Closing The Door On Homeownership
It’s no secret that the “American Dream” has long been associated with homeownership–but that dream seems to be changing. Homeownership among Americans is the lowest it has been in nearly three decades, according to The Wall Street Journal. Young professionals who entered the job market after the recession had little leverage and remain skeptical about investing in real estate, given that subprime mortgage loans were instrumental to a global crisis.
Those that have expressed interest are hesitant to pull the trigger due to the fact that home prices are rising sharply in many various cities. As a result, more adults in their 20s and 30s are living with their parents, and putting off owning a home.
Growing Credit Through Alternative Methods
Grow Credit, an LA-based fintech, wants those who don’t traditionally qualify for credit cards or loans to build credit through their Netflix dues, Spotify payments, and other online subscriptions, according to TechCrunch. The company is the brainchild of Joe Bayen and has brought on experienced executives such as Nick Roberts, former CMO of the investment app Acorns. Grow Credit is also in discussions with various banks to provide a secure line of credit.
Facebook Watch slowly luring in advertisers
Youtube has graduated from its days of prank videos and online spoofs. It is one of the most widely-used platforms in the world for content creators of all kinds, but Facebook Watch is giving the platform a run for its money, according to the Wall Street Journal. While Facebook Watch might not have the same numbers in terms of an audience, the company has been able to establish revenue due to high-production shows such as “Red Table Talk” and MTV’s “Real World” reboot.
Regulators want more clarity with Betterment
Betterment, the online digital wealth startup, launched online checking and savings accounts last week. It appears as though the company is now facing questions from regulators about the accounts themselves, as the product is quite “bank-like” but many lawmakers and agencies are unsure about how to currently handle fintech regulation, writes CNBC.
Betterment had also been in contact with both the Securities Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) for weeks before the products were launched.