People who need to move now are pinched by rising mortgage rates, sky-high home prices and rising rents
(NASDAQ:RDFN) —The estimated monthly mortgage payment for a typical home for sale rose 25% year over year—or $388—to a record $1,931, according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. That’s based on the all-time high median asking price of $376,000 recorded during the four weeks ending February 6, and an average 30-year mortgage rate of 3.69%.
Pending sales were down slightly from the same period in 2021, but 34% higher than they were two years earlier, weeks before the pandemic began. Meanwhile, the number of homes for sale was down 29% from a year earlier and down 50% from 2020. This constricted supply is depressing home sales, as mortgage purchase applications fell 10% during the week ending February 4.
As a result, the market’s pace is accelerating. Over half (55%) of homes that found a buyer spent two weeks or less on the market—the highest rate on record for this time of year.
“Movers are feeling a big pinch. There is nowhere for them to run from increasing housing costs now that mortgage rates are rising and inflation has spread to the rental market,” said Redfin Chief Economist Daryl Fairweather. “Homebuyers feel uneasy making offers on homes with such high asking prices, but there is no better alternative. Would-be homebuyers who bowed out last year are kicking themselves, but delaying purchasing a home another year could be a costly mistake. My advice to buyers who are worried they will have to overbid in order to win a home is to make sure they can see themselves living in the home for at least five years. I expect home values to rise over that time horizon even if there are short-term fluctuations in the housing …
Lupus Foundation of America Rallies Communities to Make Lupus Visible for Lupus Awareness Month
WASHINGTON, April 29, 2022 /PRNewswire/ — The Lupus Foundation of America is leading the effort to Make Lupus Visible throughout the month of May for Lupus Awareness Month as it rallies communities across the country to raise awareness of lupus and funds to support lupus research, education programs and support services.
Lupus is an unpredictable and misunderstood autoimmune disease that ravages different parts of the body, causing the immune system to attack healthy tissue instead of fighting infections. It is difficult to diagnose, hard to live with and a challenge to treat. Many of the debilitating symptoms and impacts of lupus can’t be seen – from extreme fatigue and excruciating joint pain to impacts on the organs like the kidneys, …
Original Post: benzinga.com
USPS Sued by States and Environmental Groups Over Purchase of 8.6 Mpg Trucks
The US Postal Service is facing lawsuits from 16 states and several environmental groups challenging its decision to buy tens of thousands of gasoline-powered delivery vehicles instead of electric vehicles.
As previously reported, the Environmental Protection Agency says the gas-powered trucks being ordered by the USPS “are expected to achieve only 8.6 miles per gallon (mpg), barely improving over the decades-old long-life vehicles that achieve 8.2 mpg.” The USPS countered that the vehicles get 14.7 mpg when air conditioning isn’t being used and that the trucks’ size will make it possible to deliver the same amount of mail in fewer trips.
The USPS plan is to buy 50,000 to 165,000 vehicles over 10 years. Of those, at least 10 percent are slated to be battery-electric vehicles (BEV). Amid controversy, the USPS last month said its initial order of 50,000 trucks for $2.98 billion would include over 10,000 BEVs for “specific delivery routes that present the best initial application for electric vehicles.”
Source Here: arstechnica.com
Enough Money Raised to Bring Chuck Wepner Statue to Bayonne
A Bronze statue of Chuck Wepner, the famous “Bayonne Bleeder” will soon be on its way to Bayonne.
A close friend and perhaps the biggest fan of Wepner, Bruce Dillin of Dillin Tire Company in Bayonne, has secured enough funds to bring the statue to the city following a third and final fundraiser. Dillin runs a small museum dedicated to the boxer out of the lobby of his auto repair shop.
Wepner famously boxed 15 rounds against Muhammad Ali during their heavyweight title fight in 1975 before Ali bested him with a technical knockout. Wepner’s career and fight with Ali is said to have inspired the movie series “Rocky.”
The scene from the film where Rocky runs up and down the stairs in front of the Philadelphia Museum of Art in preparation for the big fight is said to be inspired by Wepner. He apparently ran up and down the stairs in Stephen Gregg Park in preparation for his fight with Ali. As such, Dillin has been seeking to erect a statue of the boxing legend at the top of the stairs in Bayonne’s county park since 2015.
By 2017, Dillin had found a sculptor, and he didn’t have to look far. Next door neighbor Zhen Wu agreed to sculpt the mold for the bronze statue for free as long as Dillin provided what he needed. However, Dillin still needed the funds to have the statue cast in bronze using that mold. So he set out to raise the money himself.
Dillin has held a number of fundraisers, including a premiere of the movie “Chuck” starring Liev Schreiber and the Roast of Chuck Wepner. The proceeds of both fundraisers went toward the cost of the statue, which has since sat in a state of near-completion at a bronze foundry in Philadelphia.
Fundraiser bash at a brewery
The third and final fundraising event was held at the 902 Brewing Co. at 101 Pacific Avenue in Jersey City on April 19. While Dillin previously eyed an event in Bayonne in October of 2021, COVID-19 and other factors delayed things until now.
Many came out to support the effort to secure the Wepner statue, including Bayonne Mayor James Davis. Davis touted Wepner as being Bayonne, “through and through.”
“Chuck can live wherever he wants, do whatever he wants, and he chooses Bayonne, the greatest city in the world,” Davis said.
Wepner himself, at the young age of 83, was also there. He thanked the crowd, noting many familiar faces had been there along the way.
“I’m so proud to be from the city of Bayonne,” Wepner said.
Wepner also noted he lived in Jersey City at one point, making the event’s location more fitting.
“I’m also from Jersey City,” Wepner said. “I lived in Jersey City for a while too when I was in the Marine Corps.”
Dillin, the man who made it possible, also addressed the crowd.
“Fifteen years ago, I was being honored at a dinner and I made a joke that they were making a statue of Chuck Wepner,” Dillin said. “Everybody laughed at the joke then asked me when we were doing the statue and I said ‘Well, it was a joke, but sure, why don’t we have a statue?’”
Thanks to the event, Dillin was able to raise the last amount of the money needed.
A long time coming
After the event, in an interview with the Bayonne Community News, Dillin explained what will happen next with the statue.
“It’s from the love and respect of the people that supported this,” Dillin said. “Some of them were at every event. And some gave more than they had to give to come to an event.”
According to Dillin, many organizations donated their time and effort, such as the lighting for the event done by F&S Lighting or the DJ.
“Everbody did this for Chuck,” Dillin said. “It was unbelievable.”
According to Dillin, 902 Brewery Co. was quickly on board once Dillin brought Wepner to the brewery.
“I walked in there one day, walked up to the owner and said I want to have a party and wanted this and that,” Dillin said. “He asked me to bring Chuck Wepner there. The next day I brought him and then he agreed to do it.”
The brewing company even did a beer release in Wepner’s honor that night, with a new beer dubbed “The Real Rocky,” another nickname for Wepner. Dillin said the can featured an image of Wepner he also had commissioned, which shows Wepner in the moment when had knocked Ali down in their legendary bout.
“If you ask anybody that went to any of my events, they were overwhelming successes with entertainment you can’t match,” Dillin said. “Needless to say, I’m going to get that statue.”
Approximately $16,000 of the total $80,000 for the statue was raised. Dillin now has the funds necessary to have the job finished and bring the statue home. Wu recently went to the foundry to inspect the statue as the finishing touches are put on it.
“He critiqued them on a few things he wants changed,” Dillin said. “Then it will be ready for something called the patina. It’s the preparation of the surface to last outside.”
Installing it in the park?
Following that, the statue will finally be on its way to Bayonne. And Dillin said that the funds raised will likely cover the cost of the base of the statue and any surrounding landscaping at the park.
When it comes to putting it in Stephen Gregg Park, which is a county park, Dillin said he has not had any conversations with any county officials yet. After all his efforts, he said he’d rather wait for the county to come to him and ask.
“After all of this time I’ve been doing this for years, not one of them ever said anything to me,” Dillin said. “But that’s alright, we’re bringing this statue home.“
Ideally, Dillin wants to unveil the statue sooner than later. Wepner is getting older and it would be nice to do it while he is alive, especially as he battles cancer.
“This statue will still be there in 100 years,” Dillin said. “It will still be there and it will still be a relevant story.”
For updates on this and other stories, check www.hudsonreporter.com and follow us on Twitter @hudson_reporter. Daniel Israel can be reached at firstname.lastname@example.org.
The post Enough money raised to bring Chuck Wepner statue to Bayonne appeared first on Hudson Reporter.
Original Post: hudsonreporter.com
Finance7 months ago
Dogecoin – What I Hate, Love, and Fear About the Cryptocurrency
Finance7 months ago
Small Businesses Increase Employment and Wages in March – Accounting Today
Healthcare7 months ago
DLF to Launch Projects in Medium Term With Sales of About Rs 40,000 Crore
Tech7 months ago
Twitter Spaces: All Android, IOS Users Can Now Host Their Own Space
Entertainment7 months ago
Scientists Discover One of the Youngest Planets Ever Found, 400 Light-years From Earth
Healthcare7 months ago
China’s Ambitions Pose ‘omnipresent Danger’ to South Asia’s Stability: CDS
Entertainment7 months ago
Covid Cases Were Already Falling in Children BEFORE Half-term
Tech7 months ago
Penn State Harrisburg Alumni Named Penn State Alumni Fellows