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☆ Google, Lendlease Scrap Agreement for $15 Billion Real-Estate Development in Silicon Valley
▼ + stars: | 2023-11-02 | by ( Stuart Condie | ) www.wsj.com time to read: 1 min

A Lendlease construction site in Sydney. Photo: david gray/ReutersSYDNEY—Four years ago, Google and Australia’s Lendlease rolled out a vision for a more than $15 billion real-estate investment in the San Francisco Bay Area featuring apartments, shops and new office space. Now, those plans are on the scrapheap, the latest example of U.S. tech leaders dumping office space at a rapid clip as they reassess commitments to the workplace.

Persons: Lendlease Organizations: SYDNEY —, Google Locations: Sydney, San Francisco Bay

☆ Welcome to Ed Park’s Many-Layered World
▼ + stars: | 2023-11-02 | by ( Hamilton Cain | ) www.nytimes.com time to read: +2 min

SAME BED DIFFERENT DREAMS, by Ed ParkJust after I’d registered for my first semester of college courses, I was meandering among a concourse of clubs and teams, fending off their grinning ambassadors, when a newspaper headline caught my eye: “U.S. Late in his lush, labyrinthine “Same Bed Different Dreams,” Ed Park recreates that moment, twisting the doomed flight’s number into a James Bond motif that resonates throughout the novel. Soon Sheen is an erstwhile Korean American writer turned lackey for GLOAT, a technology conglomerate. “Same Bed, Different Dreams” maps the arc of the mysterious Korean Provisional Government (or K.P.G. (Park’s novel and Echo’s nonfiction novel share a title, based on a Korean proverb and helpfully demarcated by Echo’s comma, the punctuation a possible allusion to the 38th parallel.)

Persons: Ed Park, Ronald Reagan’s, sabers, Ed, James Bond, Sheen, lackey, ’, ”, Drudge, swipes Organizations: Says Soviet, Korean, Jet, Korean Provisional Government Locations: Korean, GLOAT, NCD, Manhattan, Dogskill

☆ How some HENRYs are aggressively saving their around 6-figure incomes while still splurging on what matters most to them
▼ + stars: | 2023-11-02 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +7 min

"When some people look at our lives, they say we are really thrifty, that we must feel limited or that we are missing out, but I don't feel held back," White said. AdvertisementAdvertisementWhite is one of the so-called HENRYs — or high earners, not rich yet — who are often younger people with significant discretionary income but who still don't feel financially stable. For many HENRYs, living below their means is the key to relying less on their working income in the future. Coupled with saving for retirement and paying off student loans — averaging $80,000 among Malani's clients — many don't have much money to spend. "In a lot of ways, saving money gives us freedom."

Persons: Gen Zers, —, hasn't, she's, White, Priya Malani, HENRYs, Malani, Sarah Baus, Baus, it's, splurging Organizations: Service, Hyundai Locations: Charleston, SC, Thailand, New York, California

The Hamas-run government said airstrikes killed and wounded many people, but the exact toll was not yet known. The toll from Tuesday's strikes was also unknown, though the director of a nearby hospital said hundreds were killed or wounded. Dozens of people could be seen entering the Rafah crossing — the only one currently operating — and ambulances carrying wounded Palestinians exited on the Egyptian side. Egypt had earlier said that more than 80 Palestinians — out of many thousands wounded in the war — would also be brought in for treatment. Over 1,400 people have died on the Israeli side, mainly civilians killed during Hamas’ initial attack, also an unprecedented figure.

Persons: Israel, Ayman al, Israel “, Wael Abu Omar, Mohamed Zaqout, Paltel, ” Alp Toker, Cross, ”, Jessica Moussan, Antony Blinken, Mahmoud Abbas, Daniel Hagari, “, ___ Magdy, Wafaa Shurafa, Amy Teibel Organizations: Hamas, Wednesday, Palestinian, Authority, Health Ministry, Associated Press, POWER, COMMUNICATIONS, Committee, ICRC, Palestinian Health Ministry, Palestinian Authority, West Bank, U.S Locations: RAFAH, Gaza, Gaza City, Jordan, Israel, U.S, Egypt, GAZA, Rafah, Palestinian, Turkish, Gaza’s, Syria, Iran, Eilat, Red Sea, Yemen, Cairo, Deir al, Jerusalem, israel

The verdict could upend decades-old practices that have allowed real estate agents to boost commissions by forcing sellers to pay commissions to buyers' real estate brokers. Representatives of Compass and Douglas Elliman declined to comment. BTIG analyst Soham Bhonsle in an investor note said the fact that Douglas Elliman, Redfin, Compass and eXp were being sued by the same lawyers was a negative for their stocks. Zillow (ZG.O) shares initially fell 0.33% after brokerage Jefferies cut its price target, citing the impact of Tuesday's verdict. While Zillow is not a defendant in either lawsuit, Jefferies said Tuesday's verdict "increases the chances of a ban on commission sharing and Zillow having to pivot the business model."

Persons: Douglas, Mike Segar, Douglas Elliman, Berkshire Hathaway's, eXp, Glenn Kelman, Soham Bhonsle, Jefferies, Zillow, HomeServices, Chibuike Oguh, Jonathan Stempel, Michelle Price, Bill Berkrot, Matthew Lewis Organizations: REUTERS, World Holdings, National Association of Realtors, Compass, NAR, Thomson Locations: Manhattan's, New York City , New York, U.S, Kansas City , Missouri, Berkshire, America, Western Missouri, Missouri , Kansas, Illinois, New York

☆ Major landlords, RealPage sued in DC for alleged rent-fixing scheme
▼ + stars: | 2023-11-01 | by ( Laya Neelakandan | ) www.cnbc.com time to read: +3 min

The alleged collusion violates the District of Columbia's Antitrust Act, the office said. Washington, D.C., Attorney General Brian Schwalb's office said Tuesday that it's suing RealPage, a property management software company, and 14 of the district's largest landlords for allegedly colluding to raise rents. In a statement to CNBC, a company spokesperson for William C. Smith & Co. said the company does not comment on pending litigation. The software uses proprietary, nonpublic data and statistical models to estimate supply and demand and generate a price to maximize the landlord's revenue. RealPage has previously been sued by renters in the Southern District of California and Tennessee over the past year.

Persons: Igor Golovniov, Brian Schwalb's, it's, RealPage, William C, Smith, didn't, Schwalb, Jennifer Bowcock, Berkshire Hathaway Organizations: Inc, Getty, Columbia's, Washington , D.C, CNBC, Southern District of, D.C, National Association of Realtors, CNBC PRO Locations: Washington ,, Southern District, Southern District of California, Tennessee, Seattle , Texas, Boston, Missouri, Berkshire

☆ 'I would never recommend this to anybody': We accidentally bought a derelict Victorian apartment for $12,000 at an auction and transformed it into our dream home
▼ + stars: | 2023-11-01 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +9 min

Claire Segeren and her boyfriend bought a Victorian house in the Scottish Highlands by accident. They bid on the wrong property in an auction and spent four years renovating the derelict house. We accidentally bought a crumbling Victorian villa at an auctionThe couple were shocked when they saw the villa in person. From the auction brochure, the couple weren't too concernd Claire SegerenHe left the auction in a panic and called me. The completed front room in the Scottish villa.

Persons: Claire Segeren, —, Cal Hunter, We'd, Cal Joshua Sivarajah, Cal, It's, Claire Segeren Cal, van, Joshua Sivarajah Cal, Jameswood, Segeren, we've, could've, Segeren wouldn't Organizations: Scottish Highlands, Service, Canada, University of Glasgow School of Medicine, Cal, Jameswood Villa, eBay Locations: Scottish, Scotland, Canada, Hull, England, French, Glasgow, Jameswood Villa, Sandbank, Dunoon

☆ I moved to Denver and regretted it because it was freezing, expensive, and hard to make friends. I'm much happier now living in Spain.
▼ + stars: | 2023-11-01 | by ( Robin Madell | ) www.businessinsider.com time to read: +8 min

Michiels then moved to Spain and finds it easier to make friends. AdvertisementAdvertisementThis as-told-to essay is based on a conversation with Eric Michiels, a 51-year-old a former resident of Denver, Colorado, about his experience living in Denver. I moved to Denver, Colorado in May 2021 from Atlanta, Georgia because of a job decision. I had a Toyota Prius, and because Denver is extremely hilly, the car couldn't make it; it was too slippery. Some things are more expensive here — for example cars and technology — but the day to day is a lot cheaper.

Persons: Eric Michiels, Michiels, —, It's, I'd, didn't, there's, Jenna Gyimesi Organizations: Service, Toyota Prius, Denver, Visa, Healthcare Locations: Atlanta, Denver, Spain, Denver , Colorado, Atlanta , Georgia, Colorado, Colorado Denver, Lakewood, Malaga, jgyimesi@insider.com

☆ The Money Has Stopped Flowing in Commercial Real Estate
▼ + stars: | 2023-10-31 | by ( Peter Grant | ) www.wsj.com time to read: 1 min

The exodus of workers and businesses during the pandemic left San Francisco a shell of its former self. But there are small signs of a turnaround. WSJ explores whether new civic policies and fresh commercial interest can rejuvenate the city’s downtown. Banks, insurance companies and other commercial property lenders have been cutting back since the first half of 2022 when the Federal Reserve began increasing interest rates and recession concerns intensified. But creditors have been even more reluctant to make new loans as Treasury bond yields have soared since early August.

Persons: Roye Organizations: Federal Reserve Locations: San Francisco

☆ The warped financial logic fueling America’s ‘doom loop’
▼ + stars: | 2023-10-31 | by ( Adam Rogers | ) www.businessinsider.com time to read: +11 min

Well, when a landlord doesn't lower the rent to get a new retail tenant, it's because that landlord can't. They're free to renegotiate or refinance the terms of mortgages, given the extraordinary downturn facing retail storefronts. And the future will be full of even higher vacancy rates, higher interest rates, and lower rents. Retail rents have flattened, she says, but the construction of retail space has not. Still, from an urban-planning standpoint, the way we finance retail space makes no sense.

Persons: You've, apocalypses, that's, It's, David Greensfelder, Greensfelder, Banks, what's, —, Larisa Ortiz, Ortiz, Justin Sullivan, Lorenzo Perez, I've, Rachel Meltzer, Kazuko Morgan, Perez, Culdesac, Something's, Meltzer, Adam Rogers Organizations: McKinsey & Company, Verizon, Republics, Harvard Locations: America, Urban, Manhattan, San Francisco, Market, vaya, What's, Phoenix, That's, LA, New York, Wakefield, Tempe , Arizona

☆ Climate change is driving insurance rates up, forcing developers to add weather-proofing
▼ + stars: | 2023-10-31 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +2 min

Along East Boston's waterfront sits The Eddy, a two-building property with over 250 luxury apartments. When developers imagined The Eddy in 2014, they kept that weather exposure in mind. According to the Urban Land Institute, or ULI, the developers built The Eddy nine inches higher than the original property that was previously located on the site. The developers also constructed The Eddy with walls that can withstand up to 100 miles per hour of wind. It found that implementing mitigation measures according to modern building codes could save 600 lives and prevent 1 million nonfatal injuries.

Persons: Eddy, ULI, Lindsay Brugger Organizations: Urban Land Institute, Global, National Institute of Building Sciences Locations: Lahaina, Maui, Lahaina , Hawaii, Boston

KHAN YOUNIS, Gaza Strip (AP) — A flurry of Israeli airstrikes Tuesday on a refugee camp near Gaza City leveled apartment buildings, leaving craters where they once stood, as ground troops battled Hamas militants across northern Gaza and attacked underground compounds. Larger ground operations have been launched north and east of Gaza City. Jonathan Conricus, an Israeli military spokesman, called Gaza City the “center of gravity of Hamas" but said strikes continue in other parts of the territory. Hamas released its own video showing what it said was a battle in northern Gaza on Sunday. Zaki Abdel-Hay, a Palestinian living a few minutes' walk from the road south of Gaza City, said people are afraid to use it.

Persons: KHAN YOUNIS, Benjamin Netanyahu, Juliette Touma, ”, Saleh al, Ali Kaseeb, Jonathan Conricus, Conricus, Zaki Abdel, Hay, Dawood Shehab, Netanyahu, “, Megidish, ___ Jeffrey, Keath, Wafaa Shurafa, Samy Magdy, Kareem Chehayeb Organizations: Hamas, Jazeera, Associated Press, UNRWA, U.S, U.S . Navy, Red Sea, West Bank, Gaza Health Ministry, Gaza's Health Ministry, Islamic, Al, Palestinian, World Health Organization Locations: Gaza, Gaza City, Israel, Gaza City's, Al, Syria, Iran, Eilat, Yemen, U.S, Egypt, Aroura, Northern Gaza, Gaza's, Palestinian, Al Jazeera, Cairo, Deir al, Beirut, israel

☆ The Cost of Being Disabled in New York City Housing
▼ + stars: | 2023-10-31 | by ( Claire Perlman | ) www.nytimes.com time to read: +1 min

Winning, then losing, the housing lotteryFor many disabled New Yorkers, the city’s affordable housing lottery seems like the answer. Under city guidelines, only 5 percent of units are set aside for tenants with mobility disabilities and 2 percent for people with hearing or vision disabilities, and zoning laws don’t allow any crossover. “They don’t understand the gravity of what they’re doing.”Sabrina Bennett, 38, has been applying to the housing lottery for more than a decade, before she became disabled from a spinal cord condition in 2012. She now uses a wheelchair or a walker to get around, and is living with her husband in supportive housing through the city’s shelter system until she can find an accessible apartment she can afford. She’s hoping she finds something through the housing lottery, but she has already been in the shelter system for five years.

Persons: Méndez, ”, “, ” Sabrina Bennett Organizations: Yorkers

☆ The First of Our Friends to Go
▼ + stars: | 2023-10-31 | by ( James Poniewozik | More About James Poniewozik | ) www.nytimes.com time to read: +2 min

Instead, “Friends” became a show about the first decade of adult life. This may be part of the reason it found a perpetually renewing audience among Millennials, who found it in syndication, and Gen Z, who found it streaming. Your job might be a joke, you might be broke, your love life D.O.A., but it would get better. You and your friends would make it better. The “Friends” finale, in 2004, left the characters at the end of the beginning, getting married, having kids, moving away.

Persons: Kurt Cobain’s, Marcel the, ”, Millennials, Gen Z, D.O.A, Matthew Perry’s Chandler, Joey, Matt LeBlanc Locations: Manhattan

☆ Is Buying Real Estate With a Friend Really a Good Idea?
▼ + stars: | 2023-10-31 | by ( Tim Mckeough | ) www.nytimes.com time to read: 1 min

In the early days of the pandemic, Jonathan Travis and his friend Ethan Rafii were visiting another friend’s country house outside New York City when they began to dream big. What if they pooled their resources and bought a shared house together? “To be candid, we were having a mushroom experience,” said Mr. Rafii, 38, who works in finance and is a partner in Kettl, a Japanese tea company. He and Mr. Travis had become friends through a shared passion for art. As they were lounging that night, Mr. Travis suggested that a shared house could be not only a getaway from their Manhattan apartments, but a place to display their collections and maybe start an artists’ residency.

Persons: Jonathan Travis, Ethan Rafii, ”, Rafii, Travis Locations: New York City, Kettl, Manhattan

☆ Matthew Perry's 'Friends' co-stars pay tribute to fallen cast mate
▼ + stars: | 2023-10-30 | by ( Steve Gorman | ) www.reuters.com time to read: +2 min

David Schwimmer, Lisa Kudrow, Matthew Perry, Courteney Cox Arquette, Jennifer Aniston and Matt LeBlanc of "Friends", appear in the photo room at the 54th annual Emmy Awards in Los Angeles, U.S., September 22, 2002. REUTERS/Mike Blake/File Photo Acquire Licensing RightsLOS ANGELES, Oct 30 (Reuters) - The five surviving co-stars of the hit 1990s television sitcom "Friends" paid tribute on Monday to their fallen cast mate, Matthew Perry, in a joint message lamenting his death two days earlier as an "unfathomable loss." The cause and manner of Perry's death are to be determined by the Los Angeles County Medical Examiner's Office, following completion of an autopsy with toxicology tests. Perry's death came one year after publication of his memoir, "Friends, Lovers, and the Big Terrible Thing," which chronicled his decades-long struggle with addition to prescription painkillers and alcohol. Reporting by Steve Gorman in Los Angeles; Editing by Lincoln Feast.

Persons: David Schwimmer, Lisa Kudrow, Matthew Perry, Courteney Cox Arquette, Jennifer Aniston, Matt LeBlanc, Mike Blake, Courteney Cox, Perry, Matthew, Chandler Bing, Steve Gorman, Lincoln Organizations: REUTERS, People, Los Angeles, Los Angeles County Medical, NBC, Thomson Locations: Los Angeles , U.S, Los Angeles, Los Angeles County, Manhattan

☆ Inside Citadel Securities' six-week-long training for newbie traders, where playing poker and learning to fail are part of the job
▼ + stars: | 2023-10-30 | by ( Emmalyse Brownstein | ) www.businessinsider.com time to read: +12 min

Citadel, a hedge fund, and Citadel Securities, its sister market-making firm, were founded by billionaire Ken Griffin in 1990 and 2002. This work-hard, play-hard culture is evident in the firms' training of new employees, including its most junior ranks. They also had a Q&A with Peng Zhao, the CEO of Citadel Securities, who touched on how to prioritize time and find ways to be a leader, among other topics. The training program hasn't always been quite this involved. Fan lives in New York and will be based in Citadel Securities' Manhattan office.

Persons: onboarding, Ken Griffin, Griffin, Pete Becker, PATRICK T, FALLON, Peng Zhao, hasn't, It's Becker's, Becker, Joe DeNotta, Olivia Fan, Olivia, DeNotta, would've, It's, Pete, Andrew, We'll, We've, They're, Fan Organizations: Citadel Securities, Disney, Citadel, New York Stock Exchange, Getty, Harvard, MIT Locations: Midtown, New York, Manhattan

Skinner is running for reelection to the City Council of Johns Creek, an Atlanta suburb of about 85,000. In 2020, they were pivotal in Democrat Joe Biden's close victory over Trump, the Republican incumbent, in the president election. “President Trump is obviously divisive,” said Skinner in a interview, insisting the endorsement “was about the veterans” rather than Trump himself. I don’t want to become Atlanta,” said Kramer, the Johns Creek Republican. Johns Creek is about 52% non-Hispanic white.

Persons: Stacy Skinner, “, Donald Trump, Skinner, ”, Devon Dabney, Betsy Kramer, “ I'm, ” Kramer, “ I’m, Democrat Joe Biden's, Brad Raffensperger, Brian Kemp, Trump, It’s, Sarah Reckhow, Dabney, ” Dabney, Johns, Kramer, I’m, Jason Miller, ” Miller, Allen Sells, “ I’ve, Miller, Sells, Bridget Thorne, She’s Organizations: Veterans, Trump, Republicans, City Council, Republican, Democrat, Republican Party, Georgia, Raffensperger, Michigan State University, Democratic, Civil Rights Movement, Johns, . Census, City Locations: China, Mexico, Johns Creek, Atlanta, Fulton County, Fulton, Georgia's, lockstep, Washington, Georgia, U.S, America, Johns, Black, Boston, ”, Roswell, “

[1/6] Cast member Matthew Perry attends the premiere of the film "17 Again" in Los Angeles April 14, 2009. "We are incredibly saddened by the too soon passing of Matthew Perry," NBC Entertainment said. The Los Angeles Times and TMZ.com, both citing unnamed law enforcement sources, reported that the American-Canadian performer was found dead in a hot tub or jacuzzi. As a youngster, Perry became a top-ranked junior tennis player before moving to Los Angeles to pursue acting and improvisational comedy. Reporting by Steve Gorman in Los Angeles; Additional reporting by Ismail Shakil in Ottawa; Editing by Raju GopalakrishnanOur Standards: The Thomson Reuters Trust Principles.

Persons: Matthew Perry, Phil McCarten, Chandler Bing, Perry, Perry's, Chandler, Jennifer Aniston, Courteney Cox, David Schwimmer, Matt LeBlanc, Lisa Kudrow, Monica Geller, Cox, Rachel, Joey, Ross, Matthew, Matty, I've, Sunshine, Ally McBeal, Pierre Trudeau, Trudeau's, Justin Trudeau, Trudeau, Steve Gorman, Ismail Shakil, Raju Gopalakrishnan Organizations: REUTERS, NBC, NBC Entertainment, Los Angeles Times, HBO Max, New York Times, Canadian, Thomson Locations: Los Angeles, Canadian, Palisades, Manhattan, U.S, Beverly Hills, Massachusetts, Ottawa

☆ New Yorkers Need To Quit Shopping Online - The New York Times
▼ + stars: | 2023-10-29 | by ( Sonja Anderson | ) www.nytimes.com time to read: +3 min

For a while, the pandemic was a valid excuse for buying online. To avoid spreading the virus, housebound Americans inflamed their long-growing dependency on e-commerce, with online sales increasing by 43 percent in 2020. Now, New York, like everywhere else, has moved on from social distancing: Subway ridership is up and mostly unmasked, and tourism’s certainly back. The next big thing in New York delivery is the extra-large commercial cargo bike. If we want to do better for the environment, we shouldn’t be taking steps to enable more e-commerce, but instead considering how much we could help ourselves by not buying online.

Persons: tourism’s, Mark Levine, It’s Locations: , New York, Manhattan, New York

☆ Matthew Perry's family 'heartbroken' by 'Friends' star's death
▼ + stars: | 2023-10-29 | by ( Rich Mckay | ) www.reuters.com time to read: +4 min

[1/3] Actor Matthew Perry waits to announce the nominations for the Golden Globe Awards during a news conference in Beverly Hills, California, December 14, 2006. REUTERS/Fred Prouser/File Photo Acquire Licensing RightsOct 29 (Reuters) - Matthew Perry's family, friends and fellow celebrities on Sunday mourned the passing of the wise-cracking co-star of 1990s sitcom "Friends" who died at his Los Angeles home in an apparent drowning this weekend. "Matthew brought so much joy to the world, both as an actor and a friend," Perry's family told People magazine on Sunday in a statement. The official "Friends" webpage on Instagram said: "We are devastated to learn of Matthew Perry’s passing. "I'll remember that character for the rest of my life," she said as the audience cheered, according to the Los Angeles Times.

Persons: Matthew Perry, Fred Prouser, Matthew Perry's, Matthew, Perry, Chandler Bing, Jennifer Aniston, Lisa Kudrow, David Schwimmer, Matt LeBlanc, Courtney Cox, Instagram, Matthew Perry’s, Singer Adele, Chandler, He's, Alyssa Milano, “, Matty, Milano, ”, Rainn Wilson, Dwight, R.I.P, Rich McKay, Marguerita Choy Organizations: Golden Globe, REUTERS, Sunday, Los Angeles, Police, Los Angeles Times, Los, Angeles, Angeles County Medical, Thomson Locations: Beverly Hills , California, Los Angeles, Massachusetts, Canada, Los, Angeles County, Manhattan, Vegas, Atlanta

☆ Opinion | There Is Another Paris
▼ + stars: | 2023-10-28 | by ( Cole Stangler | ) www.nytimes.com time to read: +3 min

Tourists visiting the Sacré-Coeur Basilica, the magnificent snow-white cathedral towering over northern Paris, tend to descend the Butte Montmartre the way they came up. But once they’ve had enough, they’ll most likely make their way down the south side of the hill, following the path of the funicular toward the recognizable sights of central Paris. This Paris exists mostly outside the gaze of tourists, the whopping 12.7 million people who visited the area this summer. But they refuse to abide by the half-theme-park, half-museum ambience that prevails in much of central Paris. Here, another Paris is alive and kicking.

Persons: they’ve Organizations: Coeur Basilica Locations: Coeur, Paris, Montmartre, Belleville, Eastern, Southern Europe, Maghreb, China

☆ Joe Biden wants more people to start living in empty offices
▼ + stars: | 2023-10-28 | by ( Polly Thompson | ) www.businessinsider.com time to read: +3 min

Office vacancies are at a 30-year high as WFH continues after the pandemic. But the White House initiative will make more than $35 billion available from existing federal programs in the form of grants and low-interest loans to encourage developers to convert offices into residential. Office vacancies stand at a 30-year high of 18.2%, according to research by CBRE. AdvertisementAdvertisementThe White House hopes the initiative will alleviate both these problems, creating more housing and revitalizing the commercial real estate sector. Conversions are faster than new construction, 20% cheaper, and produce fewer greenhouse gas emissions, the White House added.

Persons: —, Joe Biden's, Biden, Silverstein, Lael Brainard Organizations: Biden Administration, Service, Resources, Department, Transportation, CBRE, National Association of Realtors, It's, National Economic Council, ABC News Locations: Manhattan, New York, San Francisco, It's

☆ A 27-year-old real-estate investor making up to $15,000 a month in revenue explains how to snag a multi-unit rental property below $200,000
▼ + stars: | 2023-10-28 | by ( Laila Maidan | ) www.businessinsider.com time to read: +7 min

A sweet spotBerman said his bank preapproved him for a $275,000 mortgage, so he had a budget to stay within. He reviewed active property listings on Apartments.com and Zillow to see the rental rates and what was successfully rented in the previous 30 days. That's less than half the amount and a much more manageable payment, Berman noted. On the pricier property, your overall interest payments amount to about $538,000 versus $250,000 on the cheaper property. You end up with a larger mortgage payment, he said.

Persons: Cody Berman, Berman, Price, It's Locations: Massachusetts, Connecticut, Rhode, Windham County , Connecticut

☆ Italy to Raise Taxes for Flat Owners Doing Multiple Short-Term Rentals
▼ + stars: | 2023-10-28 | by ( Oct. | At A.M. | ) www.usnews.com time to read: +1 min

ROME (Reuters) - Italy's government plans to hike taxes on short-term rentals by people letting out more than one flat, a draft of the 2024 budget seen by Reuters showed on Saturday. The move comes in the wake of criticism of Airbnb and other short-term rental platforms for contributing to a shortage of affordable housing for residents in the most popular tourist destinations. Italian legislation allows owners to rent out their apartments and pay a tax rate of 21% on earnings. Prime Minister Giorgia Meloni intends to raise that band to 26% "in the case of the short-term rental of more than one apartment in each tax period," the draft showed. However, the government has scaled back its initial plans as previous drafts reported by Reuters envisaged increased taxation also applying to short-term rentals of single apartments.

Persons: Giorgia Meloni, Meloni, Giuseppe Fonte, Keith Weir Organizations: Reuters Locations: ROME

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