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☆ An Incredible New Housing Map Could Help Bring Down Home Prices
▼ + stars: | 2024-02-21 | by ( Adam Rogers | ) www.businessinsider.com time to read: +9 min

Which means there are more than 30,000 different sets of zoning rules in America. AdvertisementFor the first time, a team of researchers is compiling every city's zoning rules into a National Zoning Atlas. Cities and towns in both states, they could see, penalize or outright prohibit duplexes and other forms of housing that bring down prices and help prevent urban sprawl. Enacting a more permissive set of zoning rules gave everyone something they wanted. "The state of California has been passing zoning change after zoning change," Freemark says, "but it's still facing low housing construction statewide."

Persons: you've, nix, we'll, Sara Bronin, It's, Bronin, we'd, Kendall Cotton, Lefty, Cotton, Montana, Yonah Freemark, Freemark, Italo, Marco Polo, Kublai Khan, Polo Organizations: America, Zoning, Cornell University, Big Sky, California ., Urban Institute Locations: America, we're, Milford , Connecticut, Montana, California, California . Cities, Los Angeles, Missoula, LA

☆ Homeownership gap between Black and White owners is worse now than a decade ago
▼ + stars: | 2024-02-20 | by ( Anna Bahney | ) edition.cnn.com time to read: +6 min

The Black homeownership rate saw a modest annual uptick to 44.1% in 2022 from 44% in 2021, but remains significantly behind the White homeownership rate of 72%, the report found. A stubborn racial homeownership gapEven with some improvement in the Black homeownership rate, the change has done little to close the yawning gap between Black and White homeownership. Over the past decade, the gap between the two groups’ homeownership rates has worsened, expanding from 27 points to 28 points. Other states with high Black homeownership rates include South Carolina and Delaware, each at 55%. Plus, the median household income for Black Americans was $47,800 in 2022, while the median income for White Americans was $75,700.

Persons: Sharan White, Jenkins, “, ”, ” White, Black, homeownership, Jessica Lautz, Black homebuyers, ” Lautz Organizations: DC CNN, National Association of Realtors, American, Survey, Census Bureau, NAR, Joint Center for Housing Studies of Harvard University, Black, White Locations: Washington, Jamaica, Queens, New York City, Virginia, Brooklyn, Queens , New York, Wyoming, North Dakota, Mississippi, Black, South Carolina, Delaware

☆ Renters facing eviction have a higher risk of death, and mortality surged during Covid-19 pandemic, study finds
▼ + stars: | 2024-02-20 | by ( Deidre Mcphillips | ) edition.cnn.com time to read: +8 min

The general population also experienced excess mortality during this time, but the risk started higher for renters and rose exponentially for those threatened with eviction. From January 2020 through August 2021, the risk of death for renters facing eviction was 2.6 times greater than it was in the general population, the study found. During the baseline period of 2010 to 2016, the mortality rate was 1.4 times higher for renters facing eviction than it was for the general population. Another study from December explored the risk between rising rent costs and mortality risk. Eviction filings were down 45% during the first two years of the pandemic, according to the new study.

Persons: ”, Nick Graetz, it’s, It’s, Jack Tsai, ” Graetz, Katie Derrick, Jesse Tree, Derrick, Tsai, moratoriums –, Jesse, “, Dr, Sanjay Gupta, Steven Furr, we’re, Furr, what’s, ” Tsai Organizations: CNN, Census, UTHealth Houston School of Public Health, US Department of Veterans Affairs ’, Homelessness, ”, CNN Health, American Academy of Family Physicians, “ Locations: Princeton, United States, Boise , Idaho, Jesse Tree, Idaho, Alabama

☆ A Nerve Center for the Right Wing Rises in Washington
▼ + stars: | 2024-02-20 | by ( Robert Draper | ) www.nytimes.com time to read: +1 min

In the lobby of the grand Biltmore Hotel in Coral Gables, Fla., where a sprawling new force in Washington’s right-wing ecosystem, the Conservative Partnership Institute, was holding its winter conference, the former Trump legal adviser Cleta Mitchell was exultant. “Did you hear the ‘War Room’ today? Bannon was on fire!” she said to a friend. She was referring to the podcast hosted by Stephen K. Bannon, the former Trump White House senior adviser who had been condemning Republican senators for supporting billions of dollars in aid to Ukraine and Israel earlier that day. Ms. Mitchell was among some 150 conservative donors and activists who gathered in Coral Gables earlier this month to celebrate the ascendancy of a group that has become a well-paying sinecure for Trump allies and an incubator for the policies the former president could pursue if elected.

Persons: Trump, Cleta Mitchell, Bannon, Stephen K, Mitchell, Ben Carson, Byron Donalds, Florida — Organizations: Conservative Partnership Institute, Trump White House, Trump, Housing, Urban Development Locations: Coral Gables, Fla, Washington’s, “, Ukraine, Israel, Florida

☆ Why it’s so hard to find an apartment you can afford
▼ + stars: | 2024-02-19 | by ( Anna Bahney | ) edition.cnn.com time to read: +7 min

Washington, DC CNN —Finding a new apartment to rent can be a slog. In New York City, the rental vacancy rate, which is the share of habitable unoccupied units, has dropped to a record low 1.4%. In Boston, the rental vacancy rate was a very tight 2.6% at the end of last year, according to the Census Bureau. However, the most recent vacancy rate is also lower than the more typical 3.6% from prior to the pandemic. In the fourth quarter of 2023, the rental vacancy rate was 6.6%.

Persons: Maria Torres, ”, Orphe Divounguy, “, that’s, Lawrence Yun, Yun Organizations: DC CNN, New York City Department of Housing Preservation, Development, Census, New York City, Springer, Real Estate Investment Services, Joint Center for Housing Studies of Harvard University, National Association of Realtors Locations: Washington, Northeastern, New York, Boston, New York City, Yorker, Manhattan, Northeast, Southern, Austin , Texas

☆ Austin gave people $1,000 a month with no strings attached. One participant said the money helped her get by — but she's still struggling to get housed.
▼ + stars: | 2024-02-15 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +10 min

As a participant in the Austin Guaranteed Income Pilot , she received $1,000 monthly for a year between August 2022 and August 2023 to help her “survive more comfortably,” she said. Though, the program didn’t fix all her issues and she hasn’t gotten back on her feet after losing her job. AdvertisementThe Austin program and a new program in Harris County , home to Houston, have been met with resistance from politicians who allege these programs are unconstitutional. Joining the Austin Basic Income PilotNairns said she learned about the Austin Basic Income Pilot through another organization called the Austin Area Urban League, which helps low-income families. While still receiving payments, she was laid off at Austin Mutual Aid, losing her housing and car the same day.

Persons: —, Jessica Nairns, She’s, ”, hasn’t, ” Nairns, “, Austin, Ivanna Neri, Neri, ” Neri, Nairns, wasn’t, “ I’m Organizations: Service, Business, Austin, Urban Institute, Austin Mutual Aid, Austin Area Urban League, ” Locations: Austin, City of Austin, Texas, UpTogether, Washington, DC, Harris County, Houston, Dallas, Ohio

☆ It's even harder to find an apartment in Syracuse than in the New York City area — and it's a sign the housing crisis is far from over
▼ + stars: | 2024-02-15 | by ( Eliza Relman | ) www.businessinsider.com time to read: +1 min

Rental housing markets across the country have become increasingly unaffordable and competitive. Syracuse, New York is the most competitive rental market in the US, according to a new report. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementIt's widely known that coastal regions like the New York City metro and the San Francisco Bay area have some of the most expensive and competitive housing markets in the country. But housing markets across the country, even in places that were long affordable, aren't building enough new housing and have severe home shortages.

Persons: —, that's Organizations: Service, New, San, Business Locations: Syracuse , New York, New York City, San Francisco Bay

☆ Investors bought a record 26% of the affordable houses in the US last quarter
▼ + stars: | 2024-02-15 | by ( Yuheng Zhan | ) www.businessinsider.com time to read: +3 min

US property investors snapped up 26.1% of low-priced homes in the fourth quarter, a record share. Single-family homes accounted for more than two-thirds of investors' purchases in Q4, at 68.6%. Zooming in, low-priced homes accounted for 46.5% of investor purchases, with mid-priced homes at 24.6% and high-priced homes at 28.8%. Inventory is still low across the country as sellers cling to lower mortgage rates they locked in years ago. It's worth noting though that big institutions make up a small percentage of investors in the market buying homes.

Persons: —, Redfin, Carrie Caruthers, Sheharyar Organizations: Service, Department of Housing, Urban Development Locations: California

☆ Home Prices May Be Sky-High, but America Is Not in a Housing Bubble
▼ + stars: | 2024-02-14 | by ( James Rodriguez | ) www.businessinsider.com time to read: +12 min

The housing market, they claimed, was a bubble destined to burst. I’ve spent the past few years asking experts a simple question: Has the housing market reached bubble territory? AdvertisementFor a time, it seemed like the housing market was doing a speedrun through Simonsen’s checklist. And even if the economy does take a turn, a run-of-the-mill recession probably wouldn’t be enough to topple the housing market. The housing market is far from balanced, but we’re at least heading in that direction.

Persons: doomsayers, I’ve, Redfin, you’ve, you’ll, Mike Simonsen, megalandlords, ”, Ian Shepherdson, Goldman Sachs, Jerome Powell, Powell, Rick Palacios Jr, John Burns, ” doomsayers, might’ve, It’s, it’s, Logan Mohtashami, don’t, US homebuilders, “ It’s, ” Mohtashami, Selma Hepp, Fannie Mae, Palacios, ” Palacios, Mohtashami Organizations: Altos Research, Wall, John, John Burns Research, Consulting, Mortgage Bankers Association, Federal Reserve Bank of New, Federal Housing Finance Agency Locations: Charlotte, North Carolina, Austin, Las Vegas, Miami, Boise , Idaho, Dallas, Federal Reserve Bank of New York, US

In 2004, voters approved legislation that imposed a tax on millionaires to finance mental health services, generating $2 billion to $3 billion in revenue each year that has mostly gone to counties to fund mental health programs as they see fit under broad guidelines. San Francisco Mayor London Breed said she supports the measure. The 14-year-old center with a mission of breaking the cycle of trauma in the Black community relies heavily on mental health funding from the county. The state needs some 8,000 more beds to treat mental health and addiction issues, according to researchers who testified before state lawmakers last year. “From a humanitarian and civil rights perspective, we vehemently oppose Proposition 1,” said Mark Salazar, executive director of Mental Health Association of San Francisco, which serves more than 15,000 people monthly.

Persons: Gavin Newsom, Newsom, San Francisco Mayor London Breed, Tiffany McCarter, —, McCarter, “, ” McCarter, haven't, ”, Mark Salazar, ” Mark Cloutier, Joe Wilson, Anthony Hardnett, “ You’ve, ” Hardnett, ” Kalkowski, “ I’ve Organizations: — Democratic, — Democratic California Gov, San Francisco Mayor London, Cultural Center, Democratic, University of San, Housing Initiative, Mental Health Association of San, House, Sixth, 6th Street Center, Youth Locations: OROVILLE, Calif, — Democratic California, Butte, San Francisco, Butte County, Oroville, California, United States, Mental Health Association of San Francisco, Tenderloin, Chico

☆ A fight over sewage is preventing Long Island from solving its crippling housing crisis
▼ + stars: | 2024-02-14 | by ( Eliza Relman | ) www.businessinsider.com time to read: +9 min

The people of Suffolk County, Long Island, need to start considering it. Like most of the suburbs surrounding New York City, Suffolk County is suffering from a major shortage of homes. In December, New York Governor Kathy Hochul announced she'll send $59 million to Long Island to deal with water contamination and sewer upgrades. “The governor has said she wants to see more housing on Long Island. Last year, Long Island public officials led the charge against Gov.

Persons: —, Hunter Gross, “, ” Gross, Long, Suffolk County’s, Ed Romaine, Kathy Hochul, you’ve, ”, Joe, Edmund Smyth, ” Smyth, ” Long, Kathy Hochul’s, who’ve, boomers, can’t, that's, Ian Wilder, Nathan Cummings, ” Cummings, Cummings Organizations: Service, Hamptons, Business, Newsday, Republican, ” Long Islanders, Gov, New, Housing Services, Yale Law Locations: Suffolk County, Long, New York City, Huntington, Suffolk, New York, Huntington , Suffolk County, Levittown, Black, Old Lyme , Connecticut

☆ Why Reparations For Slavery Are Long Overdue - The New York Times
▼ + stars: | 2024-02-13 | by ( Maura Cheeks | ) www.nytimes.com time to read: +3 min

In my debut novel, a family retraces their lineage in order to be eligible for the nation’s first federal reparations program for Black Americans. The idea that the United States could ever collectively support a national reparations policy for Black people seemed, well, the stuff of fiction. Since then, reparations task forces and commissions have been created in California, Illinois, New York and Pennsylvania. To address systemic inequalities rooted in federal law, a federal reparations policy is required. I decided to write about reparations after researching the racial wealth gap, the statistics of which continue to paint a picture of widespread systemic failure.

Persons: Jim Crow Organizations: Black Americans, Consumer Finances, National Association of Realtors, White Americans, White Locations: Evanston, Ill, United States, California , Illinois, New York, Pennsylvania, State

☆ Opinion: How to solve the nation’s affordable housing crisis
▼ + stars: | 2024-02-12 | by ( Opinion Jim Parrott | Mark Zandi | ) edition.cnn.com time to read: +7 min

Not only has that made mortgages much more expensive, it’s exacerbated the long-standing shortage in housing supply, particularly at the lower-priced part of the market. The market machinery that cranks out housing supply at the bottom of the market has effectively ground to a halt. But falling rates will not solve the underlying structural problems that caused the housing shortfall in the first place. Once rates normalize, housing affordability will simply return to where we were prior to the pandemic, going from dismal to just bad. Lawmakers should complement this support to increase the supply of housing with targeted help for those looking to buy their first home.

Persons: Jim Parrott, Parrott Ryan, Mark Zandi, Jim Parrott Ella Parrott, Mark Zandi Moody's, it’s Organizations: Urban Institute, Moody’s, CNN, National Association of Realtors, Congress

☆ Opinion | ‘An Incoherent Riot’: Why London’s Skyline Looks So Weird
▼ + stars: | 2024-02-12 | by ( Peter Coy | ) www.nytimes.com time to read: +1 min

London has a jarring profusion of odd skyscrapers with funny names or nicknames. Cheshire and Christian Hilber, also of the London School of Economics, advanced the starchitect argument in an article way back in 2008. Last year, Cheshire included the starchitect idea in an article for a policy journal of the U.S. Department of Housing and Urban Development. Land-use decisions in Britain are mainly discretionary rather than rules-based, as in, for example, Chicago, Cheshire noted in his article last year. The elected committees that decide on applications in London are unpredictable and can be swayed by lobbying, he wrote.

Persons: Paul Cheshire, Christian Hilber, Gerard Dericks Organizations: London, Guardian, London School of Economics, Political Science, University of Oxford, U.S . Department of Housing, Urban Locations: London, Cheshire, Britain, Chicago

☆ Spring homebuying and selling season just kicked off. Are you ready?
▼ + stars: | 2024-02-11 | by ( Anna Bahney | ) edition.cnn.com time to read: +9 min

So if you’re planning to be in the market this year, here’s what to expect this spring — and how to be ready to pounce. Don’t wait for better prices or ratesLast year was the least affordable housing market since the 1980’s as mortgage rates spiked to 23-year highs at the end of October. But a slightly brighter season is dawning this spring. This spring is offering a bit of rate and price stability said Betty Jans, an Annapolis, Maryland-based real estate agent. “If you wait, and all of the sudden we have a little dip in rates, you’re going to be competing with everyone else that wants to buy then, too,” Jans said.

Persons: it’s, Fannie Mae, Betty Jans, Tiffany Hagler, homebuyers, ”, Jans, Berkshire Hathaway, PenFed, ” Jans, “, Mike Mravca, Mravca, ” Mravca, “ I’ve, Hillary Nash, Nash, “ It’s, you’re Organizations: Washington CNN, NFL, Super, Geard, Bloomberg, Getty, Berkshire, Taylor Properties, NAR, District of Columbia, of Housing, Urban Development, National Housing Conference Locations: Annapolis , Maryland, Larchmont , New York, Virginia , Maryland, Delaware, Washington, Washington , DC, Maryland, Virginia

☆ Israel’s repudiation of a deal with Hamas draws fury from hostages’ families
▼ + stars: | 2024-02-09 | by ( Ivana Kottasová | ) edition.cnn.com time to read: +10 min

Survivors of the October 7 terror attack and the families of hostages were furious at the uncompromising repudiation of a deal that – ultimately – could have resulted in the return of all the remaining hostages in Gaza. Moshe’s words carried power – she was kidnapped by Hamas from Kibbutz Nir Oz and held hostage in Gaza for seven weeks. The families of the hostages held in Gaza have emerged as a leading voice and they attract huge support among Israelis. Protesters demand a hostage deal amid the ongoing conflict between Israel and Hamas, in a demonstration in Tel Aviv, Israel, on February 1, 2024. These anti-government protests are still strictly separate from the hostage families’ events, which tend to take place just down the road at what has become known as the Hostage Plaza.

Persons: Benjamin Netanyahu, “, ” Netanyahu, –, Adina Moshe, Netanyahu, Sahar Kalderon, Aviva Siegel, Nili Margalit, Sharon Aloni Cunio, Susana Vera, I’m, ” Moshe, Nir Oz, David, Sa’id, Moshe, Lital Shochat, Shochat, ‘, Shochat Chertow, Shiva, ”, Doron Shabtai, Shabtai, Ivana Kottasova, Yair Lapid, ” “, Bibi ”, Evyatar Cohen, … Organizations: Tel, Tel Aviv CNN, State, Wednesday, Reuters, Protesters, Israel Democracy HQ, Hamas, CNN, Israeli, Yesh Locations: Tel Aviv, Israel, Gaza, Sderot, Jerusalem, Israel’s, Lebanon

☆ As homelessness spikes nationwide, at least 4 major cities have found ways to get people off the streets
▼ + stars: | 2024-02-08 | by ( Allie Kelly | Eliza Relman | ) www.businessinsider.com time to read: +4 min

Plans that strengthen infrastructure for temporary and permanent affordable housing, and increase local support for demographics most vulnerable to homelessness, were consistently successful. Building paths to permanent housing in those cities improved overall housing access, researchers said. But Seattle has higher rates of unsheltered homelessness, so resources were better directed to building more temporary housing options. Chicago and New York have seen longer-term success in reducing homelessness, but both saw a spike between 2022 and 2023. The main driver of homelessness is the severe housing shortage across the country, so the most fundamental solution is creating more affordable housing.

Persons: There's Organizations: Brookings Institution, Department of Housing, Urban, Seattle, Brookings Locations: Chicago, New York, Seattle, Philadelphia, Los Angeles , Oregon, New Jersey

☆ New York Reimagined Subsidized Housing. What Happened?
▼ + stars: | 2024-02-07 | by ( Michael Kimmelman | ) www.nytimes.com time to read: +1 min

This story is from Headway, an initiative from The New York Times exploring the world’s challenges through the lens of progress. “A beacon.”That was how Shaun Donovan, former commissioner of New York City’s Department of Housing Preservation and Development, heralded Via Verde, the South Bronx development, in 2011. Construction was nearly done at the time, and I chose Via Verde for the subject of my first column as The New York Times’s architecture critic. Most important, its goal was larger than itself: to reimagine subsidized housing for a new century. Engineers, solar experts, community groups, architectural organizations as well as the New York City Council pulled in unison.

Persons: what’s, Shaun Donovan Organizations: The New York Times, New York City’s Department of Housing Preservation, Via Verde, Guggenheim, Bloomberg, . Engineers, New, New York City Council Locations: New, Via Verde, Bronx, York, Paris, New York, grumbled

The number of affordable units — with rents under $600 — also dropped to 7.2 million that year, 2.1 million fewer than a decade earlier. Photos You Should See View All 45 ImagesThose factors contributed to a dramatic rise in eviction filings and a record number of people becoming homeless. "It just hits you like, ‘This is for nothing.’"In Auburn, Massachusetts, pervasive rent hikes have already hit the last bastion of affordable housing. Just off an interstate alongside a pond, residents at the American Mobile Home Park face rent increases upwards of 40%. The group Lawyers For Civil Rights has sent a letter to the landlord accusing it of “unconscionable rent increases," and failing to provide critical services like adequate garbage and snow removal.

Persons: Caitlyn Colbert, Colbert, “, ”, —, Whitney Airgood, Obrycki, ” Colbert, haven’t, Amy Case, Ann Urbanovitch, Zach Neumann, Monique Gant, Gant, Nick Graetz, ” Graetz, Chris Herbert, Jared Polis, ___ Casey, ___ Organizations: DENVER, Harvard Joint Center for Housing Studies, Harvard, Habitat, Humanity, American Mobile, Civil Rights, Associated Press, Colorado Judicial, Community Economic Defense, Princeton, ”, Colorado Gov, America Statehouse News Initiative, America Locations: Denver, U.S, ”, Auburn , Massachusetts, Colorado, Washington, Massachusetts, Boston

☆ Opinion | As Nevada’s Middle-Class Dream Is Tested, So Is Biden’s Message
▼ + stars: | 2024-02-06 | by ( Mara Gay | ) www.nytimes.com time to read: +1 min

To many Americans, Las Vegas is a burst of glittering hotels and seedy wedding chapels, a mirage-like city rising improbably from the Mojave Desert. The Americans who live in Las Vegas know the city as a destination for the middle class: Valets and cocktail waitresses become homeowners. Lately though, Las Vegas — like much of the United States — has become more expensive. People from California and other expensive states are moving to Nevada, driving up home prices even further. Though they have dipped slightly over the past year, rents in Las Vegas are still roughly 35 percent higher than in December 2019, before the pandemic, according to data from Zillow.

Persons: United States —, Carl Singleton, Singleton Organizations: Immigrants, Workers, Las, United, Mint, Hotel Locations: Vegas, Las Vegas, United States, California, Nevada, Zillow, Louisiana

NEW YORK (AP) — In announcing 70 arrests, a federal prosecutor said Tuesday that the largest public housing authority in the nation was infested by a “classic pay-to-play” culture of corruption that dispensed repair jobs valued at under $10,000 to contractors willing to pay bribes. Bribery and extortion charges led to a roundup of current and former employees of the New York City Housing Authority that represented the largest single-day bribery takedown in the history of the U.S. Justice Department, Williams said. Photos You Should See View All 45 Images“If the contactors didn’t pay up, the defendants wouldn’t give them the work. The city's public housing authority receives over $1.5 billion in federal funding from the U.S. Department of Housing and Urban Development each year. Some defendants, authorities said, demanded even greater amounts of money in return for using their discretion to favor one contractor over another.

Persons: —, Damian Williams, Williams, ” Organizations: Yorkers, New, New York City Housing Authority, U.S . Justice Department, U.S . Department of Housing, Urban Development Locations: New York City, ”, New York , New Jersey , Connecticut, North Carolina

☆ The Florida city with cheaper homes and fun perks luring residents from Miami and New York
▼ + stars: | 2024-02-06 | by ( Jordan Pandy | ) www.businessinsider.com time to read: +6 min

About 730,000 people moved to Florida between July 2021 and July 2022, according to the latest census data available. The typical mover to Florida is not a baby boomer, but a millennial or a Gen Xer from New York and California, according to Business Insider's Noah Sheidlower. "When it comes to people who can't get a starter home in South Florida, they're coming to Orlando," Smith said. "But if you move to Orlando, Florida, with $750,000 or $800,000, you're like, 'I get a yard? AdvertisementMore than 140,000 of the nearly 739,000 people who moved to Florida between 2021 and 2022 came from California and New York , according to Census data.

Persons: —, Noah Sheidlower, Freddie Smith, Shay Walker, Smith, Redfin, Orlando, jodi jacobson, Jenna Clark, Mark Kaley, Joe Raedle Organizations: Service, Business, Orlando, Walt Disney, University of Florida's, Economic, Business Research, Insurance, Disney, Census Bureau, Department of Housing, Urban Locations: Florida, New York, California, Cities, South Florida, Miami, Fort Lauderdale, Orlando, Los Angeles, Orange County, New York City, Central Florida, Orlando , Florida

☆ China's economy is at risk of a brutal 'debt-deflation spiral'
▼ + stars: | 2024-02-06 | by ( Phil Rosen | ) www.businessinsider.com time to read: +4 min

China's economy has crawled out of the pandemic far below the pace of what most analysts expected, and if policymakers don't step in with sufficient support in 2024, a "debt-deflation spiral" could ensue. Deflation and falling stocksThe researchers said China's leadership has failed to address the lopsided supply and demand dynamics in particular. Meanwhile, deflation has crushed corporate earnings and stock prices in China, as well as wage growth and tax revenues. Nominal GDP grew at 4.6% in 2023, 0.6 points below real growth. "The economy could fall into a debt-deflation spiral without adequate policy support."

Persons: Gene Ma, Phoebe Feng, Ma, Feng, Banks Organizations: Wall Street, Institute of International Finance, CSI, People's Bank of Locations: China, Beijing, People's Bank of China

☆ A TikToker bought a $26,000 foldable house on impulse — and has absolutely no regrets
▼ + stars: | 2024-02-04 | by ( Jordan Hart | ) www.businessinsider.com time to read: +3 min

He ordered the house on Amazon, and his videos detailing the process gained nearly 20 million views. "I didn't even let him finish unboxing the house," Bryant said. The 19-by-20 unit is an investment opportunity, and he had "an automatic vision for it," Bryant told Business Insider. Chery IndustrialIt was delivered as a cube basically the size of its bathroom, Bryant told BI. But, he worked with an Amazon specialist to receive it on Monday — right on schedule.

Persons: Jeffrey Bryant, Bryant, —, TikToker Jeffrey Bryant, he's Organizations: Service, Amazon, Chery, Chery Industrial, Bryant, The California Department of Housing, Community Development

WHAT ARE LOCAL ‘CRIME-FREE’ OR ‘NUISANCE’ ORDINANCES? Photos You Should See View All 45 ImagesAnti-crime and nuisance ordinances have been around for years and are widespread in their usage. More than 2,000 cities nationwide have enacted such policies since the 1990s, according to the Chicago-based Shriver Center on Poverty Law. Critical studies and lawsuits indicate enforcement of nuisance laws frequently occur in poorer neighborhoods and communities of color. Other area cities have rewritten their ordinances, including Faribault in 2022 as it agreed to pay $685,000 to settle a federal lawsuit over the law.

Persons: ”, Corey Bernstein, Devon Orland, “ We’ve, ” Orland, Louis, ___ Hanna Organizations: U.S . Department of Justice, Shriver, Poverty Law, Crime Free Association, DOJ, Housing, National Disability Rights, American Civil Liberties Union, New, New York Civil Liberties Union, U.S . Department of Housing, Urban Development, Louis Park Locations: Minneapolis, Chicago, Anoka , Minnesota, Hesperia , California, Georgia, New York, Rochester, Troy , New York, Peoria , Illinois, Cleveland, Los Angeles, Philadelphia, Norristown , Pennsylvania, Maryland, California, Illinois, California , Illinois , Ohio, Pennsylvania, Golden Valley, St, Bloomington, Faribault, Topeka , Kansas

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