Garland seeks to unseal Mar-a-Lago search warrant: The Justice Department has requested that a federal court unseal the warrant used by the FBI for its raid on the Mar-a-Lago estate of former President Donald Trump. Attorney General Merrick Garland stated this unusual request was being made due to the high level of public interest in the case. Garland made a public statement before the media on Thursday where he acknowledged that he personally approved the warrant and defended the integrity of the FBI agents that conducted the search of the Trump residence. However, Garland would not take questions from reporters, now did he provide any specific details on what the FBI agents were specifically searching for at Mar-a-Lago.
Fewer affordable homes are available: Buying an affordable home has become a greater challenge, according to the latest Housing Opportunity Index published by the National Association of Home Builders and Wells Fargo, which determined that only 42.8% of new and existing homes sold in the second quarter were affordable to families earning the median income of $90,000. In comparison, 56.9% of homes sold in the first quarter were affordable to median-income earners. The index also reported national median home price was $390,000 in the second quarter, a new record high. However, a different survey by the National Association of Realtors found the U.S. median single-family existing home price in the second quarter was $413,500.
What”™s a mortgage?: Do prospective homebuyers know how to buy a home? A new survey has determined that more than half of Americans do not know the definition of a mortgage. In a survey of 2,000 adults conducted by OnePoll on behalf of PrimeLending, only 49% of people were able to correctly define the word “mortgage” from a list of options. Of that share, 54% of the respondents were homeowners and 40% lived in rental housing. Among the homeowners surveyed, 42% had a mortgage on their homes, while 48% used cash to purchase their property.
China enacts power restrictions: Major manufacturing hubs in China are imposing power restrictions on multiple industries as the country faces a record high electricity demand during a brutal summer heatwave. The South China Morning Post reported that the industrial provinces across China have enacted either restrictions or shut downs on manufacturing facilities, while the provinces of Guangdong and Sichuan plus the city of Chongqing imposed electricity restrictions after power use records were broken. Earlier this year, Chinese President Xi Jinping pledged there would not be a repeat of the 2021 power crisis that resulted in blackouts and power rationing in more than 20 out of the country”™s 31 provincial-level jurisdictions.
Holiday shipping costs hiked: If you”™re planning to mail gifts for the December holiday season, be prepared to spend more money on postage. The U.S. Postal Service announced it will temporarily raise postage prices from Oct. 2 of this year through Jan. 22, 2023. The price increases will depend on the size of the package, where it is being sent and the type of parcel. The Postal Service defended its holiday price hike by claiming it “has some of the lowest postage rates in the industrialized world and continues to offer great values in shipping.”
IKEA invests in EV charging: The furniture retail chain IKEA is collaborating with Electrify America and Electrify Commercial to bring electric vehicle (EV) charging stations to more than 25 IKEA locations throughout the U.S. In total, there will be more than 200 individual charging stations in 18 states including Connecticut and New York. The first stations are expected to become available later this year and the full installation will be completed by the end of 2023.
Photo courtesy USPS
