The filing marks the largest provider bankruptcy in decades, according to experts.
As aggressive rate hikes by the U.S. Federal Reserve have pushed up the cost of standard 30-year mortgages to more than 7%, existing homeowners have held on to rock-bottom rates from the pandemic. "Somewhat ironically, the continued strength of the economy has made it harder to afford a home and widened the real-estate wealth gap between rich and poor Americans," Redfin Senior Economist Elijah de la Campa said. The median household income in the HMDA data for low-income households was $64,000.
A French female prison guard stood trial on Monday for planting a “kiss of death” on an incognito mafia boss that helped rivals identify him and gun him down.