The Money Section | Here’s where first-year homeownership costs are lowest

Also, see the most popular investments right now. [Fort Worth Star-Telegram]( August 11, 2023 • Issue #45 [The Money Section] This week, we’re looking at where first-year homeownership costs are lowest, why a study named Alaska as the worst state to retire (for the second consecutive year!), and why Americans aren’t thinking long-term. Here’s where first-year homeownership costs are lowest. [Detroit]( Detroit, Michigan Getty Images New data shows that it can take anywhere from four to almost 25 years of savings just to cover the first year of home expenses. Luckily, there are 16 markets in the 100 largest U.S. cities where you can expect to pay less than $80,000. [Here’s where they’re located.]( 📉 Redfin and Zillow feel the real estate blues. Real estate tech companies, Redfin and Zillow Group, reported lower earnings due to a slowdown in the housing market. The limited supply of homes for sale and rising mortgage rates are making it harder for people to buy homes, but the rental market is helping keep things afloat. The hope is the housing market will [improve when interest rates decrease… but we’ll see.]( 👍 Backing away from the recession edge. Bank of America Corp. economists no longer think a recession is the most likely outcome for the US economy due to its surprising resilience, low unemployment, and solid wage growth. [However, there are some that still maintain recession forecasts.]( Rolling a bigger rock up an even bigger hill. [Retire]( Money; Getty Images According to a recent survey by Charles Schwab, workers believe they'll need an average of $1.8 million to retire – an increase from last year. However, only 37% feel very confident they'll reach that goal, with inflation and market volatility impacting their confidence. [Read more.]( 🗽 Alaska vs New York? A Bankrate study ranked Alaska as the worst state to retire for the second consecutive year, considering factors such as affordability, well-being, health care quality, weather, and crime. New York and California also ranked poorly due to their high living costs and affordability challenges. [See the top 5 worst states here.]( ⏳ Americans aren’t thinking long-term. A recent survey from Charles Schwab shows that many Americans are unsure about how much to save for retirement, how to invest, when to retire, and how to estimate future expenses. [Here are the answers to some common questions.]( Most popular investments right now. [Investments]( Getty Images A new report by SoFi reveals that despite positive economic indicators and the Federal Reserve's stance, two-thirds of investors believe the U.S. is already in a recession. However, optimism towards the markets remains high, with three-quarters of investors being bullish on their current market outlook. [Their most popular investments include stocks, crypto, and others.]( 💻 Tech is officially back in the game. The tech industry saw a strong rebound in the most recent quarter, leading companies like Meta, Google, Amazon, and Microsoft to invest billions in A.I. to refresh their product lines. This shift is expected to transform customer experiences and boost productivity, but the financial benefits are still in the early stages. [Here’s what you need to know.]( 💰 ChatGP$. Artificial intelligence tools like ChatGPT have been enhancing work efficiency and are now being tested for investment advice. An experiment by NewsBTC involved using ChatGPT to invest $20,000 in stocks and crypto, resulting in a $1,946 profit after a month, with [crypto gaining 130% more profit than stocks.]( Smart Money Move Pack your bags – airlines are dropping some serious deals [Travel] [Travel]Major U.S. airlines are offering steep discounts on ticket prices, with the average round-trip fare down 11% compared to last year, plus special deals like "buy one, get one 50% off." Get in on the action with [Money’s Best Places to Travel for 2023]( and find the perfect destination for your budget – whether you're looking for family-oriented spots or affordable luxury experiences. Once you're all set, protect your trip from delays, cancellations and more with Allianz Travel Insurance. [Protect my trip from delays, cancellations and more with Allianz Travel Insurance.]( Stories we're reading this week - [How to Leverage Today's Ultra-High Interest Rates to Grow Your Savings]( - [Is Tupperware the Next Meme Stock?]( - [Tesla Replaces CFO as Kirkhorn Ends 13 Years at the EV Maker]( - [Thieves can empty your bank accounts]( - [Why Twitter’s rebrand to X feels 'shocking' to users]( - [Gen Zers are the stingiest tippers — especially at restaurants: study]( - [Dollar Scholar Asks: Where Should I Keep My Emergency Fund?]( The Money Section is written in partnership with Money Research Collective This email was sent to {EMAIL} because you are signed up to receive marketing emails or newsletters from the Fort Worth Star-Telegram. If you no longer wish to receive emails of this type, you may [unsubscribe]( or [update your email preferences](. We are unable to monitor replies to this email. Please [contact customer service]( if you have any questions or concerns. 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