The Money Section | The housing market is ready for a rebound in 2024

͏Also, the tale of the recession that never came. ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ [Fort Worth Star-Telegram]( January 4, 2024 • Issue #66 [The Money Section] This week, we’re looking at the housing market's expected comeback in 2024, how the economy thrived against all odds in 2023, and the 22 states set to increase their minimum wage starting January 1. The housing market is ready for a rebound in 2024. [Housing]( Money; Shutterstock After peaking at 7.79% in October, rates have steadily declined, approaching 6% for the first time in almost a year. [Here are 3 signs the housing market is making a comeback.]( 🏠 How the first-time homebuyer tax credit works. In 2021, the proposed First-Time Homebuyer Act sought to institute a credit of up to $15,000. However, it has not been enacted. Although no current first-time homebuyer credit exists, there are[other deductions homebuyers can consider.]( 💰 Real estate in a post-Sitzer/Burnett lawsuit world. Since a Missouri jury found the real estate industry liable for inflating agent commissions two months ago, uncertainty looms regarding the final ruling and fallout in the real estate community. [See what brokers are advising for navigating these challenges.]( These will cost more in 2024 even as inflation falls. [Expenses]( Money; Shutterstock Inflation’s cooling, but we’re not out of the woods yet. Predictions for 2024 indicate rising prices for many types of insurance (auto, health, homeowners), certain electric vehicles, and restaurant food. [Read more.]( 📊 A paradoxical year. Even with positive economic indicators, swing-state voters remained pessimistic about the economy, while spending on services stayed high. [Take a look at 11 charts breaking down 2023 in business, technology, and the economy.]( 😮 The tale of the recession that never came. Households and businesses were “insulated” from interest rate hikes, and the labor market remained robust, with sectors hit hardest during the pandemic being the ones to contribute most to job gains. [Read more about the several factors that supported 2023’s surprise performance.]( On January 1st, 22 U.S. states will increase their minimum wage. [Minimum Wage]( Money; Shutterstock The adjustments, coming through ballot measures, legislation, and inflation adjustments, are expected to particularly benefit struggling Americans, with 1 in 5 workers receiving wage increases currently living below the poverty line. [Read more.]( 👷 Experts say the labor market is expected to stabilize in 2024. Despite prolonged inflation, fears of a recession, and mass layoffs in 2023, the unemployment rate hit 3.7% in November, and optimism is growing among employers for 2024. [Find out what trends the experts are anticipating in the job market.]( 💼 New year, more job seekers. Despite some companies still planning layoffs in 2024, there is ongoing demand, with 46% of firms reporting increased hiring in 2023 and intending to add new employees in 2024. [Check out a list of 15 fast-hiring companies](. Smart Money Move Protect your family’s future without breaking the bank [Life Insurance] [Life Insurance] While whole life insurance may seem like the obvious choice, term life insurance can often offer a better solution. For starters, it’s 6 to 10 times more affordable, allowing you to redirect savings toward your dreams. With fixed premiums and death benefits, it’s simpler than whole life. Enjoy flexibility as your family grows, with the option to convert to permanent insurance at a convenient time. Give your family the protection they deserve without the hefty price tag. [See Money’s Best Life Insurance list for affordable options, starting at just $7/month.]( Stories we're reading this week - [CSS Profile: What You Need to Know About Filling Out the College Financial Aid Form]( - [EV Tax Credits Just Changed Again: Here’s Where You Can Still Get Discounts]( - [Here’s How Far Home Prices and Mortgage Rates Could Drop in 2024]( - [What Happens When Facebook Heats Your Home]( - [What Does a Background Check Show?]( - [Powerball $842.4 Million Winning Ticket Sold in Michigan]( - [Social Security Checks Are Bigger This Year — Here's When Benefits Will Pay Out]( The Money Section is written in partnership with Money Research Collective This email was sent to {EMAIL} because you are signed up to receive marketing emails or newsletters from the Fort Worth Star-Telegram. If you no longer wish to receive emails of this type, you may [unsubscribe]( or [update your email preferences](. We are unable to monitor replies to this email. Please [contact customer service]( if you have any questions or concerns. [Privacy Policy]( | [Terms of Service]( | [View in Browser]( Copyright © 2024 Fort Worth Star-Telegram. All Rights Reserved. 2300 W 7th Street Ste. 108, #230, Fort Worth, TX 76107