For the third consecutive week, we haven’t quite reached my weekly target of inventory growth between 11,000 and 17,000 homes. However, we came close to our target with inventory growth of 9,726 and there’s a silver lining: mortgage rates have recently fallen. On another positive note, we have surpassed the total inventory levels of last year, indicating a gradual increase in listings in the marketplace.
Weekly inventory change (May 10-May 17): Inventory rose from 568,471 to 578,016
The same week last year (May 12-May 19): Inventory rose from 421,101 to 424,907
The all-time inventory bottom was in 2022 at 240,194
This week is the inventory peak for 2024 at 578,016
For some context, active listings for this week in 2015 were 1,124,747
New listings data
Growth in new listings this year is a positive development, but it’s been lighter than what I was hoping for. If we can get the seasonal peak data to run between 95,000 and 110,000, I will consider that a home run year for new listings data growth. Compare this level to 2008-2012 when this data line ran between 250,000 and 400,000 per week: clearly we aren’t seeing any considerable national-scale stress in this data line.
In my perfect world, I would have liked to see this year’s new listings data grow more than 2022 levels during the peak seasonal months but so far that hasn’t happened. Since 2023 was the lowest level of new listings ever, showing growth above last year isn’t saying much. Hopefully, we will get a pick-up over the next few weeks before seasonality kicks in and we see the natural decline in new listings data toward the end of the year.
Here’s the new listings data for last week over the last several years:
2024: 67,530
2023: 59,072
2022: 83,812
Price-cut percentage
In an average year, one-third of all homes take a price cut — this is standard housing activity. When mortgage rates increase, demand falls and the price-cut percentage grows. When rates drop and demand improves, the percentage falls.
The price-cut percentage is growing yearly as inventory grows, but it’s not accelerating like it did in 2022. In 2022, we saw the biggest crash in home sales ever, and the price-cut percentage data slope was high-speed, especially toward the end of the year. We have a much more normal marketplace in 2023 and 2024.
2024: 34.%
2023: 30%
2022: 22%
10-year yield and mortgage rates
The 10-year yield has fallen recently but bounced off a critical technical level again currently at 4.42%. We need to crack this uptrend to see mortgage rates move lower and stay lower. In this recent HousingWire Daily podcast, I discussed how we need to focus on labor data more than inflation. We’ll be getting the jobs report soon so that will be instructive and bond yields went up on Friday.
Spread between 30-year mortgage rate and 10-year treasury securities yield
Last year, the mortgage spreads were the real negative mortgage rate story as the banking crisis sent the spreads to new cycle high levels, which pushed mortgage rates higher. I had assumed the spreads would get better closer to the first-rate cut, but that rate cut didn’t happen and the spreads improved earlier than I thought. Mortgage rates are still 0.75%- 1.00% higher than we should be when the spreads are normal. However, it could be worse: If the spreads were at the worst levels we saw last year, mortgage rates would be 0.52% higher right now.
Purchase application data
The seasonality of purchase application data is ending, as I usually weigh this index from the second week of January until the first week of May. Traditionally, volumes always fall after May, so we only have a few more weeks left. We have seen mild week-to-week declines of 2% in the last three weeks. Mortgage rates have been falling recently, so we shall see what the next weeks look like. However, the one time we saw real growth for at least 12 weeks was in late 2022 and early 2023.
Since November 2023, when mortgage rates started to fall, we have had 12 positive prints versus 10 negative prints and two flat prints week-to-week. Once mortgage rates began to rise in 2024, some of the mortgage demand was removed. As we can see, the year-to-date data isn’t even positive for 2024. So far, in 2024, we have had six positive prints, tennegative prints, and two flat prints.
The week ahead: Fed speeches and home sales
This week we will have a few Fed presidents giving speeches, so look for the markets to digest specific sentences to get hints on future Fed policy. We also have both home sales reports coming up: existing home sales and new home sales.
On Wednesday I will be on Yahoo Finance to discuss the existing home sales report. Last week, I was on CNBC twice: once to talk about how overblown the underwater homes story is, and the other was to discuss rent inflation and how that influences the Fed. With the 10-year yield and mortgage rates, I want to see how the bond market reacts to Fed speeches and how it reacts to the next jobless claims data.
Inside: Learn what 28 an hour is how much a year, month, and day. Plus tips to budget your money. Don’t miss the ways to increase your income.
You’re probably wondering if I made $28 a year, how much do I truly make? What will that add up to over the course of the year when working? Is $28 an hour good?
Is this wage something that I can actually live on? Or do I need to find ways that I can increase my hourly wage? How much more is $28.50 an hour annually?
When you finally start earning $28 an hour, you are happy with your progress as an hourly employee. Typically, this is when many hourly employees start to become salaried workers.
In this post, we’re going to detail exactly what $28 an hour is how much a year. Also, we are going to break it down to know how much is made per month, bi-weekly, per week, and daily.
That will help you immensely with how you spend your money. Because too many times the hard-earned cash is brought home, but there is no actual plan for how to spend that money.
By taking a step ahead and making a plan for the money, you are better able to decide how you want to live, make sure that you put your money goals first, and not just living paycheck to paycheck struggling to survive.
The ultimate goal with money success is to be wise with how you spend your money.
If that is something you want too, then keep reading. You are in the right place.
$28 an Hour is How Much a Year?
When we ran all of our numbers to figure out how much is $28 per hour is as an annual salary, we used the average working day of 40 hours a week.
40 hours x 52 weeks x $28 = $58,240
$58,240 is the gross annual salary with a $28 per hour wage.
As of June 2023, the average hourly wage is $33.58 (source).
Breakdown of 28 Dollars An Hour is How Much A Year
Typically, the average workweek is 40 hours and you can work 52 weeks a year. Take 40 hours times 52 weeks and that equals 2,080 working hours. Then, multiply the hourly salary of $28 times 2,080 working hours, and the result is $56,160.
That number is the gross income before taxes, insurance, 401K, or anything else is taken out. Net income is how much you deposit into your bank account.
That is super close to the $60000 salary threshold, which is desired to become middle-income worker.
Work Part Time?
But you may think, oh wait, I’m only working part-time. So if you’re working part-time, the assumption is working 20 hours a week at $28 an hour.
Only 20 hours per week. Then, take 20 hours times 52 weeks and that equals 1,040 working hours. Then, multiply the hourly salary of $28 times 1,040 working hours and the result is $29,120.
How Much is $28 Per Month?
On average, the monthly amount would average $4,853.
Annual Amount of $58,240 ÷ 12 months = $4,853 per month
Since some months have more days and fewer days like February, you can expect months with more days to have a bigger paycheck. Also, this can be heavily influenced by how often you are paid and on which days you get paid.
Plus by increasing your wage from $26 an hour, you average an extra $346 per month. So, yes a few more dollars an hour add up!
Work Part Time?
Only 20 hours per week. Then, the monthly amount would average $2,427.
How Much is $28 per Hour Per Week
This is a great number to know! How much do I make each week? When I roll out of bed and do my job, what can I expect to make at the end of the week?
Once again, the assumption is 40 hours worked.
40 hours x $28 = $1,120 per week.
Work Part Time?
Only 20 hours per week. Then, the weekly amount would be $560.
How Much is $28 per Hour Bi-Weekly
For this calculation, take the average weekly pay of $1,120 and double it.
$1,120 per week x 2 = $2,240
Also, the other way to calculate this is:
40 hours x 2 weeks x $28 an hour = $2,240
Work Part Time?
Only 20 hours per week. Then, the bi-weekly amount would be $1,120.
How Much is $28 Per Hour Per Day
This depends on how many hours you work in a day. For this example, we are going to use an eight-hour workday.
8 hours x $28 per hour = $224 per day.
If you work 10 hours a day for four days, then you would make $280 per day. (10 hours x $28 per hour)
Work Part Time?
Only 4 hours per day. Then, the daily amount would be $112.
This post may contain affiliate links, which helps us to continue providing relevant content and we receive a small commission at no cost to you. As an Amazon Associate, I earn from qualifying purchases. Please read the full disclosure here.
$28 Per Hour is…
$28 per Hour – Full Time
Total Income
Yearly Salary (52 weeks)
$58.240
Yearly Wage (50 weeks)
$56,000
Monthly Salary (173 hours)
$4,853
Weekly Wage (40 Hours)
$1,120
Bi-Weekly Wage (80 Hours)
$2,240
Daily Wage (8 Hours)
$224
Net Estimated Monthly Income
$3,705
**These are assumptions based on simple scenarios.
Do you know how many work days in a year you work? This answer may surprise you.
Paid Time Off Earning 28 Dollars an Hour
Does your employer offer paid time off?
As an hourly employee, you may or may not get paid time off.
So, here are the scenarios for both cases.
For general purposes, we are going to assume you work 40 hours per week over the course of the year.
Case # 1 – With Paid Time Off
Most hourly employees get two weeks of paid time off which is equivalent to 2 weeks of paid time off.
In this case, you would make $58,240 per year.
This is the same as the example above for an annual salary making $28 per hour.
Case #2 – No Paid Time Off
Unfortunately, not all employers offer paid time off to their hourly employees. While that is unfortunate, it is best to plan for less income.
Life happens. There will be times you need to take time off for numerous reasons – sick time, handling an emergency, or even vacation.
So, let’s assume you take 2 weeks off without paid time off.
That means you would only work 50 weeks of the year instead of all 52 weeks. Take 40 hours times 50 weeks and that equals 2,000 working hours. Then, multiply the hourly salary of $28 times 2,000 working hours, and the result is $56000 per year.
40 hours x 50 weeks x $28 = $56,000
You would average $224 per working day and nothing when you don’t work.
$28 an Hour is How Much a year After Taxes
Let’s be honest… Taxes can take up a big chunk of your paycheck. Thus, you need to know how taxes can affect your hourly wage.
Also, every single person’s tax situation is different.
On the basic level, let’s assume a 12% federal tax rate and a 4% state rate. Plus a percentage is taken out for Social Security and Medicare (FICA) of 7.65%.
Gross Annual Salary: $58,240
Federal Taxes of 12%: $6,989
State Taxes of 4%: $2,330
Social Security and Medicare of 7.65%: $4,455
$28 an Hour per Year after Taxes: $44,466
This would be your net annual salary after taxes.
To turn that back into an hourly wage, the assumption is working 2,080 hours.
$44,466 ÷ 2,080 hours = $21.38 per hour
After estimated taxes and FICA, you are netting $21.38 an hour. That is $6.62 an hour less than what you thought you were paid.
This is a very highlighted example and can vary greatly depending on your personal situation. Therefore, here is a great tool to help you figure out how much your net paycheck would be.
Plus budgeting on a just over $21 an hour wage is much different.
$28 an Hour Salary Calculator
Now, you get to figure out how much you make based on your hours worked or if you make a wage between $28.01-28.99.
This is super helpful if you make $28.13 or $28.85.
$28 an Hour Budget – Example
You are probably wondering can I live on my own making 28 dollars an hour? How much rent or mortgage payment can you afford on 28 an hour?
Using our Cents Plan Formula, this is the best-case scenario on how to budget your $28 per hour paycheck.
When using these percentages, it is best to use net income because taxes must be paid.
In this example, we calculated $28 an hour was $21.38 after taxes. That would average $3705 per month.
According to the Cents Plan Formula, here is the high-level view of a $28 per hour budget:
Basic Expenses of 50% = $1853
Save Money of 20% = $741
Give Money of 10% = $371
Fun Spending of 20% = $741
Debt of 0% = $0
Obviously, that is not doable for everyone. Even though you would expect your money to go further when you are making double the minimum wage. So, you have to be strategic in ways to decrease your basic expenses and debt. Then, it will allow you more money to save and fun spending.
To further break down an example budget of $28 per hour, then using the ideal household percentages is extremely helpful.
recommended budget percentages based on $28 per hour wage:
Category
Ideal Percentages
Sample Monthly Budget
Giving
10%
$437
Savings
15-25%
$971
Housing
20-30%
$1,141
Utilities
4-7%
$170
Groceries
5-12%
$323
Clothing
1-4%
$19
Transportation
4-10%
$170
Medical
5-12%
$243
Life Insurance
1%
$15
Education
1-4%
$24
Personal
2-7%
$73
Recreation / Entertainment
3-8%
$121
Debts
0% – Goal
$0
Government Tax (including Income Taxes, Social Security & Medicare)
15-25%
$1,148
Total Gross Income
$4,853
**In this budget, prioritization was given to basic expenses. Thus, some categories like giving and recreation were less.
Can I Live off $28 Per Hour?
At this $28 hourly wage, you are more than likely double the minimum wage. Things should be easy to live off this $28 hourly salary.
However, it is still slightly above $58000 per year. That means it can still be a tough situation.
Is it doable? Absolutely.
In fact, $28 an hour is higher than the median hourly wage of $19.33 (source). That seems backward, but typically salaried workers earn more per hour than hourly workers.
Can you truly live off $28 an hour annually?
You just have to have the desire to spend less than your income. Plus consistently save.
If you are constantly struggling to keep up with bills and expenses, then you need to break that constant cycle. It is possible to be smart with money.
You need to do is change your money mindset.
This is what you say to yourself… Okay, I have aspirations and goals to increase how much I make. This is the time to start diversifying my income into multiple streams and start investing. I am going to stretch my 28 dollars per hour.
In the next section, we will dig into ways to increase your income, but for now, is it possible to live on $28 an hour?
Yes, you can do it, and as you can see it is possible with the sample budget of $28 per hour.
Living in a higher cost of living area would be more difficult. So, you may have to get a little creative. For example, you might have to have a roommate. Move to a lower cost of living area where rent is cheaper.
Also, you must evaluate your “fun spending” items. Many of those expenses are not mandatory and will break your budget. You can find plenty of free things to do without spending money.
5 Ways to Increase Your Hourly Wage
This right here is the most important section of this post.
You need to figure out ways to increase your hourly income because I’m going to tell you…you deserve more. You do a good job and your value is higher than what your employers pay you.
Even an increase of 50 cents to $28.50 will add up over the year. Even better $29 an hour!
1. Ask for a Raise
The first thing to do is ask for a raise. Walk right in and ask for a raise because you never know what the answer will be until you ask.
If you want the best tips on how specifically to ask for a raise and what the average wage is for somebody doing your job, then check out this book. In this book, the author gives you the exact way to increase your income. The purchase is worth it or go down to the library and check that book out.
2. Look for A New Job
Another way to increase your hourly wage is to look for a new job. Maybe a completely new industry.
It might be a total change for you, but many times, if you want to change your financial situation, then that starts with a career change. Maybe you’re stressed out at work. Making $28 an hour is too much for you and you’re not able to enjoy life, maybe changing jobs and finding another job may increase your pay, but it will also increase your quality of life.
Start looking at these low stress jobs in retirement.
3. Find a New Career
Because of student loans, too many employees feel like they are stuck in the career field they chose. They feel sucked into the job that they don’t like or have the potential they thought it would.
For many years, I was in the same situation until I decided to do a complete career change. I am glad I did. I have the flexibility that I needed in my life to do what I wanted when I needed to do it. Plus I am able to enjoy my entrepreneurial spirit.
4. Find Alternative Ways to Make Money
In today’s society, you need to find ways to make more money. Period.
There is no way to get around it. You need to find additional income outside a traditional nine-to-five position or typical 40 hour a week job. You will reach a point where you are maxed on what you can make in your current position or title. There may be some advancement to move forward, but in many cases, there just is not much room for growth.
So, you need to find a side hustle – another way to make money.
Do something that you enjoy, turn your hobby into a way to make money, turn something that you naturally do, and help others into a service business. In today’s society, the sky is the limit on how you can earn a freelancing income.
Must Read: 20 Genius Ways on How to Make Money Fast
5. Earn Passive Income
The last way to increase your hourly wage is to start earning passive income.
This can be from a variety of ways including the stock market, real estate, online courses, book sales, etc. This is where the differentiation between struggling financially to becoming financially sound.
By earning money passively, you are able to do the things that you enjoy doing and not be loaded down, with having a job that you need to work, and a place that you have to go to. And you still make money doing nothing.
Here is an example:
You can start a brokerage account and start trading stocks for $50. You need to learn and take the one and only investing class I recommend. Learn how the market works, watch videos, and practice in a simulator before you start using your own money.
One gentleman started with $5,000 in his trading account and now has well over $36,000 in a year. Just from practice and being consistent, he has learned that passive income is the way for him to increase his income and also not be a slave to his job.
Watch his inspiring story!
Tips to Live on $28 an Hour
In this last section, grasp these tips on how to live on a $28 an hour or above $58k yearly salary. On our site, you can find lots of money saving tips to help stretch your income further.
Here are the most important tips to live on $28 an hour. More importantly stretch how much you make, in case you are in the “I don’t want to work anymore” mindset. Highlight these!
1. Spend Less Than you Make
First, you must learn to spend less than you make.
If not you will be caught in the debt cycle and that is not where you want to be. You will be consistently living paycheck to paycheck.
In order to break that dreadful cycle, it means your expenses must be less than your income.
And when I say income, it’s not the $28 an hour. As we talked about earlier in the post, there are taxes. The amount of taxes taken out of your paycheck is called your net income which is $28 an hour minus all the taxes, FICA, Social Security, and Medicare are taken out. That is your net income.
So, your net income has to be less than your gross income.
2. Living Below Your Means
You need to be happy. And living on less can actually make you happier. Studies prove that less is better.
Finding contentment in life is one thing that is a struggle for most.
We are driven to want the new shiny toy, the thing next door, the stuff your friend or family member got. Our society has trained you that you need these things as well.
Have you ever taken a step back and looked at what you really need?
Once you are able to find contentment with life, then you are going to be set for the long term with your finances.
Here is our story on owning less stuff. We have been happier since.
3. Make Saving Money Fun
You need to make saving money fun. If you’re good, since you must keep your expenses low, you have to find ways to make your savings fun!
Find new ways of saving money and have fun with it.
Even better, get your family and kids involved in the challenge to save money. Tell them the reason why you are saving money and this is what you are doing.
Here are 101 things to do with no money. Free activities without costing you a dime. That is an amazing resource for you and you will never be bored.
And you will learn a lot of things in life you can do for free. Personally, some of the best ones are getting outside and enjoying some fresh air.
4. Make More Money
If you want if you do not settle for less, then find ways to make more money. If you want more out of life, then increase your income.
You need to be an advocate for yourself.
Find ways to make more money.
It could be a side hustle, a second job, asking for a raise, going to school to change careers, or picking up extra hours.
Whatever path you take, that’s fine. Just find ways to make more money. Period.
5. No State Taxes
Paying taxes is one option to increase what you take home in each paycheck.
These are the states that don’t pay state income taxes on wages:
Alaska
Florida
Nevada
New Hampshire
South Dakota
Tennessee
Texas
Washington
Wyoming
It is very interesting if you take into account the amount of state taxes paid compared to a state with income taxes.
Also, if you live in one of the higher taxed states, then you may want to reconsider moving to a lower cost of living area. The higher taxes income tax states include California, Hawaii, New Jersey, Oregon, Minnesota, the District of Columbia, New York, Vermont, Iowa, and Wisconsin. These states tax income somewhere between 7.65% – 13.3%.
6. Stick to a Budget
You need to learn how to start a budget. We have tons of budgeting resources for you.
While creating a budget is great, you need to learn how to use one.
You do not have to budget down to every last penny.
You need to make sure your expenses are less than your income and that you are creating sinking funds for those irregular expenses.
Budget Help:
7. Pay Off Debt Quickly
The amount that you pay interest on debt is absolutely absurd.
Unfortunately, that is how many of these companies make their money from the interest you pay on debt.
If you are paying 5% to even 20-21% or higher, you need to find ways to lower that debt quickly.
Here’s a debt calculator to help you. Figure out your debt-free date.
Make that paying off debt fast is your target and main focus. I can tell you from personal experience, that it was not until we paid off our debt that we finally rounded the corner financially. Once our debt was paid off, we could finally be able to save money. Set money aside in separate bank accounts and pay for cash for things.
It took us working hard to pay off debt. We needed persistence and patience while we had setbacks in our debt-free journey.
Jobs that Pay $28 an Hour
You can find jobs that pay $28 per hour. Polish up that resume, cover letter, and interview skills.
Job Search Hint: Always send a written follow-up thank you note for your interview. That will help you get noticed and remembered.
First, look at the cities that require a minimum wage in their cities. That is the best place to start to find jobs that are going to pay higher than the federal minimum wage rate. Many of the cities are moving towards this model so, target and look for jobs in those areas.
Possible Ideas:
Virtual Assistant – Get free training NOW!
Freelance writer
Class A Truck Driver
Managers
Entry Level Marketing Jobs
Data Entry Clerks
Customer service managers
Bank tellers
Maintenance workers
Freight broker – Learn how easy it is to start!
Administrative assistants
Athletic Trainers
Event Planners
Day trader
Security guard
Movers
Cashiers
Warehouse workers
Companies that pay more than $28 per hour: Wells Fargo, Disney World, Disney Land, Bank of America, Cigna, Aetna, etc
$28 Per Hour Annual Salary
In this post, we detailed 28 an hour is how much a year. Plus all of the variables that can impact your net income. This is something that you can live off.
How much is 28 dollars an hour annually…
$58,240
This is right between $58000 per year and $59k a year. In this post, we highlighted ways to increase your income as well as tips for living off your wage.
Use the sample budget as a starting point with your expenses.
You will have to be savvy and wise with your hard-earned income. But, with a plan, anything is possible!
Still thinking I don’t want to work anymore, you aren’t alone and need to start to plan for your early retirement.
Learn exactly how much do I make per year…
Know someone else that needs this, too? Then, please share!!
Did the post resonate with you?
More importantly, did I answer the questions you have about this topic? Let me know in the comments if I can help in some other way!
Your comments are not just welcomed; they’re an integral part of our community. Let’s continue the conversation and explore how these ideas align with your journey towards Money Bliss.
At Inman Connect Las Vegas, July 30-Aug. 1, 2024, the noise and misinformation will be banished, all your big questions will be answered, and new business opportunities will be revealed. Join us.
Mortgage rates retreated from 2024 highs for the third week in a row and were headed below 7 percent after Wednesday’s release of two reports showing the economy cooled in April, potentially giving Federal Reserve policymakers an incentive to cut rates sooner rather than later.
A key inflation gauge, the Consumer Price Index (CPI), showed prices for a broad range of goods were up 3.4 percent in April from a year ago, down from 3.5 percent in March. It was the first downward move in annual price growth since January.
Core CPI, which excludes volatile food and energy prices and can be a better predictor of inflation trends, was up 3.6 percent in April from a year ago, an improvement from 3.8 percent annual growth in March.
A separate Census Bureau report released Wednesday showed retail and food services sales were slower than expected in April.
“The smallest increase in the core CPI since December will reassure the Fed that monetary policy is tight enough to bring inflation eventually back to the 2 percent target, though the run rate still needs to slow further to trigger rate cuts, unless payrolls tank first,” Pantheon Macroeconomics Chief Economist Ian Shepherdson said in a note to clients.
Futures markets tracked by the CME FedWatch tool on Wednesday put the odds of one or more Fed rate cuts by Sep. 18 at 73 percent, up from 65 percent on Tuesday.
Yields on 10-year Treasurys, a barometer for mortgage rates, dropped 10 basis points after the data releases and are now down nearly 40 basis points from a 2024 high of 4.74 percent registered April 25.
Mortgage rates retreat from 2024 highs
Data tracked by Optimal Blue lags by a day but shows that even before Wednesday’s news rates on 30-year fixed-rate mortgages had dropped to an average rate of 7.00 percent Tuesday — down 27 basis points from the 2024 high of 7.27 percent recorded on April 25.
A same-day index compiled by Mortgage News Daily (MND) showed rates on 30-year fixed-rate mortgages dropping 12 basis points Wednesday, to 6.99 percent.
If Optimal Blue’s survey shows a similar drop when data is released Thursday, that would mean homebuyers were able to lock contracted rates on 30-year fixed-rate loans at below 6.9 percent on Wednesday.
The rates reported by MND are higher than Optimal Blue’s because the MND index is adjusted to estimate the effective rate borrowers are offered, regardless of what points they’re willing to pay. Optimal Blue uses contracted rates provided for rate locks, even if borrowers have paid points to get a lower rate.
With inventories in many markets still scarce, homebuyers have yet to come out in force in response to lower rates.
After picking up by 2 percent during the week ending May 3, applications for purchase loans fell by a seasonally adjusted 2 percent last week compared to the week before, according to a weekly survey by the Mortgage Bankers Association.
Last week’s decline in rates “led to a small boost to refinance applications, including another strong week for VA refinances,” MBA Deputy Chief Economist Joel Kan said, in a statement.
The drop in purchase loan applications was driven largely by a 9 percent drop in FHA purchase applications, Kan said, compared to a 1 percent drop in applications for conventional loans eligible for purchase by Fannie Mae and Freddie Mac.
Joel Kan
“While the downward move in rates benefits prospective homebuyers, mortgage rates are still much higher than they were a year ago, while for-sale inventory remains tight,” Kan said.
Compared to a year ago, purchase loan applications were down 14 percent, while requests to refinance were up 7 percent.
Inventories are less of an issue for new-home buyers, and even as rates climbed in April, mortgage applications for new home purchases were up 22.1 percent from a year ago, a separate MBA survey showed.
Based on loan applications submitted to homebuilders’ mortgage subsidiaries, the MBA estimates that new homes were selling at a seasonally adjusted annual rate of 699,000 units in April, up nearly 14 percent from March.
“There continues to be healthy demand for new homes, given greater availability and other benefits over existing home purchases such as builder concessions and customization options,” Kan said. “First-time homebuyers account for a growing share of purchase applications with the FHA share of applications at 26.3 percent in April.”
Inflation moderated in April
Last year inflation, particularly core CPI, was consistently trending down, raising hopes that the Fed might cut interest rates in time for the spring homebuying season.
But a string of hot inflation reports in March and April sent mortgage rates rebounding to new 2024 highs — sparking speculation that the Fed might not only keep rates higher for longer but, eventually, be forced to raise rates to bring inflation under control.
However, Fed policymakers have always said that it would take time for the 11 rate increases implemented from March 2022 through July 2023 to have an effect on the economy. Those rate hikes brought the short-term federal funds rate to a target of between 5.25 percent and 5.5 percent — the highest level since 2001.
At their May 1 meeting, Fed officials took a subtle step toward easing by dialing back the pace of “quantitative tightening” — an unwinding of the central bank’s $7 trillion balance sheet — to $40 billion a month, less than half the pace envisioned two years ago.
Two days later, with mortgage rates already retreating from 2024 highs, a surprisingly soft April jobs report from the Labor Department accelerated the pullback in rates, as bond market investors who fund most mortgages reassessed the likelihood of Fed rate cuts.
The latest CPI report is additional evidence that the economy is cooling, and inflation is trending down.
Ian Shepherdson
“Looking ahead, the case for expecting a further slowdown in core CPI inflation remains compelling,” Shepherdson said. “Supply chains have normalized, wage growth is weakening, and corporate margins are flat but still hugely elevated, indicating clear scope to fall ahead. At the same time, global food and energy prices remain unthreatening, and rent inflation for new tenants remains subdued.”
Shepherdson thinks the foundations are in place for further deceleration in core CPI this summer, allowing the Fed to start easing in September — or as early as July, if job growth continues to decelerate as quickly as implied by National Federation of Independent Business (NFIB) surveys.
But Nigel Green, CEO of Dubai-based deVere Group, issued a more hawkish view, warning that investors are “indulging in wishful thinking on Fed rate cuts” this year.
Nigel Green
“Super cautious Fed officials will need to see several consecutive months of evidence showing inflation — which is proving far stickier than had been hoped — is really heading back to the 2 percent target before they consider a pivot on monetary policy,” Green said in a statement. “As such, we still expect there’s a considerable risk that they will not feel comfortable about cutting rates before 2025.”
The Federal Reserve’s preferred inflation gauge, the personal consumption expenditures (PCE) price index, is closer to reaching the Fed’s 2 percent inflation target than CPI, registering 2.7 percent in March.
While the March PCE print was up from 2.5 percent in February, the next PCE data release on May 31 could provide more downward momentum for mortgage rates — or send them rebounding again.
Get Inman’s Mortgage Brief Newsletter delivered right to your inbox. A weekly roundup of all the biggest news in the world of mortgages and closings delivered every Wednesday. Click here to subscribe.
Nestled along the picturesque Connecticut River, Holyoke, MA boasts a rich industrial history and easy access to the great outdoors. With its stunning Victorian architecture, vibrant downtown area, and an abundance of green spaces, Holyoke offers a unique blend of urban amenities and small-town charm. Residents here enjoy a close-knit community, diverse dining options, and easy access to outdoor recreational activities. Whether you’re looking for an apartment in Holyoke or a spacious house to rent, there’s a place for everyone here.
In this Apartment Guide article, we’ll cut to the chase, breaking down the pros and cons of moving to Holyoke. Let’s get started and see what awaits in this gem of a city.
Pro: Affordable cost of living
One of the major advantages of living in Holyoke is its affordable cost of living. The city offers reasonably priced housing options, making it an attractive destination for individuals and families looking to settle down without breaking the bank. The average rent for a 2 bedroom apartment is $734. This is much lower than the national average rent of $1,987. Additionally, the overall cost of goods and services in Holyoke is relatively lower compared to other cities in Massachusetts, allowing residents to enjoy a comfortable lifestyle without the financial strain.
Con: Limited job opportunities
One of the challenges of living in Holyoke is the limited job opportunities available within the city. While the area has a strong industrial history, the job market may not offer as many diverse career options compared to larger metropolitan areas. Major employers in Holyoke include the colleges and universities in the area as well as the Holyoke Medical Center. Residents may need to commute to neighboring cities for employment opportunities, which can impact work-life balance and daily routines.
Pro: Access to outdoor recreation
Residents of Holyoke have easy access to outdoor recreational opportunities. The city is situated near the scenic Mount Tom State Reservation, offering hiking trails, picnic areas, and stunning views of the Connecticut River Valley. The nearby Holyoke Range State Park provides additional opportunities for outdoor enthusiasts to engage in activities such as mountain biking, birdwatching, and nature exploration. The abundance of green spaces and natural beauty enhances the quality of life for residents.
Con: Harsh winters
Holyoke experiences harsh winters, with cold temperatures and significant snowfall during the winter months. On average, the city gets more than 4 feet of snow annually. The inclement weather conditions can pose challenges for residents, including snow removal, icy roadways, and seasonal maintenance. While the city embraces the winter season with outdoor activities and festive events, the prolonged cold weather may not be suitable for individuals who prefer milder climates.
Pro: Diverse culinary scene
Holyoke boasts a diverse culinary scene, with a wide range of dining options to suit every palate. From authentic Puerto Rican cuisine at El Chinchorro Boricua to trendy cafes and international restaurants, residents can indulge in a variety of culinary experiences. The city’s food festivals and farmers’ markets also contribute to the vibrant food culture, allowing residents to savor fresh, locally sourced ingredients and support the community’s culinary entrepreneurs.
Con: Limited nightlife options
Residents seeking a vibrant nightlife scene may find that Holyoke offers limited options for evening entertainment. While the city has local bars, pubs, and cultural venues, the nightlife may not be as bustling as in larger urban centers. Individuals looking for a bustling nightlife with a wide array of late-night activities may need to explore neighboring cities for additional options.
Pro: Rich cultural heritage
Holyoke is steeped in history and boasts a rich cultural heritage. The city is home to the Wistariahurst Museum, a historic house museum that offers a glimpse into the area’s past. Residents can also explore the Holyoke Canal System, a National Historic Landmark, and learn about the city’s industrial history. The vibrant arts scene, including the Holyoke Creative Arts Center and Paper City Studios, provides ample opportunities for residents to engage with and appreciate the local culture.
Con: Limited retail and shopping options
While Holyoke offers a variety of local businesses and specialty stores, the city may have limited chain retail and shopping options compared to larger commercial centers. Residents seeking extensive shopping malls, major retail chains, or luxury boutiques may need to travel to nearby cities for a broader selection of consumer goods. The limited retail landscape may impact the convenience and variety of shopping experiences for residents.
Pro: Educational opportunities
Holyoke is home to educational institutions such as Mount Holyoke College, Holyoke Community College, and the Massachusetts Green High Performance Computing Center, providing residents with access to diverse learning opportunities and resources. The city’s commitment to education is evident through initiatives that support lifelong learning, workforce development, and academic enrichment, making it an ideal place for individuals seeking personal and professional growth.
Con: Limited cultural amenities
While Holyoke has a rich cultural heritage, the city may have limited cultural amenities compared to larger metropolitan areas. Residents seeking a wide array of museums, performing arts centers, and cultural institutions may find that Holyoke’s cultural offerings are more modest in scale. Individuals with a strong interest in diverse cultural experiences may need to explore nearby cities to fulfill their cultural pursuits.
Pro: Convenient transportation options
Holyoke provides convenient transportation options for residents, including access to public transit, bike-friendly infrastructure, and walkable neighborhoods. The city’s proximity to major highways and rail lines facilitates easy commuting to neighboring areas, while the PVTA bus system offers reliable and accessible public transportation within the city and beyond. Additionally, the development of pedestrian-friendly pathways and bike lanes promotes sustainable and active modes of transportation.
Welcome to the charming city of Tacoma, Washington, where the stunning natural beauty meets a thriving urban landscape. With its picturesque waterfront, vibrant arts scene, and diverse neighborhoods, Tacoma offers a unique blend of outdoor adventure and cultural experiences. Residents here enjoy a laid-back lifestyle, with easy access to hiking trails, parks, and the arts. So whether you’re searching for the perfect apartment in downtown Tacoma or eyeing a house for rent in the suburbs, you’ve come to the right place.
In this Apartment Guide article, we’ll cut to the chase, breaking down the pros and cons of moving to Tacoma. Let’s get started and see what awaits in this vibrant city by the bay.
Pros of moving to Tacoma
1. Scenic beauty
Tacoma is surrounded by breathtaking natural beauty, with stunning views of Mount Rainier and the Puget Sound. Residents can enjoy outdoor activities such as hiking, kayaking, and beachcombing, all within close proximity to the city. The abundance of green spaces and parks also provides a serene and picturesque backdrop for those who appreciate the great outdoors. Point Defiance Park is a beloved spot for locals to enjoy hiking trails, beaches, and a marina.
2. Thriving arts scene
Tacoma boasts a vibrant arts community, with numerous galleries, museums, and theaters showcasing local talent and international works. The Museum of Glass, Tacoma Art Museum, and Tacoma Arts Live are just a few of the cultural institutions that contribute to the city’s rich artistic landscape. Residents can immerse themselves in diverse art forms, from glassblowing demonstrations to contemporary art exhibitions, making Tacoma a haven for art enthusiasts.
3. Affordable cost of living
Compared to other cities in the Pacific Northwest, Tacoma offers a more affordable cost of living, making it an attractive option for those seeking a balance between urban amenities and financial stability. Housing prices and rental rates are relatively lower, allowing residents to enjoy a comfortable lifestyle without breaking the bank. The average rent for a 2 bedroom apartment in Tacoma is only $1,820, which is considerably lower than the $2,855 average in nearby Seattle. The city’s affordability makes it an appealing choice for individuals and families looking to settle down without sacrificing quality of life.
4. Culinary diversity
Tacoma’s culinary scene is a melting pot of flavors, with a wide array of restaurants, food trucks, and eateries representing diverse cuisines from around the world. Vien Dong and The Church Cantina are popular spots featuring international cuisine. From farm-to-table dining experiences to fresh seafood, residents can indulge in a gastronomic adventure without leaving the city.
5. Strong sense of community
Tacoma prides itself on its strong sense of community, with residents actively participating in local events, volunteer opportunities, and neighborhood initiatives. The city’s close-knit neighborhoods foster a supportive and inclusive environment, where neighbors come together to celebrate cultural diversity, promote sustainability, and address social issues. This communal spirit creates a welcoming and engaging atmosphere for those who call Tacoma home.
6. Access to higher education
Tacoma is home to several reputable institutions of higher education, including the University of Washington Tacoma and Pacific Lutheran University. This provides residents with access to quality educational opportunities and cultural resources, enriching the intellectual and academic landscape of the city. Students and lifelong learners alike can benefit from the diverse academic programs and research initiatives offered within Tacoma’s educational institutions.
7. Proximity to Seattle
Located just 30 miles south of Seattle, Tacoma offers residents the convenience of easy access to the amenities and opportunities of a major metropolitan area. Whether it’s for work, entertainment, or cultural experiences, the close proximity to Seattle allows Tacoma residents to enjoy the best of both worlds, with the option to explore the bustling city life while returning to the tranquility of Tacoma at the end of the day.
Cons of moving to Tacoma
1. Seismic activity risks
As part of the Pacific Ring of Fire, the Pacific Northwest, including Tacoma, is susceptible to seismic activity and potential earthquake risks. While the city has measures in place to mitigate these risks, including building codes and emergency preparedness initiatives, the possibility of earthquakes remains a concern for some residents. This natural hazard may be a consideration for those evaluating Tacoma as a place to live.
2. Limited job market
While Tacoma offers a variety of employment opportunities, the job market may be perceived as more limited compared to larger metropolitan areas. Certain industries and career fields may have fewer prospects, leading some residents to seek employment outside of the city. This can present challenges for individuals looking for specific career paths or professional growth within Tacoma.
3. Urban sprawl and development pressures
Tacoma is experiencing urban sprawl and development pressures, which can impact the city’s character and natural landscapes. The balance between growth and preservation is an ongoing conversation, with concerns about maintaining the city’s unique identity while accommodating population growth and infrastructure needs. Residents may have differing perspectives on the pace and scale of development within Tacoma.
4. Rainy climate
Tacoma experiences a relatively high amount of rainfall throughout the year, which may not be appealing to those who prefer drier and sunnier weather. The city’s maritime climate brings overcast skies and drizzly days, which can be a challenge for individuals seeking a more consistent and predictable climate.
5. Limited public transportation options
While Tacoma is working to expand its public transportation system, the current options may be considered limited compared to larger cities. Reliance on personal vehicles is common, and those who prefer public transit may find the existing routes and schedules to be less comprehensive than desired. This can pose challenges for individuals seeking alternative transportation methods.
Applying for a credit card as an international student in the United States can be challenging — but it’s not impossible. And if you plan to stay in the U.S. after you graduate, having an established credit history through an international student credit card can be instrumental as you start the next phase of your life, from getting a job to buying a car or a house.
Wondering how to get a credit card as an international student? Our guide will walk you through the typical requirements, and the steps for an international student to apply for a credit card.
Recommended: What is a Charge Card
Benefits of Having a Credit Card as an International Student
Getting a credit card as an international student can have a number of benefits:
• Spending with ease: When you’re attending college in the U.S., you’ll have to pay more than tuition. Having a U.S. credit card can make it easier to pay for monthly expenses like groceries and entertainment. Even if you have a credit card issued in your home country, getting a card from a U.S.-based credit card issuer can be a good idea; cards from other countries might charge foreign transaction fees here in the States.
• Establishing credit in the U.S.: International students in the United States likely do not yet have a U.S. credit score. Having a credit history is important for things like applying for a job, getting approved to rent a home, and buying a car. If you plan to remain in the United States after graduation, establishing credit history as a student with a credit card can be a good idea.
• Learning how to manage credit: Whether you plan to remain in the United States after graduation or return home, learning how to use a credit card responsibly can be an important lesson. As a student with fewer bills, now might be a good time to learn how credit cards work and get used to the monthly payments and interest rates.
Recommended: Can International Students Get Student Loans in the U.S.?
Disadvantages of Having a Credit Card as an International Student
Applying for an international student credit card can also have its drawbacks:
• Difficult requirements: Getting a credit card as an international student is usually more challenging than it is for U.S. citizens. Students who are already overwhelmed by a new place with a new culture — plus their challenging curriculum — may not have the time or energy to apply for a credit card.
• No effect on credit score back home: Getting a credit card from a U.S. credit card issuer is a good step toward establishing a credit history in the United States. Students who plan to return to their home countries after college, however, will not see a benefit to their credit scores back home by using a U.S.-issued card.
Typical Credit Card Requirements for International Students
So can an international student get a credit card? Yes — but they may have a harder time than the average U.S. student.
Typically, you will need a Social Security number (SSN) to apply for a credit card. Some issuers may accept an Individual Taxpayer Identification number (ITIN), which can be easier for international students to obtain. While most credit cards will require a SSN or ITIN, you might be able to find a credit card issuer that only requires a passport.
Applying for a Social Security Number
Even if you are not a U.S. citizen, you may be able to apply for a Social Security number. For example, if you have an F-1 student visa (or another type of student visa), you might be eligible to apply, though you may need to have a part-time job and receive the proper authorization first.
Review the Social Security Administration’s guidelines , and don’t be afraid to ask a member of your school’s international student office for assistance. The advisors there are likely well-versed in common international student challenges, including applying for a Social Security number.
If you are having trouble getting a Social Security number, try instead to get an ITIN through the IRS. The IRS offers guidelines for obtaining an ITIN as a foreign student, but again, your international student office can likely walk through the process with you.
Applying for Credit Cards
Once you’ve gotten a Social Security number (or an ITIN), you may be wondering, how can an international student get a credit card? Start by looking for relevant credit card offers. Many credit card issuers offer cards specifically targeted at students.
Note that you will need to provide a permanent address for your application. You can use your U.S.-based school address for this field.
Recommended: Does Applying For a Credit Card Hurt Your Credit Score
Tips for Avoiding Credit Card Rejections as an International Student
Because nobody likes rejection — and because multiple hard inquiries for credit card applications might eventually take a toll on your credit score — it’s important to avoid credit card rejections. Here are some tips for improving your chances of approval:
• Open a bank account. Having a checking or savings account can improve your success rate. It also simplifies money management while you’re here in the States.
• Get a part-time job. Having a job might be a requirement to get your Social Security number. Having a steady income is a sign to creditors that you are reliable enough to lend money to. Just check with your advisor to ensure you are allowed to seek employment as an international student.
• Consider a secured credit card. Secured credit cards require a security deposit, often equal to the credit limit for the card in question. Because these cards are backed by collateral, they pose less risk to the credit card issuer and thus make it easier for those with bad or no credit to get approved. After you use your secured credit card responsibly for several months, you might have a strong enough credit score to apply for an unsecured card. Just make sure the card issuer reports usage of the secured card to the credit bureaus to ensure an impact to your score.
Recommended: When Are Credit Card Payments Due
Using a Credit Card Responsibly
Responsible credit card usage is a good way to improve your credit score. When you get your international student credit card, be sure to follow our general credit card rules to improve your chances of raising your credit score.
In general, responsible credit card usage entails:
• Avoiding impulse purchases.
• Signing up for automatic payments.
• Regularly checking your statements.
Paying your card off in full each month and maintaining a low credit utilization — meaning the amount of credit you’re currently using compared to the total credit you have available — are good ways to build a solid credit history. Following these guidelines can also help you to avoid some of the costs of credit cards, such as late payment fees and interest charges.
Recommended: Tips for Using a Credit Card Responsibly
The Takeaway
International students can apply for a credit card while studying here in the United States. Doing so can allow you to establish a credit history in the U.S. and spend money more easily during your time here. Applying for an international student credit card is more complicated, however, and typically requires a Social Security number or Individual Taxpayer Identification number.
Are you looking for the right credit card during your time in the U.S.? You might consider getting a credit card through SoFi.
The SoFi Credit Card offers unlimited 2% cash back on all eligible purchases. There are no spending categories or reward caps to worry about.1
Take advantage of this offer by applying for a SoFi credit card today.
FAQ
What is a good credit card interest rate for international students?
Interest rates will vary by credit card, but some of the best international student credit cards offer APRs between 13% and 29%.
Do I need a Social Security number to open a credit card?
Having a Social Security number is a common requirement for opening a credit card, but many issuers will accept an Individual Taxpayer Identification number instead. Some credit card issuers may even accept only a passport for the credit card application.
Do international students have to use a secured credit card?
International students may have an easier time getting approved for a secured credit card, but it is not the only option. If a student has an established credit history in the United States, they might be able to get approved for a specific unsecured credit card designed for students. Some cards might even offer basic rewards.
1See Rewards Details at SoFi.com/card/rewards.
External Websites: The information and analysis provided through hyperlinks to third-party websites, while believed to be accurate, cannot be guaranteed by SoFi. Links are provided for informational purposes and should not be viewed as an endorsement.
Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.
The SoFi Credit Card is issued by SoFi Bank, N.A. pursuant to license by Mastercard® International Incorporated and can be used everywhere Mastercard is accepted. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.
1Members earn 2 rewards points for every dollar spent on purchases. No rewards points will be earned with respect to reversed transactions, returned purchases, or other similar transactions. When you elect to redeem rewards points into your SoFi Checking or Savings account, SoFi Money® account, SoFi Active Invest account, SoFi Credit Card account, or SoFi Personal, Private Student, or Student Loan Refinance, your rewards points will redeem at a rate of 1 cent per every point. For more details please visit the Rewards page. Brokerage and Active investing products offered through SoFi Securities LLC, member FINRA/SIPC. SoFi Securities LLC is an affiliate of SoFi Bank, N.A.
Welcome to the sun-kissed paradise of Palm Springs, CA, where the desert landscape meets luxurious relaxation. With its iconic mid-century modern architecture, world-class golf courses, and stunning mountain views, Palm Springs offers a unique blend of natural beauty and modern elegance. Whether you’re drawn to the vibrant arts scene, the renowned spas and resorts, or the outdoor adventures in the nearby Joshua Tree National Park, this city has something for everyone. So whether you’re searching for the perfect apartment in Palm Springs or eyeing a larger house for rent in the surrounding neighborhoods, you’ve come to the right place.
In this Apartment Guide article, we’ll cut to the chase, breaking down the pros and cons of moving to Palm Springs, CA. Let’s get started and see what awaits in this desert oasis.
Pros of living in Palm Springs, CA
1. Beautiful weather all year round
Palm Springs boasts a warm and sunny climate throughout the year, making it an ideal destination for those who enjoy outdoor activities and a relaxed lifestyle. With an average of 350 days of sunshine annually, residents can take advantage of the city’s beautiful weather by engaging in activities such as golfing, hiking, and lounging by the pool. The dry desert climate also contributes to the city’s reputation as a wellness destination, attracting visitors and residents alike seeking the benefits of the warm, dry air.
2. Vibrant arts and culture scene
Palm Springs is home to a thriving arts and culture scene, with numerous art galleries, museums, and cultural events that showcase the city’s creative spirit. The Palm Springs Art Museum features a diverse collection of contemporary and classic art, while the city’s annual Modernism Week celebrates its mid-century modern architecture and design. Residents can also enjoy live performances at the Palm Springs International Film Festival and the Coachella Valley Music and Arts Festival, adding to the city’s vibrant cultural landscape.
3. Outdoor recreational opportunities
With its stunning natural surroundings, Palm Springs offers a wide range of outdoor recreational opportunities for residents to enjoy. From hiking in the nearby San Jacinto Mountains to exploring the Indian Canyons and the Joshua Tree National Park, outdoor enthusiasts will find plenty of options to stay active and connect with nature. The city’s proximity to the Coachella Valley also provides access to world-class golf courses, tennis facilities, and equestrian activities, catering to a variety of interests.
4. Unique architectural heritage
Palm Springs is renowned for its distinctive mid-century modern architecture, characterized by clean lines, open floor plans, and indoor-outdoor living spaces. The city’s residential neighborhoods and commercial buildings showcase iconic examples of this architectural style, attracting enthusiasts and historians from around the world. Residents have the opportunity to live in or visit these architectural gems, contributing to the city’s unique and visually appealing environment.
5. Abundance of luxury resorts and spas
As a premier resort destination, Palm Springs offers residents access to a wide array of luxury resorts and spas, providing opportunities for relaxation and rejuvenation. From world-class hotels with stunning pools and wellness amenities to exclusive spa retreats offering a range of treatments and services, residents can indulge in the city’s luxurious offerings. The Murrietta Hot Springs Resort is a highlight. Whether for a weekend getaway or a regular self-care routine, the abundance of options adds to the city’s appeal as a desirable place to live.
6. Diverse dining and culinary experiences
Palm Springs boasts a diverse culinary scene, with a wide range of dining options that cater to various tastes and preferences. From upscale restaurants offering fine dining experiences to casual eateries serving international cuisine, residents can explore a multitude of flavors and culinary traditions. The city’s Food and Wine Festival, farmers’ markets, and local culinary events further contribute to the rich gastronomic landscape, providing residents with ample opportunities to savor the best of Palm Springs’ dining scene.
7. Active retirement community
Palm Springs has established itself as a popular retirement destination, attracting active adults seeking a vibrant and engaging lifestyle. The city’s retirement communities and senior living options offer a range of amenities and activities tailored to the needs and interests of older residents. From golf communities with championship courses to social clubs and wellness programs, retirees can find a supportive and active environment that enhances their quality of life in Palm Springs.
Cons of living in Palm Springs, CA
1. High cost of living
One of the drawbacks of living in Palm Springs is the relatively high cost of living, particularly in terms of housing and real estate. The average rent for a 2 bedroom apartment is $2,284, higher than the national average of $1,987. The city’s desirable location and amenities contribute to property values and rental prices that may be out of reach for some residents. Additionally, the cost of goods and services in the area can be higher compared to other cities, impacting the overall affordability for individuals and families.
2. Limited public transportation options
Palm Springs has limited public transportation options, which can pose challenges for residents who rely on alternative modes of transportation. Palm Springs has a transit score of 30 so while the city offers some bus routes and a free trolley service in the downtown area, the overall public transit infrastructure may not fully meet the needs of all residents. This can result in increased reliance on personal vehicles and limited accessibility for those without access to private transportation.
3. Seasonal tourism impact
As a popular tourist destination, Palm Springs experiences seasonal fluctuations in population and activity, which can impact the daily life of residents. The influx of visitors during peak tourist seasons may lead to crowded public spaces, increased traffic, and higher demand for services, affecting the overall livability of the city. Residents may need to adapt to these seasonal changes and plan accordingly to navigate the ebb and flow of tourism in Palm Springs.
4. Limited job market and career opportunities
While Palm Springs offers a desirable lifestyle, the city’s job market and career opportunities may be limited in certain industries. The local economy is heavily reliant on tourism, hospitality, and service-related sectors, which may not align with the professional aspirations of all residents. Those seeking diverse employment options or specialized career paths may find it challenging to secure suitable opportunities within the city, leading to potential career limitations.
5. Extreme summer temperatures
Palm Springs experiences extreme summer temperatures, with high heat and dry conditions that can be challenging for some residents. The desert climate can result in prolonged periods of intense heat, reaching the low to mid 100 degree temperatures during the peak of summer. While the warm weather is appealing to many, the extreme heat may pose health risks and discomfort for individuals who are sensitive to high temperatures, requiring careful adaptation and preparation during the summer months.
6. Limited educational institutions
Palm Springs has a limited number of educational institutions, particularly in terms of higher education and specialized academic programs. While the city offers primary and secondary schools, as well as community college options, residents seeking advanced degrees or specific fields of study may need to consider commuting to nearby areas for educational opportunities. This can impact the accessibility and diversity of academic pursuits for individuals and families residing in Palm Springs.
7. Water scarcity and conservation concerns
As a desert city, Palm Springs faces water scarcity and conservation concerns, which can impact the local environment and lifestyle. The region’s reliance on water resources for landscaping, agriculture, and residential use requires a concerted effort towards sustainable water management. Residents may need to adhere to water conservation measures and contribute to ongoing efforts to preserve and protect the natural resources of the area, addressing the challenges associated with water scarcity in Palm Springs.
Located in the foothills of the Blue Ridge Mountains, Greenville offers a mix of Southern charm, outdoor adventures, and a dynamic cultural scene. With its exciting downtown, complete with a stunning waterfall park right in the heart of the city, Greenville offers a unique blend of natural beauty and urban convenience. From biking on the Swamp Rabbit Trail to exploring the arts at the Greenville County Museum of Art, there’s always something new and exciting to discover. This has many people wondering, “Should I move to Greenville?” Join us as we explore the pros and cons of living in Greenville to help you deicide if this enchanting city is the right place for you. Let’s go.
Greenville at a Glance
Walk Score: 43 | Bike Score: 39 | Transit Score: 19
Median Sale Price: $435,000 | Average Rent for 1-Bedroom Apartment: $1,300
Greenville neighborhoods | Houses for rent in Greenville | Apartments for rent in Greenville | Homes for sale in Greenville
Pro: Thriving downtown area
Greenville’s downtown is a hub of activity, characterized by vibrant streetscapes, diverse culinary scene, and cultural attractions. Main Street in downtown Greenville is lined with charming boutiques, art galleries, and restaurants, providing residents with endless opportunities for shopping, dining, and entertainment. Additionally, the Peace Center for the Performing Arts hosts a variety of live performances, including Broadway shows, concerts, and dance performances. The bustling downtown area also hosts community events and festivals throughout the year, further enhancing the appeal of Greenville’s urban core.
Con: Hot and humid summers
Summers in Greenville can be oppressively hot and humid. Temperatures often soar, making outdoor activities less enjoyable during these months. Additionally, the high humidity levels can lead to an increase in mold and mildew, which requires homeowners to take extra care in maintaining their properties. The combination of heat and humidity can make air conditioning a necessity rather than a luxury for some residents, especially for those not accustomed to such conditions.
Pro: Access to outdoor activities
The city’s location offers easy access to outdoor activities. The nearby Blue Ridge Mountains provide opportunities for hiking, biking, and camping. Meanwhile, lakes and rivers in the area offer boating, fishing, and water sports. Additionally, locals have access to Falls Park on the Reedy – a natural oasis in the heart of the city. The park features the stunning Liberty Bridge, which offers views of the waterfalls. It’s a perfect spot for picnics, walks, and outdoor activities. The park’s beauty and accessibility make it a cherished spot among residents.
Con: High pollen count
Spring in Greenville brings a high pollen count, which can affect those with allergies. The abundance of trees and green spaces, while beautiful, can make this season uncomfortable for sufferers. It’s a significant consideration for people moving to the area or those spending a lot of time outdoors.
Pro: Exciting culinary scene
Greenville’s culinary scene is diverse and thriving, with an emphasis on farm-to-table dining. Restaurants offer a variety of cuisines, from traditional Southern to international flavors. Local favorites include Soby’s New South Cuisine, which serves Southern-inspired dishes, and the food trucks at Gather GVL, an outdoor food court. The annual Euphoria festival further showcases the city’s food culture, drawing chefs and foodies from across the country.
Con: Limited public transportation options
With a Transit Score of 19, many locals find Greenville’s public transportation system limited. The bus service has restricted routes and schedules which can be inconvenient and challenging for those without a car. This limitation affects daily commutes and accessibility to certain parts of the city, highlighting a need for improved transportation options.
Pro: Affordable cost of living
One of the standout advantages is Greenville’s cost of living, which is approximately 9% lower than the national average. This affordability is evident across various expenses, including housing, groceries, utilities, and healthcare. The overall lower cost of living in Greenville means that residents can enjoy a higher quality of life without the financial stress often associated with larger metropolitan areas. This financial advantage allows for more disposable income to be spent on other things like leisure activities, savings, or investments.
Con: Limited nightlife options
While Greenville offers a variety of dining and cultural options, its nightlife scene is relatively subdued compared to larger cities. There are a few bars and clubs, but the city lacks a vibrant late-night culture. This can be a drawback for those looking for an active nightlife.
Pro: Flourishing arts scene
The city boasts a lively arts scene. Art galleries and studios dot the West Greenville area, showcasing local talent. Greenville’s commitment to the arts is evident in its public sculptures and murals, enriching the city’s cultural landscape. Art enthusiasts also appreciate the Greenville County Museum of Art, which features an impressive collection of American art, particularly Southern art. Additionally, the city supports local artists with numerous galleries and events like First Fridays, where art galleries open their doors to the public.
Con: Noise pollution
As the city grows, so does the level of noise pollution. Downtown areas and neighborhoods near major roads can be particularly noisy. This can affect the quality of life for some residents, especially those seeking a quieter living environment.
Greenville is known for its strong sense of community, with events that cater to all interests. The Fall for Greenville festival is a popular event featuring local food, music, and entertainment. Other notable events include Artisphere, an arts and culture festival, and the weekly TD Saturday Market, which offers fresh produce and local goods.
Jenna is a Midwest native who enjoys writing about home improvement projects and local insights. When she’s not working, you can find her cooking, crocheting, or backpacking with her fiancé.
Los Angeles is known for its eclectic mix of architectural styles, but every so often, a property comes along that truly captures the imagination.
Recently listed for $3.3 million, a rare storybook house in Pacific Palisades offers a unique blend of fantasy and historical charm. Originally built in 1930, the home is a whimsical mix of storybook architecture infused with Spanish, Art Deco, and old-world farmhouse elements.
Step through the gated entry, and you’ll find yourself in a fairy tale setting, complete with a turret, archways, and stained glass windows.
The house is also a treasure trove of salvaged items and artistic touches. With doors from the old Los Angeles Athletic Club, a bar and headboard from Hearst’s collection at San Simeon, and even a backyard fence made from old railway ties, every detail of this home tells a story.
And since pictures are worth a thousand words, let’s take a closer look at this fairytale-esque home — now listed for $3.3 million with Compass’ Dan Urbach.
Property overview
Photo credit: Neuefocus / Compass
Built in 1930, this enchanting home sprawls over 4,234 square feet and features 3 bedrooms, 3.5 bathrooms, and plenty of unique amenities. From its gated front yard with lush landscaping to the spiral staircase and hidden rooms, every corner of this house tells a story.
Especially since the property’s longtime owners have spent the last 60 years sourcing materials spanning from around Los Angeles, the Central Coast, and across Europe – all to create a home that exudes curated, refined character and unique craftsmanship. And their efforts paid off, as we’re about to see.
Breakdown of amenities
Photo credit: Neuefocus / Compass
Before we caught up in this house’s fairytale-like elements, let’s see what it comes with. Some of the amenities include:
A formal living room with brick fireplace and stained glass
Open dining area and kitchen with vintage O’Keefe & Merrit oven
A spacious family room off the kitchen
A primary suite with vaulted ceilings and an Art Deco-style bathroom
Two guest bedrooms, each with unique character and custom details
A backyard with multiple lounge areas, casita, garden shed, and darkroom
Basement and central heating
A carport with garage door
Architectural charm
Photo credit: Neuefocus / Compass
This house is a delightful blend of storybook architecture with touches of Spanish, Art Deco, and old-world farmhouse styles.
Storybook architecture, characterized by whimsical designs and fairy tale elements inspired by European folk tales, first appeared in Los Angeles in the 1920s and quickly gained popularity among Hollywood stars who wanted homes that felt like fanciful hideaways.
This home captures that essence perfectly, with its turreted entry, archways, and stained glass windows that make you feel like you’ve stepped into a fairy tale.
Equally charming interiors
Photo credit: Neuefocus / Compass
Step inside, and you’ll find a living room for the ages — featuring a brick fireplace with a mantel made from an old oak wine press, leaded glass windows, and vaulted ceilings crafted from reclaimed wood from a Los Olivos farm.
The kitchen’s vintage charm
Photo credit: Neuefocus / Compass
The kitchen exudes vintage farmhouse charm, boasting a classic O’Keefe & Merrit oven/range, a custom sink and pantry, and architectural details such as archways and copper-clad corners.
The cozy family room
Photo credit: Neuefocus / Compass
The main hall leads to a cozy family room and an Art Deco-inspired powder room with pink and green hues.
Idyllic primary bedroom
Photo credit: Neuefocus / Compass
The primary suite offers a large bedroom with vaulted ceilings, a built-in vanity, ample closet space, and an Art Deco-style bathroom.
The charming guest bedrooms
Photo credit: Neuefocus / Compass
Two guest bedrooms, each with their own unique character, share a beautifully tiled bathroom with a step-down shower and separate tub.
One bedroom features cathedral-like windows and custom closets with a built-in desk, while the other boasts a seating area and a lofted sleeping space accessible by an oak beam staircase.
The loft above the living area
Photo credit: Neuefocus / Compass
A wrought iron spiral staircase leads to a spacious loft overlooking the living room, complete with bookshelves and secret rooms.
Salvaged treasures
Photo credit: Neuefocus / Compass
The house is a treasure trove of salvaged items.
The doors in the dining room, blue bathroom, and the big middle room are from the old Los Angeles Athletic Club, salvaged by the owner’s late mother during the club’s renovation.
The master bedroom headboard and the bar in the dining room came from Hearst’s collection at San Simeon. Even the backyard fence is made from old railway ties, adding to the home’s quirky charm.
Hearst Castle connections
Photo credit: Neuefocus / Compass
Speaking of Hearst Castle, the house has a direct connection to the famous San Simeon estate. According to our sources, the current seller’s parents had a friend who managed to bring several items from Heart’s castle — and helped repurpose them.
The bar in the dining room and the master bedroom headboard were part of Hearst’s collection, originally sourced from Louis XIV’s collections in France. It was initially part of Hearst’s collection of antique French furniture he had shipped over from Europe to decorate San Simeon. The family friend acquired the headboard and repaired it for the current owners.
Art & sculptures abound
Photo credit: Neuefocus / Compass
Art lovers will appreciate the “Bucket Man” sculpture by Malibu artist Carl Gillberg, which graces the backyard pond. Created in the early ’70s, this whimsical piece doubles as a fountain, adding a playful touch to the garden (provided future owners will rehab the pump).
The house itself is a living piece of art
Photo credit: Neuefocus / Compass
The eclectic combination of salvaged doors, antique furnishings, architectural details, and repurposed materials come together to create a living art piece. Each room has been thoughtfully designed with artistic vision.
The fairy tale continues outside
Photo credit: Neuefocus / Compass
The backyard is equally charming, with a deck, lounge areas, a “casita” with a kitchen, and a garden shed. There’s also a lower level with a storage room, a workshop, and a darkroom, perfect for creative projects.
The “casita” is a rustic dream
Photo credit: Neuefocus / Compass
Made out of reclaimed produce crates and beams, the “casita” is just as unique as the main house, and serves as an extra-charming rustic kitchen with vaulted ceilings, stained glass windows, and plenty of salvaged items.
Pacific Palisades location
Photo credit: Neuefocus / Compass
Located in the picturesque Pacific Palisades, this house offers the perfect blend of coastal living and suburban charm. The Palisades are known for their beautiful landscapes, excellent schools, and a tight-knit community. Plus, it’s just a short drive from the beach, making it an ideal spot for those who love the ocean.
Unlike anything else on the market
Photo credit: Neuefocus / Compass
“There is really nothing like this on the market, especially in the Palisades,” says listing agent Dan Urbach. “Inventory remains low in Pacific Palisades and there is still strong buyer demand for homes priced in a market-value range. Properties with exceptional character and charm tend to sell faster, as they create an emotional appeal.”
This storybook house is not just a home; it’s a fairy tale waiting to be lived in. With its rich history, unique design, and prime location, it’s truly a rare gem in Los Angeles.
More stories
You can rent Walt Disney’s storybook house in Los Angeles – but it won’t be cheap
This charming storybook cottage nestled under the iconic Hollywood sign will take you back to the early days of Hollywoodland
Julia Child’s fairytale cottage in Provence is now available for rent; The kitchen is a Must-See
In addition to serving as the unofficial start to summer, Memorial Day weekend is also a major sale holiday. You can typically find Memorial Day sales across just about every category, from mattresses to major appliances to fashion. The holiday isn’t until May 27, but between spring savings events and early Memorial Day offers, there are already some solid early deals available.
Here’s how to make the most of the upcoming Memorial Day sales—plus some early offers you can shop … [+] now.
Illustration: Forbes / Photos: Retailers
Some of the best offers you can shop today include up to 50% off a new DreamCloud mattress, up to 30% off soft linens and loungewear at Cozy Earthand up to 60% off furniture at Burrow. Find additional info on these sales below, plus get answers about what to expect from this year’s Memorial Day sales.
The Best Early Memorial Day Sales At A Glance:
Best Early Memorial Day Sales: Mattresses
MOST POPULAR
Best Early Memorial Day Sales: Home
Burrow: Save up to 60% sitewide at this mod home furnishings retailer right now.
Cozy Earth: Score soft bamboo linens for up to 30% off during its current sale. Psst, Cozy Earth makes our pick for the best bamboo sheets.
Frontagate: Frontgate is counting down to Memorial Day weekend by offering up to 40% off sitewide. That includes tops picks like our favorite bath towels.
CB2: Take up to 30% off chic furniture, rugs and décor and up to 60% off clearance items at CB2.
Our Place: During Our Place’s Spring Sale, you can save up to 40% on cult-favorite kitchenware, like the Always Pan 2.0 and the Wonder Oven.
Pottery Barn: Shop its current sale to save up to 50% on all outdoor and garden gear.
Target: The popular one-stop shop is currently offering up to 50% off kitchen and dining favorites. (Plus, RedCard holders get an additional 5% off.)
Williams-Sonoma: Shop best-selling cookware, bakeware and kitchen appliances for up to 40% off.
Best Early Memorial Day Sales: Appliances
Lowe’s
LG WashTower (4.5 Cubic Feet Washer And 7.4 Cubic Feet Dryer)
Buy From Lowe’s
Lowe’s: Take up to 35% off major appliances for your home this week including our pick for the best stackable washer and dryer.
Samsung: Save up to $1,200 on refrigerators, $1,000 on laundry sets and up to $1,500 on select appliance bundles right now.
The Home Depot: Score up to 40% off select floor care and air quality tools at the home improvement retailer this week.
Best Buy: The popular tech retailer is offering up to 30% off major appliances this week as well as hundreds of deals on small kitchen appliances.
LG: Refresh your major appliances at LG this week. Take up to 30% off best-selling LG laundry sets and dishwashers, and up to 25% off refrigerators.
Amazon: Score deals on thousands of small kitchen appliances (and two-day shipping for Prime members) at the retail giant.
Costco: Costco members qualify for exclusive deals on popular appliances from brands like LG, Samsung and more.
Best Early Memorial Day Sales: Tech
Amazon: Amazon has discounts on thousands of tech favorites like AirPods, laptops, smartwatches and more.
Best Buy: The beloved tech retailer is a sure bet for discounts on the latest tech, often rivaling Amazon. Right now, save on Beats headphones, smart TVs and more.
Dell: Shop its deals section to save up to $750 on laptops and other peripherals.
Lenovo: During Small Business Month, Lenovo is offering up to 69% off laptops, including our pick for the best business laptop overall.
Walmart: Walmart is another great place to search for discounts on popular electronics from brands like Apple, LG, HP and more.
Woot: This Amazon subsidiary has hundreds of deals on products like TVs and smartphones (like this unlocked Google Pixel 7 Pro). You can also still qualify for Prime shipping.
Newegg: Newegg drops a slew of fresh deals every week, including items like laptops and SSDs. You can also often find discounts on gift cards from Nintendo and Xbox.
OnePlus: You can save even more on our top pick for the best budget noise-cancelling earbuds right now.
Best Early Memorial Day Sales: Fashion
Net-A-Porter
Net-A-Porter: Score discounts of up to 60% on curated pieces from brands like Good American, Nike, Balenciaga and more.
J.Crew: Save up to 50% on warm weather pieces like dresses, tops and bathing suits for women, men and kids.
Shopbop: Peruse its sale section to save up to 60% on brands like Theory, Reformation and Free People.
Rue La La: Save on designer favorites, like up to 70% off Burberry for men, women and kids and up to 30% off Gucci bags.
Athleta: Athleta’s sale section was just refreshed. Save up to 60% on athleisure wear favorites, like the Run With It High Rise Skort.
Backcountry: Sign into your free account to take 20% off one full-priced item during this outdoor retailer’s member sale.
Best Early Memorial Day Sales: Beauty
Amazon: Now through May 19, you can save on summer skincare and beauty essentials—plus get a $10 credit on orders of $50 or more with code BEAUTYHAUL.
Paula’s Choice: You can take 20% off Niacinamide skincare products right now, including this best-selling Niacinamide + BHA Duo.
Solawave: Save 25% on these best-selling light therapy wands and skincare serums.
Revolve: Check out its sale section to find deals on products from brands like Indie Lee, T3 and Korres.
Origins: Take 25% off sitewide from this classic skincare brands. You’ll also get a free eight-piece gift with orders over $100.
SK-II:You can save 15% on all of its skincare right now, including bestsellers like the Petera Facial Treatment Essence.
When Is Memorial Day 2024?
Memorial Day is always the last Monday in May. This year, it falls on May 27.
When Do Memorial Day Sales Start?
We expect many of this year’s Memorial Day sales to kick off on Friday, May 24. Some sales will start even earlier in May, but retailers typically save their best offers for the official holiday weekend.
What Are The Best Things To Buy On Memorial Day?
Memorial Day is typically a great time to save on big-ticket items like mattresses, patio furniture, major appliances and TVs. In recent years we’ve also seen more and more sales cropping up from fashion and beauty brands. Think of the holiday weekend as sort of a mini Black Friday where you can find deals across nearly all product categories.
Do Appliances Go On Sale During Memorial Day?
Yes, Memorial Day is a great time to find discounts on appliances of all sizes. Retailers like Samsung, Lowe’s and The Home Depot typically host appliance sales over the long weekend. But if the appliance you’ve been eyeing isn’t discounted, don’t get discouraged; you’ll likely get an opportunity to save over July 4 or Labor Day.
Do Clothes Go On Sale During Memorial Day?
Memorial Day clothing sales are fairly common. In the past we’ve seen discounts from retailers like Madewell, Rent The Runway, J.Crew and Abercrombie & Fitch.