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Underground houses, also known as earth-sheltered homes or subterranean dwellings, have gained considerable popularity in recent years due to their unique design, energy efficiency, and sustainability. These remarkable homes provide numerous benefits, from insulation against extreme weather conditions to reduced energy consumption. 

In this Redfin article, we will delve into the fascinating world of underground houses, exploring their advantages, construction techniques, and environmental impact. Whether you’re considering land in New Mexico’s arid climate or Colorado’s chilly terrains, join us as we delve into the alluring world of underground living.

What is an underground house?

An underground house, also known as an earth-sheltered home or subterranean dwelling, is a residential structure built partially or entirely below ground level. It takes advantage of the earth’s natural insulation and stability to create a sustainable living space. These homes offer benefits such as energy efficiency, thermal insulation, protection against extreme weather events, and a unique blend with the natural surroundings. 

Strategic design elements ensure sufficient natural light and ventilation, while proper construction techniques address structural stability and moisture management. Underground houses provide an innovative and environmentally conscious approach to modern living.

5 advantages of underground houses

1. Energy efficiency

Underground houses offer exceptional energy efficiency by tapping into the earth’s natural insulation, providing a thermally stable living environment year-round. The earth’s moderating effect reduces the need for excessive heating or cooling, resulting in significant energy savings and lower utility bills. This sustainable and eco-friendly approach enhances occupants’ comfort while aligning with the growing demand for environmentally conscious housing alternatives. 

Underground homes are a compelling choice for those seeking to reduce their carbon footprint and embrace a more sustainable lifestyle.

2. Environmental sustainability

By utilizing the earth as a natural barrier, underground houses significantly minimize their carbon footprint. The reduced energy consumption and reliance on fossil fuels contribute to a greener and more sustainable living environment. Additionally, these homes often incorporate renewable energy sources, such as solar panels, to further decrease their environmental impact.

3. Enhanced environmental protection 

Underground houses offer increased environmental protection compared to traditional homes. Their unique construction provides excellent protection against severe weather events like hurricanes, tornadoes, and wildfires. The earth’s mass acts as a shield against high winds and flying debris, making underground houses a secure shelter option.

4. Noise reduction

The thick layer of earth surrounding underground houses provides excellent sound insulation, creating a peaceful and quiet living environment. This makes them ideal for individuals seeking tranquility away from bustling urban areas or noisy neighborhoods.

“Underground homes, also known as earth berm or earth sheltered homes, boast several advantages over traditional houses,” shares Burrow Bureau (Journal of Underground Homes). “They are eco-friendly, require less energy for heating and cooling, and contribute to lower environmental impact by reducing noise and light pollution. With affordable construction, they become a viable option, especially in high land price areas. For those seeking a non-traditional living experience, underground homes offer undeniable benefits.”

5. Integration of renewable energy sources

Underground houses offer ample opportunities for integrating renewable energy sources, further reducing their environmental impact. Geothermal heating, for example, harnesses the constant temperature of the earth to provide efficient and sustainable heating and cooling throughout the year. Wind power can also be harnessed in certain locations to generate clean energy, further offsetting the house’s electricity needs.

Underground houses for different regions  

Arid and desert regions

In arid and desert regions like Phoenix, AZ, where scorching summers and limited water resources pose challenges, underground houses excel in their natural insulation properties. These homes remain cooler during hot days, providing relief from the intense heat. Additionally, underground houses can incorporate rainwater harvesting systems to mitigate water scarcity issues.

Cold and harsh climates

In colder regions such as Anchorage, AK, characterized by harsh winters, underground houses leverage the earth’s insulation to retain heat, reducing the reliance on conventional heating systems. These homes are strategically designed to withstand extreme cold temperatures and heavy snowfall, ensuring a warm and cozy living environment.

Coastal and hurricane-prone areas

For coastal areas like Miami, FL, that are prone to hurricanes require resilient housing solutions. Underground houses offer a high level of structural stability and protection against strong winds and flying debris. They serve as secure shelters during severe storms, enhancing the safety and peace of mind of their occupants.

Mountainous and hilly terrains

Mountainous and hilly terrains pose unique challenges for construction. Underground houses can be integrated into slopes, taking advantage of the natural landscape to provide stability and blend harmoniously with the surroundings. For example in Aspen, CO, these homes benefit from the earth’s thermal mass, maintaining comfortable temperatures even in high-altitude locations.

Flood-prone regions

In flood-prone regions like New Orleans, LA, where water damage is a significant concern, underground houses offer a reliable solution. Being partially or fully submerged underground, these homes are less vulnerable to flooding. Proper waterproofing and drainage systems are incorporated to mitigate any potential water infiltration issues.

Urban environments

Even in urban environments like Los Angeles, CA, where land space is limited, underground houses can be a viable option. Utilizing innovative construction techniques, such as cut and cover or subterranean methods, these homes can maximize available space while offering the benefits of energy efficiency and reduced environmental impact.

Each region presents unique challenges and advantages, influencing the design and construction of underground houses. By adapting to diverse climates and geographical conditions, these homes offer a sustainable and resilient living solution tailored to the specific needs of each location. 

Construction techniques for underground houses

Construction techniques for underground houses vary, offering versatile options to suit different terrains and design preferences. 

The Cut and Cover technique entails excavating a hole in the ground and constructing the house within it. The structure is then covered with a layer of earth, seamlessly blending it with the surroundings. This method is particularly suitable for flat or gently sloping terrains, creating a harmonious integration with the landscape.

The Earth Berm construction technique means a house is built into a hillside or embankment, leaving only one side exposed. This exposed side receives ample sunlight, while the other sides are covered with earth, providing natural insulation and stability. The earth berm method allows for strategic positioning to maximize solar exposure while blending the house with its natural surroundings.

The Subterranean technique involves building the house entirely below ground level. This method is often employed in areas with extreme weather conditions or when homeowners prioritize maximum privacy and minimal impact on the landscape. Subterranean houses are hidden beneath the earth’s surface, offering a unique and discreet living environment. Each construction technique presents its distinct advantages, contributing to the allure and innovation of underground living.

“Earth sheltered homes boast a remarkable ability to harmoniously integrate with the natural landscape,” notes Earth Homes Now. “Through thoughtful planning and skillful landscaping, these homes seamlessly blend in with their surroundings, creating a visually appealing and organic living space. The unique architectural style of underground houses stands out as a testament to innovation, all while showcasing a deep respect for and preservation of the land’s natural beauty. The result is a dwelling that not only captivates the eye but also embraces a sustainable and respectful approach to coexisting with the environment.”

Designing an underground house

Designing an underground house requires thoughtful planning and creative ingenuity to maximize the unique advantages of this architectural style. From harnessing natural resources to optimizing living spaces, every aspect of the design contributes to the overall sustainability and functionality of the underground dwelling.

Site selection and orientation

Choosing the right site is crucial for an underground house. South-facing slopes allow for strategic positioning to capture maximum sunlight, optimizing passive solar heating. Proper orientation ensures ample natural light and ventilation, creating a bright and airy living environment.

Integration with the landscape

Harmonious integration with the natural landscape is a hallmark of underground houses. The design should consider contouring the terrain and incorporating earth berms to minimize the visual impact on the surroundings. Thoughtful landscaping enhances the aesthetic appeal while providing additional insulation and water management.

Efficient space planning

Optimizing the use of space is essential in underground houses, where limited surface area requires efficient design solutions. Open floor plans, multi-functional spaces, and creative storage solutions make the most of the available square footage, promoting a comfortable and clutter-free living environment.

Future adaptability

Designing an underground house with future adaptability in mind ensures the dwelling can accommodate changing needs and technologies. Considerations for potential expansions, incorporation of new energy-efficient systems, and accessibility upgrades ensure the home remains relevant and functional for years to come.

Compliance with building codes

Underground houses must meet building codes and regulations specific to their location. Engaging with professionals familiar with underground construction and local building requirements ensures the design adheres to all safety and legal standards.

Environmental considerations for long-term durability

Natural light and ventilation

Although underground houses are partially or fully submerged, strategic design elements ensure an adequate influx of natural light and ventilation. Lightwells, skylights, and carefully placed windows allow sunlight to penetrate the interior, while ventilation systems maintain a fresh and healthy airflow.

“Earth-sheltered houses, contrary to common misconceptions, can be designed to be well-lit, with views and a sense of openness,” mentions Green Home Building. “By digging into a south-facing hillside or using earth berms around the house, windows can be strategically placed for solar heating, while the rest of the house is surrounded by earth. This design allows for a comfortable and pleasant living space, taking advantage of the earth’s natural insulation and stability.”

Water management

Effective water management is crucial for maintaining a dry and pleasant living environment in underground houses. Moisture-related concerns in subterranean dwellings necessitate the implementation of appropriate techniques to prevent water infiltration. Waterproofing, drainage systems, and thoughtful landscaping are key strategies employed to achieve this goal. 

Waterproofing materials create a protective barrier, preventing water from seeping through walls, ceilings, and floors. Drainage systems efficiently redirect water away from the house, while thoughtful landscaping aids in water runoff and absorption, reducing the risk of erosion and water-related problems. These measures ensure the comfort, durability, and sustainability of underground homes.

Structural stability

In the realm of underground houses, ensuring structural stability is crucial to withstand the earth’s pressure and maintain a safe living environment. 

Several elements contribute to achieving this stability, such as reinforced concrete walls that handle lateral pressures and pile foundations in challenging soil conditions. Proper engineering ensures the structure can withstand the surrounding earth’s weight, minimizing settling or damage risks. Retaining walls strategically retain and support surrounding soil, safeguarding the dwelling. Careful consideration of slope stability and geotechnical aspects further reinforces the underground house, ensuring its longevity and safety.

Potential challenges and drawbacks of underground houses

Underground houses offer unique advantages but also come with challenges. Prospective homeowners should consider factors such as limited natural light and ventilation, moisture management, higher construction costs, and potential accessibility concerns. Addressing these issues through thoughtful design and maintenance can create a comfortable and sustainable living space. Despite some drawbacks, with careful planning and proactive measures, underground houses offer a distinctive and innovative lifestyle that many find rewarding and eco-friendly.

A final note on underground houses

In conclusion, underground houses offer a sustainable and innovative living solution. Despite challenges like limited light and construction complexities, their benefits in energy efficiency and environmental impact make them a compelling option. Embracing advanced environmental considerations and seamless integration with the landscape enhances their appeal. Underground houses symbolize a responsible and eco-conscious approach to modern living, paving the way towards a greener future.

Source: redfin.com

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Housing demand collapsed in 2022, and the homebuilders’ confidence survey looked like a waterfall collapse similar to during COVID-19 and the great financial crisis. However, something changed toward the end of 2022, and the homebuilders are now singing Party Rock Anthem as their confidence levels have increased along with their stock prices. 

As we can see in the chart below, the NAHB/Wells Fargo Housing Market Index (HMI) data, which surveys homebuilders, is above 50 again. This means homebuilders are feeling confident enough to issue more housing permits, as we have seen growth in single-family permits the last few months.


The housing market, in general, turned on Nov. 9, 2022. (I go over that more in detail on this episode of the HousingWire Daily podcast.) However, even though the housing dynamics changed, existing home sales aren’t enjoying the growth in sales like the new home sales sector.

On Wednesday we got the housing starts data, and the builders are starting to push growth in single-family permits. Last year, people were talking about a second housing bubble crash, saying the builders had too many backlog orders to issue new permits. What a difference a year makes!

From Census: Building Permits: Privately‐owned housing units authorized by building permits in June were at a seasonally adjusted annual rate of 1,440,000. This is 3.7 percent below the revised May rate of 1,496,000 and 15.3 percent below the June 2022 rate of 1,701,000. Single‐family authorizations in June were at a rate of 922,000; this is 2.2 percent above the revised May figure of 902,000. Authorizations of units in buildings with five units or more were at a rate of 467,000 in June.

The builders are making money, not building homes to address the housing inventory shortage. They’re selling homes at the highest profit possible, which makes sense — it’s their business. Last year, we had the biggest one-year collapse in housing sales, but it didn’t create much active listing growth. Even today, we are near multi-decade lows.

From NAR data:

  • 2007 total active listings: 4 million
  • 2023 total active listings: 1.08 million, down year over year too.

Our demographics for home buying are better in the years 2020-2024 than in the previous decade; sadly we didn’t have enough product for them.

So the builders went to work making deals — they’re very efficient sellers. When they need to, they will cut prices and provide lower mortgage rates than what existing homebuyers are getting to move their product. They have done that as new home sales are up 20% year over year, while existing home sales are down 20% year over.

How? Their profit margins are still above pre-pandemic levels, so they have margin to spare, and not every home they sell gets this treatment either. Now you can see why their stocks have done so well. For example, I always reference Toll Brothers‘ stock price since the significant Nov. 9 date.

In this environment, homebuilders have an advantage they didn’t have before, as total active listings were too high, giving people more choices from 2007-2019. Now the builders have pushed down the monthly supply to 6.7 months, almost back to pre-COVID-19 levels, as the chart below shows.

This is why the homebuilders have been so happy lately and why their stocks have done so well. You can add this to the list of things that don’t happen during a housing bubble crash. Last year was a crazy year, and I understand why the usual housing bubble crash people went all in; I mean, it’s year 12 of the housing bubble 2.0 crash!

However, some other people who don’t usually fall for the crash premise joined the party, and as I have stressed for many years, using 2008 housing economic models simply doesn’t work this time. (See my debate last year with a stock trader on this subject here.)

Part of the problem I have seen over the last decade is that everyone is too focused on existing home prices crashing and not the economics of housing. Remember, economics done right should be boring and you always want to be the detective, not the troll.

Source: housingwire.com

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Solid minerals are naturally occurring substances such as metals, non-metallic minerals, and rocks. These minerals are generally mined from the earth’s crust and are used in various industrial and economic activities. The value of minerals can vary, depending on a variety of factors, such as the demand for the mineral, its scarcity, and its usefulness in various industries. Here are some of the most valuable minerals in the world:

1. Rhodium

Rhodium, a scarce and lustrous metal, finds its application in catalytic converters and jewelry. Apart from its aesthetic value, its high resistance to corrosion and ability to reflect light makes it ideal for jewelry. As of today, it holds the record for being the priciest precious metal worldwide, with a market value of approximately $24,000 per ounce, surpassing gold and platinum.

2. Platinum

Platinum is a highly versatile and valuable metal known for its unique properties and diverse range of applications. Its remarkable density, malleability, resistance to corrosion, and high melting point make it an ideal choice in various industries, including catalytic converters, jewelry, and electronic components production. It is also widely used in high-end watches and fine jewelry due to its rarity and association with luxury. Platinum’s market price averages around $1,000 per ounce, reflecting its worth and high demand. Its combination of beauty, durability, and functionality continues to make it a highly prized and valuable metal.

3. Gold 

Photo Credit: Shutterstock.

For centuries, gold has been prized for its malleability, ductility, and resistance to corrosion. Its timeless beauty and scarcity have also made it a treasured symbol of wealth and status across different cultures and civilizations. Today, gold continues to hold its value, with its current price hovering around $1,800 per ounce.

4. Diamonds 

Photo Credit: Shutterstock.

Diamonds are among the most sought-after and coveted gemstones worldwide. These exquisite gems are widely used in jewelry and serve an essential role in various industries, including cutting tools for mining and construction. The value of a diamond is determined by the 4 Cs: carat weight, color, clarity, and cut. A diamond’s carat weight refers to its size, and larger diamonds are typically more valuable. The color of a diamond ranges from colorless to light yellow or brown, with colorless diamonds being the rarest and most valuable. Clarity refers to the number of imperfections, or inclusions, in the diamond, with fewer inclusions indicating higher clarity and value. Finally, the cut of a diamond refers to its shape and angles, which determines its brilliance and overall beauty.

5. Lithium

Lithium is highly reactive and the lightest metal. It’s used in a wide range of applications, from powering electronic devices and electric vehicles to manufacturing ceramics and glass. Due to its remarkable electrochemical properties, the demand for lithium has surged in recent years, primarily driven by the growing market for electric vehicles. As a result, the value of lithium has skyrocketed, making it a highly lucrative industry for investors and mining companies alike. However, the production and mining of lithium have environmental and social impacts, making it a controversial topic for sustainability advocates.

6. Cobalt

Photo Credit: Shutterstock.

Cobalt is a lustrous transition metal known for its high melting point and magnetic properties. Its indispensable role in rechargeable batteries and electronic devices has made it a critical component in modern technology. Moreover, its value has surged in recent years as the global transition towards electric vehicles continues to accelerate since cobalt is a key element in the production of their batteries.

7. Palladium

Palladium is a valuable transition metal used in various industries, including automobile, electronics, jewelry, dentistry, medicine, and advanced technologies. Its market value has increased due to the growing demand for catalytic converters, while its exceptional qualities, such as biocompatibility and corrosion resistance, make it a critical material in different applications.

8. Silver

Photo Credit: Shutterstock.

Silver is a malleable and ductile metal, and because it’s so versatile, it finds its application in various industries, including photography, dentistry, and solar power. Its market value of $25 per ounce makes it a popular investment option for both individuals and institutions due to its stability and potential for long-term growth. In addition to its economic importance, silver has played a significant role in human history and culture. It has been used as currency and a store of value for thousands of years, while its luster and beauty make it a popular choice for decorative purposes.

These eight minerals are highly valuable and play an important role in various industries and economic activities worldwide. From the rare and costly rhodium to the versatile and widely used silver, each mineral has its unique properties and qualities that make it highly sought after. While the extraction and production of these minerals have environmental and social impacts, the demand for these minerals continues to grow, making them a crucial part of our modern world.

Image Credit: Shutterstock – Denis Makarenko

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We’ve all heard the famous adage that “no publicity is bad publicity,” and while it tends to be accurate, there are certainly exceptions. But what about those few stars who stay out of the limelight and get along without a hint of trouble? 

These 7 Celebrities are Genuinely Good People

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Have you ever known someone and thought you liked them—until you learned about their hobbies? Then you get to know them and then you’re like, “Wow, red flag.” Well, you’re not alone.

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Some celebrities definitely seem to enjoy the limelight and keep working to stay in the public eye. While others quickly move out of the spotlight. Many of these actors and actresses stepped out of the spotlight to live a more private life without constant media pressures.

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About the Author



Dan Williams



Source: financequickfix.com

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The pandemic has led to job losses for many Americans, with 712,000 unemployment filings for the week ending March 6th. If you’re one of those filers, you may receive your payment automatically, but it can still help to know how the process works.

But if you haven’t received your extra unemployment payment yet, it can help to know that it varies by state. Most states have already begun processing unemployment payments, but it still could take some time. If you’re still waiting for your extra unemployment, here’s what you need to know.

What’s Ahead:

The first thing you’ll need to determine is whether you even qualify for a payment. You’ll have to currently be unemployed and receiving benefits to get the $300 payment automatically issued. But if you were unemployed between March 29, 2020, to March 13, 2021, and your benefits ran out, you may still qualify for unemployment compensation through the Pandemic Emergency Unemployment Compensation (PEUC). 

If you haven’t applied for unemployment already, you’ll need to do so as soon as possible to be eligible for the extra payment. You don’t have to be unemployed due to COVID, but you do have to meet your state’s eligibility criteria for unemployment payments. If you qualify for unemployment in your state, you’ll qualify for any extra payments being issued.

Who will get the payment automatically?

If you’re already receiving unemployment benefits, you’ll receive the extra $300 payments automatically through September 6th. This is an extension of the previous $300 extra weekly payments that were set to expire on March 14th. The payments are retroactive to December 27th, so if yours is running late, you’ll still be paid for what you’re missing now. The maximum PEUC you can receive is now 53 weeks, which is more than double the previous limit of 24 weeks.

But there are some people who won’t get those payments automatically. If your unemployment benefits have run out, you’ll need to apply specifically for the PEUC program. If your benefits are on the verge of ending, you’ll have to wait until your benefits are exhausted to apply for PEUC. Once you’ve applied and been approved, you’ll go through the same weekly filing process you went through when you were on unemployment.

What happens if your unemployment ran out months ago and you were relying on PEUC last year? You’ll have to reapply for the PEUC program.

Unemployment relief for the self-employed

What about the many unemployed Americans who work for themselves? The Pandemic Unemployment Assistance (PUA) program is designed to issue $300 weekly payments to the many contract workers that are having a tough time finding work. Those include freelancers, part-time workers, gig workers, and other independent contractors who aren’t usually eligible for unemployment.

If you qualify for PUA, you’ll need to apply through your state’s unemployment office. Be prepared to submit documentation verifying that you’re eligible for assistance. To qualify, you need to be able to demonstrate that you are self-employed. This verification could include documents like tax returns, a business license, or client invoices.

Unemployed workers who combine freelance work with a W-2 job could qualify for an additional $100 each week. If you think you meet the qualifications, contact your state unemployment office for instructions.

Once it’s started, you may wonder how long you can expect the payments to keep coming. The extra $300 was originally scheduled to continue through March 14th. But it’s retroactive to December 27th. The newly-signed bill extends the extra relief through Labor Day of this year

Freelancers who qualify for PUA will also get the extra money a little longer. The American rescue plan also extends PUA benefits through Labor Day. However, the maximum unemployment benefits you can receive as an unemployed freelancer is 79 weeks. If you live in states with high unemployment rates, that may be extended to 86 weeks.

Unless a bill extending the extra unemployment is passed, on the cut-off date, you’ll resume receiving your standard unemployment benefits until your unemployment runs out. Currently, no extra compensation is planned after September 6th.

Do I have to be actively seeking employment?

The usual rules of unemployment still apply. You’ll need to be actively looking for work while receiving unemployment benefits even during COVID. But how you’ll demonstrate this varies from state to state. In some states, you’ll simply sign a statement saying you’re looking for work, while others will require you to provide contact information for the places you’ve applied.

However, there are some COVID exceptions to this general rule. If your business closed or reduced operations due to the pandemic, you might not have to prove that you’re looking for work. But this only applies if your employer has promised to call you back into work when the business resumes normal operations.

How will the payment be issued?

If you’re receiving unemployment compensation, the $300 will be added to your weekly benefits. In many cases, this is by direct deposit, but some recipients get their money via debit card or paper check. If you want to change the way your benefits are paid, you can usually do this through your state unemployment office.

For those who aren’t receiving unemployment compensation, PEUC is typically paid one of two ways: direct deposit or prepaid debit card. The unemployment office will use the last method of compensation to deposit your PEUC funds. If you received your previous payments by debit card, the funds will be deposited to that card unless you request direct deposit when you sign up for PEUC.

One great option for direct deposit is Chime®. Once you have an account, you can direct your unemployment benefits to go directly to that account. Chime will even give you access to your funds as much as two days earlier than what they’d normally be available with direct deposit.3 So if you’re eager to get it, this could be a way to consistently receive those weekly payments a couple of days early.

3 Early access to direct deposit funds depends on the timing of the submission of the payment file from the payer. We generally make these funds available on the day the payment file is received, which may be up to 2 days earlier than the scheduled payment date.

What happens if my work fluctuates?

COVID has complicated things for some workers. With lockdowns and restrictions varying, you may be called back to work, only to be laid off again a few weeks later. But if you’re receiving unemployment benefits, you may need to reach out and let your unemployment office know. In some states, you simply have to stop certifying every week and your benefits will expire.

If you’re called back to work and laid off again, there is some good news when it comes to unemployment benefits. You can pick up your unemployment benefits where you left off. This includes the extra benefits you’re receiving. You’ll continue to get benefits until you’ve exhausted the number of weeks you’re eligible to receive them or you reach the cutoff date.

Summary

Extra unemployment compensation has helped unemployed workers make it through a tough economic time. As things gradually return to normal, hopefully, unemployment claims will drop and there will be no need for a further extension of extra unemployment benefits.

In the meantime, it’s important to check with your state unemployment office to determine what unique requirements apply to your own unemployment claims.

Read more:

Source: moneyunder30.com

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As a new driver, nothing can be more overwhelming than having to adjust to the unfamiliar rules and regulations of the road. From remembering all of the speed limit changes from road to road to knowing what is expected when merging into traffic, it can take time before driving becomes second nature. While there are many laws that govern safe driving, along with these official rules there are also plenty of unwritten ones as well.

In this blog post, we’ll explore some of these unofficial yet widely accepted practices of driving on the road, according to these Reddit users.

1. Always Use your Turn Signals

Photo Credit: Shutterstock.

According to one user, “Try to give other drivers as much information as possible. Always use your turn signals, even in a turn lane. People have no way of knowing if you’re actually about to turn or not.” 

“Yes, it helps to reinforce the facts. Not everyone is paying full attention, simply seeing your blinker automatically informs them that you are in the turning lane and will be crossing their lane when able. It helps establish what’s actually going on or about to happen,” one Redditor replied.

Another user answered, “Use your blinkers but don’t trust other driver’s blinkers.”

“[Using your blinkers] is not unwritten,” one user commented.

2. Don’t Cut Corners

One user posted, “Don’t cut corners. I’ve nearly had head-on collisions because people can’t just slow down a little and turn into the lane properly.”

Another Redditor then responded, “Thissss and if you’re on the outside of a double turn lane, turn WIIIIDE so the inner turn lane doesn’t have to crash into the median, or you, to make their turn.”

One user added, “Not entirely sure this is an unwritten rule, more of a ‘if you can’t turn a literal corner properly you shouldn’t be driving.’”

“Yeah if you take a driver’s exam this is a literal written rule,” a user answered.

3. Keep Your Cool: Road Rage Kills

Photo Credit: Shutterstock.

One Redditor shared, ”Keep your cool. Road rage kills.”

Another replied,”I was a passenger during a road rage incident and the other car was shooting at the car I was in. Luckily, neither of us were hit. I’m still afraid of being in a car, sometimes.”

“Almost 20 years ago some dildo pulled a rifle on me over some road rage. The guy had done similar stuff in the past and ended up getting 7 years in prison. He got out after a few years and there was a solid 6 month period when I was paranoid AF just waiting for the dude to show up at my house or something. So yea I also know what it’s like to get ptsd from road rage lol,” another commenter added. 

4. Speed Up Before you Merge

One user posted, “Speed up to match the speed BEFORE you try to merge onto a highway!!”

A user replied, “Let me add one more thing. If you are in the last lane and you know the merge is coming up, don’t get pissed off when cars are trying to merge and drive faster to not let them in.”

However, one user opposed and shared, “Zipper merging. It’s even in the rulebook. In the UK when two lanes merge into one, people have this tendency to queue up early in the left lane and wrongly leave the right lane open, and then tut and seethe at anyone that dares take the right lane. You even see some blocking it in frustration during bad congestion.

This is WRONG. Guess what? That BMW driver nonchalantly disregarding the queue and nipping into a gap at the end of the lane is the only one doing it right. The correct thing to do is just flow both lanes right up to the cones/lines and ‘zipper merge’ together.

If everyone did that and gave each other room more often then stand-stills would be far less frequent.

The rules are there to keep traffic flowing, not only is it faster but its safer if you keep everything ticking along. Stopping on motorways is dangerous. People’s ignorant mentality to the rules gives our roads coronaries on a daily basis and causes so many accidents. Sometimes I can’t wait for driverless cars to show everybody how it’s done…”

5. Assume Everyone is a Terrible Driver

Photo Credit: Shutterstock.

A user posted, “When I first passed my test, my dad said to me “assume that everyone is a terrible driver who is trying to kill you.”

One added,”lmfaoooo.”

“This is the greatest driving advice of all time,” another replied. 

Source: Reddit. 

Image Credit: Shutterstock – Denis Makarenko

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Photo Credit: Shutterstock.

We’ve all heard the famous adage that “no publicity is bad publicity,” and while it tends to be accurate, there are certainly exceptions. But what about those few stars who stay out of the limelight and get along without a hint of trouble? 

These 7 Celebrities are Genuinely Good People

Photo Credit: Shutterstock

Have you ever known someone and thought you liked them—until you learned about their hobbies? Then you get to know them and then you’re like, “Wow, red flag.” Well, you’re not alone.

These 10 Activities Are an Immediate Red Flag

Photo Credit: Shutterstock.

Some celebrities definitely seem to enjoy the limelight and keep working to stay in the public eye. While others quickly move out of the spotlight. Many of these actors and actresses stepped out of the spotlight to live a more private life without constant media pressures.

10 Celebrities That Made the Big Times Then Disappeared Off The Face of the Earth

Image Credit: Troma Entertainment

We’ve all been there – sitting through a movie that we can’t help but cringe at, but somehow it still manages to hold a special place in our hearts.

These 10 Terrible Movies Are Still People’s Favorites



About the Author



Source: financequickfix.com

Apache is functioning normally

UK Consumers Cut Spending Amid Rising Mortgage Rates

1151 GMT – The latest U.K. consumer confidence survey by Bank of America shows that more consumers are cutting their spending amid rising mortgage rates. “60% of mortgage holders report having changed their spending in response to the expected mortgage rate increases, with increasing numbers cutting back spending ‘a lot’,” says BofA U.K. Economist Robert Wood in a note. The BofA consumer confidence indicator has dropped 2 points since the start of July and 5 points since the middle of June, “reaching the lowest since early January,” Wood says. ([email protected])

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Ocado Backs Full-Year View Despite Widened 1H Pretax Loss

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Darktrace Raises FY 2023 Margin Guidance, Sees It Stable in FY 2024

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Revolution Beauty’s Chair, CEO to Step Down After Reaching Agreement with Boohoo

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Wise PLC 1Q Revenue Rose on Strong Customer, Volume Growth

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CPPGroup 1H Revenue Rose 22% With Solid Growth in India, Turkey

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Carclo Signs Agreement to Amend Banking Covenants, Says Going-Concern Uncertainty Has Ended

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SSP Group Agrees to New GBP300 Mln Loan to Support Strategy

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Arbuthnot Banking 1H Pretax Profit Rose on Higher Interest Income

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Mirriad Advertising US Revenue Hurt by Industry Pressures; Sees 2H Pickup

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IntegraFin 3Q Closing Funds Under Management Rose Despite Lower On-Quarter Inflows

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Just Group Confident On 2023 Targets After 1H Sales Rose on New Business Growth

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Record PLC 1Q Assets Under Management Equivalents Fell

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Judges Scientific Expects to Meet 2023 Market Views After 1H Revenue, Orders Rose

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Osirium Technologies Warns of Additional Capital Raise Before the End of 2023

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United Oil & Gas Shares Tumble on 1H Revenue, Production Fall

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Nanoco Group Calls General Meeting for Aug 14 to Remove Board as Requested

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Petra Diamonds Missed FY 2023 Production Target

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X5 Retail Group 2Q Sales Rose as Selling Space Increased

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Midwich Backs Full-Year Views After 1H Profit, Revenue Rose

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Litigation Capital Management Declares Dividend After Strong FY 2023

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Synthomer Doesn’t See Customer Demand Recovery Before End of 2023

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Luceco 1H Revenue Fell on Lower Demand; Sees 2022 Adjusted Profit at Top of Range

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Vector Capital Sees 1H in Line With Views

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Alliance Pharma 1H Revenue Rose; Expects Further Growth in 2H

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GAM Holding Investor Group Launches Partial Cash Offer to Raise Its Stake

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Futura Medical Chairman John Clarke Steps Down, Jeff Needham Named Replacement

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Unbound Group in Talks With Woolovers to Sell Hotter Shoes Brand, Sky News Reports

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Unbound Group in Advanced Talks With Woolovers to Sell Hotter Shoes Brand, Sky News Reports

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Network Rail Swung to Pretax Loss in Fiscal 2023

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MARKET TALK:

(MORE TO FOLLOW) Dow Jones Newswires

July 18, 2023 10:56 ET (14:56 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.

Source: morningstar.com

Apache is functioning normally

If you haven’t heard of “Guaranteed Rate,” there’s a good chance you’ve never applied for a home loan before. Or maybe you just don’t live in the Midwest, where they’re headquartered.

Despite being from Chicago, they offer home loans to borrowers in all 50 states and Washington D.C., so they can be included in your mortgage search if and when it comes time to apply.

Their goal is to become the top retail mortgage lender in the country, which while ambitious, isn’t necessarily out of reach given their tremendous growth in such a short period of time.

The Relatively Short History of Guaranteed Rate

  • The retail mortgage lender was founded in the year 2000
  • Its headquarters are in Chicago, Illinois
  • They have roughly 4,000 employees and nearly 350 offices nationwide
  • One of the top-10 largest retail mortgage lenders in the country
  • Funded nearly $50 billion in home loans during 2020

While they’re a pretty big name in the mortgage world, they only got started back in the year 2000. That means they’re less than 20 years old, which is pretty short stint for a such a successful lender.

In 2020, they originated more than $48.8 billion in home loans, which should put them in or close to the top 10 in terms of total volume for all mortgage lenders.

Part of their growth can be attributed to acquisitions, including Manhattan Mortgage in 2012, and Sun State Home Loans, Nationwide Direct, Arbor Mortgage, and Firstrust Mortgage in 2014.

They also took over a call center and roughly 75 loan officers from Discover Home Loans after it went belly up in 2015.

Most recently, they acquired Stearns Lending, which funded roughly $7.6 billion in home loans themselves in 2019.

The move is a serious attempt to become the country’s #1 mortgage lender, though competition is certainly fierce as you near the top.

You might also recall that the company hired Ty Pennington of Extreme Makeover fame a while back to market the company.

A recent joint venture with Realogy’s real estate brokerage company NRT known as “Guaranteed Rate Affinity” has made them a major player in the home purchase financing market as well.

The lender also created another partnership with @properties known as “Proper Rate,” which will extend home loans to home buyers in select regions in the country, namely those represented by @properties’ 2,800 real estate agents.

And their latest JV is known as “OriginPoint,” an independent mortgage lender created with real estate brokerage Compass.

Guaranteed Rate boasts a very high customer satisfaction rating of 95% whom said they were “satisfied.”

Additionally, 94% said the company “made it easy for them to obtain a loan,” and 95% said they’d use the company again in the future.

This is similar to PrimeLending, which also touts one of the highest customer satisfaction ratings in the country for mortgage lending.

Getting a Mortgage with Guaranteed Rate

  • They have a fleet of mortgage loan officers you can search by name
  • And a few hundred branches in cities throughout the country
  • You can also apply online or via their smartphone app without assistance
  • And the home loan process is close to or fully digital in some cases

The company is a consumer-direct retail mortgage lender with what they call an “Intuitive Loan Finder.”

In my experience, it’s basically a lead form that gives you loan options after you answer the typical borrower and property-related questions.

They have since renamed it “GRafforable” in what appears to be an effort to show off their silly side.

They say the GRaffordable loan finder tool is the best mortgage calculator out there, which allows borrowers to gain access to real-time mortgage rates in seconds.

I gave it a whirl and it did indeed take just seconds to generate loan options including a “best match” based on my inputs.

The only drawback was that it didn’t list interest rates for all products displayed.

The good news is you don’t have to provide any contact information to get a bunch of real mortgage quotes in just seconds.

If you like what you see, you can apply for a loan or connect with a loan officer.

The company says it created a “Mortgage Pod” model that surrounds their LOs with a team of “highly-trained specialists” to ensure you’re in good hands.

They also have a “Loan Expert” search feature on their website if you know who you want to work with already.

Or you can simply contact a local branch near you if you want assistance from someone in your area.

Those who prefer to do things without much human interaction can just begin the process online and stay there the entire time if desired.

The company claims to have the “World’s First Digital Mortgage” with proprietary tools like their Transfersafe secure document transfer to streamline the process and eliminate paper waste.

They also say you can get an automated approval from Fannie Mae or Freddie Mac within minutes, likely a mortgage pre-approval, and you can apply for a mortgage using their mobile app.

Their “Red Arrow Approval Express” brings back same-day underwriting with “real approvals” generated in as little as four hours that are probably more robust than their automated pre-approvals.

And their “Appraisal Express” option delivers a home value within 48 hours of the appraiser’s visit to your property to cut down the lengthy loan process.

So it’s clear they’re big on technology and speed, similar to other major players like Quicken’s Rocket Mortgage and newcomers like SoFi.

Guaranteed Rate FlashClose

In light of the coronavirus pandemic, Guaranteed Rate wants you to know that they’ve got a contact-free digital mortgage experience from start to finish.

This includes options that limit or completely eliminate the time an appraiser needs to spend in your home or soon-to-be home.

The finishing piece is known as “FlashClose,” a technology powered by Notarize that allows borrowers to sign most of their closing documents either online or even from their smartphone or tablet.

This may also alleviate some of the stress of signing a bunch of loan documents in one sitting while a notary waits, giving you more time to review and ask questions.

Aside from allowing you to safely social distance, you also get an efficient, simple and secure experience from application to closing.

What Loan Options Does Guaranteed Rate Offer?

  • Home purchase, refinance, construction, and renovation loans
  • Conventional, government, jumbo, and non-QM loans
  • Fixed-rate mortgages and ARMs with various loan terms
  • Interest-only mortgages
  • Rate buydowns and long lock periods

They have a variety of different loan products available, including home purchase loans, construction loans, renovation loans, rate and term refinances, and cash out refis.

You can get a conventional loan backed by Fannie or Freddie, or a government loan backed by the FHA, USDA, or VA.

They participate in HUD’s Good Neighbor Next Door program, which allows law enforcement, teachers, firefighters, and EMTs to get mortgages with as little as $100 down payment.

Speaking of low down payments, they also offer a 1% down mortgage program, which combines the 97% LTV program with Fannie/Freddie and a 2% grant.

In the home improvement channel, you can get an FHA 203k loan or a Fannie Mae HomeStyle renovation loan to renovate and finance your property in one convenient loan.

Additionally, they have both conforming and jumbo loan amounts available to their customers in more expensive regions of the country, along with both fixed-rate loans and ARMs.

In terms of available programs, you can get a 30-year fixed, 20-year fixed, or 15-year fixed.

In the adjustable-rate category, they’ve got a 5/1 ARM, 7/1 ARM, and 10/1 ARM. They’ve also got interest-only options for those who believe their money is better spent elsewhere.

The Guaranteed Rate 2-1 Buydown

Guaranteed Rate also offers a 2-1 buydown, which offers a rate 2% below the note rate in year one, and 1% below the note rate in year two before returning to the actual rate offered.

For example, if you qualified for a rate of 5% on a 30-year fixed, you’d get a rate of 3% the first year, 4% the second year, and 5% for the remaining term.

When it comes to locking in your rate, they offer a “Lock n’ Roll” option that allows you to renegotiate your rate if interest rates go down.

Lock terms are also pretty lengthy, with 55-, 70-, and 85-day options available.

For those doing construction, they offer the “Lock n’ Build” option with lock periods as long as nine months, or 270 days.

I don’t believe they offer second mortgages or home equity loans/lines, which would be the only major product category missing here.

Guaranteed Rate Mortgage Rates

  • You can find their daily mortgage rates right on their homepage
  • They don’t appear to be noticeably higher/lower than most other major lenders
  • Check the loan assumptions to see what’s required for the advertised rates
  • And take the time to shop around if price is your number one concern

One thing I like about Guaranteed Rate is the fact that they advertise their mortgage interest rates right on their homepage.

This means there’s no guessing as to where they stand pricing wise. Of course, advertised rates always contain lots of assumptions, such as a specific credit score, loan-to-value ratio, and so on.

For example, their rates require a 25% down payment, as opposed to the typical 20% you often see advertised, a 740+ FICO score, and the property must be a one-unit primary residence.

In other words, you may not actually qualify for the rate seen on their website, though it should at least give you an idea if you compare their advertised rates to those of other lenders.

I felt their rates were in line with what other major lenders advertise – not necessarily cheaper or more expensive.

Guaranteed Rate Reviews

They have a 4.96 star rating out of 5 on Zillow, which is as close to perfect as you can get.

It’s based on more than 10,000 customer reviews, so the company has certainly been heavily vetted by those who have used them.

A good chunk of the reviews indicated that both the interest rate and closing costs were lower than expected, a good sign if you’re looking for the best deal.

You’d think with a name like Guaranteed Rate that the mortgage rate would be good, right?

At last glance, their Better Business Bureau (BBB) profile was rated ‘A’, with about 40 customer complaints over the past 12 months.

They are an accredited business with the BBB since 2009.

Those looking to dig even deeper should consider searching for individual loan officer reviews online.

Many if not all of their employees have reviews that can be easily found, and with such a large company, it may be a better indicator than overall ratings.

Why Choose Guaranteed Rate for Your Mortgage Needs?

  • They claim to offer the World’s First Digital Mortgage
  • And offer a lot of tools to close your loan quickly and easily thanks to tech investments
  • They’ve won a lot of best lender awards
  • Have high levels of customer satisfaction that beat most others in the industry

They claim to be a technology leader in the mortgage space with the “World’s First Digital Mortgage,” so if speed and convenience is your thing, they might be a good choice.

The same-day underwriting and 48-hour appraisal turnaround time can certainly make a traditionally slow and painful home loan process a lot faster.

They’ve also been able to cut the closing appointment down to around 10 minutes thanks to electronic signing.

And being able to do most, if not everything, from a computer or smartphone should ease the burden of obtaining a mortgage.

There are plenty of loan options to suit most borrowers’ needs, and their customer satisfaction numbers are some of the best in the industry.

They were recently named in the Best Mortgage Lenders of 2018 list by U.S. News and World Report and received the 2018 FinTech Breakthrough Award for the Best Online Mortgage Lender.

They could be a good choice for a home purchase seeing that they’re partnered up with Realogy and likely trusted by lots of real estate agents nationwide to close your loan on time without any hiccups.

The company also offers insurance, including homeowners insurance, auto insurance, and life insurance via one of their subsidiaries. So they might be a one-stop shop for all your homeownership needs.

Guaranteed Rate is also committed to being transparent and promise low rates and fees, which after all, is kind of in their company name.

Of course, they might not offer the lowest mortgage rates around, so shopping is always recommended.

Guaranteed Rate Pros

  • Appear to have competitive mortgage rates
  • Offer a fully-digital mortgage experience (contact-free)
  • Can apply online, in-branch, via smartphone, etc.
  • Lots of different loan programs to choose from
  • Excellent reviews from past customers
  • ‘A’ BBB rating, accredited business
  • They have a free smartphone app
  • Offer entire mortgage experience in Spanish

Guaranteed Rate Cons

  • They charge a $1,290 lender fee
  • May require higher minimum credit scores than other lenders
  • Don’t appear to offer second mortgages or home equity lines of credit (HELOCs)
  • Will likely transfer your mortgage to a third-party loan servicing company

Source: thetruthaboutmortgage.com

Apache is functioning normally

Three of the four Altos price measures are now showing positive data compared to 2022. The median price of the homes in contract is higher than last year and the new sales each week are up a few percent over last year. This is what a soft landing looks like. The froth is out of the market. There was no crash. 

Could the market crash from here in the future? Of course, it could. Buyers are very sensitive, so if inflation reheats, unemployment spikes and mortgage rates jump again, then the economy fails at its soft landing and craters hard. We could see inventory from distressed sellers emerge in 2025. But that’s a long way out. So right now — soft landing.

Price

The median price of all single-family homes on the market in the U.S. is $450,000. That’s essentially unchanged from 2022. It is just a few hundred bucks lower. In the dark red line above, the data shows how rapidly home prices were adjusting lower starting in July 2022. This year, prices are past their annual peak and will decline, but in a few weeks, it looks like the market will be up year over year. 

The median price of the newly listed cohort — all the homes that hit the market in the last week — is about $410,000. That’s higher than in 2022 at this time. Last year if you listed your home in July, you priced at a discount because there were no buyers. But buyers are present this year, so prices are not up year over year. In the light red line on this chart, the data shows the rapid price decline of the new listings in the second half of 2022. That seasonal decline will be less steep this year, so annual prices will increase more as the year progresses. 

I’ve been watching the price of the new pending sales each week. This statistic is really compelling as a leading indicator of future sales. The median price of the new pending sales this week is $379,000. That’s down from last week but you can see how the home sales each week now are consistently higher priced than they were in 2022. The dark red line is the weekly curve from this year. The light red line is the curve of last year. Look at those big buyer discounts in July and September of 2022.  

When I talk about a soft landing, this is where you can really see how it could get derailed. Buyers are sensitive to big jumps in mortgage rates. If I’m getting ready to buy a house, and mortgage rates jump in a week, I either hold off, or I have to buy a cheaper home. We can see the immediate impact of the mortgage rate spikes from 2022 in the price of each week’s new pending sales. The data also shows how, right now, home prices are holding up each week. Fortunately for the soft landing, inflation numbers were encouraging last week so mortgage rates fell.

Will the rest of the year continue to show price gains? As of right now, the data says yes. We can see that the homes on the market now are not taking price cuts at any unusual rate. That’s because sellers see demand at the current asking prices. Homes that are on the market now, if they don’t have offers, take a price reduction, get an offer in August, that sale closes in September or October. That data will be reported in October or November. So we can see almost through the end of the year how the soft landing home prices are holding up. 

In this chart, the dark red line is the curve of price reductions through the year so far. Currently, 33.1% of the homes on the market have taken a price cut. This is a rate about the same as 2018 or 2019 for example. It shows us that demand isn’t crazy like during the COVID-19 Pandemic, but is just fine for the current level of supply of homes for sale.  

As the year goes on, more homes still on the market will take a discount in order to attract buyers before the fall. There’s a normal seasonal curve here. This is what a balanced housing market looks like.

As the real estate market’s soft landing has become apparent, the housing bears have switched from fearing that home prices are tanking to pointing out that the sales rate transaction volume is way down. This is accurate. We have fewer sales now than we did a year ago.

Interestingly, as part of the soft landing, the sales rate is now gradually catching up with last year. There are now 378,000 single-family homes in the contract pending stage. That’s 10% fewer than 2022 at this time and fractionally fewer than last week. We’re past the seasonal peak for sales volume, so each week we should generally see fewer pending sales.

In 2022 the market was still slowing, so while there are 10% fewer homes in contract, this week there were only 4% fewer newly into contract. Just 4% fewer buyers making offers compared to 2022 at this time. There are 58,000 new contracts on single-family houses this year compared to just over 60,000 in mid-July of 2022. We’re gradually getting closer to last year’s pace. I imagine by later in the summer we’ll be showing more sales each week than we had in 2022 at this time. Especially if mortgage rates drift lower from here. 

Inventory

The second half of 2023 looks like there will be more sales on less inventory than the year prior. It’s not a lot of sales. Demand is way lower than during the COVID-19 Pandemic frenzy, and we’re so severely limited with supply that any uptick in demand doesn’t really have anywhere to go. But the end of 2022 was stopped cold and this year is warmer, on all measures. That’s what I mean when I say soft landing. 

There are 470,000 single-family homes on the market now. That’s up 1% from last week. It’s 7.5% fewer homes on the market now than in 2022 at this time. That inventory gap between now and last year is growing wider every day. Even with mortgage rates around 7%, the sales rate has remained strong enough to keep the inventory in balance.

2023 began with 490,000 single-family homes on the market. What’s wild is that may prove to be the highest inventory of the year. There were more homes on the market over the New Year holiday than there are now. Most years, inventory peaks at the end of July. In the market slowdown years, for example, 2018 or 2022, inventory can keep growing later into the summer or even the fall. Sellers keep listing and buyers hold back. This year is not a slowdown year. It could be that the first week of January turns out to be the greatest inventory for 2023. That’s what a soft landing looks like.

There are some local markets that have not landed as softly as the whole country. There are some markets where demand hasn’t recovered. For example, downtown San Francisco seems to have a lot of churn still to experience. And as I’ve said before, a soft landing in 2023 doesn’t mean that home prices will never go down. That would be just silly to presume. Soft landing describes how the market has successfully transitioned from crazy hot to much more stable without going through painful over correction

Mike Simonsen is the president and founder of Altos Research

Source: housingwire.com