Seamus Roddy, Author at Semya-Moya

Americans’ Commutes are Better in the North and Midwest Than South and West, Study Finds

Seamus Roddy — Fri, 27 Oct 2023 19:08:53 +0000

Americans spend hundreds of hours and thousands of dollars per year to wake up early and sit in traffic. That’s the truth, as the average American is forced to spend an average of 234 hours and $8,189 commuting yearly.

Those statistics come from a study from Semya-Moya, which found that while commuting is a nationwide drag, some parts of the country enjoy better – and worse – commutes compared to the norm.

The study considered hours lost to traffic, the percentage of workers who work remotely, public transit availability, the time it takes to get to work, fuel and maintenance costs, and the condition of local roads, among other factors. Overall, the study found that the worst commuting cities in America are largely in the South and West – with less onerous commutes to be found in the North and Midwest.

Six of the 10 Worst American Commuting Cities Are in the South and West

Where bad commutes are concerned, the southern and western regions of the country have the unfortunate designation of being traffic-choked time sucks.

Of the 10 worst cities for American commuters, six are in Texas, Georgia, California, or Florida. Both Texas and California have two cities that are miserable for commuters: Houston and Dallas for Texas, and Los Angeles and Riverside for California. Also among the worst commuting cities in the country are sun-splashed Atlanta and Miami.

Living in one of the worst American cities for commuters has real costs for residents. Commuters in the bottom 10 cities spend, on average, 26% more of their income on commutes than the average U.S. commuter. Commuters in the bottom 10 cities also spend 17% more than the average American on fuel and 73% more on their insurance premiums.

Just consider some of the lowlights of the bottom 10 commuting cities. In Los Angeles, a commuter will lose an average of 95 hours to traffic, nearly double the national average of 51 hours. In Dallas, fuel costs run $978 – $215 more than the national average. In Miami, the average insurance premium clocks in at $3,938 – more than double the national average of $1,759.

In some of the cities ranked among the U.S.’s worst to commute, the method of transportation commuters choose can radically impact their experience. For example, New York is ranked the ninth worst commuting city, in large part because its residents lose 117 annual hours to traffic – the second-worst mark in the country. On the other hand, New York has the best public transit score in the country, with a glittering 89 out of 100.

Houston’s High Commuting Costs and Poor Roads Make it the Worst Place in America to Commute

According to Clever’s study, there’s no worse place to be an American commuter than Houston.

Texas may be known for energy production, but the average worker in Houston spends $933 per year on fuel – 22% more than the American average. After breaking the bank to fill up their tanks, Houstonians don’t have smooth driving ahead, as major roads in Houston are 53% more likely to be in poor condition than those in a typical American city.

Perhaps most unfortunate of all is that despite high property values, most people in Houston don’t have good options to avoid high fuel costs and crumbling roads when they commute. The study found Houston to have a poor public transit score of 36 – significantly lower than the average score of 42.

Quick Commutes, Low Costs, Limited Traffic Typify Best American Commuting Cities

Americans seeking opportunity were once told to “go West, young man.” Americans seeking a positive commuting experience should take different advice, and go to the North and Midwest.

According to the study, seven of the 10 best commuting cities in the U.S. are in the North or Midwest. Ohio alone has three of the 10 best American commuting cities in Columbus, Cleveland, and Cincinnati.

Cities in the North and Midwest tend to stand out on two commuting factors. The first is price. Low costs are enjoyable in all facets of life – from groceries to childcare to real estate – and many cities in the North and Midwest have low commuting costs.

Consider Columbus, in which the annual car insurance premium is $1,350, compared to the $1,759 national average. In Milwaukee, commuters spend $603 yearly on fuel – $160 less than the average American city. Cincinnati’s commuters keep more of their money in their pocket, retaining $754 more dollars every year than the average commuter in the U.S.

The second reason the North and Midwest offer pleasant commutes is saving time. Commuters in these regions spend less time in traffic. Throughout much of the North and Midwest, average one-way commutes are under 30 minutes. In Buffalo, the average one-way commute is only 22 minutes – a big part of why the City of Good Neighbors is the second-rated commuter city in the U.S.

The top-ranked city in the study, Salt Lake City, isn’t in the North or Midwest. Like other cities in the West and South with favorable commuter rankings, Salt Lake City is boosted in the study by the fact that many workers don’t commute at all. 12.5% of workers in Salt Lake City work from home – 29% more than workers in the average American city.

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Minneapolis Pedals Past Portland as the Best City for Cyclists

Seamus Roddy — Tue, 18 Jul 2023 20:30:33 +0000

Most Americans navigate their city by car, public transportation, or their own two feet, but they're missing out on a healthy, cost effective, and environmentally friendly way to travel.

Riding a bicycle — an activity largely associated with childhood — is now a common form of transportation in major American cities. Cycling has grown in popularity across the United States, but efforts to accommodate cyclists haven't spread evenly across all cities.

The East and West coasts are some of the best places to ride a bike, with many bikeways and trails for cyclists to cruise, according to a new Semya-Moya survey ranking the 50 best bike cities in the U.S.

In other cities, particularly those in the South, cyclists are just trying to avoid being clipped by oncoming traffic.

Top 10 Bike-Friendly Cities in the U.S.

Minneapolis, Minnesota
Portland, Oregon
San Francisco, California
Boston, Massachusetts
Washington, D.C.
Salt Lake City, Utah
San Jose, California
Denver, Colorado
Seattle, Washington
Providence, Rhode Island

In Minneapolis, miles of bike paths and ample bike share docking stations

America’s top cycling city is cold, snowy Minneapolis. Minneapolis might not have year-round sunshine, but residents who are willing to bundle up can enjoy 2.6 bike trails per 100,000 residents — a whopping 42% more than the average city.

"Over the years, the city has been embracing better, safer bicycling infrastructure and gradually transitioning streets from faded sharrows to buffered bike lanes to protected lanes," said Natalie Wagner, vice chair of the Minneapolis Bicycle Advisory Committee.

It’s not only easy to get around by bike in Minneapolis, it’s easy to find a bike. Minneapolis is blessed with nearly four times the number of bike share docking stations and 37% more bike shops than the average city.

Even in a cyclist's paradise, there’s room for improvement. Wagner said she hopes infrastructure for safe bicycle parking increases in commercial and residential neighborhoods.

"I want biking to be an easy option for new cyclists," she said.

In addition to protected bike lanes and trails, the City of Lakes has lowered its speed limit from 30 mph to 20 mph to reduce the threat to cyclists, said Casper Hill, a spokesman for the City of Minneapolis.

In the future, Hill said Minneapolis plans to further extend its network of neighborhood greenways and improve winter maintenance practices for year-round usability in a wintry climate.

"The best bike city recognition is great," Hill said, "but we aren’t done yet."

Portland loses top spot — despite bike shops, bike commuters

For cyclists who want to move to another bicycle-friendly city with a less frigid climate, Portland is the second-best bike city in America — falling from the No. 1 spot in 2022.

Portland may have ceded the top spot, but it still has the highest percentage of bicycle commuters in the country, with 1.1% of employees biking to work every morning.

Compared to the average American city, Portland has 61% fewer fatal crashes involving cyclists. It’s no wonder the people of Portland are more likely to commute to work by bike.

Portland also has three times more bike shops than the average city, with 3.5 per 100,000 residents, and three times more bike share docking stations, with 9 per 100,000 residents.

Washington, D.C., is the capital of cycling infrastructure

Washington, D.C., is the most bikeable city in America with a spectacular bikeability score of 92 out of 100.

Capital Bikeshare, the country's first bike share program, has played an important role in boosting the District's score. Over the past 13 years, the program has spurred the construction of more than 100 miles of bike lanes and the installation of nearly 2,000 bike racks.

Such extensive cycling infrastructure makes the District one of the safest places to ride a bike. D.C. records 59% fewer fatal crashes involving cyclists than the average American city.

In Denver, there's mile high enthusiasm for cycling

You know the Denver stereotypes: hiking, breweries, cannabis and…biking? According to Clever, bicycling is a Denver-certified hobby. In fact, the city ranks No. 1 in overall Google search activity for bike-related terms.

Denver residents search for the phrases "bicycle," "mountain bike," "bike trails," and "cycling" on Google more than residents in any other city. Plus, Denver residents don’t have to head into the Rocky Mountains to enjoy a good ride. Denver’s bikeability score of 72 out of 100 is 16 points higher than the average of 56.

Despite effort and investment, Memphis ranks as the worst American city for cyclists

Memphis has earned the ignominious designation as the worst U.S city for cyclists, even though the city has made strides to become more bike friendly.

Memphis’ cycling woes hinge on its low bikeability score and high rate of cyclist-involved fatal crashes. The city's fatal crash rate is 21% higher than the rate in the average U.S. city.

Memphis dropped four spots from Clever's 2022 ranking, which is undoubtedly frustrating for a city that has, for a decade, made real and substantial efforts to improve its bikeability. However, it still lags behind the rest of the country.

Nicholas Oyler, who spent nearly a decade as the bikeway and pedestrian program manager for the City of Memphis, disagrees with the city's distinction as America’s worst bike city.

"Since 2010, Memphis has grown its bikeway network from less than 1 mile of bike lanes to over 300 miles of on- and off-street facilities," said Oyler, who is now a planning manager for an architecture firm specializing in multimodal transportation.

Oyler said the city's investment in bike lanes started after Bicycle Magazine named Memphis the worst cycling city in the U.S. in 2008. Fifteen years and hundreds of new bike lanes later, Memphis still can’t pedal fast enough to keep up with the rest of the country.

Memphis’ inability to raise its cycling profile may actually be a positive sign for Americans who like life on two wheels. Even the worst American bike city still has hundreds of miles of bike lanes.

This article was produced by Semya-Moya and syndicated by Wealth of Geeks.

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Half of Millennials Have Cried During Their Home-Search Process. Here’s Why

Seamus Roddy — Tue, 06 Jun 2023 19:46:08 +0000

Millennials have been called the "snowflake generation" by people who think young adults are more fragile and less resilient than in the past. A new study of 1,000 home buyers conducted by Real Estate Witch may give more ammunition to those who roll their eyes at millennial sensitivity. A majority of millennials (51%) have been reduced to tears during the home-search process.

Crying about finding a home may seem extreme, but millennials encounter real barriers to homeownership. High borrowing costs, record inflation, limited savings, and debt all make it difficult for the average millennial to afford buying a home and achieve the American Dream.

High interest rates cause frustration as mortgage costs increase

For millennial home buyers, the ability to buy a home at a low mortgage rate now seems unrealistic.

At the start of 2022, the fixed rate for a 30-year mortgage was 3.2%. Since then, mortgage rates have more than doubled, and today's millennial buyers can expect a mortgage rate close to 7%.

It's no surprise, then, that nearly half of millennials (47%) say high interest rates are their most significant barrier to homeownership, according to Real Estate Witch.

The cost of borrowing has increased so dramatically because the Federal Reserve raised interest rates throughout 2022 to curb inflation and plans to continue the rate hikes in 2023.

As rising interest rates priced some millennials out of the market entirely, others accepted higher mortgage rates than they planned. In fact, the most common regret among millennial homeowners is that their interest rate is too high (22%), according to the study.

Nearly two-thirds of millennial homeowners (63%) are so unhappy with their mortgage rate that they plan to refinance when interest rates decline.

Inflation has surged, making home-buying more expensive

In addition to higher mortgage rates, persistent inflation has made home buying more expensive and taken its toll on millennials.

Nearly all millennials (92%) say the current level of inflation has affected their home-buying plans, according to Real Estate Witch.

Like other goods and services, inflation causes home prices to rise, too. Therefore, inflation simultaneously makes borrowing for a mortgage more expensive and keeps home prices at record highs.

Millennials are especially susceptible to this double whammy of high mortgage rates and high home prices because, unlike older generations, most don’t already own real estate.

Without money from a previous home sale, surveyed millennials worry that inflation will reduce their purchasing power and hinder their ability to pay for home repairs and unexpected costs of homeownership.

» MORE: 13 Ways Millennial Homeowners Can Save Money Every Month

Millennials’ limited savings lead to down payment woes

After entering the workforce during a recession, millennials have long struggled to match the net worth and savings of older generations. Millennials' savings have shrunk even more in the past year, making it more difficult to afford a down payment on a home.

As costs rose, millennials’ savings fell. More than half of millennials (54%) have less than $10,000 in savings, 10% have less than $1,000 saved, and 20% have no savings whatsoever, according to Real Estate Witch.

Lacking cash is always tough, but it's especially brutal when it’s time to buy a home. Financial planners recommend putting down 20% on a home. With the median home price costing $455,000, a standard down payment would be $91,000 – far more than most millennials can afford.

Millennials may be working themselves to the bone to catch up. According to the study, 38% of millennials are working a second job or side hustle to save for a down payment.

Debt has millennials concerned about qualifying for a mortgage

Not having much money makes home-buying difficult enough, and many millennials grapple with the additional challenge of substantial non-mortgage debt.

Eighty percent of millennials who plan to close on a home in the next year have non-mortgage debt, according to the study. Nearly half (46%) are $10,000 or more in debt, and 19% owe $50,000 or more.

Credit card debt, student debt, and medical debt are among the primary reasons more than 1 in 3 surveyed millennials (37%) worry about qualifying for a mortgage.

Most generations have student debt, but it's primarily associated with millennials. In fact, the study found that millennials (63%) are about twice as likely as boomers (34%) to say $10,000 in student loan forgiveness would significantly impact their home-buying experience.

Home-buying challenges make millennials think they’ll never achieve the American Dream

For all the struggles, frustrations, and tears, most millennials (77%) surveyed consider buying a home part of the American Dream.

That said, millennials’ home-buying challenges have soured their belief that the American Dream is achievable. More than 1 in 3 millennials (37%) don’t think buying a home is attainable for the average American, according to Real Estate Witch.

With more economic challenges on the horizon in 2023, millennials searching for a home are likely to shed more tears.

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10 Best vs. 10 Worst Cities to Buy a Home

Seamus Roddy — Sat, 20 May 2023 05:50:10 +0000

When it comes to buying a home, your experience in San Jose, CA is likely to be much different than in Pittsburgh, PA, according to new data from Home Bay.

In some cities, buying is affordable, accessible, and a normal rite of adult passage. In other cities, you’re more likely to be a long-term renter.

Learn the 10 best and 10 worst cities to buy a home.

10 Homebuyer-Friendly Cities

In some American cities, you’d be doing yourself a disservice if you didn’t at least seriously consider buying a home. Learn about the 10 most home-buyer-friendly cities in the U.S. and what makes them stand out.

1. Pittsburgh, PA

Pittsburgh gets flattering headlines for swapping steel and soot for universities and hospitals. Based on the study’s data, western Pennsylvania’s biggest city also gets high marks for buying a home.

Indeed, in Pittsburgh, the typical monthly mortgage payment is $1,233, the lowest of any major city. Monthly rent, meanwhile, averages $1,333, meaning that renters in Pittsburgh pay more in monthly housing costs than homeowners, who also build equity.

Pittsburgh’s low monthly mortgage payments are a result of the lowest average home price in the U.S., $188,419 – less than half of the $416,165 national average.

2. New Orleans, LA

New Orleans is good for more than Mardi Gras and jambalaya. In Home Bay’s study, it’s the second-best U.S. city in which to buy a home.

In New Orleans, the typical monthly mortgage payment is $107 less than the average monthly rent. That’s the most buyer-friendly monthly difference between mortgage and rent in the entire U.S.

New Orleans also has below-average home prices – $227,190 on average, which means that buying won’t break the bank.

3. Chicago, IL

Chicago is sometimes called the Second City, but it ranks third in the study of best places to buy a home in the U.S.

Chicago stands out with mortgage payments that are on average $46 fewer per month than rental payments. While homes in Chicago are more expensive than those in Pittsburgh and New Orleans, buyers can at least anticipate favorable long-term returns. Since 2016, the average Chicago home value has grown from $188,180 to $279,202.

4. Cleveland, OH

Cleveland has a low cost of living and a high ranking among the best American cities to buy a home.

Cleveland’s biggest selling point is price, as homes there only cost $200,015 on average. And Clevelanders who want to buy a home but aren’t quite ready don’t have to stress, as home prices have increased 64.4% from 2016 to 2023, which is below the average national home price growth of 78.1%.

5. Memphis, TN

Graceland isn’t for sale, but Memphis is still ranked as the fifth-best American city in which to buy a home.

Homeowners in Memphis pay $27 less per month on mortgage payments than renters pay to their landlords. Plus, monthly mortgage payments in Memphis are well below the national average at $1,462.

6. Miami, FL

Compared to cities such as Pittsburgh and Cleveland, home prices in Miami – which average $444,989 – are high. Regardless, Miami is ranked by Home Bay as the sixth-best home-buying city in the U.S.

Miami is a better city to buy than to rent because it has a low price-to-rent ratio, which is a measure used to evaluate the affordability of buying versus renting. Due to high rent prices, Miami’s price-to-rent ratio is 13 – among the lowest in the nation, cementing it as a buyer-friendly city.

7. Detroit, MI

So long as you can stand the cold, Detroit is one of the best places in America to buy a home. As with other Rust Belt cities on the list, Detroit’s buyer-friendliness is a result of lower-than-average home prices. The average home in Detroit only costs $223,022.

8. Oklahoma City, OK

Being a home buyer in Oklahoma City is more than OK. That’s because the typical monthly mortgage payment in Oklahoma City is only $1,424. Those low monthly mortgage payments are indicative of a low overall cost of housing in Oklahoma’s capital, as typical monthly rents there go for a rock-bottom $1,306 average.

9. St. Louis, MO

St. Louis is the ninth-best city in America to buy a home, according to Home Bay’s data. Home prices in St. Louis only average $221,941, and they don’t seem likely to skyrocket in the future. Since 2016, St. Louis’s home prices have increased by only 58.1%, which is among the lowest price increases in the nation.

10. Tampa, FL

Tampa is the tenth-best city in the country and the second-best city in Florida in which to buy a home, according to the study.

In Tampa, average monthly mortgage payments are less than $300 more than the average monthly rent, which indicates buyer-friendliness. But if you want to buy in Tampa, you probably want to do it quickly. Since 2016, Tampa home prices have risen by an astonishing 117.9% – tops in the country.

10 Cities Where Buying a Home is a Hassle

In some cities, it may feel as if winning the lottery is easier than buying a home. Here are the 10 worst home-buying cities in the U.S., according to Home Bay’s data.

1. San Jose, CA

San Jose may often be overshadowed by neighboring San Francisco and Oakland, but it stands a cut above them in one unfortunate designation: According to the study, it’s the single worst city in the U.S. to buy a home.

In 2023, San Jose’s price-to-rent ratio clocked in at 38 – more than three times Pittsburgh’s price-to-rent ratio of 12. The trouble in San Jose starts with a high average home price of $1,431,676, but it doesn’t end there. The study found that on average, to save for a down payment and mortgage payments in San Jose would take 450 months of rent payments. That’s nearly 38 years.

It may be easier to rent than buy in San Jose, but you might have to break your piggy bank. In addition to the highest home prices in the nation, San Jose has the highest average monthly rent prices – a whopping $3,181 on average. Still, renters in San Jose pay on average $6,190 less in rent than homeowners do on their mortgage payments.

2. San Francisco, CA

People seeking shelter from the home-buying woes in San Jose will need to go further than up the road to San Francisco, according to Home Bay’s study.

The study found San Francisco to be the second worst city to buy a home in America. Home prices in the Bay Area are brutal – with an average home price of $1,094,639, San Francisco is the only city other than San Jose with average home prices over $1 million. Plus, San Franciscans get barely any relief on their monthly mortgage payments, which clocks in at a $3,076 monthly average.

3. Seattle, WA

Things sure are tough for home buyers on the west coast. North of San Francisco and San Jose, Seattle comes in as the third worst home-buying city in the U.S. in the study.

Seattle’s average monthly home price – $689,871 – is substantially lower than in the two Bay Area cities. But Seattle is tough for buyers because home prices are rising fast. From 2016 to 2023, Seattle’s average home price rose by 84.2%, which is above the national average.

4. Denver, CO

Denver is the home of Rocky-Mountain-high home prices. Indeed, Denver’s average home price is $573,571. With high home prices come high monthly mortgage payments, and Denver is no exception, as homeowners pay $3,755 per month on average on their mortgage.

In Denver, renting is less expensive: The average monthly rent there is $1,950, which means renters pay close to $2,000 less per month for housing than those who buy a home.

5. Los Angeles, CA

In a sign of hard home-buying times in the Golden State, Los Angeles is the fifth worst city to buy a home in the U.S. and the third worst in California.

Interestingly, the study found that the three cities with the largest differences between monthly mortgages and rents were in California. Los Angeles isn’t as bad as San Jose and San Francisco, but buyers still pay a penalty compared to renters, as monthly rent is on average $2,802 less expensive than mortgage payments.

6. Salt Lake City, UT

In Salt Lake City, things are getting tougher for home buyers. From 2016 to 2023, home prices grew by 93.3%, nearly doubling the cost of buying a home. Plus, the difference between renting and buying in Salt Lake City is stark: It costs $1,686 more per month to pay a mortgage than rent a property, according to the data.

7. San Diego, CA

Sunny San Diego can feel gloomy if you’re trying to afford a home. That’s because San Diego has the fourth most expensive monthly mortgage in the entire country, with a $5,469 average payment. Amazingly, San Diego has the fourth most expensive monthly mortgage payments in the country and California, being outranked by only San Jose, San Francisco, and Los Angeles.

8. Portland, OR

In Portland, it’s much less expensive to rent than to buy. According to the study, the average monthly rental costs in Portland are $1,861. Average monthly mortgage payments? Try $3,459. That means homeowners pay about twice as much in monthly housing costs as renters.

9. Austin TX

Austin isn’t the biggest city in Texas, but it is the most difficult one in which to buy a home. The Home Bay study found that the average home price in the city once known for being funky and eclectic is approaching $500,000 and that the home-to-price ratio is an unflattering 22.

10. Sacramento, CA

The list of the 10 worst American cities to buy a home ends close to where it began: northern California. This time, it’s Sacramento, with an average home price of $552,756, checking in as a brutal home-buying locale.

California, with five of the 10 worst cities to buy a home, is the pits for home buyers. But if Americans feel as if they’re stuck renting, it’s understandable. In only five cities nationwide is it less expensive to pay a mortgage than rent, and across the country, home prices are increasing. Facing an uncertain economy and challenges paying down debt and balancing their budgets, Americans’ success at purchasing homes will likely be highly location-dependent.

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The Top 10 Best Cities for Beer in 2023

Seamus Roddy — Thu, 18 May 2023 19:07:24 +0000

Americans everywhere can appreciate a cold beer on a hot day, but some cities take their beer game to the next level.

A new study from Real Estate Witch used data to rank the best beer cities in the U.S. The report analyzed various beer-related metrics, including breweries and bars per capita, average beer price, Yelp ratings, and Google Trends data, among other factors.

So where are these heavenly lands of hops? Read on to learn more about the best cities for beer.

1. Pittsburgh, Pennsylvania

If you want to crack open a cold one, consider taking a trip to Steel City. The Real Estate Witch study found Pittsburgh to be the best beer city in the U.S., thanks to a high concentration of breweries and below-average prices.

Pittsburgh has 2.3 breweries per 100,000 residents — 77% more than the average American city. There are also 24.2 bars per 100,000 residents — well over the national average of 19 bars per 100,000 residents.

Pittsburghers also save money on their suds, as a beer in the Burgh costs $0.38 less than the national average.

The study found that Pittsburghers care strongly about their beer. Based on Google Trends search data, the city has a beer passion score of nearly 96 out of 100 — meaning that Pittsburghers might like beer even more than their beloved pizza.

2. Cincinnati, Ohio

From Pittsburgh, a beer drinker need only float down the Ohio River to reach the second-best beer city in America — Cincinnati. In Cincinnati, beer drinkers enjoy exceptional prices, as the average price of a beer in the Queen City is $4.15 — well below the national average of $4.78. Cincinnatians also exhibit enthusiasm for beer, with a passion score of 64 out of 100 and a particularly strong search emphasis for the phrase "lager." Based on the study, it’s a good thing that folks in Cincy have good coffee for the morning after.

3. Milwaukee, Wisconsin

America’s third-best beer city is another Rust Belt redoubt: Milwaukee.

Milwaukee has a baseball team appropriately named the Brewers and is the home of the Miller Brewing Company, so go figure that Milwaukee clocked an 88 out of 100 on the study’s beer passion score.

Even better, searching for beer in real life isn’t hard in Milwaukee, as the city has 38 bars per 100,000 residents — twice as many as the average American city.

4. New Orleans, Louisiana

Whether it’s Mardi Gras or not, New Orleans is a great city to grab a beer — fourth-best in the U.S., according to the study. In particular, New Orleans is an easy place to find brew, as it has the most bars per capita in the country with 60 per 100,000 residents. Favorable bar ratings on Yelp have helped New Orleans vault 44 spots from its 2021 ranking in America’s best beer cities and bring its beer up to the level of its brunch.

5. Denver, Colorado

It turns out that being a mile high makes it easier to get a good buzz — at least if you’re in Denver, America’s fifth-best beer city. Along with its renowned food trucks, Denver has a great brewery scene — with the second-most breweries per capita in the U.S. behind Portland, Oregon. No wonder Denver scores a 92 out of 100 on Real Estate Witch’s beer passion metric.

6. Louisville, Kentucky

Like the horses, beer drinkers in Louisville can go off to the races. The home of the Kentucky Derby is also the home of thoroughbred breweries. Louisville has more than double the national average of breweries, and they earn an average of 4.36 stars on Yelp, topping the typical city's rating of 4.24.

7. Indianapolis, Indiana

Indianapolis is a good place to have a good beer. That’s because the study found the music-filled bars in Indianapolis to be some of the best in the country, with an average of 4.23 stars on Yelp — higher than all but six of the 50 cities evaluated.

8. Nashville, Tennessee

You can have a honky-tonk beer-drinking time in Nashville, America’s eighth-best beer city. Nashville, already an awesome BBQ city, also comes through with beer, in part because it’s easy to find: Nashville has 31% more bars than the average city in the study.

9. Charlotte, North Carolina

The beer capital of the Carolinas is Charlotte. This Southern city is a surefire place to find a cold one. Charlotte has 46% more breweries per capita than the national average and the ninth-highest Yelp ratings for breweries in the country.

10. Minneapolis, Minnesota

The winters in Minneapolis might be long, dark, cold, and snowy, but if you visit, you’ll at least have beer to warm you up. The Real Estate Witch Study named Minneapolis as the 10th-best beer city in America.

The average price of beer in Minneapolis is lower than the national average, but the city’s excitement for beer sure isn’t, with a beer passion score that’s 11% higher than the national average.

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Americans’ Pessimism Darkens 2023 Economic Outlook

Seamus Roddy — Fri, 12 May 2023 23:22:05 +0000

Unemployment may be at a record low, but Americans have entered 2023 with a deeply pessimistic outlook about the economy.

In fact, 3 in 4 Americans (75%) worry there will be a recession this year, and 69% believe a recession is already here, according to a study of 1,000 Americans conducted by Clever’s sister site Real Estate Witch.

Americans aren't simply cynical about the current economy. A strong majority (80%) don’t expect the economy to improve this year, and 47% think the economy will get worse.

More than half of Americans say they’d lose everything in a recession

Talk of a recession comes up regularly at work, over coffee, and while watching the news. Data from Real Estate Witch suggests that for many Americans, simply hearing the word conjures images of destitution and despair – adding to pessimism about the economy.

The study found that more than half of Americans (55%) say they’d lose everything if the U.S. entered a recession.

A recession can be scary, but Americans’ economic ignorance may have them overhyping the personal consequences of one. About three-fourths of Americans (77%) say they know the definition of a recession, but just 15% actually do, according to the Real Estate Witch study.

A recession is a period of temporary economic decline, typically identified by a fall in GDP for two consecutive quarters. This can result in job loss and economic hardship that may make it difficult to afford basic goods and big purchases, such as a house.

However, in recent decades, a recession has not meant severe deprivation for most Americans.

Inflation fears stoke economic anxiety

Fears about a recession trace back to the country's ongoing struggle with inflation. Inflation reached a 40-year high in 2022, and more than 3 in 4 Americans (77%) worry that the cost of goods and services will continue to rise this year, according to Real Estate Witch.

The fear is that rising prices will have lasting consequences on consumers' lives, with 7 in 10 Americans expressing concern that price hikes could cause them to go into debt. Amid angst over rising prices, Americans are looking for ways to curb spending, find discounts, and save money.

Stubborn inflation is what motivated the Federal Reserve to raise interest rates and increase the cost of borrowing. More interest rate hikes are on tap for 2023, and there is widespread acknowledgement that higher interest rates could mean higher prices, depressed growth in the real estate market, and market crashes — with 80% of Americans expecting some sort of market crash this year.

Nearly half of Americans think the economy is worse now than during the Great Recession

Nearly all Americans (93%) think the economy was bad in 2022, but nearly half (44%) say the economy is worse now than during the Great Recession.

Americans’ negativity about the economy could be because of a myopic focus on present-day stress or simply a case of nostalgia — not realizing that during the Great Recession, the unemployment rate reached 10%, compared to 3.4% today.

Another theory is that the economic shock of the COVID-19 pandemic still lingers in Americans’ minds. In fact, the study found that more than half of Americans (58%) believe the economy won’t recover to pre-pandemic levels before 2024, while nearly 1 in 5 don’t think it will ever recover.

For everyday Americans, such sentiment could point to the gulf between economic statistics and lived reality. Americans’ wages are increasing, but it’s still extremely difficult to buy a home. The cost of groceries has also skyrocketed, and about two-thirds of Americans (66%) expect those prices to continue increasing in 2023.

» MORE: 20 Ways to Financially Prepare for a Recession

Americans question free-market capitalism amid economic concerns

A poor economic performance has more Americans, especially the young, questioning the country’s traditional capitalistic structure.

Fewer than 1 in 4 Americans (21%) think the U.S. economy performs best under capitalism, and about 1 in 8 (12%) say socialism would be a better alternative, according to Real Estate Witch.

Skepticism about capitalism is particularly acute among young Americans. Baby boomers (41%) are nearly twice as likely as Gen Z (23%) to view capitalism favorably.

Young Americans' problems with capitalism may be because of stagnating wages, high housing costs, and growing economic inequality.

Yet the study found that Americans of all political stripes and ages want the government to be more involved: 80% of respondents, including 78% of political conservatives, believe the government should do more to help Americans afford basic goods.

Whatever economic actions the government takes in 2023, it will have to contend with Americans’ deep pessimism about the economy’s future.

The post Americans’ Pessimism Darkens 2023 Economic Outlook appeared first on Semya-Moya.

Reality Check: 5 Misconceptions College Students Have About Their Starting Salary

Seamus Roddy — Thu, 04 May 2023 20:11:31 +0000

At the end of every semester, college students are given a grade for their academic performance. If they were graded on their knowledge of typical starting salaries after graduation, they'd receive an F.

The actual starting salary for entry-level workers is $55,911, but college students are so out of touch with reality that the minimum amount they'd accept at their first job is $72,580 on average, according to a new study published on Clever's sister site, Real Estate Witch.

If students' compensation demands weren't enough of a head-scratcher, they also have unrealistic assumptions about college, student loans, and their job search. Here are five major misconceptions college students have about the job market after graduation.

1. Students overestimate their starting salary by $30,000

College students might be good at partying or throwing a Frisbee, but they’re flat-out bad at estimating how much they’ll make at their first job.

Undergraduates expect to make $84,855 on average one year after they graduate, according to Real Estate Witch. That’s nearly $30,000 more than the actual starting salary of $55,911.

College students might wildly overestimate their starting salaries because of a tight labor market and major wage gains over the past few years.

With inflation pushing the cost of homes, gasoline, and everyday goods higher, students may also legitimately need more money to live comfortably.

But Gen Z seems to be taking note of recent headlines about layoffs and a cooling labor market.

Students in 2023 actually expect to make $19,000 less one year after graduation than they did in 2022.

2. College students expect to make double the average mid-career salary

College students’ delusions of grandeur aren’t limited to the early stages of their career. Zoomers anticipate making an average of $204,560 a decade after graduation, according to Real Estate Witch. That’s more than twice the $99,000 salary mid-career employees earn on average.

Of course, college graduates do earn more than workers without a degree, but Gen Zers envisioning a sports car, big house, fancy vacations, and early retirement on a six-figure salary are likely to be disappointed in the next decade.

3. All students overestimate their earnings, but the most unrealistic majors may be a surprise

Although 80% of undergraduates say they're aware of the typical salary range for professionals in their field, 78% overestimate what they'll make at their first-entry level job, according to Real Estate Witch.

Some majors are more likely to overestimate their earnings than others.

Liberal arts, psychology, and journalism are all courses of study with a reputation for low pay. College students in those majors have unrealistic salary expectations, but students who are the most prone to overestimate their future earnings major in a field associated with money itself: business.

Business majors expect to make $98,113 one year after graduation — twice the average starting salary of $50,200, according to the study. A decade after graduation, business majors expect to make an average of $223,679. The actual mid-career salary for business majors is less than $90,000.

4. College students don’t think they’ll ever have to work entry-level jobs

College students’ misconceptions about entry-level jobs don't stop at salary.

About 61% of undergrads believe they won’t ever have to work entry-level jobs because employers will recognize their potential and offer them senior-level positions right away, according to Real Estate Witch.

The irony is that many entry-level jobs actually require years of experience, making it difficult for students to land their first job. Forget about being hired as a manager. Once they start applying, zoomers might appreciate the opportunity to fetch coffee for superiors.

Gen Z also expects faster-than-average promotions. More than 3 in 4 college students (76%) think they’ll be promoted within the first year at a job, which is about two years earlier than average.

5. Undergrads believe their salaries will help them repay student loans faster

The standard loan repayment plan lasts 10 years, but with sky-high salary expectations, 94% of college students don’t think they’ll need a full decade to repay their loans. They’re wrong. It takes borrowers nearly 20 years on average to pay off student loans.

In this way, overestimating starting salaries doesn’t just affect students' short-term financial future. Failing to understand a normal entry-level salary could cause them to carry student debt into middle age, which may hinder their ability to buy a house, have children, or experience other life milestones.

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Young Americans Are More Stressed Than Ever Before. Here's Why.

Seamus Roddy — Wed, 05 Apr 2023 02:44:35 +0000

Once upon a time, the popular imagination held an image of the carefree, unconcerned young person. They partied, slept in and figured-it-out-later, while older people sat in traffic and stewed in cubicles.

Today, that reality has reversed — young Americans exhibit the largest levels of stress. About 65% of millennials and 64% of Gen Z adults say their stress is at an all-time high, compared to 43% of baby boomers.

The findings come from a new survey of 1,000 American adults from Semya-Moya, a company which regularly conducts personal finance surveys. The report found more than half of millennials and Gen Zers (55%) say they struggle to function because of stress, compared to 30% of baby boomers.

The full results show how financial obligations, workplace pressures, the presence of social media, and living in generally turbulent times all contribute to young Americans' stress.

Young Americans Face Formative Years in a Stressful Era

The survey data suggests Americans in general are experiencing more stress than at any point in the recent past, with young Americans particularly affected.

About 67% of Gen Z Americans, ages 18 to 26, and 64% of millennials, ages 27 to 42, say the past year has been the most stressful of their lives. And 45% Americans overall consider the 2020s the most stressful decade of the last 60 years.

Across all generations, 71% of Americans say they are now as stressed or more stressed than they were during the Great Recession.

Dr. Annia Raja, a licensed clinical psychologist, often treats millennials and Gen Z Americans. She said the aftershocks of the COVID-19 pandemic have compounded and adversely affected young people.

"(COVID-related) disruptions in education, the job market, and social lives have left many young people feeling uncertain about their futures," Raja said. "Lingering uncertainty greatly contributes to stress."

Costs, Debt, Housing Prices — The American Dream Gets Pricey

The American dream has long been associated with financial prosperity. For young Americans, the challenges of living up to this ideal may be adding to their stress.

Raja points out that millennials and members of Gen Z grapple with substantial debt — often from student loans — and struggle to achieve the financial stability and independence older generations have.

She also said inflation — which hit a 40-year high in 2022 — is sapping young people’s purchasing power.

According to Clever’s data, reduced purchasing power has real, health-altering consequences for young people. Nearly half of millennials (44%) say they’ve skipped meals to afford housing payments — more than twice the share of baby boomers (20%) who have done the same.

Americans — Especially Young People — Say Social Media Has Added to Stress

Young people are often parodied for frequently updating their social media followers on what they had for dinner and whom they’re dating this week. But according to Clever’s data, young Americans are conscious that social media can undermine their happiness.

Young Americans — the most active social media users — hold social media in the lowest regard: 69% of Gen Z Americans say social media has been bad for society, compared to 63% of baby boomers and 61% of Gen Xers.

Steve Carleton, a licensed clinical social worker in Denver, suggests that the impossibility for most young people of avoiding social media’s unrealistic expectations and pressures is making them stressed and sick of social media platforms altogether.

"Social media has become a place full of competition, comparison and judgment, which can be very draining for young adults trying to find their own path in life," Carleton said.

Employment and the Workplace More Difficult for Young Americans

Paying the bills means having a job, and Carleton traces back much of young Americans’ stress to their challenges obtaining employment.

"Young people today are competing in a much more globalized job market, with many more applicants for every job opening," he said. "Higher-ups can find the best candidate from almost anywhere, so there is a lot of intense pressure for young professionals that can be a huge source of stress."

Clever’s data is consistent with Carleton’s observations, as nearly two-thirds of Gen Z survey respondents (62%) say they are stressed about the job market — the largest share of any generation.

The survey also examined workplace issues, finding 57% of Americans are stressed about their pay and 47% are stressed about a poor work-life balance. Nearly a quarter of Americans (24%) cited stress due to discrimination in the workplace.

Those findings could be especially troubling for Gen Z and millennials, with both groups substantially more diverse than preceding generations. The report found Black workers were 41% more likely than white workers to cite a lack of diversity as a source of stress and 30% more likely to cite workplace discrimination as a source of stress.

Despite problems at work and at home, Americans overall still have some optimism. About 59% say they expect to be less stressed one year from now.

This article was produced by Semya-Moya and syndicated by Wealth of Geeks.

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11 Surprising Facts About the Cost of Maintaining a Home

Seamus Roddy — Mon, 13 Mar 2023 19:52:23 +0000

Inflation, rising mortgage rates, high home prices, low home inventory, economic uncertainty — buying a house isn't easy in the current market.

But those who already own a home are also struggling with costs, according to a new Real Estate Witch survey of 1,000 American homeowners.

In particular, many homeowners report that the cost of maintenance has transformed their home into a money pit. Here are 11 surprising takeaways about the cost of maintaining a home featured in the report.

1. The average homeowner spends thousands each year on maintenance

Maintaining a home is often a surprisingly expensive undertaking. In fact, the average homeowner spends $4,283 per year on maintenance, according to the study.

Maintenance is one of the largest annual expenses homeowners have to deal with apart from their mortgage. The average homeowner also spends $3,890 for home improvements, $2,795 for property taxes, and $1,516 for homeowners insurance each year. The only recurring non-mortgage cost that's more expensive than maintenance is utilities, averaging $4,975 per year.

2. Homeowners spend more than 200 hours a year on maintenance and improvements

Homeowners eventually learn that the cost of maintenance isn't solely a matter of dollars and cents. Indeed, the average homeowner spends 17.1 hours per month dealing with home maintenance, repairs, and improvements.

In total, the average homeowner spends 205 hours, or more than 8 full days, on maintenance every year. And skipping on these hours isn’t advisable, as neglecting maintenance today could mean a mountain of work tomorrow.

3. Most homeowners can't afford emergency repairs without going into debt

In a time of rising inflation, plenty of costs have Americans feeling short on savings.

Maintaining a home is no different. In fact, most homeowners (54%) in the Real Estate Witch study say they could not afford a $3,000 emergency repair without going into credit card debt.

Given that mold removal, water damage, foundation repair, siding repair, roof and termite damage, and fire and smoke damage can all run over $3,000, most Americans have no margin of error when it comes to affording home maintenance.

4. Many home buyers weren’t told the truth about maintenance costs

In addition to being expensive, the cost of maintenance often catches home buyers off guard.

About 34% of homeowners say that when they bought their home, the seller was not upfront about the cost required to keep up the property.

With demand for homes softer than past years, home buyers should consult their real estate agent to ensure sellers aren’t downplaying a home’s maintenance needs.

5. Homeowners would rather pay more for a home than deal with maintenance issues

Take it from those who have been there: It’s better to pay now than later.

A significant majority of homeowners (71%) say they would prefer to pay for a more expensive house with fewer maintenance issues, rather than get a bargain on a less expensive home with more maintenance issues.

Remember: The cost of a home is not encapsulated by its purchase price. If you’re spending tens or even hundreds of thousands of dollars to maintain the home, today’s financial bargain will be tomorrow’s financial blunder.

6. Some homeowners don’t think their home is worth the maintenance costs

Paying to maintain a home is hard enough. For a substantial portion of homeowners, it’s compounded by the frustration of feeling that their home isn’t worth the continued investment.

Just under 1 in 5 homeowners (18%) say their home isn't worth the amount they spend on maintenance.

Buying and owning a home is an investment, so before committing to a mortgage, make sure you’re spending on a worthwhile property.

7. There’s nothing homeowners regret more than maintenance costs

Having a handle on maintenance costs is necessary to avoid buyer’s remorse.

The Real Estate Witch study found that 73% of homeowners have regrets about their home purchase. Of those with regrets, more than one-quarter (26%) say their home requires too much maintenance — making it the most common home-buying regret.

8. A portion of homeowners can’t even afford basic home maintenance

For some homeowners, times are tough enough that they can’t afford even basic home maintenance.

In fact, 1 in 7 (14%) homeowners say they can’t afford basic maintenance, a percentage which may continue rising with inflation and news of layoffs.

9. Owning a fixer-upper can be a nightmare

Home remodeling TV shows can make carpentry look like fun. But in real life, owning a fixer-upper is anything but glamorous. About 1 in 4 Americans surveyed (26%) say owning a home negatively affects their mental health.

The costs and challenges of significant repairs don’t help — fixer-upper owners are 67% more likely than other homeowners to say their house has negatively affected their mental health.

10. Almost every homeowner performs some maintenance on their home

If you’re in the market for a home, you're likely to hear the term "as is," which means a home that is move-in ready. But buying a home "as is" still requires maintenance work.

In the Real Estate Witch study, 97% of homeowners report performing at least some maintenance work on their home, which means there’s practically no way around upkeep.

11. Some maintenance tasks are far more common than others

Homeowners are much more likely to face certain maintenance tasks than others. For example, 55% of homeowners have had to complete painting or staining work. The most common forms of maintenance are:

Painting and/or staining (55%)
Plumbing (e.g., leaky faucet) (48%)
Major appliance replacement (42%)
Water heater issues (39%)
Roof issues (37%)
Electrical issues (36%)
Major appliance repair (32%)
HVAC issues (e.g., furnace/air conditioning) (31%)
Gutter issues (27%)
Deck repair (25%)
Sewer/water line issues (20%)

Homeownership may be part of the American dream, but spending the time and money to paint, fix the roof, clean the gutters, or replace the dishwasher has some homeowners wishing they were more selective in the home-buying process.

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The Top 10 Best Cities for Pizza in 2023

Seamus Roddy — Tue, 21 Feb 2023 02:38:28 +0000

If you want to start a debate, ask someone about their favorite pizza. Is the best pizza shop the one around the corner or the one up the road? How about red sauce or white sauce? Plain or pepperoni? Deep dish or thin crust? Hot out of the oven or cold out of the fridge?

We're still waiting on the data to solve those pressing questions. But this week, we got the answer to another compelling question: What is the best pizza city in America?

A new study from Clever used data to determine which cities have the hottest pizza scenes. Let's take a look at the 10 cities that topped the best pizza list — and which city earned the unfortunate designation of being America’s worst pizza city.

#1 Pizza City — Detroit, MI

It’s known as the Motor City, but maybe they should call it the Pizza City. Detroit ranked first in Clever’s 2023 pizza rankings, with multiple factors vaulting it to the top.

Worried about high prices? You can get great pizza in Detroit without breaking the bank, as the average price for a large cheese pizza is $14.83 – 27% cheaper than the average nationwide price.

Along with top-notch pizza joint reviews, Detroiters demonstrate their pizza passion through sky-high pizza-related internet search activity. No city searches for pizza like Detroit, making it a must-stop for pizza lovers.

#2 Pizza City — Hartford, CT

For some, Hartford might have a reputation as a rest stop on a drive between Boston and New York, but according to Clever's study, it should be known as America’s No. 2 pizza city.

Hartford has 15.5 pizza shops per 100,000 residents, and better yet, the pizza is unique: No city has higher online search volume for Neapolitan and Greek pizza.

Since the average cost of a large cheese pizza in Hartford is $15 — 25% cheaper than average — a slice of pizza and cup of coffee (also a Hartford specialty) won’t break the bank.

#3 Pizza City — Boston, MA

Bostonians take pride in their city’s patriotic roots — and the rest of the country is taking notice of Beantown’s top-notch pizza. Just consider that when Clever asked 1,000 people to name their top five pizza cities nationally, a full 15% included Boston.

In addition to a solid pizza reputation, Boston ranks highly for online searches of Greek pizza and pizza bagels.

#4 Pizza City — Phoenix, AZ

If you’re looking for an up-and-coming pizza hotspot, look no further than Phoenix. Indeed, Phoenix is Clever’s Most Improved Pizza City, having risen to fourth-best after ranking 42nd in last year's study. What’s nice is that Phoenix’s rising pizza profile won’t hurt your wallet. The average cost of a large cheese pizza is only $14.83.

#5 Pizza City — Philadelphia, PA

Philadelphians feeling down about their losses in the World Series and Super Bowl must stomach yet another close-but-no-cigar outcome — finishing fifth, not first, in the Clever pizza rankings.

Still, Philadelphians can take solace in their high number of pizza restaurants, with 11.5 per 100,000 people, compared to 8.4 per 100,000 in the average city Clever analyzed.

#6 Pizza City — San Diego, CA

Stay classy, San Diego, and enjoy a slice of pepperoni. San Diego’s pizza restaurants have the highest average Yelp rating (4.2 stars) of any city in Clever’s study, adding to the city’s good eats reputation. Plus, a large pepperoni pizza in San Diego is 19% cheaper than the national average.

#7 Pizza City — Denver, CO

You might get sick from the altitude in the Mile High City, but you won’t have to live without good pizza. Denver is the seventh-best pizza city in America, according to the Clever study, with the city’s pizza joints posting an impressive Yelp average of 4.1 stars.

#8 Pizza City — Miami, FL

Pitbull says what happens in Miami never happened, but he might be wrong as far as pizza is concerned. In fact, Americans remember the city's pizza fondly enough for 17% of them to rank Miami as a top five pizza city.

That positive reputation helped earn Miami the No. 8 spot as one of the best cities for pizza.

#9 Pizza City — Buffalo, NY

If you think all Buffalo has to offer is chicken wings, think again. Buffalo also loves pizza, as it has 17.9 pizza restaurants per 100,000 people — the most of any U.S. city and more than double the average city (8.4 per 100,000) in Clever's analysis

#10 Pizza City — Pittsburgh, PA

Apparently, living in Pittsburgh means having pizza on your mind. The Clever study found that Pittsburghers search the web for pizza more often than residents of any city except Detroit, and that Pittsburgh has the fifth-most pizza shops per capita of any city nationwide (15.3 per 100,000).

What’s America’s Worst Pizza City?

Sorry, San Antonians, but you’re just not living in a pizza paradise. In fact, San Antonio has a Google Trends pizza score that is four times lower than the nationwide average, and has some of the country's highest pepperoni pizza prices. At least San Antonio can still claim great BBQ, and cling to hope for a rise in the rankings next year.

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