TUESDAY, SEPTEMBER 6, 2022 |
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In today's newsletter, food inflation explained through a chocolate chip cookie recipe, low-cost flights direct to hot spots take off at airports and it's Michigan law to start school after Labor Day, so why are most starting earlier? |
How was your long weekend? |
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‘Housing correction’ is coming. What homeowners, buyers and sellers should know. |
What to expect from the market: Coming out of the pandemic shutdown lit the match for housing demand and it’s been burning hot for nearly two years straight — but a housing correction is finally on the horizon. Assuming the economy continues to slow but not dip into a recession, here’s what an expert expects for homeowners, buyers and sellers. Overvaluation in housing: A recent Moody Analytics report found 16 markets in Michigan were overvalued by 15% or more. Muskegon saw the highest rate of overvaluation at 72.7%.
Double zero: First-time homebuyers have a new lending option to help them get into the market. Bank of America announced a new zero down payment, zero closing cost mortgage solution for first-time homebuyers. |
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It’s Michigan law to start school after Labor Day. So why are most starting earlier? |
Only a few: A state law in place for 16 years mandates that all Michigan public schools start after Labor Day, but only a quarter of the state’s districts plan to kick off their school year today.
Although Michigan has required a post-Labor Day school start since passing the 2005 law in a nod to the state’s summer tourism industry, individual schools, districts and representative intermediate school districts can receive waivers from the Michigan Department of Education allowing them to bypass the law and start the school year earlier.
More early starts: The number of ISDs approved for waivers has grown from 29 from 2019-21 to 49 approved for 2022-24, according to MDE. During that same time, the number of charter school academies with waivers also grew from 64 to 94. |
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Food inflation – explained through a chocolate chip cookie recipe. |
Food costs have soared: You have undoubtedly noticed your dollars do not stretch as far as they once did at the grocery store. Food costs have gone up 10.9% in a year with “food at home” experiencing a steep 13.1% annual rise. We haven’t seen rapidly rising prices like this since 1979.
Each step of the recipe: Here is a look at how pandemic supply-chain issues, the war in Ukraine, climate change and other concerns have driven up costs of flour, sugar, eggs, butter and chocolate, aka, a beloved recipe: Chocolate chip cookies. Another answer: If you don't have a sweet tooth, here's another look at why food costs are so high - starting with the ground. |
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Conventions, campaigns and court fights: Michigan November election preview |
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Low-cost flights direct to hot spots take off at Michigan airports |
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Can you believe it's already Tuesday?
Remember, you can find the latest Michigan news at MLive.com. Here's a link to become an MLive subscriber.
Enjoy the short week!
— Jamie Rewerts |
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