Judge dismisses suit of ex-janitor who says he invented Flamin' Hot Cheetos
But a Los Angeles Times investigation in 2021 threw a wrench into the rags-to-riches tale, with Frito-Lay disputing Montañez's claim and telling the newspaper that 'the facts do not support the urban legend.'
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
6 hours ago
- Yahoo
Nearly 40% Of Homeowners Are Mortgage-Free — You'd Think That's A Good Thing, But It's Fueling A Lock-In Crisis and Freezing the Housing Market
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Having no mortgage used to be the gold standard for the American Dream—quiet proof that you "made it." No bank note. No monthly payments. Just you and your paid-off house. But with nearly 40% of U.S. homeowners now mortgage-free, this version of the dream might be causing a few unintended nightmares. Shop Top Mortgage Rates Your Path to Homeownership A quicker path to financial freedom Personalized rates in minutes According to the 2023 American Community Survey, 39.8% of homeowners—roughly 34.1 million households—own their homes outright, a jump from 32.8% in 2010. It's the highest level of mortgage-free homeownership in 13 years. Don't Miss: Be part of the breakthrough that could replace plastic as we know it— $100k+ in investable assets? – no cost, no obligation. But here's where it gets complicated: this isn't a brand-new trend. The numbers have been steadily climbing for over a decade. A 2024 report from the National Association of Home Builders confirms this shift, highlighting regional pockets of mortgage-free ownership—especially in Southern districts like Texas, Kentucky, Mississippi, and West Virginia, where lower housing costs and older populations dominate the map. In fact, two-thirds of all mortgage-free homeowners in the U.S. are over 60. In contrast, homeowners under 35 make up just 5% of the mortgage-free crowd. Translation: Gen Z isn't tossing out amortization tables just yet. So why is this a problem? It starts with the lock-in effect. Many of these homeowners locked in ultra-low mortgage rates during the pandemic—or even years before. Now that rates hover around 7%, the idea of selling and buying again feels like a financial downgrade. So they stay. And as they stay, inventory shrinks—especially for first-time buyers trying to enter the market. Trending: This AI-Powered Trading Platform Has 5,000+ Users, 27 Pending Patents, and a $43.97M Valuation — But the real issue isn't just high rates—it's that a growing number of homeowners simply don't plan to move at all. Older, mortgage-free homeowners are increasingly choosing to "age in place"—which sounds practical, but in reality, it takes move-up homes off the market and clogs the entire pipeline. It's not just buyers who feel the squeeze. Fewer home sales means fewer jobs for contractors, real estate agents, remodelers, and the dozens of small businesses that orbit around residential turnover. And most older homeowners aren't going anywhere anytime soon. According to a recent Redfin survey, 78% of older homeowners plan to stay in their current homes as they age—by far the most popular long-term plan. Only 20% said they're considering a move to a 55+ community. A small number anticipate moving in with adult children (10%) or into an assisted-living facility (also 10%), while just 6% mentioned the idea of moving in with friends. In other words, the overwhelming majority intend to stay put—and with no mortgage tying them to a sale, there's little financial reason to kind of stagnation doesn't just slow the market—it freezes it. Then comes the generational divide. The mortgage-free population skews older, wealthier, and is often concentrated in lower-cost areas where paying off a home is more feasible. Younger buyers, on the other hand, are dealing with lower wages, record-high home prices, elevated interest rates, and more student debt. They're watching from the sidelines while the previous generation holds the keys—literally. It's not all bad news. Paying off a mortgage can provide financial stability and peace of mind, especially for retirees on a fixed income. But in the bigger picture, a nation full of owners sitting on equity they won't tap, homes they won't leave, and markets they won't refresh... well, that's less of a dream and more of a bottleneck. For real estate to thrive, it needs movement—up, down, sideways. Right now, a significant slice of the country is parked. So yes, being mortgage-free sounds great. But when nearly 4 in 10 homeowners are staying put and sitting on their home equity like it's a family heirloom, it's time to ask: what happens when no one moves? Read Next: With Point, you can Image: Shutterstock This article Nearly 40% Of Homeowners Are Mortgage-Free — You'd Think That's A Good Thing, But It's Fueling A Lock-In Crisis and Freezing the Housing Market originally appeared on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Washington Post
11 hours ago
- Washington Post
Uncovering the truth about international adoption
A rosy adoption narrative relies on simplicity: A needy orphan is embraced by noble, loving parents who treat them no differently than they would a biological child. When it comes to international adoption, this standard fairy tale has long been entwined with the American Dream: A needy orphan, languishing in an overcrowded and dilapidated institution, is rescued by American parents who provide them with opportunities they could never dream of in their country of origin.
Los Angeles Times
14 hours ago
- Los Angeles Times
Why ‘Piano Man' is not Billy Joel's best song
You like 'Piano Man?' Nothing wrong with that, other than it's not Billy Joel's best song. Los Angeles Times music critic Mikael Wood on why and what actually is Joel's best.
