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REUTERS/Stephane Mahe/File Photo Acquire Licensing RightsPARIS, Nov 20 (Reuters) - Visitors heading to Paris for next year's Olympics face major accommodation problems amid soaring hotel prices and a crackdown on rentals of tourist apartments. A report by the Paris tourism office showed that hotel prices would rise by a whopping 314% between the 2023 and 2024 summers. The report also hit out at the Paris hotels for waiting too long to open their booking platforms for the July 26 - Aug. 11 Games. According to the Paris Tourism office, a hotel night in the Paris region was 169 euros in July 2023, and it is expected to soar up to 699 euros in July 2024. "At the London Games, the prices were too high and the occupation rate of hotels went 12% down.
Persons: Guy Degrenne, Stephane Mahe, Frederic Hocquard, Hocquard, Jacques Baudrier, Baudrier, Bruno Le Maire, Julien Pretot, Pritha Sarkar Organizations: Paris, Paralympic Games, ArcelorMittal, REUTERS, Rights, Reuters, Paris Tourism, London Games, French Finance, Thomson Locations: Vire, France, Paris, Nantes, Lille, Rennes
Ski towns are so expensive that workers struggle to afford local housing and stay in their jobs. Vail, Colorado has spent $17 million paying homeowners to rent to local workers, according to the Wall Street Journal. The typical home value in Breckenridge was $1.1 million in October, while in Vail, 40 miles west, it was $1.6 million, according to Zillow. He told Business Insider earlier this year that the worker exodus from Vail has forced his business to stop offering lunch some days. Advertisement"Teachers, like myself, want to stay here in the community, but doing so requires the stability that homeownership can offer," Weibel told Business Insider.
Persons: , Callie Kuchan, Business Insider's Jordan Pandy, Kuchan, Pandy, Vail, George Ruther, Ruther, he's, Paul Anders, Anders, Allison Weibel, Weibel Organizations: Wall Street, Service, Business, Street Journal, US Department of Housing, Urban, Policy Development, Research, Vail Daily, Vail Locations: Vail , Colorado, Breckenridge , Colorado, Illinois, Chicago, Breckenridge, Vail, Aspen, , Montana
But the booming South Korean office market may bolster arguments that it is better for employees to head back to the office — at least for those watching the US's struggling commercial-real-estate sector. The increase in competition for office space has led to a roughly 15% rise in rental prices over the last year, Bloomberg reported. KEF found that now, fewer than 60% of big companies allow their employees to work remotely. Of the 40% of companies KEF surveyed that still allow remote work, almost two-thirds of those companies said they only allow it selectively. There has been a general shortage of office space since 2021 due to government restrictions on redevelopment and the pandemic's disruption of construction.
Persons: , Claire Choi, Choi, KEF, it's, Goldman Sachs, Forbes, Biden Organizations: Service, Bloomberg, Global, Estate Services, Korea Enterprises Federation, Pulse Locations: Seoul, Korea
While training, flight attendants rank their preferred "base cities" where they'll fly from. Videos of flight attendants revealing the cities they want vs the cities they get go viral. During training, flight attendants learn safety protocols, practice emergency drills, and get familiar with airplane equipment. Flight attendants rank where they want to workTwo flight attendants said their base reveal happened within the first three weeks of training. This means the airport had appealing flights and flight times, and therefore senior flight attendants sought that location.
Persons: , she's, @dogarmnose, @rainclements, David Becker, Lea McIntyre, @flightattendantbaelee, McIntyre, they'll, you've, Alajah Parker, didn't, Parker, what's, London, Boston —, aren't, it's, wasn't, David Zalubowski, they'd Organizations: Service, LaGuardia Airport, Business, American Airlines, New, London, JetBlue, LA, JFK, Boston Locations: Dallas, Forth Worth, New York, Chicago, New York City, London, Los Angeles , California, LA, Fort Lauderdale , Florida, Boston , Massachusetts, Orlando , Florida, Boston, McIntyre, Dayton , Ohio, Dayton, Miami, Houston, Austin
She received a total of $30,000 from the state to build an ADU in her backyard to rent out. The program provides grants to eligible homeowners to build an additional housing unit on what was a single-family lot. Advertisement"I definitely needed that extra income that a rental unit provides," Leiken told Business Insider. Courtesy of Marni LeikenDespite the cost, Leiken said she's happy, noting that the additional rental income helps cover her monthly expenses. Beyond the rental income she's receiving, Leiken is pleased that she's also helping provide housing to locals who need it.
Persons: Marni Leiken, , Marni, Leiken, she's Organizations: Service, Housing Authority, Business Locations: Montpelier , Vermont, Vermont, California, New York, Leiken's, Montpelier
This picture taken from a position along the border with the Gaza Strip in southern Israel shows flares launched by Israeli forces above the Gaza Strip amid ongoing battles with the militant group Hamas, on Nov. 17, 2023. Kenzo Tribouillard | Afp | Getty ImagesIsraeli air strikes on residential blocks in south Gaza killed at least 32 Palestinians on Saturday, medics said, after Israel again warned civilians to relocate as it turns to attacking Hamas in the enclave's south after subduing the north. Gaza health authorities raised their death toll on Friday to more than 12,000, 5,000 of them children. The United Nations deems those figures credible, though they are now updated infrequently due to the difficulty of collecting information. Al-Shifa hospitalAt Gaza's largest hospital, Al Shifa in Gaza City, Israel said its forces had found a vehicle with a large number of weapons and what it called a Hamas tunnel shaft.
Persons: Kenzo Tribouillard, Khan Younis, Mark Regev, Benjamin Netanyahu, Israel, Regev, Abu Ubaida, Elad Goren, Al, Shifa, Al Shifa Organizations: Hamas, Afp, Getty, MSNBC, United Nations, Shifa, Hospital staff Locations: Gaza, Israel, Gaza City, Khan, Deir Al, Rafah, Egypt, United States, COGAT, Gaza's, Al Shifa
Sign up for our newsletter to get the latest on the culture & business of sustainability — delivered weekly to your inbox. AdvertisementFederal data indicates electrician jobs are growing faster than the average of all occupations, with 73,500 openings expected each year over the next decade. "The education system is still built on getting every student to go to college," Shmelzer said. Over four years, students earn a wage and log the thousands of work hours required to become a licensed electrician. Shmelzer said there are many "career circuits" for electricians, including indoor construction and utility work as well as project management and design.
Persons: Grant Shmelzer, Tom Bowen, Bowen, they're, Gen Zers, Shmelzer Organizations: Service, Independent Electrical Contractors, Maryland -, Industry, Chesapeake, Labor, Brotherhood of Electrical Workers Locations: America, Chesapeake, Maryland, Maryland - Virginia, In California, Irvine, Canada, Virginia
In Shenzhen, a metropolis born of China’s economic prosperity, Paibang Village is a reminder of the city’s modest past and the challenges ahead for reviving the country’s property sector. Paibang is what China calls an urban village, a labyrinth of low-slung apartment buildings and mom-and-pop storefronts connected by a maze of alleyways and narrow roads. There are hundreds of them in Shenzhen, a municipality of 18 million people next to Hong Kong, and thousands of such villages across China. Now with China mired in an unyielding property crisis, policymakers want to revamp aging urban neighborhoods like Paibang to kick-start construction and spur local economies. Seven years ago, Paibang was chosen for an “urban renewal” by city officials, and in 2019 China Evergrande, one of the country’s biggest real estate firms, took control of the project.
Persons: Paibang, Evergrande Locations: Shenzhen, China, Hong Kong
In the summer of 1972, the townhouse at 313 West 102nd Street, where Eleanor Roosevelt’s father once lived, had lingered on the market for a year despite its historical lineage, when the developer Roland W. Betts agreed to pay the $150,000 asking price. At the time, the four-story structure, built in 1892, was divided into six apartments, and Mr. Betts and his wife, Lois, both former teachers, lived in one of them. They eventually converted the building back to a single-family residence after a yearlong gut renovation, and raised their two daughters there. Through the years, the house, situated in a historic district between Riverside Drive and West End Avenue, not only became a cherished home but a showcase for entertaining dignitaries. They included Mr. Betts’s Yale classmate and best friend, President George W. Bush, with whom he once shared ownership of the Texas Rangers baseball team through an investor group.
Persons: Eleanor Roosevelt’s, Roland W, Betts, Lois, Betts’s, George W, Bush Organizations: West 102nd Street, Betts’s Yale, Texas Rangers baseball Locations: Riverside
For all the talk about converting New York City’s languishing office buildings into housing, just one neighborhood has done it on a large scale: the financial district. In the past few years, luxury apartments have been carved out of a 1907 office tower at 84 William Street and an Art Deco skyscraper at 1 Wall Street that was once the Bank of New York’s headquarters. Five other office buildings are being gutted and turned into residences, including a project that is the largest such conversion in the United States. But the high-rise conversions are just part of a wave of modifications in the area that started decades ago with the transformation of low-rise buildings and continues today with enormous glass and steel towers. The financial district name has become something of a misnomer as the neighborhood, once derided as a desert after the bankers commute home, becomes a vibrant residential enclave at Manhattan’s southernmost tip.
Persons: William Street Organizations: William, Art, Bank of New Locations: New York, United States
A new law fast-tracking affordable and mixed-income housing is paying off in San Francisco. Plans for the tallest-ever apartment building in the city are being fast-tracked under the new state law. The tower at 530 Howard Street will be the tallest residential building in San Francisco and the third-tallest building citywide, the San Francisco Chronicle reported. Newsom signed more than 50 housing bills last month that loosen restrictions imposed by CEQA, fast-track affordable housing projects, and encourage more dense, infill residential construction. "Turning a parking lot into housing, including affordable housing, is exactly what we need to do to build a stronger, more resilient San Francisco," Breed said in a statement to the Chronicle.
Persons: , Bill, Paul Paradis, Paradis, Gavin Newsom, Newsom, San Francisco Mayor London Breed, Breed Organizations: Service, Affordable, Commission, Supervisors, San Francisco Chronicle, JPMorgan Chase, Gov, CEQA, San Francisco Mayor London, Bloomberg Locations: San Francisco, Bay Area, Francisco, , California, Washington
Where Are the Country’s Hottest Rental Markets?
  + stars: | 2023-11-16 | by ( Michael Kolomatsky | ) www.nytimes.com   time to read: +1 min
What are the hottest rental markets in New York these days? The answers may come as a surprise: According to a new national study by RentCafe, as of October, Queens, N.Y., had the highest level of renter activity among the 150 largest metropolitan markets in the United States. But the real dark horse was Buffalo, which came in at No. With higher interest rates keeping potential buyers in the rental market across the country, rental activity and competition have ballooned. Queens was found to be the most popular location for renters looking for apartments on RentCafe.com, with 72 percent fewer available listings compared with last October.
Persons: , Alexandra Both Organizations: The Bronx, Bronx, Buffalo, Overland, Minneapolis, Cincinnati Locations: New York, Queens, N.Y, United States, Buffalo, RentCafe.com, Kan, Kansas City, Mo
The suit, which names Mr. Combs and a number of his associated companies as defendants, seeks unspecified damages. scan she had — for memory loss, possibly caused by drug use or by a beating she said she suffered from Mr. Combs — went directly to Mr. Combs. According to the suit, Mr. Combs then had his staff bring her to a hotel room to recuperate for a week. She asked to go home to her parents, but Mr. Combs refused, the suit says. The suit says that after seeing the violent repercussions of rejecting Mr. Combs, and the extent to which he would isolate her from her support network, “Ms.
Persons: Combs, Ventura, Cassie, Casandra Ventura, , Karwai Tang, Ms, Ventura’s, Combs — Organizations: Mr, Getty, Bad Locations: Los Angeles
And while the local government says Berlin has sufficient space to build over 100,000 apartments, there is no sign the housing crisis gripping the city will ease. But as Europe's largest economy teeters near recession, economists warn that high rents will feed inflation and reduce household consumption. In Berlin, local opposition has frustrated plans to build, while regulation creates a two-tier rental market that is cheap for some long-term tenants and expensive for new renters. Rising property demand saw private companies develop luxury apartments that offered a higher yield - in part, Buch said, because government permissioning for more affordable housing projects was so slow. OPPOSITIONSome building projects have since faced local opposition while a recent attempt to curb rent increases backfired.
Persons: Lisi Niesner, Rolf Buch, Buch, you've, Konstantin Kholodilin, Marwa, Monika Neugebauer, Goldman Sachs, Neugebauer, Gesa Crockford, Martin Pallgen, Anna Hohnrath, Hohnrath, Matthias Inverardi, Matthias Williams, Catherine Evans Organizations: Berlin, REUTERS, Rights, Vonovia, Reuters, DIVISION, International Union of Tenants, European, West, Foreigners, Thomson Locations: Berlin, Germany, San Francisco, California, City, Tempelhof, Valencia, Spain
download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementYou're probably aware that a severe housing shortage has driven rents and home prices through the roof in recent years. Now, several lawsuits filed across the country contend that the algorithmic software some big landlords use to determine rents has artificially inflated prices. This allegation is unusual, given that RealPage doesn't have any market power over its clients, Stucke said. AdvertisementProsecutors also allege that RealPage monitors the rents that its clients charge and disciplines landlords who don't adhere to its recommendations.
Persons: , Brian Schwalb, RealPage, They're, Maurice Stucke, RealPage didn't, Axios, Department —, Donald Trump —, Steve Winn, ProPublica, Stucke Organizations: Service, University of Tennessee, DOJ, The, Department, Prosecutors, Department of Justice, Democratic, Federal Trade Commission, Computer Locations: Washington, DC, RealPage, Texas, Seattle , New York, Boston, Colorado, Nashville
“Our lives are all up in the air.”The evacuation has drawn fresh attention to the construction of Britain’s public housing high-rises. The Grenfell Tower fire, which killed 72 people and left hundreds homeless, prompted a national reckoning over safety measures and construction of high-rise buildings. Critics have accused governments of prioritizing cost-cutting over safety, and housing advocates in London and elsewhere have since raised concerns about other buildings. While there was “no evidence of an immediate risk to life,” he said the decision was made to evacuate. Barton House was built in 1958 and is among the oldest of the city’s public housing projects, or council housing estates, as they are called in Britain.
Persons: Ali, , , Grenfell, Barton, Mr, Rees Organizations: Barton House Locations: London, Bristol, Barton, Britain
Construction of new apartment buildings is slowing as interest rates stay high. The Department of Transportation is opening up billions in loans for construction near mass transit. AdvertisementMultifamily housing construction boomed over the last couple years, and more apartments are coming on the market than at any time since the 1980s. But as interest rates have shot up, apartment construction is sharply slowing across the country. In fact, in order to qualify for the loans, developers need to show that their projects would boost ridership.
Persons: Biden, , Dan Schned, TOD, Schned, Brian Deese Organizations: Department of Transportation, Service, of Transportation, Transportation Infrastructure Finance, Innovation, Railroad Rehabilitation, Improvement, DOT's Build America Bureau Locations: downtowns
Cast members of “Friends,” who shared coffee and apartments in their roles on the long-running series, reminisced in Instagram posts this week about the scenes they shared with Matthew Perry, who played Chandler Bing on the show. Perry was found unresponsive in a hot tub at his home in Los Angeles on Oct. 28. His cause of death has not been released. On Tuesday and Wednesday, the actors shared their favorite moments on Instagram, touching on the warmth and chemistry that made the show an enduring global hit. Matt LeBlancLeBlanc had the role of Joey Tribbiani, Chandler’s roommate.
Persons: , Matthew Perry, Chandler Bing, Perry, Courteney Cox, Jennifer Aniston, Lisa Kudrow, Matt LeBlanc, David Schwimmer, Matt LeBlanc LeBlanc, Joey Tribbiani, Chandler’s, Instagram, LeBlanc, Joey, Chandler, Brooke Shields Locations: Los Angeles
HANGZHOU, CHINA - NOVEMBER 15, 2023 - An aerial photo shows a new property under construction in Hangzhou City, Zhejiang Province, China, Nov 15, 2023. (Photo credit should read CFOTO/Future Publishing via Getty Images)BEIJING — The size of unfinished, pre-sold homes in China is about 20 times the size of property developer Country Garden as of the end of 2022, according to a Nomura report on Wednesday. "We estimate that there are around 20 million units of unconstructed and delayed pre-sold homes," said Nomura's Chief China Economist Ting Lu and a team. About 3.2 trillion yuan ($440 billion) is needed to complete those remaining units, according to the analysts' estimates. Ensuring construction of the homes has been a government priority since delays make people less willing to buy new apartments.
Persons: Nomura, Ting Lu Organizations: National Bureau, Statistics, Publishing, Getty Images, U.S, Bloomberg News, China Locations: HANGZHOU, CHINA, Hangzhou City, Zhejiang Province, China, BEIJING
A New Yorker rented out their spare bedroom on Airbnb for years, bringing in up to $4,000 a month. Under NYC's new short-term-rental rules, they didn't qualify for a license but are still renting. But the ban is a slap in the face to people like me. I got a notification this summer in the Airbnb profile that I had to apply for a license by September 5. I still have it listed on Airbnb for month-long stays, but short-term stays are how you make money.
Persons: , it's, I've, Airbnb, I'm, That's Organizations: Yorker, Service, New, New York City, Craigslist Locations: New York, New York City, California
For Skachkova, the final straw was her son telling her that he was frightened by the constant shelling nearby. "My mother didn't want to go," Skachkova told Reuters, recalling how she had told her daughter that she did not want to be a burden. Moscow denies targeting civilians but the U.N. refugee agency says about 5 million Ukrainians have been internally displaced by Russia's invasion. Families with children usually stayed for a few days, while older evacuees were harder to find permanent homes for and sometimes stay for months. She was told by Ukrainian soldiers who rescued her that she would have died had she stayed another two days.
Persons: Alina Smutko, Skachkova, Denys, Scherbak, Maria Maliarenko, Chasiv Yar, Yulia Nikonova, Denys strode, Max Hunder, Ivan Lyubysh, Timothy Organizations: REUTERS, Reuters, Timothy Heritage, Thomson Locations: Toretsk, Ukraine, Kostiantynivka, Donetsk region, KOSTIANTYNIVKA, Donetsk, Moscow, Tetiana, Bakhmut, Chasiv, Russian, Skachkova
Jules Rogers took a new job at a newspaper in Houston and moved from Portland, Oregon, in 2018. I was in my mid-20s and working as a full-time reporter for a local newspaper in Portland, Oregon. My favorite things about Houston were the radio stations — the rap and country stations were both really good. My transportation budget increasedMy transportation budget went up in Houston. Ultimately, I quit my Houston job less than two years after I got there.
Persons: Jules Rogers, weren't, , Marshall, Jules, Jules Rogers Job Organizations: Service, Housing, FedEx, Gas, Houston Locations: Houston, Portland , Oregon, Oregon, Texas, Portland, Spring, West, Galveston, snowshoe, Houston . In Portland, . Oregon, Pacific Northwest
In preparing financial statements, also known as compilations, accountants need only documentation used to determine the value of assets, like Trump’s skyscrapers, golf courses and other properties. The firm cut ties with Trump last year and said his financial statements “should no longer be relied upon” after James raised concerns about their accuracy. James, a Democrat, alleges Trump, his company and top executives exaggerated his wealth by billions of dollars on the financial statements by inflating property values. On the stand Tuesday, Flemmons echoed Trump’s longstanding assertion that disclaimers on the financial statements insulated him from liability for discrepancies or misstatements. Trump has argued that, if anything, his financial statements undervalued how much his properties were worth.
Persons: — Donald Trump, Letitia James ’, Jason Flemmons, Donald Bender, Bender, he'd, , , Flemmons, James, Trump, Judge Arthur Engoron, “ It’s, ” Flemmons, Steven Witkoff, Trump’s, ” Engoron, Donald Trump Jr, Allen Weisselberg, ” Trump, Eric, Donald Trump, , Michael Organizations: USA, York, Trump Organization, U.S . Securities, Exchange Commission, Trump, Ankura Consulting, Mazars, Republican Locations: New York, Lago, Florida, Trump’s Doral , Florida, Michael Sisak, x.com
REUTERS/Mike Segar/File Photo Acquire Licensing RightsNEW YORK, Nov 13 (Reuters) - A lawsuit filed on Monday accuses the Real Estate Board of New York (REBNY) and more than two dozen brokerages and companies of conspiring to artificially inflate commissions paid to agents who help sell residential real estate in Manhattan. That verdict, which a judge can triple to more than $5.3 billion, could upend decades-old practices that require sellers to pay commissions to buyers' brokers. March said it is unclear whether this would result in lower commissions, or delay sales while buyers' brokers negotiate with sellers. The lawsuit seeks damages for sellers of Manhattan residential property in the last four years who paid buyer brokers' commissions under REBNY rules. The case is March v. Real Estate Board of New York et al, U.S. District Court, Southern District of New York, No.
Persons: Douglas, Mike Segar, Douglas Elliman, Monty, Carl Hum, Corcoran, REBNY, Jonathan Stempel, Jonathan Oatis Organizations: REUTERS, Real, Board, New, Corcoran, National Association of Realtors, NAR, ., Court, Southern District of, Thomson Locations: Manhattan's, New York City , New York, U.S, New York, Manhattan, Missouri, Brooklyn, Southern District, Southern District of New York
Resistance fighters killed at least three Russian national guard officers, Ukraine said. The attack is part of a resistance movement against Russia in occupied Ukraine. AdvertisementAdvertisementResistance fighters set off an explosion in a Russian headquarters building that killed at least three national guard officers, Ukrainian intelligence said. Ukrainian resistance fighters have previously claimed to have killed dozens of Russian soldiers by poisoning them. One Russian dissident group, the Liberty of Russia Legion, has taken responsibility for attacks in Russia's Belgorod region, which borders Ukraine.
Persons: , GUR, Vladimir Putin Organizations: Russian, Service, Main Directorate of Intelligence, Liberty of Russia Legion Locations: Ukraine, Russia, Melitopol, Zaporizhzhia, Ukrainian, Crimea, Russian, Liberty, Russia's Belgorod
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