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.
Chris Lafakis, Director at Moody's Analytics, discusses how home insurance may change as a result of the devastation in California brought on by the LA fires.
Brian Rosen, Founder and CEO of InvestBev, discusses what the Surgeon General’s new Advisory on Alcohol and Cancer Risk means for the adult beverage business.
Damage from the Los Angeles inferno is setting records—and it's not over. Plus, rate-cut drama, the battle over Greenland, and Zuckerberg bends the knee.
Watch Duty CEO, John Mills, talks to Cheddar about how the app works, how it helps people in real time and how people can donate to help those affected.
