News
Seattle couple buy $30K Japanese farmhouse
Leika and Brandon Hansen purchased a 100-year-old Kominka-style farmhouse with swathes of rice fields in Japan’s countryside last year. “We have stable jobs and we're trying to do our best in the U.S., but the area that we want to live — in Seattle — we could easily get priced out pretty fast,” said Leika. The couple’s new home in Okayama cost them just $30,000, compared to expensive Seattle, where the typical home is valued at around $847,000, according to Zillow. Leika — whose mother grew up in Japan — never would have imagined moving there permanently until Brandon shared his own experience in the quiet towns around the Okayama and Osaka area. “Japan seemed like a slower pace of life,” said Brandon in the couple's interview with Business Insider. “It's easy to live here.” The Hansens plan to move to Japan permanently this summer — here are their three big reasons why.
Colorado family were whistleblowers on trust fraud
When Abagayle Muszynski was born with a terminal condition that caused cerebral palsy, epilepsy and blindness, her parents knew they wouldn't have long with their daughter. But one thing they believed was certain was that they'd always have the funds to take care of her, thanks to a wrongful birth suit that was settled in 2013. However, as it turns out, the Muszynskis left that settlement money in the wrong hands. Ten years ago, they realized between $250,000 to $350,000 had gone missing from Abagayle’s trust fund — and instead of spending their limited time with their daughter, they had to fight to try and get back what was rightfully hers. Abagayle died at the age of 11 last November and the Muszynskis never recovered the lost funds, along with many other families who had money stored in trusts with the Center for Special Needs Trust Administration. In February, the center filed for Chapter 11 bankruptcy after reportedly discovering founder Leo Govoni loaned himself $100 million over more than a decade and never repaid it. “We uncovered this 10 years ago and tried to get every law enforcement agency involved so this didn’t happen and the FBI just completely failed,” Richard told WFLA News’ 8 On Your Side. “It’s heartbreaking,” Kimberly adds. “It’s disgusting.”
Commissioner accused of power of attorney fraud
When Orlando City Commissioner Regina Hill heard about an older woman living in her community in “deplorable conditions” back in 2021, she decided to reach out. But rather than helping the vulnerable adult, who reportedly has a cognitive disability and is exhibiting some natural signs of aging, Hill appears to have taken advantage of the senior. Within a month of first contacting her, Hill had a power of attorney prepared for the now-96-year-old, leaving her in control of the woman’s financial affairs. And with that power, over the next two years, she helped herself to more than $100,000 of the woman’s savings — treating herself to a facelift, vitamin IV infusions, a Miami getaway for New Year’s and even purchasing a home in the woman’s name, with her as a cosigner. The Florida Department of Law Enforcement (FDLE) is currently investigating the commissioner, according to a report in the Orlando Sentinel. But as the baby boom generation continues to age, a “great wealth transfer” is just on the horizon. Here’s what you need to know to protect yourself from predatory actors.
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San Diego mom arrested for running a crime ring
San Diego mom Michelle Mack has been accused of masterminding an $8 million retail theft ring that pilfered cosmetics from Sephora and Ulta stores across the country. Investigators say the 53-year-old ringleader employed a group of 12 women to perform the thievery and then stashed the loot inside her 4,500-square-foot Spanish-style mansion, which she then resold at a fraction of the original price on Amazon, raking in millions of dollars. In February, California Attorney General Rob Bonta filed 140 felony charges against Mack, her husband and seven other alleged members of the crew — which included conspiracy to commit organized retail theft, grand theft and receipt of stolen property. “This is a multimillion-dollar criminal scheme. It was complex. It was orchestrated,” Bonta said, according to CNBC. “We are not talking about garden-variety shoplifting.”
San Diego mom Michelle Mack has been accused of masterminding an $8 million retail theft ring that pilfered cosmetics from Sephora and Ulta stores across the country. Investigators say the 53-year-old ringleader employed a group of 12 women to perform the thievery and then stashed the loot inside her 4,500-square-foot Spanish-style mansion, which she then resold at a fraction of the original price on Amazon, raking in millions of dollars. In February, California Attorney General Rob Bonta filed 140 felony charges against Mack, her husband and seven other alleged members of the crew — which included conspiracy to commit organized retail theft, grand theft and receipt of stolen property. “This is a multimillion-dollar criminal scheme. It was complex. It was orchestrated,” Bonta said, according to CNBC. “We are not talking about garden-variety shoplifting.”
NYC pizzerias forced to change ovens
New York City is implementing a regulation requiring wood- and coal-fired pizza ovens to significantly reduce their emissions. This rule, which takes effect on April 27, mandates that pizzerias with ovens installed before May 2016 cut their particulate emissions by as much as 75%. The financial implications of this mandate can be substantial, as detailed by Kevin Jackson, general manager of John's of Bleecker Street, an emblematic NYC pizzeria established more than a century ago. “We had about $150,000 worth of expense,” Jackson revealed in a recent interview with Fox Business. He elaborated on the complexity of the task, noting that compliance involves more than merely affixing a scrubber on top of the oven flue. “Our flue wasn't the right width, so we had to change our whole two, six-story flues, we had to change from 14 inches to 18 inches. You have to put the scrubber up top, that involves punching through a brick wall, which, in a 100-year-old building, I can assure you needs engineers and all kinds of different construction people just to do the punch through the wall. So it's a big expense,” he explained.
New York City is implementing a regulation requiring wood- and coal-fired pizza ovens to significantly reduce their emissions. This rule, which takes effect on April 27, mandates that pizzerias with ovens installed before May 2016 cut their particulate emissions by as much as 75%. The financial implications of this mandate can be substantial, as detailed by Kevin Jackson, general manager of John's of Bleecker Street, an emblematic NYC pizzeria established more than a century ago. “We had about $150,000 worth of expense,” Jackson revealed in a recent interview with Fox Business. He elaborated on the complexity of the task, noting that compliance involves more than merely affixing a scrubber on top of the oven flue. “Our flue wasn't the right width, so we had to change our whole two, six-story flues, we had to change from 14 inches to 18 inches. You have to put the scrubber up top, that involves punching through a brick wall, which, in a 100-year-old building, I can assure you needs engineers and all kinds of different construction people just to do the punch through the wall. So it's a big expense,” he explained.
Trump blasts management of Social Security
Whoever wins the Oval Office in November 2024 is going to inherit a mountain of national debt, which is currently at $34.5 trillion and counting. One potential remedy for this debt problem — raised time and time again, mainly by Republican lawmakers — would be to cut spending on entitlement programs like Social Security, Medicare, Medicaid, Unemployment Insurance and other welfare programs. While President Joe Biden has insisted he will not cut funding for entitlements, it seems like his main political rival Donald Trump is wavering on the issue. In an interview on CNBC’s “Squawk Box” on March 11, the former U.S. president was asked by host Joe Kernen if he had changed his “outlook on how to handle entitlements” like Social Security. Trump responded by saying there’s a “tremendous… number of things” that could be done to entitlements “in terms of cutting and [also] in terms of the theft and the bad management of entitlements, tremendous bad management of entitlements.”
Whoever wins the Oval Office in November 2024 is going to inherit a mountain of national debt, which is currently at $34.5 trillion and counting. One potential remedy for this debt problem — raised time and time again, mainly by Republican lawmakers — would be to cut spending on entitlement programs like Social Security, Medicare, Medicaid, Unemployment Insurance and other welfare programs. While President Joe Biden has insisted he will not cut funding for entitlements, it seems like his main political rival Donald Trump is wavering on the issue. In an interview on CNBC’s “Squawk Box” on March 11, the former U.S. president was asked by host Joe Kernen if he had changed his “outlook on how to handle entitlements” like Social Security. Trump responded by saying there’s a “tremendous… number of things” that could be done to entitlements “in terms of cutting and [also] in terms of the theft and the bad management of entitlements, tremendous bad management of entitlements.”
Mortgage rate trends this week
Thirty-year fixed mortgage rates have increased, from an average of 6.74% last week to 6.87%. “After decreasing for a couple of weeks, mortgage rates are once again on the upswing,” says Sam Khater, chief economist at housing giant Freddie Mac. "Despite elevated rates, homebuilders are displaying renewed confidence in the housing market, focusing on the fact that there is a good amount of pent-up demand, an ongoing supply shortage and expectations that the Federal Reserve will cut rates later in the year.”
Thirty-year fixed mortgage rates have increased, from an average of 6.74% last week to 6.87%. “After decreasing for a couple of weeks, mortgage rates are once again on the upswing,” says Sam Khater, chief economist at housing giant Freddie Mac. "Despite elevated rates, homebuilders are displaying renewed confidence in the housing market, focusing on the fact that there is a good amount of pent-up demand, an ongoing supply shortage and expectations that the Federal Reserve will cut rates later in the year.”
NYC woman arrested for locking out squatters
New York's squatter's rights laws have once again become the focus of public attention. Adele Andaloro inherited her family’s home in Flushing, Queens after her parents passed away. As she was preparing to sell the property, squatters took over, installing a new front door and changing the locks, effectively locking her out of her childhood home. Andaloro expressed her frustration to ABC7 New York's Eyewitness News, stating, “I'm really fearful that these people are going to get away with stealing my home.” According to New York state law, squatters are “classified as tenants and receive temporary rights as such” after occupying a property for 30 days. During an interview with reporter Dan Krauth, an unidentified woman approached and unlocked the front door of the house, promptly leaving upon noticing the camera crew. The camera kept filming while Andaloro, alongside her daughter and armed with her property deed, entered the home and found two men inside.
New York's squatter's rights laws have once again become the focus of public attention. Adele Andaloro inherited her family’s home in Flushing, Queens after her parents passed away. As she was preparing to sell the property, squatters took over, installing a new front door and changing the locks, effectively locking her out of her childhood home. Andaloro expressed her frustration to ABC7 New York's Eyewitness News, stating, “I'm really fearful that these people are going to get away with stealing my home.” According to New York state law, squatters are “classified as tenants and receive temporary rights as such” after occupying a property for 30 days. During an interview with reporter Dan Krauth, an unidentified woman approached and unlocked the front door of the house, promptly leaving upon noticing the camera crew. The camera kept filming while Andaloro, alongside her daughter and armed with her property deed, entered the home and found two men inside.
Biden's $10K tax credit for first-time homebuyers
President Joe Biden homed in on housing affordability and supply during his State of the Union address earlier this month. With house prices and mortgage rates lingering near record highs, housing policy has become a red hot button on the political agenda — one that could swing voters ahead of the presidential election in November. Recognizing the financial pain felt by millions of working families, President Biden has proposed a $10,000 tax credit for first-time homebuyers and people who sell their starter homes. He also announced a string of proposals to increase housing supply, improve financing and “crack down” on corporate landlords driving up prices in the rental market. The foundations of the U.S. housing market have crumbled under the pressure of high interest rates, elevated inflation and restrictive legislation. Will the president’s proposals strengthen that core and fix the nation’s housing crisis?
President Joe Biden homed in on housing affordability and supply during his State of the Union address earlier this month. With house prices and mortgage rates lingering near record highs, housing policy has become a red hot button on the political agenda — one that could swing voters ahead of the presidential election in November. Recognizing the financial pain felt by millions of working families, President Biden has proposed a $10,000 tax credit for first-time homebuyers and people who sell their starter homes. He also announced a string of proposals to increase housing supply, improve financing and “crack down” on corporate landlords driving up prices in the rental market. The foundations of the U.S. housing market have crumbled under the pressure of high interest rates, elevated inflation and restrictive legislation. Will the president’s proposals strengthen that core and fix the nation’s housing crisis?
Ohio mom charged more than $1K for Subway sandwich
A social worker in Ohio was left struggling to pay her bills and feed her family after a simple Subway order set her back a whopping $1,021.50. With a bill that size, it would be reasonable to expect a foot-long list of sandwich orders. But Letitia Bishop, a mom-of-two from Columbus, took that monstrous charge on her debit card to buy just three Subway sandwiches — one of which cost a cool $1,010, according to her Jan. 5 receipt, which she shared with WSYX ABC 6's “On Your Side”. When Bishop realized the error, she returned to the Subway at a Thorntons gas station on Winchester Pike, where she was advised to contact Subway’s corporate office. She claimed she had no luck getting through to “a live person” at Subway and when she tried the local store again, she found it “temporarily closed.” Bishop eventually reached out to WSYX for help in reclaiming her money. “I’m just trying to make ends meet at this point in time,” she told the ABC 6 news station, adding that she felt “stressed, overwhelmed [and] couldn’t get groceries at one point because my account was negative.” She told WSYX “there’s no way” she’d ever pay that much for a sandwich — especially from Subway — “unless it’s wrapped in gold.” Here’s how the sandwich saga played out.
A social worker in Ohio was left struggling to pay her bills and feed her family after a simple Subway order set her back a whopping $1,021.50. With a bill that size, it would be reasonable to expect a foot-long list of sandwich orders. But Letitia Bishop, a mom-of-two from Columbus, took that monstrous charge on her debit card to buy just three Subway sandwiches — one of which cost a cool $1,010, according to her Jan. 5 receipt, which she shared with WSYX ABC 6's “On Your Side”. When Bishop realized the error, she returned to the Subway at a Thorntons gas station on Winchester Pike, where she was advised to contact Subway’s corporate office. She claimed she had no luck getting through to “a live person” at Subway and when she tried the local store again, she found it “temporarily closed.” Bishop eventually reached out to WSYX for help in reclaiming her money. “I’m just trying to make ends meet at this point in time,” she told the ABC 6 news station, adding that she felt “stressed, overwhelmed [and] couldn’t get groceries at one point because my account was negative.” She told WSYX “there’s no way” she’d ever pay that much for a sandwich — especially from Subway — “unless it’s wrapped in gold.” Here’s how the sandwich saga played out.
Five Guys bill goes viral on social media
The all-American cheeseburger is commonly thought of as a budget-friendly dining choice. Nowadays, though, this basic meal option may come with a much higher price tag than expected. A receipt from fast-casual burger chain Five Guys recently went viral on social media. The itemized bill includes one bacon cheeseburger priced at $12.49, featuring no charge additions of bacon, ketchup and mustard. Accompanying the burger is a regular soda for $2.89 and a "little fry" for $5.19. With $1.34 in sales tax and a $2.19 tip added, the final total comes to $24.10. The receipt gained attention on Twitter after user WallStreetSilver posted it, commenting, “Five Guys prices are out of control. $24 for one person.” The user stated that the receipt was initially shared on Reddit. So far, WallStreetSilver’s post has received 25.4 million views, 13,000 comments and 77,000 likes.
The all-American cheeseburger is commonly thought of as a budget-friendly dining choice. Nowadays, though, this basic meal option may come with a much higher price tag than expected. A receipt from fast-casual burger chain Five Guys recently went viral on social media. The itemized bill includes one bacon cheeseburger priced at $12.49, featuring no charge additions of bacon, ketchup and mustard. Accompanying the burger is a regular soda for $2.89 and a "little fry" for $5.19. With $1.34 in sales tax and a $2.19 tip added, the final total comes to $24.10. The receipt gained attention on Twitter after user WallStreetSilver posted it, commenting, “Five Guys prices are out of control. $24 for one person.” The user stated that the receipt was initially shared on Reddit. So far, WallStreetSilver’s post has received 25.4 million views, 13,000 comments and 77,000 likes.
Jeremy Grantham warns of ‘bubble within a bubble’
Jeremy Grantham is well-versed in identifying market bubbles, having correctly foreseen the dot-com bubble burst and the 2008 financial crisis. And now, the famed investor has spotted another perilous trend. In his latest research report, Grantham focused on the extremely bullish sentiment of the U.S. stock market, underscored by the Shiller P/E Ratio — a key valuation measure for the S&P 500 — standing at 34 as of Mar. 1. This places it in the top 1% historically, a position Grantham views with caution due to the historical rarity of sustained market rallies from such a valuation. “The only bull markets that continued up from levels like this were the last 18 months in Japan until 1989, and the U.S. tech bubble of 1998 and 1999, and we know how those ended,” he remarked.
Jeremy Grantham is well-versed in identifying market bubbles, having correctly foreseen the dot-com bubble burst and the 2008 financial crisis. And now, the famed investor has spotted another perilous trend. In his latest research report, Grantham focused on the extremely bullish sentiment of the U.S. stock market, underscored by the Shiller P/E Ratio — a key valuation measure for the S&P 500 — standing at 34 as of Mar. 1. This places it in the top 1% historically, a position Grantham views with caution due to the historical rarity of sustained market rallies from such a valuation. “The only bull markets that continued up from levels like this were the last 18 months in Japan until 1989, and the U.S. tech bubble of 1998 and 1999, and we know how those ended,” he remarked.
Woman, 94, fights eviction from home of 80 years
A 94-year-old San Francisco woman recently faced a heart-breaking predicament: leave the apartment she’s called home for more than 80 years or fight her landlord’s eviction notice in court. Helen Byrne, who spends most of her time bed-ridden after suffering a fall last year, has lived in the same quadplex since age 12. Her dream is to live out her final years in a place full of happy memories of family and friends. But that dream was put in jeopardy when Byrne’s rent-controlled apartment building was sold in 2020 and the new owner seemingly tried to kick the tenants out in order to reach the full income potential of the property. “It’s wrong that this is happening,” Byrne’s local priest, Father John Jiminez, told NBC Bay Area. “You shouldn’t have to lose the home you’ve lived in all your life and you’ve paid your rent and done all the responsible things." He added: "People aren’t just numbers to be discarded.” Here’s why the building's new owner — identified by NBC Bay Area as Cesar Chavez LLC, managed by Daniel Mytels — tried to evict the tenants and what ultimately happened.
A 94-year-old San Francisco woman recently faced a heart-breaking predicament: leave the apartment she’s called home for more than 80 years or fight her landlord’s eviction notice in court. Helen Byrne, who spends most of her time bed-ridden after suffering a fall last year, has lived in the same quadplex since age 12. Her dream is to live out her final years in a place full of happy memories of family and friends. But that dream was put in jeopardy when Byrne’s rent-controlled apartment building was sold in 2020 and the new owner seemingly tried to kick the tenants out in order to reach the full income potential of the property. “It’s wrong that this is happening,” Byrne’s local priest, Father John Jiminez, told NBC Bay Area. “You shouldn’t have to lose the home you’ve lived in all your life and you’ve paid your rent and done all the responsible things." He added: "People aren’t just numbers to be discarded.” Here’s why the building's new owner — identified by NBC Bay Area as Cesar Chavez LLC, managed by Daniel Mytels — tried to evict the tenants and what ultimately happened.
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