Climate scientists warn Earth systems heading for ‘dangerous instability’

ABC News

Climate scientists warn Earth systems heading for ‘dangerous instability’

Daniel Manzo – October 24, 2023

Climate scientists warn Earth systems heading for ‘dangerous instability’

Forecasts about the negative effects of human-caused climate change are not uncommon, but new research published Tuesday makes even more dire claims, declaring that “life on planet Earth is under siege” and that “we are pushing our planetary systems into dangerous instability.”

The study, titled “The 2023 State of the Climate Report: Entering Uncharted Territory” and published in the journal Bioscience, points to specific climate events in 2023 to support its findings, including exceptional heat waves across the globe, historic and record-breaking warm ocean temperatures, and unprecedented low levels of sea ice surrounding Antarctica.

The 12 international scientists who created the report indicated that in so far in 2023, there have been 38 days with global average temperatures more than 1.5 degrees Celsius above pre-industrial levels. The U.S. National Oceanic and Atmospheric Administration and Europe’s Copernicus Climate Change Service earlier this month indicated that 2023 will likely go on record as the hottest year ever recorded.

MORE: July set to be Earth’s hottest recorded month

What’s more, the highest average Earth surface temperature ever recorded was in July, according to the report, which also notes that may be the highest surface temperate the Earth has experienced in the last 100,000 years.

The research team, which included scientists from the United States, Australia, Germany, Brazil, the United Kingdom, China, and the Netherlands, says that anthropogenic global heating – meaning global heating caused or amplified by humans – is the key driver in recent extreme climate events. The team also took into account that some of these events are complex and are at least partially driven by non-human factors, including water vapor effects from an underwater volcano, as well as dust from Africa, and the El Niño global climate pattern.

PHOTO: In this July 13, 2023, file photo, a man wipes his face as he walks under misters in downtown Phoenix. (Matt York/AP, FILE)
PHOTO: In this July 13, 2023, file photo, a man wipes his face as he walks under misters in downtown Phoenix. (Matt York/AP, FILE)

The researchers also point to “minimal progress” by humanity to stop the impacts of anthropogenic climate change. “Although the consumption of renewable energy (solar and wind) grew a robust 17% between 2021 and 2022, it remains roughly 15 times lower than fossil fuel energy consumption,” the report states.

“Without actions that address the root problem of humanity taking more from the Earth than it can safely give, we’re on our way to the potential partial collapse of natural and socioeconomic systems and a world with unbearable heat and shortages of food and fresh water,” declares report co-lead author William Ripple, from the Oregon State University College of Forestry.

MORE: The Power of Water

“Life on our planet is clearly under siege,” said Ripple.

The authors says action must be taken now to avert further extreme climate impacts: “[T]o mitigate these past emissions and stop global warming, efforts must be directed toward eliminating emissions from fossil fuels and land-use change and increasing carbon sequestration with nature-based climate solutions.”

Time Is Up’: Scientists Warn Earth Has Entered ‘Uncharted Climate Territory’

HuffPost

‘Time Is Up’: Scientists Warn Earth Has Entered ‘Uncharted Climate Territory’

Chris D’Angelo – October 24, 2023

If Earth were a human, it would already be in the emergency room.

An international team of scientists on Tuesday issued a new assessment of planetary health that says the world has entered “uncharted climate territory” and that “life on planet Earth is under siege.”

The report, published in the journal BioScience, found that 20 of 35 identified “vital signs” of the planet — from human population and greenhouse gas emissions to sea level rise and ocean acidity — have reached record extremes. 

The analysis, authored by a dozen expert scientists, is as much a desperate warning as an urgent call for action.

“For several decades, scientists have consistently warned of a future marked by extreme climatic conditions because of escalating global temperatures caused by ongoing human activities that release harmful greenhouse gasses into the atmosphere,” the report states. “Unfortunately, time is up. We are seeing the manifestation of those predictions as an alarming and unprecedented succession of climate records are broken, causing profoundly distressing scenes of suffering to unfold. We are entering an unfamiliar domain regarding our climate crisis, a situation no one has ever witnessed firsthand in the history of humanity.”

This year has truly been one of extremes — unprecedented heat waves, record-shattering land and sea surface temperatures, record-low Antarctic sea ice extent, and a Canadian wildfire season that has so far torched over 45 million acres, more than 2.5 times the previous record.

A forest fire rages in British Columbia, Canada, in July.
A forest fire rages in British Columbia, Canada, in July.

A forest fire rages in British Columbia, Canada, in July.

Tuesday’s stunning, unfiltered assessment comes as many scientists are still trying to make sense of the climate anomalies documented in recent months. 

“The truth is that we are shocked by the ferocity of the extreme weather events in 2023,” the report reads. “We are afraid of the uncharted territory that we have now entered.”

The changes have been so rapid that they’ve “surprised scientists and caused concern about the dangers of extreme weather, risky climate feedback loops, and the approach of damaging tipping points sooner than expected,” the report states. And they occurred against a backdrop of what the authors described as “minimal progress by humanity in combating climate change.”

Human activity, primarily the world’s addiction to fossil fuels, is the main driver of planetary warming and the extreme weather events causing devastation around the globe. Despite a steady drumbeat of warnings from the world’s scientific community, global carbon emissions are forecast to hit an all-time high in 2023. In just a single year, from 2021 to 2022, global fossil fuel subsidies more than doubled, from $531 billion to $1.01 trillion, which the report’s authors linked to rising energy costs stemming from Russia’s invasion of Ukraine.

A gas flare from a Shell Chemical LP petroleum refinery illuminates the sky in Norco, Louisiana.
A gas flare from a Shell Chemical LP petroleum refinery illuminates the sky in Norco, Louisiana.

A gas flare from a Shell Chemical LP petroleum refinery illuminates the sky in Norco, Louisiana.

The paper warns that “massive suffering due to climate change is already here” and highlights several deadly, climate-fueled disasters over the past year, including extreme heat waves in Asia, catastrophic wildfires on the Hawaiian island of Maui, and devastating flooding in Libya. By the end of the century, between 3 billion and 6 billion people — as much as half of the planet’s population — could “find themselves confined beyond the livable region,” according to the analysis.

“Without actions that address the root problem of humanity taking more from the Earth than it can safely give, we’re on our way to the potential collapse of natural and socioeconomic systems and a world with unbearable heat and shortages of food and freshwater,” Christopher Wolf, a lead author of the paper, said in a statement.

The report advocates for much more than minimizing planet-warming greenhouse gasses, calling specifically for reducing overconsumption of the world’s resources, phasing out fossil fuel subsidies, increasing forest protection, shifting toward plant-based diets and transforming the global economy to “prioritize human well-being and to provide for a more equitable distribution of resources.” Additionally, it urges humanity to “stabilize and gradually decrease the human population with gender justice through voluntary family planning and by supporting women’s and girls’ education and rights, which reduces fertility rates and raises the standard of living.”

The recommendations go beyond the normal scope of climate science, but underscore how serious the researchers believe the crisis to be.

“Rather than focusing only on carbon reduction and climate change, addressing the underlying issue of ecological overshoot will give us our best shot at surviving these challenges in the long run,” the authors conclude. “This is our moment to make a profound difference for all life on Earth, and we must embrace it with unwavering courage and determination to create a legacy of change that will stand the test of time.”

Negligent builders and developers might be responsible for hidden peril underneath Florida: ‘Some shady folks still used them’

The Cool Down

Negligent builders and developers might be responsible for hidden peril underneath Florida: ‘Some shady folks still used them’

Rick Kazmer – October 23, 2023

Recently released government data about the Sunshine State could provide a new moniker for Florida — the Lead Pipe State.

That’s because the Environmental Protection Agency (EPA) has found that Florida has more lead pipes in its water systems  — 1.16 million of them — than any other state, according to the Tampa Bay Times.

Florida highlights a national problem, as some 9.2 million lead pipes carry drinking water to households around the country, the Times reports. It’s a concern that has lingered for decades with severe health implications.

As a result, the government plans to pump billions of dollars into lead-pipe-heavy states to tackle the problem.

“Every community deserves access to safe, clean drinking water,” EPA administrator Michael Regan told the Tampa Bay Times.

Why are lead pipes dangerous? 

Drinking water contaminated with lead can cause heart problems, lower IQ rates among children, and anemia, among a list of other serious health problems, according to the EPA.

Lead was spotlighted in 2014 during the Flint, Michigan, water crisis. Lead leached into the water supply, causing severe health problems for the community.

Why are lead pipes still a concern? 

Craig Pittman has been following the lead pipe story for Florida Phoenix, a nonprofit news site. In a recent column, he said that the building and development industry is partially to blame for lingering lead concerns.

Despite increased regulations during the decades, he wrote, lead solder, flux, and pipes were still being used. The government ramped up regulations on lead pipes in 1986.

“Even after lead pipes were banned … some shady folks still used them, figuring they wouldn’t get caught because the evidence was literally buried out of sight. Meanwhile, a lot of lead pipes were already in use all around the country,” Pittman wrote.

He talked to civil engineer Alison Adams, who works for the utility company Tampa Bay Water. Adams said the lead is often found after the public utility hookup, because it’s in the materials the builders used.

“Lead pipes were used in the building industry, not in public water supply,” she said. “A utility’s responsibility ends at the meter to a home. Lead pipes were used between the meter and in homes or businesses, including schools, as a matter of construction.”

What’s being done about lead in the water? 

The EPA highlighted the lead problem as part of a survey of 3,500 water systems around the country. The Times reported that about $625 billion is needed to upgrade the systems.

President Joe Biden has promised $15 billion to clear out all of the nation’s lead pipes, according to the Times.

It’s a lofty goal that will target states with the most lead. After Florida, Illinois, Ohio, Pennsylvania, and New York have the most lead pipes, the Times reports.

How can I test for lead at home? 

The EPA has a guide that outlines how to test your service line for lead. It includes details on the different faucets and fixtures that commonly contain the heavy metal.

Join our free newsletter for cool news and actionable info that makes it easy to help yourself while helping the planet.

“Built his empire on lies”: Trump Org appraiser calls out “inaccurate” statements as Trump watches

Salon

“Built his empire on lies”: Trump Org appraiser calls out “inaccurate” statements as Trump watches

Gabriella Ferrigine – October 18, 2023

Donald Trump Andrew Kelly-Pool/Getty Images
Donald Trump Andrew Kelly-Pool/Getty Images

Former president Donald Trump ventured back to Manhattan on Tuesday as part of his civil fraud case, which came about after New York Attorney General Letitia James argued that Trump, along with his sons Donald Jr. and Eric and the Trump Organization, had inflated the value of more than a dozen assets by hundreds of millions, subsequently using those phony values to defraud banks and insurers in order to secure more advantageous deals and secure loans.

As he entered the court, Trump chastised the case as “a witch hunt by a radical lunatic attorney general.”

“We built a great company — a lot of cash, it’s got a lot of great assets, some of the greatest real estate assets, anywhere in the world,” the ex-president added.

A key part of Tuesday’s trial proceedings came in the form of testimony from a real estate appraiser for the Trump Organization, who harshly criticized the company’s “inaccurate and inappropriate” behavior in attributing the faulty numbers to him.

The New York Daily News reported that former Trump organization executive Jeff McConney, in statements shown in court accounting for Trump’s value between 2013 and 2018, said that the appraiser — Cushman & Wakefield executive director Doug Larson — had advised him via phone in the specifics of assigning swollen values to assets such as Trump’s Wall Street tower.

Larson vehemently denied that the call took place, however, also rejecting McConney’s claim that he had worked “in conjunction” with the former president of any affiliates of the Trump Organization to appraise assets. “It’s inappropriate and inaccurate,” Larson said. “I should have been told, and an appraisal should have been ordered.”

At one point, Mark Ladov, a lawyer for the attorney general’s office, cited an instance in which the Trump Organization ignored the numbers Larson crunched, adding a whopping 35 percent to 40 Wall Street in 2016, which Larson had valued at $540 million. In that year’s financial statement, the skyscraper was listed by Trump’s company at $735.4 million. And in 2013, the Trump Organization tacked on a 3.12% capitalization raise to 1290 Avenue of the Americas, attributing the rise to Larson’s input and increasing the building’s value to just shy of $1 billion.

Following Tuesday’s events, Attorney General James said that while the former president could “rant and rave” all he wanted, it would not alter the fact that he “built his empire on lies.”

“Mr. Trump may lie, but numbers don’t lie,” she said. “Mr. Trump’s entire empire is built on nothing but lies. Sinking sand.”

James has asserted that Trump routinely overstated his net worth to financial institutions by between $812 million to $2.2 billion, depending on the year and the specific applications he filed. She is seeking a penalty of about $250 million. Late last month, New York Supreme Court Judge Arthur Engoron, in a summary judgment, ruled that Trump had committed fraud in the state for years by misrepresenting his financial status while steadily expanding his real estate.

Engoron’s decision effectively barred Trump and his adult sons from conducting business in New York ever again. The judge also ordered punitive measures, including that some of Trump’s business licenses be rescinded — meaning he will lose control of key real estate if upheld following appeal — and ordered that an outside “receiver” must be appointed to supervise the management of those Trump properties.

“The next borrower, or the one after that, might default, and if its (financial statements) are false, the lender might unfairly be left holding the bag,” Engoron wrote. “This will distort the lending marketplace and deprive other potential borrowers of the opportunity to obtain loans and create wealth.”

Trump at the hearing also took shots at his former personal attorney and fixer Michael Cohen, saying he “didn’t have the guts” to show face. Cohen has acted as a key witness in 2019, providing pivotal testimony that catalyzed James’s investigation.

“If I was afraid of Donald, I wouldn’t have written 2 NYT bestsellers, testified before the Mueller team, seven congressional committees, 23 appearances before the Manhattan DA, and provided information to the NYAG that is the basis of this trial,” Cohen told the Daily News.

“Looking forward to seeing you in court very soon!” he quipped to his old client.

Large portion of Americans doubt democracy and view violence as acceptable, poll finds

Miami Herald

Large portion of Americans doubt democracy and view violence as acceptable, poll finds

Brendan Rascius – October 18, 2023

J. David Ake/AP

A large portion of Americans on both sides of the aisle favor getting rid of democracy and imposing violence on their political opponents, among other authoritarian measures, according to a new poll.

Thirty-one percent of Donald Trump supporters and 24% of President Joe Biden supporters said democracy is “no longer viable” and an alternative system should be tried, according to an October poll from the University of Virginia’s Center for Politics.

The poll surveyed 2,008 registered voters from Aug. 25 to Sept. 11 and has a margin of error of plus or minus 2.2 percentage points.

Other key findings:

  • When asked whether it is acceptable to employ violence to stop political opponents from attaining their goals, 41% of Biden supporters and 38% of Trump supporters said yes.
  • 30% of Trump supporters and 25% of Biden supporters said elections should be suspended in times of crisis.
  • 41% of Trump supporters and 30% of Biden supporters said they favor either conservative or liberal states seceding from the union.
  • Nearly half of Biden supporters, 47%, and 35% of Trump supporters said the government should restrict the expression of views “considered discriminatory or offensive.”

The polling comes as Trump, the leading contender for the GOP nomination, continues to claim without evidence that the 2020 election was rigged against him.

The results, which signal a desire for an authoritarian crackdown, come at a time when public trust in government is at a near-record low, according to the Pew Research Center. In a 2023 poll, only 16% of Americans said they trusted the government to do what is right at least most of the time.

The poll reveals “really troubling findings about democracy and the potential for violence,” Rick Hasen, the director of UCLA’s Safeguarding Democracy Project, said on X.

Premiums for family health insurance at work jump to nearly $24,000 this year

CNN

Premiums for family health insurance at work jump to nearly $24,000 this year

Tami Luhby, CNN – October 18, 2023

Natalia Gdovskaia/Moment RF/Getty Images

Workers and their employers are paying a lot more for job-based health insurance this year.

The annual cost of family health insurance coverage at work soared to an average of nearly $24,000 this year, according to KFF’s Employer Health Benefits Survey, released Wednesday. That’s up 7% from last year.

Employees are shelling out an average of $6,575 for their share of the premium, up almost $500, or close to 8%, from last year, the annual survey found. Their companies are footing the rest of the bill.

“We have a huge premium increase this year. There’s just no other way to cut it,” said Matthew Rae, who co-authored the survey. “There are lots of affordability challenges for employer coverage.”

For single coverage, the average annual premium rose to $8,435, also up 7% from last year. Workers are picking up just over $1,400 of the tab, about $75 more than last year.

Though large, the jump in premiums is roughly in line with the rise in wages and inflation since 2022, as well as over the past five years, according to KFF. This is different from in the early 2000s, when premiums were soaring by double digits, but inflation and wage growth were relatively muted.

The tight job market has prompted companies to avoid watering down their health insurance coverage since it can be a recruiting and retention tool.

Deductibles remained essentially flat this year, which may reflect employers’ concerns about how much workers have to shell out when they need medical care, KFF said. The average annual deductible is roughly $1,735 among workers who have a deductible for single coverage.

“Employers want to keep offering good benefits to keep good people,” said Rae.

Still, workers should prepare for premiums to take a bigger bite out of their paychecks in coming years. Nearly a quarter of companies said they will increase employees’ premium contributions in the next two years, KFF found.

Higher costs at smaller firms

Workers at smaller firms typically pay much more for coverage than their peers at companies with at least 200 workers.

KDC Mailing & Bindery had to contend with an overall premium increase of about 13% for this year, said Steve Van Loon, director of operations at the Tempe, Arizona, firm, which has 42 workers.

The company, which only started offering health benefits in 2019 to be more competitive, raised workers’ premiums by 3% but had to hike its prices by as much as 5% to help it afford the increased cost. KDC covered the rest.

Next year, the company likely won’t be able to be as generous to its staff, Van Loon said.

“Our profit margins do not allow us to absorb these costs,” he said. “We would be out of business.”

Limits on abortion coverage

Large employers with workers in more than one state may face challenges in offering abortion coverage after the Supreme Court’s 2022 decision that ended the federal constitutional right to an abortion. Multiple states have adopted laws that prohibit or restrict abortion access.

One in 10 large firms with at least 200 employees said their largest plan does not cover legal abortions, KFF found. Another 18% said they only cover abortion under limited circumstances, such as rape, incest or health or life endangerment.

Nearly a third of large firms said they cover abortion in most or all circumstances, while 40% said they were unsure of their coverage policy, possibly because it was in flux or they were unaware of the details.

After the Supreme Court ruling, several companies said they would offer financial assistance to employees who had to travel to others states for abortions. Some 7% of large employers -— and 19% of companies with at least 5,000 workers — provide or plan to provide such reimbursement.

KFF did not ask these questions on abortion in prior surveys.

‘The View’: Rachel Maddow Says Jim Jordan Winning Speaker Would Be Like Trump Putting ‘Rudy Giuliani on the Supreme Court’

The Wrap

‘The View’: Rachel Maddow Says Jim Jordan Winning Speaker Would Be Like Trump Putting ‘Rudy Giuliani on the Supreme Court’

Andi Ortiz – October 18, 2023

Rep. Jim Jordan remains in the running to become the next Speaker of the House, but he is struggling to come up with the necessary votes to win the job. But Rachel Maddow isn’t looking forward to that possibility, comparing it on Wednesday to Rudy Giuliani getting a spot on the Supreme Court.

Stopping by “The View” on Wednesday, the MSNBC host admitted she was glad that Jordan lost the first vote, and worried what his speakership might actually look like.

“I think that had Mr. Jordan been chosen, it would have been a big deal for the country,” Maddow said. “It would be like if Trump was president and put Rudy Giuliani on the Supreme Court, you know what I mean?”

That comparison earned a full belly laugh from Whoopi, as Sunny Hostin and her co-hosts conceded it was “a very good example.”

“I mean, there was nobody who was more important in Congress to Trump’s effort to overthrow the lawfully elected government of the United States than Jim Jordan,” Maddow added.

“So then, to make him second in line to the presidency? And in charge of congress certifying the election results in 2024? I mean, he’s still in the running, maybe it’ll still be him. That’ll be a big deal if it happens, in all the wrong ways.”

All that said, Maddow was pretty confident that, no matter who ends up with the gavel, they aren’t going to enjoy their time with it.

“Even if you could fast forward to the end of this process, whenever it ends, with whoever wins, what does that person win? The worst job in America!” she said. “And they get to hold it for five minutes, and then get fired, and then we start again. I mean, there’s nothing to look forward to for anybody here. It is a sad thing.”

The cost of all these things is prohibitive’: Florida may no longer be the prized retirement haven it once was

Moneywise

‘The cost of all these things is prohibitive’: Florida may no longer be the prized retirement haven it once was — here are 3 major reasons why you shouldn’t bask in the Sunshine State

Serah Louis – October 17, 2023

'The cost of all these things is prohibitive': Florida may no longer be the prized retirement haven it once was — here are 3 major reasons why you shouldn't bask in the Sunshine State
‘The cost of all these things is prohibitive’: Florida may no longer be the prized retirement haven it once was — here are 3 major reasons why you shouldn’t bask in the Sunshine State

Folks entering retirement and searching for the ideal place to settle down and relax in their golden years often look toward Florida. The state doesn’t tax income and boasts sunny weather along with gorgeous white beaches. It also offers plenty of amenities like golf, fishing and even bird-watching.

But surprise, surprise, Florida isn’t the top place to retire, ranking eighth in a Bankrate study published in August.

Despite ranking highly for its agreeable climate, the state fell behind when it came to affordability, crime and health care — all crucial factors as you plan where to live as you age.

Here are three big costs that might make you second guess picking the Sunshine State to settle for retirement.

Housing

Some retirees, especially those living on limited incomes, are being priced out of Florida, which has seen a surge in housing demand within the last few years.

It’s even surpassed New York as the second-most-valuable real estate market in the country, according to Zillow.

In the meanwhile, other states like Iowa — which secured the top spot in the Bankrate study — come with much cheaper home prices. The average home in Iowa is valued at around $212,000, while in Florida it’s around $393,000, according to Zillow.

Residents of the Sunshine State have been tackling rising property taxes as well, especially in coveted retirement communities, since they’re measured based on real estate value.

Dominic Calabro, president and CEO of tax research institute Florida TaxWatch, recently told WFSU News this system is becoming unsustainable.

“At some point, we’re going to make Florida a place where you’re like, ‘Oh, it’s wonderful, but, the cost of food, the cost of housing, the cost of all these things is prohibitive and difficult for people of average means, let alone low-income means,” he said.

Insurance

Florida might be renowned for its warm weather — but it’s also prone to its fair share of hurricanes, tropical storms, flooding and other disasters, which can cause property damage and consequently insurance premiums to skyrocket.

“The average home premium in Florida is about $6,000,” Mark Friedlander, spokesperson for the Insurance Information Institute, told WPLG Local 10 in June. “That is nearly four times the U.S. average of $1,700.”

Half a dozen home insurers went insolvent in the state in 2022, while Farmers Insurance made headlines this summer for pulling out as well, affecting 100,000 policyholders. Insurers have blamed their woes on extreme weather, as well as legal system abuse and fraudulent claims.

Health care

For many Americans, access to affordable, quality health care is extremely important as you age — but it can often depend on where you live.

Florida workers pay some of the highest health-care costs in the country, according to a study from the Commonwealth Fund that tracked data from 2010 to 2020.

The average total cost of premiums and potential spending on deductibles across single and family insurance policies hit a high of $9,284 in the Sunshine State, or over 16% of the median household income, in 2020.

Along with 10 other states, Florida officials have also rejected expanding Medicaid under the Affordable Care Act, which offers states extra matching funds if they open up the program to those with low incomes.

Millions Of Homes Sit Vacant Amid America’s Housing Crisis — Here Are The 3 Biggest Reasons

Benzinga

Millions Of Homes Sit Vacant Amid America’s Housing Crisis — Here Are The 3 Biggest Reasons

Jing Pan – October 17, 2023

America has a housing shortage. According to Realtor.com, the gap between single-family home construction and household formation grew to 6.5 million homes from 2012 to 2022.

And despite the Federal Reserve’s substantial interest rate hikes aimed at curbing inflation, housing affordability continues to elude many areas across the country, with rent prices surging in tandem.

Yet according to a new analysis by LendingTree, millions of homes stay vacant in America.

Using the latest U.S. Census Bureau American Community Survey data, LendingTree found that there are 5.5 million vacant housing units in the 50 largest metros in the U.S. This results in an average vacancy rate of 7.22%.

“In a simplified version of the housing market, vacancy rates should have a strong inverse relationship to home and rent prices,” wrote Jacob Channel, senior economist at LendingTree.

But reality can be different from theory, as home prices remain high in many parts of the country. Channel explained that there are “more nuanced factors” in play, such as location, mortgage rates, unit size and reasons homes are unoccupied.

The study revealed that New Orleans, Miami and Tampa, Florida, have the highest vacancy rates in the country, standing at 13.88%, 12.65% and 12.15%, respectively. In contrast, the lowest vacancy rates are found in Minneapolis; Austin, Texas; and Washington, D.C., with rates of 4.51%, 4.57%, and 4.98%, respectively.

Minneapolis, Austin and D.C. are the only three cities with vacancy rates below 5%.

Why Homes Are Vacant

Given the housing shortage in the U.S., you might wonder why these units remain unoccupied.

LendingTree’s analysis showed that the most prevalent reason (26.61%) for vacant housing units in the nation’s 50 largest metropolitan areas is that they are available for rent.

Meanwhile, 17.04% of housing units remain vacant because they are used only part-time.

Additionally, 7.98% of homes are unoccupied because of ongoing repair or renovation work.

LendingTree also pointed out that in cases where an area exhibits both high vacancy rates and high home prices, it may indicate the presence of distinctive features, such as being a sought-after vacation destination or a prime target for investors.

Housing Affordability In America

With rising interest rates, homebuyers find themselves contending with larger mortgage payments.

According to The State of the Nation’s Housing 2023 report from Harvard University’s Joint Center for Housing Studies, the annual income needed to afford payments on a median-priced home in the U.S. is now $117,100, up nearly $20,000 from last year.

And that means millions of households are now priced out of the market.

“The number of renter households able to afford these higher payments shrunk by 32%, from 7.5 million to 5.1 million, a loss of 2.4 million potential homebuyers,” the Harvard researchers said.

To navigate an expensive housing market, LendingTree suggests shopping around for the best possible rate, considering different loan options and getting preapproved for your mortgage before you start house hunting.

Walmart and Sam’s Club introduce ‘game-changing’ new feature at hundreds of stores across the country: ‘It’s a big win.’

The Cool Down – Business

Walmart and Sam’s Club introduce ‘game-changing’ new feature at hundreds of stores across the country: ‘It’s a big win.’

The goal is to have them implemented at every location by 2030.

By Jane Donohue – October 16, 2023

Walmart is adding EV chargers

Photo Credit: iStock

As electric vehicles (EVs) become increasingly popular, Walmart has announced plans to build EV charging stations at thousands of Walmart and Sam’s Club locations across the country by 2030. 

“With a store or club located within 10 miles of approximately 90% of Americans, we are uniquely positioned to deliver a convenient charging option that will help make EV ownership possible whether people live in rural, suburban, or urban areas,” wrote Walmart’s Senior Vice President of Energy Transformation Vishal Kapadia in a release.

By installing charging stations across the country, Walmart makes owning an EV easier for drivers who worry they won’t be able to find a place to charge their vehicle. 

“Easy access to on-the-go charging is a game-changer for drivers who have been hesitant to purchase an EV for concerns they won’t be able to find a charger in a clean, bright, and safe location when needed,” Kapadia wrote.

Already, 280 Walmart and Sam’s Club locations in the U.S. offer nearly 1,300 fast-charging stations for electric vehicles

The average non-electric car releases over five tons of harmful air-polluting carbon each year. EVs, on the other hand, produce no tailpipe pollution. Even plug-in hybrid electric vehicles (PHEVs) and hybrid electric vehicles (HEVs) produce far less tailpipe pollution than gasoline vehicles. 

Not only are EVs better for the environment, but they’re also better for your wallet. EV owners spend about 60% less money each year on fuel than owners of comparable gasoline vehicles. Even maintenance and repairs are less pricey for EVs. Maintenance and repair costs for gasoline-powered vehicles are generally double what they are for EVs.

“We see our commitment today as a natural extension of our work to help customers and members live better, easier, and more sustainable lives,” Kapadia wrote. “[It’s] a big win for busy families and drivers everywhere, our country, and the planet.”