GO in the Know: Cost of Buying a Home Soars & Top Financial News for August 15

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Today is a classic case of good news, bad news. First, the bad news — it’s Monday. But now, the good news — it’s National Relaxation Day. So take a load off and catch up on today’s top financial stories.

The Big Lead: Houses Cost More in June Than Any Time in the Past Three Decades

It seems U.S. prices in 2022 can’t avoid comparisons to the 1980s. Overall inflation is running at its highest level since 1981, and the cost of buying a home has reached its highest point since 1989, according to a new report from the National Association of Realtors.

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Business Spotlight: Porsche

To celebrate the 20th anniversary of the 2002 911 Carrera, Pixar Animation Studios, Porsche Cars North America and Style Porsche in Weissach (Porsche’s design and development center in Germany) have collaborated on a real-life, modern-day version of the most famous Carrera — the much-loved Sally from the 2006 classic movie “Cars” (voiced by Bonnie Hunt). The working replica will be auctioned on August 20.

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That’s Interesting: Energy Secretary Says Gas Prices Will Continue to Fall — Unless This Happens

The nation’s top energy official has some cheery news for American motorists — your gas prices should continue to fall in the coming months, and possibly hit their lowest point since last winter. Don’t get your hopes up just yet, though.

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Bonus: 5 Ways the Inflation Reduction Act Falls Short for American Families

The Inflation Reduction Act of 2022 is an extensive bill targeted at fighting climate change, slashing the national deficit and lowering the price of prescription drugs. However, there are some areas where the bill falls short for many families.

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