Business
Here we bring you business news affecting both our economy and our daily lives. ___________________________________________________________________________________________
A tale of two housing markets: Luxury demand surges as affordability squeezes starter-home buyers
Eric Revell – FOXBusiness
The U.S. housing market is trending in two different directions as a new report from Zillow finds that while demand for luxury homes is surging, starter home sales are softening with growing inventory.
Zillow’s data defines starter homes as those in the 5th to 35th percentile of home values in a given region, whereas luxury homes are in the top 5% of a region’s home values. Around the country, the typical starter home is worth about $202,000, an increase of 2.3% from a year ago, while the typical luxury home is worth about $1.9 million, up 3.1% from last year.
Inventory for starter homes is up 4.5% year over year in June, while it fell 5.2% for luxury homes. Price cuts were also more common for starter homes, of which 25% had price cuts in June, while 20.6% of luxury home listings had price cuts.
“The best time to buy a home is when nobody else wants to,” said Kara Ng, senior economist at Zillow. “Starter home buyers today have more options, more negotiating power, and…Read more here.
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Apple to lease iPhones, other products to users through Klarna partnership
Apple and buy now, pay later (BNPL) payment provider Klarna are joining forces to offer customers the option to lease a new Apple device in the U.S.
The tech giant announced the program, called Apple Upgrade, on Tuesday, and said that customers will be able to lease eligible iPhone, iPad, Mac and Apple Watch devices.
Apple Upgrade offers 12- and 24-month leasing options for iPhone and Apple Watch, and 24- and 36-month leasing options for Mac and iPad. Leasing prices start as low as $17.99 per month for iPhone, $11.99 for Apple Watch, $24.99 for Mac, and $11.99 for iPad.
When customers enroll in Apple Upgrade, they can trade in their current device through Apple Trade-In to lower their monthly payments during the leasing term, Apple said. At the end of .the leasing term, customers can choose to upgrade to the latest Apple device model, purchase the leased device…Read more here.
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Forget gasoline: This overlooked fuel could raise the price of nearly everything you buy
The fuel most Americans never think about could become the Iran conflict’s biggest economic consequence. While gasoline prices grab headlines, diesel quietly powers the trucks, farms, freight trains and heavy equipment that keep the U.S. economy moving.
From the groceries on supermarket shelves to the Amazon package on your doorstep and the materials used to build new homes, diesel is embedded in nearly every step of the supply chain. As prices rise, businesses face higher transportation costs that economists say often ripple through the economy, pushing up the cost of everyday goods.
Diesel prices, which averaged $3.56 a gallon in January 2025, have climbed to $5.13 since the Iran conflict began, according to the U.S. Energy Information Administration.
A fully loaded semitruck typically gets just 6 to 7 miles per gallon of diesel, according to Department of Energy data. Filling its roughly 250-gallon anks can cost more than,,,Read more here.
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Dollar Tree to shutter 75 stores while growing its overall footprint
By Sophia Compton-FOXBusiness
Dollar Tree plans to close dozens of stores nationwide this year while continuing to expand its overall footprint.
The Chesapeake, Virginia-based company said in its first-quarter earnings report, released May 28, that it expects to close about 75 stores during fiscal 2026. It did not say which locations will shut their doors.
At the same time, Dollar Tree plans to open roughly 400 new stores this year, meaning its total store count is expected to grow.
The retailer opened 113 stores during the first quarter, bringing its total footprint to 9,382 locations across the United States and Canada as of May 2.
Dollar Tree also converted or added about 630 stores to its multi-price format during the quarter. About 5,900 locations now sell products at various price points.
CEO Mike Creedon said the company is focused on improving its…Read more here.
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