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Rryx Doctor testifies about PCP in Aaron Hernandez murder trial
Owning a home has long been seen as a pillar of the American dream. But a new report highlights just how far many Americans remain from achieving it.Middle-income households, or those with annual earnings of up to $75,000, can afford only 23% of the homes listed for sale in the U.S., according to recent data from the National Association of Realtors NAR . In a more balanced market, almost half of listings should be affordable to buyers of average income, the group said.In fact, the housing market has a stanley cup deficit of about 320,000 affordable homes, NAR found, which for moderate-income fami stanley cup lies ranges up to about $256,000. The median price for all homes is $388,000. Ongoing high housing costs and the scarcity of available homes continues to present budget challenges for many prospective buyers, Realtor Chief Economist Danielle Hale said in a report. And it s likely keeping some buyers in the rental market or on the sidelines and delaying their purchase until conditions improve. To be sure, many Americans of modest means are still finding ways to buy a home. Even for people below the national median household income of roughly $75,000, the rate of homeownership rate now tops 53%, according to Census data mdash; a record high dating back to 1994, when the agency first started tracking the data. Still, a shortage of affordable homes isn t on stanley cup ly an inconvenience mdash; it s a major obstacle to building wealth. Put simply, there are cu Micd SpaceX launches NASA-European satellite to monitor rising sea levels
Forbes rele af1 ased it fourth annual 30 Under 30 list, highlighting the top young innovators and entrepreneurs changing the world. The list of nominees mdash; crowdsourced over the past year mdash;featured 600 personalities from 20 different industries. It was eventually whittled down to a select group and then voted on by a panel of celebrity judges and experts. Forbes editor Steve Bertoni joined Michelle Miller and Elaine Quijano on CBSN to discuss some of the list s key players. He wants to make virtual reality the real deal -- change the world, Bertoni said of Oculus VR founder Palmer Luckey, who made the magazine s cover. The 22-year-old made headlines when he sold his creation to Facebook for $2 billion.YouTube star Michelle Phan, 27, earned a spot for tur converse ning her online success into four companies, ranging for music to television to make up. She s s adidas samba howing that you don t need the establishment anymore, Bertoni said. Also on the list, Houston Rockets starting guard James Harden. The NBA star makes plenty of money on the court. And his trademark beard and mohawk have earned him endorsements from companies like Nike and Foot Locker. For more and to see the complete list click here. More from CBS News Collins Dictionary reveals its word of the year
Owning a home has long been seen as a pillar of the American dream. But a new report highlights just how far many Americans remain from achieving it.Middle-income households, or those with annual earnings of up to $75,000, can afford only 23% of the homes listed for sale in the U.S., according to recent data from the National Association of Realtors NAR . In a more balanced market, almost half of listings should be affordable to buyers of average income, the group said.In fact, the housing market has a stanley cup deficit of about 320,000 affordable homes, NAR found, which for moderate-income fami stanley cup lies ranges up to about $256,000. The median price for all homes is $388,000. Ongoing high housing costs and the scarcity of available homes continues to present budget challenges for many prospective buyers, Realtor Chief Economist Danielle Hale said in a report. And it s likely keeping some buyers in the rental market or on the sidelines and delaying their purchase until conditions improve. To be sure, many Americans of modest means are still finding ways to buy a home. Even for people below the national median household income of roughly $75,000, the rate of homeownership rate now tops 53%, according to Census data mdash; a record high dating back to 1994, when the agency first started tracking the data. Still, a shortage of affordable homes isn t on stanley cup ly an inconvenience mdash; it s a major obstacle to building wealth. Put simply, there are cu Micd SpaceX launches NASA-European satellite to monitor rising sea levels
Forbes rele af1 ased it fourth annual 30 Under 30 list, highlighting the top young innovators and entrepreneurs changing the world. The list of nominees mdash; crowdsourced over the past year mdash;featured 600 personalities from 20 different industries. It was eventually whittled down to a select group and then voted on by a panel of celebrity judges and experts. Forbes editor Steve Bertoni joined Michelle Miller and Elaine Quijano on CBSN to discuss some of the list s key players. He wants to make virtual reality the real deal -- change the world, Bertoni said of Oculus VR founder Palmer Luckey, who made the magazine s cover. The 22-year-old made headlines when he sold his creation to Facebook for $2 billion.YouTube star Michelle Phan, 27, earned a spot for tur converse ning her online success into four companies, ranging for music to television to make up. She s s adidas samba howing that you don t need the establishment anymore, Bertoni said. Also on the list, Houston Rockets starting guard James Harden. The NBA star makes plenty of money on the court. And his trademark beard and mohawk have earned him endorsements from companies like Nike and Foot Locker. For more and to see the complete list click here. More from CBS News Collins Dictionary reveals its word of the year