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ANCHORAGE, Alaska (AP) — Anchorage Mayor Dave Bronson gained national attention this summer when he proposed buying one-way airfare out of Alaska's largest city for anyone without housing who wanted to leave before winter. The Anchorage Assembly just approved $4 million in funds and will vote on additional elements of an emergency plan next week. Anchorage last winter had a record 24 deaths outdoors among the homeless population, with 11 fatalities occurring in the winter months between October 2022 and April 2023, said Alexis Johnson, the city's homeless director. The city recently brought four more housing facilities, which could create space for another 310 people, but is still seeking winter housing for an estimated 400 to 450 people. By renting hotel rooms, Johnson hopes to limit the capacity of a mass winter homeless shelter to no more than 150 people — one of the Assembly's stipulations when releasing the emergency funds.

Persons: Dave Bronson, —, ”, Scott Gibson, Alexis Johnson, Johnson, Felix Rivera, Rivera, Bronson, “ I’m, ” Bronson, Greg Smith, Smith Organizations: — Anchorage, Alaska's, Land Trust, Sullivan Locations: ANCHORAGE, Alaska, Alaska's, Anchorage, Cook, California, Hawaii, Anchorage’s

☆ Homebuyers struggling to find a house while inventory hovers around its lowest point in years should look at these 13 large metro areas kick-starting new homebuilding fastest
▼ + stars: | 2023-09-16 | by ( Mark Reeth | ) www.businessinsider.com time to read: +4 min

Meanwhile, housing starts were actually up 5.9% in July, but filings for housing permits fell 13% to 1,442,000. In the first half of this year, new housing permits plummeted 17.5% compared to the first half of 2022. "In the first half of 2022, an impressive 30 states saw year-over-year increases in their numbers of permits. All told, of the 384 metro areas that Point2 tracks data from, a mere 90 saw the number of housing permits increase year over year. Among those 384 metro areas, 56 fall under the large category, meaning they have populations of 1 million or more.

Persons: Louis Fed, Point2, Andra Hopulele, Hopulele Organizations: National Association of Realtors Locations: West

☆ Younger baby boomers are facing a homelessness crisis as rents skyrocket and outpace Social Security
▼ + stars: | 2023-09-15 | by ( Cork Gaines | ) www.businessinsider.com time to read: +5 min

Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. AdvertisementAdvertisementAccording to the Social Security Administration, the average Social Security benefit is now $1,706 per month, more than $300 below the nearly record-high national median rent price of $2,052. AdvertisementAdvertisementA Wall Street Journal analysis of federal data found the US had at least 600 fewer nursing homes than it did in 2017. A Florida Housing Coalition study found the state had only 25 affordable and available rental units for every 100 extremely low-income renters. AdvertisementAdvertisementWithout COVID-19-relief resources, many older people are relying even more on their Social Security benefits.

Persons: Barbara DiPietro, Irfan Khan, Donald Whitehead Jr Organizations: Service, Department of Housing, Urban, Wall Street, Health Care, Homeless Council, Street, of California, Social Security Administration, Security, Medicaid, Florida Housing Coalition, National Coalition for, Homeless, Social Security, AARP Locations: Wall, Silicon, California, San Francisco, Florida, Florida . North Carolina, COVID

☆ House Democrats Visit a Migrant Hotel as Political Tensions Erupt
▼ + stars: | 2023-09-15 | by ( Andy Newman | More About Andy Newman | ) www.nytimes.com time to read: +1 min

However, a small but very loud crowd of protesters, whose shouts of “Close the border!” and “Send them back!” rendered the speeches by the Congress members nearly inaudible, signaled a different and more difficult reality facing the city. A Republican-controlled House is unlikely to offer much help for New York. Rather, conservative-leaning politicians have been using the spiraling crisis as a talking point in their own push to secure the border and reduce immigration. Mr. Adams has said the president has “failed” the city. Still, Mr. Espaillat tried to sound a hopeful note.

Persons: “, Biden, Adams, Espaillat, ”, Ocasio, Cortez Organizations: Republican, New Locations: New York

☆ The SEC is asking questions about Boxabl, the tiny-home startup that boasts Elon Musk and Post Malone as fans
▼ + stars: | 2023-09-13 | by ( Daniel Geiger | Alex Nicoll | ) www.businessinsider.com time to read: +9 min

In its six years of existence, Boxabl has captured the public's imagination with its innovative tiny homes and celebrity endorsements from the likes of Elon Musk and the musician Post Malone. Three former company employees, meanwhile, said they had been contacted and interviewed in recent weeks by the SEC to speak about Boxabl, including the company's business practices. In its recent financial statement, Boxabl noted that the remaining units "that were previously reserved for that project can now be sold for other projects." In its recent financial filing, Boxabl said it paid Firooznia $210,000 in 2022 for "consulting services." Leader Capital would have netted roughly $3.7 million in the deal, which it said fell apart because of the delay.

Persons: Boxabl, Elon Musk, Post Malone, cofounders, Paolo, Galiano Tiramani, Cory Jarvis, Dave Cherry, Travis Hess, Hess, Pronghorn, it's, Hamid Firooznia, Firooznia, Caroline Larkin, Paolo Tiramani, Larkin Organizations: Securities, Exchange, SEC, Arizona's Department of Housing, Staff, Pronghorn, Leader Locations: Salt Lake City , Utah, North Las Vegas, Guantánamo, Arizona, Arizona , California, Nevada, New York City, Portland , Oregon

☆ Why More Baby Boomers Are Sliding Into Homelessness
▼ + stars: | 2023-09-12 | by ( Shannon Najmabadi | ) www.wsj.com time to read: 1 min

Why More Baby Boomers Are Sliding Into Homelessness The aging of America means more old people on fixed incomes are overwhelmed by the high cost of housing and other financial shocks; ‘not seen since the Great Depression’Judy Schroeder became homeless after she couldn’t afford her rent on her Social Security income. She stayed at a friend’s house in Naples, above, until Hurricane Ian flooded the property. Bryan Cereijo for The Wall Street Journal

Persons: ‘, Judy Schroeder, couldn’t, Hurricane Ian, Bryan Cereijo Organizations: Social, Wall Street Locations: Naples, Hurricane

☆ Homeowners should be worried about a legal battle that could jeopardize 'the stability of the housing market,' the head of a federal consumer watchdog says
▼ + stars: | 2023-09-12 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +5 min

The Supreme Court will soon hear a case challenging the CFPB's funding structure. Housing groups also warned of chaos in the industry if CFPB's funding is upended. But the Supreme Court threat to the CFPB's funding structure "would raise significant concerns for the stability of the housing market and the financial system more broadly," Chopra said. "Reverting to a system without these regulations would create uncertainty for the mortgage industry and the economy," Chopra said. At this point, it's unclear how broadly the Supreme Court will rule, and if it will strike down the CFPB's funding structure entirely.

Persons: Rohit Chopra, —, Chopra, homebuyers Organizations: Housing, Service, Financial, Community Financial Services Association of America Ltd, Consumer Financial, Bureau, Federal Reserve, Fifth Circuit, Mortgage Collaborative National Conference, Congress, Mortgage Bankers Association, National Association of Home Builders, National Association of Realtors Locations: Wall, Silicon

Median prices for nearly every type of child care in New York City have shot up since 2017, according to state surveys of providers. And the workers who provide child care are reeling from high costs and are leaving the industry. Many make just over minimum wage, leaving them barely able to afford to stay in New York City or pay for care for their own children. Interviews with more than three dozen parents, nannies, day care providers and experts revealed a potentially devastating crisis for the future of New York City. In recent years, only the astronomical cost of housing has presented a greater obstacle to working families than the cost of child care, experts said.

Organizations: Yorkers, New York City, U.S . Department of Labor Locations: New York, New York City, York City

The figures suggest that China's latest steps to revive a crisis-hit property market, including lower mortgage rates and down payments, could unlock some pockets of housing demand in the most sought-after areas, but may struggle to halt the broader property market downturn. "These measures may generate a short-term rebound in property transactions, but are insufficient to stabilize the property market," Goldman Sachs analysts said in a note. But Yu Fei, a property sales agent at HomeLink, said the initial spike in interest he noticed in the first few days is already petering out. "Many homebuyers remain in a wait-and-see approach, some hoping for more radical policies to stimulate the property market," Yu said. Goldman analysts said if property sales kept sliding policymakers could release more liquidity into the market by cutting banks' reserve requirement ratios, lowering rates, easing home purchasing rules further.

Persons: Jason Lee, Goldman Sachs, Zhang Guoqiang, I'm, Zhang, Zhao Jie, Yu Fei, Yu, Goldman, Wan, Emelia Sithole Organizations: REUTERS, China Index, Haitong Securities, Longfor, HK, Thomson Locations: Beijing, China, BEIJING, HONG KONG, China's

☆ Cash-strapped New Yorkers are doing the unthinkable: Moving to Jersey City
▼ + stars: | 2023-09-10 | by ( Juliana Kaplan | Noah Sheidlower | ) www.businessinsider.com time to read: +12 min

New Yorkers fed up with a tough housing market are making the pilgrimage to Jersey City. New York City housing is becoming more elusive and expensive, and Jersey City is an attractive option. That's not to say that Jersey City is much cheaper, but there are more options: Along the Hudson River waterfront in Jersey City, dozens of luxury high-rises have sprouted up within the last 10 years, some filled with their own coffee shops, heated pools, and rooftop dog runs. Now, he knows at least eight to 10 acquaintances who have taken the Jersey City plunge since he moved. When it comes to the space and amenities that Jersey City provides, "once you have it, you can't go back."

Persons: Chelsea Vaughn, I'm, Vaughn, brownstones, Vaughn isn't, Steven Fulop, Fulop, cringes, Alexa Lacayo, would've, She'd, Susannah Byrne, Byrne, should've, Joey Politano, Zack Chibane, he's, Chibane Organizations: Service, Bushwick, Jersey City, New, Apple, Jersey, NYC, Income Housing Association, Alexa, New York's Financial, York, New Jersey, New York Locations: Jersey City, While Jersey, York, New York City, Jersey, Wall, Silicon, Brooklyn, Brooklyn , Manhattan, Vaughn, Harlem, New York, Grove, —, It's, Florida, New, Manhattan, Hoboken, Murray Hill, Hudson, NYC, New Jersey

☆ 'Blame the Boomers': A paradox in the housing market is what's really behind rising demand and home prices
▼ + stars: | 2023-09-09 | by ( Filip De Mott | ) www.businessinsider.com time to read: +4 min

Strong demand among older Americans is keeping prices high, with analysts saying "Blame the Boomers." But Barclays analysts said that alone doesn't explain the surge in home pricing. AdvertisementAdvertisement"This may strike some as paradoxical, as many associate demand for housing units with rates of increase in population," analysts said, adding: "Is it not true that an older population requires less housing? While it is likely true that older people tend to prefer smaller housing units, it is not true that an older population requires fewer housing units." And as there's increasingly more older Americans, housing demand is being pushed higher, fueling price gains in for homes, Barclays wrote.

Organizations: Barclays, Service, Fed Locations: Wall, Silicon, America

☆ YIMBY Movement Is Winning: Build More Houses, Lower Home Prices, Rents
▼ + stars: | 2023-09-07 | by ( Eliza Relman | Kelsey Neubauer | ) www.businessinsider.com time to read: +15 min

The adherents of the "Yes In My Backyard," or YIMBY, movement believe that America's housing crisis comes down to the fundamental tension between supply and demand. Today, nearly 75% of residentially-zoned land in the US is restricted to single-family housing — detached homes designed for one family. Folks are like, 'Oh, we're in a housing crisis for the very first time. Ground zero for the modern YIMBY movement was California, where sky-high home prices forced people to reconsider their attitudes toward development. The city didn't allow new multiunit buildings to be taller or wider than the single-family homes they replaced, making construction less financially attractive to developers.

Persons: Nolan Gray, YIMBYism, Sonja Trauss, Trauss, YIMBYs, NIMBYs, Gray, I'm, —, Bill, They've, Tayfun Coskun, Muhammad Alameldin, Emily Hamilton, We're unwinding, Jenny Schuetz, Greg Gianforte, California YIMBY, Republican Sen, Todd Young, Democratic Sen, Brian Schatz, Eliza Relman, Kelsey Neubauer Organizations: San, San Francisco Bay Area, Urban Institute, Twitter, of Regional Planning, Public, Cato Institute, University of California, Berkeley Terner Center, Housing, George Mason University, Conservative, Brookings Institute, Republican, Todd Young of Indiana, Democratic, Hawaii Locations: California, San Francisco Bay, San Francisco, I'm, Los Angeles County, Florida, Utah, Minneapolis, Oregon, Austin, Dallas, Seattle, Portland , Oregon, Denver, New York, Texas, YIMBYism, We're, Bozeman, Montana, Miami

☆ UK house prices fall by most since 2009 as rate rises bite
▼ + stars: | 2023-09-07 | by ( David Milliken | ) www.reuters.com time to read: +2 min

Halifax said house prices were 4.6% lower last month than in August 2022, when they were close to their peak. "House prices have proven more resilient than expected so far this year.... The Bank of England has raised interest rates 14 times since December 2021, taking rates to 5.25% in August. Rival mortgage lender Nationwide reported last week that house prices in August were 5.3% lower than a year earlier. Imogen Pattison, assistant economist at Capital Economics, said the bigger-than-expected fall in Halifax house prices supported the consultancy's forecast that house prices would drop a total of 10.5% by mid 2024.

Persons: Phil Noble, Halifax, Kim Kinnaird, Andrew Bailey, Imogen Pattison, David Milliken, Paul Sandle, Emelia Organizations: REUTERS, Halifax, Lloyds Banking Group, Bank of England, Nationwide, Capital Economics, Thomson Locations: Manchester, Britain, Halifax

☆ 5 costly mistakes the Russian military has made since it invaded Ukraine
▼ + stars: | 2023-09-05 | by ( Erin Snodgrass | ) www.businessinsider.com time to read: +9 min

Coverage of the grueling conflict has, in part, been characterized by a litany of Russian military mistakes that began early and continue to crop up. Advertisement Advertisement Watch: VIDEO: Why Russia's military is failing so far in UkraineHere are 5 military mistakes Russia has made since February 24, 2022. Putin vowed Russian troops would take the Ukrainian capital of Kyiv within a matter of days. AdvertisementAdvertisementA man wearing a Ukrainian flag visits an avenue where destroyed Russian military vehicles have been displayed ahead of Independence Day in Kyiv, Ukraine, Monday, Aug. 21, 2023. There are several examples throughout the war of Russian troops and leaders harming their own side.

Persons: Vladimir Putin's, Putin, Efrem Lukatsky Putin, Michael Kofman, Calder Walton, ANATOLII STEPANOV, Serhii, aren't, Screengrab Organizations: Service, Kyiv, Center for Naval, Harvard University's Kennedy School of Government, Intelligence, Sunday Times, Javelin, Getty, High Mobility Artillery, Kremlin, Security Service, Russian Locations: Russia, Ukraine, Wall, Silicon, Kyiv Russia, Kyiv, Russian, Ukrainian, Bucha, Vuhledar, Oskol, Ukraine's Kharkiv, AFP, Makiivka, Donetsk Oblast, village's, Belgorod, Crimean, Kerch

☆ Biden gets low marks on economy and major concerns about his age as he looks to Trump rematch, new poll shows
▼ + stars: | 2023-09-04 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +4 min

A 60% majority of registered voters indicated in the poll that they do not consider Biden "mentally up for the job" of being president. Majorities of registered voters said they disapproved of how Biden has handled the economy (59%), inflation (63%) and growth of the middle class (58%), according to the poll. Nearly two-thirds of registered voters, 63%, said they viewed the strength of the U.S. economy negatively, including 36% who called it "poor." Inflation is a major pain point: 74% of respondents said it has moved in the wrong direction over the past year. Most voters, 86%, said the cost of housing has gone in the wrong direction over the past year.

Persons: Joe Biden, Joe Biden's, Donald Trump, Biden, —, Trump, Democratic pollster Michael Bocian, Tony Fabrizio, Bocian, Ron DeSantis, DeSantis, Vivek Ramaswamy, Nikki Haley Organizations: Labor, State Labor, Metal Workers, Local, Wall Street, Democratic, Voters, Biden, Trump, Republican, Florida Gov, GOP, United Nations Locations: Philadelphia , Pennsylvania, U.S, Ukraine, China, Philadelphia, Park, Scranton , Pennsylvania

☆ Architects explain how they're turning office buildings into apartments with high ceilings and more natural light
▼ + stars: | 2023-09-04 | by ( Eliza Relman | ) www.businessinsider.com time to read: +9 min

Steven Paynter, an expert in office-to-residential conversions at the architecture firm Gensler, thinks converted office buildings will be a trendy, new type of housing. Advertisement Advertisement Watch:The renovated exterior of Franklin Tower, a 24-story former office building in downtown Philadelphia that now contains luxury residences. But renovating old office buildings is no simple task. AdvertisementAdvertisementIn some cases, particularly when it comes to postwar high-rises, it's more economical to tear old office buildings down and replace them with new housing, Hogan said. When Gensler renovated Franklin Tower, a vacant 1970s office building in downtown Philadelphia, it fully reconstructed the facade and windows.

Persons: Steven Paynter, Paynter, Robert Deitchler, Mark Hogan, who'd, you've, Charles Bloszies, Hogan, " Hogan, John Cetra, Cetra, Bloszies Organizations: Service, Broad, Coast, Franklin Locations: Wall, Silicon, Manhattan , New York, Philadelphia, San Francisco, Franklin Tower, Manhattan, San Francisco's

☆ More unmarried couples are buying homes together. What to know before you do
▼ + stars: | 2023-09-03 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +5 min

'Housing affordability really is a struggle'Many young, unmarried couples live together, often for financial reasons. About 3 in 5 unmarried couples in the U.S. live with their partners, according to a report by the Thriving Center of Psychology. But unmarried couples should carefully approach making a commitment of this scale. To protect their investments in the property, unmarried couples ought to carefully consider how it is titled. Four factors unmarried homebuyers should considerHere are four things that certified financial planner Cathy Curtis, founder and CEO of Curtis Financial Planning, in Oakland, California, says unmarried couples should think about before buying property together: 1.

Persons: Gary Burchell, homebuyers, Jessica Lautz, Lautz, Melissa Cohn, William Raveis, they're, it's, Cohn, Cathy Curtis, millennials, Curtis, Roth Organizations: Getty, National Association of Realtors, D.C, NAR, William Raveis Mortgage, Curtis Financial, CNBC Financial Locations: Washington, U.S, New York, Oakland , California

☆ NYC Airbnb reckoning: New restrictions will make life more difficult for hosts, and some may find their listings banned altogether
▼ + stars: | 2023-09-03 | by ( Dan Latu | ) www.businessinsider.com time to read: +7 min

The new rules threaten to shutter thousands of short-term rentals and fundamentally redraw what kinds of apartments and homes are used for short-term rentals in New York City. Data site Inside Airbnb estimates there are 40,000 Airbnb listings alone, while an economic study prepared for Airbnb by Boston University Professor Michael Salinger estimates that number is closer to 36,000. One reason for New York City's crackdown is a concern over how short-term rentals squeeze an already incredibly tight housing market. "But a lot of short-term-rental hosts are getting caught up in this lazy sweep." Currently, the average daily rate for New York City listings on Airbnb and Vrbo is $251, according to AirDNA.

Persons: it's, Michael Salinger, AirDNA, Grant, Eric Adams, Melissa, I've, Melissa isn't, she'd, Larry Korman, Siegfried Layda, Korman Organizations: Service, New York, Boston University, Street Journal, New York City's, Special, York City, New Locations: New York City, Wall, Silicon, New, Airbnb, Hollywood, York, Philadelphia, New York, Ridgewood , Queens, Central Park, Central

A few years ago, the charity ran out of money and quietly stopped operating, so the building began filling up with drug users and desperately poor migrants, residents said. Spokespeople for the City of Johannesburg and police did not respond to requests for comment about the residents' accounts. But Johannesburg city manager Floyd Brink said there was a plan to get hijacked buildings back under control. But human rights groups took them to court, said Annie Michaels, an activist from the Johannesburg Migrants Advisory Panel, which has been supporting migrants in the building. Shocked at the state of the building, Jack urged her brother Dube to move, but he never did.

Persons: Sihle Dube, didn't, Dube, Bertha Gxowa, Angela Rivers, Kabelo Gwamanda, Floyd Brink, Cyril Ramaphosa, Ramaphosa, contemptuously, Thando, Ethel Jack, Jack, I've, Chinte Mustafa, Annie Michaels, Michaels, he'd, Tim Cocks, Alexandra Zavis, Ros Russell Organizations: Association, City, Bertha, REUTERS, Thomson Locations: Johannesburg Fire, JOHANNESBURG, Johannesburg, Germiston, Johannesburg's, South, South Africa, Africa, Utrecht, Malawi

REUTERS/Aly Song/File Photo Acquire Licensing RightsHONG KONG, Sept 1 (Reuters) - China is set to take further action including relaxing home-purchase restrictions as it scrambles to tackle a deepening crisis in its massive debt-riddled property sector, four people familiar with the matter said. They plan to act as existing policies failed to sustain a sector rebound earlier this year, the people added. The property sector accounts for roughly a quarter of the world's second-largest economy. However, it is in the throes of an unprecedented debt crisis that market participants fear could spread throughout the financial sector at home and beyond. They also reduced the downpayment ratio to no lower than 20% for first-home buyers and no lower than 30% for second-home purchases.

Persons: Aly, Morgan Stanley, Julie Zhu, Jane Xu, Sumeet Chatterjee, Christopher Cushing Organizations: REUTERS, Regulators, Council, Information Office, Reuters, Housing, People's Bank of China, National Administration of Financial, Thomson Locations: Shanghai, China, HONG KONG, Beijing, Shenzhen, Guangzhou

☆ Home builder stocks shine as prospective buyers turn to new construction
▼ + stars: | 2023-09-01 | by ( Krystal Hur | ) edition.cnn.com time to read: +4 min

CNN —Home builder stocks are on a tear, boosted by a jump in demand as some Americans shun the historically tight and unaffordable market for existing housing. The Federal Reserve’s bid to bring down inflation by raising interest rates has sent US mortgage rates soaring over the past year. That’s been a boon to home builder stocks. That helped lift some home builder stocks, though many still slipped in August along with the broader market. Labor Day weekend gas prices are near all-time highsDrivers hitting the road this Labor Day weekend will be greeted by historically high gas prices for this time of the year.

Persons: That’s, Pultegroup, DR Horton, Lennar, Warren Buffett, Berkshire Hathaway, DR, NVR, Anna Rathbun, Ethan Allen, Read Organizations: CNN Business, Bell, CNN —, Federal, Toll, Bank of America, Berkshire, CBIZ Investment Advisory Services, Labor, CNN, AAA, government’s National Bureau of Statistics Locations: China, Beijing, —

☆ Who Profits After Natural Disasters Like Hurricanes and Wildfires
▼ + stars: | 2023-08-31 | by ( Anthony Dimauro | ) www.businessinsider.com time to read: +13 min

After Hurricane Michael struck Florida in 2018, home sales rose significantly, allowing disaster investors to reap the rewards. This venture has the potential to be even more rewarding given the increasing frequency of natural disasters in the US. But federal disaster relief is painfully slow to respond and often doesn't cover most of the costs. And while moratoriums on damaged land sales aren't a long-term, legally tenable solution, there are ways state officials might be able to deter disaster investors. As the threat of natural disasters increases, so will disaster profiteers.

Persons: Josh Green, Ian, Hurricane Michael, Hurricane, Joe Raedle, Hurricane Maria, Congress —, Hurricane Sandy, it's, Anthony DiMauro Organizations: Nashville Metro Council, FEMA, Hurricane, Centers for Environmental, Federal Reserve's Survey, Consumer Finances, Emergency Managment Agency, Small Business Administration, Urban Institute, Office, Congress, of Housing, Urban, Bloomberg, Newsweek, L.A Locations: Hawaii, Maui, Hawaii's, Tennessee, Nashville, Florida, Wilsey, New Orleans, California, Puerto Rico, Lahaina, New York

They arrived in desperation, unable to find anything better, safer or cheaper in a city with a severe shortage of affordable housing. They settled in a trash-choked building owned and neglected by the city of Johannesburg, paying “rent” to criminals. Flames devoured a structure that overcrowding, security gates, mounds of garbage and flimsy subdividing had turned into a death trap. Some victims leaped from upper windows of the five-story building rather than burn to death. And these urban squatter camps are routinely “hijacked,” residents say, by organized groups demanding payment.

Persons: Mgcini Locations: Johannesburg, South

A sign is pictured outside the Bank of Canada building in Ottawa, Ontario, Canada, May 23, 2017. Interest rate futures are pricing in no change next week, but are nearly split over whether rates rise once more. In the latest poll, eight of 34 economists expect one more rate rise to 5.25% by the end of this year, compared with only one in a July poll. "We expect the Bank will hold the overnight rate steady at 5.00% through mid-2024 as the full impact of past rate hikes helps push the economy into a moderate recession. A scenario in which Canadian interest rates stay higher for longer could increase pressure on highly-indebted households, with almost 20% of Canadian mortgages due for renewal next year.

Persons: Chris Wattie, Claire Fan, Tony Stillo, We're, Sal Guatieri, BMO's Guatieri, Milounee Purohit, Prerana Bhat, Ross Finley, Paul Simao Organizations: Bank of Canada, REUTERS, BoC, Canada, RBC, Oxford Economics, U.S . Federal, BMO Capital Markets, Thomson Locations: Ottawa , Ontario, Canada, Canadian

☆ It’s not just crime: What’s really going on with San Francisco’s shrinking retail district
▼ + stars: | 2023-08-30 | by ( Samantha Delouya | ) edition.cnn.com time to read: +7 min

Mapping the exodusUnion Square has historically been a major commercial hub in the heart of San Francisco’s downtown. A complicated decline in downtownThe reasons for downtown San Francisco’s economic troubles are multi-faceted. In addition, San Francisco’s downtown has experienced a rise in its unhoused population. As San Francisco’s downtown area has emptied over the last three years, property crimes and retail thefts have risen, according to San Francisco Police Department data. Travel to San Francisco has yet to recover fully to pre-pandemic levels, according to data from San Francisco International Airport.

Persons: —, ”, Elon Musk, Tesla, Francisco, “, Lori Lincoln, San Francisco —, Lincoln, Breed, Alexander Quinn, Breed’s, Sarang Peruri Organizations: Los Angeles CNN, Lease, Google, city’s, Nordstrom, CNN, Westfield, San Francisco Centre, KGO, University of California, San Francisco Police Department, San Francisco International, San Francisco Travel, Tourism, San, Oxford Economics, Asia hasn’t, San Francisco Mayor London, Francisco’s, Oxford Capital Group, Ikea, IKEA Locations: Francisco’s, United States, San Francisco’s, Union, Westfield, San Francisco, San, California, Redfin, Palo Alto, Asia, Americas, Europe, Pacific, San Mateo, Lincoln, China, Downtown, Chicago

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