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☆ JD Vance says pumping more oil will make housing cheaper. Economists say that's a stretch.
▼ + stars: | 2024-11-01 | by ( Eliza Relman | ) www.businessinsider.com time to read: +6 min

Both presidential campaigns have discussed ideas for cutting housing costs. Economists say lowering labor and building material costs is far more important to home building. Housing policy experts and economists disagree, saying lower energy costs would not significantly boost construction or make homes cheaper. Notably, under the Biden administration, the US has produced and exported more crude oil than ever before in the country's history, even as housing costs have soared. AdvertisementLabor costs and cutting red tape are also keyLabor costs are generally growing as a portion of overall construction costs, Basu said.

Persons: JD Vance, Trump, —, Donald Trump, Sen, Vance didn't, I'm, Anirban Basu, they're, Basu, Biden, Andrew Justus, Justus, might've, Vance, Nolan Gray, they'll, hasn't, Kamala Harris Organizations: Service, Biden, Associated Builders and Contractors, Trump, Niskanen, Labor Locations: Nevada, California

☆ Vance’s selection solidifies Trump’s hold over the GOP
▼ + stars: | 2024-07-24 | by ( Ronald Brownstein | ) edition.cnn.com time to read: +18 min

It’s just a decisive move toward America First on foreign policy.”Trump’s selection of Vance is one of the clearest barometers of the former president’s tightening hold over the GOP. Those included Christian conservatives, the business community, congressional insiders and traditional Republican foreign policy hawks shaped by Ronald Reagan’s vision of the US as the muscular leader of the free world. Instead, with Vance, Trump chose an acolyte and potential successor who could deepen and extend the direction the former president has set for the party. Vance has been most unequivocal in criticizing the internationalist approach to foreign policy centered on robust alliances. With the selection of Vance, Trump has broadcast his belief that he has conclusively won the internal GOP debate over all aspects of US interactions with the world – foreign policy, immigration and trade.

Persons: Ohio Sen, JD, Donald Trump’s, Republican Party’s reorientation, Vance, Trump, Trump’s, ”, Bill Kristol, “, It’s, Mike Pence, Ronald Reagan’s, Geoffrey Kabaservice, Dwight Eisenhower, Sen, Robert Taft, Taft, Richard Nixon, Ronald Reagan, George W, Bush, John McCain, Mitt Romney –, Patrick J, Buchanan’s, George H.W, George H.W . Bush, John Bolton, Bolton, James Mattis, Mark Esper, State Rex Tillerson, Mike Pompeo, Ivo Daalder, Barack Obama, Richard Fontaine, Republican Sen, Fontaine, “ Vance, Matthias Matthijs, Vance’s, Ohio Republican unreservedly, Donald Trump, ” Vance, Steve Bannon, Joe Biden, Adam Kinzinger, He’s, he’s, Biden, ” Trump, Vladimir Putin, Volodymyr Zelensky, ” Daalder, ” Matthijs, Putin, Aaron Friedberg, Gabriel Schoenfeld, Nikki Haley, Reagan, Haley Organizations: CNN, Ohio, Republican, GOP, Trump, America, New, Niskanen Center, Republican Party, American Free Trade, NATO, ”, H.R, McMaster, Defense, State, Chicago Council, Global Affairs, Center, New American Security, Johns Hopkins ’ School, International, Senate, Ohio Republican, NAFTA, Fox News, Air Force, National Guard, Businessweek, Taiwan, Biden, Chicago, South Carolina Gov, Ukraine Locations: New York, mollifying, Europe, Soviet Union, China, Canada, George H.W ., Asia, Ukraine, New American, Russian, Johns, America, Pennsylvania, Michigan, Israel, Taiwan, Vietnam, Afghanistan, Iraq, Milwaukee, Moscow, ”, Wisconsin, Mexico ”, Kabul, Kyiv, Trump

☆ The Real Reason Employers Are Refusing to Hire America's Young Men
▼ + stars: | 2024-05-30 | by ( Emily Stewart | ) www.businessinsider.com time to read: +7 min

America's young men aren't working. The effect was driven almost entirely by young men: Unemployment went up by 2.7 percentage points for young men but by only 0.1 percentage points for young women. AdvertisementEmployers might also see young men as riskier to bring on board. Fairly or unfairly, there's a stereotype that young men are more volatile, more immature, and less responsible than their female counterparts. As for why so many young men aren't working, it's a doozy.

Persons: they're, willy, it's, Matt Darling, Darling, —, aren't, There's, Emily Stewart Organizations: Social Security, Niskanen, Unemployment, Lawmakers, Capitol, Business Locations: Washington, Oregon

☆ The Broken System That Keeps Young American Men From Getting a Job
▼ + stars: | 2024-05-30 | by ( Emily Stewart | ) www.businessinsider.com time to read: +7 min

☆ Canada's First Nations are building the densest neighborhood in the country by reclaiming their ancestral land and defying NIMBYs
▼ + stars: | 2024-03-27 | by ( Eliza Relman | ) www.businessinsider.com time to read: +10 min

AdvertisementMindy Wight, CEO of the Squamish development group building Sen̓áḵw, called it "the creation of a modern Squamish village" in an interview with Business Insider. Canada's federal auditor general recently condemned a "distressing and persistent pattern of failure" by federal programs designed to support First Nations housing and infrastructure, among other services. The housing projects aren't the only major developments underway on indigenous land in Canada. There are no housing or infrastructure developments on US tribal land that match the scale of the First Nations projects in Canada. While some Native American tribes have spearheaded significant housing projects, most indigenous-owned land in the US isn't in the most valuable housing markets.

Persons: —, it's, Mindy Wight, Sen̓áḵw, Brennan Cook, Cook, Heather, reaps, Elisa Campbell, Jericho, Campbell, Heather Lands, Sen̓áḵw, Gordon Price, Price, Tyler Harper, aren't, Michelle Cyca, Alex Armlovich, Armlovich, Noah Smith Organizations: Service, Nations, First Nations, Business, Nation, MST, Corporation, MST Development Corporation, Vancouver City, Canada Lands Company, Energy, Technologies, British Columbia, CBC Vancouver, Bates, Niskanen Locations: Canada, Vancouver, Squamish, Squamish Nation, Wight, Jericho, British, American, MacLean's, Canadian

☆ The Trapped Economy: Americans Can't Buy a Home, Car, or Find a New Job
▼ + stars: | 2024-03-20 | by ( Emily Stewart | ) www.businessinsider.com time to read: +7 min

If you like your situation right now — your job, your house, your car — you can keep it. The labor market has cooled off somewhat, making it less advantageous to hunt for a new job. The car market is in a similar situation. Employers are hiring as if there's a relatively weak labor market, not a strong one. Yes, the labor market is strong, but it's not a great time to go looking for a new job.

Persons: Joanne Hsu, there's, they're, —, Dana Peterson, that's, it's, Matt Darling, Darling, Tamara Charm, Charm, Emily Stewart Organizations: University of Michigan, Labor Statistics, Conference Board, Companies, Employers, Niskanen, McKinsey, Business

☆ How millennials could give the suburbs a much-needed makeover
▼ + stars: | 2024-02-11 | by ( Eliza Relman | ) www.businessinsider.com time to read: +9 min

The suburbs are home to the vast majority of Americans, including millennials priced out of cities. AdvertisementThese days, the American suburbs are seeing something of a revival after a few decades of the back-to-the-city movement, in which mostly young people flocked to urban centers. The rise of remote work coupled with the soaring costs of urban housing has pulled, or pushed, lots of millennials and others to the suburbs and even far-flung exurbs. Exclusive, isolating, and inconvenient suburbsThe American suburbs have always been flawed in a host of ways. Kotkin says the American suburbs have “won the battle” with cities, reigning as the more economically and demographically dominant place.

Persons: —, ”, Andrew Justus, ” Justus, “ We’ve, Adie Tomer, Tomer, Joe Sohm, Joel Kotkin, Kotkin, “, ” Tomer, Tayana Panova, ” Panova Organizations: Service, Niskanen, Brookings Institution, MIT, Chapman University, National Review, metros Locations: American, it’s, Paoli , Indiana, America’s, Somerville , Massachusetts, Shaker Heights , Ohio, Orange , California, Bronxville, Westchester County, Woodlands, Texas, Houston, ”, walkable, Suburban

☆ Homes made in factories were supposed to save us from the housing crisis, but the companies that make them are failing
▼ + stars: | 2024-01-14 | by ( Eliza Relman | ) www.businessinsider.com time to read: +7 min

But the world of modular housing, which includes multi-unit apartment buildings and conventional-looking houses, is littered with companies that have gone bust. AdvertisementThese restrictive policies often reflect the lingering perception that factory-built homes are inferior to traditional housing, Erlich said. Investors aren't convinced there's sufficient and consistent demand for modular housing in most markets. They tend to be run by people with deep experience in the construction industry, Erlich said. AdvertisementDo you work in the modular housing industry?

Persons: —, Mark Erlich, Katerra, Erlich, Andrew Justus, Justus, Biden, aren't, there's Organizations: Service, New England Regional, of Carpenters, Urban, Niskanen, of Housing, Motors, Avana, Factory, New York Times Locations: Silicon, California, Brooklyn, Manhattan, San Francisco Bay

Ambassador Nikki Haley failed last month to mention slavery as the root cause of the Civil War. “Let me be clear, for those who don’t seem to know: Slavery was the cause of the Civil War,” he said. Chris Christie, who suspended his campaign on Wednesday, referenced the Civil War with a word of caution to Republican voters. The last time they were that relevant was the Civil War — which we know was caused by slavery,” Christie said. The intra-party jabs echo a broader debate over the legacy of the Civil War for policymaking today.

Persons: Ron DeSantis, Nikki Haley, Donald Trump, “, ”, Jeff Kaufmann, Joe Biden’s, Biden, Kamala Harris, DeSantis, Kaufmann, Abraham Lincoln, Paul Peterson, Peterson, Haley, Carolina Sen, Tim Scott, —, Chris Christie, Benjamin Franklin, Christie, ” “ Benjamin Franklin’s, ” Christie, Eric Foner, Geoff Kabaservice, Kabaservice, ” Foner, ____ Matt Brown Organizations: WASHINGTON, —, Republicans, Florida Gov, GOP, Party of, Reconstruction, ” Iowa Republican, Republican, Mother Emanuel AME Church, Florida Republicans, Iowa GOP, Republican Party, Education, Harvard University, Democrats, Trump, Former New Jersey Gov, Columbia University, Niskanen, AP Locations: Florida, Party of Lincoln, Iowa, Charleston , South Carolina, Carolina, “, America, American

☆ A millennial couple who moved from Baltimore to Florida explain why they bought a $65,000 mobile home as their starter house
▼ + stars: | 2024-01-10 | by ( Eliza Relman | ) www.businessinsider.com time to read: +6 min

Mobile homes — a type of manufactured house — are a more affordable option for many. Jess Carpenter and her family are living in and renovating their mobile home in Sarasota, Florida. Housing advocates want to get rid of many regulations that bar manufactured homes from communities. AdvertisementJess Carpenter and her husband had never considered living in a mobile home when they moved from Baltimore to Florida in April 2022. In many states, mobile homes are categorized like cars or boats and don't qualify for home mortgages.

Persons: Jess Carpenter, —, Carpenter, Ringling, They've, Andrew Justus, Biden Organizations: Housing, Service, Carpenters, Sarasota, Sunshine State, Niskanen, of Housing, Urban Locations: Sarasota , Florida, Baltimore, Florida, Sarasota, Levittown

☆ NYC and its suburbs won't build new housing, so New Yorkers are flooding into Jersey City and driving up prices
▼ + stars: | 2023-09-30 | by ( Eliza Relman | Noah Sheidlower | ) www.businessinsider.com time to read: +9 min

But prices are shooting up in Jersey City as its neighbors refuse to build. AdvertisementAdvertisementNew Yorkers have been taking notice of Jersey City real estate for years, and its popularity as an alternative to the ever-less-affordable housing market in the city is growing. Between 2010 and 2018, Hudson County, which includes Jersey City, built housing at more than twice the rate that New York City did. New housing in Jersey City is overwhelmingly market rate rather than being explicitly built as affordable housing for lower- and middle-income residents. "The issues facing Jersey City tenants are multifaceted, but the primary concern is to guarantee housing stability."

Persons: —, Steven Fulop, Alex Armlovich, Armlovich, Noah Sheidlower, Amy Klein, Klein, Isaac Jiménez, It's, Goldman Sachs, Abdul Rehman Khan, Jiménez, Fulop, That's, Rich Boggiano, Khan Organizations: Apple, Service, Jersey, Jersey City, New, Niskanen, realtors, Big Apple, Research, Jersey City . Financial, Seton Hall Law's Center for Social Justice Locations: Jersey City, The North Jersey, Jersey, Hudson County, York City, New York, North New Jersey, Newark, Elizabeth, Manhattan, Brooklyn, New York City, Hudson, New York City , Westchester, Long, New Jersey

☆ Social Security, Medicare reform fight shows divisions among Trump, DeSantis and Pence
▼ + stars: | 2023-06-08 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +9 min

DeSantis has since reversed himself, assuring in recent months that Republicans are "not going to mess with Social Security." Tens of millions of U.S. seniors depend on Social Security and Medicare benefits, and that number is growing as the population ages. Strong majorities of U.S. adults across the political spectrum consistently say they oppose cutting Medicare and Social Security benefits. But many others, including party leaders, have bristled at accusations that the GOP wants to gut Social Security and Medicare. "Social Security, I would do the same thing," he added.

Persons: Mike Pence's, Ron DeSantis, Pence, Donald Trump, Trump, Joe Biden, DeSantis, Trump pollster, Donald Trump's, Steven Teles, Teles, Andrew Caballero, reynolds, We're, Nikki Haley, South Carolina Sen, Tim Scott, meanwhile, Biden, Sen, Rick Scott, Mitch McConnell, Scott's, Kevin McCarthy, Steve Scalise, Elise Stefanik, Jonathan Ernst, Andrew Bates, Paul Ryan, Ryan, Mitt Romney's, Barack Obama, Lady Casey DeSantis, Peter Zay Organizations: Social Security, Republican, Florida Gov, GOP, Great Society, White, Republican Party, Johns Hopkins University, Niskanen, Team Trump Volunteer Leadership, Grimes Community, AFP, Getty, Social, Medicare's, Insurance, Former South Carolina Gov, Republicans, Senate, U.S . Rep, U.S, Capitol, Reuters, Anadolu Agency Locations: Grimes , Iowa, South Carolina, Ky, Washington , U.S, Congress, Lexington, SC

☆ One of the most important conservative think tanks is changing its tune on the free market and state power to keep up with the 'New Right' ushered in by Trump and DeSantis
▼ + stars: | 2023-04-16 | by ( Ethan Dodd | ) www.businessinsider.com time to read: +7 min

A recent report published by the think tank outlines how government could play a greater role in the economy. The foundation is trying to keep up with American right's turn away from free markets with Trump and DeSantis. On the other side are libertarian conservatives like Sen. Rand Paul who opposes interfering with free markets. The Reaganite fusion of free markets, social traditionalism, and anti-communism "is fundamentally dead," Geoff Kabaservice, vice president of political studies at the market-oriented think tank Niskanen Center, told Insider. Heritage's president, Kevin Roberts, took over in 2021 and has aligned the think tank much more with the New Right, which is home to figures like Florida Gov.

☆ Conservatives scoff at Trump's 'leftist plan' to build 10 new American cities featuring flying cars
▼ + stars: | 2023-03-19 | by ( Eliza Relman | ) www.businessinsider.com time to read: +7 min

Trump recently announced a plan to build up to 10 new American cities on federal land. But some right-wing critics have attacked it as a "leftist plan" to create walkable "15-minute cities." Fox News left its in-house comedian, Greg Gutfeld, to handle the coverage of Freedom Cities. A conservative member of the UK parliament recently called 15-minute cities an "international socialist concept" that "would take away your personal freedoms." But Freedom Cities don't sound like 15-minute cities at all.

☆ As Supplemental Security Income turns 50, some are calling for the program's outdated rules to change
▼ + stars: | 2022-10-30 | by ( Lorie Konish | ) www.cnbc.com time to read: +2 min

Fg Trade | E+ | Getty ImagesA key federal program providing benefits to elderly, blind and disabled people — Supplemental Security Income — is turning 50 years old. The program, which currently serves nearly 8 million beneficiaries, was created by legislation signed by President Richard Nixon on Oct. 30, 1972. But even as Supplemental Security Income — called SSI for short — provides crucial income for adults and children with disabilities and elderly individuals, its benefits and requirements have gone decades without major updates. That's despite the fact the population served by Social Security is eight times the size of SSI. (To be sure, some beneficiaries receive both Social Security and SSI, though their benefits are reduced for doing so.)

☆ Democrats want to bring back Biden's child tax credit soon — and a new report shows it was a huge success in fighting child poverty
▼ + stars: | 2022-09-14 | by ( Joseph Zeballos-Roig | Madison Hoff | Jason Lalljee | ) www.businessinsider.com time to read: +5 min

The expanded child tax credit helped slash child poverty by roughly half, and some Dems want to bring it back. "This was a historic achievement to reduce child poverty by a record amount driven by the expansion of the child tax credit." He added that given the expanded child tax credit has expired, "the challenge now is for the Congress to extend it." Some Democrats want to bring back the expanded child tax creditThe enhanced child tax credit provided up to $300 monthly checks per kid to parents for six months. Without measures like the expanded child tax credit, poverty likely increased in 2022.

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