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Canada's First Nations are constructing dense new housing in the country's most expensive city. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementCanada's First Nations are breaking new ground with several major housing developments in the city of Vancouver. One project minutes away from downtown Vancouver, being built by the Squamish Nation, will include 11 towers and 6,000 housing units. Take a look at these projects and the future of housing in Vancouver.
Persons: , Brennan Cook, Cook Organizations: Service, Business, Nation, Nations, MST, Corporation Locations: Canada, Vancouver, , Squamish, Waututh
Street safety advocates say fire officials' focus on speed is making roads more dangerous. Many of the city's residents want to take action to make their streets safer. In March, LA voted overwhelmingly for a street safety policy that will finally enforce a nearly decade-old mobility plan to make the city's streets safer for non-drivers. Fire departments across the country have for decades opposed safer street design. He said fire departments can be convinced to support safer street design if they're heavily engaged by planners.
Persons: , we're, didn't, Michael Schneider, isn't, Schneider, Johns Hopkins, aren't, what's, Patrick Siegman, Kazuhiro Nogi, Siegman, Andy Boenau, Dan Burden, they're, Burden, Dan Organizations: Service, LA, Vehicles, Business, LA ., Code, Getty, San Francisco, Supervisors, National Fire Protection Locations: Angeles, Los Angeles, America, LA, Texas, Osaka, Japan, Paris, France, American, Tokyo, AFP, Baltimore, California
New York City got its first tiny forest, planted on Roosevelt Island on April 6. AdvertisementVolunteers and supporters gather in Southpoint Park on Roosevelt Island for a ceremony before planting a pocket forest on April 6, 2024. AdvertisementSharon Bean volunteered at the pocket forest planting in honor of her sister, Kat Livingston, an avid gardener who died of cancer in January. SUGi has created pocket forests in 42 cities on six continents since 2019 — the Roosevelt Island forest is the group's 200th. AdvertisementThe tiny forest, also known as the Manhattan Healing Forest, sits at the southern end of Roosevelt Island.
Persons: Akira Miyawaki that's, Elise Van Middelem, Eliza Relman, Curtis Zunigh, Jerry Nadler, Franklin D, Roosevelt, Sharon Bean, Kat Livingston, Judith Berdy, she's, Berdy, Christina Delfico's, Delfico, Van Middelem, We've, SUGi, Bean, Tayana Panova, Panova, Olivia MacDonald Organizations: Service, York, Volunteers, New, Lunatic Asylum, Lenape Center, Manhattan Healing, Navajo Nation, New York Times Locations: York City, Roosevelt, Japanese, New York, Park, Dutch, British, Welfare, Manhattan, New York State, London, Syracuse , New York, New Mexico
An office building in St. Louis sold for $3.6 million after selling for $205 million 18 years prior. Downtown St. Louis is filled with unoccupied buildings and an unwillingness to visit them. The steep drop in the tower's value is just one sign that St. Louis' central business district is struggling, reports say. Indeed, St. Louis' downtown resembles a ghost town with a number of boarded-up buildings, according to The Wall Street Journal's Konrad Putzier. AdvertisementThe problem with Midwestern cities, like St. Louis, is that there's not much attracting people to the center of the city — and that applies to commuters, tourists, and residents.
Persons: Louis, , Konrad Putzier, Glenn MacDonald, Business Insider's Eliza Relman, Michael Hicks, BI's Relman, Relman, Tracy Hadden Loh Organizations: Service, T, Goldman Group, News, Washington University, Olin Business School, Business, University of Toronto, Midwest ., Ball State University, Midwest, Brookings Institution Locations: St, Downtown St, Francisco's, North America, Midwest, Midwest . San Francisco, Indiana, , San Francisco and New York
The most expensive neighborhood in America is in Coral Gables, Florida, Bloomberg reports. AdvertisementThe post-pandemic Florida real-estate boom just earned the state a new superlative. Today, seven of the 10 most expensive neighborhoods in the US are located in Florida, Bloomberg reported, citing data from Zillow. The priciest neighborhood in America is Gables Estates in Coral Gables, where a typical home costs $21.2 million, Bloomberg reported. Pre-pandemic, in 2020, the most expensive neighborhood in America was Beverly Hills Gateway, where a typical home cost a cool $10.6 million.
Persons: , Jeff Bezos, BI's Eliza Relman Organizations: Bloomberg, Zillow, Tech, Service, Gables Estates, Business, Beverly Hills Gateway, Royal, Beverly Hills, Apple, Microsoft, Amazon Locations: America, Coral Gables , Florida, Beverly Hills, Florida, Coral Gables, Naples , Florida, , New York, Miami
Miami has one of the hottest real estate markets in the country. Real estate developers are promoting new housing in drier parts of the city as an escape from regular flooding, researchers have found. And Miami is far from alone — coastal flooding, extreme heat, and other climate impacts are affecting cities across the country. And Miami residents are spending a larger share of their income on housing these days. The rent-to-income ratio in Miami has risen from 35.9% in 2019 to 37.0% at the end of last year, according to Moody's.
Persons: Moody's, Pedro, Organizations: Service, Business, Liberty, Dade, McKinsey & Company, Miami Locations: Miami, South Florida, Little Haiti, Liberty City, — Miami, Florida, Dade County
There is no loneliness epidemic
  + stars: | 2024-04-07 | by ( Eliza Relman | ) www.businessinsider.com   time to read: +17 min
With the report, a steady trickle of headlines about the epidemic turned into a firehose: "Loneliness is at epidemic levels and it's killing Americans" (USA Today); "This Epidemic of Isolation Is as Harmful as Smoking" (Bloomberg); "America's Loneliness Epidemic Comes for the Restaurant" (The Atlantic). There's one problem: The loneliness epidemic doesn't exist. Even the authors caution in their meta-analysis that "the frequently used term 'loneliness epidemic' seems exaggerated." Calling it a "loneliness epidemic," then, may be a bit like calling COVID a "sneezing pandemic." "There are many, many surveys that are just making up questions about loneliness and are not using the UCLA Loneliness Scale or some other validated loneliness scale," she says.
Persons: Vivek Murthy, Murthy, Hillary Clinton, Donald Trump, Sen, Chris Murphy, Ruth, University of Michigan —, Eric Klinenberg, Julianne Holt, it's, Dave Sbarra, Holt, David Riesman, Lunstad, I've, , Sbarra, Klinenberg, Adam Mastroianni, " Mastroianni, Mastroianni, Biden, isn't, Jill Lepore, voicemails, There's, Jerome Adams Organizations: Bloomberg, Business, York, Gallup, University of Michigan, New York University, Brigham Young University, University of Arizona, Bell, University of California Los, Commerce, UCLA, Republican, Democratic Locations: Connecticut, Brooklyn, University of California Los Angeles, America, Washington, DC, COVID
AdvertisementFor decades, the city's restrictive zoning and land-use policies have made missing-middle housing almost impossible to build. But there aren't many options, particularly for homeownership, between mostly high-end apartments and prohibitively expensive single-family homes. But he's concerned the law won't do enough to shorten the permitting process for missing-middle housing construction. The HOME Act will encourage the construction of smaller single-family homes and promote density, making housing — particularly homeownership — more affordable. Turner just wants the city to "level the playing field" for developers who are willing to build missing-middle housing.
Persons: , Scott Turner, Turner, Austin's, Austin, Eliza Relman, that's, he's, Brennan Griffin, Joe Sohm, Brandon Bell, Greg Anderson, Anderson, there's, It's, Nicole Nabulsi Nosek, I've, townhomes Organizations: Service, Business, Riverside Homes, Austin, Austin Business, Texas, HOME, Austin Habitat, Humanity, Texans, Reasonable, Democrats Locations: Austin, Austin , Texas, Texas, Manor, Georgetown, City Hall
But a Malibu couple's struggle to build an ADU shows how local governments are standing in the way. Jason and Elizabeth Riddick have been trying to build an ADU in their backyard in the pricey coastal enclave since July 2020. So they applied for a permit from the city to build a small ADU and a minor addition to their existing house. So the Riddicks sued the city and in July 2022, a Los Angeles County Superior Court judge sided with the couple. Again, the city appealed the decision, this time to the state supreme court this month.
Persons: , Elizabeth Riddick, Elizabeth, they've, Elizabeth said, Jason, David Deerson, Deerson, they're, ADUs Organizations: Service, Business, Malibu Times, Pacific Legal Foundation, New, New York City Locations: California, Los Angeles, LA County, New York
AdvertisementMindy Wight, CEO of the Squamish development group building Sen̓áḵw, called it "the creation of a modern Squamish village" in an interview with Business Insider. Canada's federal auditor general recently condemned a "distressing and persistent pattern of failure" by federal programs designed to support First Nations housing and infrastructure, among other services. The housing projects aren't the only major developments underway on indigenous land in Canada. There are no housing or infrastructure developments on US tribal land that match the scale of the First Nations projects in Canada. While some Native American tribes have spearheaded significant housing projects, most indigenous-owned land in the US isn't in the most valuable housing markets.
Persons: , it's, Mindy Wight, Sen̓áḵw, Brennan Cook, Cook, Heather, reaps, Elisa Campbell, Jericho, Campbell, Heather Lands, Sen̓áḵw, Gordon Price, Price, Tyler Harper, aren't, Michelle Cyca, Alex Armlovich, Armlovich, Noah Smith Organizations: Service, Nations, First Nations, Business, Nation, MST, Corporation, MST Development Corporation, Vancouver City, Canada Lands Company, Energy, Technologies, British Columbia, CBC Vancouver, Bates, Niskanen Locations: Canada, Vancouver, Squamish, Squamish Nation, Wight, Jericho, British, American, MacLean's, Canadian
Harvard research indicates friendships with richer people are linked to upward economic mobility. AdvertisementBefriending rich people can do a whole lot to boost your economic mobility, but you need to be able to find them first. Research from Harvard economist Raj Chetty has shown that friendships with richer people are linked to upward economic mobility. But to do that, you need to live in areas where you'll be able to mix across income levels. That's because, among children who grow up in areas where lower-income kids have more higher-income friends, there's "much higher rates of upward mobility."
Persons: , Raj Chetty, Chetty Organizations: Harvard, Service, Research, Business
Like Frieden, they're having a hard time finding what they need on the market. Frieden says she's surprised developers aren't doing more to meet the demand, particularly at the higher end of the market. Empty-nest boomers now own twice as many large homes as millennials with kids do, according to a recent Redfin analysis. This is making it even harder for millennials and households with kids to break into the market or upsize their homes. AdvertisementThis misallocation of housing — and shortage of larger condos and apartments — will become increasingly urgent as boomers age in homes that aren't ideal — or even safe — for them.
Persons: Deborah Frieden, , they've, Frieden, they're, they'd, Joe's, she's, I've, Daryl Fairweather Organizations: Service, BI Locations: Oakland , California, Lake Merritt, Frieden
Celebrities like Taylor Swift are frequently called out for their private jet usage. The average private jet owner is a 50-year-old man working in finance or real estate. Last month, social-media users called out Taylor Swift for her frequent private jet trips (even if some of the flights may not be what they seemed). Stars like Kim Kardashian and Kyle Jenner have also been roasted for years over their private jet usage. Still, despite all the attention and outrage directed at popular female celebrities and their jets, they are not the majority of private jet travelers.
Persons: Taylor Swift, , it's, Kim Kardashian, Kyle Jenner, Fernando Gonzalez, Chuck Collins, BI's Eliza Relman Organizations: Service, First, Travel Weekly, Business, FAA, Institute for Policy Studies Locations: New York
Some current and former CIA officers have raised concerns that a CIA task force in charge of investigating Havana syndrome soft-pedaled its investigation, CNN has previously reported. The control group was small and not perfectly matched to those with Havana syndrome. In the second study, researchers tested hearing, balance, eyesight and neuropsychological state, and they looked at blood biomarkers, in the two groups. Headache was a common concern among the participants with Havana syndrome. The study concluded that whatever caused Havana syndrome seems to create symptoms “without persistent or detectable physiologic changes.
Persons: David Relman, don’t, ” Relman, , AHIs, Relman, Trump, , Dr, Sanjay Gupta, ” Dr, Leighton Chan Organizations: CNN, National Institutes of Health, Stanford, CIA, AHIs, CNN Health, NIH Locations: Havana, Cuban, Bogota, Colombia, Vienna, Austria
It belongs to San Francisco-based fashion writer Derek Guy, also known as the "Twitter menswear guy" behind the @dieworkwear account. But, increasingly, he's been sounding off on his other passion: affordable housing. "I'm probably never going to be able to afford a home in San Francisco, that's my guess, or anywhere in the Bay Area, unless I move really, really, really far out," he said. But Guy has written about how diversity in cities — made possible by affordable housing — is essential for creative inspiration. How about you put me in the middle of a ton of affordable housing."
Persons: , you've, Derek Guy, Guy, he's, I'm, Maison, ragamuffins, KP6dM0W62T, derek, Guy's, YIMBYs, we're, Matthew Yglesias, Kate, Kate her, Princess, Wales, Middleton, He's Organizations: Service, Business, Franciscans Locations: San Francisco, Bay, North America, Vietnam, , Tokyo
Read previewThe most competitive rental markets in the country are failing to add enough new housing. That's according to a new analysis of the country's 139 largest rental markets by RentCafe, which found that 17 of the 20 most competitive rental markets in the US are building less than the national average. Miami has the most competitive rental housing market in the country, the report found. Just 3.5% of Miami's rental apartments were vacant early this year — far below the five to eight percent vacancy rate that's considered healthy. Seven midwestern cities are among the top 20 most competitive markets in the US.
Persons: , RentCafe Organizations: Service, RentCafe, Oklahoma City, Silicon Valley , California —, Business, Income Housing Coalition, , Miami, Chicago . College towns —, University of Arkansas Locations: Oklahoma, Bridgeport, New Haven, Connecticut, Lansing, Ann Arbor , Michigan, Silicon Valley , California, Brooklyn , New York, San Diego, North New Jersey, Miami, Midwest, Milwaukee, North Jersey, Chicago, Fayetteville
The Dutch offer home mortgages with evolving interest rates that can automatically decrease over time. However, other countries are taking notice: The Dutch mortgage lender DMFCO recently began offering Dutch-style mortgages in the UK. AdvertisementBut there are some deeply entrenched features of the American mortgage system that make it unlikely we'll see widespread adoption of Dutch-style mortgages. AdvertisementAdditionally, mortgage interest rates in the US aren't determined by the loan-to-value ratio beyond a certain point. AdvertisementBut Cecela says he's interested to see what happens with the Dutch-style mortgages newly on offer in the UK.
Persons: , Lindsey Harn, Lindsey, Harn, Guy Cecala, Cecala, Melissa Cohn, Raveis, Cohn, he's Organizations: Service, Business, Lindsey Harn Group, Mortgage, Mortgage Finance, USA Locations: Netherlands, San Luis Obispo County , California, Europe
US homeowners are staying put due to high mortgage rates and home prices. Biden has proposed housing policy changes, including a $10,000 tax credit to sell a home. The tax credit could get more starter homes on the market, but much more building is needed. AdvertisementWith mortgage rates elevated, lots of homeowners in the US are staying put. They figure they're better off waiting until mortgage rates or home prices — or both — come down before they begin the hunt for their next house.
Persons: Biden, Organizations: Service, Business
The American Society of Civil Engineers gave it a C-minus in 2021 and said the US needed about $2.6 trillion in infrastructure investment over a decade. These include nonvehicle transportation projects such as pedestrian bridges and urban bike paths and neighborhood-level projects like park improvements. Inflation, worker shortages, and other obstaclesAcross the country, there are some key practical challenges to implementing infrastructure projects. Overcoming barriersLocal governments and employers across the country recognize many of the challenges to building and maintaining major projects. Under the Infrastructure Investment and Jobs Act alone, 72 programs "emphasize or allow some type of workforce development activity," a Brookings report found.
Persons: , Joe Biden, Joseph Kane, Charles Marohn, Marohn, Kane, Drew Angerer, it's, Biden, It's, Greg Gianforte Organizations: Service, American Society of Civil Engineers, Infrastructure Investment, Jobs, Business, Transportation, Brookings Institution, Rail, Potomac, White House, Texas Department, US Department of Transportation, Michigan's, Grant, they're, Biden, Builders and Contractors, Congress, Jobs Act, Brookings Locations: Washington, Strong, Baltimore, Los Angeles, San Francisco, Long, New York, Austin, Austinites, America, Detroit, Brookings, Montana
Greg Gianforte blames Paramount's hit 2018 soap opera "Yellowstone" for what he calls his state's most pressing crisis: housing affordability. The so-called Montana Miracle has been celebrated by progressive housing advocates across the country. The policies are supply-side fixes for the crisis — creating more housing to drive down costs — rather than subsidizing renters or lower-income homebuyers. Education Images/Getty ImagesRunning on housingGianforte was "pretty distant" when it came to overseeing the housing task force, Dugan said. Last June, he extended the housing task force through the next legislative session.
Persons: , Greg Gianforte, Paramount's, Kevin Costner's, Gianforte, It's, it's, Kelly Lynch, who've, Mary Vanier, Kendall Cotton, Nathan Dugan, Daniel Zelnikov, Zelnikov, Lynch, Dugan, trickier, I've, he's, That's, Karlen, George Nikolakakos Organizations: Service, Business, Big Sky, Montana League of, Republican, Democratic, Montana, Frontier Institute, GOP Locations: Montana, Bozeman, and Towns, Montana's, Missoula, California, Whitefish, Washington
"Why aren't we talking about the most terrifying part of Love is Blind: this Charlotte housing development," one viewer posted on X alongside an aerial image of the newly-built cookie-cutter rowhouses. I think my favorite part of this season of Love is Blind is how horrible it makes Charlotte look as a city. But you're still doing the wrong thing," Toderian said of Blu South. "Some folks estimate that before this went into effect, about 84% of the residential land in Charlotte was restricted to only single-family housing," Lallinger said. Editor's note: March 7, 2024 — This article was updated after publication to include a comment from Blu South.
Persons: , Netflix's, what's, Charlotte, who've, there's, Stefan Lallinger, Yongqiang Chu, Chu, it's, Brent Toderian, Toderian, Charlotte's, UDO, Lallinger, quadruplexes, Stephanie Watkins, Cruz, Watkins, townhomes Organizations: Service, Business, University of North, Blu, North, North Carolina Housing Coalition Locations: Charlotte , North Carolina, Pineville, exurbs, Charlotte, University of North Carolina, they're, North Carolina
AdvertisementAs TikTok becomes the new town square for all things economic transparency, the latest target of populist ire is New York City landlords. Several videos that have recently gone viral show viewers how to look into their rent histories and call out examples of potentially illegal hikes. Wait times for rent histories are now at 20 business days, up from 10 in late January, as a result of "social media activity." Klenkar has made TikToks about her old apartment and rent histories and has had "lots" of people reach out with their own rent histories. More may be on their way as New Yorkers seem to be requesting their rent histories en masse.
Persons: they've, , Danielle —, Danielle, TikTok, it's, There's, they're, Allia Mohamed, She's, Mohamed, They've, he's, Carla —, Carla, Thomas Trutschel, Anna Klenkar, Klenkar, I've, Gothamist, DHCR, overcharge, Esteban Girón, shouldn't, It's Organizations: New York, Tenants, Service, Business, BI, Yorkers, New, US, Division, Housing, Community, Rent Administration, Rent, New York State Homes, Community Renewal, Tenant Union, Tenants PAC, Directors Locations: New York State, Cobble Hill, Brooklyn , New York, York City, New York, New York City, New, Washington Heights, Manhattan, Long Island City, Lower, Side, backpay
A spokesperson for DHCR told Business Insider the "surge" in rent history requests is "unprecedented." Mohamed said that since she posted that TikTok, hundreds of people have emailed openigloo asking for help deciphering the rent history information they've received from DHCR. Diana Prendergast, a 27-year-old recording artist who lives in New York, requested her rent history after learning about it from TikTok. She said she's still awaiting her rent history. Did you request your rent history, or discover you were being overcharged?
Persons: , openigloo, Allia Mohamed, Mohamed, they've, Diana Prendergast, she's, Gothamist Organizations: Service, New York, Homes, Community Renewal, New, DHCR, Business, The Met Council, Housing Locations: New York, DHCR, TikTok, New York City
Here's where the leading candidates for the Senate seat stand on housing and homelessness policy. He's proposed an audit of federal homelessness programs and said he'd support funding mental health and substance abuse programs, as well as affordable housing. "The housing affordability crisis is fundamentally a supply problem. Rep. Katie Porter, who's represented south-central Orange County since 2019, has called housing affordability her "top issue" during her Senate campaign. "We have housing policy that is being written by career politicians who cater to their big bank donors."
Persons: , Dianne Feinstein, Barbara Lee, Katie Porter, Adam Schiff —, Steve Garvey, who's, Porter, He's, Schiff, mrIsKxNu0L, Lee Organizations: Here's, Senate, Service, homebuyers, Housing, Affordable Housing Trust Fund Locations: California, Ukraine, Gaza, Washington , California, Washington, Orange County, @katieporteroc
It's deadly — especially for anyone attempting to walk or bike the city streets. More people are killed in traffic accidents in LA than in any other city in the US — and things are headed in the wrong direction. A billboard on Vermont Avenue — a 23-mile long north-south thoroughfare — blasts a chilling statistic: more pedestrians were killed on that road than in the state of Vermont in 2022. Seven pedestrians were killed in the state, while eight people were killed on the LA road with the same name. Advertisementfact check: sad, but true pic.twitter.com/re4AZduiTK — Yes on Measure HLA (@healthystreetla) January 16, 2024The avenue is among the deadliest in LA and has a few of the most dangerous intersections in LA County.
Persons: , Mariah Carey, Miley Cyrus, Michael Schneider, Schneider, Francine Orr, hasn't, that's Organizations: Service, Business, New York City, Vermont, City, Senate, LA's Locations: Los Angeles, LA, New York, Vermont, LA County, Hoboken , New Jersey, Northern Europe
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