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☆ A couple transformed an 150-year-old abandoned farmhouse in rural Japan into an Airbnb. Here's how they built their country homestead.
▼ + stars: | 2023-05-21 | by ( Eliza Relman | ) www.businessinsider.com time to read: +3 min

Byron and Kaori Nagy have fully renovated a 150-year-old unoccupied farmhouse an hour outside Tokyo. Byron, who's originally from New Jersey, also created a farm on land nearby. They've also spent between $300,000 and $400,000 building a new home in the traditional Japanese style. Top editors give you the stories you want — delivered right to your inbox each weekday. "It's easier today to live in this country than it's ever been," Allen said.

☆ The homeowner basics of financing solar power for residential real estate
▼ + stars: | 2023-05-21 | by ( Cheryl Winokur Munk | ) www.cnbc.com time to read: +11 min

There are a host of complicated issues in the solar market, including some contentious politics. Last year, the growth of residential solar in the U.S. boomed. It won't repeat that in 2023, but will remain a large part of the solar market. Ohio, for example, has a state program that offers a reduced rate on a solar loan with certain lenders. GoodLeap (26% of the residential solar market) was No.

☆ A 46-bedroom Texas mansion that nobody wanted, sat abandoned for decades, and nearly got bought 20 times finally has tenants
▼ + stars: | 2023-05-19 | by ( Jordan Pandy | Dennis Green | ) www.businessinsider.com time to read: +2 min

A 63,000-square-foot mansion near Houston, Texas, has sat vacant for more than 20 years. Owner Jim Youngblood tried to sell the vacant home more than 20 times, but every deal fell through. In 2007, Youngblood, a partner at a local leasing and property management company, bought the abandoned mansion for $525,000. ("Everybody has these grand ideas," Youngblood told Realtor.com in 2016, "but they don't have any money.") "I held onto it for several years and had it under contract over 20 times," Youngblood told the Houston Chronicle, "but nobody could get it closed."

☆ Office landlords are in store for retail redux
▼ + stars: | 2023-05-19 | by ( Jennifer Saba | ) www.reuters.com time to read: +3 min

NEW YORK, May 19 (Reuters Breakingviews) - Office landlords are in store for pain, but there’s a light at the end of the hallway. Though vacancy rates in the United States recently hit a 30-year high, owners of retail space – shopping malls and grocery stores – have shown that a bounce back is possible. A reset is in store, but the best office landlords can make it, too. But retail real estate, which includes everything from malls to shopping centers, went through its own misery. It might be a slog, as retail shows, but office could be in store for a redux.

☆ Sam Zell, billionaire real estate investor, dies at 81
▼ + stars: | 2023-05-18 | by ( Niket Nishant | ) www.reuters.com time to read: +2 min

[1/3] Sam Zell, Chairman of Equity Group Investments, speaks during the Milken Institute Global Conference in Beverly Hills, California, U.S., May 1, 2017. Born in 1941 to Polish parents who escaped to the United States during the German invasion of Poland, Zell took a deep interest in real estate very early on. Besides real estate, his firm also invested in manufacturing, travel, retail, healthcare and energy businesses. Zell played a key role in popularizing the structure of real estate investment trusts (REITs) that involved leasing and collecting rent on properties and distributing profit to investors as dividend in the 1990s. It was later sold to asset management giant Blackstone Inc (BX.N) for $39 billion in one of the largest real estate deals ever.

☆ Manhattan rents reach (another) record high
▼ + stars: | 2023-05-18 | by ( Anna Bahney | ) edition.cnn.com time to read: +2 min

Washington, DC CNN —While rents are cooling in some parts of the United States, the cost to rent a Manhattan apartment hit a record high for the second month in a row. That’s up 8% from a year ago and up 1.6% from March, when rents hit a record high of $4,175. A one-bedroom apartment had a median rent of $4,200, up 5% from last year; while a two-bedroom apartment had a median rent of $5,500, up 11% from a year ago. The Manhattan rental market is continuing to trend slightly better than sideways, said Jonathan Miller, president and CEO of Miller Samuel. Not only are median rental prices going up, but the amount of concessions — or incentives offered by landlords — are dropping.

☆ China's home prices rise at slower pace as demand ebbs
▼ + stars: | 2023-05-17 | by ( ) www.reuters.com time to read: +3 min

Summary April new home prices +0.4% m/m vs +0.5% m/m in MarchApril prices -0.2% y/y vs -0.8% y/y in MarchMore policy stimulus may be needed, analysts sayBEIJING, May 17 (Reuters) - China's new home prices rose for the fourth straight month in April but at a slower pace, heightening fears that pent-up demand after the country's economic reopening is fading. New home prices in April rose 0.4% month-on-month versus a 0.5% gain in March, according to Reuters calculations based on National Bureau of Statistics (NBS) data on Wednesday. Beijing's aggressive stimulus policies to the crisis-hit property sector since November have boosted sentiment over the past few months but homebuyers are increasingly worried about job security. Home prices in tier-two and three cities also rose at a slower pace in April. April money and credit data last week suggested growth of households' medium-to-long term loans, mostly mortgages, decelerated in April, in line with slower property transactions.

☆ China's new home prices rise at slower pace in April
▼ + stars: | 2023-05-17 | by ( ) www.reuters.com time to read: +2 min

Summary April new home prices +0.4% m/m vs +0.5% m/m in MarchApril prices -0.2% y/y vs -0.8% y/y in MarchBEIJING, May 17 (Reuters) - China's new home prices rose for the fourth straight month in April but at a slower pace, official data showed on Wednesday, as government efforts to stabilise the sector lifted sentiment after the country's abrupt exit from COVID curbs late last year. New home prices in April edged up 0.4% month-on-month versus a 0.5% gain in March, according to Reuters calculations based on National Bureau of Statistics (NBS) data. April's slower pace of home price gains, along with bearish data on Tuesday showing property investment and sales sharply falling, add to concerns over the strength of the recovery in a sector crucial to the health of China's economy. From a year earlier, prices fell 0.2%, the 12th month of decline in annual terms. Beijing's aggressive stimulus policies to the crisis-hit property sector since November have boosted sentiment over the past few months.

☆ India’s airline turbulence will be felt abroad
▼ + stars: | 2023-05-17 | by ( Shritama Bose | ) www.reuters.com time to read: +4 min

India’s Go First has gone into bankruptcy – the country’s second airline to do so since 2019. Its subsequent public and messy spat with engine suppliers and lessors will have ripple effects across the industry and abroad. Go, the country’s third largest airline with a 7% market share, blames Raytheon Technologies-backed (RTX.N) Pratt & Whitney’s “faulty” engines. A global industry association, Aviation Working Group, has put India on a watchlist for violating global conventions on repossession of airplanes. The trouble at Go may not put them off but it promises some extra turbulence ahead.

☆ Flexport's acquisition of Shopify Logistics sends the company on a search for growth through uncharted territory
▼ + stars: | 2023-05-17 | by ( Emma Cosgrove | ) www.businessinsider.com time to read: +8 min

Flexport plans to integrate Deliverr, an e-commerce fulfillment company Shopify acquired for $2.1 billion last year, into its global logistics offering. Clark called the Shopify assets the "last piece" the company needed to extend its reach from the manufacturer to the end consumer. It may be the last acquisition needed to complete a "port to porch" service, as Clark described it. In fact, Clark said Amazon could be a compliment or partner to Flexport soon after announcing the Shopify deal. Yea," he said about the kind of end-to-end service Flexport is planning.

WILMINGTON, Delaware, May 15 (Reuters) - The U.S. Virgin Islands has subpoenaed Tesla Inc (TSLA.O) CEO Elon Musk for documents in its lawsuit accusing JPMorgan Chase & Co (JPM.N) of helping enable sexual abuses by late sex offender Jeffrey Epstein. The Virgin Islands did not provide further explanation for its interest in obtaining documents from Musk. In the subpoena, the Virgin Islands demanded any documents Musk has about Epstein’s involvement in human trafficking and his procurement of girls or women for commercial sex. Additionally, the subpoena sought any communications between the entrepreneur and JPMorgan about Epstein as well as between Musk and Epstein. Musk is the second tech entrepreneur touched by the Virgin Islands litigation.

Our experts answer readers' student loan questions and write unbiased product reviews (here's how we assess student loans). When I started college, I didn't know what I wanted to do, and I didn't know who to ask for help. I ended up in a major that hasn't been part of my career, and I ended up with huge student loan debt. In 2013, I moved to South Korea to teach English so I could pay down my student loan debt. You want your doctor, your lawyer, and your accountant to have a college degree.

☆ Elon Musk documents subpoenaed in Jeffrey Epstein lawsuit by U.S. Virgin Islands
▼ + stars: | 2023-05-15 | by ( Tom Hals | Thomson Reuters | Tom Hals Is An Award-Winning Reporter With Years Of Experience Working In Asia | ) www.reuters.com time to read: +3 min

☆ Here are Monday's biggest analyst calls: Apple, Exxon, Crox, Meta, JPMorgan Chase, SoFi, DuPont & more
▼ + stars: | 2023-05-15 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Loop upgrades Meta to buy from hold Loop said it sees a "brighter revenue picture" for the social media giant. Morgan Stanley reiterates Exxon Mobil as overweight Morgan Stanley said it has "high confidence" in the oil and gas giant. We do think consensus estimates for 2023/24 remain too high but believe the buy-side is more aligned with our below-consensus views." Citi initiates AerCap as buy Citi said demand should remain attractive for the aviation leasing company. Deutsche Bank upgrades DuPont to buy from hold Deutsche said DuPoint is well positioned in an uncertain macro. "

PenFed Auto Loans Frequently Asked QuestionsIs PenFed good for auto loans? What credit score is needed for a PenFed auto loan? PenFed Auto Loans CompetitorsHow PenFed compares PenFed Auto LoanNavy Federal Auto LoansPNC Auto Loans Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. How we rate auto loansWe rate all auto loan products in our reviews and guides on a 1-5 scale. See our ratings methodology for auto loans »Ryan Wangman, CEPF Loans Reporter Ryan Wangman is a reporter at Personal Finance Insider reporting on personal loans, student loans, student loan refinancing, debt consolidation, auto loans, RV loans, and boat loans.

☆ Stocks making the biggest moves midday: Shake Shack, Charles Schwab, Activision Blizzard and more
▼ + stars: | 2023-05-15 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

Oneok shares slid 7.7%. The IRS is due to release the report this week, the Wall Street Journal reported. Activision shares added 1%, while Microsoft was little changed. The Wall Street firm said shares trade at a significant discount to peers. The Coach and Kate Spade parent has a strong valuation and long-term investment case, the Wall Street firm said.

☆ 2 real estate investors who are financially independent from their rental portfolio say they get the most bang for their buck by buying multi-family properties. Here's why they're 'a fantastic entry-l
▼ + stars: | 2023-05-14 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +5 min

Insider has spoken to a handful of investors who have used real estate to achieve financial independence, including some who got started with less than $10,000. (Buildings with four or more units are typically considered commercial real estate properties.) "'Twos' and 'threes' and 'fours' are a fantastic entry-level investing approach," said real estate investor and consultant Dana Bull, who acquired seven multi-families in Massachusetts over five years. Because duplexes, triplexes, and fourplexes fall under the bracket of residential real estate, you're able to utilize residential loans, she pointed out. Real estate investor Matt "The Lumberjack Landlord" and his family.

☆ Automakers find a tax credit loophole to increase EV leasing and boost sales
▼ + stars: | 2023-05-13 | by ( Michael Wayland | ) www.cnbc.com time to read: +6 min

Buying a used Ioniq, which is produced in South Korea and Indonesia, wouldn't earn him $7,500 off through a federal tax credit. "I ran the numbers — what it would be without the leasing credit and with the leasing credit — and that kind of put me over the top and that was the main thing of why I went in that direction," he said. For a $50,000 EV and a 36-month lease, Chesbrough estimates the full $7,500 tax credit equates to $222 in monthly savings for a consumer. "It also allows them to level the playing field against competitors who get the full tax credit when purchasing." I wouldn't call it leveling the playing field," Watson said of leasing qualifying for the $7,500 tax credit.

☆ Why Alaska is getting rid of several dozen jets in high demand by airlines after only flying them for roughly 5 years
▼ + stars: | 2023-05-13 | by ( Taylor Rains | ) www.businessinsider.com time to read: +4 min

Alaska Airlines is retiring its 10 remaining Airbus A321neo aircraft on September 30. Alaska Airlines is on track to be an all-Boeing operator by year's end. In a recent earnings call, the Seattle-based carrier said the remaining 10 planes in its Airbus A321neo fleet will be retired by fall 2023. Alaska once had 72 Airbus aircraft after merging with Virgin America in 2018 and has already gotten rid of its A319 and A320ceo aircraft as of January 2023. With all of the Airbus planes gone, Alaska will only operate Boeing 737 jets in its mainline fleet.

☆ SocGen beats estimates as bond trading offsets retail banking slump
▼ + stars: | 2023-05-12 | by ( ) www.cnbc.com time to read: +1 min

General view of the logo outside a branch of French bank Societe Generale in Paris. French bank Societe Generale posted better than expected quarterly earnings on Friday after turmoil in bond and currency markets boosted its trading business. The trading windfall cushioned a slump in SocGen's French retail division, where earnings were curbed by stricter interest rate caps on mortgages and other loans. "Performance is tracking well in all the divisions, but the main issue is French retail," JPMorgan said in a note to clients. "We think the market will focus on French NII (net interest income), taking the shares down," it said.

In granting bankruptcy protection, the National Company Law Tribunal in New Delhi ordered a moratorium on Go First's assets and leases. But bankruptcy protection supersede lessors' repossession requests. Go First's lessors also include SMBC Aviation Capital and CDB Aviation's GY Aviation Leasing. Its voluntary seeking of bankruptcy protection to renegotiate contracts and debt marks a first for an Indian airline, and Chief Executive Officer Kaushik Khona, who was present as the order was read, hailed the tribunal's decision as "historic". The Indian tribunal said the new resolution professional will take "all necessary steps including the execution of the arbitral award".

This is the first time an Indian airline has voluntarily sought bankruptcy protection to renegotiate contracts and debt. But if bankruptcy protection is granted, those laws supersede lessors' repossession requests. Go First's lessors include major global names such as Jackson Square Aviation, SMBC Aviation Capital and CDB Aviation's GY Aviation Leasing. Two advisers to some lessors said there were major concerns that the granting of bankruptcy protection for Go First could force the lessors to embark on lengthy litigation to repossess planes. The person added that the development could lead to higher lease rates for Indian airlines in the future.

India has made it easier for lessors to take back planes if airlines default on payments after joining an international treaty known as the Cape Town Convention. But lack of a proper legislation to enforce the treaty means India's bankruptcy law will supersede lessors' repossession requests, lawyers said. Go First's lessors include major global names such as Jackson Square Aviation, SMBC Aviation Capital and CDB Aviation's GY Aviation Leasing. Bigger rivals IndiGo (INGL.NS) and Tata Group's Air India are charting major expansion plans with hundreds of new planes on order as domestic air travel in India surpasses pre-pandemic levels. Air India did not immediately respond.

☆ No office tower is safe from the roiling market — not even a trophy building housing Google and Visa deemed one of the best
▼ + stars: | 2023-05-10 | by ( Daniel Geiger | ) www.businessinsider.com time to read: +9 min

Potential problems at One Market Plaza show how far San Francisco's office market may fall. One Market Plaza has long been considered the pinnacle of San Francisco's office market. Autodesk plans to downsize by about 73,000 square feet to 211,000 square feet, a spokeswoman told Insider. Google did not respond to a request for comment on its plans for One Market Plaza. One Market Plaza could indicate how far San Francisco's office woes reachTurbulence at One Market Plaza indicates the extent of the problems facing San Francisco's office market.

☆ A Campus With a Smokestack: Converting Old Factories Into Schools
▼ + stars: | 2023-05-09 | by ( Patrick Sisson | ) www.nytimes.com time to read: +1 min

Mallory Campus, a century-old brick building in the Englewood neighborhood in Indianapolis, has long been known for innovation. The industrial site was once home to scientists and engineers who had for decades devised new consumer goods, including radios, washing machines and even the Duracell battery. Now, one of its new tenants, Purdue Polytechnic High School, hopes its students will make their own scientific discoveries. In 2020, Purdue, a 600-student charter school, took over two floors of the former industrial site, which had sat abandoned for 30 years. The campus was transformed with the help of historic renovation tax credits to help adapt the space for reuse.

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