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This Week's Most Exciting Crypto News: UK Announces NFT and More
This Week's Most Exciting Crypto News: UK Announces NFT and More
This week brought some exciting developments in the world of cryptocurrency and NFTs. Our lead story is the UK's push to become a center for crypto asset investment and technology. We'll also dive into a south Florida case where US authorities confiscated $34 million in cryptocurrency and Robinhood's new cryptocurrency wallet. Lastly, we'll discuss Tom Brady's NFT sales, a collection of NFT stick figures going for wild sums of money and what happened to the first mainstream video game to integrate NFTs as in-game items.
Welcome Nonfungible Tidbits, CNET's weekly roundup of news in crypto, bitcoin, NFTs and their related realms. Read on to find out about the six stories you may have missed this week, and stay tuned for more next week.
UK announces NFT to promote national crypto initiative
The U.K. wants to be "a global hub for cryptoasset technology and investment."
HM Treasury
The British government announced plans on Monday to make the UK a global hub for investment and tech in crypto assets. The UK is looking to make stablecoins a valid form of payment, and the Royal Mint will issue an NFT to promote Britain's crypto push. "The measures we've outlined today will help to ensure firms can invest, innovate and scale up in this country," UK finance minister Rishi Sunak said in the announcement. This comes just weeks after the country's financial regulator declared all bitcoin ATMs in the UK illegal and ordered them to shut down. The country's advertising authority has also been cracking down on crypto ads in the country for failing to highlight risks associated with cryptocurrency investing.
Read CNET's full story on the UK's NFT and crypto plans here.
US Authorities Seize $34M in Crypto in South Florida Case
Angela Lang/CNET
US authorities confiscated 34 million worth of cryptocurrency that was allegedly made from selling illicit items and stolen accounts from online services, including HBO, Netflix and Uber, on the dark web, the Justice Department said Monday. The DOJ says this is one of the largest cryptocurrency forfeiture actions the US has ever filed. The announcement didn't specify the identity of the south Florida resident the cryptocurrency was confiscated from or if the DOJ was pursuing further legal action.
Read CNET's full story on the cryptocurrency confiscation here.
Robinhood rolls out cryptocurrency wallet for people on waiting list
Getty
Robinhood's cryptocurrency wallet is now available for eligible users who previously signed up for the waiting list. The wallet's release was announced by Robinhood CPO Aparna Chennapragada on Thursday at the Bitcoin conference in Miami. The Robinhood crypto wallet allows transferring cryptocurrency into external wallets with daily withdrawals capped at $2,999 total and 10 transactions. However, residents in Hawaii, New York and Nevada are not eligible to sign up, due to state regulations. Robinhood has been a subject of controversy since the company's role in the GameStop stock saga.
Read CNET's full story on Robinhood releasing the cryptocurrency wallets here.
ESPN, Tom Brady sell NFTs to promote documentary series
Jordon Kelly/Icon Sportswire via Getty Images
An NFT collection from ESPN and Tom Brady was released Wednesday in concert with the Tom Brady documentary series 'Man in the Arena: Tom Brady' arriving on Hulu and Disney Plus. The NFTs feature ESPN magazine covers of Brady, range from $100 to $500 and have already sold out. Brady, along with his wife, Gisele Bündchen, previously took an equity stake in the cryptocurrency exchange FTX and released a commercial for the crypto company.
Read CNET's full story on the NFTs from ESPN and Tom Brady here.
NFT stick figures are selling for thousands of dollars
OpenSea
Over $100 million in cryptocurrency has been spent on 'mfers,' an NFT collection featuring drawings of stick figures in front of color backgrounds. Recently, the least expensive NFT in the collection was 3.97 ether, or around $14,000, and the collection's simple art is very much on purpose. "Underlying mfers' meme art is, hilariously, an argument about intellectual property," says CNET Senior Writer Daniel Van Boom.
Read CNET's full story on why mfers are selling and what's driving the prices here.
First mainstream video game to use in-game NFTs will end new content
Ubisoft
Ubisoft became the first big video game developer to integrate NFTs into mainstream video games when the company introduced 'digits' in Ghost Recon Breakpoint earlier this year, a move that didn't go over well with much of the game's fanbase. On April 5, only a few months post-integration, Ubisoft announced it is ending new content for the game. However, Ubisoft is looking to hire more blockchain-related roles at the company and reportedly wants to put NFTs in future games, so gamers can probably expect to see NFTs in upcoming Ubisoft titles.
Thanks for reading. We'll be back with plenty more next week. In the meantime, check out this cautionary tale from Farnoosh Torabi on how bitcoin blackmailers tried to steal from her dad's E-Trade account.
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The best Amazon Cyber Monday deals you can get right now
The best Amazon Cyber Monday deals you can get right now
This story is part of Gift Guide, our year-round collection of the best gift ideas.
mBlack Friday chaos is winding down and Cyber Monday is your last day to get in on some of the best deals of the year. Major retailers including Best Buy, Walmart and Target all have their final waves of deals live today, and Amazon is no exception, offering big savings on headphones, laptops, TVs, vacuums and more. You can see the entire selection of sales on Amazon's Cyber Monday homepage. But with only a couple of hours left on these discounts, we've gone ahead and sorted through page after page of deals so you can shop for the best offers without the legwork. Browse our list of the top Cyber Monday deals at Amazon below.
Latest Cyber Monday deals
As stock starts to dwindle after the madness of last week, sale items can come and go pretty quickly. We'll keep updating this page with the latest restocks and new deals, so be sure to check back often for the latest. These are current as of Monday, Nov. 29.
Amazon Cyber Monday deals at a glance
Amazon Cyber Monday PC deals
Amazon's Cyber Monday PC deals include a wide variety of Chromebook models, some tablets and a whole bunch of PC accessories like storage, keyboards, headsets and more.
Belkin
The $35 Belkin Power Strip is down to $25. This powerful addition to your work desk comes with a single compact surge-protected extension cord. You get 10 surge-protection AC outlets for charging your computer, laptop, phone, camera and more.
Andrew Hoyle/CNET
The Chromebook Flex 3 from Lenovo features an 11.6-inch display, 4GB of RAM, 64GB of storage and up to 10 hours of battery life per charge. While not designed for intense gaming or video editing, Chromebooks are great for web browsing, social use, document creation and more. This Chromebook should get updates through June 2028.
More great Amazon Cyber Monday PC deals:
More great Amazon Cyber Monday PC accessory deals:
Amazon Cyber Monday Echo and Fire device deals
More great Amazon Cyber Monday Echo and Fire device deals:
Amazon Cyber Monday TV deals
If you need a new TV for a room of your home or happen to be looking to upgrade your audio or streaming experience, these Amazon Black Friday TV deals are what you'll want to check out. There are lots of TVs on sale, from basic 1080p sets to top of the line OLED 4K TVs, so don't miss out right now.
Amazon
This year Amazon began making its own television sets that ran the Fire TV OS alongside the Insignia and Toshiba models that do the same. The Omni Series offers hands-free TV with Alexa and Dolby Vision, where the 4-Series has a few less features but comes in a bit cheaper. There are multiple sizes available for each model.
More great Cyber Monday Friday TV deals:
Amazon Cyber Monday kitchen deals
Air fryers, cookware, blenders, coffee machines and so much more are included in Amazon's Cyber Monday kitchen deals. Whether you want a new Hydro Flask to store your water or a Nespresso to brew you a great cup of coffee in the morning, these are the discounts you've been waiting for.
Nespresso
Making a delicious cup of coffee at home just got a whole lot more affordable with these great Nespresso deals. You can make coffee, iced coffee, espresso and much more with just the tap of a button. The roast is consistent every time and the Nespresso does all the work for you, there's no settings to change or anything based on the pod you use.
Kaffe
This compact, electric blade grinder is a great way to get richer, bolder coffee by grinding at home, rather than picking up stale grounds from the store. It comes in a couple of different finishes, including stainless steel and copper, to match your kitchen decor.
More great Amazon Cyber Monday kitchen and smart home deals:
Amazon Cyber Monday Headphone deals
If you're in the market for a new set of headphones, Amazon's Cyber Monday deals have you covered. The online retailer has wireless, wired, on-ear, in-ear and more all at amazing prices right now. There's a ton of brands on sale as well as different styles and colors, so be sure to check them all out now.
David Carnoy/CNET
With the arrival of Beats new Fit Pro earbuds, I assumed we'd see some nice discounts on the earlier and less feature-rich Beats Studio Buds, which list for $150, or only $50 less than the new $200 Beats Fit Pro. I predicted we might see their price dip to $100 and sure enough, that's what their price is (and a new low).
The Beats Studio Buds look a lot like the rumored stemless AirPods that people were talking about but never materialized -- as AirPods anyway. Geared toward both iOS and Android users, they're missing a few key features on the Apple side of things (there's no H1 or W1 chip), but they're small, lightweight earbuds that are comfortable to wear and offer good sound. They fit most ears securely, including mine -- I run with them without a problem -- but others may find a better fit with the Beats Fit Pro and their integrated wing tips.
Note that using code BYZPPJADUODB during checkout will score you a $10 Amazon credit in addition to the upfront discount.
Read our Beats Studio Buds review.
More great Amazon Cyber Monday audio deals:
When do Amazon Cyber Monday deals end?
Amazon's Cyber Monday deals are mostly an extension of the company's Black Friday deals, which have been live for almost a week or longer. Amazon continues to push new daily deals at midnight PT, so be sure to keep checking back for what's new and to make sure you aren't missing out on any great deals. But don't delay: While a handful of Amazon Cyber Monday deals may stay on for a few hours, or even days, most of the best prices will end at the end of the day on Nov. 29.
Will Amazon have the PS5 or Xbox Series X for Cyber Monday?
Honestly, it's unknown at this point. Amazon could hold another restock event at any point during the weekend. As it stands now, we anticipate that Walmart will have some online availability on Cyber Monday, but nothing else is confirmed or rumored at this point.
Nvidia's Grace AI chip leaves Intel processors behind
Nvidia's Grace AI chip leaves Intel processors behind
Nvidia has a new chip in the works for boosting artificial intelligence and other high-performance computing work: Grace, a design slated to arrive in mammoth supercomputers in 2023. Instead of accelerating conventional Intel-powered servers, though, the design includes its own built-in Arm processors.
Nvidia's current brainiest chip, the A100, is typically yoked to Intel Xeon processors. Nvidia chips do the grunt work, but Intel chips oversee it. With Grace, named after pioneering programmer Grace Hopper, the company opted to embed several Arm Neoverse processor cores within the chip to speed up processing, said Paresh Kharya, an Nvidia senior director. The chip news arrived at Nvidia's GTC 2021 conference this week.
The new chip should let AI customers run computing tasks that are vastly more complex than is possible with today's chip designs, a step toward the general artificial intelligence that is the holy grail of today's machine learning research, said Cambrian AI Researach analyst Karl Freund in a blog post.
The design illustrates Nvidia's dramatic ascent -- and Intel's struggles. Even decades of dominance in technology don't guarantee success when the rules of computing are constantly being rewritten. Your laptop likely comes with an Intel chip, but an Nvidia chip was more likely responsible for important AI work like filtering spam, improving image quality or recognizing your voice when you call your bank.
Not so many years ago, Nvidia was just a component supplier, a designer of graphics chips called GPUs to boost PC performance. Intel's family of processors, or perhaps compatible rival AMD chips, shouldered most of the computing work. Intel, though, has struggled in recent years to keep pace with chip miniaturization and to capitalize on the exploding use of AI.
The result: Nvidia's market capitalization vaulted over Intel's, reaching $357 billion compared with Intel's $278 billion. Much of the growth has been propelled by the fact that GPUs also turned out to be pretty good at AI work, specifically the computationally intense training process that builds the models that later run in data centers, PCs and phones.
Also in the ascendant is Arm, which licenses the chip designs and technology that power every smartphone, new M1-based Apple Macs and the world's fastest supercomputer. Nvidia is seeking to acquire Arm for $40 billion, a move some rivals like Qualcomm object to. Grace's integrated Arm chips let Nvidia read data from memory many times faster than with current designs, the company said.
Nvidia's Selene machine, currently the world's fifth-fastest supercomputer, pairs A100 chips with AMD Epyc CPUs. A 2023 Grace-based machine called Alps at Switzerland's National Supercomputing Center should be seven times faster, Kharya said. The Los Alamos National Laboratory in the US also will buy a Grace-powered supercomputer.
Under new Chief Executive Pat Gelsinger, Intel is working to reclaim its manufacturing lead, planning to tap into others' manufacturing abilities while it works on miniaturizing its circuitry inscribing technology.
Intel is building AI abilities into its main processors while working on dedicated hardware, too. It folded its Nervana chips operation, but its Habana AI acceleration processors are still under active development.
One hot area for AI chips is autonomous vehicles, whose self-driving algorithms rely on processing in camera imagery and other sensor data. It's a core focus for Nvidia AI chip work, for example with its Orin chip scheduled to debut in 2022 vehicles.
Nvidia CEO Jensen Huang announced new processors for AI, graphics and supercomputing at the company's GTC event.
Screenshot by Stephen Shankland/CNET
At GTC, Nvidia announced a new chip called Atlan with quadruple the performance. It should arrive in 2025 vehicles, said Danny Shapiro, Nvidia's senior director of automotive work. Like Orin and Grace, Atlan relies on Arm cores, too.
Nvidia also announced a grander autonomous vehicle technology package called Hyperion 8. It combines two Orin processors with a host of sensors: eight exterior cameras, four exterior wider-angle fisheye cameras, three interior cameras, nine radar scanners and one lidar 3D scanner. The technology should arrive later in 2021.
Nvidia extended a partnership with Volvo, the companies said. Volvo plans to use Orin chips in its next-generation vehicles.
Intel has its own autonomous vehicle division, Mobileye. Tesla develops its own AI chips for its cars.
Amazon's new Ring camera is actually a flying drone -- for inside your home
Amazon's new Ring camera is actually a flying drone -- for inside your home
Update, Sept. 28, 2021: Amazon hosted an event today to show off the latest editions to its growing lineup of devices as well as updates on its services. You can read a recap on our event coverage page. Original story follows.
Read more: Amazon's smart products lead the market even as trust in the company lags
Ring introduced a new product to its growing roster of smart home devices -- the Ring Always Home Cam. Unlike the Amazon company's other security cameras, the Always Home Cam is a flying camera drone that docks when it isn't in use. The Ring Always Home Cam will be available in 2021 for $250.
Along with this hardware announcement, Ring says you'll be able to turn on end-to-end encryption in the Ring app's Control Center "later this year" in an effort to improve the security of its devices.
Read more: Amazon's Ring drone camera sets a bad precedent for privacy
A bit of Ring history
Before Ring was Ring, it was a startup called Bot Home Automation. Bot Home's inaugural product, the 2014 Doorbot, was among the first video doorbells on the market. It had a lot of problems, however -- clunky design, limited features and poor performance. Then Bot Home rebranded to Ring, was purchased by Amazon and now sells a growing variety of smart home security and automation devices and related accessories.
Ring has been in the news for its Neighbors program partnership with law enforcement agencies, which allows Ring customers to share their saved video clips. Privacy advocates express concern about how Ring and law enforcement agencies collect and use the information they gather. Ring also has patents for facial recognition technology that would scan through law enforcement databases.
Security has also been a big topic of conversation, following user data being exposed in December 2018. This prompted Ring to require two-factor authentication and add a privacy and security Control Center in the app where customers can more easily find and make changes to their personal account settings.
The Always Home Cam and end-to-end encryption
Ring says the Always Home Cam travels on a set path you designate -- it can't be controlled manually -- and you can view the feed live in the Ring app. "The path is entirely determined by the customer ... you actually walk the device around your home and ... train it on that path and can set different waypoints for the camera to fly to," Ring President Leila Rouhi told me over the phone.
It has HD live streaming and a 5-minute runtime, and takes about an hour to charge. Rouhi said that short runtime was deliberate, to make it a "purpose-driven security camera."
It can work with the Ring Alarm security kit, so that if activity is detected while your security system is set to away mode, the Always Home Cam is supposed to leave its dock and fly around to see what's happening.
As far as privacy goes, the Always Home Cam's camera is hidden when it's docked and should only begin to record when it leaves the dock and flies around your house. It's designed to hum so you know when it's flying and recording. The camera is also equipped with "obstacle avoidance technology," so it should avoid things in its path. If it does sense an obstacle in the way of its normal path, the camera will return to its dock and send an alert, letting you know it couldn't complete its pass around your home.
Ring has also added a video encryption page to its Control Center privacy and security landing page. After end-to-end encryption becomes available later this year, customers should be able to turn on the feature for each individual compatible device. Ring will be providing a list of compatible devices later this year.
Inflation, Interest Rates and Jobs: How Today's Economy Compares to Recessions of the Past
Inflation, Interest Rates and Jobs: How Today's Economy Compares to Recessions of the Past
This story is part of Recession Help Desk, CNET's coverage of how to make smart money moves in an uncertain economy.
What's happening
There's still debate about whether the US economy is officially headed into a recession, but the economic downturn is causing widespread stress.
Why it matters
Periods of financial volatility and market decline can drive people to panic and make costly mistakes with their money.
What's next
Examining what's happening now -- and comparing it with the past -- can help investors and consumers decide what to do next.
Facing the aftershocks of a rough economy in the first half of 2022, with sky-high inflation, rising mortgage rates, soaring gas prices and a bear market for stocks, leading indicators of a recession have moderated slightly in the past month. That could mean the economic downturn won't be as long or brutal as expected.
Still, the majority of Americans are feeling the sting of rising prices and anxiety over jobs. The country has experienced two consecutive quarters of economic slowdown -- the barometer for measuring a recession -- even though the National Bureau of Economic Research hasn't made the "official" recession call.
At a time like this, we should consider what happens in a recession, look at the data to determine whether we're in one and try to maintain some historical perspective. It's also worth pointing out that down periods are temporary and that, over time, both the stock market and the US economy bounce back.
I don't mean to minimize the gravity and hardship of the times. But it can be useful to review how the economy has behaved in the past to avoid irrational or impulsive money moves. For this, we can largely blame recency bias, our inclination to view our latest experiences as the most valid. It's what led many to flee the stock market in 2008 when the S&P 500 crashed, thereby locking in losses and missing out on the subsequent bull market.
"It's our human tendency to project the immediate past into the future indefinitely," said Daniel Crosby, chief behavioral officer at Orion Advisor Solutions and author of The Laws of Wealth. "It's a time-saving shortcut that works most of the time in most contexts but can be woefully misapplied in markets that tend to be cyclical," Crosby told me via email.
Before you make a knee-jerk reaction to your portfolio, give up on a home purchase or lose it over job insecurity, consider these chart-based analyses from the last three decades. We hope this data-driven overview will offer a broader context and some impetus for making the most of your money today.
What do we know about inflation?
Historical inflation rate by year
Macrotrends.net
Current conditions: The US is experiencingthe highest rate of inflation in decades, driven by global supply chain disruptions, the injection of federal stimulus dollars and a surge in consumer spending. In real dollars, the 8.5% rise in consumer prices over the past year is adding about $400 more per month to household budgets.
The context: Policymakers consider 2% per year to be a "normal" inflation target. The country's still experiencing over four times that figure. The 9.1% annual rate in July was the largest jumpin inflation since 1980 when the inflation rate hit 13.5% following the prior decade's oil crisis and high government spending on defense, social services, health care, education and pensions. Back then, the Federal Reserve increased rates to stabilize prices and, by the mid-1980s, inflation fell to below 5%.
The upside: As overall inflation rates rise, the silver lining might be increased rates of return on personal savings. Bank accounts are starting to offer more attractive yields, while I bonds -- federally backed accounts that more or less track inflation -- are attracting savers, too.
What's happening with mortgage rates?
30-year fixed-rate mortgage averages in the US
Current conditions: As the Federal Reserve continues its rate-hike campaign to cool spending and try to tame inflation, the rate on a 30-year fixed mortgage has grown significantly. In June, the average rate jumped annually by nearly 3 percentage points to almost 6%. In real dollars, that means that after a 20% down payment on a new home (let's use the average sale price of $429,000), a buyer would roughly need an extra $7,300 a year to afford the mortgage. Since then, rates have cooled a bit, even dipping back down below 5%. What happens next with rates depends on where inflation goes from here.
The context: Three years ago, homebuyers faced similar borrowing costs and, at the time, rates were characterized as "historically low." And if we think borrowing money is expensive today, let's not forget the early 1980s when the Federal Reserve jacked up rates to never-before-seen levels due to hyperinflation. The average rate on a 30-year fixed-rate mortgage in 1981 topped 16%.
The upside: For homebuyers, a potential benefit to rising rates is downward pressure on home prices, which could cause the housing market to cool slightly. As the cost to borrow continues to increase with mortgages becoming more expensive, homes could experience fewer offers and prices would slow in pace. In fact, nearly one in five sellers dropped their asking price during late April through late May, according to Redfin.
On the flip side, less homebuyers mean more renters. Rent prices have skyrocketed, and housing activists are asking the White House to take action on what they call a "national emergency."
What about the stock market?
Dow Jones Industrial Average stock market index for the past 30 years
Macrotrends.net
Current conditions: Year-to-date, the Dow Jones Industrial Average -- a composite of 30 of the most well-known US stocks such as Apple, Microsoft and Coca-Cola -- is about 8.5% below where it started in January. Relative to the broader market, technology stocks are down much more. The Nasdaq is off almost 19% since the start of the year.
The benchmark S&P 500 stock index hit lows in June that marked a more than 20% drop from January, which brought us officially into a bear market. Since then, it's bounced back up a little, but some experts warn that a current bear market rally is at odds with expected earnings and we could see even lower stock prices in the near future.
The context: Stock price losses in 2022 are not nearly as swift and steep as what we saw in March 2020, when panic over the pandemic drove the DJIA down by 26% in roughly four trading days. The market reversed course the following month and began a bull run lasting more than two years, as the lockdown drove massive consumption of products and services tied to software, health care, food and natural gas.
Prior to that, in 2008 and 2009, a deep and pervasive crisis in housing and financial services sank the Dow by nearly 55% from its 2007 high. But by fall 2009, it was off to one of its longest winning streaks in financial history.
The upside: Given the cyclical nature of the stock market, now is not the time to jump ship.* "Times that are down, you at least want to hold and/or think about buying," said Adam Seessel, author of Where the Money Is. "Over the last 100 years, American stocks have been the surest way to grow wealthy slowly over time," he told me during a recent So Money podcast.
*One caveat: If you're closer to or living in retirement and your portfolio has taken a sizable hit, it may be worth talking to a professional and reviewing your selection of funds to ensure that you're not taking on too much risk. Target-date funds, a popular investment vehicle in many retirement accounts that auto-adjust for risk as you age, may be too risky for pre- or early retirees.
What does unemployment tell us?
US unemployment rates
Current conditions: The July jobs report shows the unemployment rate holding steady, slightly dropping to 3.5%. The Great Resignation of 2021, where millions of workers quit their jobs over burnout, as well as unsatisfactory wages and benefits, left employers scrambling to fill positions. However, that could be changing as economic challenges deepen: More job losses are likely on the horizon, and an increasing number of workers are concerned with job security.
The context: The rebound in theunemployment rate is an economic hallmark of the past two years. But the ongoing interest rate hike may weigh on corporate profits, leading to more layoffs and hiring freezes. For context, during the Great Recession, in a two-year span from late 2007 to 2009, the unemployment rate rose sharply from about 5% to 10%.
Today, the tech sector is one to watch. After benefiting from rapid growth led by consumer demand in the pandemic, companies like Google and Facebook may be in for a "correction." Layoffs.fyi, a website that tracks downsizing at tech startups, logged close to 37,000 layoffs in Q2, more than triple from the same period last year.
The upside: If you're worried about losing your job because your employer may be more vulnerable in a recession, document your wins so that when review season arrives, you're ready to walk your manager through your top-performing moments. Offer strategies for how to weather a potential slowdown. All the while, review your reserves to see how far you can stretch savings in case you're out of work. Keep in mind that in the previous recession, it took an average of eight to nine months for unemployed Americans to secure new jobs.
§
What's happening
Home prices overall are up by 37% since March 2020.
Why it matters
Surging home prices and higher interest rates make monthly mortgage payments less affordable.
What's next
Rising mortgage rates will make borrowing money more expensive, which will lessen competition to buy homes and eventually flatten prices.
Home prices continued to skyrocket in March as buyers tried to stay ahead of rising mortgage rates.
Prices increased by 20.6% this March compared to last year, according to the S&P CoreLogic Case-Shiller Indices, the leading measures of US home prices. This was the highest year-over-year increase in March for home prices in more than 35 years of data. Seven in 10 homes sold for more than their asking price, according to CoreLogic.
Out of the 20 cities tracked by the 20-city composite index, Tampa, Phoenix and Miami saw the highest year-over-year gains in March. Tampa saw the greatest increase, with an almost 35% increase in home prices year-over-year. All 20 cities experienced double-digit price growth for the year ending in March.
The strongest price growth was seen in the south and southeast, with both regions posting almost 30% gains in March. Seventeen of the 20 metro areas also saw acceleration in their annual gains since February.
"Those of us who have been anticipating a deceleration in the growth rate of US home prices will have to wait at least a month longer," said Craig Lazzara, managing director at S&P DJI, in the release. "The strength of the Composite indices suggests very broad strength in the housing market, which we continue to observe."
Since the start of the pandemic in March 2020, home prices overall are up by 37%. The current surge in home prices is a result of tight competition between buyers in a low-inventory market as they attempt to lock in lower mortgage rates before rates jump even higher throughout the year, as experts predict they will.
If you're considering buying a new home -- or are actively in the market -- the news isn't all bad. Interest rates are at their highest point in more than 40 years, and one potential benefit of that may, eventually, be downward pressure on home prices. As it becomes increasingly expensive to borrow money, fewer people will seek to do so, and homes for sale may receive fewer offers leading to, eventually, lower prices. In fact, nearly one in five sellers lowered their asking price during a four-week period in May and April, according to Redfin.
"Mortgages are becoming more expensive as the Federal Reserve has begun to ratchet up interest rates, suggesting that the macroeconomic environment may not support extraordinary home price growth for much longer," said Lazzara. "Although one can safely predict that price gains will begin to decelerate, the timing of the deceleration is a more difficult call."
Stock Market Secrets: My Smartest Investment Tips After 16 Years of Reporting
Stock Market Secrets: My Smartest Investment Tips After 16 Years of Reporting
This story is part of Recession Help Desk, CNET's coverage of how to make smart money moves in an uncertain economy.
If there's one thing I've learned in all my years of reporting, it's this: The stock market is moody.
In 2006, I began a new role as a financial correspondent reporting from the trading floor of the New York Stock Exchange. My job was to make sense of why the market was up or down each day. I'd start out each morning interviewing mostly older, white male brokers who were in charge of buying and selling shares on behalf of large institutional investors. (Also true: I was required to wear closed-toe shoes and a blazer. The dress code then was strict and a bit ridiculous.)
I learned if tech stocks slumped just after the market opened, it might have been due to lower-than-expected earnings the evening before from an industry giant like Apple. Any hint of turbulence in the tech sector induced panicked brokers to drop shares at the opening bell.
The market doesn't actually reflect reality. It measures the moods and attitudes of people like the brokers I used to interview.
"Today's stock prices aren't because of how businesses are performing today," said Matt Frankel, a certified financial planner and contributing analyst for The Motley Fool, in an email. "They are based on future expectations."
That's the problem: Current prices serve as a gauge of investor confidence, but stock market predictions are, at best, educated guesses. And to further complicate matters, "the markets are not always correct," according to Liz Young, head of investment strategy at SoFi.
Reporting from the floor of the NYSE during the May 2010 "flash crash," when major stock indices crashed and then partially rebounded within an hour.
Screenshot/CNET
Sound discouraging? I hear you, but it's still worth investing. Here's why.
While the stock market represents an elite class of investors (the wealthiest 10% of Americans hold 89% of stocks), it has proven over time to be a reliable way to grow your money for anyone with the tools and information to try. And technology has made it cheaper and easier to access. Now, a whole new generation has the chance to start investing and building wealth. If you can afford your basic needs and have some emergency savings set aside, there's no better time than now to invest -- even if it's just $20 a month.
Of course, the stock market feels particularly risky right now and it's natural to want to safeguard your money when the economy is volatile. If you're on the fence about investing because you're worried about a recession, or you just don't feel comfortable taking financial risks right now, you're not alone. Over 40% of Americans surveyed earlier this spring said that the bear-market downswing made them too scared to invest.
But waiting to invest is an even bigger risk. Here's what I know for sure about how to overcome worry and invest for success.
The 'Right Time' to Invest Is Right Now
Yes, the market is risky. Yes, there will be more crashes. But there's a high probability that the market will recover, just like it bounced back (and then some) a few years after the 2007-09 global financial crisis.
"Things will get better again. They always do," as my friend David Bach, author of the New York Times bestselling book The Automatic Millionaire told me on my podcast So Money.
Sure, it's better to buy at a low price so that you can cash in later from as much appreciation, or compound interest, as possible. But since it's very hard to predict where prices will go, the "right time" to strike is often something we only realize in hindsight. Waiting to invest until the time feels right, when you think stocks have hit a "bottom," can set you up for more failure than success.
Your time in the market is more important than timing the market. Lying low until stocks rebound just means you're going to pay more. Instead, invest consistently and continuously, and let compounding interest build. You'll buy the dips and the highs, but ultimately, over the years, you'll come out ahead. "If you're in your 30s, or your 40s, or your 50s, and you're not retiring in the next year or two, guess what? Everything's on sale," Bach said.
For example, had your parents invested $1,000 in the year 1960, it would be worth close to $400,000 today. That's after a presidential assassination, multiple wars, a global pandemic and many recessions, including the Great Recession. If the past is any indicator of the future, it's proven that markets will eventually recuperate from a downturn, and that they have greater periods of growth than decline.
Read more: Investing for Beginners
Diversification is your best tool against volatility and market tumbles. Investors who are more cautious could try US bonds, which are considered "safe haven" investments because they are backed by the Treasury and offer a predictable return.
Right now, with inflation at 8.5%, Americans are flocking toward Series I Savings Bonds, a government-issued investment that's protected against inflation. I bonds have both a fixed rate and an inflation rate that's adjusted every six months. Right now, I bonds will deliver a 9.62% annualized interest rate, which means they'll get you higher guaranteed returns than any other federally backed bank account.
Technology Makes Investing Cheaper and More Accessible
Investing can be unnecessarily complicated and exclusionary, and the financial industry as a whole can do a lot more to break down barriers to entry. Guests on my podcast So Money, especially women, people of color and young adults, have shared how they wish they'd learned about investing sooner.
My advice? Lean on technology, as well as the proliferation of social media and podcasts, to gain better access and education. At CNET, we are big fans of robo-advisors, such as Wealthfront and Betterment, that provide low-cost portfolio management. There's no need to wait until you have $1 million in the bank, which is what some professional investment advisors require before working with clients. You can start with just a little cash.
And whether you're a fan of TikTok, Instagram or YouTube, there are some reputable experts there offering free education. One cautionary tip: Be sure to check their backgrounds and ensure whomever you're following is not a salesperson disguised as an investment educator!
Read more: Investing Doesn't Have to Be Intimidating. Pros and Cons to Robo-Advisors
Once you're investing, embrace automation so you never go astray. Automating our savings or retirement contributions is a smart move that, honestly, saves us from ourselves. With money in our hands, it's much easier to spend than it is to save, but technology can automatically move that money into an account. We're more likely to save for our future if we're already enrolled in a company retirement plan as opposed to choosing to opt in with each paycheck. Start your contribution with the maximum employer-match rate and try to increase your contribution to 10% or even 15%. That could net you thousands of dollars more each year.
Pro-tip: If you're saving for retirement, see if your plan provider will automatically increase your savings rate each year (60% of employers offer this feature, according to the American Benefits Council).
For all other types of long-term investments such as a brokerage account or Roth IRA, create a calendar reminder at the beginning of the year or on your birthday to increase your contributions.
Read more: Need to Save for Retirement? This Is the Easiest Way
You may also be able to set your portfolio to auto-rebalance so that it adjusts and automatically scoops up more stocks after a down period in the market, which can give you the right balance of stocks and bonds in your portfolio.
Auto-rebalancing is a feature many banks and brokerages offer to ensure your portfolio's allocation doesn't fall off-kilter, says David Sekera, chief US market strategist for MorningStar. For example, let's say you set up your portfolio to have an equal mix of stocks and bonds. A bear market like the one we're in now may reduce the weight of stocks and be too heavy with bonds. But an auto-rebalance can fix that by buying more stocks when prices are low again, according to Sekera.
I've seen first-hand how market volatility is creating a lot of uncertainty, and I know why it's hard to feel confident about investing. But history shows that staying on the sidelines as an investor can be riskier than participating in the market and riding out the dips and highs.
Getting into the market sooner rather than later can be one of the smartest decisions on the road to building personal wealth and economic security. Along the way, be mindful of your risk tolerance, stay diversified and rely on automation to help you stay the course.
TV Shopping? Consider buying a 2021 TV (and Save Money)
TV Shopping? Consider buying a 2021 TV (and Save Money)
What's happening
New 2022 TV models are now available, but plenty of 2021 TVs are still out there.
Why it matters
2022 TVs might be newer, but they're also more expensive and have similar features to the 2021 models. You'll save money right now by grabbing a 2021 unit. Or wait until the fall when 2022 TVs will be on sale.
If you're looking to get a new TV without breaking the bank, opting for last year's model or waiting a few months until prices drop on 2022 models are your best bets to get all the features you want while still saving money. That's because TVs are a mature technology, which means that new, groundbreaking features don't come out every single year. Changes are incremental, with new models adding only minor updates year-over-year. For example, a 2021 TV at a given size or price will generally have similar picture quality and features to its 2022 counterpart. There are still deals on 2021 TVs, which are significantly less expensive than the current models.
When deciding which TV to buy and when, everyone should know about the annual television pricing cycle. It starts at CES, the huge tech show that happens every January, when new TVs (plus other tech like laptops and car technology) are announced each year. Later in the spring and summer -- basically now -- many of the new models are already on the shelves. But those new sets are at their highest prices of the year. During the fall, manufacturers start slashing prices to make way for next year's crop of new TVs.
If you want the latest and greatest technology you're probably already set on a 2022 model and you'll certainly be able to save money on those in the fall. But if you're looking to get a new TV right now, scooping up a deal on a 2021 set is going to be the most affordable option. Just know that you'll probably have to jump on a bargain when you see them, as eventually manufacturers will sell out of their 2021 models.
Read more: LG C1 vs. LG C2: Which OLED TV Should You Buy?
Sony and Samsung TVs with QD-OLED, a new technology promising better picture quality, are expensive and only available in 55- and 65-inch sizes.
Sony
If I buy a 2021 model now, what new features am I missing?
To put it succinctly, not too much. There's always something new around the corner, but changes from year-to-year are usually incremental. If you worry about missing out on the latest and greatest tech, it should give you peace of mind that even if something really new hits the market, it's going to be very expensive.
New QD-OLED TVs from Samsung and Sony are a good example. They combine OLED displays with quantum dot technology, and claim higher brightness and better color compared to current OLED TVs. One of these new sets might sound enticing, but QD-OLEDs come with a premium price tag, so they might be tough to recommend over more-affordable OLEDs like the LG C2.
Read more: QD-OLED: Everything We Know About the Newest TV Tech From Samsung and Sony
In 2022, traditional OLED TVs are arriving in untraditional sizes. This year, LG introduced the 42-inch C2 Series TV, the smallest OLED on the market, while also laying claim to the largest OLED available with the 97-inch G2 TV.
New for 2022, LG's OLED C2 now comes in 42- and 97-inch sizes.
Richard Peterson/CNET
Mini-LED TVs are also on the rise and could deliver close-to-OLED picture quality, but the new models we know about so far will also be expensive. The Sony Z9K and X95K are the company's first models with mini-LED, and the TCL X925pro has a new kind of slimmer mini-LED backlight, but none of them will be cheap. Samsung, TCL and Vizio are expected to announce more TVs later this year, many of which will use mini-LED, but we doubt they'll offer huge improvements over the 2021 models.
Also rolling out across the country is NextGen TV, aka ATSC 3.0. This is free over-the-air 4K TV, and it's moving forward quite quickly -- it might already be available in your city. In 2022 we'll see more TVs with built-in tuners that cost less than ever. Don't feel you need to rush to upgrade, or get those specific models however, since in the worst case you'll be able to buy a cheap external tuner and connect that to your TV.
Read more:Gaming Modes, Webcams and QD-OLED: Which 2022 TV Trends Stand Out?
There's also HDMI 2.1. While 2.1 has several new technologies that are great, it's not going to make any current TVs obsolete (unless it's a current 8K TV, but that's yet another story). As long as your current TV works with your current sources, you should be fine.
Really old TVs, older than 10 years, might have issues connecting to modern streaming and disc sources, but there's no real workaround for that. If your TV doesn't work with a new Roku or Blu-ray player, then you might need to upgrade if you want to use one of those.
Do I need to upgrade?
Forget all the new tech. If your TV works and you're happy with it, keep it. Don't feel any pressure to upgrade.
Modern TVs are, on average, brighter and have better picture quality than the TVs from a few years ago. Unless you're the type of videophile who wants to tweak every setting and fixates on nits and color accuracy, however, you probably don't need a new TV.
The pressure to upgrade is pervasive in our tech culture, but TVs tend to last (and be perfectly functional) longer than most devices. They don't, for example, have batteries that lose capacity like mobile phones -- or have wires that wear out like headphones. A TV from five or even 10 years ago likely works fine, though it might not look as good as the current 4K HDR TVs. So again, if that's not a huge deal for you, you can likely keep what you have for a few more years.
Read more: Best TVs for PS5 and Xbox Series X, Series S
This is even true when considering new consoles, the PlayStation 5 and Xbox Series X. If you've got a PS4, Xbox One or any console connected via HDMI, the new consoles should work fine. They might look better on a new TV, but they'll still look great on yours.
If your TV is having issues, or you just want something larger, that's a different story. New TVs are much cheaper per inch than TVs of the past. You'll be able to replace your current TV with something the same size, looks better and is cheaper than your old TV. Or you can pay the same amount as your old TV and get something that's far bigger.
When is the best time to buy a TV?
TV sales are the biggest in the fall and culminate on Black Friday and Cyber Monday. There are always some incredibly cheap 4K TVs on offer, but that's not the whole story.
First of all, the TVs that get the huge discounts are usually either no-name brands, or low-end models from name brands. They're fine if you just want a cheap TV, but they're not going to offer the picture quality of an even slightly higher-end model. The best TVs go on sale as well, but deep discounts on those are less common.
TV sales happen all year, but Black Friday season sees the biggest discounts.
Roberto Machado Noa/Getty Images
Second, massive discounts on TVs are rare in general. It might be counterintuitive, but TVs typically don't have much mark-up. There isn't a lot of profit in a $500 TV. So unless the store is trying to clear out stock, you shouldn't expect a gigantic drop in price even during sales. Plenty of good discounts are available, they're just not going to be "50% off" or similar, unless there's a specific reason that model is getting such an extreme discount. Or it's a doorbuster in limited quantities.
Third, most big companies don't allow stores to offer their own pricing. This is called UPP, or unilateral pricing policy. It means that a TV from that company is going to cost the same, whether it's on Amazon, in Best Buy, or anywhere else. Well, anywhere else that wants to continue selling TVs from that company. If this sounds sketchy, it is, but that's a topic for a different article.
The Samsung Frame may look sophisticated, but your current TV might work just as well.
Samsung
All in all, is it worth upgrading my TV?
Here's the short version:
Get a new TV now if:
Your current TV is having issues, or is too old to connect to a streaming service like Netflix.
You're willing to buy from a place that has a price-match policy, in case there's a sale.
You want something bigger than what you have now.
Don't get a TV now if:
Your current TV works fine.
There's literally anything else you need or want to spend money on.
If you've got the itch for something new, but you're still on the fence, consider giving your TV a bit of a makeover. If you've never adjusted the settings, it's easy to do and will probably make your TV look better than it ever has. That might tide you over for a bit.
And if you finally decide that, yes, you're ready to buy a new TV now, we at CNET do have some guidelines and suggested models.
As well as covering TV and other display tech, Geoff Morrison does photo tours of cool museums and locations around the world, including nuclear submarines, massive aircraft carriers, medieval castles, airplane graveyards and more.
You can follow his exploits on Instagram and his travel video series on YouTube. He also wrote a bestselling sci-fi novel about city-size submarines, along with a sequel.
§
NextGen TV, aka ATSC 3.0, is continuing its rapid rollout across the country. Major markets like Los Angeles, Atlanta, Denver, Houston and more all have stations transmitting. Meanwhile New York, Boston, and many other markets are slated to have broadcasts later this year. While not every station in every market has a NextGen TV counterpart, more and more are coming on the air.
What's NextGen TV? It's an update to the free HDTV you can already get over-the-air in nearly every city in the US. There's no monthly fee, but you do need either a new TV with a built-in tuner or a standalone external tuner. The standard allows broadcast stations to send higher quality signals than ever before with features like 4K, HDR, 120 Hz, and more. ATSC 3.0 proponents also claim better reception indoors and on-the-go -- whether it's on your phone, or even in your car. The best part is that if you're watching it on your TV it uses the same standard antennas available today.
One potential downside? ATSC 3.0 will also let broadcasters track your viewing habits, information that can be used for targeted advertising, just like companies such as Facebook and Google use today.
Read more:Best TV antennas for cord cutters, starting at just $10
NextGen TV to you
ATSC.org
Here's the top-line info:
If you get your TV from streaming, cable or satellite, NextGen TV/ATSC 3.0 won't affect you at all.
The transition is voluntary. Stations don't have to switch. Many have already, however, for reasons we'll explain below.
It's not backwards-compatible with the current HD standard (ATSC 1.0), so your current TV won't be able to receive it. Your current antenna should work fine though.
Stations that switch to NextGen TV will still have to keep broadcasting ATSC 1.0 for five years.
There are multiple models and sizes of TV with built-in tuners available now from Hisense, LG, Sony, Samsung and others.
As of the beginning of 2022 the majority of the largest markets in the US have at least one channel broadcasting NextGen TV. By the end of 2022, nearly all major and many minor markets will have multiple channels .
Here's the map of actual stations as of January 2022. Orange denotes stations that are live now. Blue is launching before summer. White sometime after the summer.
ATSC
How it will work in your home
Put simply: If you connect an antenna to your TV you will receive free programming, just like most people can get now. Yet, that is selling the potential benefits of NextGen TV short.
NextGen TV is IP-based, so in practice it can be moved around your home just like any internet content can right now. For example, you connect an antenna to a tuner box inside your home, but that box is not connected to your TV at all. Instead, it's connected to your router. This means anything with access to your network can have access to over-the-air TV, be it your TV, your phone, your tablet or even a streaming device like Apple TV. There will be traditional tuners as well, of course, but this is a new and interesting alternative.
This also means it's possible we'll see mobile devices with built-in tuners, so you can watch live TV while you're out and about, like you can with Netflix and YouTube now. How willing phone companies will be to put tuners in their phones remains to be seen, however. You don't see a lot of phones that can get radio broadcasts now, even though such a thing is easy to implement. We'll talk more about that in a moment.
'Voluntary'
In November of 2017, the Federal Communications Commission approved ATSC 3.0 as the next generation of broadcast standard, on a "voluntary, market-driven basis" (PDF). It also required stations to continue broadcasting ATSC 1.0 (i.e. "HD"). This is actually part of the issue as to why it's voluntary.
During the mandatory DTV transition in the early 2000s, stations in a city were given a new frequency (channel, in other words), to broadcast digital TV, while they still broadcast analog on their old channel. These older channels were eventually reclaimed by the FCC for other uses when the proverbial switch was flipped to turn off analog broadcasts. Since a changeover isn't occurring this time around, stations and markets are left to themselves how best to share or use the over-the-air spectrum in their areas.
Because there's no new bandwidth, broadcasters will temporarily share transmitters. Two or more stations will use one tower for ATSC 1.0 (HD) broadcasts and those stations will use another tower for ATSC 3.0 (UHD) broadcasts. This will mean a temporary reduction in bandwidth for each channel, but potentially a limited impact on picture quality due to the better modern HD encoders. More info here.
ATSC/TVTechnology.com
While it's not a mandatory standard, many broadcasters still seem enthusiastic about NextGen. At the beginning of the roll-out, then executive vice president of communications at the National Association of Broadcasters Dennis Wharton told CNET that the improvement in quality, overall coverage and the built-in safety features mean that most stations would be enthusiastic to offer ATSC 3.0.
John Hane, president of the Spectrum Consortium (an industry group with broadcasters Sinclair, Nexstar and Univision as members), was equally confident: "The FCC had to make it voluntary because the FCC couldn't provide transition channels. [The industry] asked the FCC to make it voluntary. We want the market to manage it. We knew the market would demand it, and broadcasters and hardware makers in fact are embracing it."
Given the competition broadcasters have with cable, streaming and so on, 3.0 could be a way to stabilize or even increase their income by offering better picture quality, better coverage and, most importantly, targeted ads.
Ah yes, targeted ads…
Broadcast TV will know what you're watching
One of NextGen TV's more controversial features is a "return data path," which is a way for the station you're watching to know you're watching. Not only does this allow a more accurate count of who's watching what shows, but it creates the opportunity for every marketer's dream: targeted advertising.
Ads specific to your viewing habits, income level and even ethnicity (presumed by your neighborhood, for example) could get slotted in by your local station. This is something brand-new for broadcast TV. Today, over-the-air broadcasts are pretty much the only way to watch television that doesn't track your viewing habits. Sure, the return data path could also allow "alternative audio tracks and interactive elements," but it's the targeted ads and tracking many observers are worried about.
The finer details are all still being worked out, but here's the thing: If your TV is connected to the internet, it's already tracking you. Pretty much every app, streaming service, smart TV and cable or satellite box all track your usage to a greater or lesser extent.
Return data path is still in the planning stages, even as the other aspects of NextGen TV are already going live. There is a silver lining: There will be an opt-out option. While it also requires Internet access, if this type of thing bothers you, just don't connect your TV or NextGen TV receiver to the internet. You will inevitably lose some of the other features of NextGen TV, however.
That said, we'll keep an eye on this for any further developments.
Free TV on your phone?
Another point of potential contention is getting ATSC 3.0 tuners into phones. At a most basic level, carriers like AT&T, Verizon and T-Mobile are in the business of selling you data. If suddenly you can get lots of high-quality content for free on your phone, they potentially lose money. Ever wonder why your phone doesn't have an FM radio tuner? Same reason.
T-Mobile made a preemptive strike along those lines all the way back in September 2017, writing a white paper (PDF) that, among other things, claims, "In light of the detrimental effects that inclusion of ATSC 3.0 can have on the cost and size of a device, the technology trade-offs required to accommodate competing technologies, and the reduced performance and spectral efficiency that it will have for other mobile bands and services, the decision as to whether to include ATSC 3.0 in a device must be left to the market to decide."
"The market" determined you didn't need an FM tuner in your phone, and in the few phones that had an FM tuner, if you bought it through an American provider, it was almost always disabled.
TV broadcasters, on the other hand, are huge fans of ATSC 3.0 on mobile phones. It means more potential eyeballs and, incidentally, a guarantee of active internet access for that return data path. John Hane of the Spectrum Consortium feels that tuners built into phones is "inevitable," and that international adoption of ATSC 3.0 will help push it forward. Wharton says that the focus is getting TVs to work, but mobile is in the plan.
Then there's portable TVs, of which there are HD versions on the market and have been for years. The next-generation ATSC 3.0 versions of these will likely get better reception in addition to the higher resolution offered by the new standard.
Sarah Tew/CNET
Cost (for you)
NextGen TV is not backward compatible with current TV tuners. To get it, you'll eventually need either a new TV or an external tuner.
However, you shouldn't feel a push to upgrade since:
1. NextGen TV/ATSC 3.0 isn't mandatory, and it doesn't affect cable, satellite or streaming TV.
2. HD tuners cost as little as $30 to $40 now, and NextGen TV tuners, which currently sell between $200 and $300, will eventually be cheap as well.
3. Even after they start NextGen broadcasts, stations will have to keep broadcasting regular old HD.
Here's the actual language:
"The programming aired on the ATSC 1.0 simulcast channel must be 'substantially similar' to the programming aired on the 3.0 channel. This means that the programming must be the same, except for programming features that are based on the enhanced capabilities of ATSC 3.0, advertisements and promotions for upcoming programs. The substantially similar requirement will sunset in five years from its effective date absent further action by the Commission to extend it."
In other words, the HD broadcast has to be essentially the same as the new 3.0 broadcast for five years, perhaps longer depending on future FCC actions.
Which brings us to point 3. By the time people had to buy them, HD tuners were inexpensive and are even more so now. The HD tuner I use is currently $26 on Amazon. The first generation NextGen tuners available now are more expensive than that, though they're not outrageous. We'll discuss those below. By the time anyone actually requires one, however, they'll almost certainly be affordable.
Which is good, because there aren't any planned subsidies this time around for people to get a tuner for cheap. I'm sure this is at least partly due to how few people actually still use OTA as their sole form of TV reception. Maybe this will change as more stations convert, but we're a ways away from that.
As you can see, there are lots of parts that need to get upgraded all along the chain before you can get 3.0 in your home.
ATSC/TVTechnology.com
Here's another way to think about it: The first HD broadcasts began in the mid-90s, but when did you buy your first HDTV? As far as the 3.0 transition is concerned we're in the late-90s, maybe generously the early 2000s, now. Things seem like they're moving at a much more rapid pace than the transition from analog to DTV/HDTV, but even so, it will be a long time before ATSC 3.0 completely replaces the current standard.
How to get NextGen right now
LG
If you want to check it out for yourself, many of you already can. The first stop is to go to WatchNextGenTV.com. That website will help you find what stations in your area are broadcasting, or which ones will soon.
Next up you'll need something to receive it. If you're in the market for a new TV there are several options available from Hisense, LG, Samsung, and Sony. Here's our list of all the 2022 TVs with built-in next-gen tuners.
If you want to check out NextGen TV without buying a new television, you'll need an external tuner. It's still early days, so there aren't many options.
The Tablo ATSC 3.0 Quad HDMI DVR
Nuvvyo
At CES 2022 Nuvvyo announced the Tablo, a quad-tuner box that can connect to a TV directly, or transmit over a network to Rokus, Apple TVs, or computers on your home network.
The Silicon Dust has two models, the $199 HomeRun Flex 4K and the $279 HomeRun Scribe 4K. Both have ATSC 1.0 and 3.0 tuners.
If you want a more traditional tuner, BitRouter plans to start shipping its first ZapperBox M1 tuners in the spring. You can reserve one now for $249. It doesn't have internal storage, but BitRouter plans to add the ability to save content on network-attached storage, or NAS, devices via a firmware update. They also plan to add the ability to send the content around your home network, like what the Scribe 4K does.
Zapperbox
Then there's what to watch. Being early in the process, you're not going to find much 4K content, possibly not any. This was the same with the early years of HDTV. It's also going to vary per area. There is certainly a lot of 4K content being produced right now, and that has been the case for several years. So in that way, we're in better shape than we were in the early days of HD.
Basic and paid cable channels over-the-air?
One company is using the bandwidth and IP nature of NextGen to do something a little different. It's a hybrid paid TV service, sort of like cable/satellite, but using over-the-air broadcasts to deliver the content. It's called Evoca, and right now it's available only in Boise, Idaho. Edge Networks is the company behind it, and it wants to roll it out to other small markets where cable offerings are limited, and broadband speeds are slow or expensive.
It's an interesting idea for underserved and often forgotten-about markets.
Read more: Cable TV channels and 4K from an antenna?
Seeing the future
The transition from analog broadcasting to HD, if you count from the formation of the Grand Alliance to the final analog broadcast, took 16 years.
Though many aspects of technology move rapidly, getting dozens of companies, plus the governments of the US and many other countries, all to agree to specific standards, takes time. So does the testing of the new tech. There are a lot of cogs and sprockets that have to align for this to work, and it would be a lot harder to fix once it's all live.
But technology moves faster and faster. It's highly doubtful it will take 16 years to fully implement NextGen TV. As we mentioned at the top, dozens of stations are already broadcasting. Will every station in your city switch to NextGen TV? Probably not, but the bigger ones likely will. This is especially true if there are already other NextGen TV stations in your area. There's a potential here for stations to make additional money in the long run with 3.0, and that's obviously a big motivator.
There's also the question of how much content there will be. If it follows the HDTV transition model, big sporting events in 4K HDR will come first, followed by lots and lots of shows featuring nature scenes and closeups of bugs. Seriously -- this was totally a thing. Then we'll see a handful of scripted prime-time shows. My guess would be the popular, solidly profitable ones that are produced (not just aired) by networks like CBS and NBC.
So should you hold off buying a new TV? Nope, not unless you only get your shows over the air. And even if you do, by the time there's enough content to be interesting, there will be cheap tuner boxes you can connect to whatever TV you have.
For now, NextGen TV seems to be well on its way.
As well as covering TV and other display tech, Geoff does photo tours of cool museums and locations around the world, including nuclear submarines, massive aircraft carriers, medieval castles, epic 10,000 mile road trips, and more. Check out Tech Treks for all his tours and adventures.
He wrote a bestselling sci-fi novel about city-size submarines, along with a sequel. You can follow his adventures on Instagram and his YouTube channel.
