Connecticut Mortgages – CT Contra http://ctcontra.com/ Mon, 21 Nov 2022 06:10:38 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://ctcontra.com/wp-content/uploads/2021/05/default-141x136.png Connecticut Mortgages – CT Contra http://ctcontra.com/ 32 32 Dell wins, Best Buy wins, new home sales https://ctcontra.com/dell-wins-best-buy-wins-new-home-sales/ Mon, 21 Nov 2022 06:10:38 +0000 https://ctcontra.com/dell-wins-best-buy-wins-new-home-sales/ A look at some of the major trade events and economic indicators to come this week: Dell Technologies releases its latest quarterly snapshot on Monday. Wall Street predicts that the IT and technology services company’s fiscal third quarter earnings fell from the same period last year. This would echo the company’s results in its previous […]]]>

A look at some of the major trade events and economic indicators to come this week:

Dell Technologies releases its latest quarterly snapshot on Monday.

Wall Street predicts that the IT and technology services company’s fiscal third quarter earnings fell from the same period last year. This would echo the company’s results in its previous two quarters. Investors will be tuning in for an update on how Dell’s personal computer sales trends are doing as the holiday shopping season approaches.

ANOTHER DOWNBEAT NEIGHBORHOOD?

Best Buy has struggled this year amid weakening consumer demand and rising costs due to supply chain disruptions.

The country’s consumer electronics chain reported lower quarterly profits and revenue in the first half of its current fiscal year, which began in February, as consumers restrained electronics spending amid steep prices. higher for basic necessities such as food and gas. Wall Street expects economic trends to continue to weigh on Best Buy in the third quarter. The company releases its quarterly results on Tuesday.

HOUSING BAROMETER

The Commerce Department released its October tally of new home sales in the United States on Wednesday.

Economists forecast sales slowed last month to a seasonally adjusted annual rate of 572,500 homes. Sales rose at an annual rate of 603,000 units in September. The housing market cooled after a strong start to the year as significantly higher mortgage rates made home ownership less affordable for many potential buyers.

Sales of new homes, seasonally adjusted annual rate, by month:

May 636,000

June 571,000

July 543,000

677,000 August

September 603,000

Oct. (estimated) 572,500

Source: FactSet

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#MUBB heads to Rocket Mortgage Fort Myers Tip-Off https://ctcontra.com/mubb-heads-to-rocket-mortgage-fort-myers-tip-off/ Fri, 18 Nov 2022 18:33:48 +0000 https://ctcontra.com/mubb-heads-to-rocket-mortgage-fort-myers-tip-off/ The Marquette University Men’s Basketball Team (3-1, 0-0 BIG EAST) opens play at the Rocket Mortgage Fort Myers Tip-Off on Monday, Nov. 21 at 7:30 p.m. CT when the team plays State of Mississippi (4-0, 0-0 SEC) at Suncoast Credit Union Arena. FS1 presents the TV show, with Brandon Gaudin (play-by-play) and Bill Raftery (analyst) […]]]>
The Marquette University Men’s Basketball Team (3-1, 0-0 BIG EAST) opens play at the Rocket Mortgage Fort Myers Tip-Off on Monday, Nov. 21 at 7:30 p.m. CT when the team plays State of Mississippi (4-0, 0-0 SEC) at Suncoast Credit Union Arena. FS1 presents the TV show, with Brandon Gaudin (play-by-play) and Bill Raftery (analyst) calling the action. Depending on Monday’s result, Marquette will face either Georgia Tech or Utah on Wednesday night to wrap up the tournament.

United have limited action against Tourney Field


Marquette has faced the trio of Mississippi State, Georgia Tech and Utah on a few occasions in program history.


MU beat the Bulldogs 89-62 in the only previous meeting on November 20, 2012 at the Maui Invitational. The Golden Eagles are 4-3 against Georgia Tech, most recently earning a 72-70 victory on November 27, 2014 in the first round of the Orlando Invitational. Marquette also only met Utah once, but that happened during the program’s run to the 1970 National Invitation Tournament title. MU won 83-63 over the Utes in the second tour on March 17, 1970 and ultimately defeated St. John’s for the title.

Prosper joins Marquette’s 30-point list


second striker Olivier Maxence Prosper scored a career-high 31 points in Thursday night’s win over LIU, becoming the 36th player since 1963-64 to record at least one 30-point effort for Marquette.


Prosper was 11 of 12 on the ground and 3 of 3 from range in just 20 minutes of action, surpassing his previous personal best of 22 points against Georgetown (1/7/22) last season.


The Montreal, Quebec native is the first United player to reach the mark since Justin Lewis scored 33 points at Seton Hall on January 26, 2022. All-time leading scorer Markus Howard scored 30 or more points 29 times in the during his career standout, with Tony Smith and Travis Diener following on the latter with seven times apiece.


Prosper’s 31 points are the most by a BIG EAST player in games on Nov. 17.

Ighodaro embracing the starting mission


After playing just five games in an injury-shortened 2020-21 campaign, the junior striker Oso Ighodaro appeared in all 32 outings as a reserve behind Kur Kuath last season.


With Kuath’s graduation, Ighodaro entered the starting line-up in 2022-23 and continues to impress with his steady development. His career-high 11 points, six rebounds and six assists in the win over LIU on Thursday night illustrates his well-rounded contributions and all of his per-game averages are up significantly from 2021-22.


For the season, Ighodaro is contributing 12.5 points, 5.8 rebounds and 3.8 assists per game while shooting 63.9 percent from the floor.

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AICPA and U.S. Department of Labor Sign Inaugural Learning Employers Program for Finance Business Partners https://ctcontra.com/aicpa-and-u-s-department-of-labor-sign-inaugural-learning-employers-program-for-finance-business-partners/ Mon, 14 Nov 2022 20:09:43 +0000 https://ctcontra.com/aicpa-and-u-s-department-of-labor-sign-inaugural-learning-employers-program-for-finance-business-partners/ Get instant alerts when news breaks on your stocks. Claim your one week free trial for StreetInsider Premium here. – Liberty Bank, Aon and HP announced as first participants – The program is the first of its kind in the country for accounting and finance; helps employers develop, retain and diversify talent CHICAGO–(BUSINESS WIRE)–The American […]]]>

Get instant alerts when news breaks on your stocks. Claim your one week free trial for StreetInsider Premium here.


Liberty Bank, Aon and HP announced as first participants

The program is the first of its kind in the country for accounting and finance; helps employers develop, retain and diversify talent

CHICAGO–(BUSINESS WIRE)–The American Institute of CPAs (AICPA) and the U.S. Department of Labor today announced the signing of Liberty Bank, Aon plc (NYSE: AON), and HP Inc. (NYSE: HPQ) to Recorded Learning for Finance Business Partners program. The national accounting and finance program, the first of its kind, will establish a pool of highly engaged candidates that will allow employers to track and develop more skilled, diverse and long-term employees. The program builds on the globally rigorous CGMA Financial Leadership Program leading to the award of the Certified Global Management Accountant (CGMA) designation.

Liberty Bank, Aon and HP are the first employers to participate in the program which creates a new pathway for those looking to pursue careers in accounting and finance, while providing employers with a program to help develop, retain and diversify talent . Liberty Bank has eight apprentices currently enrolled and seven more are in preparation for early 2023. Aon will follow with 15 colleagues and HP will recruit 10 colleagues.

“The battle for talent is heating up, making the need for more skilled accounting and finance talent even more urgent,” said Tom Hood, CPA/CITP, CGMA, executive vice president of engagement and growth businesses at the AICPA. “How we meet the needs of our finance teams today will better position us for tomorrow. Our apprenticeship combines a world-class apprenticeship program with on-the-job mentoring and training, which helps employers recruit and develop theirs, providing the type of workplace that the workforce of the 21st century awaits – diverse, inclusive, collaborative and innovative.

For more than a century, the AICPA has focused on driving a strong pipeline of professionals ready to support and grow organizations around the world. The recorded learning for finance business partners is the final step in this mission.

“The Registered Apprenticeship for Finance Business Partners program will help ensure that diverse and skilled teams are ready to fill finance roles now and in the future,” said US Secretary of Labor Marty Walsh. “Registered apprenticeship is a proven model and a solid investment for employers looking to develop a talented and diverse workforce. Today’s signing reflects the department’s continued commitment to expanding registered apprenticeship programs in emerging and high-growth industries.

These employer signatures coincide with National Apprenticeship Week (November 14-20, 2022), a national celebration where leaders from industry, labour, equity, labor, education and government host events to showcase the successes and value of recorded learnings to rebuild the economy, advance racial and gender equity, and support underserved communities.

“We wanted a cohesive program that immerses employees in the experience beyond the traditional development methodology. A consistent and ongoing opportunity for talent development across the group,” said Paul Young, Senior Executive Vice President and chief financial officer of Liberty Bank, based in Middletown, CT. “The program allows employees from all walks of their career development to participate in the program with cohorts at their learning level, complemented by a strong mentorship program. And it’s powerful because it helps ensure success and attracts the whole organization.

Benefits of Recorded Learning for Finance Business Partners to understand:

For employers, apprenticeship programs –

– Are career development programs that establish a pipeline of employees that employers can grow and monitor over time to dramatically increase the odds of developing a highly engaged, more skilled, and long-term employee.

– Area talent pool management toolwhich allows organizations to build, in addition to buying talent, and in doing so, take control of how they meet the current and future needs of their organization and improve recruitment.

Expand the candidate pool by offering experiences and training that the candidate may not have initially, and allows employers to consider a wider range of candidates.

For apprentices, these programs allow them to earn a salary while they learn and gain exposure to more career development and mentorship opportunities.

“Our employees are the heart of our business. We are committed to creating a culture of opportunity for our colleagues that makes them feel more relevant, connected and valued to help them reach their full professional potential,” said Mike Neller, Global Controller at Aon. “We are excited to make this program available to our finance colleagues, to help them learn essential skills, earn their CGMA designation, and chart a path to professional training, mentorship and career growth. ”

To research reveals that inclusive teams harness the benefits of diversity by improving team performance by up to 30% in high-diversity environments.

“Diversity is a business imperative; when we attract and train people from diverse backgrounds and increase their representation in the workplace, we strengthen a company’s business goals,” said Marie Myers, Chief Financial Officer of HP Inc. “We look forward to being part of of this learning recorded for finance. Business Partner Program as an offering of our Financial Cohort Program launched in 2023 with the hiring of graduates from historically black colleges and universities/HBCUs to generate more diverse and equitable talent within our team.

For more information on the apprenticeship program, visit the AICPA website Finance Business Partner Apprenticeship or email [email protected].

About the American CPA Institute

The American Institute of CPAs® (AICPA®) is the world’s largest member association representing the CPA profession, with more than 421,000 members in the United States and around the world, and a history of serving the public interest since 1887. AICPA members represent many areas of practice, including business and industry, public practice, government, education, and consulting. The AICPA sets ethical standards for its members and US auditing standards for private companies, nonprofit organizations, and federal, state, and local governments. It develops and scores the Uniform CPA Examination, offers specialized degrees, builds the pool of future talent and stimulates continuing education to advance the vitality, relevance and quality of the profession.

About Liberty Bank:

Established in 1825, Liberty Bank of Middletown, Connecticut is the nation’s oldest and largest independent mutual bank. With over $7 billion in assets, Liberty Bank has 56 banking offices in Connecticut and one in Massachusetts. As a full-service financial institution, Liberty offers personal and business banking, cash management, residential mortgages, business loans, insurance, and investing. Named Top Workplace annually since 2012 and Forbes Best-in-State Bank in 2021 and 2022, Liberty maintains a longstanding commitment to superior customer service and unparalleled community involvement. Visit www.liberty-bank.com.

About Aon:

Aon plc (NYSE: AON) exists to shape decisions for the better – to protect and enrich the lives of people around the world. Our colleagues provide our clients in more than 120 countries and sovereignties with advice and solutions that give them the clarity and confidence to make better decisions to protect and grow their business.

Follow Aon on LinkedIn, Twitter, Facebook and instagram. Stay up to date by visiting the Aon Newsroom and sign up for news alerts here.

About HP:

HP Inc. is a technology company that believes that a thoughtful idea has the power to change the world. Its product and service portfolio of personal systems, printers and 3D printing solutions helps bring these ideas to life. Visit http://www.hp.com.

Media contacts:

Bill Ferguson, AICPA

[email protected]

919-402-4610

Source: American CPA Institute

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Everything you need to know about Monster Jam coming to Bridgeport in November. https://ctcontra.com/everything-you-need-to-know-about-monster-jam-coming-to-bridgeport-in-november/ Fri, 11 Nov 2022 17:13:26 +0000 https://ctcontra.com/everything-you-need-to-know-about-monster-jam-coming-to-bridgeport-in-november/ Popular motorsport event Monster Jam organizes five sessions for Bridgeport Total Mortgage Area From Friday November 11 to Sunday November 13. The event features 12,000 pound monster truck racing, jumping and other stunts in a dirt area. The judges observe the different performances of the trucks and choose a winner for each round at the […]]]>

Popular motorsport event Monster Jam organizes five sessions for Bridgeport Total Mortgage Area From Friday November 11 to Sunday November 13. The event features 12,000 pound monster truck racing, jumping and other stunts in a dirt area. The judges observe the different performances of the trucks and choose a winner for each round at the end.

Friday, Nov. 11 at 1 p.m.

Friday, Nov. 11 at 7 p.m.

Saturday Nov. 12 at 1 p.m.

Saturday Nov. 12 at 7 p.m.

Sunday, Nov. 13 at 1 p.m.

All sessions will have “tracksides” starting one hour before the start time. These tracksides include things like driver interviews, competition preview, behind the scenes pit crew and more and trackside access is included with admission.

Additionally, the 1 p.m. sessions on November 12 and 13 will have a “pit partybefore the main event, starting at 10:30 a.m., pit parties allow people to see the trucks up close as well as meet the drivers for photo ops and autographs. Entry to the Pit Party requires purchase an additional ticket which can be purchased at the same time as the regular admission or can be added later, but must be accompanied by a regular admission ticket.

Some of the drivers and trucks featured at the Bridgeport Monster Jam are the “Grave Digger” with driver Krysten Anderson, “El Toro Loco” driven by Elvis Lainez, and “Hooked” driven by Steven Thompson.

Regular admission tickets and Pit Party access start at $20 per person and can be purchased on the link here.

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Redfin to cut an additional 13% of its workforce, closes RedfinNow https://ctcontra.com/redfin-to-cut-an-additional-13-of-its-workforce-closes-redfinnow/ Wed, 09 Nov 2022 16:24:42 +0000 https://ctcontra.com/redfin-to-cut-an-additional-13-of-its-workforce-closes-redfinnow/ WASHINGTON (AP) — Online real estate brokerage Redfin is cutting 862 employees and closing its instant cash offering subsidiary RedfinNow, another victim of two-decade high interest rates fueled by the Federal Reserve’s fight against inflation. . The job cuts represent 13% of Redfin’s workforce, the company said in a regulatory filing. Redfin also laid off […]]]>

WASHINGTON (AP) — Online real estate brokerage Redfin is cutting 862 employees and closing its instant cash offering subsidiary RedfinNow, another victim of two-decade high interest rates fueled by the Federal Reserve’s fight against inflation. .

The job cuts represent 13% of Redfin’s workforce, the company said in a regulatory filing. Redfin also laid off 470 employees in June, blaming slowing home sales.

Redfin has cut more than a quarter of its workforce since April 2022 on the assumption that the housing downturn will last “at least until 2023”, it said in the filing.

The average long-term mortgage rate in the United States is hovering around 7%, partly due to the Fed raising rates six times this year, which has been trying to stem high inflation for four decades. Fed officials have raised their benchmark lending rate by three-quarters of a point in its past four meetings, sowing fears that its authoritarian policies could tip the United States into a recession.

More rate hikes are expected next year, although inflation data from the government on Thursday could play into the Fed’s strategy.

Although the government recently estimated that the entire US economy returned to growth last quarter, the Fed’s actions cooled a once-hot housing market.

Home sales have slowed for eight straight months as would-be first-time home buyers pull out of the market, with borrowing costs dramatically diminishing their options and inflation already taking a bite out of their income. Homeowners looking to upgrade are also waiting for interest rates to peak, not wanting to jump into a higher rate on their next mortgage.

In its filing, Redfin said it plans to incur charges of up to $23 million for the layoffs and liquidation, most of those related to benefits and severance pay related to the layoffs.

Redfin writes down $18 million of inventory associated with RedfinNow, due to homes losing value since they were purchased earlier this year. Redfin said it will continue to buy houses under contract, renovate them and sell them quickly.

The Seattle-based company hopes to reduce its RedfinNow inventory to about $85 million of homes by the end of January 2023. It currently has about $265 million of homes through RedfinNow, with an additional $92 million under contract.

RedfinNow made sellers quick money offers for their homes without having to list them.

Redfin shares fell more than 8% in morning trading. They have lost around 90% of their value this year and traded close to $100 each less than two years ago.

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Wolf Pack Visits Islanders for Second Round of ‘Battle of Connecticut’ https://ctcontra.com/wolf-pack-visits-islanders-for-second-round-of-battle-of-connecticut/ Sat, 05 Nov 2022 15:41:32 +0000 https://ctcontra.com/wolf-pack-visits-islanders-for-second-round-of-battle-of-connecticut/ November 5, 2022 – American Hockey League (AHL) – Hartford Wolf Pack Press release BRIDGEPORT, CT – The Hartford Wolf Pack will be looking to shake off a loss last night and earn some of their back-to-back weekend when they visit the Bridgeport Islanders tonight at Total Mortgage Arena. The puck drop is scheduled for […]]]>

November 5, 2022 – American Hockey League (AHL)Hartford Wolf Pack Press release

BRIDGEPORT, CT – The Hartford Wolf Pack will be looking to shake off a loss last night and earn some of their back-to-back weekend when they visit the Bridgeport Islanders tonight at Total Mortgage Arena.


The puck drop is scheduled for 7:00 p.m. and coverage is available on AHLTV and Mixlr.

Tale of the Band:

This is the second of twelve meetings between the Wolf Pack and the Islanders this season, and the second of six in southern Connecticut. The teams will meet once again in November, with the Pack returning to Bridgeport on November 23. The Islanders will make their first trip to Hartford on December 23. Four of the first five meetings in the series will take place at Total Mortgage Arena, with the last meeting in 2022 taking place on December 27 in Bridgeport.

The Islanders won the first round of the “Battle of Connecticut” on October 23, earning a 5-2 victory. Kyle MacLean opened the scoring 61 seconds into the second period, scoring a shorthanded goal to break the ice for the Islanders. Will Cuylle would tie the game at 10:35 of the second with his second goal of the season, but Andy Andreoff’s power play goal at 14:18 would give the Islanders a 2-1 advantage going into the final stanza.

Lauri Pajuniemi would tie the deal with his second goal of the season 13:41 into the third with a hard shot from the circle, but the Islanders would take over from there. Paul Thompson hit home a one-timer at 2:29 to put the Islanders back in front, while Hudson Fasching and Cole Bardreau tacked on the insurance markers at 4:16 and 5:33.

Wolf Pack Outlook:

The Wolf Pack lost a 5-1 decision to the Springfield Thunderbirds on Friday night, ending a brief two-game winning streak. The T-Birds exploded for three goals in 5:01 early in the game, creating a lead the Wolf Pack couldn’t cut.

Matthew Kessel opened the scoring with his first career regular season goal 11:34 into the game, while Will Bitten extended the lead with the eventual winner at 15:58. Bitten’s goal was his third shorthanded goal of the season, leading the league, and the second abandoned by the Wolf Pack in 2022-23. 37 seconds later, Josh Leivo would make it a 3-0 game in his debut for the Thunderbirds.

Leivo extended the Thunderbirds’ lead to 4-0 just 44 seconds into the middle stanza, netting a two-on-one shot. Turner Elson got the Wolf Pack on the board at 8:34 of the third period, but Leivo completed the hat trick at 17:59 with a goal in an empty net.

Elson and Jonny Brodzinski lead the Wolf Pack with six points apiece in seven games. Both scored two goals and had four assists. Pajuniemi, meanwhile, leads the club with three goals.

Islander Perspectives:

The Islanders were off last night after claiming a 4-3 shootout win Tuesday morning over the Charlotte Checkers. Vincent Sevigny broke the ice with his first professional goal just 6:10 into the hockey game, but John Ludvig and Zac Dalpe both lit the lamp to give the Checkers a 2-1 lead at intermission .

Aatu Raty would level the matter 2:11 into the middle frame, but Ethan Keppen would hit back at 6:51 to push the Checkers in front again. Andreoff scored the last regulation goal at 18:09 of the second period, striking again on the power play for his fifth goal of the season.

After overtime solved nothing, the teams were forced to go to the shootout. There, William Dufour scored the only goal while Cory Schneider denied all three Checkers shooters to cement the 4-3 win.

Andreoff (5 g, 6 a) and rookie Ruslan Iskhakov (4 g, 7 a) lead the Islanders in scoring with eleven points each. Andreoff’s five goals also lead the club, while Iskhakov’s four are second. Fasching, Dufour and Simon Holmstrom have all scored three goals this season.

Schneider leads in goal with a perfect 5-0-0 record and .913 save percentage.

Game Info:

WATCH: AHLTV

LISTEN: Mixlr

Wolf Pack voice play-by-play Alex Thomas will have “Wolf Pack Pregame” live at 6:45 p.m. tonight on AHLTV and Mixlr. Be sure to tune in all season for Hartford Wolf Pack hockey! To access Alex’s call on AHLTV, select the “audio absent” button after selecting tonight’s game.

The Wolf Pack will return to the XL Center on Wednesday, November 9 for a rematch with the Thunderbirds. Don’t want to miss a second of the “I-91 Rivalry” or the “Battle of Connecticut” this season? Check out the new “Rivalry Packs”, featuring five of the six matches between the opponents at XL Center this season! Single tickets for Wednesday night’s game are also available at www.hartfordwolfpack.com.

• Discuss this story on the American Hockey League bulletin board

The views expressed in this release are those of the organization that issued it and do not necessarily reflect the thoughts or opinions of OurSports Central or its staff.

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Due to declining affordability, many people buy their “second home” first https://ctcontra.com/due-to-declining-affordability-many-people-buy-their-second-home-first/ Wed, 02 Nov 2022 10:52:00 +0000 https://ctcontra.com/due-to-declining-affordability-many-people-buy-their-second-home-first/ Photo (c) Fstop 123 – Getty Images Rising mortgage rates are making homes much less affordable in the nation’s biggest real estate markets, prompting first-time buyers to get creative. Buyers in these high-priced markets are expanding their horizons. A study by ConsumerAffairs found that 81% of potential buyers were considering buying a “second home” first, […]]]>

Photo (c) Fstop 123 – Getty Images

Rising mortgage rates are making homes much less affordable in the nation’s biggest real estate markets, prompting first-time buyers to get creative. Buyers in these high-priced markets are expanding their horizons.

A study by ConsumerAffairs found that 81% of potential buyers were considering buying a “second home” first, while continuing to rent out their primary residence. A few said they would use their purchase as a getaway, but most said they would try to earn some income from it.

The study found that the youngest cohort of potential buyers, Gen Z, are the most likely to consider this decision. Eighty-seven percent of all first-time buyers said they believed buying an investment property would allow them to own their primary residence within three years.

The preferred region of the United States for second home purchases is the South Central region, selected by 48% of respondents. The South Atlantic region ranks behind at 43%. These areas tend to have the lowest median home prices.

Growing trend

Real estate professionals say they have seen evidence of this trend. Rose Ciardielloan agent for William Raveis Real Estate, a Connecticut-based firm, says the trend actually started at the start of the COVID-19 pandemic and is continuing.

“Some of these buyers are renting out their second homes while they occupy rentals in cities, and others are keeping them unoccupied so they can get away when they want,” Ciardiello told us recently. “Some will experiment with both – renting out their home while they’re away, but keeping it in storage for specific weeks of the year so they can enjoy themselves.”

The ConsumerAffairs study found that declining home affordability in more expensive markets may be contributing to this trend. Almost all first-time home buyers – 92% – said they could not afford a mortgage in the current interest rate environment – even though most were earning good wages – prompting them to consider to buy elsewhere.

On second thought, maybe we’ll just move on

Not just buy but move. Among Gen Z respondents, 79% said they were considering moving to a more affordable state or city so they could afford to buy a home as their primary residence.

Other generations are also planning to pack their bags. More than 60% of Millennials and Gen Xers are considering relocating, and even baby boomers, nearing or in retirement, are looking for greener pastures.

“For me, one of the most surprising things about the second home study is that 43% of baby boomers surveyed said they plan to move to a cheaper state to afford a home,” said Cassidy McCants, associate editor of ConsumerAffairs.

“Sixty-four percent of all respondents, including Gen Z, Millennials and Gen X, said the same thing, but the fact that such a large percentage of the older population still struggles to s offering a house indicates how much there is still to be desired throughout the world. board in today’s housing market. Boomers we surveyed also said they needed to save $20,557 on average to buy their first home – and were willing to spend $1,976 more than their monthly budget to afford a mortgage. .

According to the National Association of Realtors (NAR), the average mortgage payment in Los Angeles County is now $3,510, up from $2,590 12 months ago. By contrast, the average monthly mortgage payment in Hamilton County, Ohio (Cincinnati) is $1,034, down from $705 a year ago.

There seem to be plenty of affordable markets to choose from. NAR data shows that 40.7% of US counties have median home prices of $150,000 or less.

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Maine Commercial Building Owners Receive New Tool to Fight Climate Change https://ctcontra.com/maine-commercial-building-owners-receive-new-tool-to-fight-climate-change/ Sun, 30 Oct 2022 10:15:22 +0000 https://ctcontra.com/maine-commercial-building-owners-receive-new-tool-to-fight-climate-change/ Maine is finalizing rules for a program that will soon allow commercial homeowners to pay for clean energy upgrades through their property tax bills. Loans known as C-PACE – or Commercial Property Rated Clean Energy – eliminate down payments and spread the cost of solar, energy efficiency and other projects over longer terms than loans. […]]]>

Maine is finalizing rules for a program that will soon allow commercial homeowners to pay for clean energy upgrades through their property tax bills.

Loans known as C-PACE – or Commercial Property Rated Clean Energy – eliminate down payments and spread the cost of solar, energy efficiency and other projects over longer terms than loans. conventional bank loans. When a property is sold, the responsibility for repayment is transferred to the buyer, allowing owners to invest without worrying about whether they will own for long enough to fully recoup the savings.

“It’s a financing tool that lowers the upfront cost barrier to renewable energy and energy efficiency measures for commercial properties,” said Robert Wood, director of government relations and climate policy at Nature’s Maine chapter. Conservancy. “He has a clearly successful and growing track record in a number of other states.”

Connecticut became the first state to approve a C-PACE program in 2012. Adoption picked up from there and today more than 20 states and the District of Columbia have active programs in place. Maine passed legislation (LD 340) last year to establish a program administered by Efficiency Maine Trust.

Maine has made an ambitious effort to reduce its greenhouse gas emissions since 2019, when Governor Janet Mills took office and declared climate issues a priority for her administration. In 2020, the state released a comprehensive climate change plan, Maine Won’t Wait, which includes a goal to reduce greenhouse gas emissions by 80% by 2050.

One of the key strategies in the document is to modernize buildings in Maine. Commercial building heating, cooling and lighting are responsible for about 11% of the state’s emissions. C-PACE is seen as a tool to address this segment.

How C-PACE works

The program works by leveraging systems already in place to assess and collect property taxes. A building owner wanting to add solar panels or new insulation borrows the entire amount needed from a private lender, but payments on the loan are rolled into his semi-annual property tax bills. The local tax collector makes the payments to the lender.

The approach offers a few advantages, proponents said. Although there are already lenders who will finance renewable energy or energy efficiency projects, they generally offer loan terms of five to ten years. With C-PACE, however, loan terms can be as long as the expected useful life of the system or financed upgrade. And longer terms mean lower payments.

“If you extend it to 15 or 20 years, that significantly lowers your monthly costs,” said Michael Stoddard, executive director of Efficiency Maine Trust.

At the same time, tying payments to the property tax bill gives lenders more confidence that they will be reimbursed. Legally, property taxes take priority over other debts if a borrower is in financial difficulty. This same priority attaches to the payment of a C-PACE loan. If the building is sold, the loan payment is passed on to the buyer, who ends up with a higher property tax bill, but a more efficient and potentially more valuable building.

“The idea is that you create a secure investment tool by taking advantage of the municipal property tax structure,” Wood said.

In some cases, the financed improvements save so much money that the additional property assessment is less than the savings, providing homeowners with positive cash flow upfront.

Small print is expected soon

Efficiency Maine is nearing the end of the program’s regulatory process. Stoddard expects to publish draft regulations for public comment soon and finalize the regulations by the end of the year. Once this framework is in place, individual cities will need to join the program by passing a municipal ordinance authorizing their participation. Several municipalities, including Portland and South Portland, have already expressed interest in adopting the program.

The money for the loans will come from private lenders who decide it is worth participating in the newly created market. The mix could include local and national banks, as well as niche private lenders that focus on the C-PACE market, Stoddard said.

Some in the banking industry are unconvinced by the program. Although the program is “well-intentioned,” it may not have a significant impact, said Josh Steirman, director of government relations at the Maine Bankers Association.

Before a loan can be granted, the city or town must have opted in to the program, and then the borrower must obtain consent from any other lender who holds a mortgage on the property. These extra steps can hinder adoption, Steirman said.

“We’re curious to see how market adoption of this program evolves,” Steirman said. “However, the use of this program may be somewhat limited, and therefore less impactful than expected.”

Other states with active C-PACE programs have seen a significant impact, however, enabling some $2 billion in private investment, according to the US Department of Energy.

In Connecticut, the program has been a resounding success, said Mackey Dykes, vice president of financing programs at Connecticut Green Bank, the agent that administers the C-PACE program in the state. Since its launch in 2013, the program has funded 370 projects there for a total of $231.7 million. These investments generated $312.6 million in savings and prevented nearly 927,000 tonnes of carbon dioxide from entering the atmosphere, the equivalent of taking 185,000 cars off the road.

The steps involved in the program have not been a deterrent in Connecticut, Dykes said. Each municipality only needs to join the program once, and once banks are familiar with the program, obtaining their consent for an additional loan becomes a quick and easy process.

“Once you’ve completed that initial work and created the ecosystem that includes programs and benefits, you’re set for success,” Dykes said.

This article originally appeared in the Energy Information Network, and has been republished with permission.

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Which NBA stadium has the most expensive drinks? – NBC Connecticut https://ctcontra.com/which-nba-stadium-has-the-most-expensive-drinks-nbc-connecticut/ Thu, 27 Oct 2022 23:49:24 +0000 https://ctcontra.com/which-nba-stadium-has-the-most-expensive-drinks-nbc-connecticut/ Which NBA stadium has the most expensive drinks? originally appeared on NBC Sports Chicago Attending an NBA game in 2022 can definitely cost you quite a bit of money, especially if you’re bringing friends and family. It’s not just the cost of a ticket that can be expensive, but adding selections to a concession stand […]]]>

Which NBA stadium has the most expensive drinks? originally appeared on NBC Sports Chicago

Attending an NBA game in 2022 can definitely cost you quite a bit of money, especially if you’re bringing friends and family.

It’s not just the cost of a ticket that can be expensive, but adding selections to a concession stand can certainly add up.

Catching a buzz while watching an intense game in certain stadiums will cost more, however. For example, having a beer to see Jayson Tatum and the Boston Celtics Dominating at TD Garden will come at a higher price than attending Rocket Mortgage FieldHouse to watch Darius Garland and the Cleveland Cavaliers get to work.

Let’s break down the NBA stadiums with the most expensive drinks, alcoholic and non-alcoholic:

The following data is based on an average drink per person in 2022, according to Bookies.com.

Which NBA stadium has the most expensive drinks?

What is the average drink in an NBA stadium?

The average price of a 16-ounce beer in 2022 is $10.53 while the average price of a 20-ounce soda is $5.90.

Which NBA stadium has the cheapest drinks?

The Cleveland Cavaliers have the cheapest drinks with a 16-ounce beer averaging $5.28 and a 20-ounce soda averaging $3.80.

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AFC Gamma and Viridescent Realty Trust amend $150 million credit facility for Acreage Holdings https://ctcontra.com/afc-gamma-and-viridescent-realty-trust-amend-150-million-credit-facility-for-acreage-holdings/ Tue, 25 Oct 2022 11:35:43 +0000 https://ctcontra.com/afc-gamma-and-viridescent-realty-trust-amend-150-million-credit-facility-for-acreage-holdings/ Get instant alerts when news breaks on your stocks. Claim your one week free trial for StreetInsider Premium here. Lenders revise credit facility to provide access to acreage for up to an additional $50 million WEST PALM BEACH, Fla., Oct. 25, 2022 (GLOBE NEWSWIRE) — AFC Gamma, Inc. (NASDAQ: AFCG) (“AFC Gamma”) today announced that […]]]>

Get instant alerts when news breaks on your stocks. Claim your one week free trial for StreetInsider Premium here.


Lenders revise credit facility to provide access to acreage for up to an additional $50 million

WEST PALM BEACH, Fla., Oct. 25, 2022 (GLOBE NEWSWIRE) — AFC Gamma, Inc. (NASDAQ: AFCG) (“AFC Gamma”) today announced that it has amended its previously announced $100 million credit facility with Acreage Holdings, Inc. (“Acreage”) (CSE: ACRG.AU, ACRG.BU), (OTCQX : ACRHF, ACRDF), a vertically integrated, multi-state operator of cannabis cultivation and retail facilities in the United States (the “Modified Credit Facility”).

Under the amended credit facility, an additional $25 million is now available for immediate drawdown by Acreage, and an additional $25 million is available in future periods under a committed accordion option at the achievement of certain predetermined milestones. The terms of these additional drawdowns replace the old $50 million accordion option. The amended credit facility now includes a variable interest rate equal to the US prime rate (“prime”) plus 5.75% per annum, payable monthly in arrears, with a prime floor of 5.50%. Acreage intends to use the proceeds to fund expansion initiatives and provide additional working capital.

“AFC Gamma is committed to providing the capital necessary to support the expansion of our portfolio companies in key states to drive growth,” said Leonard Tannenbaum, Chairman and CEO of AFC Gamma. “Acreage has a proven track record as a strong and capable operator well suited for long-term success. AFC is proud to strengthen its partnership with Acreage as we provide additional funding to achieve their growth goals as they continue to make their mark in the North East region.

Steve Goertz, Chief Financial Officer of Acreage, added, “The amended terms of the credit facility align with current market conditions and will allow Acreage to strengthen our balance sheet as we expand our core footprint, particularly in the Northeast. This capital injection comes at an opportune time as we elevate our cultivation and wholesale capabilities in New Jersey and solidify our presence in the upcoming adult markets of Connecticut and New York. We are delighted that AFC Gamma and Viridescent continue to show their confidence in our growth potential and remain valued partners.

AFC Gamma has committed up to $90 million under the amended credit facility, with an additional commitment of up to $15 million syndicated to an affiliate and the remaining $45 million committed by Viridescent Realty Trust, Inc. (“Viridescent”). The facility is secured by first ranking mortgages on Acreage’s real estate properties and other commercial security interests.

About AFC Gamma, Inc.
AFC Gamma, Inc. (NASDAQ: AFCG) is an institutional lender that offers a range of lending solutions to established operators in the cannabis industry. AFC Gamma originates, structures and underwrites senior secured loans and other types of operator financing in states that have legalized medical and/or adult cannabis. AFC Gamma’s management team has over 100 years of combined experience in investment management and disciplined credit investing through a range of economic cycles.

About Viridescent Realty Trust, Inc.
Viridescent is a commercial real estate finance company focused on originating, structuring, underwriting and servicing senior secured loans for established companies operating in the cannabis industry. With over 25 years of first-hand experience in the cannabis industry coupled with 75 years of combined experience in private lending, home lending, retail, real estate acquisitions and development, investment advisory , risk management and advisory, Viridescent’s extensive knowledge and network in the cannabis industry positions it as a strategic and valuable partner to provide customized and industry-tailored financing solutions.

About Acreage Holdings, Inc.
Acreage is a multi-state operator of cannabis cultivation and retail facilities in the United States, including its national brand of retail stores, The Botanist. With its primary address in New York, Acreage’s wide range of cannabis products available nationally and regionally includes award-winning The Botanist brand, craft brand Superflux, Tweed brand, Prime medical brand in Pennsylvania, Innocent brand in Illinois and others. . Acreage also owns Universal Hemp, LLC, a hemp subsidiary dedicated to distributing, marketing, and selling CBD products across the United States. Since its founding in 2011, Acreage has focused on building and scaling operations to create a seamless, consumer-centric brand experience. . Learn more about www.acreageholdings.com and follow us on Twitter, LinkedIn, instagramand Facebook.

Forward-looking statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that reflect the company’s current beliefs and projections regarding, among other things, future events and Acreage’s expected expansion and financial performance. All statements other than historical facts are forward-looking statements. Words such as ‘believes’, ‘expects’, ‘will’, ‘intends’, ‘plans’, ‘guidance’, ‘estimates’, ‘projects’, ‘anticipates’ and ‘future’ or similar expressions are intended to identify forward-looking statements. These forward-looking statements are subject to the uncertainties inherent in predicting future results and conditions and are not guarantees of future performance, conditions or results. Certain factors, risks and uncertainties discussed under “Risk Factors” and elsewhere in AFC Gamma’s most recent periodic reports filed on Forms 10-K and 10-Q and subsequent filings could cause actual results and performance to differ materially. of those projected in these forward-looking statements.

AFC GAMMA, INC. INVESTOR CONTACT:
Robyn Tannenbaum
561-510-2293
[email protected]
www.afcgamma.com

AFC GAMMA, INC. MEDIA CONTACT:
Marc Sinclair
MATTIO Communications
[email protected]

VIRIDESCENT REALTY TRUST, INC. CONTACT :
Steven Miller
203-561-2795

ACREAGE HOLDINGS, INC.
Steve Goertz, Chief Financial Officer
[email protected]

Courtney VanAlstyne
MATTIO Communications
[email protected]

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