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Affordability remains a headacheHome affordability has taken a huge hit since the pandemic as mortgage rates, property prices, and — by extension — down payments have surged. Mortgage rates have since more than doubled at over 7%, and houses cost over $70,000 more at $332,000. The 30-year fixed mortgage rate is now roughly triple the 2.7% rate it was at in early 2021. The savings rate in the late 2010s was around 6.5% of disposable income, and it spiked early in the pandemic due to a surge of government stimulus. 23 cities where down payments are down meaningfullyAlthough affordability is limited as mortgage rates, home prices, and down payments have risen, there are still dozens of cities where the cost of buying a house is headed lower.
Persons: , Hannah Jones, Realtor.com, Freddie Mac, they'd, Jones Organizations: Service, Business Locations: Realtor.com
Uber will now let you book a shuttle to the airport
  + stars: | 2024-05-15 | by ( Clare Duffy | ) edition.cnn.com   time to read: +3 min
New York CNN —Uber wants to make it cheaper to get a ride to the airport, concerts or sporting events. The rideshare company on Wednesday announced the launch of Uber Shuttle, an offering that will let users book up to five seats in a shuttle from a central location to an event or the airport – for less than the cost of a regular Uber ride. The cost of the shuttle rides won’t be affected by surge pricing, a common affliction when lots of people are looking for rides at the same time. Uber has previously rolled out early shuttle tests, including in India, and as an offering for corporate customers. Uber Shuttle will let riders book up to five seats in a shuttle to the airport or a concert or sporting event, for less than the cost of a regular Uber ride.
Persons: New York CNN — Uber, Uber, Dara Khosrowshahi, Camiel Irving Organizations: New, New York CNN, Wednesday, Uber Shuttle, Costco, Lyft Locations: New York, India, Chicago, Pittsburgh, Charlotte, Miami, New York City, Los Angeles, San Francisco, San Diego, Atlanta, Canada
A new Zillow and StreetEasy analysis finds that rental price growth is far outpacing wage growth in most big cities — and New Yorkers are particularly screwed. In New York City, rents increased seven times as fast as wages from 2022 to 2023. Similarly, renters in Boston, Cincinnati, and Buffalo are seeing their wage growth dwarfed by their rent increases. But it's not all bad news for prospective and current tenants: There are still a handful of cities where wage growth has outpaced rent increases. While wages rose by 5.5% between 2022 and 2023, rents increased by just 0.8%, the Zillow/StreetEasy report found.
Persons: it's, Tesla, Austin, that's, there's Organizations: Service, Business, Apple, The Atlantic Locations: New York City, Boston , Cincinnati, Buffalo, Austin, Portland , Oregon, Salt Lake City, San Jose, Houston, Salt Lake City , Minneapolis, Riverside , California, Los Angeles, San Francisco, San Diego, California, Southern, Raleigh, Charlotte, North Carolina, Miami, Georgia, Tennessee
In short, Trump’s New York congestion comment was classic dead cat. In the same Truth Social message, the former president mused about the impact of congestion pricing elsewhere in the world. After all, congestion pricing has been introduced in a number of cities, from Singapore to Stockholm, over the past 25-odd years. I live about four miles from the edge of the congestion zone, and it’s never once been a problem to circumvent. By most metrics, London’s congestion pricing experiment has been a resounding success.
Persons: Rosa Prince, Read, Donald Trump, , Rosa Prince Rosa Prince Here, Stormy Daniels, mused, It’s, , I’m, it’s, Akmen, they’re, Boris Johnson, there’s, Sadiq Khan, Ella Roberta Adoo, Khan, Mayor Khan, he’s Organizations: Politico UK, London CNN — Former, New, Big Apple, Getty, Conservative, Transport, London, Labour Party, Trump, TfL, CNN, Twitter, New Yorker Locations: New York City, New York, Singapore, Stockholm, London, AFP, It’s, Manhattan, London —, England, New
Read previewTesla spent around $2 million on lidar, a technology used in EVs that Elon Musk has previously referred to as a "fool's errand" and that any carmakers relying on it are "doomed." But according to a recent earnings report from lidar manufacturer Luminar, Tesla was its largest customer last quarter and "comprised more than 10%" of its revenue during the period. The CEO said Tesla EVs only rely on camera-based vision systems for driver-assist features. The Tesla CEO said he personally ran a project at SpaceX to create lidar sensors to help navigation. Last year, Tesla recalled over 2 million vehicles after regulators said its Autopilot system didn't protect enough against drivers misusing it.
Persons: , Tesla, Elon Musk, Luminar, Lidar, lidar, Musk, Elon Musk's Organizations: Service, Business, Systems, SpaceX, Tesla, Luminar, Traffic Safety Administration, US Department of Justice Locations: EVs, Tesla's
His wife, a teacher, had been to China before and realized she could get a visa to teach at an international school there and bring Scott along. The school that hired her also hired Scott, and the two put their lives in the US on hold and relocated to China. His wife got a job as a teacher at an international school, and the two moved to China on her visa. Related storiesBefore moving to China, the couple paid $1,900 a month in rent in Arizona. He said their internet bill was $130 a month, their cellphone bill was $70, and their electricity bill was $100.
Persons: Scott Vleeschouwer, weren't, Scott, Vleeschouwer, it's, they've, China Vleeschouwer, DiDi —, He's, they're Organizations: Service, China's, Business Locations: China, Shenzhen, Maryland, Roanoke , Virginia, San Antonio, Phoenix, Mexico, Beijing, Shanghai, India, Hong Kong, Philippines, Indonesia, Kenya, Southeast Asia, Arizona, They've
The annual challenge is a great example of ways kids can use digital tools "before, during and after" going outside to increase their connection to nature, says Galle. The point isn't to encourage kids to run around parks with screens in their faces, she notes: Rather, it's "an easy, educational way to get the kids outside, immersed in their environment, and learning something." EarthSnapThis nature identification app uses a smartphone or tablet's camera to identify more than two million different plants, animals, bugs and other aspects of nature. Tools like EarthSnap are useful for nurturing kids' interest in nature, especially if you aren't an expert outdoorsperson yourself, says Galle. Try using the app as a family, Galle advises: Kids often learn behaviors from their parents.
Persons: Nadina, , NatureQuant Organizations: CNBC, Agents Locations: Nadina Galle, Our, Galle, who's
The Louisiana secretary of state has ordered that the congressional map be finalized by May 15. Even so, they said, it was evident that creating a second district with a majority of Black voters was lawmakers’ overarching objective. But in the map drawn by the Republican-controlled Legislature, only one of the six congressional districts had a majority Black population. The ruling reaffirmed the Voting Rights Act of 1965, which had been diminished over the years by the court’s conservative majority. Critics of Tuesday’s ruling argued that the repercussions in Louisiana could extend beyond a single election, or even partisan divisions.
Persons: , Critics, Eric H, Holder Jr, Liz Murrill, “ I’ve, , David C, Joseph, Robert R, , Carl E, Stewart, , Tuesday’s, Ashley Shelton, Ms, Shelton Organizations: Black, U.S . Constitution, National Democratic, Republican, U.S, Supreme, . Constitution, State Legislature, Lawmakers, U.S ., Appeals, Fifth Circuit, American, Western, Western District of, Louisiana Legislature, voters, Power Coalition for Equity, Justice Locations: Louisiana, U.S ., ., Baton Rouge, Shreveport, Western District, Western District of Louisiana, Black, U.S
IQAir's air quality report ranked the world's most and least polluted areas. The report revealed 92.5% of countries and only 9% of cities met WHO's PM2.5 guidelines in 2023. AdvertisementSwiss company IQAir ranked the most and least polluted countries and cities in the world in a recent air quality report. And only 9% of cities surveyed achieved WHO's guidelines of acceptable PM2.5 levels in 2023. Meanwhile, cities in California, Georgia, and Iowa were named the most polluted, as shown in the below ranking.
Persons: WHO's, , IQAir Organizations: Service, Business Locations: California , Georgia, Iowa, Swiss, Arizona , Nevada, Colorado
Strained Chinese cities struggle to pay home buying subsidies
  + stars: | 2024-04-30 | by ( ) www.cnbc.com   time to read: +2 min
Chinese cities have promised subsidies and other incentives to prop up the ailing property sector but have failed to deliver, frustrating potential homebuyers. The 30-year-old now pays 6,000 yuan of her 8,000 monthly salary on the mortgage for the 1.1 million yuan apartment and another 1,800 yuan to rent another one, relying on her parents for other basic expenses. Weifang, with a population of more than 9 million and an economy larger than Croatia's, and dozens of other Chinese cities, have promised subsidies and other incentives to homebuyers to prop up the ailing property sector. But the real estate downturn also affects the ability of cities to lease land to developers, a key revenue source. This meant some local governments were unable to raise funds to pay the promised subsidies, frustrating buyers and casting doubts over future support measures.
Persons: Amy Wang, Wang, Christopher Beddor, Gavekal Organizations: People's, Communist Party Locations: Hangzhou city, Zhejiang province, China, Weifang, Shangqiu
Ten years ago this week, The New York Times introduced the Upshot, a section devoted to explaining “politics, policy and everyday life.” That’s a wide scope, by design. As a result, more than 5,000 articles later, the Upshot has been many things to many readers. To mark our 10th birthday, we’ve collected 100 stories that embody the Upshot. WordleBot Eden Weingart/The New York Times When Wordle first became popular, several people on the internet claimed, plausibly, that they had come up with the “best” opening word. Force of Ship Impact Was on the Scale of a Rocket Launch Erin Schaff/The New York Times We think of the Upshot as a place where back-of-the-envelope calculations can be both helpful and welcome.
Persons: , Nate Cohn’s, we’ve, Kevin Quealy, John Branch, John, Patrick Thomas, tut, Trump, pollsters, Obamacare, Leif Parsons, We’re, Jason Henry, Tony Luong, Jordan, , Ruth Fremson, Laurel, ’ Rodrigo Corral, Alex Welsh, Paul Romer, Tim Enthoven, Barack Obama, epidemiologists, It’s, you’re, WordleBot Eden, Wordle, Lila Barth, McCabe, Tom Brady, ChatGPT, , Erin Schaff Organizations: New York Times, Facebook, Yankees, Red, State Newspaper, ESPN, The Athletic, The Times, You’re, Voters, Trump, Mr, Times, Siena College, Walmart, The New York Times, Jordan Siemens, Health, New, Nike, Democratic, Twitter, America, Iowa, Iowa Democratic, Cancer, Hit, Biden, Insurance, Roe America, Disorders, Republican, Republican Party of, U.S, Budget, NASA, National, Traffic, Administration, Yorkers, Force Locations: It’s, Red Sox, State, America, Dakota, Ireland, Chipotle, Japan, U.S, United States, Siena, New Pennsylvania, District, Iowa, Covid, York City, New York, Pennsylvania, Roe, Tonga, Arizona, York, Holland
Russian forces have razed dozens of towns and cities in Ukraine over the past 26 months — killing thousands of civilians, forcing millions from their homes and leaving a trail of destruction that is impossible to calculate. Cities and towns little known to the world have become the scorched-earth battlegrounds where two armies clashed for months to bloody effect before the Russians finally prevailed. Now Russian forces have set their sight on Chasiv Yar, a hilltop fortress town in eastern Ukraine. The campaign is part of an intense effort by Russia to achieve what could be its most operationally significant advance since the first summer of the war in 2022. That includes the headquarters of the Ukrainian eastern command in Kramatorsk.
Persons: Chasiv Yar Locations: Ukraine, Avdiivka . Cities, Russia, Donetsk, Ukrainian, Kramatorsk
Tractor Supply CEO Hal Lawton told CNBC's Jim Cramer on Thursday that a substantial number of Americans are moving out of cities, and many are headed to rural areas. "They've continued, albeit to a lesser absolute number, but net we're still seeing significant migration out of urban America, and most of that migration, or a lot of it, is going into rural America," Lawton said. Tractor Supply is a retail chain that sells equipment for home improvement, such as supplies for gardening and farming. Lawton told Cramer that the company has been dealing with business headwinds, with consumer spending trends swinging from goods to services. But he expressed optimism for the future, saying Tractor Supply can "begin to see light at the end of the tunnel now against those headwinds."
Persons: Hal Lawton, CNBC's Jim Cramer, Lawton, They've, Cramer Organizations: Tractor, Neighbor's Locations: America
A majority of the Supreme Court appeared inclined on Monday to uphold a series of local ordinances that allowed a small Oregon city to ban homeless people from sleeping or camping in public spaces. The justices seemed split along ideological lines in the case, which has sweeping implications for how the country deals with a growing homelessness crisis. In a lengthy and, at times, fiery argument that lasted over two and a half hours, questioning from the justices reflected the complexity of the homelessness debate. They wrestled with what lines could be drawn to regulate homelessness — and, crucially, who should make those rules. The conservative majority appeared sympathetic to arguments by the city of Grants Pass, Ore., that homelessness is a complicated issue best handled by local lawmakers and communities, not judges.
Locations: Oregon, Grants
Kate Boardman has visited 54 countries around the world and lived in 10, including the US. She's enjoyed spots like France and Bali but says people should visit underrated places like Oman. I've been to 54 countries and lived in 10, including the US. I also think spots like Cancun are super overrated; there are way cooler places to visit in Mexico. Kate Boardman/@wildkat.wandersI first lived in Guatemala in 2021, where I worked as a teacher at an international school.
Persons: Kate Boardman, She's, , I've, Boardman, It's, You've, they're, @wildkat.wanders, Kate Boardman There's, There's, you've, Earth Organizations: Service, Antigua —, United Arab Locations: France, Bali, Oman, Ecuador, Guatemala, Massachusetts, Germany, Tblisi , Georgia, Paris, London, Cancun, Mexico, Iran, Maharloo, Georgia, Tbilisi, It's, Soviet Union, Kazbegi , Georgia, Turkish, Central America, Costa Rica, Tikal, Guatemala City, Antigua, Boardman, Livingston , Guatemala, El, United Arab Emirates, Yemen, Muscat, Caribbean
Their friendship was tested in 2017 when then President Trump supported a blockade of Qatar led by Saudi Arabia and the United Arab Emirates. Before the Oct. 7 attack, the Saudis were in serious talks, led by the United States, to recognize Israel. 8 of 12 Israel has a major incentive to strengthen relations with Saudi Arabia. Saudi Arabia, for its part, would benefit from direct access to the Israeli military and technology sector. In March 2023, China brokered a breakthrough, re-establishing ties between two of the region’s heavyweights, Iran and Saudi Arabia.
Persons: Benjamin Netanyahu, brandished, Jake Sullivan, , frenemies, Israel, Netanyahu’s, Trump, Biden, Saudi Crown Prince Mohammed bin, Prince Mohammed, Bashar al, Assad, Saddam Hussein, Jordan —, hesitantly, Abraham Organizations: of Friends, General Assembly, U.S, America, Hamas, United, United Arab Emirates, Saudi Crown, Arab League, Saudi Arabia, Red Sea, Iranian, Abraham Accords, United Arab, Palestine Liberation Organization, West Bank, Palestinian Authority, The, Trump, Biden, Israel Defense Forces, United Nations, New York, Facebook Locations: India, Persian, Israel, Europe, Iran, United States, U.S, East, China, Russia, Ukraine, Syria, Yemen, Turkey Syria Lebanon Afghanistan Israel Iraq Iran Pakistan Egypt India Qatar Saudi Arabia Sudan Oman, Israel Yemen Turkey Syria Lebanon Afghanistan Israel Iraq Iran Pakistan Egypt India Qatar Saudi Arabia Arabian, Sudan, Sea Oman, Israel Yemen Ethiopia Turkey Syria Lebanon Afghanistan Israel Iraq Iran Pakistan Egypt India Qatar Saudi Arabia Arabian, Sudan Oman, Israel Yemen Ethiopia, Gaza, Qatar, Saudi Arabia, United Arab, Saudi, Tehran, Iraq, Assad, Lebanon, Lebanese, Egypt, Jordan, Bahrain, United Arab Emirates, Morocco, Fatah, Israeli, Turkey, America
That’s 270 million people living on sinking land. The impact of sinking is typically worse along the coasts, where the sea level is rising at the same time. “Most urban cities experience land subsidence, but we focus our attention on coastal cities because of sea level rise,” Ohenhen, who was not involved with the study, told CNN. The project prevents the need for over-pumping groundwater and has stopped land subsidence in Beijing, the study found. “I believe China’s government efforts will address the issue of land subsidence,” Tao said.
Persons: Wang, Shengli Tao, ” Tao, , , Leonard Ohenhen, ” Ohenhen, Tao Organizations: CNN, New, Reuters, Peking University, Virginia Tech Locations: China’s, China, New York City, Netherlands, Mexico City, Tianjin, Shanghai, Guangzhou, Beijing
Moving away from a major city, Moretti found, can be terrible for your career. The market for WFH jobs has cratered, putting everyone who moved away from big cities at risk. Those who moved away from big cities effectively gave up their career insurance. In a big city, you also run into people who work for other companies in your industry — on the bus, at the bar, in line at the deli. "The benefits of being a big city," Moretti tells me, "have been underappreciated" during the pandemic.
Persons: I've, , We've, Enrico Moretti, Moretti, Des Moines, they'll, they're overqualified, That's, Madison Hoff, Aki Ito Organizations: Franciscan, Census, University of California, Business Locations: New York, Los Angeles, San Francisco, Seattle, America's, Berkeley, Paris, Des, Iowa, California, Sacramento, Bay
That idea of guaranteed income is receiving renewed interest as AI becomes an increasing threat to Americans’ livelihoods. As more Americans’ jobs are increasingly at risk due to the threat of AI, Tubbs and other proponents of guaranteed income say this could be one solution to help provide a safety net and cushion the expected blow AI will have on the labor market. “Then, when we have to deal with that job displacement, we’re better positioned to do so.”Silicon Valley’s infatuation with guaranteed incomeThe idea of a guaranteed income is not new. AFP/Getty ImagesDecades after King’s death, the idea of guaranteed income went on to see a resurgence of support emanating out of Silicon Valley. Other tech industry tycoons, including Twitter co-founder Jack Dorsey, have also thrown immense financial support behind guaranteed income programs.
Persons: CNN — Michael Tubbs, Tubbs, , , ” Michael Tubbs, Nick Otto, ” Tubbs, Nathan Frandino, Let’s, Martin Luther King, Jr, I’m, ” King, King, Elon Musk, Mark Zuckerberg, Sam Altman —, Musk, Rishi Sunak, Zuckerberg, ” Altman, Altman, Sam Altman, Justin Sullivan, Elizabeth Rhodes, Jack Dorsey, Dorsey, Ken Paxton, ” Paxton, overreach, ‘ It’s, ’ Tomas Vargas Jr, Vargas, I’ve, that’s, ” Tomas Vargas Jr, Tomas Vargas Jr, ” Vargas Organizations: CNN, Getty, Global, Monetary Fund, Reuters, Stockton, Civil Rights, Washington DC, Elon, , UK, Harvard, Facebook, YCombinator, Twitter, UPS Locations: Stockton , California, Silicon Valley, Big, America, Stockton, AFP, San Joaquin, U.S, Washington, Alaska, YCombinator, San Francisco , California, United States, Texas, Harris, Harris County
CNBC's Cities of Success Denver, Boulder: Tech is booming
  + stars: | 2024-04-11 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCNBC's Cities of Success Denver, Boulder: Tech is boomingCNBC's Carl Quintanilla reports on the latest installment of Cities of Success.
Persons: Carl Quintanilla Organizations: CNBC's, Tech Locations: Success Denver, Boulder
Some towns and cities want people to move there so badly that they give things away for free. Some places are offering property to free homes or land. Here's a list of cities across the country that give free property to movers. According to the latest data from the Realtors' Land Institute, sales of American land increased 1.2% from 2022 to 2023, while its cost jumped 1.9%. Perks range from $10,000 cash, like in Tulsa, to free childcare and access to coworking spaces.
Persons: Organizations: Service, Realtors, Land Institute, Business Locations: Tulsa
Some cities in the US try to lure people to move there by giving away property for free. In some spots, land is given for free, but the recipient is responsible for building a home. Here's a list of cities across the country that give free property to movers. Some towns, meanwhile, are offering movers land or entire homes at low or no cost. Here are a few places across the country that are offering land or property to movers.
Persons: , they're Organizations: Service, Realtors, Land Institute Locations: Tulsa, In Kansas, Iowa
“She bought some beautiful antique jewelry, museum-quality jewelry.”Orange County, California, prosecutors allege a group of thieves hid in the hillside adjoining the Starr’s home, watched them leave with visiting relatives, and made their move. “They came over our fence, they broke through a window in the upper bedroom and came through that window,” Jeff Starr told CNN. When the suspects arrive – most often from South America, prosecutors say – they join sophisticated burglary rings that prey on luxury homes. They have WiFi jammers to stop the alarm company from being notified.”Some of the burglary suspects have used ghillie suits, like the one seen here, to camouflage their movements. Ventura County, California, alone attributed 175 residential burglaries to “transnational theft groups” between 2019 and mid-2023.
Persons: Orange County , California CNN — Carol, Jeff Starr, ” Carol Starr, , , Carol Starr, , Todd Spitzer, Spitzer, Jeff Walther, “ I’m, ” Walther, South America Rama, Balakrishna Sundar, ” Rama Sundar, , Jae C, “ They’re Organizations: Orange County , California CNN, CNN, ” Prosecutors, Department of Homeland, ” Scottsdale Police, Department, Homeland, DHS, US State Department Locations: Orange County , California, Southern California, Carol’s, United States, South America, Orange County, Chile, California, Scottsdale , Arizona, Baltimore , Maryland, Raleigh , North Carolina, Nassau County , New York, Ventura County , California, Scottsdale, Arizona, Dana Point , California, Santa Ana , California, Chilean, Washington
Hualien, Taiwan CNN —Wu was preparing breakfast for guests at the small hotel he runs in Taiwan’s Hualien County when the shelves around him shook violently and the mountain behind his house roared. “It’s not too bad.”Video Ad Feedback Rescue efforts underway in Taiwan after deadly earthquake 02:54 - Source: CNNA checkpoint is set up outside Taroko Gorge just north of Hualien city in Taiwan. Yan Zhao/AFP/Getty ImagesWorkers demolish a damaged building following the earthquake in Hualien County, Taiwan on April 4, 2024. Annabelle Chih/Getty ImagesTaiwan’s recent push for preparedness comes from the hard lessons learned from the devastating quake 25 years ago, experts say. That quake left more than 100,000 buildings across Taiwan completely or partially collapsed, including nearly 300 schools.
Persons: Taiwan CNN — Wu, Wu, , , It’s, Annabelle Chih, Chong, “ I’ve, Hualien . Yan Zhao, Tyrone Siu, Daniel Aldrich, Sam Yeh, Aldrich, ” Aldrich, “ They’ve, , Wei Chia, Wei Organizations: Taiwan CNN, CNN, , Getty, Workers, Reuters, Northeastern University Locations: Hualien, Taiwan, Taiwan’s Hualien County, Taroko, Hiroshima, Hong Kong, Shanghai, , Hualien . Yan, AFP, Hualien County, Haiti, India, China, Taipei
The first total solar eclipse in the US since 2017 is sure to be astonishing, weather permitting. The US won't get to experience totality again for 20 yearsThe 2017 total solar eclipse at 100% totality. Advertisement"He said, 'Before you die, you owe it to yourself to see a total solar eclipse,'" Baron recalled Pasachoff saying to him 30 years ago. You might be able to spot it during the total solar eclipse. AdvertisementWatch safelyMake sure to protect your eyes by wearing solar eclipse glasses, or finding alternative ways to watch the eclipse without looking directly at the sun.
Persons: , John Finney, David Baron, he's, Jay Pasachoff, Baron, Pasachoff, Fred Espenak, Eclipse, He's, Espenak, 12P, Pons, Brooks, a.k.a, Everest, humbling, Mohamed Nureldin Abdallah Organizations: Service, Business, US, Great Locations: Texas, Maine, Aruba, — Texas, Oklahoma , Arkansas, Illinois
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