The Daily Money: 'The next Henry Ford' hasn't made a car

In today's Daily Money newsletter, we have insights on the housing market, Elio Motors, the child tax credit and Disney World. ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

The Daily Money ALL THE MONEY NEWS YOU NEED TO KNOW   Tuesday, October 19 Good morning, Daily Money team, Nathan here hoping your day is off to a great start! 🚗 Where did the money go? That's the question you can't help but ask when reviewing the rise of Elio Motors, a start-up automaker that collected $28 million in deposits from more than 65,000 people for its promised $7,000, three-wheeled, two-seat, 84 mpg vehicle. My colleague Craig Harris and I today detail what we found in Part 2 of our three-part investigation into Elio Motors. A lot of questions remain. But here's what we know for sure: Elio has not built a single car, yet founder-CEO Paul Elio did manage to pay off his personal debts while his company was taking in cash. 💰 The Daily Money is USA TODAY's Monday-through-Friday-morning roundup of all things personal finance, business and tech. If this email was forwarded to you or if you found it online, you can subscribe for free here! On to our ...  💡 INSIGHT OF THE DAY: Earlier this year my colleague Swapna Venugopal Ramaswamy reported that the housing market was so red-hot that various apps were buying homes, in some cases sight unseen, from owners. Then the so-called iBuyers do light renovations and aim to sell for a profit. Well, Zillow has had enough, at least for now. The housing app is done acquiring houses in 2021, saying it "has hit its capacity for buying homes for the remainder of the year." OK. But experts say the real reason might be because competition is fierce, prices are sky-high and home-flipping is becoming more difficult amid labor shortages. 📰 And here are more stories you won't want to miss: 1. Check your bank account: The October child tax credit payment was deposited last week. 2. So your phone is overloaded with apps: Here's how to get rid of them. 3. Looking to invest in electric vehicles? Take a look at these three stocks. 4. Yes, Disney World is a bit pricey: But there are freebies to be had in the Magic Kingdom. Only when you wish upon a star. --@NathanBomey 'The next Henry Ford' didn't build a car. But he did pay his debts. Paul Elio fell on hard times during the Great Recession of 2008. He built a plan to rebound but that road back has been littered with speedbumps. Why Is Zillow pumping the brakes on house flipping? October child tax credit payments hit bank accounts last week The electric vehicle stocks could pay off for years Best Buy kicks off early Black Friday sale, price guarantee Can a career coach help get your career back on track? SEC should adopt measures to diversify asset management, senator says John Deere strike comes as farmers struggle to find parts, equipment These are the products grocery stores are running out of How bad can it get? 4 reasons car prices will keep rising   FOLLOW US Problem viewing email? View in browser Unsubscribe • Manage Newsletters • Terms of Service • Privacy Policy/Your California Privacy Rights • Privacy Notice • Do Not Sell My Info/Cookie Policy • Feedback © 2021 USA TODAY, a division of Gannett Satellite Information Network, LLC. 7950 Jones Branch Drive, McLean, VA 22102