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Rent? Buy? New data shows the market’s weird for all of us. · Apple News Today

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  Shumita Basu, Narrating: Good morning! It's Thursday, April 20th. I'm Shumita Basu. This is "Apple News Today." On today's show, how an unusual Senate fight is having an impact on the federal courts, a look at how and why the housing market is so strange right now for renters and buyers alike, and Netflix shuts down the part of its business that first put it on the map.
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  But first, let's take a quick look at some major stories in motion this morning. At least two people are dead in Oklahoma. A series of tornadoes hit the state and did damage in Kansas and Iowa. Forecasters also put residents in Nebraska and Missouri on alert for more tornadoes.
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  In Yemen, dozens of people are dead after a crowd crush in the capital. People were there for an event distributing aid to the needy. An investigation is underway into how the situation turned deadly.
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  Back in the States, Florida's Board of Education is now blocking middle and high school teachers from intentionally teaching about sexual orientation or gender identity in many cases. The new rule is a step further than a law that critics call "Don't Say Gay." It prevents instruction on these topics in grades K through 3.
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  And a high-stakes Supreme Court decision on abortion pills was supposed to come yesterday but was extended through the end of the day tomorrow. Earlier this month, a Trump-appointed federal judge limited access to the pill mifepristone. But the limits have been on hold while legal battles proceed. This week, the Supreme Court could decide to keep current access to abortion pills in place or it could allow the restrictions to go into effect.
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  The court fight over abortion pills is a reminder of just how much power federal judges can hold. They're nominated by presidents. But right now, President Biden's ability to fill the federal bench is limited because of an unusual situation in the Senate.
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  Eighty-nine-year-old California Democratic Senator Dianne Feinstein has been absent from Capitol Hill for weeks. She's been out sick with shingles, and that matters for a lot of reasons in a Senate where Democrats have a narrow majority. As far as judges, it matters because she's on the Judiciary Committee, and if she's not present to serve on it, Democrats don't have the votes to move Biden's court nominees to confirmation. Democrats want to temporarily replace Feinstein on the Committee, but that requires Republicans to sign off. And the GOP is not playing along. Senate Minority Leader Mitch McConnell explained why.
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  Mitch McConnell: So let's be clear. Senate Republicans will not take part in sidelining a temporary absent colleague off a committee just so Democrats can force through their very worst nominees.
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  The issue around confirming judges is putting more pressure on Feinstein. She has faced calls to resign over the years, including from inside her party. Critics question whether she's still able to effectively serve because of her health and her age. But many high-profile Democrats are defending her, saying any retirement decision is hers to make, and she shouldn't be pushed out.
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  This is tricky territory, where ageism and sexism are in the conversation, sometimes openly, but always in the background. Many of Feinstein's defenders say there's a double standard, that aging male politicians haven't faced the same questions about their health and competence that Feinstein has. As far as what could be next, Senate Majority Leader Chuck Schumer says he spoke to Feinstein recently, and they're both hopeful that she'll be back "very soon."
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  We're getting a lot of fresh data this week on housing, so let's check in on the unusual real estate market we're living in and talk about how the fates of buyers and renters are more connected than you might think. The latest numbers show a healthy boost in building of single-family homes but a slowdown in apartment building construction. And recent inflation numbers show housing costs were far and away the biggest driver of cost-of-living increases. A jump in the "shelter" category of expenses blew away a recent drop in energy costs.
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  People sometimes think of the rental and sales markets as two completely unrelated things. But they're closely linked, part of a chain that connects the Fed and interest rates and housing and inflation. The Fed's rate hikes have helped drive up mortgage rates, which makes buying a home more expensive. Lawrence Yun, Chief Economist at the National Association of Realtors, told "Yahoo Finance" about the impact that has on the rental market.
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  Lawrence Yun: People who want to purchase a home, they can no longer purchase, so now they are becoming renters. So I think that we have several additional months of further rise in rents.
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  Rents rise over time, and families can handle that if their pay goes up accordingly. And wages are rising but not enough to keep up.
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  Lawrence Yun: All that is being wiped away by rising rents and rising consumer price inflation. Now, that is a very difficult challenge because it means that people, Gen Z particularly, they are unable to save up for a down payment, which is required to be a successful homeowner. So that is putting a great burden, so the solution to it all is more supply.
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  Okay, you might expect a guy who works for the National Association of Realtors to say that, but the new data we mentioned backs it up. And many economists agree: There's not enough housing on the market to meet demand. And that's leading to higher prices for everyone, whether they rent or buy. So it's important to remember how housing is a key component of rising inflation, even though the cost of gas and groceries tends to get the most attention.
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  Okay, I'm gonna say something that's really gonna date me. I remember the glory days of getting a bright red Netflix envelope in the mail, ripping it open, getting to watch "Bend It Like Beckham" as many times as I wanted, no late fees, and popping it back in the mail to keep moving through my movie list. It felt revolutionary. Of course, so much has changed about the world and about Netflix, which most people think of as a streaming platform. Well, get this: Netflix has kept its DVD-by-mail service going this whole time. And now, finally, after 25 years, it is officially mailing its last red envelope later this year.
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  "The Wall Street Journal" has this write-up, which reads kind of like an obituary for Netflix's mail service. Just seeing the red envelopes will get you nostalgic. And revisiting the old TV ads…
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  Netflix Promoter: Go to Netflix.com, make a list of the movies you want to see, and in about one business day, you'll get three DVDs. Keep them as long as you want without late fees. Then when you're done…
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  Netflix says, over the years, it had 40 million subscribers to its DVD-by-mail service. It's shipped more than 5.2 billion discs in total. The very last one will ship on September 29th.
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  You can find all these stories and more in the Apple News app. And if you're already listening to us in the News app right now, stick around. On this day, 4/20, we have picked out a narrated article that'll get you thinking about the munchies. "The New Yorker" got inside Taco Bell's test kitchen, the place where stunt foods are born, where they tackle tough questions like, "How can we make a Cheez-It big enough to be a tostada?" So sit back, enjoy that, and I'll be back with the news tomorrow.
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