The decision to become a physician assistant, or PA, is a noble but big one. PAs work at hospitals, medical offices, nursing homes, retail clinics, community health centers, and in the federal government.
Becoming a PA often means taking on student loans, which begs the question: Is PA school worth the debt?
Average Cost of PA School
In the 2019-2020 school year, the average cost of PA school was $56,850 for two years at an in-state school and $101,500 for an out-of-state school, according to the American Academy of Physician Assistants.
Before sticker shock sets in, the average salary of certified PAs in 2022 was $125,270 per year. Those working in outpatient care centers, one of the highest paying locations, average a mean annual salary of $137,040.
Once those salaries are claimed and regularly earned, there’s the matter of loan repayment. This guide will help readers consider strategies to handle PA school debt.
Recommended: How Much Does PA School Cost?
Physician Assistant (PA) School Repayment Options
Fortunately, there are options available for PAs who are mindful of interest and debt accumulating in their name. The big one is the federal government’s Public Service Loan Forgiveness program, which kicks in “if you are employed by a U.S. federal, state, local, or tribal government or not-for-profit organization.” PSLF forgives the remaining balance on Direct Loans after 120 qualifying payments (a big number that can often boil down to 10 years’ worth of payments) under a qualifying repayment plan.
Another option for PAs is an income-driven repayment plan. There are four plans to choose from, including Income-Contingent Repayment, Pay As You Earn, Revised Pay As You Earn, and Income-Based Repayment. Similar to Public Service Loan Forgiveness, the motivation for these plans is working toward student loan forgiveness — if PAs can’t qualify for PSLF, possibly because they work for a private employer, they could still receive loan forgiveness after 20 or 25 years of repayment under an income-driven repayment plan. 💡 Quick Tip: Some student loan refinance lenders offer no fees, saving borrowers money.
Other Payment Programs
There are also federal and state programs that reimburse health care workers in underserved areas, also called Health Professional Shortage Areas. The Health Resources & Services Administration offers a searchable online database of shortage areas by state and county, and a tool to check if a location has been officially designated as an underserved area.
Then there are State-based Loan Repayment Programs, whose financial incentive can vary depending on specialty. Colorado, for example, offers $90,000 for a full-time PA ($45,000 for a part-time PA), and PAs must “agree to work for a term of three years at an approved site, work part-time or full-time with a minimum of clinical contact hours, and also meet the hourly requirements during the entire service obligation.”
States vary in requirements and awards. The Health Resources & Services Administration also is of help in looking into SLRPs.
Planning for the Future
One way to minimize the shock of shouldering PA school debt is to build a budget — and stick to it. Although pretty much everyone knows that budgeting is a smart idea, few actually put it into practice: According to the National Foundation for Credit Counseling, more than half the population (56%) did not have a budget in 2021.
A simple way to create a budget is to list out all of your fixed expenses. Fixed expenses do not change month-to-month and include things like rent or mortgage payments, car payments, student loan payments, daycare costs, cell phone services, gym memberships, and more. Next, list out your variable expenses, which do change depending on the month. Variable expenses include food, gas, entertainment, utilities, clothing, and emergency expenses. If your income does not exceed your spending, create spending limits for your variable expenses. Make sure to budget for retirement, emergency savings, and other miscellaneous expenses that may crop up.
Refinancing School Debt
It’s no secret that pretty much any type of higher education career often means taking on considerable student loan debt. If it reaches a point where making real progress on repaying the loans feels nearly impossible, federal student loan repayment and forgiveness programs either don’t apply or aren’t the right fit, or personal loans are involved, then refinancing with a private lender might be a good option.
With refinancing, a new loan is used to pay off one or more existing federal or private loans. In addition to combining multiple loans into one, qualified borrowers may also land a better interest rate, reducing the amount they pay in interest over the life of the loan assuming the loan term does not change.
Recommended: Student Loan Refinancing Calculator
However, refinancing federal student loans with a private lender means a borrower is no longer eligible for many of the state and federal programs mentioned above, or other protections and benefits extended to federal student loan borrowers. Those looking to combine federal loans only can consider a student loan consolidation.
Refinancing Student Loans With SoFi
Looking to lower your monthly student loan payment? Refinancing may be one way to do it — by extending your loan term, getting a lower interest rate than what you currently have, or both. (Please note that refinancing federal loans makes them ineligible for federal forgiveness and protections. Also, lengthening your loan term may mean paying more in interest over the life of the loan.) SoFi student loan refinancing offers flexible terms that fit your budget.
With SoFi, refinancing is fast, easy, and all online. We offer competitive fixed and variable rates.
SoFi Student Loan Refinance If you are a federal student loan borrower, you should consider all of your repayment opportunities including the opportunity to refinance your student loan debt at a lower APR or to extend your term to achieve a lower monthly payment. Please note that once you refinance federal student loans you will no longer be eligible for current or future flexible payment options available to federal loan borrowers, including but not limited to income-based repayment plans or extended repayment plans.
SoFi Loan Products SoFi loans are originated by SoFi Bank, N.A., NMLS #696891 (Member FDIC). For additional product-specific legal and licensing information, see SoFi.com/legal. Equal Housing Lender.
Non affiliation: SoFi isn’t affiliated with any of the companies highlighted in this article.
Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.
Oregon, located on the Pacific coast, is a state that offers a variety of lifestyles. From bustling cities to quiet, scenic rural areas, this state has something for everyone. However, Oregon’s rents can be quite disparate, with some areas being quite affordable and others much less so. For renters seeking economical living options, our research indicates that five cities in Oregon stand out for their affordability. These cities are La Grande, Klamath Falls, Dallas, Forest Grove, and Lebanon. Each of these locations offers a unique set of attractions and advantages for residents beyond just affordable rent.
La Grande, OR
With a population of 13,380, La Grande is a small city that provides a friendly, close-knit community atmosphere. The median income here is $45,573 and the median home value is $183,600. The average asking rent for a 2-bedroom apartment is quite affordable at $945. One of the main attractions of La Grande is its beautiful location in the Blue Mountains, providing abundant opportunities for outdoor activities. It’s situated along I-84, offering easy access to other parts of the state and beyond. The city also boasts a historic downtown with a variety of shops and restaurants.
Klamath Falls, OR
Klamath Falls is a charming city with a population of 21,509, and it offers residents the best of both city and country living. The median income in the city is $40,783, with a median home value of $180,900. The rent for a 2-bedroom apartment is only $1,100 on average. The city offers multiple recreational activities given its location near Klamath Lake and Crater Lake National Park. The downtown area is a hub for local businesses, events, and the Oregon Institute of Technology.
Dallas, OR
Dallas, home to 16,612 residents, is an affordable city that scores high on livability. With a median income of $58,398 and a median home value of $253,400, the city offers economic advantages. The average asking rent for a 2-bedroom apartment is $1,360. Located in the heart of Willamette Valley, Dallas residents enjoy a variety of outdoor activities while being only a short drive from Salem, the state capital. The city features a historic courthouse, an aquatic center, and the beautiful Central Bark Dog Park.
Forest Grove, OR
Forest Grove, with a population of 24,847, is a city that combines affordability with a range of amenities. It has a median income of $69,513 and a median home value of $346,400. The rent for a 2-bedroom apartment is an average of $1,340. Forest Grove is home to Pacific University and offers a rich, educational atmosphere. It is located near the Tualatin Valley, which is known for its wineries. Residents also enjoy the city’s numerous parks and its proximity to Portland.
Lebanon, OR
Lebanon, a city of 17,144 residents, offers a cost-effective and comfortable lifestyle. It has a median income of $45,215 and a median home value of $193,200. Despite the affordable 2-bedroom apartment rent of $1,505, Lebanon offers many attractions. The city has an abundance of parks and outdoor recreational facilities, including Waterloo County Park. Additionally, it’s located along Highway 20, allowing for easy navigation to and from the city. The city is also home to Western University of Health Sciences, contributing to a vibrant and intellectual community.
Methodology
The cheapest cities in each state were ranked based on its median home price and median asking rents for studio, one-, two-, and three-bedroom units. Prior to ranking, inputs were normalized, and weights were applied using a 1.25:1 ratio of asking rents to home prices. Data on home prices are from the U.S. Census 2016-2020 American Community Survey 5-year estimates. Data on asking rents are from Rent. Cities without data for one- or two-bedroom asking rents or a population of less than 10,000 were removed from this ranking. Any other missing values were zeroed and did not impact the final score.
I’ve been investing nearly 25 years, long before online brokers came on the scene. During that time I’ve used several of the best online discount brokers, including Scottrade, OptionsHouse, and even Vanguard’s brokerage services. Based on that experience and a lot of research, I’ve compiled this list of the top options.
Note that I have accounts at each of these firms and have personally tested their trading platforms, research, and other tools. Here’s a quick look at the top brokers.
Compare Discount Brokerage Accounts
Best Online Discount Brokers Firms of 2023
TD Ameritrade: Ideal for more experienced traders looking for a rich set of tools and resources.
E*TRADE: offers trading platforms and tools for any investment style
Ally Invest: Best for new investors and those looking for a very easy website to navigate.
Fidelity: Best for those looking for a robust broker with offices nationwide.
You Invest by J.P. Morgan: Best for free trades and cash bonuses
Over the years I’ve learned three important things about brokerage firms.
First, there are a lot of them. You’ve probably heard of many discount sites that allow you to trade stocks online, but I’m guessing there are a lot of online brokers you’ve never heard of (Sogotrade may be one example).
Second, while on the surface they can all seem similar, when you dig deep into what these brokers offer, you’ll find big differences. For example, not all of them offer the same account types. With some you can’t buy mutual funds, while others offer more mutual funds than most. And the stock trading tools available to you vary from one discount broker to the next.
And the third thing I’ve learned is that the cost of these discount firms can be tricky to understand, and in the end, may not be the most important factor. Because I watch every dime we spend, it may seem odd that cost isn’t the most important factor to me (after all, we are talking about “discount” sites, not full-service brokerage firms). The reality, however, is that unless you are an active trader, the cost of a few trades a year will be small.
Summary Of The Best Online Discount Brokers
TD Ameritrade
The now least expensive discount broker on our list, TD Ameritrade, offers some of the best online trading tools. Its platform “Trade Architect” is my favorite portal to use, specifically designed for casual investors like myself. If you’re looking for a more hardcore approach, they also have a thinkorswim platform that offers more data, more 3rd party research and more functionality.
Again, decided to cater to both casual and advanced investors by creating two separate mobile apps.
TD Ameritrade Mobile (for the casual investor)
Mobile Trader (for the advanced investor)
TD AmeritradeSummary:
Trade Stocks: $0 flat fee
Margin Rates: -0.75% to +1.25% of a base rate (base rate = 8.25% as of 11/12/2020)
Broker Assist Fee: $25.00
Mutual Funds (Load): $0
Mutual Funds (No Load): $49.99
Minimum Deposit: None
Sign up Bonus:N/A
For more information check out our TD Ameritrade review or visit TD Ameritrade.
E*TRADE
E*TRADE has been on a buying spree. Back in 2014 TradeMonster and OptionsHouse merged. Now E*TRADE has acquired the combined entity. E*TRADE offers trading platforms and tools for any investment style. It offers low costs even for infrequent traders, like myself. E*TRADE also offers E*TRADE Pro for active traders. And of course, it offers an excellent mobile experience.
E*TRADE Summary:
Trade Stocks: $0
Trade Options: $0 ($0.65 per contract or $0.50 per contract w/ 30+ trades per quarter)
Margin Rates: Ranges from 7.00% to 10.50% based on debit balance
Mutual Funds: $0 to $19.99 per trade
Read More: E*TRADE Review
Ally Invest
I’ve banked at Ally for years. Its website is one of the easiest to use among all banks, including online banks. Its fees are low to non-existent, and its banking rates are some of the best you’ll find on deposit accounts. So it was no surprise that Ally brought the same consumer-friendly approach to investing.
At Ally Invest stock and ETF trades are just a flat fee of $4.95. For you options traders out there, Ally charges just $0.65 per contract plus a $4.95 base. If you have a $100,000+ average daily balance and/or more than 30 trades per quarter the cost per stock or ETF trade drops to $3.95 and options contracts fall to $0.50 + $3.95 base. It’s hard to imagine a lower cost.
Ally also offers a Cash Enhanced Robo Portfolio. Like other robe-advisors such as Betterment, Ally Invest manages the portfolio, including dividend reinvestment and rebalancing. Ally charges 0% for the service. The minimum investment is just $100.
Capital One Investing
Formerly ShareBuilder, Capital One Investing offers a full range of trading services. In addition to online trading, it also offers managed portfolios. While its fees are generally reasonable, its managed portfolios require a $25,000 minimum investment and charge 0.90% of assets under management. Due to the fees, we don’t recommend Capital One Investing’smanaged portfolio.
Capital One Investing Summary:
Trade Stocks: $6.95 flat fee
Trade Options: $0.75 + $6.95 base
Margin Rates:5.20% to 8.20%
Mutual Funds: $0 or $19.95
Bonus: Up to $600 based on the amount of deposit
Merrill Edge
Merrill Edge is one of my favorite platforms. In addition to online DIY investing, they offer a managed portfolio. You can invest with an advisor, if you so choose. And the website is incredibly easy to use.
Managed portfolios require a $5,000 minimum and cost 0.45% of assets under management. While this fee isn’t the lowest, it’s reasonable for those looking for some extra help.
Trade Stocks: $6.95 flat fee
Trade Options: $0.75 + $6.95 base
Margin Rates:5.50% to 9.625%
Mutual Funds: $0 or $19.95
Bonus: Up to $600 based on amount of deposit
How Much Will You Pay To Buy And Sell Equities Online
All of the firms make a point to advertise how much you pay to buy or sell stocks, mutual funds, options, or other equities. Today most trades at discount sites run from about $2.50 to $12 per trade. The key to remember, however, is that many of these firms charge additional fees, depending on how you use your account. These additional fees may include fees for large buy or sell orders, fees to buy or sell stocks trading at less than $1, account maintenance fees, account inactivity fees, and of course interest if you buy on margin.
Because these fees vary among discount brokers, the starting point is to understand how you will use your stock trading account. Will you trade frequently or just once or twice a month (or quarter)? Do you want to set up an automatic investment plan? Will you be buying stocks and mutual funds, or do you also plan to trade options? The answers to these questions will help you narrow the selection and ultimately pick the best broker for you investing needs.
Factors To Consider Other Than Cost
But just like most anything we buy, the cost is just one of many factors to consider. And the same is true when selecting a discount broker. So what are the factors besides cost that we should consider when selecting a discount stock broker? There are several, and they include ease of use, customer service, types of accounts offered, investing tools, type of investments you intend to buy, and account minimums. I’ve highlighted these and other factors below in the summary of the best online discount brokers. But just like cost, it’s important to know your investing goals when you evaluate your options. For example, account minimums may be a non-issue for you if you plan to invest a significant amount of money. Likewise, if you are looking for a specific account time (like an IRA), you can quickly eliminate those discount stock brokers that do not offer that account type.
Discount Broker Consolidation
Several brokers have acquired other online trading platforms. Ally Invest was previously TradeKing, until the online bank purchased the broker in 2016. TD Ameritrade has entered into an agreement to purchase Scottrade. E*TRADE acquired OptionsHouse.
The flurry of acquisitions has left the industry in a state of flux. How smoothly will customer accounts transfer to their new home? How will the loss of competition in the space affect fees and features?
Time will tell. As the dust settles, we’ll continue to update this list.
Rob Berger is the founder of Dough Roller and the Dough Roller Money Podcast. A former securities law attorney and Forbes deputy editor, Rob is the author of the book Retire Before Mom and Dad. He educates independent investors on his YouTube channel and at RobBerger.com.
Maine, known for its picturesque landscapes and serene environment, is quickly becoming a hot spot for renters due to its affordability. As the Pine Tree State flourishes with opportunities, it provides affordable living for individuals from all walks of life. Rental prices vary greatly across the state, yet Maine sustains an appealing cost of living for many. Particularly, three cities have marked their places as the cheapest for renters; South Portland, Portland, and Yarmouth. These cities not only offer affordable rent but also present a high quality of living with their unique characteristics.
South Portland, ME
With a population of 25,665, South Portland is not just an affordable city but also a great place to live. The city offers a median income of $67,198 and a median home value of $276,100. Life in South Portland comes with more than just affordable living, it’s a city that thrives on its local community and stunning coastal views. You’re never far from a stunning view, with the city’s unique location on the coast of Maine. The city also has plenty of green spaces, including Mill Creek Park and Willard Beach, providing the perfect backdrop for a Maine lifestyle.
Portland, ME
As the most populous city in Maine with 66,706 residents, Portland offers a balance between an affordable cost of living and a vibrant city life. The city has a median income of $61,695, and a median home value of $302,700. Of note to renters, the asking price for a 2-bedroom is around $4,412. Portland’s Old Port district, with its cobblestone streets, 19th-century brick buildings, and fishing piers, is a hub of activity. Plus, there are numerous recreational areas in the city, including East End Beach and the Eastern Promenade.
Yarmouth, ME
Although smaller with a population of 5,752, Yarmouth is a charming town that offers an affordable lifestyle. Here, the median income stands at $69,576 with a median home value of $347,300. Renters can find a 2-bedroom place for an asking price of around $2,915. Yarmouth’s Main Street is a testament to its historical charm, while Royal River Park provides a great outdoor experience for residents. Yarmouth also hosts the famous annual Clam Festival, which offers a glimpse into the friendly community spirit of the town.
Methodology
The cheapest cities in each state were ranked based on its median home price and median asking rents for studio, one-, two-, and three-bedroom units. Prior to ranking, inputs were normalized, and weights were applied using a 1.25:1 ratio of asking rents to home prices. Data on home prices are from the U.S. Census 2016-2020 American Community Survey 5-year estimates. Data on asking rents are from Rent. Cities without data for one- or two-bedroom asking rents or a population of less than 10,000 were removed from this ranking. Any other missing values were zeroed and did not impact the final score.
Tennessee is a hidden gem in the Southeast United States, known for its vibrant music scene, delicious food, and beautiful landscapes. However, one often overlooked aspect is the affordability of living in the Volunteer State. Particularly for renters, there are various cities in Tennessee that offer low costs of living without compromising on quality of life. Seymour, Union City, Clinton, Crossville, and Kingsport exemplify this balance, offering affordable rents, along with access to amenities and facilities that make them attractive places to live. Now, let’s delve into what each of these cities has to offer.
Seymour, TN
Seymour, with a population of 15,444, is a peaceful and affordable place to live in Tennessee. Besides its relatively low median rent of $615 for a two-bedroom property, Seymour also boasts a substantial median income of $61,490. This makes it a great place to live and save money. The city is conveniently located between Knoxville and Sevierville, offering easy access to the attractions and amenities of both regions. The nearby Chapman Highway also provides fast and easy access to surrounding areas. Seymour’s residential appeal is further complemented by its local parks and amenities, making it an attractive and affordable place to live.
Union City, TN
Union City, despite its smaller population of 10,426, is another affordable location in Tennessee, with its median rent for a two-bedroom dwelling at $850. Here, you can enjoy a wide range of amenities and recreational activities. The city is home to Discovery Park of America, a world-class museum and park with exhibits spanning fields like history, science, art, and much more. In terms of transportation, Union City is served by State Routes 5, 22, and 216, making travel within and beyond the city convenient.
Clinton, TN
Clinton, with a population of 10,006, offers its residents reasonably priced housing with a median rental rate of $825 for a two-bedroom home. The city offers a rich history, with numerous historic sites and museums, such as the Museum of Appalachia and the Green McAdoo Cultural Center. Moreover, Clinton’s location near Andersonville Highway and Interstate 75 makes commuting and traveling an ease, further enhancing its appeal to renters looking for affordable accommodations.
Crossville, TN
Crossville is a modest-sized city of 11,704 residents, where a two-bedroom home typically rents for $820. Home to the Cumberland County Playhouse, one of the state’s largest professional theaters, and the stunning Cumberland Mountain State Park, there’s plenty of entertainment and outdoor activities for residents to enjoy. Accessible via Interstate 40 and U.S. Route 70, Crossville is a convenient and affordable location to call home.
Kingsport, TN
Kingsport, with a sizable population of 53,699, offers a median rent of $845 for a two-bedroom home. Known for its outdoor amenities, Kingsport is home to Bays Mountain Park and Planetarium providing hiking, biking trails, and wildlife viewing opportunities. Further, it is part of the Kingsport-Bristol metropolitan area, lending it big-city advantages while maintaining its small-town charm. Its location via Interstate 26 also makes for easy commutes, increasing its desirability as an affordable place to live.
Methodology
The cheapest cities in each state were ranked based on its median home price and median asking rents for studio, one-, two-, and three-bedroom units. Prior to ranking, inputs were normalized, and weights were applied using a 1.25:1 ratio of asking rents to home prices. Data on home prices are from the U.S. Census 2016-2020 American Community Survey 5-year estimates. Data on asking rents are from Rent. Cities without data for one- or two-bedroom asking rents or a population of less than 10,000 were removed from this ranking. Any other missing values were zeroed and did not impact the final score.
To the native Wintu people it was Bohem Puyuik, the “Big Rise,” and no wonder. Mt. Shasta towered above everything else, her loins delivering the natural springs and snowmelt that birthed a great river.
The Sacramento River provided such an abundance of food that the Wintu and many neighboring tribes — the Pit River, Yana, Nomlaki and others — had little to fight over. They thrived in pre-colonial times, on waters that ran silver with salmon, forests thick with game and oaks heavy with acorns.
But centuries of disease, virtual enslavement and murder wrought by European and American invaders scrambled the harmony that once reigned along the Upper Sacramento River.
Today, three tribes here are locked in a bloodless war. At issue is a proposal by one Indigenous group to expand and relocate its casino and whether the flashy new gambling hall, hotel and entertainment center would honor — or desecrate — the past.
The Redding Rancheria is pressing to replace its current Win-River Resort & Casino with a nine-story casino complex with more than double the number of slot machines and more than triple the hotel rooms.
(Carolyn Cole / Los Angeles Times)
The casino envisioned by the Redding Rancheria and its 422 members would rise nine stories on 232 acresalong Interstate 5. The rancheria — home to descendants from three historic tribes — began planning the development nearly two decades ago, envisioning a regional magnet for tourists and gamblers.
But the proposal has been buffeted by influential opponents, including the city of Redding, neighborhood groups and the billionaire next door — who happens to be the largest private landowner in America. The naysayers list a cavalcade of complaints against the new Win-River casino complex, saying it would despoil prime farmland, exacerbate traffic, increase police and fire protection costs and threaten native fish in the Sacramento River.
Those complaints have helped stall, but not kill, the project, whose fate rests almost solely in the hands of the Bureau of Indian Affairs in Washington, D.C. And now the BIA’s obscure bureaucrats have been confronted with an explosive new charge from two neighboring tribes: that construction of the casino would desecrate what the tribes say should be hallowed ground — the site of an 1846 rampage by the U.S. Cavalry that historians say probably killed hundreds of Native people.
The Sacramento River massacre has not received the attention of other atrocities of America’s westward expansion, such as the one in 1890 at Wounded Knee, S.D., where U.S. troops killed as many as 300 Lakota people. Estimates of the carnage, recorded over the decades from witness accounts and oral tradition, range from 150 to 1,000 men, women and children slaughtered along the banks of the Sacramento River.
If the higher estimates of the death toll are correct, it would rank as one of the largest single mass killings of Indigenous people in American history.
Gary Rickard, chair of the Northern Wintu tribe, contends the Redding Rancheria’s proposed new casino would desecrate the site of a 19th century massacre of native people.
(Carolyn Cole / Los Angeles Times)
“In my heart, I find it hard to believe that there are Wintu people that are willing to build a casino on … the blood-soaked dirt of the massacre site,” Gary Rickard, chair of the Wintu Tribe of Northern California, told a state Assembly committee in August. “There are dozens of other places along the I-5 corridor and the Sacramento River.”
Redding Rancheria Chair Jack Potter Jr., himself part Wintu, called the claim that his tribe would build its casino on the massacre grounds “a slander that will not be easily forgotten.” He told state lawmakers that the real massacre site is miles away. Rancheria leaders said their opponents have manufactured the controversy for a less honorable reason: to block what would be a sparkling new competitor.
“Gaming in Indian country can be a tide that raises all of our canoes,” insisted Potter, who appeared at times to fight back tears as he spoke at the Sacramento hearing. “We should not battle against one another, in that spirit.”
Column One
A showcase for compelling storytelling from the Los Angeles Times.
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Friendships that go back decades and tribal ties of a century or more have been imperiled by the casino furor. Native people normally aligned against a hostile or indifferent U.S. government — “We’re all the children of genocide,” as one elder put it — have watched sadly as their conflicts turn inward.
It’s a dynamic that has played out before. Robbed of their ancestral lands, tribes now sometimes fight when one tries to claim new territory, often as a base for a lucrative modern endeavor: gambling.
The friction is exacerbated by the peculiar history of the Redding Rancheria — and by opponents’ eleventh-hour invocation of the Sacramento River massacre, 19 years after the rancheria began to assemble parcels for the project.
The casino envisioned by the Redding Rancheria would rise nine stories on 232 acresalong Interstate 5 near the Sacramento River.
(Carolyn Cole / Los Angeles Times)
The Redding Rancheria refers to a nearly 31-acre stretch of land near the south end of Redding that the federal government bought in 1922 for “homeless Indians” who came to the area as seasonal workers for ranches and orchards. The rancheria sits in a relatively obscure location compared with the interstate-adjacent site of the proposed casino, more than three miles by car to the northeast.
In 1939, the Wintu, Pit River, Yana and other Indigenous peoples formed a rancheria government. It was recognized by the United States. But in 1958, an act of Congress “terminated” recognition of multiple California groups, including the Redding Rancheria, in an attempt to force Indians to disperse into the general population. It took a landmark 1983 court settlement to formally restore recognition of 17 rancherias, including the one in Redding.
The result is that there are Redding Rancheria members with Wintu blood, like Potter, 52, who firmly support the casino, while other Wintu descendants who are not descended from the original rancheria families, like Rickard, 78, adamantly oppose it. Rickard grew up with Jack Potter Sr. and has known his son since he was a boy.
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Cordiality prevails, at least outwardly, when Rickard and Potter meet today. But the bad blood between their groups has become fierce, exacerbated by the yawning wealth disparity between the rancheria and the Northern Wintu.
Rancheria members have thrived largely because of the success of their existing Win-River Resort & Casino, which operates 550 slot machines, a dozen table games, an 84-room hotel and an RV park.
Along with its existing Win-River Resort & Casino, the Redding Rancheria runs a Hilton Garden Inn and a marijuana dispensary in Shasta County.
(Carolyn Cole / Los Angeles Times)
The complex is the biggest income producer for the rancheria, which also owns a Hilton Garden Inn and a marijuana dispensary in Shasta County. Sources familiar with the tribe said each enrolled member receives a monthly “per capita” payment of at least $4,000 and perhaps as high as $6,000.
The rancheria’s chief executive, Pitt River descendant Tracy Edwards, 54, declined to discuss the amount of the payments.
That income, along with health clinics and other benefits, makes the Redding Rancheria members the envy of Indigenous groups with comparatively paltry assets. Rickard’s Northern Wintu claims roughly 560 certified members, but like many groups across America, the tribe has been laboring for years and still has not received formal recognition from the U.S. government. That means the tribe can’t put land into trust, a prerequisite to casino development and also a shield against federal, state and local taxes.
“We don’t have the resources in order to obtain the things we need,” said Shawna Garcia, the Northern Wintu’s cultural resources administrator. “We don’t have the revenue to assist our members with things like college, housing and other assistance.”
Historians and ethnographers say the Wintu were the predominant tribe around the site proposed for the casino complex, an expanse of meadow and scrubland that locals dub the Strawberry Fields because of its agricultural history. And Rickard questioned why the “pure-blood Wintu people” he represents have been left to struggle, while the rancheria — representing an amalgamation of tribal groups — stands poised to create an even bigger cash cow with its new casino.
Some area residents are wary of plans for a new and bigger Win-River casino complex in Shasta County, concerned it would despoil farmland and threaten native fish.
(Carolyn Cole / Los Angeles Times)
Before the arrival of European and American settlers, the Sacramento River provided such an abundance of food that the Wintu and many neighboring tribes had little to fight over.
(Carolyn Cole / Los Angeles Times)
Rancheria leaders like Edwards, a UC Davis-trained lawyer, have emphasized how the tribal group has supported Native and non-Native people, both as one of the largest employers in Shasta County and through its charitable foundation.
In just one year, 2018, the rancheria said it gave more than $1.2 million to community organizations, helping serve the homeless and victims of the Carr fire. During the early phase of the COVID-19 pandemic, the rancheria donated $5,000 each to 60 businesses struggling to stay afloat.
At a cost of $150 million, the rancheria’s new casino would feature 1,200 slot machines — more than double the number at its current casino — and with 250 rooms, the new casino hotel would be more than triple the size of the existing hotel. The tribal group has pledged to close its current Win-River casino when the new one opens.
The rancheria’s outsized community presence has created substantial goodwill around Redding, but a portion of residents have stepped forward — via petitions and ballot measures — to express disdain for large developments they feel could harm the rural character of their community.
Among the more powerful opponents is Archie Aldis “Red” Emmerson, president of logging giant Sierra Pacific Industries, whose sprawling estate looms along the Sacramento River, just south of the casino site.
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In 2020, an Emmerson-allied company purchased property from the city of Redding that included a portion of a road that would be the north entry to the casino site and created an easement that would have barred access to the rancheria land for all but agricultural purposes. The easement effectively would have thwarted the casino by blocking vehicle access to the development.
But in 2022, a Shasta County Superior Court judge voided the deal, saying that in selling the land (for just $3,000 to the billionaire) the city had violated its “own processes, procedures and the relevant law.” The ruling nullified the easement, preserving the rancheria’s unrestricted access to the property.
Todd Giles lives close to the Redding Rancheria’s proposed new casino complex. He worries about the effects on traffic and crime.
(Carolyn Cole / Los Angeles Times)
The Redding City Council and neighboring homeowners have maintained their opposition to the project for years, while a new conservative majority on the Shasta County Board of Supervisors recently reversed the county’s earlier objections. The supervisors supported the casino, despite admonitions from the sheriff, fire chief and county counsel that the agreement with the rancheria did not provide sufficient compensation to cover the increased costs of serving the big development.
The rancheria agreed to make one-time payments totaling $3.6 million to support Shasta County, the Sheriff’s Department and fire and emergency services. That initial infusion would be supplemented by recurring payments: $1,000 for each police service call and $10,000 for each fire/emergency service call.
No issue has unsettled intra-tribal relations, though, like the debate flowing out of the terrible events along the Sacramento River 177 years ago.
Oral histories of the Wintu and neighboring tribes recall how Native families and elders had gathered along the river known as the Big Water each year in early April for the spring salmon run. Traditionally, the season signaled rebirth.
But Capt. John C. Fremont had other ideas.
Fremont diverted his men from their ordered assignment: completing land surveys in the Rocky Mountains. The Americans instead went adventuring to California, where, in the spring of 1846, they responded to sketchy claims from settlers that they were endangered.
About 70 buckskin-clad white men set upon the Native people, the locals far outgunned by the invaders, each toting a Hawken rifle, two pistols and a butcher knife, according to UCLA historian Benjamin Madley‘s detailed account of the massacre.
The horsemen completed their grisly work with such evident pride that legendary frontiersman Kit Carson later bragged that the coordinated assault had been “a perfect butchery.”
The feud over a proposed new casino has sparked debate over precisely where the 1846 Sacramento River massacre occurred. Two area tribes contend this meadow was a key location in the atrocity.
(Carolyn Cole / Los Angeles Times)
The massacre marked the beginning of “a transitional period between the Hispanic tradition of assimilating and exploiting Indigenous peoples and the Anglo-American pattern of killing or removing them,” according to Madley’s “An American Genocide: The United States and the California Indian Catastrophe.”
Fremont (later a U.S. senator from California and a Republican presidential candidate) would say that his party attacked the natives because of reports of an “imminent attack” upon settlers. But the “battle” was one-sided, with the federal troops suffering no known casualties. Afterward, according to Madley’s account, Fremont’s men feasted on the Native people’s larder of fresh salmon.
In the nearly two centuries since, the tragedy would be more forgotten than remembered. There is no historical marker around Redding noting the event.
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The Wintu people believed to have been the principal victims have preserved memories of the mass killing in their oral history. But no ceremony marks the atrocity. And at the Wintu cultural resource center in Shasta Lake City, a wall-size timeline of the group’s history makes no mention of the 1846 bloodshed.
There’s also the now-pressing question — pushed to the fore by the casino feud — about precisely where the massacre occurred. The Northern Wintu and another outspoken opponent, the Paskenta Band of Nomlaki Indians, insist that the Strawberry Fields property was a key location in the atrocity.
Proceeds from its existing Win-River Resort & Casino have allowed the Redding Rancheria to offer tribal members a healthy monthly stipend, as well as healthcare clinics and other benefits.
(Carolyn Cole / Los Angeles Times)
The Paskenta commissioned a study by a retired anthropologist from Cal State Sacramento that drew on research from the late 1800s by a linguist from the Smithsonian Institution who, in turn, got much of his information from a Wintu elder who survived the massacre. The report, by Dorothea Theodoratus and a colleague, said that the “center” of the massacre was “opposite the mouth of Clear Creek” in the Sacramento River, a point roughly two miles south of the proposed casino location.
But other accounts from participants and witnesses said Fremont’s soldiers chased down victims after the initial assault, leaving the exact range of the bloodshed unknown. The Theodoratus report says that six villages, including two on the proposed casino property, were so thoroughly intermingled that all “would have had some direct involvement with that massacre.”
Andrew Alejandre, chair of the Paskenta Band, told the Assembly Governmental Organization Committee in August that his tribe is seeking to have the state and federal governments designate the Strawberry Fields a sacred site, off-limits to development. Alejandre, 35, said his tribe vehemently opposes building a casino “on top of men, women, children and elders. The spirit of these ancestors … Let them rest!”
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In rebuttal, Potter and rancheria CEO Edwards note that during the many years that they and others have pursued developments in the region, the rival tribes never mentioned the massacre. Divisive fights over a proposed auto mall and a sports complex (both scrapped) came and went without any discussion about desecration of a mass grave site.
“I would never disrespect the remains of my ancestors,” Potter said.
Fifty miles south of Redding in rural Corning, the 288-member Paskenta Band opened the Rolling Hills Casino and Resort two decades ago. The luxe gaming hall is just one part of an economic surge by the tribe, which has also opened an equestrian complex, an 18–hole golf course, a 1,400-acre gun and hunting center and a 3,000-person amphitheater, where Snoop Dogg performed in May.
The Paskenta Band of Nomlaki Indians operates the Rolling Hills Casino and Resort in Corning, along with an equestrian complex, amphitheater, golf course and hunting center.
(Carolyn Cole / Los Angeles Times)
Potter charged that the fight over the historic massacre is really a ploy by the flourishing Paskenta to squelch the Redding Rancheria’s hopes for a shimmering destination casino “because of the mistaken belief that it … will cut into the profits of their gaming facilities.”
Paskenta’s Alejandre, a designer who once ran a clothing company, denied that is the case.
While representatives for the Paskenta and Northern Wintu tribes bashed the casino proposal at the August hearing, representatives of at least eightother California tribes argued in support of the Redding Rancheria. One said the Redding group had proved itself a good steward of cultural resources.
Another speaker at the hearing was Miranda Edwards, the 28-year-old daughter of the rancheria CEO. The Stanford-educated Edwards and her mother spoke about the importance of moving the tribal group forward for the “Seventh Generation,” future descendants whose livelihoods must be planned for today.
“We work hard every day to provide for this rural community and make it the best that we can for everyone that lives there,” Miranda Edwards told legislators. “It’s disheartening to hear from those that choose not to see that. But it will not stop our work.”
Redding Rancheria CEO Tracy Edwards, left, and her daughter, Miranda, say the tribal group’s proposed new casino is part of a larger effort to look out for the livelihoods of future descendants.
(Carolyn Cole / Los Angeles Times)
Potter, the rancheria’s chairman, had a sardonic take on the dispute.
“We always talk about crabs in a pot,” Potter said. “We are like all these crabs, stuck in a pot. When one tries to get out of the pot, all the others reach up and pull him back in.”
Will arguments about the Sacramento River massacre sway the final outcome of the Redding Rancheria’s casino quest? A BIA spokesman said only that “these issues are under review.” Nearly two centuries after representatives of the U.S. military decimated a civilization here, the federal government still retains ultimate authority over the fate of Native people.
Watch L.A. Times Today at 7 p.m. on Spectrum News 1 on Channel 1 or live stream on the Spectrum News App. Palos Verdes Peninsula and Orange County viewers can watch on Cox Systems on channel 99.
Real estate finished November as the second best performing group in the S&P 500 Index adding 12%, trailing slightly behind tech’s 13% gain. The momentum was fueled by bets the central bank may begin cutting rates as early as next year.
RELATED: Mortgage rates will decline further, economic signs indicate
In November, the interest-rate sensitive sector was a market outperformer as investors poured capital into the group. A pullback in Treasury yields has also supported trader optimism that the worst of it could be over. Additionally, U.S. real estate investment trusts, which have been beaten-down by surging interest rates and economic uncertainty, are now flashing signs of strength.
The group rallied 12% in November versus the S&P 500’s 9% gain, notching its best month since 2011. Bank of America said it’s overweight the real estate sector ahead of 2024, with Jeffrey Spector calling the REIT sector equity’s “diamond in the rough.” He listed American Homes 4 Rent, Americold Realty Trust, Empire State Realty Trust, Kimco Realty Corp., Prologis Inc. and Welltower Inc. as his top picks in a note to clients Friday.
Battered office landlord stocks have placed a overcast on the REIT sector as a whole, though office only represents a sliver of the group. Investors have been fleeing the office sector as fears of remote work and elevated borrowing costs destabilize the sector.
“Real estate has seen the biggest de-rating since 2021 among all industries on concerns over office, but office is less than 5% of real estate’s market cap,” he said.
While Bank of America remains cautious on the market entering 2024, it still sees real estate as underappreciated.
For homebuilding stocks, the bulk of the monthly advance was made during the first three sessions of November after the Federal Reserve announced it would hold its benchmark rate steady for a second meeting. The index posted three back-to-back gains of more than 4%, ultimately sending the index to post its biggest monthly gain since 2020.
The recent pullback in mortgage rates is likely to further support the sector’s gains, enabling builders to buy down rates to 5.5%, a level that has previously helped demand, Bloomberg Intelligence analyst Drew Reading said.
“This would actually make new home payments more favorable versus resales heading into the spring selling season, so the timing is great for the group,” he noted.
Although builder confidence has been on the decline, Capital Economics U.S. Property Economist Thomas Ryan says the sentiment is a misrepresentation of where larger public builders actually stand, as the gauge is largely comprised of smaller private builders.
As such, the typical strong correlation between NAHB homebuilder confidence and housing starts has broken down recently, he said. That divergence was underscored in November after the confidence gauge fell to its lowest level this year, despite housing starts unexpectedly rising to the highest in three months.
“While smaller homebuilders are finding it increasingly difficult to access the credit required to maintain construction activity, their giant competitors are in an extremely strong financial position,” Ryan wrote.
The real estate sector still lags behind the broader market year-to-date, but according to Bank of America, the group may be a bright spot heading into 2024.
Pennsylvania, the Keystone State, offers a range of diverse living experiences from bustling urban centers like Philadelphia and Pittsburgh to serene rural boroughs. Amidst this diversity, cost of living is a key factor for many looking to relocate within the state. For renters, some cities in Pennsylvania stand out as particularly economical options. Our analysis identified five cities – Johnstown, Indiana, Pottsville, McKeesport, and Butler – as the most affordable places to live for renters. Each of these cities offers the charm and amenities of Pennsylvania living, while being friendly on the pocket too.
Johnstown, PA
Johnstown, home to close to 20,000 residents, shines as one of the most affordable cities in Pennsylvania. With a median income of $29,171 and a median rent for a two-bedroom apartment at just $685, Johnstown is a great option for renters. Despite the modest cost of living, the city doesn’t lack for attractions. It’s home to the Johnstown Flood National Memorial, the Johnstown Inclined Plane – the world’s steepest – and the Grandview Cemetery. The city’s rich industrial heritage and resilient spirit offer a unique living experience.
Indiana, PA
Indiana, Pennsylvania, offers a compact small-town charm with a population just above 13,000. Notwithstanding the median income of $30,934, the living expenses here are quite low with a two-bedroom rental asking price of $601. Indiana is home to the Jimmy Stewart Museum, dedicated to the legendary actor and native son. Access to education is easily available with the Indiana University of Pennsylvania in town. With many parks and recreational spots like Blue Spruce Park and Yellow Creek State Park nearby, Indiana provides a balanced and affordable living experience.
Pottsville, PA
Pottsville, with a population of over 13,000, boasts a remarkably reasonable median two-bedroom rent of $412. The city, with a median income of $39,154, offers a high quality yet economical lifestyle. Home to the historic Yuengling brewery, the oldest in America, Pottsville is rich in culture and history. Beautiful local parks like Rotary Park and JFK Memorial Pool and recreation areas offer ample opportunities for outdoor activities.
McKeesport, PA
In terms of affordability, McKeesport stands out, especially with a modest median home value of $51,200. Renters will find it good value for money with a median rent of $903 for a two-bedroom home. McKeesport’s population of 19,128 benefit from the city’s great location at the confluence of the Monongahela and Youghiogheny rivers. The city’s Renziehausen Park Rose Garden is a local treasure, and the Great Allegheny Passage trail offers a great opportunity for biking and hiking.
Butler, PA
Despite being the smallest city on the list with a population of 13,008, Butler packs in an impressive punch when it comes to affordability. With a median income of $32,746 and a median rent of $785 for a two-bedroom home, it makes for a great place to live for renters. Butler is known for its historic landmarks like the Butler County Courthouse and is just a short drive from Moraine State Park, offering lots of outdoor activity options.
Methodology
The cheapest cities in each state were ranked based on its median home price and median asking rents for studio, one-, two-, and three-bedroom units. Prior to ranking, inputs were normalized, and weights were applied using a 1.25:1 ratio of asking rents to home prices. Data on home prices are from the U.S. Census 2016-2020 American Community Survey 5-year estimates. Data on asking rents are from Rent. Cities without data for one- or two-bedroom asking rents or a population of less than 10,000 were removed from this ranking. Any other missing values were zeroed and did not impact the final score.
Today’s mortgage rates are high but they could be worth locking in compared to the potential higher ones to come.
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While a cut to interest rates is still off in the distance, borrowers this week received the second-best news they could wish for: Rates aren’t going to be increased again. At least not for November. While the benchmark interest rate range remains at a 22-year high of 5.25% to 5.50%, it will stay there at least until the final Federal Reserve meeting of 2023.
And though that rate remains high, even a pause can help borrowers now (and it can motivate savers to take advantage while rates are elevated). A pause, in particular, can be helpful for homebuyers who have been looking to purchase a new home. Even though mortgage rates today hover around 8%, it can still be a good time to lock in a rate, particularly if the prospect of a rate cut looks far off. In fact, there are multiple reasons why buyers may want to lock in a mortgage rate now while interest rates are paused.
Start by exploring your mortgage rate options here to see what you can qualify for.
Why homebuyers should lock in a mortgage rate with interest rates paused
Here are three compelling reasons why those looking to buy a new home should lock in a rate this month.
There’s (slightly) more time to shop around
When interest rates increase, there’s very little time between the Fed’s actions and the corresponding bump in mortgage rates offered by banks and lending institutions. But after the Fed kept rates paused this week — and the next Fed meeting scheduled for December 12 and December 13 — borrowers have a little more breathing room to shop around to find the best rates and terms without the added pressure.
They won’t have an infinite amount of time, though, particularly if rates are increased in that final 2023 meeting. But they can lock one in now and still have the time to shop around for something better, which normally wouldn’t be the case following yet another rate hike.
Start exploring your mortgage rate options here today and see what you can find.
Rates will likely be lower
While not certain, the mortgage rates qualified borrowers can obtain now will likely be lower than what they can get if they wait for the Fed to make another rate hike. So, sure, 8% isn’t considered a bargain now, particularly when compared to the sub-3% mortgage rates one could have secured in 2020 or 2021. But 8% is still likely to be lower than what you may encounter if you take a wait-and-see approach.
Plus, by waiting, you could risk losing your dream home. After all, there’s a reason why many experts recommend you “date the rate and marry the home.” You can always refinance to a lower rate in the future, but the home of your dreams, in the location you want to live in, may not always be available.
You can explore your alternatives
Even with mortgage rates higher than they’ve been in decades, there are still ways borrowers can secure a below-average rate. A pause in rate hikes gives you more time to explore these methods. This includes shopping around (as mentioned above) but it also means getting rates for adjustable-rate mortgages (which can increase over time but may be lower than the median rate available now).
There’s also the potential to buy mortgage points, in which you pay a fee to the lender to get a lower rate now (think 8% without points and 7.50% to 7.75% with them). Or you could even see if the home you’re interested in buying comes with an assumable mortgage. While rare in today’s market, this option could save you significant sums of money if the current, assumable mortgage is pegged to a lower mortgage rate than you would have otherwise been eligible for.
Learn more about your mortgage rate options here.
The bottom line
Mortgage rates are high, no question. But timing here is crucial and there may be no better time, at least for the foreseeable future, than now to lock in a rate. This brief respite will give buyers some additional time to shop around but it will also, potentially, allow them to secure the lowest rate they can get until the economy fully recovers from inflation. Borrowers will also now have time to explore some other, lesser-known ways to obtain a below-average rate such as with an adjustable-rate mortgage, by buying mortgage points or by taking over an assumable mortgage.
While the options (and the rates) may not be as favorable as they were just a few short years ago, any edge in the wider rate environment can help now. So don’t dismiss the benefit of locking in a rate today. Get started here today!
Lower mortgage rates have brought increased mortgage demand. Total home loan applications increased 0.3% for the week ending Nov. 24 compared to the previous week, according to data from the Mortgage Bankers Association (MBA).
Mortgage rates for the 30-year fixed loan averaged 7.29% as of Nov. 22, falling 15 basis points in one week, according to Freddie Mac‘s Primary Mortgage Market Survey. Over the past six weeks, mortgage rates have fallen by more than 50 basis points.
“The purchase market remains depressed because of the ongoing, low supply of existing homes on the market,” Joel Kan, MBA’s vice president and deputy chief economist, said in a statement. “Similarly, refinance activity will likely be muted for some time, even with the recent decline in rates, as many borrowers locked in much lower rates in 2020 and 2021.”
The decline in mortgage rates spurred a small increase in purchase applications last week; they ticked up 5% on a seasonally adjusted basis from the prior week. However, activity was 20% lower than a year ago on an unadjusted basis. Meanwhile, refinance activity slumped, decreasing 9% from the previous week. However, it was 1% higher than the same week a year ago. The refinance share of mortgage activity fell to 30.6% of total applications, down from 32.4% the previous week.
The adjustable-rate mortgage (ARM) share of activity decreased to 8.1% of total applications.
The share of Federal Housing Administration (FHA) loan activity decreased to 13.5%, down from 14.8% the week prior. The share of Department of Veterans Affairs (VA) loan activity was 12.6%, down from 11.3% over the previous week, while the share of U.S. Department of Agriculture (USDA) loan activity rose to 0.5%, up from 0.4% last week.
On Tuesday, the FHFA announced that its new baseline conforming loan limit for mortgages backed by Fannie Mae and Freddie Mac in 2024 will be $766,550, up 5.5% compared to the current limit of $726,200.