How to afford a house; New IRS Tax Credit Tools

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The “American dream” has long been built on the basis of homeownership. Yet, as income and wealth gaps widen and house prices hit new highs, this dream becomes more and more elusive, especially for those looking to buy their first home. This week, Forbes has published a series of stories to help you understand the booming housing market and assess your place in the household. Plus, read on for the latest news on tax hikes, reinvented index funds, will drafting and more.

Cue the talking heads

House prices are soaring across the country—this is what feeds (and does not stoke) the fire. If you still intend to take advantage of today’s low mortgage rates, make sure you can actually afford the house you hope to buy. In the meantime, here’s some encouraging news: The Biden administration is taking action to help close the gap between black and white homeownership rates, which is now larger than it was over 50 years ago, just before the enactment of the Fair Housing Act of 1968.

The Administration is also relaxing federal rules for easier for those with student loan debt to get approved for low down payment FHA mortgages. And a new startup just launched a rewards credit card that lets you earn points on your rent and possibly apply them to a down payment on a house.

Repair test

New unemployment claims stayed flat last week, signaling that the struggling labor market still has a long recovery ahead. Wondering how exactly the Fed’s interest rate policies affect jobs, inflation, and even housing? Forbes adviser breaks it down. And on the eve of June 17, the mayors of 11 American cities (including LA and Denver) agreed to set up pilot programs offering repairs to some of the black residents of their community.

New graphic: Wood! Fall in timber prices

Source: FactSet

Index funds of the future

From our hedge fund reporter Antoine Gara, meet Exxon activist investor who is trying to reinvent the index fund with an intriguing new ETF. As bitcoin hovers between $ 30,000 and $ 35,000 (up from $ 63,000 in mid-April), Michael Saylor’s business analyst firm MicroStrategy doubles with another $ 500 million purchase of volatile cryptocurrency. The technology-rich Nasdaq reaches new heights; here are the the best performing stocks lead the outbreak.

Tracking Child Tax Credits

Theirs launched two new tools to help the 36 million Americans eligible for the newly enhanced child tax credits navigate the change. Payments will start to hit bank accounts in a few weeks, but here are the details you need to know today.

Ready to write a will?

It’s not a fun task, but I hope it Dramatic Oklahoma trial convinces you prepare a clear and professionally written will. Unfortunately, a new government study has found that Covid-19 may have increase in deaths in retirement homes by nearly a third in 2020. Finally, here is a quiz to help you determine if an older person in your life is potentially financially exploited.

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