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While the demand for weight loss drugs continues to surge, one Wall Street firm is betting that Americans' love for doughnuts is too strong to give them up. 
Truist Securities on Monday upgraded Krispy Kreme to buy from hold, with analysts led by Bill Chappell saying that the negative impact of the glucagon-like peptide 1 (GLP-1) drugs has already been reflected in the stock's current valuation.
HIMS & HERS ROLLS OUT WEIGHT-LOSS SHOTS MUCH CHEAPER THAN OZEMPIC, WEGOVY
Chappell said in a note that the firm's downgrade of Krispy Kreme last year was "due to the belief that the GLP-1 overhang on snack food companies would last for some time." However, Chappell said they believe "this thesis has largely played out." 
GLP-1 agonists are a class of Type 2 diabetes drugs that improves blood sugar control but may also lead to weight loss. Semaglutide, which is the active ingredient in Novo Nordisk's Wegovy and Ozempic, as well as tirzepatide, which is the active ingredient in Eli Lily's Mounjaro and Zepbound, are considered GLP-1 drugs.
They have surged in popularity in recent years as people touted the drugs' weight-loss effects. In turn, food executives are noticing some shoppers' habits are changing, but Truist analysts argue that American's sweet tooth isn't going away.
"To be clear, healthy-living, low-sugar diets, have been around for 30 years. From Atkins bars to protein bars to sweet potato chips, there have been hundreds of "better for you" snack alternatives offered by everyone from small startups to global packaged food companies," Chappell said. 
At the same time, he noted how the $69 billion U.S. indulgent snack market has continued to grow. 
WEGOVY, THE WEIGHT-LOSS MEDICATION, GETS FDA APPROVAL FOR USE AS HEART DISEASE PREVENTION DRUG
It underscores how Americans "want to eat healthy, but we like our sweets," he added. 
Krispy Kreme, in particular, is "more sheltered" than other areas of the indulgent sweet market. Chappell hinted that there will always be an occasion to pick up some doughnuts.
"Don't be the person who brings a vegetable platter to a 9-year-old birthday party or office gathering," he said. 
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So even if the "pie shrinks," the analysts believe that Krispy Kreme "has more than enough opportunity" to expand its share of the pie and consistently grow sales by a moderate single-digit to high single-digit percentage over the next few years. 

via: https://www.foxbusiness.com/lifestyle/ozempic-vs-krispy-kreme-wall-street-firm-bets-weight-loss-drugs-wont-beat-doughnut-sale

A California administrative judge on Monday set back Tesla as the electic carmaker fends off allegations from the state's top regulator that it falsely marketed its vehicles' self-driving feature.
Judge Juliet Cox of the state Office of Administrative Hearings (OAH) rejected Tesla's effort to have the lawsuit brought by the California Department of Motor Vehicles dismissed. The judge said that if the allegations are true, they would support enforcement action against Tesla.
In a five-page ruling, Cox said it was too early to dismiss the DMV case before a formal hearing. Tesla had argued a hearing was unnecessary since Cox had enough documents to review and rule.
The DMV sued in July 2022 over accusations that Tesla mislead customers about vehicles with Autopilot and Full Self-Driving Technology. Tesla vehicles "could not at the time of those advertisements, and cannot now, operate as autonomous vehicles," the lawsuit said, according to Reuters.
TESLA AUTOPILOT, SIMILAR AUTOMATED DRIVING SYSTEMS RATED 'POOR' BY SAFETY GROUP
If found liable, Tesla could have its license to sell vehicles in California suspended and be required to make restitution to Tesla owners who reside in the state.
Tesla did not immediately respond to a request for comment. The DMV told Reuters its claims will be formally reviewed before the OAH on Sept. 9.
TESLA DRIVER IN FATAL CRASH HAD REPORTED PROBLEMS BEFORE WITH 'AUTOPILOT' FEATURE
On May 15, a San Francisco federal judge rejected Tesla's bid to dismiss a proposed nationwide class action claiming it misled consumers into believing their vehicles would soon have self-driving capabilities.
Tesla, whose CEO Elon Musk relocated its corporate headquarters from Palo Alto in California to Austin, Texas in 2021, has faced federal probes into whether its self-driving technology might have contributed to fatal car crashes.
TESLA SETTLES LAWSUIT OVER AUTOPILOT CRASH THAT LEFT APPLE ENGINEER DEAD
In April, Tesla reached a settlement in a lawsuit over a 2018 fatal crash that killed an Apple engineer who was behind the wheel of his Model X while on Autopilot, when the car swerved into a barrier on a highway near San Francisco.
Federal prosecutors are separately examining whether Tesla committed fraud by misleading investors about self-driving, Reuters reported.
Tesla describes Autopilot as an "advanced driver assistance sytem" on its website that can match the speed of surrounding traffic on cruise control and assist with steering in clearly marked lanes. Tesla's Full Self-Driving Capability promises to let the car "drive itself almost anywhere with minimal driver intervention." 
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Features include guidance on highway on-ramp and off-ramps, automatic lane changes, automatic steering, acceleration and braking and obedience to traffic signals. 
But Tesla has warned that Autopilot does not excuse drivers from paying attention on the road, and the technologies "do not make the vehicle autonomous." 
Fox Business' Greg Wehner and Reuters contributed to this report.

via: https://www.foxbusiness.com/fox-news-auto/tesla-must-face-false-advertising-claims-against-autopilot-california-administrative-judge-rule

Elon Musk on Monday threatened to ban Apple devices at his respective companies if the tech giant integrated OpenAI at the operating system level. 
Writing on X, the Tesla CEO called the prospect an "unacceptable security violation." 
Should he follow through with the ban, Musk said visitors would have to check their Apple devices "at the door, where they will be stored in a Faraday cage." 
The comments came after Apple announced a slew of AI features across its apps and operating platforms and a partnership with OpenAI to bring the ChatGPT technology to its devices.
WORLD'S LARGEST WEALTH FUND TO VOTE AGAINST MUSK'S $56 BILLION TESLA PAY PACKAGE
Apple said it had built AI with privacy "at the core" and it would use a combination of on-device processing and cloud computing to power those features.
Musk said it was "patently absurd that Apple isn't smart enough to make their own AI, yet is somehow capable of ensuring that OpenAI will protect your security & privacy!"
ELON MUSK'S XAI SELECTS SOUTHERN CITY FOR 'WORLD'S LARGEST' SUPERCOMPUTER SITE
A community note under that tweet noted that Apple has created their own AI called "Apple Intelligence" and ChatGPT was an "additional feature within Apple Intelligence, is limited to Siri and Writing Tools and will require permission from the user for every use." 
Musk sued OpenAI, which he co-founded in 2015, and its CEO Sam Altman at the beginning of March, saying they abandoned the startup's original mission to develop AI for the benefit of humanity and not for profit.
He has also founded his own startup, xAI, in a bid to challenge OpenAI and build an alternative to the viral chatbot ChatGPT.
xAI was valued at $24 billion in its last funding round, where it raised $6 billion in series B funding.
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FOX Business has reached out to Apple and OpenAI for a response to Musk's comments. 
Reuters contributed to this report. 

via: https://www.foxbusiness.com/technology/elon-musk-blasts-apples-approach-ai-threatens-ban-devices-openai-integrated-operating-syste

A group of former and current OpenAI employees released a letter online expressing concerns about the effects and serious risks artificial intelligence (AI) technology could have on humanity.
The letter, which was posted on righttowarn.ai, was signed by five former OpenAI employees, a current and a former employee from Google DeepMind, four unnamed current employees at OpenAI and two unnamed former OpenAI employees.
The group said the risks AI poses range from "the further entrenchment of existing inequalities, to manipulation and misinformation, to the loss of control of autonomous AI systems potentially resulting in human extinction."
"AI companies themselves have acknowledged these risks, as have governments across the world and other AI experts," they wrote. "We are hopeful that these risks can be adequately mitigated with sufficient guidance from the scientific community, policymakers, and the public."
APPLE'S WWDC TO BE AI TURNING POINT FOR TECH GIANT
The group says AI companies have strong financial incentives to avoid effective oversight as well as substantial information about the capabilities and limitations of their systems.
For instance, the companies have nonpublic information about the adequacy of their protective measures and the risk levels of different types of harm that could come as a result of AI advancements.
Daniel Kokotajlo, one of the group members and a former researcher in OpenAI's governance division, told the New York Times OpenAI is excited about building artificial general intelligence, or AGI, but they are "recklessly racing to be there first."
ZOOM CEO WANTS CUSTOMERS TO SEND THEIR AI-POWERED 'DIGITAL TWINS' TO FUTURE MEETINGS
Kokotajlo said he previously predicted that AGI could arrive by 2050, though after seeing how quickly the technology was advancing, he told the Times there is a 50% chance it could arrive by 2027.
He also said he believes the probability that advanced AI will destroy or cause catastrophic harm to humanity is 70%.
The group said they do not think the companies can be relied upon to share the information voluntarily.
"So long as there is no effective government oversight of these corporations, current and former employees are among the few people who can hold them accountable to the public," they wrote.
Confidentiality agreements prevent the members of the group from voicing their concerns, and they said ordinary whistleblower protections are insufficient, saying they focus on illegal activity. AI has yet to be regulated and, therefore, cannot be considered illegal activity.
APPLE UNVEILS 'APPLE INTELLIGENCE' AT WWDC
OpenAI told FOX Business it agrees with the letter's call for government regulation of the AI industry, as it was the first in the industry to call for such regulation.
The company also said they regularly engage with policymakers around the world and are encouraged with the progress being made.
An OpenAI spokesperson also said they have a track record of not releasing technology until the necessary safeguards are in place.
Because its products are used by 92% of Fortune 500 companies, safe and reliable systems are critical. The spokesperson said that if the products were not safe, the companies would not subscribe.
"We're proud of our track record providing the most capable and safest AI systems and believe in our scientific approach to addressing risk," the OpenAI spokesperson said. "We agree that rigorous debate is crucial given the significance of this technology and we'll continue to engage with governments, civil society and other communities around the world."
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"This is also why we have avenues for employees to express their concerns including an anonymous integrity hotline and a Safety and Security Committee led by members of our board and safety leaders from the company," the spokesperson added.

via: https://www.foxbusiness.com/technology/group-openai-colleagues-warn-race-ai-lead-human-extinctio

Dramatic images have emerged showing the front of an Austrian Airlines plane severely damaged after it flew through a hailstorm, forcing its pilots to make a "mayday distress call." 
A spokesperson for the airline told FOX Business that the Airbus A320 aircraft was flying from Palma de Mallorca in Spain's Balearic Islands to Austria on Sunday when it "encountered a thunderstorm cell during approach to Vienna, which according to the cockpit crew, was not visible on the weather radar." 
"As of now, the hail has damaged the two front cockpit windows, the aircraft nose, and some coverings. Due to the damage, a Mayday distress call was made," the spokesperson said. 
Photos taken after the plane landed safely show a portion of its nose peeled off. Marks also can be seen covering the windows of the cockpit. 
BOEING JET ENGINE SEEN SPEWING FIRE ON AIR CANADA FLIGHT: 'HEART IN MOUTH MOMENT' 
"All passengers on the flight were unharmed. The Austrian Airlines technical team is already tasked with assessing the specific damage to the aircraft," the airline told FOX Business. 
The airline added that "the safety of our passengers and crews is the top priority." 
Emmeley Oakley, a passenger identified by ABC News as being on board the flight, told the network that "I think we were about 20 minutes from landing when we got into a cloud of hail and thunderstorm, and the turbulence started." 
AIRLINE PASSENGER TRACKS DOWN STOLEN LUGGAGE TO AIRPORT WORKER'S HOME USING APPLE WATCH 
"We could definitely feel the hail coming down on the plane, and it was quite loud and super rocky for a minute," she added. 
Oakley told ABC News that some people inside the plane were screaming, but "the cabin crew did a really good job calming those people down though." 
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"It wasn't until we exited that we saw the nose was missing!" she also said. "The pilots really did an excellent job keeping things as smooth and safe as they could." 

via: https://www.foxbusiness.com/lifestyle/austrian-airlines-plane-severely-damaged-flying-through-hailstor

The interest rate on a 30-year fixed-rate mortgage is 6.875% as of June 10, which is 0.250 percentage points higher than on Friday. Additionally, the interest rate on a 15-year fixed-rate mortgage is 6.125%, which is 0.135 percentage points higher than on Friday. 
With mortgage rates changing daily, it's a good idea to check today's rate before applying for a loan. It's also important to compare different lenders' current interest rates, terms and fees to ensure you get the best deal. 
Rates last updated on June 10, 2024. Rates are based on the assumptions shown here. Actual rates may vary. Credible, a personal finance marketplace, has 5,000 Trustpilot reviews with an average star rating of 4.7 (out of a possible 5.0).
When you take out a mortgage loan to purchase a home, you're borrowing money from a lender. In order for that lender to make a profit and reduce risk to itself, it will charge interest on the principal - that is, the amount you borrowed.
Expressed as a percentage, a mortgage interest rate is essentially the cost of borrowing money. It can vary based on several factors, such as your credit score, debt-to-income ratio (DTI), down payment, loan amount and repayment term.
After getting a mortgage, you'll typically receive an amortization schedule, which shows your payment schedule over the life of the loan. It also indicates how much of each payment goes toward the principal balance versus the interest.
Near the beginning of the loan term, you'll spend more money on interest and less on the principal balance. As you approach the end of the repayment term, you'll pay more toward the principal and less toward interest.
Your mortgage interest rate can be either fixed or adjustable. With a fixed-rate mortgage, the rate will be consistent for the duration of the loan. With an adjustable-rate mortgage (ARM), the interest rate can fluctuate with the market.
Keep in mind that a mortgage's interest rate is not the same as its annual percentage rate (APR). This is because an APR includes both the interest rate and any other lender fees or charges.
Mortgage rates change frequently - sometimes on a daily basis. Inflation plays a significant role in these fluctuations. Interest rates tend to rise in periods of high inflation, whereas they tend to drop or remain roughly the same in times of low inflation. Other factors, like the economic climate, demand and inventory can also impact the current average mortgage rates.
To find great mortgage rates, start by using Credible's secured website, which can show you current mortgage rates from multiple lenders without affecting your credit score. You can also use Credible's mortgage calculator to estimate your monthly mortgage payments.
Mortgage lenders typically determine the interest rate on a case-by-case basis. Generally, they reserve the lowest rates for low-risk borrowers - that is, those with a higher credit score, income and down payment amount. Here are some other personal factors that may determine your mortgage rate:
Other indirect factors that may determine the mortgage rate include:
Along with certain economic and personal factors, the lender you choose can also affect your mortgage rate. Some lenders have higher average mortgage rates than others, regardless of your credit or financial situation. That's why it's important to compare lenders and loan offers.
Here are some of the best ways to compare mortgage rates and ensure you get the best one:
One other way to compare mortgage rates is with a mortgage calculator. Use a calculator to determine your monthly payment amount and the total cost of the loan. Just remember, certain fees like homeowners insurance or taxes might not be included in the calculations.
Here's a simple example of what a 15-year fixed-rate mortgage might look like versus a 30-year fixed-rate mortgage:
If you're thinking about taking out a mortgage, here are some benefits to consider:
And here are some of the biggest downsides of getting a mortgage:
Requirements vary by lender, but here are the typical steps to qualify for a mortgage:
Here are the basic steps to apply for a mortgage, and what you can typically expect during the process:
Refinancing your mortgage lets you trade your current loan for a new one. It does not mean taking out a second loan. You will also still be responsible for making payments on the refinanced loan.
You might want to refinance your mortgage if you:
The refinancing process is similar to the process you follow for the original loan. Here are the basic steps:
If you need to tap into your home's equity to pay off debt, fund a renovation, or cover an emergency expense, there are two popular options to choose from: a home equity loan and a home equity line of credit (HELOC). Both a home equity loan and a HELOC allow you to borrow against your home's equity but a home equity loan comes in the form of a lump sum payment and a HELOC is a revolving line of credit.
These two loan types have some other key similarities and differences in how they work:
Interest rates on mortgages fluctuate all the time, but a rate lock allows you to lock in your current rate for a set amount of time. This ensures you get the rate you want as you complete the homebuying process.
Mortgage points are a type of prepaid interest that you can pay upfront - often as part of your closing costs - for a lower overall interest rate. This can lower your APR and monthly payments. 
Closing costs are the fees you, as the buyer, need to pay before getting a loan. Common fees include attorney fees, home appraisal fees, origination fees, and application fees.
If you're trying to find the right mortgage rate, consider using Credible. You can use Credible's free online tool to easily compare multiple lenders and see prequalified rates in just a few minutes.

via: https://www.foxbusiness.com/personal-finance/todays-mortgage-rates-june-10-202

A Brazilian cow broke records after selling for more than $4 million at an auction, more than three times the last record holder's price. 
Weighing 2,400 pounds, Viatina-19 FIV Mara Movéis is twice as heavy as an average adult of her breed. Viatina-19 is the result of Brazil's years-long efforts to raise meatier cows so that more people will eat its beef.
Per the Guinness World Records, Viatina-19 sold for the equivalent of $4.38 million in Arandú, São Paulo, Brazil.
Prizewinners are sold at high-stakes auctions - so high that wealthy ranchers share ownership. They extract the eggs and semen from champion animals, create embryos and implant them in surrogate cows that they hope will produce the next magnificent specimens.
"We're not slaughtering elite cattle. We're breeding them. And at the end of the line, going to feed the whole world," one of her owners, Ney Pereira, told The Associated Press after arriving by helicopter to his farm in Minas Gerais state. "I think Viatina will provide that."
AMERICANS STILL NOT SOLD ON EVS DESPITE BIDEN PUSH, POLL SHOWS
Pereira's daughter, Lorrany Martins, said the hefty price stems from how quickly the cow put on vast amounts of muscle, from her fertility and how often she has passed those characteristics to her offspring.
Breeders also value posture, hoof solidity, docility, maternal ability and beauty. Those eager to level up their livestock's genetics pay around $250,000 for an opportunity to collect Viatina-19's egg cells.
"She is the closest to perfection that has been attained so far," Martins said. "She's a complete cow, has all the characteristics that all the proprietors are looking for."
Viatina-19's owner, Pereira, said she gets special treatment to boost egg cell production, but would thrive were she put to pasture - where almost all his elite cattle feed.
Viatina-19 is now pregnant and Pereira's is eyeing expansion. The cow's egg cells have sold to Bolivian buyers and Pereira wants to export to other countries like the United Arab Emirates, India and the US.
The Associated Press contributed to this report. 

via: https://www.foxbusiness.com/lifestyle/elite-cattle-heavy-cow-closest-perfection-fetches-millions-auction-breaking-world-record

Kia America is recalling more than 450,000 Telluride vehicles due to an issue that could cause the SUV to catch fire while parked or on the move.
The National Highway Traffic Safety Administration (NHTSA) announced the recall on its website on Friday. It involves 462,869 2020-2024 Telluride SUVs.
Kia also advised owners of the affected vehicles to park their Tellurides outside and away from structures and other vehicles until the recall repair is completed.
The issue is with the front power-seat motor, which could overheat if the power-seat slide knob is stuck. When the motor overheats, it could result in a fire and increase the risk of injury.
KIA RECALLS OVER 427 VEHICLES THAT COULD ROLL AWAY WHILE IN PARK
Kia told Fox News Digital there has been one localized underseat fire and six localized melting of a power-seat motor, though no crashes, injuries or fatalities have happened because of the issue.
Dealers will install a bracket for the power-seat switchback covers on recalled vehicles and replace the seat slide knobs free of charge.
Notices will begin going out to drivers of affected vehicles beginning on July 30.
MORE THAN 3.7M CARS ON ROAD HAVE 'PARK OUTSIDE' RECALLS, CARFAX SAYS
Included with the notice will be instructions to take the vehicle to a Kia dealer. Anyone with questions can call Kia's Customer Car Care Center at 800-333-4542 or their local Kia dealer.
This marks the latest in a growing list of recalls across the auto industry. It comes just months after Kia recalled more than 427,000 Telluride vehicles manufactured between 2020 and 2023, as well as some 2024 models, because of the potential the cars could move while in park.
NHTSA warned that the intermediate shaft and right front driveshaft on the vehicles "may not be fully engaged due to suspected improper assembly by the supplier." 
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Over time, the "partial engagement can cause damage to the intermediate shaft splines," which could "result in unintended vehicle movement while in park if the parking brake is not engaged," according to NHTSA.
FOX Business' Daniella Genovese contributed to this report.

via: https://www.foxbusiness.com/markets/kia-recalls-telluride-suvs-over-fire-risk-urges-owners-park-outsid

"Always the bridesmaid, never the bride." 
Oh wait, we were talking about home buying? Ah... always the renter, never the owner.
It's the way so many of us feel. We watch as our family members and friends buy homes, and we congratulate them with a housewarming gift in hand and a smile plastered across our face. We're happy for them-we truly are. But there's this nagging voice on the inside always asking, "Why not me? When will it be my turn? How in the world were they able to afford that?"
If we're being honest here, it's hard not to be flat out jealous of people who are able to buy a home in this market-or the folks who got in before interest rates went through the roof. Those lucky duckies. We can't help but feel that we're somehow behind in life's race to home ownership. And that, somehow, we've been dealt a bad hand or given a raw deal. I remember that feeling all too well. 
HOMES ARE OVERVALUED IN MOST OF THE US - AND THE PROBLEM IS WORSE IN THESE 5 STATES
Back in 2007, my husband, Sam, and I got married. Initially, we moved into his small town house. But within a year, instead of upgrading to a bigger home, we went "backward." We sold the town house-and all of our furniture-and moved into a one-bedroom apartment we could afford. 
Then, a year later, we took it a step further and rented a cheaper place where we could have roommates. That's right, we got roommates to help out with the rent. Two married people living with two other married people. I can hear some of you saying, "Awesome, that would be just like "Friends" or "Three's Company."
Nope. It wasn't. It was our rock bottom. Trust me, there's nothing awesome about living in a shared condo and sleeping on an air mattress while your friends are off buying houses and having babies. Talk about feeling behind in life! But we were racked with about $460,000 in consumer and student loan debt. We knew we wouldn't have peace about buying a home without first walking the journey to pay off all our debt and get to a healthy place financially.
RENTING IS SLIGHTLY CHEAPER THAN BUYING, PUSHING GEN Z TO RENT MORE OFTEN THAN BUY
For us, renting was a necessary step in the journey to homeownership. It bought us the time we needed to pay off our debt and save up to buy a home the right way. In truth, our goals were very simple in concept but very difficult to accomplish. But if we can do it, you can too. These were our goals:
1. Save $1,000 for an emergency fund.
2. Pay off all debt.
3. Save up 3-6 months of basic expenses.
4. Make sure we're playing with a stacked DECK.
Here's what I mean by DECK:
D. Down payment: Save at least 5%. (If you can hit 20% and avoid PMI, even better!)
E. Earnest money: You need to be prepared to put this money down up front when you make an offer to show you're serious about buying a home. (It will get applied toward your down payment when you close.)
C. Closing costs: These fees can be around 5% of the purchase price, and they're usually rolled into your mortgage loan. (This matters because it affects your monthly payment.) You can pay for these fees in cash or increase your down payment to offset them.
K. Keep in mind and save for miscellaneous expenses-like inspection, appraisal and the actual move!
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What made it most difficult for us was the timeline. These aren't goals you complete in just six months. Or even in six years. Saving money to do all these things when you don't have a ton of margin takes time. You need time to save and time to increase your income, so you can save more. It took us 10 years to complete everything on the list. Yep, we rented for 10 years. We went from hitting rock bottom in 2008 to turning the key to our first home in 2018.
If I could give you one piece of advice: Don't be afraid of long timelines. The time's going to pass, anyway. And you can spend that time being overwhelmed and jealous and pointing fingers at all the bad breaks you've endured, or you can spend that time getting busy building the future you desire. Trust me, comparison is futile. It only wastes valuable time and mental calories.
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Here's the thing: There will always be people "further ahead" than you (if that's even a thing). And there will always be times in life when wages aren't high enough, cost of living isn't low enough, and real estate conditions aren't as favorable as you'd like. But those things will hurt far worse if you don't have your finances under control.
If you're anything like me, the key to getting the keys to your first home likely involves a journey toward getting your finances in order. Even if you don't have debt, simply saving for a down payment at these prices will take time. But don't let time scare you away from your dreams. It might take longer than you want to get your house, but that's OK. Because when you get it, it will be far sweeter, and you'll be far more grateful and appreciative. 
Jade Warshaw is a personal finance coach, bestselling author of Money's Not a Math Problem, and co-host of The Ramsey Show. Jade has a professional background in entertainment and has performed in over 92 countries worldwide. Since paying off over $460,000 in debt with her husband, Sam, Jade's been helping others learn how to get out of debt and take control of their money. As a co-host of "The Ramsey Show," the second-largest talk radio show in America, Jade helps people take back their power by teaching them to shift their mindset and actions around money. Follow Jade on Instagram, Facebook, TikTok and X, or online at jadewarshaw.com.

via: https://www.foxbusiness.com/personal-finance/debt-out-eyeballs-how-dug-ourselves-out-bought-hom

In an economy where the cost of living doesn't seem to be relenting any time soon, some workers are super-commuting several hours for the financial payoff across state lines. 
Kyle Rice, a paramedic and father of two who works for a tech company in Manhattan, explained his super commute from his home in Delaware to Manhattan during an appearance on "The Big Money Show."

"In Delaware, we have a very low cost of living, so our insurance is lower, my mortgage is lower. We did refinance during the pandemic, so that helped a lot. But compared to prices in northern Jersey and especially here in the city, it's not even comparable," Rice said on Friday.
NYC 'SUPERCOMMUTER' AVOIDS HIGH RENT BY TRAVELING FROM OHIO HOME EVERY WEEK
Rice revealed that the cost to commute from Delaware to New York City is about $170 to $200 round trip, and the travel time is nearly two hours one way. 
A SUPER COMMUTER REVEALS THE LENGTHS HE WILL GO TO MAKE A REASONABLE WAGE, IS IT WORTH IT?
Co-host Brian Brenberg noted the various unforeseen obstacles that traveling by train can involve, including delays, rising ticket costs and cancelations. However, the super commuter doubled-down on his strategy, arguing that he "absolutely" saves money despite the train system's potential unreliability.
"It was a significant raise in pay for me from my job in Delaware to working here in Manhattan, so I'm making Manhattan money while living somewhere that doesn't have that cost of living that is expected to pay for it," he continued. 
WHY THE VIRAL TREND 'CHRONOWORKING' IS MAKING WAVES AMONG EMPLOYEES AND EMPLOYERS
"It was a pretty significant bump for my family. I mean, I'm still paying taxes, right? The city's triple tax at this point for me, but it's still enough that it was worth the commute. It's still worth the commute."
Rice said that with commuter benefits provided through work, Amtrak points and other cost-saving measures, the math made it clear that, overall, he was still saving money, even with travel costs. Additionally, he said he makes sure to pack food and snacks so that he can avoid paying extra on the train.
Brenberg cited a recent study by Bank of America that found there is an increased demand for suburban housing, suggesting that there is a growing desire to move out of cities and into their neighboring suburbs.
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"It's a lot of people in this generation because we know we can do it, right? Like, I learned that I can make this commute from watching someone else - another creator on TikTok - share their story of commuting, and I was like, 'If they can do it, I can do it.' I can put in for this job, I can make this kind of commute," Rice told Brenberg on Friday.
"The access to knowledge has been the biggest change for my generation and the generations coming behind me. They're learning that they can make these things, that the little bit of effort is worth it to get that extra money, and you can broaden your horizons... where you work, and where you can travel to and commute to."
Fox News Digital's Megan Myers contributed to this report. 

via: https://www.foxbusiness.com/media/super-commuter-touts-4-state-long-commute-nyc-making-manhattan-money-low-living-cost