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☆ Mississippi and West Virginia have some of the poorest Americans — and the highest home ownership rates
▼ + stars: | 2024-07-09 | by ( Samantha Delouya | ) edition.cnn.com time to read: +6 min

When comparing personal wealth data with homeownership, a curious pattern emerges: Many states with high homeownership rates have lower income levels and vice versa. According to Federal Reserve data, West Virginia’s average personal income of $52,585 per capita is the second-lowest in the US. However, despite its relatively low personal income levels, it has the highest homeownership rate of all 50 states, at 77%, according to US census data. Mississippi—the only state with a lower average personal income than West Virginia—has the third-highest homeownership rate in the country. Even West Virginia, which counts three out of every four housing units in the state as owner-occupied, isn’t insulated, Sansalone said.

Persons: Vera Sansalone, Sansalone, “, ”, ” Sansalone, West Virginia —, Mike Simonsen, Loren Elliott, Simonsen, They’re, ” Simonsen, Laurie Goodman, ” Goodman, Eric Adams, ” Adams, Stephanie Moulton, ” Moulton, “ We’ve Organizations: CNN, Federal Reserve, West Virginia, Research, Housing, Center, Urban Institute, Republicans, New York City, Harvard University’s, for Housing Studies, Ohio State University Locations: West Virginia, Mannington, Boston, Mississippi, West, ” New York , California, Massachusetts, San Francisco , California, New York City, San Francisco, Manhattan, RentCafe, Washington DC, New York, Dallas

☆ Barcelona anti-tourism protesters fire water pistols at visitors
▼ + stars: | 2024-07-08 | by ( Jack Guy | ) edition.cnn.com time to read: +3 min

CNN —Protesters in Barcelona have sprayed visitors with water as part of a demonstration against mass tourism. Demonstrators marching through areas popular with tourists on Saturday chanted “tourists go home” and squirted them with water pistols, while others carried signs with slogans including “Barcelona is not for sale.”According to Barcelona's City Council, some 2,800 people demonstrated against mass tourism in the center of Barcelona on Saturday. Josep Lago/AFP/Getty ImagesAccording to official figures, almost 26 million visitors made an overnight stay in the Barcelona region in 2023, spending €12.75 billion ($13.8 billion). Protesters squirt water pistols during Saturday's protest. In April, locals in the Canary Islands mobilized to protest against excessive tourism, blaming visitors for pricing them out of their homes and causing environmental damage.

Persons: Lorena Sopêna, de, Josep Lago, Decreixement Turístic, Jaume Collboni, Collboni, Louis, Antoni Gaudí’s Organizations: CNN, Protesters, “ Barcelona, Barcelona's City Council, Europa Press, Assembly, Tourism Degrowth, Louis Vuitton, Antoni Gaudí’s Parc, Canary Locations: Barcelona, Spain, Canary, Mallorca, AFP, Antoni Gaudí’s Parc Güell

☆ Abolish HOAs: Homeowner Associations Make It Harder to Own a House
▼ + stars: | 2024-07-08 | by ( Ned Resnikoff | ) www.businessinsider.com time to read: +10 min

These private quasi-governments are called homeowner associations, or HOAs. While California has the most HOAs of any state (50,000), Florida has far more HOA residents as a percentage of its population. The association also provided its residents with "the usual privileges of a citizen in any free state," Tullock wrote. Readers will not be shocked to learn that Clarke and Freedman also found that HOA residents were more likely to be white or Asian than non-HOA residents. (Cashin observed that several states, including New Jersey and Texas, had laws allowing HOA residents to subtract the cost of privately provided infrastructure from their taxes.)

Persons: Norman Rockwell, Ron DeSantis, HOA, Quinn Slobodian, HOAs —, Gordon Tullock, Tullock, it's, Jim Crow, Wyatt Clarke, Matthew Freedman, Clarke, Freedman, Robert Reich, Sheryll Cashin, Cashin, HOAs Organizations: Gov, Guardian, HOAs, George Mason University, HOA Locations: An, HOA, Florida, While California, Rossmoor , California, America, Pima County, New Jersey, Texas, That's

☆ I'm a single mom who rents out my yard as a private dog park. I earned an extra $7,400 in 21 months to pay my bills.
▼ + stars: | 2024-07-07 | by ( Alcynna Lloyd | ) www.businessinsider.com time to read: +6 min

Taking on a second job that required me to be physically somewhere other than my home wasn't really an option. I'm a single mom with a full-time job and two little kids that I can't really leave them alone for more time than I spend at work. Although I still live paycheck to paycheck, the money I've earned is helping me cover my bills, including offsetting my car payment. Related storiesI have a ranch-style farmhouse home with a pool and a backyard that sits on half an acre of land. But I usually block off plenty of time on the calendar for personal yard time with my kids.

Persons: —, Samantha Bosley, I've, It's, it's Organizations: Service, Business Locations: Scottsdale , Arizona, Sniffspot, Scottsdale

☆ Small apartments are in, and it's causing rents in new buildings to drop
▼ + stars: | 2024-07-05 | by ( Eliza Relman | ) www.businessinsider.com time to read: +4 min

Developers have built a lot of new small apartments over the last few years, and the boost in supply has driven rents down. Rents for newly finished one-bedroom apartments are also falling — the median rent fell 11.9% year over year in the first quarter of 2024, the report found. More than 90,000 new apartments came online in the fourth quarter of 2023, finishing a big year of apartment construction, Redfin noted. The Redfin report is based on US Census data on "unfurnished, unsubsidized, privately financed rental apartments in buildings with five or more units." Studios and one-bedrooms tend to be more profitable for developers to build than larger apartments, and developers aren't building enough apartments suitable for big families.

Persons: Redfin, you've, Sheharyar Bokhari, — Organizations: Service, Business, Harvard Locations: Redfin

☆ I've traveled to 20 countries in 2 years. I found the most stunning coast in one of the least-visited countries.
▼ + stars: | 2024-07-05 | by ( Marielle Descalsota | ) www.businessinsider.com time to read: +8 min

Last month, I traveled to Timor-Leste, a country located in the South Pacific. It's also the 14th least-visited country in the world and the least-visited in Asia, according to a January report from CEOWorld magazine. Some 81,000 tourists visited Timor-Leste in 2023 — putting it just ahead of Chad and Sierra Leone, per the report. Marielle DescalsotaOnly a handful of airlines fly to Dili, the capital, where the only international airport in Timor-Leste is located. As I grew up in Singapore and can speak some Indonesian, when locals didn't speak English, that was my fallback language.

Persons: —, I've, France —, It's, Fernando, Hilton, nasi goreng —, 9Milhas, Gloria, Jesus Christ —, Marielle Organizations: Service, Leste, South Pacific, Business, National Statistics Directorate Timor, YouTube, Google, Timor Plaza, Apartments, East Timor Centavo, US Department of State, Burger, Coffee, Cristo Locations: Maldives, France, Timor, South, Bahamas, Asia, Chad, Sierra Leone, Dili, Bali, Indonesia, Darwin, Australia, Dili's, sightsee, East Timor, Indonesian, Singapore, Marielle, Cristo Rei, It's, Angola

☆ Apartments Could Be the Next Real Estate Business to Struggle
▼ + stars: | 2024-07-04 | by ( Joe Rennison | Julie Creswell | ) www.nytimes.com time to read: +1 min

Rents have soared in recent years because of housing shortages across much of the country and a bout of severe inflation. But a growing number of rental properties, especially in the South and the Southwest, are in financial distress. In many parts of the country, rents are starting to fall. Interest rates, ratcheted higher by the Federal Reserve to combat inflation, have made mortgages much more expensive for building owners. These problems haven’t yet turned into a crisis, because most owners of apartment buildings, known in the real estate industry as multifamily properties, haven’t fallen behind on loan payments.

Persons: haven’t Organizations: Federal Reserve Locations: Houston, Tampa, Fla

☆ Manhattan is now a 'buyer's market' as real estate prices fall and inventory rises
▼ + stars: | 2024-07-02 | by ( Robert Frank | ) www.cnbc.com time to read: +1 min

Manhattan is becoming a buyer's market as apartment prices fell and inventory rose in the second quarter of 2024, according to new reports. The average real estate sales price in Manhattan fell 3% to just more than $2 million, according to a report from Douglas Elliman and Miller Samuel. The median price fell 2% to $1.2 million, and prices for luxury apartments fell for the first time in more than a year, according to the report. The falling prices and rising number of unsold apartments in Manhattan stand in contrast to the national real estate landscape, where continued tight supply continues to keep prices high. Brokers and real estate analysts say the strong prices in Manhattan post-Covid became unsustainable, and both buyers and sellers are finally capitulating to a higher interest rate environment.

Persons: Douglas Elliman, Miller Samuel, Jonathan Miller, Brown Harris Stevens Locations: Manhattan, New York City

☆ From Atlanta to San Francisco: These are the 10 best U.S. cities to live in based on culture, education, infrastructure and more
▼ + stars: | 2024-06-30 | by ( Celia Fernandez | ) www.cnbc.com time to read: +2 min

The Economist Intelligence Unit Global Liveability Index ranked the best cities to live in the U.S. for 2024. For the third year in a row, Vienna, Austria, ranked as the world's best city to live. The Hawaii city landed in the top spot because of its high scores in education, infrastructure, and stability compared to other U.S. cities. The 10 best cities to live in the U.S.Honolulu, Hawaii Atlanta, Ga. Pittsburgh, Penn. 29 on the global list, ahead of other major U.S. cities like New York, L.A., and San Francisco.

Organizations: Economist Intelligence, Economist Intelligence Unit, Health, U.S, Los Angeles, Honolulu, Swiet, CNBC, U.S ., Wash . Washington D.C, Ill Locations: U.S, Vienna, Austria, America , New York, Los, Honolulu, Hawaii, America's, States, U.S . Honolulu, Hawaii Atlanta, Ga, Pittsburgh, Penn, Seattle, Wash . Washington, Chicago, Boston, Mass, Miami, Fla, San Francisco, Calif . Minneapolis, Minn, Atlanta , Georgia, New York

☆ Gautam Adani wants to transform India’s biggest slum
▼ + stars: | 2024-06-29 | by ( Jessie Yeung | Noemi Cassanelli | ) edition.cnn.com time to read: +18 min

Noemi Cassanelli/CNNA man works at Shaikh’s workshop in Dharavi slum on April 14. “All slum redevelopment is quite fraught,” Kamath said. Noemi Cassanelli/CNNWomen chatting in Dharavi on April 14 Noemi Cassanelli/CNNA woman carrying fabric walks along a narrow alley in Dharavi on April 14. He is India’s largest airport operator and owns India’s biggest private port operator and private thermal power operator. The state and Adani deny any wrongdoing, but that hasn’t stopped many residents from viewing Adani and his government ties with suspicion.

Persons: Noemi Cassanelli, Masoom Ali Shaikh, ”, “, Gautam Adani, Jeff Bezos, ” Adani, ” Shaikh, ” Lofty, Dharavi, they’re, Lalitha Kamath, ” Kamath, aren’t, Dilip Gabekar, Narendra Modi, Adani, ’, Gabekar, Shaikh, They’re, Baburao Mane, Mane, CNN Neeta Jadhav, Neeta Jadhav, Jadhav, Dhanshuk Purshottamwala, He’s, Kamath, Prasant, hasn’t, Modi, ferociously, Reshma Prasant Organizations: CNN, India CNN, Adani, Tata Institute of Social Sciences, Reuters, Adani Enterprises, Bharatiya Janata Party, Private, Manohar Joshi, NDTV Locations: Mumbai, India, CNN Mumbai, Dharavi, Uttar Pradesh, Gujarat, Tamil Nadu, “, Adani, Maharashtra, It’s, India’s

☆ I was rejected from Google 7 times. Here's what I changed to finally land my dream job.
▼ + stars: | 2024-06-28 | by ( Qingyue Annie | ) www.businessinsider.com time to read: +9 min

Read previewMy journey to finally landing a job at Google was an emotional roller coaster. Looking up at the stars on my walk home, I'd remember why I was working for my goal, grit my teeth, and do one more round of practice. My final attemptWhile I valued my experience at Amazon, Google still felt like an elusive dream to me. Qingyue(Annie) WangI have the job of my dreamsIt's been two years since I got the news that I'd finally landed a job at my dream company. I'm grateful to have had the opportunity to finally experience Google's culture and even become an internal career coach to support other Googlers in their career growth.

Persons: —, I'd, hadn't, they'd, Annie, Wang I, It's, Qingyue, Wang Organizations: Service, Google, Business, Apple

☆ Have private equity's 'Hunger Games' recruiting tactics gone too far?
▼ + stars: | 2024-06-28 | by ( Reed Alexander | ) www.businessinsider.com time to read: +10 min

The on-cycle recruiting process is not easy on these young bankers, who are often already working 80+ hour weeks in their new investment-banking jobs. The conventional wisdom on Wall Street has always been that the most hawkish PE firms walk away with the most impressive candidates. Odyssey doesn't participate in on-cycle recruiting because it prefers to fill positions in what is known as "off-cycle," or the months that follow the initial recruiting process. It all leaves me thinking about the PE recruiting cycles of the future. To be overly cautious, I've already penciled in a calendar reminder for 2025: "Monitor for PE recruiting cycle kickoff."

Persons: Thoma, Goldman Sachs, haven't, Emmalyse Brownstein, Anthony Keizner, They're, Keizner, spokespeople, —, I've, I'm Organizations: Service, Wall, Business, Apollo, KKR, Thoma Bravo, JPMorgan, Search, Rice, BI, TPG, Bain Capital Locations: freaked, New York City, New York, Clayton, Dubilier, Thailand

☆ The 84-Year-Old Visionary With One Answer for Two Real Estate Crises
▼ + stars: | 2024-06-28 | by ( William Falk | ) www.nytimes.com time to read: +1 min

When Liberty Tower went up for sale in Manhattan’s financial district in 1978, there was only one bidder for the 33-story skyscraper. The building was dated and dilapidated, and even though rent had plunged to $5 a square foot, it was two-thirds vacant. New York City itself had tumbled into a downward spiral after a severe fiscal crisis and a deep recession. “The financial district was failing. Liberty Tower was the first major residential conversion of an office building in New York’s financial district.

Persons: Joseph Pell Lombardi, ” Mr, Lombardi, Nobody Organizations: Liberty, New, Sinclair Oil, New York Stock Exchange, World Trade Center Locations: New York City, New York, Liberty, New

☆ A Gen Zer who moved to Indianapolis, where she pays less than $1,700 in rent, shares the pros of living in 'a big city with small-town charm.'
▼ + stars: | 2024-06-27 | by ( Madison Hoff | ) www.businessinsider.com time to read: +7 min

She also resided in New York City, and she has studied abroad and worked in Italy. Now working and living in Indianapolis, Ball doesn't see herself leaving this Midwest city soon. With a population of over 800,000, Ball finds Indianapolis is "a big city with small-town charm." "There was just something really charming about the city," Ball said. Courtesy of Milan BallShe does miss getting around via subway in New York City and finds it tough not having a car to get around in Indianapolis.

Persons: —, she's, Ball, Zers, Indiana University Lilly, I'm, didn't, Ball's, Milan Organizations: Service, Business, Midwest Ball, Indianapolis, Indiana University, Indiana University Lilly Family School of Philanthropy, Innovation, Public Locations: Indianapolis, Virginia, New York City, Italy, Midwest, New York, Washington, DC, York, Williamsburg, White

☆ Here's where U.S. rents are rising — and falling — the fastest
▼ + stars: | 2024-06-26 | by ( Greg Iacurci | ) www.cnbc.com time to read: +4 min

Zumper analyzed median asking rents for apartment listings in the largest 100 U.S. cities by population. Rents have also risen by at least 10% for both one- and two-bedroom apartments in other major metros: Lincoln, Nebraska; Chicago; Buffalo, New York; Madison, Wisconsin; Rochester, New York; and New York City, according to Zumper. What causes rent inflationAt a high level, rent inflation is guided by supply-and-demand dynamics, said Crystal Chen, an analyst who authored the Zumper analysis. Basically, areas with fast-growing rents are seeing demand outstrip the supply of available apartments, while those with falling rents have seen their apartment inventories growing. Rent inflation has fallen substantiallyRent inflation plummeted in the early days of the Covid-19 pandemic.

Persons: Jamie Kelter Davis, Zumper, Crystal Chen, Eric Adams, Fitch, Chen Organizations: Bloomberg, Getty, New, New York City Department of Housing Preservation, Development, Finance, York City Locations: Chicago, U.S, Syracuse , New York, Lincoln , Nebraska, Buffalo , New York, Madison , Wisconsin, Rochester , New York, New York City, Oakland , California, Memphis, Chattanooga , Tennessee, Cincinnati , Ohio, Colorado Springs , Colorado, Irving , Texas, Jacksonville , Florida, Raleigh, Greensboro, Durham , North Carolina, New York, Akron , Ohio, Wichita , Kansas, York

☆ When Your Building Super Is an A.I. Bot
▼ + stars: | 2024-06-26 | by ( Julie Weed | ) www.nytimes.com time to read: +1 min

The new maintenance coordinator at an apartment complex in Dallas has been getting kudos from tenants and colleagues for good work and late-night assistance. That’s because the maintenance coordinator is an artificial intelligence bot that the property manager, Jason Busboom, began using last year. The bot, which sends text messages using the name Matt, takes requests and manages appointments. The team also has Lisa, the leasing bot that answers questions from prospective tenants, and Hunter, the bot that reminds people to pay rent. assistant: Lisa is professional and informative; Matt is friendly and helpful; and Hunter is stern, needing to sound authoritative when reminding tenants to pay rent.

Persons: Jason Busboom, Matt, Lisa, Hunter, Busboom Locations: Dallas, Cypress Waters

☆ NYC shuttered 80% of its Airbnbs in an attempt to make housing more affordable. All that's done so far is make hotels more expensive.
▼ + stars: | 2024-06-26 | by ( Eliza Relman | Dan Latu | ) www.businessinsider.com time to read: +8 min

Read previewLast September, New York City began enforcing its strict new regulations on short-term rentals. Since then, the number of legal short-term rentals listed on Airbnb and other platforms has plummeted. Impacts of the near-banLL18 was motivated by the city's housing affordability crisis, caused in large part by a severe housing shortage. Short-term rentals, including Airbnbs, can take homes that would otherwise be lived in full-time off the market, potentially exacerbating the housing shortage. But there's some evidence, including from Irvine, California, that restricting short-term rentals can reduce rents.

Persons: —, it's, Jamie Lane, Lane, hasn't, Klossner, LL18, Eric Adams, TIMOTHY A, CLARY, Scott Stringer, Airbnb, It's, Nathan Rotman Organizations: Service, Business, Mayor's, Criminal, Special, York City, Hotel, Former, Big Apple, New Locations: New York City, New, York, Irvine , California, New York

☆ Top private-equity firms, including Apollo and KKR, just kicked off 2026 associate recruiting. Wall Street juniors are shocked and scrambling.
▼ + stars: | 2024-06-25 | by ( Reed Alexander | Emmalyse Brownstein | ) www.businessinsider.com time to read: +5 min

Read previewIn a surprise move that sent shockwaves throughout the junior Wall Street community on Monday, a series of leading private-equity firms kicked off recruiting for lucrative positions that won't start for two more years. The intense rite of passage known as "on-cycle recruiting" left some junior investment bankers scrambling to get in on a flurry of hastily arranged interviews. More than half a dozen industry sources confirmed to Business Insider that associate recruiting started on Monday evening. Last year, some candidates scored offers that surpassed $300,000 in all-in comp (including base salary and bonus), BI previously reported. One person with intimate knowledge of the recruiting process said that other firms that had yet to conduct their own interviews would likely refuse to start recruiting so early.

Persons: —, Clayton, Rice, hadn't, haven't, It's, Reed Alexander Organizations: Service, Wall, Business, Apollo Global Management, KKR, Labor Locations: Dubilier, New York City

☆ Paris Olympics 2024: Inside the landmark Olympic Village
▼ + stars: | 2024-06-25 | by ( Joshua Berlinger | ) edition.cnn.com time to read: +10 min

Paris CNN —When Paris last hosted the Summer Olympics 100 years ago, organizers were so keen to bring athletes under the same roof that they built the first-ever Olympic Village. Athletes sitting in front of a cabin in the Olympic Village at the 1924 Summer Olympics in Paris, France. The site for the Olympic Village was chosen in the hopes it would revitalize some of the city’s historically impoverished northern suburbs. A stool made from recyclable cardboard on display in the athletes' accommodation in the Olympic Village in Saint Denis, France. Nathan Laine/Bloomberg/Getty ImagesA cardboard bed inside an athletes' room at the Olympic Village in Saint Denis, France.

Persons: ”, Georgina Grenon, Denis, Saint, ‘, Nathan Laine, Grenon, Joshua Berlinger, ” Grenon, Jerome Giacomoni, Giacomoni, ” Sebastian Coe, Laurent Michaud, Paris Mayor Anne Hidalgo, “, ” Hidalgo, Vandoorne, Derek Van Dam Organizations: Paris CNN —, Paris, Topical, Hulton, Olympic, Organizers, Games, BBC, Bloomberg, Getty, CNN, World, Paralympic, International Energy Agency, Reuters, Paris Mayor Locations: City, Paris, France, Saint, Ile, London, Seine, Tokyo, Saint Denis, Europe

☆ Barcelona ending apartment rentals by foreign tourists
▼ + stars: | 2024-06-24 | by ( ) edition.cnn.com time to read: +3 min

The city’s leftist mayor, Jaume Collboni, said that by November 2028, Barcelona will scrap the licenses of the 10,101 apartments currently approved as short-term rentals. The boom in short-term rentals in Barcelona, Spain’s most visited city by foreign tourists, means some residents cannot afford an apartment after rents rose 68% in the past 10 years and the cost of buying a house rose by 38%, Collboni said. Local governments have announced restrictions on short-term rentals in places such as Spain’s Canary Islands, Lisbon and Berlin in the past decade. Vacation rentals platform Airbnb, which hosts a significant number of Barcelona listings, did not immediately respond to a request for comment. “Collboni is making a mistake that will lead to (higher) poverty and unemployment,” Barcelona’s tourist apartments association APARTUR said in a statement, adding the ban would trigger a rise in illegal tourist apartments.

Persons: Jaume Collboni, ” Collboni, Spain’s, Collboni, Isabel Rodriguez, “, ”, APARTUR Organizations: CNN —, Barcelona Locations: CNN — Barcelona, Spanish, Barcelona, Spain, Europe, Islands, Lisbon, Berlin

☆ Barcelona plans to ban short-term rentals, hitting the owners of 10,000 apartments
▼ + stars: | 2024-06-24 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +4 min

Read previewBarcelona plans to end short-term rentals after complaints that tourism has priced locals out of the housing market. "Tourist apartments represent just 0.77% of Barcelona's housing stock," Enrique Alcantara, president of the Barcelona Tourist Apartments Association, told media after the announcement. AdvertisementGlobal short-term rental restrictionsOther cities are similarly eyeing short-term rental restrictions to manage skyrocketing housing costs in what's been deemed the "Airbnb effect." Cities including Vancouver, Tokyo, London, Amsterdam, and Paris have all placed restrictions on the short-term rental market. Some Southeast Asian countries have banned short-term rentals completely.

Persons: —, Jaume Collboni, Collboni, Airbnb, Damià Calvet, Calvet, Enrique Alcantara Organizations: Service, Business, Spanish, Government, EU, Barcelona Tourist Apartments Association, Estate Economics Locations: Barcelona, Spanish, Madrid, what's, Irvine , California, New York City, Cities, Vancouver, Tokyo, London, Amsterdam, Paris, Singapore, Thailand, Irvine

☆ A New Yorker took her first solo trip to Greece at 38. She loved the slower pace of life so much that she moved there.
▼ + stars: | 2024-06-24 | by ( Ella Hopkins | ) www.businessinsider.com time to read: +7 min

She told Business Insider she worked 16 hours a day some days and often worked weekends. Rodriguez told BI they'd been working hard on a new project just before being let go. AdvertisementWith her new business, Rodriguez thought she needed to stay in New York to meet clients in person. She took a solo trip to GreeceRodriguez decided to attend a friend's birthday party in Greece in June 2021. She'd never visited the country before and decided to take a 10-day solo vacation to Greece around the party.

Persons: —, Marissa Rodriguez, Rodriguez, she'd, Chris Burch, Wonder, Sofia Vergara, Renata Black's, Greece Rodriguez, She'd, New York —, couldn't Organizations: Service, New York University, Business, C.Wonder Locations: Puerto Rico, Manhattan, New York, Greece, America, Athens, there's, New York City

☆ Barcelona plans to ban short-term rentals as cities rethink the Airbnb effect
▼ + stars: | 2024-06-24 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +4 min

Read previewBarcelona plans to end short-term rentals after complaints that tourism has priced locals out of the housing market. By 2029, no homes will be allowed to operate as short-term tourist accommodations. AdvertisementGlobal short-term rental restrictionsOther cities are similarly eyeing short-term rental restrictions to manage skyrocketing housing costs in what's been deemed the "Airbnb effect." Cities including Vancouver, Tokyo, London, Amsterdam, and Paris have all placed restrictions on the short-term rental market. Some Southeast Asian countries have banned short-term rentals completely.

"[It's] the first car-free neighborhood built from scratch in the U.S.," Ryan Johnson, CEO of Culdesac tells CNBC Make It. Mickey Todiwala. Mickey Todiwala. Mickey Todiwala. Mickey Todiwala.

Persons: Jada Stratman, Ryan Johnson, They're, Mickey Todiwala, I've, I'm, Stratman, who's Organizations: Culdesac, CNBC Locations: U.S, Tempe , Arizona, Culdesac

☆ Neighbors Fight Affordable Housing, but Need Libraries. Can’t We Make a Deal?
▼ + stars: | 2024-06-21 | by ( Michael Kimmelman | ) www.nytimes.com time to read: +1 min

It’s the second library in town during the past year or so to try something clever and innovative: partnering with a 100 percent affordable housing development. These days, NIMBYs are always fighting affordable housing projects. One obvious solution is the twofer — building housing and a library together — because there’s strength in numbers. Libraries pairing with housing developers can trim construction costs. Developers can leverage city-owned property to finesse both the not-in-my-backyard types and the byzantine economics of affordable development.

Persons: It’s, John Ronan, Brian Lee Locations: Inwood, Manhattan, Chicago, Boston, . New York

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