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Buying an older vs. new home might not be the answer to unaffordable housing

Buying an older vs. new home might not be the answer to unaffordable housing

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By Jeff Ostrowski, Bankrate.com

Homes are acutely unaffordable, a reality that’s pushing stressed-out buyers to consider fixer-uppers. While older homes might offer bargains upfront, there’s a catch: Aging properties saddle owners with maintenance costs that squeeze budgets and test patience. Homebuyers need nearly $117,000 in household income to afford a home, so buying an older one that needs work isn’t necessarily an ideal solution.

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How old are America’s homes?

America’s housing stock is graying. The median age of owner-occupied homes nationally climbed to 41 years old in 2023, up from 31 years in 2005, according to the U.S. Census Bureau. Put another way, the typical American now lives in a home built in the early 1980s or before. read more

Winter Park showstopper: Home has 18-car basement garage, reached by a secret elevator

Winter Park showstopper: Home has 18-car basement garage, reached by a secret elevator

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Basements are rare in Florida. A 6,200-square-foot basement with an 18-car underground garage reached by a cleverly disguised car elevator? Well … that’s a showstopper.

Such audacious design touches are why the National Association of Home Builders chose the 15,176-square-foot estate now under construction on Winter Park’s Lake Osceola as its showcase home for the 2026 International Builders’ Show.

Alair Homes Orlando is building the 43rd edition of the association’s centerpiece The New American Home, and the last in Orlando. The annual builder’s show will relocate permanently to Las Vegas in 2027.

The outdoor entertaining space features multiple fire elements lining the... The outdoor entertaining space features multiple fire elements lining the pool, a summer kitchen and a sunken living room with a fire pit. The owner will rebuild a small accessory building as a private, detached office in the backyard. (Rendering by Mills Design Group) courtesy of CNW Group/Alair Enterprises Ltd. The sloping lot presented a challenge to the design team... The sloping lot presented a challenge to the design team because the retaining wall and infinity pool could not be more than 5 feet above grade. (Rendering by Mills Design Group) The infinity pool overlooks the deep yard and dock on... The infinity pool overlooks the deep yard and dock on Lake Osceola. (Rendering by Mills Design Group) The summer kitchen has a grill, smoker and covered dining... The summer kitchen has a grill, smoker and covered dining area. (Rendering courtesy of Alair Homes Orlando) A separate 3-car garage with a second-story apartment will be... A separate 3-car garage with a second-story apartment will be placed in front of the main house on the narrow, .7-acre lot. The building will be adorned with a living wall and accented by a sculpture. (Rendering by Mills Design Group)

1 of 5 The outdoor entertaining space features multiple fire elements lining the pool, a summer kitchen and a sunken living room with a fire pit. The owner will rebuild a small accessory building as a private, detached office in the backyard. (Rendering by Mills Design Group) courtesy of CNW Group/Alair Enterprises Ltd.

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These homes are usually built on spec by local high-end home builders, then sold after the convention. But this year’s New American Home is being constructed for a private owner with a specific mission.

Jason Eichenholz, a serial entrepreneur, philanthropist and CEO of Relativity Networks, bought the 3/4-acre lot on Sylvan Drive through a family trust in 2021 for $2.8 million. read more

Tips for handling your finances in a time of economic uncertainty

Tips for handling your finances in a time of economic uncertainty

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By ADRIANA MORGA, Associated Press

NEW YORK (AP) — Financial markets are volatile. Consumer confidence is at its lowest level in five years. Economists say recession risks are rising.

It all adds up to financial uncertainty for a lot of Americans. Roughly half of U.S. adults say that President Trump’s trade policies will increase prices “a lot,” according to a recent poll by The Associated Press-NORC Center of Public Affairs Research. And about half of Americans are “extremely” or “very” concerned about the possibility of the U.S. economy going into a recession in the next few months.

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What does it cost to own a home in 2025? read more

The Savings Game: Reader questions about Social Security benefits

The Savings Game: Reader questions about Social Security benefits

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Q. I just turned 65, and I haven’t applied for a Social Security benefit yet. My husband applied for his benefits when he retired at age 70. If I apply for a spousal benefit, will I be entitled to 50% of his benefit?

A. Unfortunately, you will not be eligible for a spousal benefit equaling 50% of your husband’s benefit unless you wait until you reach 67, your full retirement age. If you apply for a spousal benefit now, you will get less than 50% of his benefit. You will also be filing for a benefit based on your own work record, and you will be entitled to whichever benefit is higher, the spousal benefit or the benefit based on your work record. Touch base with a Social Security representative and determine what your potential benefits (either spousal or for your own work) would be now and what they would be if you waited until age 67 to file. Once you have that information, you can make a better decision.

Q. My wife is disabled and is receiving disability income from her employer for work outside Social Security, as well as disability income from Social Security. My daughter is 17 and plans to go to college. I am approaching my full retirement age. I am concerned about the income my wife and daughter would receive if I predecease my wife. My wife is a few years younger than me. read more

Trump budget would slash NASA funds, kill off Artemis’ SLS rocket and Orion spacecraft

Trump budget would slash NASA funds, kill off Artemis’ SLS rocket and Orion spacecraft

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President Donald Trump’s proposed budget looks to end the Space Launch System rocket, Orion spacecraft and Gateway space station central to NASA’s existing Artemis program — but only after a successful moon landing as the nation remains in a race with China.

A preliminary overview of the White House’s planned 2026 discretionary budget released Friday dubbed SLS and Orion as “grossly expensive and delayed,” citing that each launch SLS rocket alone costs the government $4 billion and is 140% over budget.

It’s among billions in cuts for the overall $18.8 billion proposed budget for NASA, which for the current fiscal year is nearly $25 billion. Ultimately, Congress will pass a budget and it often counters presidential proposals.

The Trump administration looks to drop funds toward Artemis’ future launches by $879 million with a goal of ending them after the Artemis III flight.

“The budget funds a program to replace SLS and Orion flights to the moon with more cost-effective commercial systems that would support more ambitious subsequent lunar missions,” the White House proposal stated. “The budget also proposes to terminate the Gateway, a small lunar space station in development with international partners, which would have been used to support future SLS and Orion missions.” read more