Current Events in July 2022

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2022

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    Many parents don't know that screen time hurts their kids' vision, study finds

    Going to the eye doctor annually can help identify potential vision concerns

    A new study conducted by researchers from Michigan Medicine explored the harm that too much screen time can have on kids’ vision.

    Their findings showed that excessive time in front of screens can increase the likelihood that children become nearsighted. However, the team says many parents aren’t aware of these risks.

    “Many parents may not be aware of both the short and long-term health issues linked to excessive screen time, including its effect on children’s eyes,” said researcher Sarah Clark. “Our findings suggest that some parents may have inaccurate perceptions of activities that affect their child’s eye health and vision to minimize risks.” 

    Knowledge gap surrounding screen time

    The researchers surveyed over 2,000 parents who had children between the ages of three and 18. Parents answered questions about their kids’ screen time habits, their experience at the eye doctor, how much time they spend outdoors, and other lifestyle habits. 

    The survey showed that just half of the parents knew about the effect that screen time can have on their kids’ vision. The researchers explained that a lot of time on devices combined with little time outdoors can increase the likelihood that kids become nearsighted. These vision problems can worsen over time and increase their risk of other complications. 

    The researchers also found that less than 30% of parents reported that their kids wore blue light glasses. The team explained that blue light may not affect vision, but it can affect kids’ sleep quality. They recommend that kids stay off screens and avoid blue light within one hour before bedtime.

    Eye exams and sun protection

    In addition to screen time, the survey also looked at what other factors parents consider important for protecting their children’s vision. Many parents also weren’t clear on the effect of the sun on eyesight, with just two in five parents reporting that they have their kids wear sunglasses when outdoors. Experts have long suggested that parents take measures to protect their kids’ eyes when they’re out in the sun. 

    “While parents often make sure their children’s skin is protected with sunscreen, they may not think about protecting their eyes from the sun as well,” said Clark. 

    In this study, one in seven parents reported that their kids hadn’t been to an eye doctor in two years. However, to ensure that kids’ vision remains strong and healthy, the team encourages parents to make yearly eye doctor appointments.

    “Children should get vision tests at least every two years to make sure eyes are developing properly,” Clark said. “It’s important to identify and treat vision problems as early as possible, because undiagnosed vision issues can lead to serious eye conditions in the future, including permanent vision loss.” 

    A new study conducted by researchers from Michigan Medicine explored the harm that too much screen time can have on kids’ vision.Their findings showed...

    Renting is becoming cheaper than buying a home, report finds

    Rising mortgage rates mean renting is a better option in most large cities

    People in three-quarters of the 50 largest housing markets are better off continuing to rent than becoming a first-time home buyer, according to a new analysis from Realtor.com. Researchers say the shift took place in the first half of 2022 when mortgage rates nearly doubled.

    It’s not that rents are cheap. But mortgage rates that are over 6% have simply made buying a home unaffordable for a large sector of the population. 

    "With rents and for-sale home prices both hitting record-highs in June, the rising cost of financing a home purchase stands out as the clear driver of rental affordability relative to typical starter homeownership costs,” said Realtor.com Chief Economist Danielle Hale.

    While mortgage rates hovered around 3%, the cost of a monthly house payment was very competitive with rent, which increased last year at about the same rate as home prices.

    "While more markets offered relative rental affordability in June than in January, rents are still rising across the country,” Hale said. “Plus, many of the areas that favored renting are among the biggest tech cities, where real estate tends to come at a premium.”

    Median rent price hit a record high in June

    The median price of a rental in the U.S. hit a new high for the 16th consecutive month in June, but it still was less expensive than the monthly ownership costs of a home. Although sale prices of homes also hit multiple record-highs in the first half of the year, Realtor.com's June analysis found that mortgage rate hikes were the biggest driver of the widening affordability gap between renting and first-time buying.

    In June, it cost $1,876 a month to rent a typical home or apartment. That’s a 12-month increase of 14.1%.

    People buying their first home were faced with ownership costs that were nearly 30% higher than rents in June. The typical monthly ownership cost was about $2,437. Realtor.com estimates that higher mortgage rates added about $416 to the average monthly house payment in June.

    Erik Wright, CEO of New Horizon Homebuyers in Eastern Tennessee says people who are deciding whether to buy or rent should carefully crunch the numbers.

    “I think the most important consideration is what can you afford for a monthly payment based on the current interest rates,” Wright said. “The price you can pay for a house has probably changed significantly from back when interest rates were around 3%.”

    Large markets favor renting over buying

    The Realtor.com analysis suggests that renting is the best choice in larger markets. The country's biggest tech cities accounted for eight of June's top 10 metros that favored renting over buying. That list was led by Austin, where the monthly starter homeownership cost was 97.8% higher than the median rental price. In all of the top 10 markets, renting was at least 52% more affordable than first-time buying.

    Only 11 metro areas favored first-time buying over renting in June. It was more economical to rent a home in Cincinnati than to buy one in January, but the economics flipped during the first half of the year. In June, Cincinnati’s monthly starter home costs were $14 less than rental prices.

    Pittsburgh is the most economical rental market in the top 50, with ownership costs averaging 33% less than rental costs. It’s followed by Birmingham and St. Louis.

    People in three-quarters of the 50 largest housing markets are better off continuing to rent than becoming a first-time home buyer, according to a new anal...

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      FTC reminds student loan borrowers that waivers for forgiveness end October 31

      It’s a simple process, but the agency is ready to answer any questions

      The Federal Trade Commission (FTC) is reminding student loan borrowers that they have until October 31 to submit an application for the Public Service Loan Forgiveness (PSLF) Limited Waiver. The waiver has already proven its worth to thousands of student loan borrowers who have used it to get closer to total loan forgiveness. 

      The FTC says there are two groups that the waiver benefits the most: (1) people who have Federal Direct Loans or can consolidate other types of federal student loans into a Direct Loan by October 31; and (2) those who have a work history with qualifying public service employers.

      Until that October 31 deadline, securing a waiver gives borrowers credit for repayment periods that previously wouldn’t have counted. Those would include the following times:

      • When a borrower didn’t make a payment

      • When a borrower didn’t make a payment on time

      • When a borrower didn't pay the full amount due 

      • When a borrower wasn't on a qualifying repayment plan

      The steps to take advantage of the waiver

      Here’s the short version of how consumers can take advantage of the waiver:

      • Log into the borrower’s Federal Student Aid account. The borrower should use their Federal Student Aid ID to access Studentaid.gov and complete the PSLF Limited Waiver requirements.

      • Submit the PSLF form. Consumers can use the PSLF Help Tool to verify the current and past employment that they want credit for and submit the PSLF form.

      • Confirm (or consolidate into) Direct Loans. The waiver only applies to Direct Loans, so borrowers need to consolidate their existing federal loans by October 31, 2022. The process is free through studentaid.gov. If someone is unsure about what types of loans they have, all they have to do is take a look at their FSA Aid Summary.

      If there are questions that the instructions for those steps don’t answer, borrowers can go to StudentAid.gov's comprehensive list of FAQs to help find the answers they’re looking for.

      The Federal Trade Commission (FTC) is reminding student loan borrowers that they have until October 31 to submit an application for the Public Service Loan...

      Coronavirus update: President Biden tests positive for COVID-19

      High blood pressure increases the risk of getting sick

      COVID-19 ‌tally‌ ‌as‌ ‌‌compiled‌‌ ‌by‌ ‌Johns‌ ‌Hopkins‌ ‌University.‌ ‌(Previous‌ ‌numbers‌ ‌in‌ ‌parentheses.)‌

      Total‌ ‌U.S.‌ ‌confirmed‌ ‌cases:‌ 90,200,438 (90,050,839)

      Total‌ ‌U.S.‌ ‌deaths:‌ 1,026,294 (1,025,755)

      Total‌ ‌global‌ ‌cases:‌ (566,902,282) 567,979,761

      Total ‌global‌ ‌deaths:‌ 6,380,915 (6,381,090)‌

      President reportedly doing well after testing positive

      President Biden is isolating at the White House and is said to be sufferingly fairly mild symptoms after testing positive for COVID-19 on Thursday. Biden, who is 79, said he is suffering from a runny nose and a dry cough.

      Aides say the president is being treated with the antiviral drug Paxlovid, which has been shown to be highly effective against COVID-19 when taken early. He was shown in a video Thursday in the White House residence.

      “I’m doing well, getting a lot of work done, going to continue to get it done,” Biden said in the video. “And in the meantime, thanks for your concern, and keep the faith. It’s going to be okay.”

      High blood pressure increases risks, study finds

      There are many factors that go into a COVID-19 patient’s risk of a severe outcome. Cancer is one risk factor, and so is obesity.

      Doctors at Cedars-Sinai Medical Center in Los Angeles say people with high blood pressure also appear to have an increased risk of hospitalization if they get COVID-19. High blood pressure "was associated with the greatest magnitude of risk," doubling the chances of hospitalization.

      Their study of COVID-19 patients who were fully vaccinated and boosted showed that the risk for severe symptoms was also higher in people with well-established risk factors such as older age, heart failure, or kidney disease.

      Mask mandates probably won’t return, health expert says

      All across the U.S., cases of COVID-19 are on the rise. The Centers for Disease Control and Prevention (CDC) places the vast majority of U.S. counties in the “high risk” category.

      Despite the surge, few jurisdictions have reimposed indoor mask requirements. Chicago Department of Public Health Commissioner Dr. Allison Arwady says that's because the current strain that is causing infections is less severe. She also says hospitalizations, while rising, are under control.

      “I do not anticipate a mask and indoor mask mandate requirement coming soon. Where we would put an indoor mask requirement back in place is if we’re seeing our health care system getting threatened,” Arwady said.

      Around the nation

      • New Jersey: State health officials report that the increase in COVID-19 cases has pushed hospitalizations to a four-month high. The seven-day average for confirmed positive tests is 2,829, a 1% increase in the past week and a 30% increase from a month ago.

      • Colorado: The Colorado Department of Public Health and Environment is cutting back on its regular reports on COVID-19 outbreaks. Health officials say they expect COVID-19 to be around for the foreseeable future but that the current subvariants are much less severe.

      • Texas: Gov. Greg Abbott has renewed the state’s COVID-19 disaster declaration, first issued in March 2020. The proclamation says a “state of disaster” continues to exist in all Texas counties. “I authorize the use of all available resources of state government and of political subdivisions that are reasonably necessary to cope with this disaster,” Abbott said.

      • Michigan: Jermaine Rose, a former lead claims examiner for the Michigan Unemployment Insurance Agency (MUIA), was sentenced to two years in federal prison this week due to his participation in a $1.5 million pandemic-related unemployment insurance fraud scheme, according to U.S. Attorney Dawn N. Ison.

      • Virginia: More than half of the counties in the state are considered to have a high risk of COVID-19 transmission, according to the Mayo Clinic. Among the highest transmission areas in Virginia are Arlington, Alexandria, Falls Church City, Manassas Park City, and Stafford County, in the Washington, D.C. suburbs. 

      COVID-19 ‌tally‌ ‌as‌ ‌‌compiled‌‌ ‌by‌ ‌Johns‌ ‌Hopkins‌ ‌University.‌ ‌(Previous‌ ‌numbers‌ ‌in‌ ‌parentheses.)‌Total‌ ‌U.S.‌ ‌confirmed‌ ‌cases:‌ 90...

      FCC makes major move to crack down on 'auto warranty' robocalls

      The agency has given tips specifically for consumers who get robocalls and robotexts

      The Federal Communications Commission (FCC) is cracking down further on illegal robocalls, with regulators setting their sights firmly on auto warranty scam calls that have defrauded consumers for years.

      The agency is specifically serving notice to Roy Cox, Jr., Aaron Michael Jones, their Sumco Panama companies, and their international associates. Officials say that network has been the source of more than 8 billion robocalls.

      The Cox/Jones/Sumco Panama operation has been working the auto warranty angle since 2018. Officials accuse the entities of sending unlawful message calls that encourage consumers to speak with one of their “warranty specialists” about extending or reinstating their car warranty. 

      “We are not going to tolerate robocall scammers or those that help make their scams possible,” said FCC Chairwoman Jessica Rosenworcel. “Consumers are out of patience and I’m right there with them.”

      Rosenworcel means business when it comes to robocalls. Under her command, the FCC’s Robocall Response Team has rung up record-breaking spoofing and robocall fines, closed gateways used by international robocallers to reach Americans’ phones, and signed robocall investigation partnerships with 41 states, the District of Columbia, and Guam. 

      Rosenworcel was also quick to realize that robocallers would be moving to bogus robotexts when their operations were taken down. With that data in hand, she began work on policy proposals to combat these malicious messages before they spiral even more out of control.

      Going for the 1-2 punch

      The FCC isn’t going at this alone. Ohio Attorney General Dave Yost has added some extra muscle by filing a separate lawsuit against Sumco Panama and people connected to that operation. Yost may be the FCC's perfect partner when it comes to robocalls. He recently entered into a settlement with G4 Telecom Inc., a voice service provider that was carrying traffic for bad actors who engaged in nearly 180 million robocalls over the course of a year.

      Separately, the FCC and Yost doubled their chances of forcing telecoms to cut those robocalls off before they ever got to a consumer. Yost sent warning letters to 10 providers informing them about the “laws, regulations and enforcement actions that may bear upon their business activities.” If those service providers don’t take the steps Yost wants, he warned them that his office may pursue enforcement action. 

      The FCC sent out another eight cease-and-desist letters to voice service providers that the agency identified through tracebacks of those calls. Those letters warned the providers to stop any suspicious traffic within 48 hours and to report back with the exact steps they took.

      ConsumerAffairs reached out to Sumco Panama's listed agent of record, but the official did not immediately respond to a request for comment.

      Consumer tips

      The sneaky part of extended auto warranty calls is that while they purport to be focused on someone’s vehicle, they actually may be seeking consumers’ personal or financial information in order to defraud them. Scammers might try to initiate a payment or garner information about active phones with the data they collect on one of these calls.

      The FCC says consumers will have to stay vigilant against these threats until every telecom meets standards for blocking these calls and messages. Here are the agency’s tips: 

      • Don’t share. Whatever you do, don't provide any personal information to anyone that calls you unexpectedly.

      • Be aware. Telephone scammers are very good at what they do, and one of the tactics they may employ is using real information to imply that they work for a company you trust.

      • Don't trust Caller ID. Criminals might use “spoofing” to deliberately falsify the information transmitted.

      • Double check with real sources. If you think it might be a legitimate call, hang up and call the company that you have an established business relationship with by using a phone number from a previous bill or on its website.

      If you suspect that you've been targeted by scammers, let the FCC know so that the agency can respond accordingly. The best way to file a complaint is to go to the agency's robocall and robotext complaint site here.

      The Federal Communications Commission (FCC) is cracking down further on illegal robocalls, with regulators setting their sights firmly on auto warranty sca...

      Many shift workers struggle to adjust to an overnight schedule, study finds

      Experts say adjustments should be made to improve conditions for overnight workers

      A new study conducted by researchers from the University of Warwick is dispelling one of the biggest beliefs about working overnight shifts. While many consumers think it may just take time to adjust to this new schedule, the researchers found that this isn’t the case for all overnight workers

      “There’s still an assumption that if you do night work, you adjust at some stage,” said researcher Bärbel Finkenstädt. “But you don’t. We saw that most workers compensate in terms of quantity of sleep, but not in terms of quality during the work time.” 

      Risks of shift work

      The researchers conducted their study on two groups of hospital workers – one group worked the night shift for three or more nights per week, and the other group alternated between morning and afternoon shifts. All participants wore devices that tracked their sleep, circadian rhythms, and surface temperature. 

      After analyzing the results from the wearable devices, the team identified significant differences between night shift workers and day shift workers. Night shift workers had poorer sleep quality, and nearly 50% of them experienced disruptions to their natural circadian rhythms. 

      These findings held up regardless of how long the participants worked night shifts. Participants who had been on that assignment for years were experiencing poorer sleep, and the longer they did night work, the worse their outcomes were. 

      “Nearly 20% of the night workers could not even adjust their circadian rhythms during their free time, with the severity of impairment tending to increase with the number of years in night work,” said researcher Francis Lévi. “The telemonitoring technology, and analysis methods we have set up make it now possible to objectively evaluate circadian and sleep health in night workers in real time, and design prevention measures for individual workers whenever necessary.” 

      While working nights is unavoidable in many industries, the researchers say it’s important that efforts are taken to ensure that workers are prioritizing their health as best as they can. 

      “I think there’s a misunderstanding that night shift work is just an inconvenience, whereas it can be linked to serious health risks,” said researcher Julia Brettschneider. “We can’t avoid shift work for many professions, like health care workers, so we should be thinking about what can be done in terms of real-world adjustments to improve working conditions and schedules of shift workers. A better understanding of the biological mechanisms helps to find answers to this question.” 

      A new study conducted by researchers from the University of Warwick is dispelling one of the biggest beliefs about working overnight shifts. While many con...

      Fitness trackers may motivate consumers to get physically active, study finds

      The wearable devices were found to promote around 40 more minutes of activity each day

      Many consumers are interested in improving their physical fitness, and a new study conducted by researchers from the University of South Australia has made a case for the benefits of wearable fitness trackers. Their findings showed that the devices are effective at boosting consumers’ physical activity by increasing daily walking by as much as 40 minutes. 

      “The overall results from the studies we reviewed show that wearable activity trackers are effective across all age groups and for long periods of time,” said researcher Ty Ferguson. “They encourage people to exercise on a regular basis, to make it part of their routine and to set goals to lose weight.” 

      Improving physical fitness 

      The researchers analyzed data from nearly 400 studies that included information on 164,000 people. All of the studies included data on wearable activity trackers (WATs) and how they affected the study participants’ activity habits. 

      Ultimately, the researchers learned that the devices were effective at promoting more physical activity. When wearing a fitness tracker, participants were likely to walk around 40 more minutes per day. 

      The researchers found that this boost in physical activity was also linked with weight loss. In five months, the extra walking was linked with an average weight loss of 1 kg, or 0.5 lbs. Though this number may seem small, the team explained that it can actually be meaningful long-term. 

      “The average person gains about 0.5 kg a year in weight creep, so losing 1 kg over five months is significant,” Ferguson said. 

      The researchers explained that the benefits of WATs may also go beyond physical activity and weight loss. Their work showed that the devices can allow consumers to improve symptoms related to anxiety and depression, as well as lower their cholesterol and blood pressure.

      Many consumers are interested in improving their physical fitness, and a new study conducted by researchers from the University of South Australia has made...

      Gas prices remain in a freefall

      The national average price is down another 16 cents a gallon

      Oil prices are down, and so is demand for gasoline. As a result, the price at the pump continued its welcome slide this week.

      AAA’s daily fuel price survey shows that the national average price of regular gas is $4.41 a gallon, 16 cents lower than last Friday and 54 cents less than a month ago.

      The average price of premium gas is $5.16 a gallon, also 16 cents less than a week ago. The average price of diesel fuel is $5.45 a gallon, 12 cents less than last week.

      Patrick DeHaan, head of petroleum analysis at GasBuddy, notes that Libya is ramping its oil production back up and could provide 1.2 million daily barrels to the world’s oil supply. At the same time, he says total U.S. oil stocks are down more than 66 million barrels from a year ago.

      Many states saw double-digit declines in average pump prices this week. The statewide average price of regular gas fell by 19 cents a gallon in Kentucky and Tennessee; 18 cents in Texas; 17 cents in Illinois, Alabama, and Arkansas; 16 cents in South Carolina; 15 cents in North Carolina, Alaska, Georgia, and Utah; and 14 cents a gallon in California, Arizona, Mississippi, and Louisiana.

      States with the most expensive gas

      These states currently have the highest prices for regular gas, according to AAA:

      • California ($5.81) 

      • Hawaii ($5.59)    

      • Alaska ($5.27)   

      • Oregon ($5.23)  

      • Nevada ($5.20)    

      • Washington ($5.18)  

      • Idaho ($5.08)  

      • Utah ($4.98)       

      • Illinois ($4.91)    

      • Arizona ($4.75)   

      States with the cheapest gas

      AAA reports that these states currently have the lowest prices for regular gas:

      • Texas ($3.95)  

      • South Carolina ($3.95)   

      • Georgia ($3.96)  

      • Mississippi ($3.98)    

      • Alabama ($4.01)   

      • Louisiana ($4.02)    

      • Tennessee ($4.02)  

      • Arkansas ($4.03)  

      • Kentucky ($4.09)    

      • North Carolina ($4.10)   

      Oil prices are down, and so is demand for gasoline. As a result, the price at the pump continued its welcome slide this week.AAA’s daily fuel price sur...

      Ford recalls model year 2022 Explorers and Lincoln Aviators

      The engine rails may have been improperly heat-treated

      Ford Motor Company is recalling 1,000 model year 2022 Explorers and Lincoln Aviators.

      The engine rails may have been improperly heat-treated.

      Improperly heat-treated engine rails may reduce the vehicle's structural protection in a crash, increasing the risk of injury.

      In addition, an engine rail may detach and contact the road while the vehicle is moving, increasing the risk of a crash.

      What to do

      Dealers will perform an engine rail strength test and replace the rails -- as necessary -- free of charge. If the engine rails require replacement, owners will have the option of a vehicle replacement or buyback.

      Owner notification letters are expected to be mailed on August 1, 2022.

      Owners may contact Ford customer service at (866) 436-7332. Ford's number for this recall is 22C13.

      Ford Motor Company is recalling 1,000 model year 2022 Explorers and Lincoln Aviators.The engine rails may have been improperly heat-treated.Imprope...

      Toyota recalls model year 2022 Tundras and Hybrids

      The rearview camera may malfunction

      Toyota Motor Engineering & Manufacturing is recalling 31,428 model year 2022 Tundras and Tundra Hybrids equipped with a Panoramic View Monitor system.

      Incorrect programming of the parking-assist electronic control unit (ECU) software may cause the front camera image to appear on the multimedia display instead of the rear camera image when the shifter is placed into reverse.

      A rearview camera that fails to display the correct image can reduce the driver's rear view, increasing the risk of a crash.

      What to do

      Dealers will reprogram the parking assist ECU free of charge.

      Owner notification letters are expected to be mailed on July 27, 2022.

      Owners may contact Toyota customer service at (800) 331-4331. Toyota's number for this recall is 22TA07.

      Toyota Motor Engineering & Manufacturing is recalling 31,428 model year 2022 Tundras and Tundra Hybrids equipped with a Panoramic View Monitor system.I...

      USPS increases electric vehicle fleet goal to 40%

      Officials say the change reflects the agency's modernization efforts

      The U.S. Postal Service (USPS) appears to have had a change of heart about electric vehicles. A year ago, the agency pushed back against President Biden’s federal EV goals, but it said on Wednesday that it now plans to make 40% of its new trucks electric, up from its original projection of 10%.

      The Postal Service said it has determined that there is a “compelling need” and that it will make adjustments if it wants to continue to modernize and refine all that it does from routes to infrastructure.

      The proposed expanded fleet mix will now include 41,000 electric vehicles, as well as purpose-built Next Generation Delivery Vehicles (NGDVs) and commercial off-the-shelf (COTS) vehicles.

      Responding to pressure

      The Postal Service’s change of heart might also have something to do with lawsuits and challenges from various groups, states, and lawmakers that have been directed at Postmaster General Louis DeJoy. For example, legislators have stated that they want the Postal Service’s fleet to be 75% electric, a number they felt achievable after the Office of Inspector General determined that more than 95% of delivery routes in the U.S. are acceptable for electrification. There have also been serious environmental concerns. 

      "Postal delivery routes are stop-and-go by nature, which means that gas-powered delivery vehicles idle just outside people’s homes for much of the day. This daily pollution impacts nearly every single resident in the country," three environmental groups said in a separate lawsuit against DeJoy. 

      "But the harmful effects of this pollution are felt most significantly by low-income communities of color, which are often forced to breathe compounding sources of pollution."

      One last hurdle

      The only hurdle left for the USPS to jump over before locking in the added electric vehicles to its purchase order is a public hearing in August. In its request for public comment, the agency said electrifying part of its fleet is just a start.

      “Over the next ten to fifteen years, the Postal Service intends to pursue a multiple step acquisition process in our longer term efforts to fully replace our aging delivery fleet, and in that regard anticipates evaluating and procuring smaller quantities of vehicles over shorter time periods,” the USPS said. 

      Agency officials said they are open to any ideas the public has about environmental concerns or potential alternatives they should consider in terms of pricing, operational capabilities, and market availability. Details on how to offer those suggestions are available here.

      The U.S. Postal Service (USPS) appears to have had a change of heart about electric vehicles. A year ago, the agency pushed back against President Biden’s...

      Home sales fell in June, but prices kept going up

      Rising mortgage rates have cut into home affordability

      With rising mortgage rates cutting into home affordability, sales of existing homes fell in June for the fifth straight month. But despite the decline, the median price of a home hit another record high.

      The National Association of Realtors (NAR) reports that sales of all types of existing homes fell by 5.4% from May and were 14.2% lower than in June 2021.

      "Falling housing affordability continues to take a toll on potential home buyers," said NAR Chief Economist Lawrence Yun. "Both mortgage rates and home prices have risen too sharply in a short span of time."

      Despite the lack of buyers, sellers were able to get their asking price and more. NAR data shows that the median home sale price in June was $416,000. It was $406,000 in May and $366,900 in June 2021.

      An average of 14 days on the market

      Even though sales were down, homes spent less time on the market. In fact, the NAR said the average home spent only 14 days on the market last month – the shortest time since the organization began keeping records.

      With fewer sales last month, there are slightly more homes now on the market. The inventory of available homes, which has been constrained for at least five years, increased to a three-month supply.

      "Finally, there are more homes on the market," Yun said. "Interestingly though, the record-low pace of days on market implies a fuzzier picture on home prices. Homes priced right are selling very quickly, but homes priced too high are deterring prospective buyers."

      First-time buyers accounted for 30% of sales in June, an increase from 27% in May and down from 31% in June 2021. The NAR's 2021 Profile of Home Buyers and Sellers – released in late 2021 – reported that the annual share of first-time buyers was 34%.

      All-cash sales – which usually means the buyer was an investor – accounted for 25% of June sales, the same share as in May and up from 23% in June 2021.

      The housing market is shifting

      Kathleen Murphy, an associate broker at Gibson Sotheby's International Realty in Boston, says the real estate market is at an inflection point.

      “The market we have now is similar to the market at the beginning of the pandemic because that market created uncertainty and, for many, anxiety,” Murphy told ConsumerAffairs. “The difference is now consumers are uncertain about the increasing mortgage rates and out of control inflation and less about vaccine availability and hospitalization.”

      Yun agrees that inflation is a wild card. If inflation continues on its current path, he says mortgage rates – now hovering just below 6% – will continue to rise.

      "Rates will stabilize only when signs of peak inflation appear,” Yun said. "If inflation is contained, then mortgage rates may even decline somewhat."

      With rising mortgage rates cutting into home affordability, sales of existing homes fell in June for the fifth straight month. But despite the decline, the...

      Following a healthy lifestyle may lower the genetic risk of a stroke, study finds

      Lowering your cholesterol and eating healthy foods are crucial to good heart health

      A new study conducted by researchers from the University of Texas Health Science Center explored how consumers’ lifestyles can affect their risk of stroke. According to their findings, adopting heart-healthy habits may help lower the genetic risk of having a stroke

      “Our study confirmed that modifying lifestyle risk factors, such as controlling blood pressure, can offset a genetic risk of stroke,” said researcher Myriam Fornage, Ph.D. 

      Promoting long-term heart health

      For the study, the researchers analyzed data from over 11,500 adults between the ages of 45 and 64. The team followed the group for nearly 30 years and tracked their cardiovascular health in seven key areas – smoking, diet, exercise, weight, blood pressure, cholesterol, and blood sugar. 

      While having a genetic predisposition to stroke certainly elevated the participants’ risk of having one, the study also showed that taking steps to live a healthy life can lower that risk. The researchers learned that stopping smoking, eating better, getting activity, losing weight, managing blood pressure, controlling cholesterol, and reducing blood sugar lowered the risk of stroke by as much as 45%; this was true regardless of how high participants' genetic risk for stroke was.

      However, the opposite was also found to be true. Participants with the poorest heart health increased their risk of stroke – especially when they had a genetically higher risk for the condition. Following the most healthy habits was linked with just over a 6% risk of stroke, whereas following the fewest healthy habits made strokes nearly 57% more likely. 

      Moving forward, the team hopes these findings can be helpful in identifying those who may have the highest risk of experiencing a stroke because of both genetic and cardiovascular factors. Making these lifestyle adjustments can help promote long-term heart health. 

      “We can use genetic information to determine who is at higher risk and encourage them to adopt a healthy cardiovascular lifestyle, such as following the AHA’s Life’s Simple 7, to lower that risk and live a longer, healthier life,” said Dr. Fornage. 

      A new study conducted by researchers from the University of Texas Health Science Center explored how consumers’ lifestyles can affect their risk of stroke....

      Jewelry chain settles charges that it ripped off military personnel

      Harris Jewelry will pay $34 million to affected consumers

      Harris Jewelry, a national retail chain, has agreed to settle charges brought by the Federal Trade Commission (FTC) and officials from 18 states. Regulators claimed that the company used deceptive sales tactics against U.S. active-duty service personnel.

      Under the terms of the settlement, the company will pay $1 million to the 18 states and provide $34 million in compensation to affected consumers.

      The complaint accused Harris Jewelry of deceptively marketing overpriced, poor-quality jewelry to members of the armed forces and including “protection plans” in the price without disclosing it.

      According to the FTC, the company falsely told customers that financing jewelry purchases through Harris would raise servicemembers’ credit scores. As part of the settlement, the company agreed to stop collecting $21 million in outstanding debt.

      Violation of the Military Lending Act

      The complaint also includes a charge that the jewelry company violated the Military Lending Act (MLA), the first time the FTC has taken action under that law. Under the MLA, interest rates charged to military personnel are capped at 36% APR.

      “Today’s action against Harris Jewelry shows that companies that target our country’s service members with false promises and deceptive sales practices will face serious consequences,” said Samuel Levine, director of the FTC’s Bureau of Consumer Protection. 

      New York Attorney General Letitia James led the 18 states’ investigation and called the company’s marketing efforts “abhorrent.” She said the Hauppauge, N.Y.-based company purposely located its retail stores near military bases.

      “Harris Jewelry claimed to serve and support our troops, but its business practices were entirely self-serving,” James said. “For years, Harris Jewelry misled military members and saddled them with thousands of dollars of debt.”

      James also said the company charged as much as $349 for a protection plan for its merchandise but did not disclose the charge to the buyer.  She said she received complaints about stones falling out of their settings, chains breaking, and the finish on the jewelry fading.

      ‘Operation Teddy Bear’

      James led a multi-state investigation that found servicemembers were enticed into retail stores through a marketing scheme dubbed “Operation Teddy Bear.” The scheme allegedly involved advertising teddy bears in military uniforms while promising charitable donations. 

      The investigation discovered there was no legal contract between the company and Operation Troop Aid, Inc., which Harris supposedly claimed to support. James said consumers were often given varying and conflicting information about the amount donated to the charity. 

      Under the consent order, Harris Jewelry will contact consumers entitled to refunds for the protection plans and must also post a notice on its website about the availability of refunds. Consumers who have specific questions about obtaining redress may contact the New York State Attorney General’s Office at (315) 523-6080.  

      Harris Jewelry, a national retail chain, has agreed to settle charges brought by the Federal Trade Commission (FTC) and officials from 18 states. Regulator...

      GM recalls Cadillac XT5s, XT6s, and GMC Acadias

      The rear suspension toe link may separate

      General Motors is recalling 736 model year 2022 Cadillac XT5s & XT6s, and GMC Acadias.

      The left-rear suspension toe link may have been tightened improperly, which could result in a loose or separated toe link.

      A loose toe link can separate and cause a loss of vehicle control, increasing the risk of a crash.

      What to do

      Dealers will inspect the left-rear suspension and replace the fastener if it is loose or missing free of charge.

      Owner notification letters are expected to be mailed on August 1, 2022.

      Owners may contact Cadillac customer service at (800) 458-8006 or GMC customer service at (800) 462-8782. GM's number for this recall is N222364330.

      General Motors is recalling 736 model year 2022 Cadillac XT5s & XT6s, and GMC Acadias.The left-rear suspension toe link may have been tightened imprope...

      Segway Powersports recalls Fugleman UTVs

      The cockpit rear panel between the seats and the cargo bed can overheat

      Segway Powersports of McKinney, Texas, is recalling about 1,100 Fugleman UT10E and UT10X Utility Terrain Vehicles (UTVs).

      The cockpit rear panel between the seats and the cargo bed can overheat and melt the plastic, posing a fire hazard.

      The firm has received ten reports of incidents, including seven incidents involving fire and three incidents with overheating. No injuries have been reported.

      This recall involves model year 2022 Fugleman UT10E and UT10X Utility Terrain Vehicles (UTVs) sold in various colors, including white, black, gray, and camo. “FUGLEMAN” decals are printed on the right and left rear side panels. The Segway logo is printed on the hood. The model number is located on the right and left rear side panels next to the Fugleman logo.

      The UTVs, manufactured in China, were sold at Segway Powersports authorized dealers (sellers of off-road vehicles) from November 2021, through May 2022, for between $14,400 and $16,700.

      What to do

      Consumers should immediately stop using the recalled UTVs and take them to an authorized Segway Powersports dealer for a free repair, which includes the installation of larger and additional heat shields.

      The firm has contacted all known purchasers.

      Consumers may contact Segway Powersports toll-free at (877) 628-0202 from 8 a.m. to 5 p.m. (CT) Monday through Friday or online for more information.

      Segway Powersports of McKinney, Texas, is recalling about 1,100 Fugleman UT10E and UT10X Utility Terrain Vehicles (UTVs).The cockpit rear panel between...