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☆ 'Thrown to the wolves': How private investors are jacking up rents and ripping off college students
▼ + stars: | 2023-09-20 | by ( James Rodriguez | ) www.businessinsider.com time to read: +19 min

The eye-popping numbers are part of a longer-term shift toward private college housing. Moody's Analytics recently warned of an "affordability crisis" for college students, noting that since 2019, rents for student housing in a sample of notable college towns had grown faster than those of regular apartments. Student housing goes privateThe gold rush in student housing is a relatively new phenomenon. Back in the 1980s and '90s, most college students either lived in bland, cinder-block-walled dorms or in conventional apartments farther from campus. Even with his frugality, he came to realize that the prices in West Campus were "impossible to rationalize" for a college student.

Persons: behemoth Blackstone, Evan Scope, UT Austin who's, Carl Whitaker, Austin Kristian Alveo, Whitaker, Mark Austin, Kristian Alveo, David Willson, Willson, Gina Cowart, Cowart, David Kanne, lounging, Ann, Kanne, Lu Chen, RealPage, Donald Cohen, Cohen, Graham Sowden, Dan Allen, Allen, Austin, James Rodriguez Organizations: Waterloo, University of Texas, Wall Street's, American, Communities, National, Housing, Evan Scope Crafts, UT Austin, University, UT, LV, UTs, Crafts, American Campus, HBO, West, haven't, State College ,, Moody's, Power, Middlebury College, University of Tennessee, Arizona State University, Urban Institute, Investors, Power Five, RREAF Holdings Locations: Austin, Wall, Waterloo, UT Austin, Rio, Villas, West, West Campus, Gainesville , Florida, Ann Arbor , Michigan, State College , Pennsylvania, Knoxville, South

☆ The Latest Cool Amenity? A Name Brand. How About Porsche?
▼ + stars: | 2023-09-15 | by ( Debra Kamin | More About Debra Kamin | ) www.nytimes.com time to read: +1 min

Chart a 10-mile path down the Miami coast, and the options for luxury shopping are endless. But from Fendi to Missoni to Porsche to Bentley, the branded products many shoppers are buying aren’t items you can take home. Branded real estate is surging: The market for name-brand luxury condominium units is projected to grow 12 percent each year between now and 2026, according to a report from the global real estate consultants, Knight Frank. Like blue jean makers and handbag designers, developers have long understood the power of a label, and today in nearly every major city, homeowners can shop residences from well-known hospitality brands like Four Seasons, Aman and Ritz-Carlton. Now more surprising brands are getting in on the trend, with purveyors of both luxury cars and couture looking to condos for their next frontier.

Persons: Knight Frank, jean, Aman, Armani Casa Organizations: Porsche, Bentley, Ritz, Carlton, Armani, Bentley Residences Locations: Miami, Fendi, Missoni, Dade County, British

☆ Republicans soften on federal marijuana reform in a shift that could make it a reality
▼ + stars: | 2023-09-15 | by ( Julie Tsirkin | Liz Brown-Kaiser | ) www.cnbc.com time to read: +8 min

The SAFE Banking Act would make it lawful for legal marijuana businesses to use major financial and banking institutions. Smart Approaches to Marijuana Action, a political organization opposed to marijuana legalization, urged Tuberville to oppose the legislation in a recent letter. Financial institutions, including small and community banks, have also put pressure on lawmakers, including Tuberville, to support the bill. There's been these attempts by the chairman of the Banking Committee to add a bunch of other stuff onto it, and I think that just completely torpedoes the chances." Ahead of his re-election campaign, President Joe Biden announced his intention to pardon federal convictions for simple marijuana possession offenses at the end of last year.

Persons: Chuck Schumer, We've, Sen, Steve Daines, Sherrod Brown, Kevin Cramer, Daines, Cramer, Dan Sullivan, Lisa Murkowski, Bill Cassidy of, Cynthia Lummis of, Rand Paul of Kentucky, Susan Collins of, Kevin McCarthy of California, McCarthy, Tommy Tuberville, Steve Stafford, Tuberville, Sullivan, Jeff Sessions, Trump, Sheriff Dan Springer, Springer, I've, Jeff Merkley, Jack Reed, It's, Cory Booker of, Dave Joyce, Alexandria Ocasio, Joe Biden Organizations: U.S, Capitol, Banking, Housing, Urban Affairs, SAFE, Republicans, Democrats, GOP, Auburn University, Smart, Senators, Republican, D.C, Sheriff, HOPE Locations: Ohio, GOP Sens, Alaska, Bill Cassidy of Louisiana, Cynthia Lummis of Wyoming, Susan Collins of Maine, Washington, Gallatin County , Montana, Montana, Cory Booker of New Jersey, R, Alexandria, Cortez

☆ The 2023 superyacht summer recap: Jeff Bezos is now king of the high seas
▼ + stars: | 2023-09-14 | by ( Madeline Berg | ) www.businessinsider.com time to read: +5 min

For billionaires and their celebrity friends, warm weather means it's yacht season. Four years later, Bezos is no longer Amazon's CEO, and he's spent the last few months earning a new title: king of the high seas. As 2023's yacht season comes to a close, it's clear that Bezos' brand new $500 million superyacht won the summer. AdvertisementAdvertisementYacht season's runner-up: billionaire Barry Diller's EosThe Eos, owned by Barry Diller and Diane von Furstenberg, is a yacht-season staple. The Eos docked in Venice to end its summer season, where von Furstenberg hosted the annual DVF Awards — and began furnishing one of her dry-land residences.

Persons: Jeff Bezos, David Geffen's, Goldman Sachs, Lloyd Blankfein, he's, superyacht, David Zaslav, Bezos, Koru, Lauren Sanchez —, —, that's, Sanchez, Bill Gates, Whitney Wolfe Herd, Ari Emanuel, Leonardo DiCaprio, Orlando Bloom, Katy Perry, Usher, Barry Diller's Eos, Barry Diller, Diane von Furstenberg, Horacio Villalobos, Eos, Diller, von Furstenberg, Oprah Winfrey, Gayle King, Edward Enninful, Valentino, Valentino Giancarlo Giammetti, Kris Jenner, Candice Bergen, Emma Thompson, Jason Blum, Diane Sawyer, Bryan Lourd, Giorgio Armani's, Sydney Sweeney, Kerry Washington, Geffen, it's Organizations: Service, Warner Bros, Discovery, Hollywood, Bezos, British Vogue, Creative Artists Agency, Geffen Locations: Wall, Silicon, Gibraltar, Spain, Cannes, Positano, Dubrovnik, Croatia, Mallorca, Greece, Amalfi, Venice, Venice's, Capri, Portland , Maine

☆ Some workers are super commuting to avoid relocating amid a push for employees to return to offices
▼ + stars: | 2023-09-13 | by ( Kylie Kirschner | ) www.businessinsider.com time to read: +4 min

Instead of relocating to be near their office, some workers are super commuting a few days a week. But some workers, forced to appear in person at the office, have taken commuting to the extreme — super commuting to the office hours away by plane. For some workers, especially ones who were hired remotely, a return to office would ostensibly mean relocating. AdvertisementAdvertisementBoeing CEO David Calhoun set an extreme — and much-criticized — example of extreme commuting. Are you being affected by return-to-office policies and considering an extreme commute?

Persons: David Calhoun, LOGAN CYRUS, Brian West, —, Frank Croasdale, Sophia Celentano, Celentano Organizations: Boeing, Ogilvy, Get, Service, Meta, Apple, Google, Employees, Wall Street Journal, Getty, Wall Street Locations: Wall, Silicon, Virginia, New Hampshire, South Carolina, Connecticut, Calhoun, West, California, Austin , Texas, Texas, Austin, Charleston, New Jersey

☆ A Bathtub in the Kitchen? Not a Problem for New Yorkers.
▼ + stars: | 2023-09-12 | by ( Jess Eng | ) www.nytimes.com time to read: +1 min

Many New York City renters will recognize this scenario: You’re on your fourth apartment tour of the day when a broker unlocks the front door and ushers you into the kitchen. Often used as an example of what New Yorkers must endure, navigating an eccentric kitchen has become an experience that unites lifelong residents and uninitiated transplants. After the passage of the New York Tenement House Act of 1901, all residences were required to install a sink and bathtub to meet the city’s sanitation standards. In tenements across the Lower East Side and East Village, bathtubs fit only in the kitchen, often the apartment’s largest room. Despite these quirks, New Yorkers have found ways to make do — and even fall in love with — their wacky kitchens.

Persons: Kitchens Organizations: New Locations: New York City, York, Side

He spoke with the acquaintance on a Ring doorbell camera, which captured his new clean-shaven look, but the person wasn’t home and did not respond to meet Cavalcante, Bivens said. That person was also not home but called police after a female resident saw the escaped inmate, according to Bivens. Cavalcante fled Chester County Prison within days of being sentenced to life without parole for the murder of his former girlfriend, 33-year-old Deborah Brandão. Chester County District Attorney/PA State PoliceSo far, all the reported sightings of Cavalcante have been in Chester County, where the prison is located. “We are obviously very concerned that Cavalcante has or will attempt to steal another vehicle to facilitate his escape,” Bivens said.

Persons: Danelo Cavalcante, Cavalcante, George Bivens, Bivens, ” Bivens, CNN’s Polo Sandoval, Deborah Brandão, ”, John Miller, van, ” Miller, he’s, –, Miller, “, Brandão –, – Cavalcante Organizations: CNN — Police, Ford Transit, Pennsylvania, Police, Attorney, CNN, Authorities, US Marshals Service, Pennsylvania State Police Locations: Pennsylvania, Chester, Philadelphia, Pikeland, Chester County, East Nantmeal Township, Longwood Gardens, Brazil

☆ World leaders visit Mahatma Gandhi's memorial as the G20 comes to a close
▼ + stars: | 2023-09-10 | by ( Rhea Mogul | ) edition.cnn.com time to read: +4 min

Indonesia's President Joko Widodo, India's Prime Minister Narendra Modi and US President Joe Biden at the Mahatma Gandhi memorial at Rajghat in New Delhi on September 10, 2023. When India won its independence from the British in 1947, right-wing Hindu nationalists rallied for the carving of British India into two separate states: Hindu-majority India and Muslim-majority Pakistan. Gandhi, on the other hand, was against the country’s partition, instead advocating for a united India of all faiths. At the same time, the BJP and its supporters have been accused of downplaying the legacy of India’s first prime minister, Jawaharlal Nehru, a longtime Gandhi admirer and ally. Modi has condemned Godse’s worship and continuously praised and paid his respect to Gandhi, both inside and outside of India.

Persons: CNN — Narendra Modi’s, Mohandas K, Gandhi, India’s, Modi, Joe Biden, Rishi Sunak, ” Modi, Joko Widodo, Narendra Modi, Kenny Holston, Nathuram Godse, Jawaharlal Nehru, Godse’s, Mahatma Gandhi, ”, Gandhi Ji Organizations: CNN, British, India's, Getty, Bharatiya Janata Party, BJP, Rashtriya Swayam Sangh, India, RSS Locations: New Delhi, Gujarat, India, Rajghat, Pakistan

If you’re ever in New Delhi and think you hear a monkey, don’t assume it’s a monkey. It could be a professional monkey noise impersonator. That’s because humans have been trained to imitate the guttural grunts and shrieks of gray langurs, a type of large monkey that can scare away the smaller kinds that tend to invade city officials’ residences or disrupt state visits. This weekend, the impersonators will take on a fresh challenge: keeping monkeys, which often evade guards by swinging through tree canopies, from barging into venues for the Group of 20 summit of world leaders, the first to take place in India. The event is an important one for India on the global stage, and the government does not want monkeys to steal the spotlight.

Organizations: Group Locations: New Delhi, barging, India

The mainland port city of Volos, the surrounding mountainous Pelion area and the cities of Karditsa and Trikala were among the worst-hit areas. Civil Protection Minister Vassilis Kikilias said during a press briefing on Thursday that six people had been reported missing in the area of Karditsa. A senior fire brigade official told Reuters that the body of a man was found in the town of Domokos. [1/5]Locals are evacuated on a boat by volunteers, as storm Daniel hits central Greece, in Farkadona, Greece, September 7. Flash floods in Greece in 2017 killed 25 people and left hundreds homeless.

Persons: Daniel, Kyriakos Mitsotakis, Pavlos Marinakis, Marinakis, Vassilis Kikilias, Kostas Mantziaris, Palamas, Giorgos Sakellariou, Vasilios Vathrakogiannis, Lefteris Papadimas, Angeliki Koutantou, Renee Maltezou, Alex Richardson Organizations: Civil, Reuters, REUTERS, coastguard, Thomson Locations: Greece, Volos, Karditsa, Trikala, Thessaly, Domokos, Farkadona, Palamas, Agia Triada, Skiathos

☆ Senators take up looming insurance crisis as policy issuers flee Florida and California
▼ + stars: | 2023-09-07 | by ( Chelsey Cox | ) www.cnbc.com time to read: +1 min

View of a damaged property after the arrival of Hurricane Idalia in Horseshoe Beach, Florida, August 31, 2023. Persistent weather events have led to rate increases and reductions in coverage offered, often overburdening low-income residents. The average cost of property insurance has soared in recent years, according to an analysis by credit rating firm S&P Global Ratings. "Without insurance, millions of families will be at greater risk for climate crises," Sen. Elizabeth Warren, D-Mass., a member of the committee, said during the hearing. "And as whole communities lose access to insurance, the impact is going to be felt all the way through our economy."

Persons: WASHINGTON —, Michelle Norris, Norris, Sen, Elizabeth Warren Organizations: WASHINGTON, National Church Locations: Horseshoe Beach , Florida, Florida , California

WASHINGTON, Sept 5 (Reuters) - The U.S. Federal Deposit Insurance Corporation (FDIC) is seeking buyers for the $33 billion commercial real estate (CRE) loan portfolio of failed New York lender Signature Bank, it said on Tuesday. The majority of the portfolio comprises multi-family properties primarily located in New York City, the regulator said, adding that it would be marketing the asset over the next three months. Within the CRE portfolio is about $15 billion of loans secured by residences that are rent stabilized or controlled. New York City and State housing authorities, as well as community groups, are providing input to the FDIC as it begins marketing. The FDIC said it expects to complete any portfolio sales by the end of 2023.

Persons: Michelle Price, Pete Schroeder, David Goodman Organizations: U.S, Federal Deposit Insurance Corporation, Signature Bank, FDIC, York Community Bancorp, New, Thomson Locations: New York, New York City, State

Washington CNN —The three US military service secretaries went on the offensive against Republican Sen. Tommy Tuberville over his ongoing hold on senior military nominations in an interview with CNN on Tuesday, saying he is aiding communist and autocratic regimes, and being used by adversaries like China against the US. “That is what the American people truly need to understand.”“It is just unprecedented to be attacking apolitical general officers and flag officers in this way. But placing a blanket hold on all general and flag officer nominees, who as apolitical officials have traditionally been exempt from the hold process, is unfair to these military leaders and their families. It is time to lift this dangerous hold and confirm our senior military leaders.”“Chuck Schumer could confirm all of the service chiefs in one day—but he refuses. Wormuth said Tuesday that she’s worried the hold will impact morale among lower-ranking officers.

Persons: Republican Sen, Tommy Tuberville, Frank Kendall, CNN’s Jake Tapper, Carlos Del Toro, Christine Wormuth, ” Kendall, “, ”, ” Del Toro, Del Toro, Wormuth, ” Wormuth, Chuck Schumer, ” Steven Stafford, Tuberville, ” Tuberville, Mitch McConnell, C.Q . Brown, Joe Biden, Mark Milley, she’s Organizations: Washington CNN, Republican, CNN, ” Air Force, an Air Force, “ Senators, Biden, Pentagon, Department, Joint Chiefs of Staff, Air Force, Army, Marine Corps, Missile Defense Agency Locations: China, United States, Washington ,, Cuba, Washington, Alabama

☆ 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

☆ In Detroit, a Tiny Home Generates a Big Controversy
▼ + stars: | 2023-09-04 | by ( Allan Lengel | ) www.nytimes.com time to read: +1 min

The Tiny Homes, as they’re known, were built by a nonprofit group and have marble shower stalls, granite kitchen countertops and solar panels. They are intended for low-income residents who pay monthly rent of $1 per square foot, plus electricity, with the option to own the home outright after seven years. To date, there are 25 in a three-block area, occupied by residents that include seniors and people formerly homeless and incarcerated, and who earn as little as $7,000 annually. The first set opened in 2017, and construction is slated to begin this fall on a half dozen or so houses on a patch of empty land nearby. The project, which is owned and operated by Cass Community Social Services of Detroit, has been built through fund-raising from foundations and private donors, including rocker Jon Bon Jovi.

Persons: Jon Bon Jovi Organizations: Cass Community Social Services of Locations: Cass Community Social Services of Detroit

☆ 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

☆ Sen. Ted Cruz is worth at least $2.6 million, according to financial disclosures
▼ + stars: | 2023-09-03 | by ( Brent D. Griffiths | ) www.businessinsider.com time to read: +5 min

Heidi Cruz, his wife, is wealthy in her own right too. Advertisement Advertisement Watch:Vice President Mike Pence swears Republican Sen. Ted Cruz of Texas in after his 2018 reelection while Heidi Cruz and their daughters look on. Heidi Cruz also holds at least another $500,001 in her own mutual fund. "In 2022, Sen. Cruz was a member of the Commerce Committee along with 12 other Republicans. Cruz later attacked his neighbors after someone leaked Heidi Cruz's text messages to their neighbors mentioning the trip.

Persons: Sen, Ted Cruz, Cruz, Heidi Cruz, Republican Sen, Ted Cruz of, Trump, Donald Trump, Mike Pence, Alex Edelman, Goldman Sachs, Maria Cantwell, Heidi, Beto O'Rourke, Colin Allred Organizations: Service, Republican, Texas Republican, Senate, Exxon Mobil, Enterprise Products, Senate Commerce Committee, Commerce, Bank of America, Texans, Democratic, NFL Locations: Wall, Silicon, Ted Cruz of Texas, America, Houston, Cancun , Mexico

☆ Peru tears down Lima 'wall of shame' but wealth divide stays strong
▼ + stars: | 2023-09-01 | by ( ) www.reuters.com time to read: +2 min

[1/5] The remains of a 4.5-kilometer wall, separating luxurious estates from a neighboring community living in poverty, are pictured as it is being torn down, in Lima, Peru August 31, 2023. REUTERS/Sebastian Castaneda Acquire Licensing RightsLIMA, Sept 1 (Reuters) - A 4.5-kilometer "wall of shame" separating luxurious estates in Peru's capital Lima from neighboring communities living in poverty is being torn down after some four decades, though divisions remain strong. The group was largely destroyed in the 1990s, but the wall dividing La Molina and the poorer Villa Maria del Triunfo remained and has grown in size. Francisco Dumler, the municipal manager of the La Molina, said residents would comply with the ruling but the demolition could take time due to unforeseen costs. La Molina boasts lush parks and large residences that can cost several millions of dollars.

Persons: Sebastian Castaneda, Gustavo Gutierrez, La Molina, Villa Maria del Triunfo, Francisco Dumler, Molina, Anthony Marina, Carlos Valdez, Marco Aquino, Sarah Morland, Nick Zieminski Organizations: REUTERS, Rights, La, Villa Maria, Thomson Locations: Lima , Peru, Peru's, Lima, La

☆ Historic war office used by Winston Churchill is transformed into luxury Raffles London hotel
▼ + stars: | 2023-08-31 | by ( Tamara Hardingham-Gill | ) edition.cnn.com time to read: +6 min

But in a few weeks time, the former Old War Office in London, Whitehall will finally open its doors after a multi-million-dollar transformation. Previously home to the operations of military leaders like Winston Churchill, the property has been reinvented as the UK’s first Raffles hotel, with luxurious rooms starting at £1,100 (around $1,392) per night. Monumental buildingA rendering of luxury hotel Raffles London at The OWO, located at the former home to the war offices of military leaders such as Winston Churchill. And according to Jill O’Hare, director of sales and marketing for Raffles London, there was as much restoration as there was construction during the extensive process of transforming the historic building into a luxury hotel. Steeped in historyThis grand staircase is one of the standout features at Raffles London at The OWO, which is scheduled to open in late September.

Persons: London CNN — It’s, Winston Churchill, London’s, Thierry Despont, Ian Fleming, James Bond, Armenian hoteliers, Sir Stamford Raffles, ” Philippe Leboeuf, Jill O’Hare, ”, Churchill, Granville, Christine Granville, Krystyna Skarbek, Raffles, “, Mauro Colagreco, Endo Kazutoshi, Leboeuf Organizations: London CNN, Raffles, British Naval Intelligence, CNN Travel, Raffles London, Army, Horse Locations: London, Whitehall, Raffles London, French, Armenian, Singapore, Polish, Argentine, Mayfair, Buckingham

☆ A century before Silicon Valley billionaires pitched a brand new city in this California county, wealthy businessmen tried — and failed — to do the same thing
▼ + stars: | 2023-08-31 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +4 min

A group of Silicon Valley investors are planning to build a city in Solano County. The project, Solano City, failed as money ran dry and investors couldn't attract enough buyers. "The Market is TWO HOURS AWAY," one advertisement read, pointing an arrow from San Francisco to Solano City. Solano Irrigated Farms was soon unable to keep up with bills, and "Solano City died almost overnight," according to the historical database. Remnants of Solano City in progress can be seen in the county, Paul said.

Persons: Flannery, Patrick Calhoun, John Calhoun, Bil Paul, Paul, Solano, They're Organizations: Service, Silicon, Sacramento —, Flannery Associates Locations: Silicon, Solano County, Solano City, Wall, Solano County —, San Francisco, Sacramento, Dixon, Washington, San Francisco Bay, California, Solano, Farms, City

☆ 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

☆ 2 millennials who have bought a combined 22 properties with friends and family explain how they got into real estate without waiting on a spouse
▼ + stars: | 2023-08-29 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +7 min

Two millennials who bought homes with friends say "houses before spouses" is the way to go. They bought a beach house, lake home, and ranch house with friends, which they use for vacations. Since then Modares has purchased eight properties with friends and family that have variously served as rental properties and primary residences. Modares and Douglass run a "buying with friends" minicourse to encourage clients to explore less-conventional real-estate partnerships. AdvertisementAdvertisementThe critical part of homebuying with friends, they said, is the operating agreement, which outlines the terms and conditions of a real-estate partnership.

Persons: Kristina Modares, didn't, Modares, Steph Douglass, Douglass, minicourse, they're, homebuying Douglass, Austin's, She's, they've, that's, she'd, she's, — Douglass, they'd Organizations: Service, Open House Austin, Nationwide Locations: Wall, Silicon, San Antonio, Austin, Florida, homebuying, Airbnb

☆ Inside Tampa's plan to build more affordable housing as the city's popularity explodes
▼ + stars: | 2023-08-24 | by ( Kelsey Neubauer | ) 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. Those worries are pushing the city to look for ways to get developers to build more housing — including affordable units, Tampa Mayor Jane Castor told Insider. In order to ease the hardships that some residents are facing, Castor said the city is incentivizing developers to increase housing supply generally. An influx of residents has helped drive up housing prices Tampa. Typically, such arrangements let builders move ahead with projects if development plans include affordable or workforce housing.

Persons: Jane Castor, somethings, Castor, it's, Walter Bibikow Organizations: Service, Tampa, Getty Images Locations: Tampa, Florida, Wall, Silicon, Austin , Texas, San Francisco, Rent.com, Clearwater Beach, Ixefra, Getty Images Tampa

☆ $68 Million Property for Sale on Exclusive Star Island, Miami: Photos
▼ + stars: | 2023-08-24 | by ( Gabbi Shaw | ) www.businessinsider.com time to read: +1 min

A property on Miami's celebrity-approved Star Island is on the market for $68 million. The property also has a 1920s-era guest house — reportedly the first residence built on the island. 27 Star Island Drive is one of 35 residences on Miami's Star Island, a small island in the southeast corner of Biscayne Bay, according to listing agent Douglas Elliman. The property includes two buildings: a modern house completed in 2019, and a 1920s guest house, which was built by renowned Miami architect Walter De Garmo as the first residence on Star Island, Robb Report reported. Take a look inside this waterfront property.

Persons: —, — they'll, Douglas Elliman, It's, Walter De Garmo, Robb Organizations: Service, Miami Locations: Wall, Silicon, Biscayne Bay

☆ Sarah Paynter — Reporter at The Wall Street Journal
▼ + stars: | 2023-08-23 | by ( Sarah Paynter | Libertina Brandt | ) www.wsj.com time to read: 1 min

Sarah PaynterSarah Paynter is a reporter covering luxury residences for The Wall Street Journal’s Mansion section. She writes about listings and sales of high-priced houses, specializing in transactions on the east half of the U.S., from Greenwich, Conn., to Savannah, Ga., to Chicago. She also spotlights amenity and design trends in luxury houses and chronicles changes in luxury markets. Sarah has bylines at Yahoo Finance, the Real Deal, the New York Post and Newsday. She graduated from Columbia University’s Graduate School of Journalism with the Philip Greer Award for excellence in financial journalism.

Persons: Sarah Paynter Sarah Paynter, Sarah, Philip Greer Organizations: Yahoo Finance, New York Post, Newsday, Columbia University’s Graduate School of Journalism Locations: U.S, Greenwich, Conn, Savannah, Ga, Chicago

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