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Marketplace All-in-One

Wanna be a homeowner? It’ll cost ya.

Marketplace All-in-One

Marketplace

News, Business

4.81.3K Ratings

🗓️ 21 December 2023

⏱️ 8 minutes

🧾️ Download transcript

Summary

The costs that go with owning a home — including mortgage payments, insurance and taxes — now eat up about 34% of the average wage nationwide, according to a report out today. That’s more than many lenders advise and comes as a wave of millennials and Gen Zers look toward homeownership. Also on the show: Apple watches, consumer confidence, and Turkey’s painfully interest rates.

Transcript

Click on a timestamp to play from that location

0:00.0

Taking a bite out of apple from Marketplace. I'm Sabrie Benashore in for David Brancaccio.

0:07.0

Starting today, Apple is halting online sales of its Series 9 and Ultra 2 Apple watches here in the U.S.

0:14.0

It's set to yank them from physical store shelves too by Christmas.

0:17.5

Marketplace's Lily Jamale reports the move comes after Apple lost a patent war

0:22.0

before the U.S. International Trade Commission.

0:25.0

Back in October, the Commission sided with a medical technology company that charged Apple

0:29.8

copied its technology but failed to pay royalties.

0:33.5

The patents involved have to do with a feature called a pulse oximeter, which can measure

0:37.7

a user's blood oxygen levels.

0:40.3

While the sales stoppage includes Series 9 and Ultra 2 Apple watches, it won't apply to other

0:45.7

models that don't include the feature.

0:48.2

Apple has said it disagrees with the ITC's order and is pursuing its options.

0:53.0

The Biden administration has the power to overturn the Commission's ruling.

0:57.0

If it does nothing, an import ban on the watches would take effect the day after Christmas.

1:02.0

I'm Lily Dramale for Marketplace.

1:04.0

And by the way, while Apple cannot sell the watches, other retailers that still have them in stock can,

1:10.0

but once they're gone, they're gone, there's no importing more.

1:14.0

Some economic numbers out today.

1:16.3

GDP growth from July through September wasn't quite as big as initially estimated.

1:20.9

The economy grew at a rate of 4.9% down from an estimated 5.2%.

1:26.8

Consumers, though, are very confident.

1:28.6

Surveys show.

...

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