The average cost of owning and maintaining a home has jumped up by 26% since 2020.

Bankrate released a report on Monday that reveals the “hidden costs” of homeownership factoring in several factors, including average property taxes, homeowners insurance, home maintenance, and utility bills.

“Everything has gotten more expensive in the past four years,” Bankrate researchers wrote, pointing out that home prices have increased by 40% since the start of the pandemic.

Home upkeep costs have increased from $14,428 per year or $1,202 per month in 2020 to $18,118 a year or $1,510 per month in 2024 — on top of a monthly mortgage payment.

Hawaii takes the top spot with the high typical price of a single-family home ($993,000) driving up estimated maintenance costs. According to Best Place, the cost of living in Hawaii is 65.7% higher than the U.S. average.

While the usual suspects such as California and Massachusetts rounded out the top five, there were some surprising entrants — New Hampshire, for example, came in at No. 7 with average annual hidden costs of $23,256.

Related: These Are the 10 Most Expensive States to Be a Homeowner in the U.S.

Here are the 10 states with the highest hidden homeownership costs.

1. Hawaii

Average annual hidden homeownership costs in 2024: $29,015

Percent difference from 2020 to 2024: 38%

2. California

Average annual hidden homeownership costs in 2024: $28,790

Percent difference from 2020 to 2024: 32%

3. Massachusetts

Average annual hidden homeownership costs in 2024: $26,313

Percent difference from 2020 to 2024: 28%

4. New Jersey

Average annual hidden homeownership costs in 2024: $25,573

Percent difference from 2020 to 2024: 25%

5. Connecticut

Average annual hidden homeownership costs in 2024: $23,515

Percent difference from 2020 to 2024: 24%

6. Washington

Average annual hidden homeownership costs in 2024: $23,365

Percent difference from 2020 to 2024: 32%

7. New Hampshire

Average annual hidden homeownership costs in 2024: $23,256

Percent difference from 2020 to 2024: 29%

8. New York

Average annual hidden homeownership costs in 2024: $22,807

Percent difference from 2020 to 2024: 25%

9. Rhode Island

Average annual hidden homeownership costs in 2024: $21,994

Percent difference from 2020 to 2024: 27%

10. Colorado

Average annual hidden homeownership costs in 2024: $21,038

Percent difference from 2020 to 2024: 33%

“Shark Tank” star Kevin O’Leary has some predictions for people hoping to purchase a home in the current market — and it’s not great news.

O’Leary Ventures Chairman and “Shark Tank” star Kevin O’Leary appeared on Fox Business’s “Sunday Night in America with Trey Gowdy” to talk about the housing market and why prospective buyers shouldn’t plan on prices cooling soon.

Related: Kevin O’Leary Issues Stark Warning About Real Estate Industry

Citing sky-high interest rates put in place to offset inflation, the investment expert noted that though “real estate has always been a good investment,” it doesn’t mean the prices will drop.

‘Hard to see’ rates dropping soon

“Only 12 months ago, we were thinking seven rate cuts, of which none have appeared because inflation remains rampant,” O’Leary said, citing high interest rates. “It’s hard to see that change. I’m not sure that’s going to change at all.

O’Leary also mentioned the “weird outcome” of the pandemic, where people moved out of cities, which then caused those home prices to rise.

“The prices of those houses in rural regions went way through the roof,” O’Leary said. “It’s a new America. It’s a digitized America, and housing is more expensive.”

O’Leary’s sentiments follow comments he made last fall on FOX Business’s “Varney & Co” about the commercial real estate industry that was only getting “worse by the week.”

Related: Kevin O’Leary Defends Elon Musk, Calls Out ‘Loser States’

“Unfortunately, what we have is many of [commercial mortgages] are on the balance sheets of regional banks, up to 40% of their balance sheets. These are going to come through, rolling through refinancings over the next 18 to 30 months,” he explained. “We’re going to see more cracks on regional banks, and that’s putting pressure on the loan books of those banks which are hitting small business.”

The current target Fed rate is 5.25% – 5.50%. Mortgage rates for a 30-year loan are currently 6.99% per Freddie Mac.

O’Leary’s estimated net worth as of Monday morning was $400 million.

After endless rumors, Apple has finally revealed how it’s upgrading the iPhone with a jolt of AI.

Apple, the largest smartphone maker in the U.S., held its annual Worldwide Developer Conference on Monday and announced “Apple Intelligence” at the event, or AI for the iPhone.

It’s also partnering with OpenAI to bring ChatGPT to Apple products, starting with OpenAI’s newest GPT-4o model.

^{Apple CEO Tim Cook at the Apple Worldwide Developers Conference (WWDC) on June 10, 2024 in Cupertino, California. (Photo by Justin Sullivan/Getty Images)}

Apple’s new AI upgrades Siri and allows the voice assistant to work inside apps to get things done. For example, Siri will soon be able to search through your photos, find a picture of your driver’s license, extract the numbers, and put it in a web form for you.

Another new feature, Genmoji, means that iPhone users can generate emojis from a written prompt on their phone keyboard.

“What’s truly unique” about Apple Intelligence “is its understanding of your personal context,” Apple senior vice president of software engineering Craig Federighi said.

In one example, Apple’s new AI will be able to rank notifications on the lock screen to minimize distractions and put higher-priority notifications first.

ChatGPT in your iPhone will be able to answer prompts that Siri can’t while keeping user info and questions private, according to Apple.

Related: OpenAI’s New ChatGPT Sounds Almost Human in Latest Update

Apple’s new private cloud compute safeguard for its AI “sets a brand-new standard for privacy,” according to Federighi.

Under the standard, Apple processes AI requests locally, on devices, as much as it can; it only sends relevant data to servers the company created.

Apple says it never stores data.

This is the first time Apple has announced “profound new intelligence capabilities,” as CEO Tim Cook called it. However, Apple has already made internal improvements to one product lineup to support AI.

In May, Apple announced an all-new M4 chip, which Apple vice president of platform architecture Tim Millet called an “outrageously powerful chip for AI.”

Related: Apple Event: New iPad Pro Looks, Acts Like a MacBook Air

The chip powers Apple’s new line of iPad Pros.

iPads will also be getting a calculator app for the first time in 14 years with Apple Pencil support, Apple announced at WWDC. Users can write down or sketch out math problems on the calculator and have the app solve them.

Schedule Texts, Hide Apps

iPhone users will also soon be able to take advantage of a new software update, iOS 18.

The new iOS 18 will allow users to lock an app with FaceID on their iPhone and hide apps entirely from the home screen — plus schedule text messages to send later, and add any emoji or sticker to a text to respond.

iOS 18 also means that iPhone users can customize the home screen with new colors and place apps in new places along the screen.

Apple is officially adopting RCS (Rich Communication Services) on its iPhones, which means that Android phones will be able to send high-quality photos and videos to iPhones.

Related: How to Present Like Steve Jobs at Apple Developers Conference

A public beta of iOS 18 will come out in July, and the general public will get to use it starting in September.

Following bombshell allegations earlier this year, a new report by the Transportation Ministry of Japan found that Toyota falsified data to certify select vehicles. The news caused the carmaker’s stock valuation to plummet by $15 billion in one week.

Toyota dipped an estimated 5.3% following the June 3 report, resulting in a loss of 2.45 trillion Japanese yen, equivalent to just over $15 billion.

Related: Toyota Airbag Recall 2023: See Which Models Are Affected

The inspection and subsequent report led Toyota to immediately halt shipments of three vehicles (Corolla Fielder, Corolla Axio, and Yaris Cross). Four other models have been discontinued since the data was found to be incorrect.

The falsified tests were reportedly conducted in 2014, 2015, and 2020.

“As the person in charge of the Toyota Group, I would like to sincerely [apologize] to our customers, to car fans, and all stakeholders for this,” said Akio Toyoda, Toyota chairman and grandson of the company’s founder, at a press conference last week.

Related: Who Is Shoichiro Toyoda? The First Heir to the Toyota Empire and Father of Current CEO Akio Toyoda Has Died

Still, the carmaker’s market cap is around $280 billion.

The scandal began in January 2024 after Japanese officials raided a Toyota factory following an admission from Toyota executives that the company had falsified the results of certain engine testing.

Meanwhile, the company reported a strong FY 2024 (which began in April 2023 and ended in March 2024) with a sales revenue of 45,095.3 billion yen, a 21.4% increase from FY 2023.

The results of the investigation are expected to harm the company’s future earnings. Toyota is expected to report Q1 FY 2025 in August.

Have you ever wondered how some people turn their passions into successful careers? Roger Rojas, known as The Content CEO, says that it comes down to staying curious, seizing opportunities, and surrounding yourself with supportive individuals.

Related: Here’s How to Write Your Own Formula for Success

Saying Yes to New Challenges

On this episode of The Jeff Fenster Show, Roger stresses the value of saying yes to new challenges. He recounts how he initially started as a photographer, but when the opportunity to learn videography arose, he didn’t hesitate to take it. This willingness to step out of his comfort zone and embrace new challenges allowed him to expand his skill set and open doors to new opportunities.

Listen in and hear Roger’s inspiring journey to learn how he created a business and brand around his love of content creation.

About The Jeff Fenster Show

Serial entrepreneur Jeff Fenster embarks on an extraordinary journey every week, delving into the stories of exceptional individuals who have defied the norms and blazed their own trails to achieve extraordinary success.

Subscribe to The Jeff Fenster Show: Entrepreneur | Apple | Spotify | Google | Pandora

Rowdy bars have been known to impose age restrictions during peak times and busy hours, but one restaurant in Missouri is going viral for only allowing patrons aged 30 and older in the evenings.

Bliss restaurant in Florissant, Missouri, about 20 miles from St. Louis, requires women diners to be 30 or older and male diners to be 35 or older to enter after 7:00 p.m. local time Wednesdays through Sundays. The owners say the initiative is to curb the “drama” of the younger crowd and create a space for adult patrons to enjoy happy hour in a more refined setting.

The restaurant, which features upscale West African and Caribbean fare, just opened last month and aims to make guests feel like they are on vacation.

Related: An Ohio Pub Is Going Viral for Its ‘No Exceptions’ Door Policy — Here’s Why

“I think Bliss is a home away from home,” owner Marvin Pate told local outlet KSDK. “Of course, we have been getting a little backlash because of our policy, but that’s okay, we’re sticking to our code.”

On Yelp, the restaurant has a 2.5-star rating, though it’s only been open for a couple of weeks. Patrons have written mixed reviews about the age requirement and how it affected their dining experience.

“Obnoxious age requirement,” one person wrote.

“Love the age restrictions,” another countered. “I can actually hear myself think in here and the vibes are immaculate.”

Bliss is open from 4 p.m. to 10:30 p.m. on Wednesdays through Sundays, meaning patrons under 30 (or 25, depending on gender) can only dine there from 4 to 7 p.m.

RELATED: How This Couple Transformed a Gas Station Kitchen Into a Legendary BBQ Destination

“The restaurant is just something for the older people to come do, have a happy hour, come get some good food, and not have to worry about some of the young folks who bring some of that drama,” Assistant Manager Erica Rhodes said.

Bliss’ rule follows a similar policy a bar in Ohio implemented with a 30-year-old minimum age requirement for entry on the weekends to curb rowdy behavior.

“The amount of clientele we’ve gained on the weekends has made us have to make adjustments for safety purposes,” Donerick’s Pub Groveport wrote on Facebook at the time. “Keeping our customers safe is our top priority!”

RELATED: Ever Dreamed of Owning Your Own Restaurant? These Top Full-Service Restaurant Franchises Are the Best in the Business

When ChatGPT was introduced last year, businesses across all industries seemed to stop and take notice while urgently scrambling to figure out how best to leverage the groundbreaking tech.

For those who are still looking at the AI-powered chatbot with curiosity, there are some tried and true steps that any business leader can take to use it for improved business strategy, streamlined production, and better programming.

From there, a savvy leader can find endless routes toward leveraging the tech for increased profits and improved productivity. In the meantime, here are five tips to use ChatGPT to improve your business.

1. Generate an improved business plan.

Whether you have a business on the rise or one that’s been up and running for a while, you should always be on the lookout for ways to improve. ChatGPT is an excellent resource for scouting new ideas and analyzing existing ones.

Is your budget as efficient as it can be? Are your resources allocated in a way that’s well-balanced and most appropriate for your business? Is your five-year plan as robust and thoughtful as possible?

These are all examples of questions that you can ask ChatGPT. Business leaders from around the world have found useful tips and ideas from this exact practice, so anyone who isn’t at least trying is failing to make the most of the resources they have around them.

2. Scale up programming and coding.

ChatGPT is a reputable coding machine. Whether you’re looking for a block of code in a given language to add new functionality to a landing page or a simple line to change the font of a piece of text that’s meant to pop, you can ask ChatGPT to write it for you, which it should be able to do in no time at all.

If you’re concerned about falling into grey areas with ChatGPT, where it can’t produce the exact code you’re looking for, you should start trying. The more you type and troubleshoot with the chatbot, the more it will learn about your specific vision, and the better it will be able to deliver the code you need to achieve it.

3. Increase your content production output.

Content production is key to growing a business in today’s digital age. That’s why the global content marketing industry is worth more than $63 billion. Any business leader trying to keep up in this fast-paced world will likely find themselves struggling to balance budgets and hire enough freelancers to keep up with regular social media production, email output, and blog writing.

ChatGPT can help automate all of the above when prompted correctly. This Introduction to AI: ChatGPT and Midjourney Overview Bundle features insightful breakdowns on how to best leverage ChatGPT to produce content for your business on a regular basis. In theory, once you’ve accomplished a strong and effective workflow with ChatGPT, it could save you countless amounts of money.

4. Pair ChatGPT with other AI technologies.

You’ll notice in the bundle we previously mentioned, which happens to be discounted to just $49.99 (reg. $149) for a limited time only, there are tips and lectures on working with other AI technologies like Midjourney.

By pairing the writing you have ChatGPT do for your business with original images from other AI resources like these, you can create a full-tilt content marketing production machine. Looking beyond generators, you can find a range of AI-powered products like project management platforms and voiceover generators that you can leverage alongside your ChatGPT content.

5. Revise, refresh, and repeat.

The first tip in this breakdown involves having ChatGPT analyze your business. The last tip is to continue that practice into the future. While the markets change and best practices advance, ChatGPT will continue to learn and be able to offer new insights on how to best code a specific function, what the ideal SEO approach to a piece of writing might be, and so on.

In addition to making it a regular practice to run your business plan through ChatGPT, you can also use it to help you and your team figure out how to refresh existing content. Every year or so, for example, you can feed it an old blog post or email and then ask it to optimize the piece for the current day based on best practices that you want to prioritize.

By continuously leaning on ChatGPT’s automation and ideation skills, you can save yourself or your team tons of time and money on human contractors. For small, just-starting-out businesses, it can be the difference between getting your business up on its feet or not.

StackSocial prices subject to change.

Father’s Day is a great time to show Dad you really know him. And for project-oriented fathers who are always trying to check off boxes and be their most productive selves, you could win the day with Microsoft Project 2021 Professional. This leading project management tool is on sale through June 10 as part of our Father’s Day Sale.

Microsoft Project has earned 4.4/5 stars on GetApp and Capterra. TechRadar writes, “Microsoft Project remains an excellent project management tool for experienced professionals. Its ability to forecast project costs and assign resources based on intricate details means it can simply go further than and do more than the alternative project solutions.”

This powerful tool is surprisingly intuitive to use, giving you a range of pre-built templates for all kinds of projects. You can seamlessly manage projects with the right timelines, budgets, and resources for your specific needs. Scheduling and organizing multiple timelines is a breeze, while built-in reports help you identify bottlenecks, iron out inefficiencies, and make more informed decisions on each individual task. You can even run what-if scenarios to explore the potential outcomes of different decisions.

You can sync with Project Online and Project Server to keep everything organized from start to finish. Plus, Microsoft Project supports the Long-Term Servicing Channel (LTSC) and is compatible with Office LTSC and Office 2021 for even more streamlined management.

This offer is made possible by an authorized Microsoft Partner, so you know you’re getting a legit deal.

Now through 11:59 p.m. PT on June 10, you can get Microsoft Project 2021 Professional for just $19.97 (reg. $249) for Father’s Day.

StackSocial prices subject to change.

More small-business owners surveyed named increased prices as the factor expected to have the biggest economic impact on their companies than any other. So, if you’re looking for a Father’s Day gift that could make a real difference, you may want to take advantage of our holiday price drop.

Lifetime access to the seven most popular MS Office programs is available for one low price. Get Microsoft Office Professional Plus 2019 for Windows for just $29.97 through June 10.

This suite includes Excel, Word, Access, PowerPoint, OneNote, Outlook, and Publisher. It’s a one-time purchase for a single installation on your Windows PC to use at work or at home. Your software license keys will be delivered immediately, and you can use the download links to install the program instantly. Free customer support is also included.

This version of Office 2019 has been redesigned for improved cloud connectivity. It includes fresh features that aren’t found in non-Pro Plus editions, so you can accomplish more in less time. All of the programs have enhanced inking. Excel has expanded analysis capabilities, and PowerPoint is sporting extra presentation tools. Plus, Outlook has updated its features to help manage contacts and emails.

The license is for one installation on one computer. It’s also important to note that it does not include Teams.

It’s easy to see why buyers are pleased with it. Like many others, verified purchaser Russell Letner rated this deal a perfect five stars, writing, “Great deal on the best Office set of programs for Windows. Installed easily and works great. Would buy again!”

Get a lifetime license for Microsoft Office Professional Plus 2019 for Windows, while the price has dropped to $29.97 through June 10 for our Father’s Day sale.

StackSocial prices subject to change.

Ever wonder how you can connect with new people at a networking event without making it awkward? Lean into it.

I’ll provide more context to highlight the outcome.

I recently attended IAB Podcast Upfronts here in New York City. While I was wandering around pretending like I had somewhere to go, I noticed two guys who looked friendly enough to approach. Then, I used my go-to approach for new people at events like this.

I walked over and said “I’m just going to awkwardly insert myself in this conversation”. Fortunately, they were very receptive, and that’s how I met Gary Coichy.

With two decades of experience on both the agency and brand side, Gary decided to establish Pod Digital Media (PDM), a leading podcast agency that stands out as the first Multicultural Podcast agency network, providing advertisers with access to the diverse multicultural audience segment within the podcast ecosystem.

I followed up with Gary after the event to learn more about how he built PDM, his predictions for the future of the podcast industry and insights he could share with other entrepreneurs.

Leadership

During our chat Gary emphasized the pioneering role PDM played in recognizing and monetizing podcasts by underrepresented groups like African Americans, Hispanics, and the LGBTQ community.

Early on he discovered partnering with overlooked audiences could position his company as an industry leader and create new opportunities for growth and influence.

Historically, if you don’t have a big audience it’s challenging if not impossible to land brand deals. But Gary realized the power of creating a centralized network of podcast hosts, combining their reach, and then selling packages to advertisers that include placement on several different podcasts.

This proved to be advantageous for brands as it increased their reach network of hosts. For example, instead of just getting 1,000 ad impressions on one podcast, they could get 20,000 ad impressions on twenty separate podcasts without negotiating several agreements.

As Gary shared “We were the first company in 2017, to basically identify the value of partnering with a podcast host of color. At the time there wasn’t one centralized location for advertisers to tap into their audiences so this was a huge unlock.”

His leadership strategy involved seeing potential where larger networks saw limitations due to scale and financial viability. And Gary’s first big break came from landing HBO as a client in 2019.

Today, PDM’s network consists of top ranked podcasts including The Kenny Burns Show, Behind The Mask, Black Girl Texting and Social Proof.

Key takeaway:

Like Gary, you should consider pioneering in untapped markets where you can lead and define the terms of engagement.

Related: Want to Improve Your Productivity? These 7 Types of Music Will Help You Focus

Innovation

PDM continued to grow but Gary knew it was important to proactively evolve.. He shared a thought that came to mind which sparked their next phase.

“What other ways can you diversify your offering to ensure that your advertisers can get more than just an ad read or do an ad 30 seconds ad placement on a podcast to still reach that audience authentically?”

As a result PDM House was launched as a live podcast activation to engage audiences directly during key cultural events.

Gary provides more details. “We take podcasters on the road around key cultural moments like Art Basel, the Super Bowl and Fashion Week; all while having a fully immersed brand experience that leads to meaningful conversations.”

Key takeaway:

Creators and brands should constantly seek new ways to deliver content and engage with their audience so they can turn standard interactions into unique, memorable experiences.

Predictions

Gary foresees the continued evolution and influence of big names entering the podcast space, which will only enhance its popularity and reach. You can also expect to see more brands host podcasts that share content adjacent to their core offering.

For example, Yelp has a podcast called Behind the Review that features conversations with reviewers and business owners about their experiences—whether it was one star or five stars—giving listeners behind-the-scenes insights into what was really going on.

When asked about the impact AI will have on the podcast industry, Gary offered shared good news for anyone concerned about being edged out: “I don’t necessarily see AI complete takeover within the next two years. However, I do see playing a bigger role, as far as the A/B testing, and different ads that may be working that may be resonating, not resonating as driving revenue.”

Key takeaway:

Staying ahead of these trends allows for strategic adaptations that can keep your company competitive and relevant.