decade to execute and arrive too late to make a difference. Last month, Congress passed a major bipartisan housing bill with an endorsement from President Donald Trump. The bill's primary focus is on building more homes in areas that are suffering from housing shortages, but it also contains a provision that will turn HUD’s sporadic disaster aid into a permanent program.

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Michigan Is the Next Big Test for the Democratic Party
Michigan Is the Next Big Test for the Democratic Party

El-Sayed is running for a U.S. Senate seat in Michigan. He has co-written a book, co-hosted a podcast and served as Wayne County's health director. He is running on a platform of ending the war on health care and ending corruption.

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news
Taxes, pensions, health insurance: This is what the reforms mean for your account
Taxes, pensions, health insurance: This is what the reforms mean for your account

Weekly digital edition of SPIEGEL includes e-paper (PDF), digital archive and S+ newsletter. Free access to all S+ articles on SPIEGel.de and in the app (e-paper, digital archive, and newsletter). For more information, visit the website.

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Even in the heart of L.A., they still rely on old-fashioned landlines and don’t want to lose them
Even in the heart of L.A., they still rely on old-fashioned landlines and don’t want to lose them

Peter and Nanci Ellis live in the Hollywood Hills and rely on their landline as a lifeline. AT&T wants to discontinue its traditional landline service on or after June 1 next year. The company says only 3% of households it serves in California use its copper system, which costs $1 billion a year to maintain.

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Map Shows States With Highest and Lowest Number of Empty Homes
Map Shows States With Highest and Lowest Number of Empty Homes

U.S. has a chronic housing shortage. About 14.5 million homes are vacant in the U.S., 4.7 million of them are used seasonally or recreationally, 2.6 million are available to rent, and fewer than 800,000 are listed for sale. Maine has the highest vacancy rate at 20.6 percent, followed by Vermont with 19.4 percent and Alaska with 17.6%. Connecticut has the lowest vacancy rate with 7 percent. Florida has a vacancy rate of 14.7 percent.

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