Belleville

Business Briefing: Good school districts unaffordable to average wage earners

Where there is a school making the grade, chances are many afford to live in its district.

That’s the conclusion recently reached by the folks from online real estate tracker RealtyTrac, which examined the cost of living in a high-performing school district.

Their results revealed that out of 1,823 Zip codes with at least one good school, 1,192, or 65 percent, were unaffordable for the average wage earner. This meant that average wage earners would need to spend more than one-third of their income to afford a median-priced home in those districts.

RealtyTrac also reported that the average median sales price in 2015 for homes in Zip codes with good schools is $411,573, which is 95 percent higher than the average median home sales price in Zip codes without any good schools, which is $210,662.

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Shares of Best Buy stock have tumbled by more than 5 percent in early trading Thursday following disappointing quarterly sales. The electronics retailer expects “near flat” revenue in the fourth quarter, which includes the Christmas buying season. Read more here.

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UnitedHealth has cut its 2015 earnings forecast as it has announced that it is unsure about its role in public insurance exchanges. These exchanges have been a part of the health care industry’s recent overhaul, but as the nation’s largest health insurer, UnitedHealth wants to pull back on the marketing of its exchange business. Learn more here.

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The New York Times will end its printing and distribution of The International New York Times operation in Thailand at the end of the year. The move is coming as the cost of operating the newspaper in Southeast Asian has been rising and has become too costly, the paper said. Find out more here.

— Will Buss, BND business writer

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