Thursday’s business headlines

INDIANAPOLIS (WISH) — Here’s a look at Thursday’s business headlines with Jane King.

U.S. home prices break $400K for first time

The average U.S. home prices broke to $400,000 for the first time ever, but sales are slumping to a two-year low.

The median U.S. home price is $407,000, but interest rates are rising and that is leading JP Morgan Chase to lay off hundreds of workers in its mortgage department.

More Americans relying on side hustles

For many workers, one job is just not cutting it and inflation is to blame.

Fox Business reports more Americans are now relying on side hustles to make ends meet.

This year, approximately 41% of side hustlers need the extra cash to cover everyday expenses; in 2019, 31% of U.S. workers said they also needed a second job to bring in additional income.

Retirement accounts dwindling

When investors get their quarterly 401k statements in the next few weeks, they’ll be hit with some bad news.

The S&P 500, the broadest measure of U.S. stocks, is down 21%, the NASDAQ nearly 30%, and the DOW 16% so far this year.

Americans are seeing the value of their retirement accounts dwindle by the trillions.

Estimated 41% of adults face healthcare debt

An estimated 41% of adults face healthcare debt, ranging from under $500 to $10,000 or more.

The Kaiser Foundation study comes ahead of scheduled changes to the way medical debt shows up on consumer credit reports.

Some of that medical debt may not have shown up in past estimates or surveys. For example, some is on credit cards or is being paid off over time directly to a doctor, hospital or other healthcare provider.