Lucid’s base Air sedan gets a $7,500 reduction, now starting at $71,400 with shipping. The move comes after a $3,100 price cut on base Rivian models and a $1,000 discount on some Tesla Model Y trims.
By MATT OTT (AP Business Writer)
Fewer Americans filed for jobless claims last week as the labor market continues to show resilience in the face of elevated interest rates intended to cool economic growth in the U.S.
Applications for unemployment benefits fell by 8,000 to 212,000 for the week ending Feb. 10, the Labor Department reported Thursday.
The four-week average of claims, which quiets some of the week-to-week noise, rose by 5,750 to 218,500, up from 212,750 the previous week.
Weekly unemployment claims are seen as a proxy for the number of U.S. layoffs in a given week. They have remained at extraordinarily low levels despite efforts by the U.S. Federal Reserve to cool the economy.
The Federal Reserve raised its benchmark rate 11 times beginning in March of 2022 in an effort to bring down the four-decade high inflation that took hold after the economy roared back from the COVID-19 recession of 2020.
Though inflation has eased considerably in the past year, the Labor Department reported earlier this week that consumer prices remain well above the Fed’s 2% target.
Hyundai will increase production of its Sonata and Elantra sedans to help it achieve more growth in 2024.
A new study issued Thursday by motoring club AAA found reverse automatic emergency braking systems struggle to prevent crashes. In one test scenario, they only prevented 1in 40 collisions.
Q: Our condominium association recently passed a rather large special assessment to get some work done that we do not have enough money in reserve to cover. Times are tight, and some of our neighbors will have trouble paying. What happens if someone is unable to pay a large special assessment? — Wilmena
A: Many community associations have passed special assessments recently due to delayed maintenance and underfunded cash reserves. A special assessment is an expense charged to a homeowner by their association to cover unexpected expenses or to fund upcoming repairs or improvements. These assessments are typically levied in addition to regular monthly dues and can be significant. Depending on the community’s governing rules, they are typically voted on and approved by the association’s board of directors or the membership.
Ask a real estate pro: How can we find out about upcoming assessments before we buy a condo?
Homeowners in a community association, such as an HOA, condo, or co-op, who do not pay their regular or special assessments risk losing their home to foreclosure and having a personal money judgment against them. If their community takes legal or collection action, the homeowner will have to pay those costs, which include attorney fees, interest, and administrative expenses, on top of the assessment amount. These costs can be very high, and I have seen many cases where they are much higher than the unpaid assessment.