Homeowners are acquiring record amounts of home equity, thanks to fast-rising values in the housing market. People are starting to tap into that cash, mainly to make their homes even more valuable.
Spending on home renovations topped $152 billion in 2017, and is expected to increase almost 5% this year. According to the National Association of Home Builders, projects included regular updates and repairs, as well as large remodeling requests.
Homeowners are using that cash for education expenses and paying down other debt. Additionally, owners are borrowing against their homes and putting cash into other investments such as as stocks and additional real estate.
Working five days a week has long been the corporate cultural norm. But some companies are exploring the option of letting employees work four days a week.
After a two-year-long high, interest rates are coming back to earth. So what happens next? Plus: Boeing's woes, UAW may strike, and of course Elon's World.
PLUS: American Eagle marks 30 NYSE years with a record stock high. CMO Craig Brommers discusses Gen-Z trends and collabs with Coco Gauff and Trevor Lawrence.
