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The Price Is Wrong for Housing
  + stars: | 2023-11-28 | by ( Justin Lahart | ) www.wsj.com   time to read: 1 min
October’s existing home sales report details the current state of the all-important U.S. housing market and how Americans reacted to mortgage rates that have declined, but still remain much higher than they have been in more than a decade. Photo:Lower rates would make U.S. houses more affordable, just not affordable enough. The pandemic set off a flurry of demand for housing. Americans’ newfound desire for space, the padding of U.S. household finances from government relief checks, and sub-3% mortgage rates were a potent mix that sent home prices skyward. Now the buying frenzy has passed and, with mortgage rates at their highest levels in over 20 years, not many homes are getting sold at all.
Persons: WSJ’s Dion Rabouin
On July 26, 2020, Villegas and wife Maria’s 22-month-old daughter Mia died following a four-month battle with tumors on the brain and spine. “She was a very little kid, full of energy, and everything seemed to be going in the perfect direction,” Villegas told CNN Sport’s Patrick Snell. Rob Carr/Getty ImagesFront row seatSlowly, but surely, momentum began to change for Villegas, “a little snowball” gathering speed and size. Mia’s Miracles was flourishing under Maria’s presidency, Villegas was back competing at PGA Tour events and then, in December 2021, the greatest boost yet. No surprises as to which foundation Villegas directed the donation towards.
Persons: Camilo Villegas, “ Mia, Villegas, Maria’s, Mia, ” Villegas, CNN Sport’s Patrick Snell, , , putts, , ’ ”, Phil Mickelson, Andy Lyons, Miami’s, Jack Nicklaus, Barbara, Maria, that’s, “ It’s, ” Maria, Rob Carr, Mateo, , – Villegas, Sweden’s Alex Noren, Ross Kinnaird, Mia –, she’s, we’ve, RSM Birdies, Love, “ We’ve, We’ll Organizations: CNN, PGA, Bermuda, Nationwide Children’s, FedEx St Jude, Miami’s Nicklaus Children’s, Health Care Foundation, Getty, Port Royal, RSM Locations: Ohio, Charlotte , North Carolina, Bermuda
Golf plays on a different axis in the “Land of the Midnight Sun,” and nowhere is that difference more pronounced than at Tromsø golf club, the world’s northernmost 18-hole golf course. Arguably though, it’s overhead where Tromsø golf club really separates itself. It’s a one-of-a-kind experience that has helped drive what Sonsteby has noted as an increased appetite for golf in the region, with Tromsø golf club adding 65 new members to its 470 total membership this year alone. “Now we see the massive increase that Viktor and Suzann have created in golf in this country,” Stephen Newey, head pro at Oslo Golf Club and Pettersen’s junior coach, told CNN. “The kids want to play golf – ‘I want to be like Viktor, I want to be like Suzann,’ and they can.”
Persons: Bjorn Sonsteby’s, ” Sonsteby, , , Cam Bauer, Sonsteby, Jan Morten Bjoernbakk, Viktor, Viktor Hovland, Hovland, Ryder, Richard Heathcote, Suzann Pettersen, Suzann, ” Stephen Newey, Organizations: CNN, Sun, Norway –, Lights, PGA, Getty, Oslo Golf, Pettersen’s Locations: Norwegian, , Tromsø, Norway, Oslo, Rome
"You've just dropped the World Cup," were the words attributed to Waugh after Gibbs's drop, though neither player has ever corroborated the remark. Klusener thumped fours off paceman Damien Fleming's first two balls to leave South Africa needing one run from the final four balls for a place in their maiden World Cup final. They were eliminated from their home World Cup in 2003 after miscalculating the adjusted winning target in a rain-hit match against Sri Lanka. In 2015, New Zealand batsman Grant Elliot smashed Dale Steyn for six to sink South Africa in the semi-final in Auckland. Former Australia wicketkeeper Brad Haddin said he would waste no time in bringing up South Africa's World Cup misfires if he was playing against them in Thursday's semi-final in Kolkata.
Persons: Steve Waugh, Herschelle Gibbs, Gibbs, jogged, You've, Waugh, Gibbs's, Lance Klusener, ender Allan Donald, Klusener, Damien Fleming's, Donald, Adam Gilchrist, Grant Elliot, Dale Steyn, Brad Haddin, Haddin, Ian Ransom, Peter Rutherford Organizations: Australia, South, Sri, New, New Zealand, Auckland . Former Australia, Thomson Locations: KOLKATA, Africa, South Africa, Edgbaston, Australia, Sri Lanka, New Zealand, New, Auckland ., Kolkata, Melbourne
The sensation is a bit unnerving and invokes one of the laws of treehouse building: Heights you wouldn’t think twice about in a concrete structure suddenly become imposing when you’re on a branch. Taka, as everyone calls him — or sometimes Koba-san — is Japan’s best-known treehouse builder. He’s built treehouses for affluent Chinese clients and treehouses for preschools — draws for parents anxious about their children’s detachment from nature. The most modest of his structures, he says, is four square feet; the largest, about 270 square feet. He’s sometimes referred to as a “treehouse architect,” but he doesn’t care for the phrase — “architect” connotes not only degrees and building codes but other constraints, too, like permanence.
Persons: Takashi Kobayashi, He’s, preschools —, Organizations: CAN, Treehouse Creations Locations: Tokyo, Angkor Wat, Cambodia, Covid
The NFL’s Viral Sensation: ‘Roof Cam’ Highlights
  + stars: | 2023-10-12 | by ( Jason Gay | ) www.wsj.com   time to read: 1 min
To make a masterpiece, Atlanta Falcons staffer Austin Hittel takes an elevator all the way up to the 300 level, and then climbs another set of stairs to the top of 300. From there, it’s just another 18 flights skyward, until the filmmaker gets to his preferred summit: the catwalks atop the NFL team’s home, Mercedes-Benz Stadium.
Persons: Austin Hittel, it’s Organizations: Atlanta Falcons, NFL, Mercedes, Benz
So I was skeptical I’d find a do-it-all carryall—until the Cambelbak’s Pivot Tote Pack restored my faith. It feels like I’d spent my entire adult lifetime seeking out the perfect tote, and now the Pivot has at last replaced them all. As a native Midwesterner, I once kept an entire day’s worth of stuff in my car, swapping out shoes and outfits as the hours ticked along. Now car-free in New York, I leave home carrying an entire day with me in a large bag. The Pivot Tote and I have covered enough miles together—sometimes 20,000 steps in a day—that it has far outlasted my previous commuting companions.
Persons: Sarah Rose, I’d, it’s, wallop Organizations: tote Locations: New York
The recent stock market sell-off illustrates just how uneasy investors are right now. The recommendations of Wall Street pros can provide some guidance for regular investors. These are the 10 stocks with the highest percentage of analyst 'buy' recommendations. Cutting through the noise and finding smart investments has never been more difficult. Improving investor sentiment and a few key tech stocks riding the AI wave have sent stocks higher than expected this year, and some market watchers believe the stock market rally will continue.
Persons: that's Organizations: Wall
Novak Djokovic had dominated all of the most significant moments of the first half of this tennis season. After winning his 10th Australian Open, he emerged with the Roland Garros crown, his 23rd Grand Slam tournament title, tied for the career record. A win at Wimbledon, on tennis’s most hallowed ground, would have put him three-quarters of the way to becoming the first man to achieve a calendar Grand Slam in 54 years. Carlos Alcaraz, surprising the tennis world with a championship match victory over Djokovic on the slick Wimbledon grass, a surface assumed to have been the Spaniard’s kryptonite. But when the final was over, as Alcaraz lofted the greatest trophy in tennis skyward, a budding tug of war had morphed into a full-blown rivalry for men’s tennis supremacy.
Persons: Novak Djokovic, Roland Garros, Roger Federer, Rafael Nadal, Carlito, a.k.a, Carlos Alcaraz Organizations: Wimbledon, Djokovic
REUTERS/Andrew Kelly/File PhotoAug 10 (Reuters) - Robinhood Markets (HOOD.O) on Thursday defeated an appeal by investors over the stock trading platform's decision to restrict purchases of 13 "meme stocks" during a January 2021 frenzy that squeezed hedge funds. "When Robinhood restricted its customers' ability to buy meme stocks, it took a sizable - and perhaps justifiable - hit in the court of public opinion," Circuit Judge Britt Grant wrote. "But in this court, Robinhood is only accountable for specific legal duties." The meme stock frenzy has been fueled in part by investors using online forums such as Twitter and the subreddit WallStreet Bets. Robinhood is also being sued by investors who sold nine meme stocks at a loss in late January and early February 2021.
Persons: Andrew Kelly, Robinhood, Britt Grant, Thursday's, Judge Cecilia Altonaga, Jonathan Stempel, Matthew Lewis Organizations: Inc, REUTERS, Thursday, AMC Entertainment, GameStop, Circuit, Twitter, Menlo, Thomson Locations: New York City, U.S, Atlanta, Miami, Menlo Park , California, New York
Inflation hasn't cooled because of the Federal Reserve's interest-rate hikes, Paul Krugman says. Still, the US economy might be in worse shape today if the Fed hadn't raised rates, Krugman says. Those forces plateaued more than a year ago, but have only been reflected in recent months due to lags in inflation measures, Krugman said. "This suggests to me that the Fed may have done the right thing for the wrong reasons," Krugman said. He explained that surprisingly resilient US demand could indicate the Fed stopped the economy overheating and inflation surging by raising rates, which allowed recombobulation to relieve pricing pressures.
Persons: Paul Krugman, it's, Krugman, , recombobulation Organizations: Service, New York Times, Fed, Princeton, MIT Locations: Wall, Silicon
CNN —Brian Harman won the 151st Open Championship on Sunday, sealing the first major of his career in dominant fashion. When Faldo birdied at the subsequent hole, Hoch's hopes of a first major win similarly went up in the air. David Cannon/Getty Images Europe/Getty Images Lorena Ochoa, US Women's Open (2005) Ochoa secured a top-four finish at the 2005 US Women's Open. Not when you led at the final hole. A par at the final hole would have been enough to put the American into the playoff, but an agonizing missed putt [pictured] epitomized her painful afternoon in San Francisco.
Persons: Brian Harman, Australia’s Jason Day, Austria’s Sepp Straka, Tom Kim, Jon Rahm, Harman, “ I’m, ” Harman, Osullivan, Brooks Koepka, Wyndham Clark, Rahm, Kim, Rory’s, Argentina’s Emiliano Grillo, ” McIlroy, , , Luke Walker, Greg Norman, France’s Jean van de Velde, , McIlroy, Andrew Redington, Sam Snead, Snead, Lew Worsham, Louis, Arnold Palmer, Palmer, Billy Casper, Casper, Ed Sneed, Sneed, Fuzzy Zoeller, Tom Watson, Watson, Scott Hoch, Hoch, Nick Faldo, skyward, Faldo birdied, Hoch's, Mark Calcavecchia, Calcavecchia, Colin Montgomerie, Germany's Bernhard Langer, Norman, Faldo, David Cannon, Jean Van De Velde, Van De, Van De Velde, Frenchman, Barry Burn, Paul Lawrie, Lorena Ochoa, Ochoa, Birdie Kim, Harry, Phil Mickelson, Mickelson, Lefty, Geoff Ogilvy, Ezra Shaw, Stewart Cink, Warren Little, Dustin Johnson, Johnson, Graeme McDowell, Donald Miralle, Jason Dufner, Dufner, Keegan Bradley, Bradley, Adam Scott, Ernie Els, Scott, Jordan, Buddy, Jordan Spieth, Danny Willett, Spieth, Jim Watson, Lexi Thompson, Yuka Saso, Thompson, Sean M, Mito Pereira, Pereira, Justin Thomas, Will Zalatoris, Christian Petersen, Van de Velde, Stuart Franklin, Ghostbuster Harman, Tommy Fleetwood, Read, Brian Harman shrugs, unflappable Organizations: CNN, 151st, PGA, Reuters, Northern, Royal Liverpool, PGA Championship, North, Louis Post, Bettmann, Augusta, Augusta National, Getty, Ryder, American, Scottish, Team Europe, . Augusta National, Barry Burn . Pictures, South Korean, Chevron, Royal Lytham, Nasa, Mito, Southern Hills Country Club, eventual Locations: Royal Liverpool, South, Georgia, Carnoustie, Augusta, North America, San Francisco, Kiawah, Europe, Jean Van De Velde , British, Scotland, Mexican, British, Turnberry, Atlanta, American, New York, St, Annes, squander, Tulsa, Liverpool, Harman’s
NEW YORK/LONDON, July 11 (Reuters) - One of the world's top insurers is mulling offloading its property reinsurance business in a bid to cut its exposure to natural disasters like hurricanes, according to three people familiar with the matter. Prices for U.S. property catastrophe reinsurance rose by as much as 50% at a key July 1 renewal date, broker Gallagher Re said in a recent report. AXA has been trying to reduce the exposure of its AXA XL property and casualty (P&C) division - which houses XL Re - in an effort to make earnings more predictable. This has caused the reinsurance business to shrink, with revenues dropping by nearly a third last year to $3.2 billion, according to AXA's 2022 accounts. In May, American International Group (AIG.N) agreed the sale of its reinsurance arm Validus Re for roughly $3 billion, or about 1.4 times the unit's book value.
Persons: Reinsurers, Hurricane Ian, Gallagher Re, David French, Pablo Mayo, Amy, Jo Crowley, Carolyn Cohn, Echo Wang, Silvia Aloisi, John O'Donnell, Conor Humphries Organizations: AXA SA, XL, Covea, AXA, AXA XL, American International, Fidelis Insurance Holdings, Reuters, Hamilton Insurance, Pablo Mayo Cerqueiro, Thomson Locations: Bermuda, New York, London, Paris
Triumph at the Rocket Mortgage Classic on Sunday ended the Fowler’s four year wait for a sixth PGA Tour title as the 34-year-old emerged victorious from a three-way playoff at Detroit Golf Club in Michigan. By July 2022, he found himself outside the world’s top 150 ranked players for the first time since his rookie season on the PGA Tour 12 years prior. Brian Spurlock/Icon Sportswire/APNear-misses for Hadwin and Morikawa extended the pair’s search for further PGA Tour wins. The fans still come out to see him no matter how he’s playing, but he’s been playing well. “Look how he’s been playing, especially the US Open, the scores he’s been posting last week, it’s awesome.
Persons: Rickie Fowler, Ricky Romano –, Collin Morikawa, Adam Hadwin, Fowler, , “ I’m, cradling, Maya, Allison Stokke Fowler, , Allison, Carlos Osorio, ” Fowler, it’s, rocketed Fowler, I’ve, ” Fowler birdies, Brian Spurlock, Morikawa, Hadwin, Morikawa’s, “ It’s, he’s, ” Morikawa, Organizations: CNN, Rocket, Detroit Golf Club, Waste Management, PGA, PGA Tour, Royal Liverpool Locations: Michigan, , Arizona, Los Angeles
Altitude Meets Adrenaline: Running the Dolomites
  + stars: | 2023-06-23 | by ( Christopher Solomon | ) www.nytimes.com   time to read: +1 min
Fog smothers the meadows, pastures and peaks around Val Pusteria — the kinds of views we’ve waited a year to see. Finding the perfect routeTrail running, a sport that takes its participants away from paved roads, often to the hills and mountains, has exploded in popularity. The number of Americans who say they have taken part in trail running tripled between 2007 and 2021, according to the Outdoor Foundation, an arm of the Outdoor Industry Association, a recreation-industry trade group. The Dolomites, an Italian mountain range with staggering limestone pinnacles, great food and an extensive web of trails, have emerged as a top destination. Runners now tackle several of the Dolomites’ Alta Vias (“high ways”) that have traditionally been hiking routes.
Persons: smothers, Pusteria, we’ve, Heidi wobbling Organizations: Outdoor Foundation, Outdoor Industry Association Locations: United States
CNN —Two record-breakers, a pair of hole-in-ones, and a sea of low scores: Los Angeles Country Club served up a Hollywood blockbuster with a thrilling first round at the US Open on Thursday. The pair of hole-in-one’s highlighted a day of widespread low scoring, as birdies rained down around the North Course. Thursday’s 71.34 scoring average marked the lowest ever recorded in a first round at the US Open, beating the previous low of 72.29 at the 1993 tournament. Fowler’s 10 birdies marked the most ever recorded in a US Open round. “I joked a bit earlier, I think the USGA will be a bit frustrated that the number was that low today,” Scheffler told reporters.
Persons: Rickie Fowler, Xander Schauffele, Dustin Johnson, Wyndham Clark, LIV Golf’s Johnson, Clark –, France’s Matthieu Pavon, Sam Burns, Fowler, Richard Heathcote, Rory McIlroy, Brian Harman, Bryson DeChambeau, Scottie Scheffler, Harris, Sam Bennett, Korea’s Kim Si, France’s Paul Barjon, McIlroy, David Cannon, Branden Grace, , I’m, ” Berry Henson, , ” Scheffler, Burns, Pavon, ” Pavon Organizations: CNN, Los Angeles Country Club, Getty, US, USGA, skyward Locations: American, West Coast, Pavon
Jeff Greene told the story of his lucrative wager against the mid-2000s housing bubble to Insider. John Paulson told Greene about his iconic trade, which "Big Short" investor Michael Burry also made. Jeff Greene, one of the few investors to successfully short the mid-2000s housing bubble, expects the US economy to slump and home prices to drop. Warren Buffett, during Congressional testimony in 2010, underscored how contrarian it was to bet against the housing market at that time. "The Cassandras were there, but who's going to listen to John Paulson in 2005 or 2006, or Michael Burry?"
Persons: Jeff Greene, John Paulson, Greene, Michael Burry, Paulson, Paulson's, Warren Buffett, Berkshire Hathaway Organizations: Federal, Forbes, Berkshire Locations: West Palm Beach , Florida
Kilauea Erupts in Hawaii With ‘Incandescent’ Glow
  + stars: | 2023-06-07 | by ( Remy Tumin | ) www.nytimes.com   time to read: 1 min
Kilauea, the youngest and most active volcano on the Big Island of Hawaii, erupted early Wednesday morning, officials said, sending fountains of lava spewing skyward before pooling and spreading across its summit. The U.S. Geological Survey’s Hawaiian Volcano Observatory detected a glow in the web camera of the Kilauea summit and said the volcano began erupting around 4:44 a.m. local time. Less than an hour later, the lava created a brilliant black-and-orange web across the crater’s floor. As dawn broke, a livestream showed lava still bubbling but its surface beginning to harden. “The spreading across the floor of the crater was just totally incandescent,” Ken Hon, the scientist in charge of the observatory, said in an interview.
Persons: Ken Hon, Organizations: Geological Locations: Hawaii, U.S
And yet, the Grand Canyon remains yoked to the present in one key respect. The Colorado River, whose wild energy incised the canyon over millions of years, is in crisis. Down beneath the tourist lodges and shops selling keychains and incense, past windswept arroyos and brown valleys speckled with agave, juniper and sagebrush, the rocks of the Grand Canyon seem untethered from time. The Grand Canyon is a planetary spectacle like none other — one that also happens to host a river that 40 million people rely on for water and power. At Mile 0 of the Grand Canyon, the river is running at around 7,000 cubic feet per second, rising toward 9,000 — not the lowest flows on record, but far from the highest.
Persons: windswept, Davis, John Weisheit, , , Mead Hoover, Powell, Daniel Ostrowski, Victor R, Baker, . Baker, Lake Powell, Dr, Ed Keable, wouldn’t, Jack Schmidt, Schmidt, , Alma Wilcox, “ There’s, we’ve, Nicholas Pinter Organizations: Rockies, York Times, University of California, Utah Glen, Lake, Mead, Recreation, Hualapai, CALIF, ARIZ . Utah Glen, Lake Mead, Area, Forest Utah, Engineers, University of Arizona, of Reclamation, National Park Service, Center, Colorado River Studies, Utah State University Locations: Colorado, The Colorado, North America, Utah, Powell, Lake Mead, Arizona, . UTAH COLO, N.M, ARIZ . Utah, Mead, NEV . UTAH COLO, Glen, ARIZ, Hopi, Nevada, Lake Powell, Arizona , California , Nevada, Mexico, Davis, Little Colorado, tamarisk, gesturing
How to Get Absolutely No Sun This Summer
  + stars: | 2023-05-29 | by ( Madeleine Aggeler | ) www.nytimes.com   time to read: +1 min
They worshiped the sun as a god and built temples for it. They danced for it and wrote poems about it. They devoted unfathomable amounts of time, money and effort into studying it, and even built probes that could fly out into space and get a closer look. And yet, the sun is tricky. We need sunlight for vitamin D, and to help regulate our sleep cycles, but it inspires people to go stand up paddle boarding, and then to tell you again and again about how you really have to try stand up paddle boarding.
Organizations: National Cancer Institute, National Institutes of Health
Birding, however, offers things those other passions do not. With birds, no matter the time of year, there’s always something to see. Imagine watching land and sea unfold beneath you not through the windows of an airplane but under your own power. The things that you’ve left behind recede to insignificance, put into new perspective by a towering vantage point. In 2021, National Geographic invited me to host a television show on birding, “Extraordinary Birder,” and I said yes.
NASA's Mars rover found evidence to suggest deep, powerful rivers once raged on the red planet. The Perseverance rover took close-up images a specific region in Jezero Crater for the first time. The discovery may help scientists figure out what kind of ancient life existed on the planet. Scientists studying rock formations, features, and valleys on Mars, so far, have found evidence to suggest Mars was once covered by water. NASA/JPL-Caltech/ASU/MSSSAnother image from Perseverance further supports this idea of a powerful ancient river that once roared across Jezero Crater.
In 2022, Americans spent an estimated $30 billion on legal marijuana products. Legal pot sales could top $33 billion this year – more than chocolate and craft beer combined. Last year's total also exceeds the combined total sales of chocolate and craft beer, which saw $20 billion and $7.9 billion, respectively. If trends continue, MJBizDaily projects cannabis sales could reach as high as $33.6 billion this year and climb to nearly $57 billion by 2028. Robust as the total US sales numbers are, recent years have not been kind to the cannabis industry.
Courtesy Amelia Earhart Hangar MuseumAmelia Earhart wasn’t just the first woman to fly solo over the Atlantic. Camelot Theme Park (England): Set in the leafy Lancashire countryside, the Magic Kingdom of Camelot resurrected tales of King Arthur and his Knights of the Round Table. Scott Audette/AP Pripyat Amusement Park (Ukraine): This theme park was orphaned in 1986 following the Chernobyl meltdown just five kilometers (three miles) away. Considered the first theme park in Southeast Asia, it featured an artificial lake, huge swimming pool with giant water slides and a Prehistoric Animal Kingdom. Anne Jones/Alamy Stock Photo 10 fascinating theme parks that have closed forever Prev NextThat’s the question posed by these no-longer-in-operation theme parks around the world.
Legal pot sales could top $33 billion this year – more than chocolate and craft beer combined. Last year's total also exceeds the combined total sales of chocolate and craft beer, which saw $20 billion and $7.9 billion, respectively. If trends continue, MJBizDaily projects cannabis sales could reach as high as $33.6 billion this year and climb to nearly $57 billion by 2028. Of course, legal sales are still vastly outweighed by illicit ones – Whitney Economics estimated that legal transactions constituted just 25% of the total cannabis market in the US in 2021. Robust as the total US sales numbers are, recent years have not been kind to the cannabis industry.
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