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☆ 'Venice has been lost, but we can still save Florence:' Italy's fight against Airbnb
▼ + stars: | 2023-12-01 | by ( Dan Latu | ) www.businessinsider.com time to read: +4 min

30% of homes in central Florence, Italy, are listed on Airbnb, the Wall Street Journal said. In October, Florence decided to ban all new Airbnb listings in the city center. Florence is not alone in its attempts to limit the reach of short-term rentals. Venice has been lost, but we can still save Florence." Efforts to combat the effects of short-term rentals haven't broken through nationally.

Persons: —, David, It's, Dario Nardella, Florence, Linda Sanesi, Nardella, I'm, Massimo Torelli Organizations: Wall Street Journal, Service, Rome's La Sapienza University, Wall Street Locations: Florence, Italy, Rome's, Florence's, Nardella, New York City, Portugal, Venice

☆ UK housing market shows new signs of strength - Nationwide
▼ + stars: | 2023-12-01 | by ( ) www.reuters.com time to read: +1 min

A rainbow is seen over apartments in Wandsworth on the River Thames as UK house prices continue to fall, in London, Britain, August 26, 2023. REUTERS/Kevin Coombs/File Photo Acquire Licensing RightsLONDON, Dec 1 (Reuters) - British house prices rose unexpectedly in monthly terms for the third time running in November, adding to signs that the housing market downturn has abated, mortgage lender Nationwide said on Friday. House prices rose by 0.2% on the month in November, after a 0.9% increase in October. Compared with a year ago, house prices were 2% lower - the smallest such drop in nine months. "There has been a significant change in market expectations for the future path of Bank Rate in recent months which, if sustained, could provide much needed support for housing market activity," said Robert Gardner, chief economist at Nationwide.

Persons: Kevin Coombs, Robert Gardner, Andy Bruce, Sarah Young Organizations: REUTERS, Nationwide, Bank of England, Thomson Locations: Wandsworth, London, Britain

Both are yet another indication that inflation has moderated from its pace of last year when consumer inflation was running at a 9.1% annual rate. “After fears of "sticky" and "persistent" inflation, the month to month slowing in the core pce readings is encouraging. Core pce has risen by 0.3% or less for 8 consecutive months. Political Cartoons on Inflation View All 19 Images"This report hit the trifecta,” said Navy Federal Credit Union corporate economist Robert Frick. “During October, mortgage rates were at their highest, and contract signings for existing homes were at their lowest in more than 20 years,” said Lawrence Yun, NAR chief economist.

Persons: ” Kathy Jones, ”, Robert Frick, “, Zumper, Lawrence Yun, Curt Long Organizations: Federal Reserve, pce, Schwab Center, Financial Research, Federal Credit Union, National Association of Realtors, NAR, Fed, Labor, National Association of Federal Credit Unions, Dow Jones Industrial Locations: “

☆ It's never been a smarter time to rent instead of buying a home — especially in these 32 US cities where landlords' asking prices are plummeting back to earth
▼ + stars: | 2023-11-29 | by ( James Faris | ) www.businessinsider.com time to read: +3 min

Buying a home has never been more expensive relative to renting, according to new research from online rental platform Zumper . Rent was up at the slowest year-over-year pace this month since December 2020, according to Zumper. 32 cities where rent is down meaningfullyFortunately for renters, declines in apartment asking prices are both significant and widespread. Below are the 32 cities where the median rent for a one-bedroom setup is at least 3% lower now than it was in 2022, according to Zumper. Along with each metropolitan area are its year-over-year and month-over-month rent changes, average rent price, and national rent ranking among the largest 100 US cities.

Persons: Zumper, Anthemos Georgiades Organizations: Business Locations: Sun

☆ The Way Geert Wilders Won - The New York Times
▼ + stars: | 2023-11-28 | by ( Paul Tullis | ) www.nytimes.com time to read: +2 min

“He is a straight talker and tells it like it is,” a 23-year-old Rotterdam waitress told The Guardian. Mr. Wilders has promised to bring down housing prices by building more apartments (as has virtually every other party) and to prioritize Dutch citizens for public housing. Mr. Wilders does not have a record of working well with others; coalitions typically require smaller parties to shave off their more extreme positions, which Mr. Wilders has in the past refused to do. His Party for Freedom hasn’t been in government since 2012 — and the head of the People’s Party for Freedom and Democracy, Dilan Yesilgoz-Zegerius, announced Friday morning she would not join a cabinet with Mr. Wilders. “We have to be more forward-thinking and listen to people everywhere.”Perhaps there is hope yet for the polder model.

Persons: Wilders’s, Wilders, Freedom hasn’t, Dilan, Timmermans, Rob Jetten, Harold Zoet, ”, “ Organizations: Guardian, Party, Freedom, People’s Party for Freedom and, Left, Labor, People’s Party for Freedom and Democracy, statehouse Locations: Rotterdam

☆ Slowing China still leads the race for commodities
▼ + stars: | 2023-11-28 | by ( Yawen Chen | ) www.reuters.com time to read: +7 min

"When it comes to copper, the thinking usually goes that copper equals property, property equals China," said one commodities trader. "And because China property is down, copper must be down too." That’s why China's copper demand will still rise by 4 million tonnes from the 2020 level to around 18 million tonnes per year in 2030, according to estimates by commodity trading group Trafigura. And China's copper demand has grown by 8% this year, faster than the 5% Xi is targeting for overall GDP growth. China's annual aluminium demand rose by 18 million tonnes from 2010 to 2020 and is forecast to grow by another 13 million tonnes to over 50 million tonnes a year in 2030, per Trafigura.

Persons: Xi Jinping, Communist Party’s, Wood Mackenzie, Francesco Guerrera, Katrina Hamlin, Thomas Shum Organizations: Reuters, HK, Communist, Shanghai Futures Exchange, London Metal Exchange, ING, International Monetary Fund, IMF, World Bank, Reuters Graphics Reuters, Oxford, HSBC, Democratic, Thomson Locations: SINGAPORE, China, Washington, Moscow, Taiwan, Shanghai, Republic, United States, Australia, Beijing, Chile, Indonesia, Democratic Republic of Congo

They are using their savings to buy overseas apartments, stocks and insurance policies. Able to fly again to Tokyo, London and New York, Chinese travelers have bought apartments in Japan and poured money into accounts in the United States or Europe that pay higher interest than in China, where rates are low and falling. The outbound shift of money in part indicates unease inside China about the sputtering recovery after the pandemic as well as deeper problems, like an alarming slowdown in real estate, the main storehouse of wealth for families. In some cases, Chinese are improvising to get around China’s strict government controls on transferring money overseas. They have bought gold bars small enough to be scattered unobtrusively through carry-on luggage, as well as large stacks of foreign currency.

Persons: Xi Jinping Locations: Tokyo, London, New York, Japan, United States, Europe, China

☆ Students are lawyering up in the wake of the Israel-Hamas war
▼ + stars: | 2023-11-28 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +16 min

Hafez, who CNN has reached out to for comment, is now suing Accuracy in Media for defamation and emotional distress, and the violation of his civil rights. Hafez is among the politically and ethnically diverse students across the country who are filing lawsuits in the wake of October 7. Some are invoking the Civil Rights Act, claiming their schools aren’t protecting them from religious discrimination. “We believe that a number of universities are violating Title VI in this moment. “We have had a massive and unprecedented spike since October 7.”The legal standard for Title VI cases is high, Cron said.

Persons: Yusuf Hafez, “ Columbia’s, ” Hafez, Hafez, Minouche Shafik, “, ” John Beckman, ” Beckman, Beckman, Justin Sadowsky, ” Sadowsky, Sadowsky, Dylan Saba, State University of Florida Chancellor Ray Rodrigues, DeSantis, ”, Brittany Wise, ” Adam Steinbaugh, ” Steinbaugh, you’re, Matthew Cron, Donald Trump, ” Saba, Kenneth Marcus, Wellesley, ” “ Wellesley, UPenn, Magill, “ We’ve, Marcus, George W, Bush, Cron, ” Cron, Yusuf Hafez’s, SWATTING, ” – CNN’s Matt Egan, Celina Tebor Organizations: New, New York CNN — Columbia University, Media, CNN, Civil, Columbia, Columbia University, New York University, Jewish, gaslighting, NYU, New York police, Islamic, Civil Rights, Department of Education, Palestine, American Civil Liberties Union, Palestine Legal, University of Florida, UF, Justice, State University of Florida, ACLU, ” CNN, State University System of, University of Florida’s, “, Governors, Foundation, Rights, Florida, DOE, of Education Office, Legal, University of Illinois Chicago, UIC, Brandeis Center, University of Pennsylvania, ”, University, Trump, Ivy League, Private, AIM, U.S . Locations: New York, Israel, Gaza, Palestine, Florida, State University System of Florida, Colorado, “, Penn, Chicago

Homeless people and their advocates say the sweeps are cruel and a waste of taxpayer money. The AP submitted data requests to 30 U.S. cities regarding encampment sweeps and received at least partial responses from about half. “Unfortunately, it’s becoming a way of life, and that is 100% incorrect.”For homeless people, sweeps can be traumatizing. But never an end solution.”There are many reasons why someone might reject shelter, say homeless people and their advocates. We’re walking around saying, ‘What do you need?’”In Portland, the encampment dismantled in July was cleared again, in September and November.

Persons: Will Taylor, ”, Taylor, he's, …, ” Angelique Risby, it’s, Gavin Newsom, Newsom, David Sjoberg, ” David Ehler Jr, Crews, Sara Angel, “, Masood Samereie, ” Samereie, Roxanne Simonson, Sam Dodge, Dodge, Michael Johnson, aren't, Charise Haley, “ There’s, pare, Francis Zamora, Zamora, Brad Lander, ” Lander, Eric Adams, Charles Lutvak, Lutvak, Danielle Werder, Kieran Hartnett, who's, ____ Har, Casey, Thomas Peipert, Angeliki Kastanis, Christopher Weber Organizations: Contractors, U.S, The Associated Press, American Civil Liberties Union, Democratic, Republican, Supreme, ACLU, Northern, Politico, AP, San, Police, Public Works, Department of Emergency Management, Democratic New York City Locations: PORTLAND, Portland, West Coast, Los Angeles, New York, U.S, Phoenix, Las Vegas, Minneapolis, Miami, Albuquerque, Anchorage, Boulder , Colorado, California, San Francisco, Northern California, Denver, Connecticut, Colorado, “, New York City, Hennepin County, Boston

☆ I've interviewed dozens of disruptive go-getters from self-made millionaires to entrepreneurs. Here are my 4 observations on what sets them apart.
▼ + stars: | 2023-11-27 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +6 min

As an investing reporter, I regularly talk to real estate investors, entrepreneurs, and side hustlers. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . What doesn't always get passed along are my observations after talking to disruptive go-getters regularly. If you find a good enough deal and present it accurately and professionally to investors, the money will come. AdvertisementJatz Naran built his Amazon business between the hours of 6-and-10, after his day job would wrap up.

Persons: —, I've, doesn't, getters, I'm, Natia, Jervais Seegars, Caleb Hommel, Chuck Sotelo, he's, isn't, Naran, NeuroGum, Kent Yoshimura Organizations: Service Locations: Detroit, Chicago

☆ Harrisburg, Pennsylvania is the No. 1 place to retire in America, recent study shows
▼ + stars: | 2023-11-27 | by ( Celia Fernandez | ) www.cnbc.com time to read: +3 min

According to a recent U.S. News and World Report ranking, the state of Pennsylvania dominates the list of best place to retire in the U.S. Harrisburg ranked as the best place to retire in the U.S. in 2024, according to U.S. News and World Report. Richard T. Nowitz | The Image Bank | Getty ImagesHarrisburg, Pennsylvania's capital, ranked as the best place to retire in the U.S. Reading, Pennsylvania ranked as the second-best place to retire in the U.S. in 2024, according to U.S. News and World Report. 3 best place to retire in the U.S. in 2024, according to U.S. News and World Report.

Persons: Richard T, Penn ., Alex Potemkin, RentCafe Organizations: . News, U.S . News, U.S, Harrisburg, Bank, Getty Images, Allentown , Penn . New York City, Daytona, Reading Railroad, Monopoly, Istock, Getty Locations: U.S, Florida, Pennsylvania, Northeastern, Puerto Rico, Harrisburg, Penn, Getty Images Harrisburg, New York City, Philadelphia, Baltimore, Washington, East Coast, Zillow, Reading, Penn . Lancaster, Scranton, Allentown , Penn . New York, Allentown , Penn . New York City York, Daytona Beach, Fla . Youngstown , Ohio Pittsburgh, Reading , Pennsylvania, Lancaster, Reading , PA, Lancaster . Lancaster , Pennsylvania

☆ Americans ditched big cities during the pandemic. Now many are regretting it.
▼ + stars: | 2023-11-27 | by ( Kelli María Korducki | ) www.businessinsider.com time to read: +12 min

Susan, a 30-something artist, lived in New York City when the pandemic struck. The pair had talked about moving to a smaller town someday — the pandemic just shortened their timeline. As rent prices in big cities shot up and jobs went remote, cash-strapped people were quick to take advantage of an unprecedented situation and try someplace new. It was also a favor to her husband, who never felt at peace in the bustle of the big city. A few months ago, she and her husband found a renter for their house and returned to the city.

Persons: Susan, Eager, Riordan Frost, Millennials, Frost, Alex Gatien, he's, Gatien, Alexander von Hoffman, von Hoffman, Sandro Galea, Galea, Kelli María Korducki Organizations: Harvard's, for Housing Studies, National Association of Realtors, New, Boston University School of Public, Boston University School of Public Health Locations: New York City, McMansions, Toronto, St, Lawrence, Canada, New York

☆ Flight attendants 'hot bed' to deal with sporadic shifts – but an insider says the practice is in a legal gray zone
▼ + stars: | 2023-11-27 | by ( Maria Noyen | ) www.businessinsider.com time to read: +6 min

AdvertisementFor those not in the aviation industry, it might be easy to assume the life of a flight attendant is glamorous with constant travel. For that reason, flight attendants on reserve sometimes resort to staying in shared housing, commonly known as a "crash pad." @flightattendantbaelee/TikTokDepending on the city, crash pads are houses or apartments that are usually owned by flight attendants, pilots, or former airline crew. What's more, flight attendants have two options to choose from within the crash pad: a "hot bed" or "cold bed." "You typically see that it's like the crash pad owner sucks or something, and someone feels the crash pad owner wronged them."

Persons: —, isn't, Lea, @flightattendantbaelee, she's, Lea —, there's, I've, Amelia Hanron, Lea's, Insider's Monica Humphries, Cierra, Zach, Cody Organizations: Service, American Airlines, French Bulldogs, Pad Locations: Lea, Puerto Rico, Hawaii, , New York, New York City

☆ Take a look inside Singapore's public housing estates, where 80% of the resident population resides
▼ + stars: | 2023-11-26 | by ( Amanda Goh | ) www.businessinsider.com time to read: +2 min

Singapore's public housing apartments are home to about 80% of the country's resident population. AdvertisementSingapore's skyline would not be complete without its candy-colored, high-rise public housing apartment blocks. In the US, public housing is intended for low-income families, seniors, or people with disabilities. AdvertisementIn Singapore, however, it's a different situation: Public housing units are where about 80% of the country's resident population lives. And in Singapore, public housing does not mean inexpensive housing.

Persons: —, I've, It's Organizations: Service, Housing Development Board, Straits Times Locations: Singapore, New York City

☆ I split my time between Tokyo and Singapore. I don't consider myself a digital nomad, I'm a 'shuttler.'
▼ + stars: | 2023-11-26 | by ( Kai Xiang Teo | ) www.businessinsider.com time to read: +5 min

Austin Zeng is a freelancer who splits his time evenly between Singapore and Tokyo. He calls himself a "shuttler," and thinks it has clear benefits compared to being a digital nomad. I'm not a digital nomad, I'm a shuttler. While digital nomads jump from place to place to place, I spend my time shuttling between just two cities: Singapore and Tokyo. Unlike me, a digital nomad would be unlikely to stay in Japan during the dead of winter.

Persons: Austin Zeng, it's, —, I'm, Tokyo Austin Zeng, Shinjuku Austin Zeng I'm, It's, Zeng, FOMO Austin Zeng, Austin Zeng FOMO, I've, you'll Organizations: Service, Asahi Locations: Singapore, Tokyo, Shinjuku Austin, Japan, Shinjuku, —, It's, Airbnbs, I'm

☆ This $3.5 million apartment sits atop a former Wonder Bread Factory turned luxury condos—take a look inside
▼ + stars: | 2023-11-25 | by ( Celia Fernandez | ) www.cnbc.com time to read: +4 min

The former Wonder Bread Factory in Hoboken, New Jersey was transformed into a luxury residential building. Now in its place stands The Wonder Lofts, a luxury residential building with 83 loft-style condominiums. The Wonder Lofts building was a bakery for more than 50 years in the 1900s. Wonder LoftsThe Wonder Lofts includes two- to five-bedroom apartments with about 1,200 square feet to 2,700 square feet of living space. Wonder Lofts

Persons: Angelo Gordon, Robert Fourniadis, Fourniadis, it's, Daniel P, Winschuh, You've Organizations: Prism Capital Partners, Parkwood, CNBC Locations: Hoboken , New Jersey, New Jersey, New York City, Palisades, Manhattan, cabanas, Hoboken

With some German property developers filing for insolvency, construction activity has dropped over a third from a year ago. That bleak outlook was despite the government recently announcing a 45 billion euro ($47 billion) support package for the property sector and measures to encourage house building, including tax incentives. With overall economic activity expected to remain weak over the coming quarters, it could take a while for the property sector to recover. The euro zone's commercial property sector could also struggle for years, posing a threat to the banks and investors who financed it, the ECB said recently. The median view of 12 property experts forecast average home rental prices to rise 4.0% or more until 2026.

Persons: Lisi Niesner, Sebastian Schnejdar, Carsten Brzeski, Indradip Ghosh, Purujit Arun, Rahul Trivedi, Sarupya Ganguly, Ross Finley, David Evans Organizations: REUTERS, European Central Bank, ECB, ING, Thomson Locations: Berlin, Germany, BENGALURU

☆ Housing economists have a great idea that could fix just about everything
▼ + stars: | 2023-11-24 | by ( Eliza Relman | ) www.businessinsider.com time to read: +8 min

"A land value tax would fix that" has become a popular, and sometimes comedic, Twitter response to a range of policy conundrums among urbanists and YIMBYs. It would incentivize landowners to maximize the revenue from their property — building an apartment building instead of, for example, a parking lot. And because rich individuals and corporations own most land in cities and towns, land taxes would disproportionately fall on the wealthiest. Pure Georgists advocate for abolishing all taxes besides land value taxes. Instead, they want to see more regressive levies — like sales taxes — or those that penalize investment — like property taxes — reduced.

Persons: —, Henry George, George, Stephen Hoskins, BZ5X3Lh7mU — Daryl Fairweather ⛅, Mike Duggan, Gregor Schwerhoff, Shane Phillips, Scott Olson, Phillips, Hoskins Organizations: Service, urbanists, Resource Justice, Lawmakers, Detroit, International Monetary Fund, Lewis Center for Regional Policy Locations: America, Pennsylvania, Pittsburgh , Harrisburg, Allentown, Detroit, Minnesota, Hamtramck , Michigan, American

☆ A financially independent investor shares the strategy he used to buy a NYC apartment for 'about 20% cheaper than I would have bought it last year'
▼ + stars: | 2023-11-23 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +4 min

"A, people have less access to capital and less purchasing power because interest rates are so high. People don't want to leave their lower interest rates to enter into a higher interest rate mortgage." This is a strategy that California-based real estate investor Mike Zuber refers to as " learning your buy box ." To pick your buy box, spend time walking through different neighborhoods, going to open houses, and looking at rental listings. He had a major advantage in that he could make all-cash offers, he noted, but anyone can use the "buy box" strategy to find deals right now when there are less buyers.

Persons: Grant Sabatier, it's, don't, Sabatier, they're, Mike Zuber, seasonality, It's Organizations: Rolex, Business Locations: Ohio, Indiana, New York City, California, Park Slope, New York

☆ Best Black Friday Vacuum Deals 2023
▼ + stars: | 2023-11-22 | by ( Nick Guy | ) www.wsj.com time to read: +2 min

Thankfully, Black Friday and Cyber Monday bring lots of vacuum sales, and this year is no different. Read on to check out the best deals. Upright vacuumsUpright vacuums are the most traditional style of vacuum cleaner, and the most powerful. The best of them are easy to navigate, offer impressive suction and work on a variety of surfaces. We found that the best of them run for longer than average on a single charge and are more powerful than you’d expect from their small form factor.

Persons: Nick Guy, you’ll, Dyson, vacuums Organizations: Upright vacuums Locations: Price

(AP) — Two people accused of operating a high-end brothel network with wealthy and prominent clients in Massachusetts and the Washington, D.C., suburbs will remain behind bars for now, a judge said on Wednesday. Lawyers for Han Lee and Junmyung Lee agreed to a voluntary order of detention during a brief court hearing two weeks after their arrest. Authorities have said the commercial sex ring in Massachusetts and northern Virginia catered to politicians, company executives, military officers, lawyers, professors and other well-connected clients. Political Cartoons View All 1265 ImagesProsecutors have argued Han Lee and Junmyung Lee pose a risk of flight, pointing to their financial resources and lack of ties to the community. Authorities say Han Lee recruited women and maintained the websites and brothels.

Persons: Han Lee, Junmyung Lee, David Hennessy, Josh Levy, Han Lee's, James Lee Organizations: Washington, D.C, Prosecutors, Homeland Security Investigations, Authorities Locations: WORCESTER, Massachusetts, Worcester , Massachusetts, Virginia, Watertown, Cambridge , Massachusetts, Fairfax , Virginia, California

☆ Canada tax rule curbs Airbnb deductions to ease rental shortage
▼ + stars: | 2023-11-21 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsTORONTO, Nov 21 (Reuters) - Canada introduced tax measures on Tuesday to ease a severe rental housing shortage by limiting income tax deductions on short-term rentals on services such as Airbnb Inc (ABNB.O) and VRBO, joining many countries that are enacting similar laws. The new rules apply as of Jan. 1 in provinces and municipalities that bar short-term rentals, and affect deductions such as interest expenses, the federal government said in its fall economic statement. In Montréal, Toronto and Vancouver alone, an estimated 18,900 homes were being used as short-term rental properties in 2020, the report added, noting that the number "has almost surely increased in recent years." Starting in 2024, the government will spend C$50 million ($36 million) over three years to enable municipal enforcement of restrictions on short-term rentals. Gabriel Giguère, public policy analyst at Montreal Economic Institute, criticized the government's decision to modify the tax treatment of the expenses of owners of short-term rental apartments.

Persons: Dado Ruvic, Nathan Rotman, Gabriel Giguère, Giguère, Nivedita Balu, Richard Chang, Leslie Adler Organizations: REUTERS, Rights TORONTO, Inc, Canada, Montreal Economic Institute, British Columbia, Thomson Locations: Canada, Montréal, Toronto, Vancouver, Montreal, Australia, Italy, Canadian, U.S, Florence, Byron, British

☆ China's property sector needs more government support as crisis deepens
▼ + stars: | 2023-11-21 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +3 min

Qilai Shen | Bloomberg | Getty ImagesBEIJING — China's property market, which makes up a substantial chunk of the country's economy, needs more government support to prevent it from deteriorating further, analysts said. UBS analysts estimated that real estate and related sectors now account for about 22% of China's gross domestic product, down from around 25% levels seen in recent years. However, real estate behemoth Country Garden still ended up defaulting on a U.S. dollar bond last month, according to Bloomberg News. "China's property sector has yet to bottom out," the report said. "Markets appear to have been a bit too optimistic about the property stimulus policies over the past two months."

Persons: Qilai Shen, Larry Hu, Nomura Organizations: Bloomberg, Getty, BEIJING, Macquarie, UBS, U.S, Bloomberg News, Developers Locations: Nanchuan, Xining, Qinghai province, China, Beijing

Amazon founder Jeff Bezos' fund to support homeless families announced $117 million in new grants on Tuesday to organizations across the U.S. and Puerto Rico, which is a part of a $2 billion commitment Bezos made in 2018 to support homeless families and to run free preschools. That brings the amount granted by the Bezos Day 1 Families Fund to benefit homeless families to almost $640 million. The Salvation Army of Greater Charlotte received a second grant this year after first being awarded $5 million by the fund in 2018. The Bezos Day 1 Families Fund did not give a timeframe for when the pledged $2 billion would be distributed or what portion would go to homeless families. Last year, Bezos gave away $122.2 million and has pledged around $12.8 billion in charitable donations, according to The Chronicle of Philanthropy.

Persons: Jeff Bezos, Bezos, Lauren Sánchez, Deronda Metz, ” Metz, Amanda Andere, “, can’t, Andere, Sánchez, Jacklyn Bezos, Miguel, Fred, Dolly Parton, José Andrés, Van Jones Organizations: Fund, Salvation Army, Greater Charlotte, Girls, Urban Institute, National Coalition for, Homeless, Housing, Urban Development, Amazon, CNN, Fred Hutchinson Cancer Center, Associated, Lilly Endowment Inc, AP Locations: Puerto Rico, Seattle, Maui

☆ Signature Bank’s Apartment Loans Selling at a Steep Discount
▼ + stars: | 2023-11-20 | by ( Peter Grant | ) www.wsj.com time to read: 1 min

The leading bid shows how much the value of New York’s rent-regulated apartment sector has deteriorated in recent years. Photo: Scott Heins/Getty ImagesA venture of two nonprofits and Related Fund Management is poised to win an auction for billions of dollars of Signature Bank loans backed by New York apartments, according to people familiar with the matter. The venture’s leading bid of less than 70 cents of the loan’s face value shows how much the value of New York’s rent-regulated apartment sector has deteriorated in recent years.

Persons: Scott Heins Organizations: Fund Management, Signature Bank Locations: New York

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