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Losing value: Housing slowdown leads to first equity drop since 2012

Published Wed, 12 Feb 2025 12:05:00 GMT

LOS ANGELES — For the first time in more than a decade, the average U.S. homeowner with a mortgage has less home equity than they did a year earlier.Among the roughly 63% of U.S. homes with a mortgage, average homeowner equity per borrower was $274,070 in the first quarter, down 1.9% from the same quarter last year, according to real estate data tracker CoreLogic.The last time average homeowner equity fell year-over-year was in the first quarter of 2012, when the housing market was still regaining its footing after the mortgage meltdown and ensuing foreclosure crisis that helped trigger the Great Recession.All told, U.S. homeowners with a mortgage lost a combined $108.4 billion in home equity between the first quarter of last year and the first three months of 2023, a drop of 0.7%, according to CoreLogic.Massachusetts is one of 13 states that showed a drop, according to the data, with a reduction of $2,000 year-over-year for the period ending with the first quarter. The average drop...

U.S. attorney general to visit Minneapolis for ‘civil rights matter’ announcement

Published Wed, 12 Feb 2025 12:05:00 GMT

By STEVE KARNOWSKI and JIM SALTER (Associated Press)MINNEAPOLIS (AP) — Two years after the U.S. Department of Justice launched an investigation into the Minneapolis Police Department following the killing of George Floyd, Attorney General Merrick Garland is visiting Minneapolis to make an announcement in “a civil rights matter.”Justice Department and city officials declined on Thursday to confirm that Friday’s news conference at the federal courthouse in Minneapolis is to announce findings of that police department investigation. But a Justice Department advisory said Garland will be joined by Minneapolis Mayor Jacob Frey, Police Chief Brian O’Hara and others. Also, a link to a Justice Department public webinar scheduled for Friday afternoon has the heading, “DOJ Presentation for MPD Investigative Findings.”The “pattern or practice” investigation was launched in April 2021, a day after former officer Derek Chauvin was convicted o...

A Missouri doctor’s death is steeped in mystery and speculation. Authorities aren’t talking

Published Wed, 12 Feb 2025 12:05:00 GMT

CASSVILLE, Mo. (AP) — John Forsyth was known as a hard-working doctor who cared deeply for his patients and often teased nurses in the emergency room to ease tension. He was a father of eight and newly engaged. He also co-founded a cryptocurrency business with his brother.His sudden disappearance from a southwestern Missouri town last month — and the eventual discovery of his body in an Arkansas lake — has led those who knew him to wonder what happened to the man who seemed happier than he’d been for some time. A lack of information from law enforcement has only deepened the mystery, prompting amateur sleuths to espouse theories on Facebook.“It’s like the world dropped on us; we’re just in shock” said his sister Tiffany Forsyth. “There’s a part of me that’s not quite sure this is real yet. I guess it comes in steps.”Forsyth, 49, disappeared on May 21 from a parking area at a public swimming pool. His body, which had suffered an apparent gunshot wound, was found nine days later. An a...

Quebec firefighters struggling to control wildfires in northern, western regions

Published Wed, 12 Feb 2025 12:05:00 GMT

QUEBEC — Officials say firefighters are still struggling to control wildfires in two Quebec regions as the situation has improved in the rest of the province.As of Thursday afternoon, there were over 100 active fires in the southern half of the province and another 20 in the far north. The province’s forest fire prevention agency — SOPFEU — classified 26 of the southern fires as out of control.SOPFEU official Sylvain Tremblay told a press conference that rainfall hasn’t been sufficient to halt the progression of fires in the northern and western parts of the province.Fire officials are concerned about the behaviour of wildfires in those two regions as firefighters try to maintain what progress they have made.Tremblay doesn’t anticipate help from the weather in the next few days. “The forecasts are bad,” he said Thursday. “For the three days ahead, we don’t expect any rain in these areas. So, if we don’t have rain there and the fair wea...

State of emergency to be lifted in Lytton, B.C., two years after fire destroyed town

Published Wed, 12 Feb 2025 12:05:00 GMT

LYTTON, B.C. — Almost two years after a wildfire ripped through Lytton, B.C., residents will soon be able to return to their properties.Council for the Village of Lytton has voted to allow the local state of emergency to expire on June 19. The emergency was declared June 30, 2021, after B.C.’s sweltering heat dome triggered a wildfire that raced through the village, killing two people and burning homes, businesses, the ambulance station, police detachment and village office.Lytton Mayor Denise O’Connor says those who plan to return could start rebuilding within a few months, but they still don’t know how many residents will be coming back. Temporary facilities including a health centre and village hall are being established after rebuilding delays that involved archeology work and concerns over toxic soil left by the fire.Premier David Eby says the province has put tens of millions of dollars into the project so far and more will likely be needed, but he’s ve...

Al Pacino, 83, is a father for the fourth time, welcoming son Roman with Noor Alfallah

Published Wed, 12 Feb 2025 12:05:00 GMT

Al Pacino is a father for the fourth time.Pacino’s publicist, Stan Rosenfield, confirmed to The Associated Press on Thursday that the actor, 83, and 29-year-old Noor Alfallah welcomed a son named Roman.No other details, including when or where the baby was born, were released. The news was first reported by TMZ.He is Pacino’s fourth child and first with Alfallah. Pacino has a 33-year-old daughter, Julie Marie, with acting coach Jan Tarrant and 22-year-old twins Anton and Olivia with actor Beverly D’Angelo.Pacino and Alfallah reportedly began dating last year. She describes herself as a “raconteur” on her Instagram page and her IMDB page notes that she’s a producer on two movies currently in post-production, including “Billy Knight,” starring Pacino.Pacino’s baby news follows close on the heels of that of longtime friend and fellow actor Robert De Niro. A representative for the 79-year-old actor confirmed last month that De Niro had become a father for the seventh time.Th...

Things to know about the Supreme Court ruling upholding the Indian Child Welfare Act

Published Wed, 12 Feb 2025 12:05:00 GMT

PHOENIX (AP) — The Supreme Court has preserved a federal law giving preference to Native American families when it comes to adopting Native children in foster care. The court’s 7-2 ruling Thursday leaves in place the 1978 Indian Child Welfare Act, which aims to reverse centuries of government-sanctioned efforts to weaken tribal identity by separating Native American children from their families and raising them outside their tribal cultures. Here are some things to know about the law and the issues around it:—WHAT WAS PURPOSE OF THE 1978 INDIAN CHILD WELFARE ACT?The law requires states to notify tribes when adoption cases involve their members or children eligible for tribal membership, and to try to place them with their extended family, their tribe or other Native American families. It was enacted to address historic injustices: Before the law took effect, between 25% and 35% of Native American children were being taken from their families and placed with adoptive families, ...

2 shot on I-290 near Kedzie Ave exit, investigation underway

Published Wed, 12 Feb 2025 12:05:00 GMT

CHICAGO -- A heavy police presence can be seen near the Kedzie Avenue exit along I-290 Thursday evening.According to the Illinois State Police Department, troopers responded around 2:45 p.m. on reports of an expressway shooting.Two people were shot, one transported themselves to an area hospital and another was transported by ambulance.A black sedan and a white sedan are parked on the ramp. The white sedan has some friend end damage to the drivers sideWe spoke to the driver of the black sedan who says he was rear ended by the white car, that's when another vehicle drove up and someone fired shots into the vehicle that hit him. He was able to duck down and was uninjured.The extent of their injuries are unknown at this time.No further information has been made available at this time.Stay with WGN as this story develops.

Yoan Moncada is out of the White Sox lineup again in 2023

Published Wed, 12 Feb 2025 12:05:00 GMT

LOS ANGELES — Once again, a nagging injury in 2023 is going to keep the White Sox third baseman out of the lineup.White Sox third baseman Yoan Moncada is headed back to the 10-day IL with lower back inflammation, retroactive to June 14..Infielder Zach Remillard is being called up to the majors for the first time..@WGNNews pic.twitter.com/h1LVjhXMWQ— Larry Hawley (@HawleySports) June 15, 2023On Thursday, the White Sox announced that Yoan Moncada will be placed on the ten-day IL as he deals with lower back inflammation. The move is retroactive to June 14. As part of the transaction, the team is calling up infielder and 2016 10th round draft pick Zach Remillard from Triple-A Charlotte. This is the second time that Moncada has been placed on the injured list this season with a lower back issue. On April 14, in the midst of a good start to the season, the third baseman landed on the list with soreness in that area. It would keep him out for over a month before returning on May 12 a...

Federal Reserve pauses interest rate hike amid inflation concerns

Published Wed, 12 Feb 2025 12:05:00 GMT

WASHINGTON (Nexstar) – The Federal Reserve decided not to raise interest rates, which comes as good news for Americans who are looking to make big purchases with loans or credit cards, however, the pause isn't permanent.This is the first pause in interest rate hikes after 10 consecutive hikes but the Fed expects more interest rate increases in 2023.“In light of how far we've come in tightening policy...today, we decided to leave our policy interest rate unchanged,” Federal Reserve Chair Jerome Powell said. "I think it allows the economy a little more time to adapt."The country had a more robust May jobs report than expected and the economy also cooled with inflation falling to four percent -- a sharp drop compared to the nine percent inflation rate the United States saw last June."This is all evidence that the president's economic plan is working to lower costs for families, invest in America,” White House Press Secretary Karine Jean Pierre said.But on Capitol Hill, Republicans like...