Business and Finance
The Growing Dilemma: Renting vs. Buying a Home
“Renting or buying? A dilemma growing among prospective homeowners as they question the financial impact. Find out the emotional and financial value associated with homeownership in this Bank of America report.”
Buying a home has always been considered a significant investment, a cornerstone of financial stability and future security. However, a recent Bank of America Homebuyer Insights Report reveals a growing number of prospective homebuyers who fear that renting could have detrimental effects on their financial future. With high interest rates and soaring home prices, the uncertainty surrounding the decision to rent or buy has only intensified. This article delves into the reasons behind this dilemma and explores the emotional and financial value associated with homeownership.
The Rising Uncertainty:
The report reveals that 57% of respondents are unsure whether it is the right time to buy a home, compared to 48% from the previous year. This trend is particularly prominent among first-time homebuyers, with 62% expressing uncertainty. Higher interest rates and escalating home prices have left renters questioning the feasibility of homeownership in the current market. Matt Vernon, Head of Consumer Lending at Bank of America, recognizes this growing concern but emphasizes that research consistently supports the belief that owning a home is the best long-term decision for most prospective homebuyers.
Population Flows and Supply Challenges:
Complicating the decision-making process are the continuing population flows across the United States. As stated in the Bank of America Institute’s On the Move publication, cities in the South have experienced substantial inflows of people, primarily driven by younger generations. Despite an increase in housing supply to accommodate these changes, the supply of rental properties in some areas falls short of meeting the demands of growing populations. Consequently, while 37% of respondents prefer renting for now, 81% of prospective buyers still plan to purchase a home in the near future.
Emotional Value of Homeownership:
The report highlights the emotional and financial benefits of homeownership, with a majority of homeowners and prospective homebuyers recognizing these advantages. Homeownership offers a sense of permanence, emotional stability, control over living space, and fulfillment, according to the survey. However, baby boomers appear to be an exception to this outlook, with 80% favoring renting over buying. They value the freedom from property maintenance, financial responsibilities, and enjoy the flexibility of choosing when and where to move.
Lack of Confidence and Lessons Learned:
Prospective homebuyers also express a lack of confidence in various aspects of the homebuying process, including understanding financing, interest rates, homebuying terminology, and grant programs. However, meeting with lending specialists can be beneficial in exploring assistance programs, such as Bank of America’s down payment and closing cost grants. Furthermore, the report reveals that 66% of current homeowners would have done something differently when buying their first home, such as saving more for a down payment or considering other neighborhoods.
The Bank of America Community Homeownership Commitment:
The Bank of America Community Homeownership Commitment is a $15 billion program aimed at assisting low- and moderate-income homebuyers. This initiative is designed to address the lack of confidence expressed by prospective buyers in understanding various aspects of the homebuying process. Through the commitment, Bank of America offers down payment and closing cost grants, as well as access to lending specialists who can provide guidance on financing options, interest rates, and grant programs. The program also takes into account the lessons learned by current homeowners, with the goal of empowering potential buyers to make informed decisions and achieve successful homeownership.
About Bank of America Institute
Bank of America Institute is dedicated to uncovering powerful insights that move business and society forward. Established in 2022, the Institute is a think tank that draws on data and analyses from across the bank and the world to provide timely and original perspectives on the economy, sustainability, and global transformation. The Institute leverages the depth and breadth of the bank’s proprietary data, from approximately 68 million consumer and small business clients, 56 million verified digital users, $4.2 trillion in total payments in 2022 and $1.4 trillion in consumer and wealth management deposits. From this robust data set, the Institute provides a unique perspective on the health of the economy. It also elevates thought leadership from throughout the bank that addresses long-term trends and shares these findings with the general public.
Bank of America
Bank of America is one of the world’s leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 69 million consumer and small business clients with approximately 3,800 retail financial centers, approximately 15,000 ATMs (automated teller machines) and award-winning digital banking with approximately 57 million verified digital users. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 4 million small business households through a suite of innovative, easy-to-use online products and services. The company serves clients through operations across the United States, its territories and more than 35 countries. Bank of America Corporation stock is listed on the New York Stock Exchange (NYSE: BAC).
For more Bank of America news, including dividend announcements and other important information, visit the Bank of America newsroom and register for news email alerts.
SOURCE Bank of America Corporation
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ATLANTA, Feb. 19, 2025 /PRNewswire/ — GlassesUSA.com, a leader in the online eyewear industry, has just unveiled Drop 2 of its collaboration with NFL icon Von Miller. This collection showcases the results of a design process that leverages AI technology to reimagine every detail of the eyewear collection.
A fierce competitor on the field and a style innovator off it, Von Miller is the perfect partner for GlassesUSA.com’s mission to lead the eyewear industry through innovation. Together, Miller and the GlassesUSA.com team used AI to create an eyeglasses and sunglasses collection that embodies individuality, confidence, and cutting-edge design.
The Von Miller Eyewear Collection features premium acetate frames, complete with bold colors, innovative materials, and the signature VM logo embedded in the designs. Each pair is available as both prescription eyeglasses and sunglasses, giving customers more ways to express their individuality.
“Eyeglasses is about expressing who you are. I wanted to create something that empowers people to own their individuality,” said Von Miller. “Working with GlassesUSA.com and their AI technology allowed us to design a collection that makes finding your perfect pair of frames easy and exciting.”
This collaboration isn’t GlassesUSA.com’s first venture into AI. The brand has already made waves with its Pairfect Match AI, a cutting-edge tool that helps customers find their perfect frames. Now, the same innovative spirit extends into product design, showcasing GlassesUSA.com’s commitment to blending technology and creativity to revolutionize eyewear.
“At GlassesUSA.com, we leverage AI to develop innovative products and features that enhance the eyewear experience. Von was an amazing partner with an outstanding perspective on eyewear—we couldn’t have asked for a better collaborator on this project.” said Arie Tom, GlassesUSA.com’s CMO.
“We asked Von to imagine the kind of glasses he envisions—frames that push boundaries and speak to his unique sense of style,” said Lihi Kopel, Head of Design at GlassesUSA.com. “With AI, we reimagined how the frames, temples, and even the smallest details could look and feel, and brought it to life, creating something truly exceptional.”
The Von Miller Eyewear Collection is available now, exclusively at GlassesUSA.com. The drop consists of 6 styles and 17 SKUs, There are 4 optics and 2 sunglasses styles included. The color pallet is based on digital colors like digital purple, light green, gray, and metallics.
Customers can use the Virtual Try-On Tool to see how the frames look before purchasing, ensuring a perfect fit. Starting at $78, this collection redefines what’s possible in eyewear design.
Learn more at: Von Miller’s official glasses collection, exclusively at GlassesUSA.com.
About GlassesUSA.com:
Founded in 2007, GlassesUSA.com, a subsidiary of the Optimax Eyewear group, has quickly become one of the leading direct-to-consumer online eyewear retailers in the United States. We offer the largest selection of styles and brands, with over 10,000 styles of glasses, sunglasses, and contact lenses, making it easy for everyone to find their perfect pair. Our mission is to enhance our customers’ lives by delivering eyewear tailored to their unique needs, style preferences, and budgets.
By controlling the entire supply chain, from product design and manufacturing to optical lens production and the digital shopping experience, GlassesUSA.com provides exceptional savings, offering high-quality eyewear at up to 70% off traditional retail prices. Our broad selection includes popular brands like Ray-Ban, Oakley, Prada, and Gucci, as well as our own brands such as Muse, Ottoto, Revel, and Amelia E., starting from just $29, including shipping. GlassesUSA.com also offers a variety of optical lens options, coatings, and upgrades to meet every customer’s needs.
GlassesUSA.com develops and deploys innovative technology and AI-driven solutions to transform the eyewear industry and offer customers a seamless shopping experience.
GlassesUSA.com’s Tech Suite Includes:
- Pairfect Match AI™: Re-inventing the eyewear shopping experience with the power of AI. Pairfect Match AI™ provides customers with personalized frame recommendations based on their unique facial features, taking into account face shape and style preference.
- Live Try-On: An AR Virtual Mirror that bridges the physical and virtual worlds and enables users to try on thousands of glasses from home with their mobile phones.
Our products are meticulously crafted in our state-of-the-art optical lab in Atlanta, GA, with next-day shipping available across the US. GlassesUSA.com is part of the Optimax Eyewear group.
For more information, please visit https://www.GlassesUSA.com
SOURCE GlassesUSA.com
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Consumer Corner
Bipartisan Legislation Reintroduced to Protect Utilities, Ratepayers from PFAS Costs
The Water Environment Federation supports the reintroduction of the Water Systems PFAS Liability Protection Act, ensuring PFAS producers cover cleanup costs, protecting water utilities and communities from financial burdens.
WASHINGTON /PRNewswire/ — The Water Environment Federation (WEF) has expressed strong support for the reintroduction of the Water Systems PFAS Liability Protection Act. This bipartisan legislation, led by Reps. Marie Gluesenkamp Perez (D-WA) and Celeste Maloy (R-UT), aims to protect water utilities from undue financial burdens associated with per- and polyfluoroalkyl substances (PFAS) cleanup under the Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA). The bill ensures that PFAS producers, rather than the public, bear the cost of remediation.
“Water utilities and their customers should not be forced to pay remediation costs for issues they did not create,” said Ralph Exton, WEF’s Executive Director. “We applaud Representatives Gluesenkamp Perez and Maloy for their leadership in championing this critical legislation.”
The reintroduction of this legislation follows the Environmental Protection Agency’s (EPA) designation of PFOA and PFOS – two PFAS chemicals – as hazardous substances under CERCLA. This designation compels water utilities nationwide to remove these chemicals from drinking water, a process that involves significant financial costs.
By classifying PFOA and PFOS as hazardous substances, the EPA’s designation leaves water and wastewater utilities vulnerable to potential lawsuits from PFAS manufacturers. These entities may attempt to shift financial responsibility onto utilities through litigation, increasing operational costs that ultimately affect ratepayers.
“The Water Systems PFAS Liability Protection Act is a crucial step in ensuring that water and wastewater utilities — and, ultimately, the communities and ratepayers they serve — are not unfairly burdened with the costs of PFAS contamination cleanup,” said Exton. “These utilities are involuntary receivers of PFAS and did not create or profit from PFAS. However, without congressional action, they could be forced to bear immense financial and operational challenges.”
This legislation is necessary to protect utilities after their systems have been involuntarily affected by PFAS, but source control at the industrial and residential levels is a more efficient and cost-effective solution. The Minnesota Pollution Control Agency found that PFAS can be bought for $50 – $1,000 per pound. However, it costs between $2.7M and $18M per pound to remove or destroy from municipal systems depending on facility size.
Originally introduced in the previous Congress by Rep. John Curtis (R-UT), the bill received broad bipartisan support and remains an essential step toward ensuring fair and just accountability for PFAS contamination.
About WEF
The Water Environment Federation (WEF) is a not-for-profit technical and educational organization of more than 30,000 individual members and 75 affiliated Member Associations representing water quality professionals around the world. Established in 1928, WEF’s mission is to inspire the water community in pursuit of human and environmental well-being. WEF’s goals are to attract and develop a passionate workforce, cultivate a purpose-driven community to sustainably solve water challenges for all, and lead the transformation to the circular water economy.
SOURCE Water Environment Federation
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(Family Features) Clinical trials help researchers studying chronic conditions answer important questions about the diseases and their treatment options. However, uncertainty about what to expect and a lack of knowledge about how to get started can prevent patients from joining a clinical trial.
Choosing to take part in a clinical trial means helping a study team figure out if a new method of diagnosis, treatment or prevention is effective. If you live with a chronic condition, such as Crohn’s disease or ulcerative colitis, and want to help find answers for others who share your experience, a clinical trial is an option to consider.
Once you identify a study that interests you, you’ll want to talk with the professionals involved in your ongoing treatment, a clinical research coordinator and your family to gather information necessary to determine whether the clinical trial is a good fit.
To find additional information about clinical trials and begin exploring trials in your area, visit crohnscolitisfoundation.org, and consider these steps for participating in a trial.
1. Talking with Your Doctor
Your gastroenterologist and other care providers can help determine whether a clinical trial is right for you and may be able to help point you toward recommended trials. It’s important to ask if or how your doctor will continue to be involved in your care if you participate in a trial.
2. Finding a Study
If you need help beyond your care team in identifying clinical trial opportunities in your area, organizations dedicated to your condition can be a good resource. For example, the Crohn’s & Colitis Foundation offers an online Clinical Trial Finder for individuals with inflammatory bowel disease.
3. Talking with the Research Coordinator
A clinical trial research coordinator can provide details specific to your circumstances and needs. You can discuss potential benefits and risks, why the trial is being conducted and who is involved in the health care team. You can talk about past treatments and how this study may differ from your previous experiences. Other questions you might ask include what your options are if the trial doesn’t work, any costs you might expect and what your personal commitment will be.
4. Evaluating the Fit for You
Once you have the necessary information, you’ll be able to consider whether you’re ready to move forward with registering for the trial. You’ll want to weigh factors like your time commitment, travel distance and whether the trial will affect your personal or professional obligations.
Photos courtesy of Shutterstock
SOURCE:
Crohn’s & Colitis Foundation
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