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☆ I dodged a 15% rent increase because of a new NYC housing protection law. Here's how to know if it could save you money.
▼ + stars: | 2024-06-01 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +9 min

They said my building was covered under the new Good Cause Eviction law, and my rent increase would instead be 8%. AdvertisementWhat is Good Cause Eviction? Good Cause also has what's called the reasonable rent increase measure: Buildings covered under Good Cause have limits on how much landlords can raise rent. I was under the impression that this building falls under the good cause eviction umbrella. Will Good Cause Eviction change or impact your life?

Persons: Weaver, —, Ellen Davidson, Davidson, Allia Mohamed, it's, Mohamed, that's Organizations: Service, Business, New, New York, Housing Justice, —, Legal Aid Society Locations: New York City, Central Park, New, New York, Bronx, Brooklyn

☆ Operator of San Francisco's $700-a-month sleeping pods is beefing with the city over planning approval
▼ + stars: | 2024-05-30 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +4 min

Read previewThe company behind San Francisco's $700-a-month tiny sleeping "pods" has accused city officials of worsening the city's homelessness problem as it battles a lengthy investigation. James Stallworth, CEO of Brownstone Shared Housing, told Business Insider that San Francisco Planning Department staff had an "adversarial attitude toward housing." Brownstone says it is waiting for city officials to approve a change-of-use request so it can continue operating its 4-foot-high sleeping pods in Mint Plaza. City officials told BI that Brownstone still needed to complete important safety upgrades to comply with the law. AdvertisementThe pods made headlines late last year after proving a hit with some tech workers seeking affordable accommodation in central San Francisco.

Persons: —, James Stallworth, Daniel Sider, Stallworth, Sider, Christian Lewis Organizations: Service, Francisco's, San Francisco Planning Department, Business, Tech Locations: San Francisco, Francisco

☆ The 15 most renter-friendly US cities, where tenants save $1,200 or more a month compared to homeowners, according to SmartAsset
▼ + stars: | 2024-05-30 | by ( William Edwards | ) www.businessinsider.com time to read: +1 min

Renting is cheaper than owning in many cities due to high prices and mortgage rates. SmartAsset ranked 343 cities on monthly cost differences between renting and owning a home. In cities like Los Angeles and New York, renters can save thousands per month vs. homeowners. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . That means in many places, it's cheaper per month to rent versus own.

Persons: — Organizations: Service, Business Locations: Los Angeles and New York

☆ Photos Show Strength of Asian American Activism Throughout US History
▼ + stars: | 2024-05-30 | by ( Momo Takahashi | ) www.businessinsider.com time to read: +12 min

The term "Asian American" was first coined in 1968 amid the rising voices of the Third World Liberation Front student movements in California. With tensions from protests against the Vietnam War and calls for universities to invest in ethnic studies programs, the Asian American identity was born out of advocacy for multiethnic unity among the Asian diaspora. Historical photographs showcase the history of Asian American resistance movements from the 1960s to the 1980s, demonstrating the strength and resilience of the Asian American community among tenants, students, and laborers. For the next five years, Filipino and Mexican American workers continued to strike for economic justice for all farm workers. AdvertisementThe same year, Yuji Ichioka and Emma Gee, both graduate students and key organizers of the Asian American Political Alliance, coined the term "Asian American."

Persons: Delano, Cesar Chevez's Huelga, Julio Hernandez, Larry Itliong, Cesar Chavez, Gerald French, Chavez, Ted Streshinsky, Slava J, Garth Eliassen, Yuji Ichioka, Emma Gee, Dave Randolph, Sheriff Richard Hongisto, Terry Schmitt, Emil de Guzman, May Chen, Walter Leporati, Chol Soo Lee, Yip Yee Tak, Lee, John O'Hara, Chol, Lee's, Jerry Telfer, Vincent Chin, Vincent, Lily Chin, Detroit . Chin, Ronald Ebens, Michael Nitz, Ebens, Helen Zia, Victor Yang, Chin, Chin's Organizations: Liberation, Business, American, Agricultural Labor, Committee, Delano, Getty, Labor, National Farm Workers Association, United Farm Workers, Migratory Labor, National Farm Workers, University of California, University of California Regents, Black Student Union, UC Berkeley, Asian American Political Alliance, San Francisco State University, San Francisco Chronicle, San Francisco, . Police, Chinatown Community Development Center, Manilatown Heritage Foundation, Images Garment Worker, Ladies Garment Workers Union, International Ladies Garment Workers Union, San, Korean American Journalists Association, Asian, Lee Defense, Hall of Justice, The, American Citizens, Justice, Department of Justice, FBI Locations: California, Vietnam, Asia, San Francisco, Mexican, Bakersfield , California, Spanish, Washington, Delano, Sacramento, American, Berkeley, Berkeley , California, Africa, America, San, Los Angeles, Kearny, New York, Chinatown, Columbus, councilmen, San Quentin, Detroit ., Detroit

☆ A millennial who had a mini-retirement at 38 shares her strategies for achieving financial independence — and why she wants to return to the workforce
▼ + stars: | 2024-05-29 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +8 min

When her daughter enrolls in kindergarten soon, Horrocks said she will return to the workforce but not to the high-stress position she held. Instead, given the luxury to pursue her passions, she's considering financial coaching or planning as options. "I think work is not the goal. She no longer needs to strive for the highest-paying or most prestigious position, and she's considered becoming a financial coach to help people achieve their financial goals. "Also, a lot of financial advisors don't have their client's best interests at heart and aren't wealthy themselves."

Persons: Sabina Horrocks, Horrocks, isn't hustles, Nobody's, We've, They've, we've, she's Organizations: Service, Business, Advisors Locations: Chicago

☆ How to Reverse America's Urban Doom Loop: Use Abandoned Steam Pipes
▼ + stars: | 2024-05-28 | by ( Adam Rogers | ) www.businessinsider.com time to read: +9 min

Instead, it's drawing a feed of blistering, high-pressure, vaporized water from a century-old loop of steam pipes that runs beneath the city's streets. Like dozens of cities, New York has a loop of steam pipes under its streets that could help reverse the urban doom loop. Lindsey Nicholson/UCG/Universal Images Group via Getty ImagesIn July, Vicinity is installing what will be the nation's first zero-carbon urban steam loop. AdvertisementThe most convincing evidence that steam loops make economic sense comes from who's getting into the district-energy game. Meaning: Can we use steam loops to fix the urban doom loop before the climate doom loop dooms us all?

Persons: I've, Nobody, Francisco, Kevin Hagerty, Lindsey Nicholson, Blake Ellis, Burns, McDonnell, Tim Danz, it's, Danz, Hagerty, Decarbonizing, COVID, Costa Samaras, They'll, Adam Rogers Organizations: California, Vicinity Energy, Getty, Cal, Antin Infrastructure Partners, KKR, Scott Institute for Energy, Innovation, Carnegie Mellon, Business Locations: Francisco, California, New York City, Boston, Washington, New York, England, Chicago, Miami, San Diego, Portland, Milwaukee

☆ A homeless Iowa mom of 2 is struggling to find a landlord who will accept her housing voucher before it expires. The state is making it harder by allowing landlords to discriminate against her.
▼ + stars: | 2024-05-27 | by ( Eliza Relman | ) www.businessinsider.com time to read: +7 min

That deadline — July 11 — is imposed by the state housing authority and applies to Quinn's Section 8 housing choice voucher, which she's had for about 12 years. Iowa lets landlords refuse voucher holdersQuinn says she's contacted close to 30 landlords since March. Many have simply told her they don't accept housing vouchers. In 2021, the state passed a law barring cities and counties from protecting voucher holders from overt discrimination by landlords. A crucial but flawed benefitThe federal Housing Choice Voucher Program is the biggest — and most effective — American housing assistance program.

Persons: —, Stephanie Quinn, Quinn, she's, Charcot, Marie, Quinn doesn't, she'll, I'm, they've, Farley, I've Organizations: Service, Business, Facebook, Craigslist, Nationwide Locations: Farley , Iowa, Iowa, Washington, DC, Dubuque

☆ How I negotiated to lower my monthly rent in a tight housing market
▼ + stars: | 2024-05-25 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +4 min

You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. Conventional wisdom says you're more likely to be able to negotiate lower rent if there are plenty of local vacancies or when your rental is going for an above-market rate. As rental unit owners ourselves, we know how challenging it an be to find reliable tenants who will care for your property the way you would yourself. We'd like to continue being those renants for you, and respectfully request that you consider a renewable 6-month lease term at the current rate of $3,550 per month, or a 1-year lease term at a rate of $3,450. AdvertisementBe creative with your asks — and flexible with your expectationsPart of our initial ask included a variation on the lease term (6 months instead of a year), showing our landlords we were open to options other than a standard 1-year lease.

Persons: Zillow, it'd, we'll, We've Organizations: Service Locations: Santa Barbara , California, Airbnb

☆ 'Zoomtown' slowdown: 18 cities where rents have plummeted from their pandemic peak
▼ + stars: | 2024-05-23 | by ( James Faris | ) www.businessinsider.com time to read: +4 min

That figure was 0.7%, or $12, less than in 2023 but is still 22.5% higher than the pre-pandemic rent rate of $1,407 in April 2019. Advertisement18 cities where rents have fallenRenting is also much more affordable than it was during the pandemic peak. The typical Austin apartment in April went for $1,494, which is down 11.5% — or nearly $200 — from the peak rent of $1,689 in September 2022. Below are the 18 US cities, many of which became Zoomtowns during the pandemic, where apartment prices are down at least 5% from their post-2019 peak. Along with each is its median rent in April, year-over-year rent change, peak rent, and change from that peak rent figure.

Persons: —, Realtor.com, Jiayi Xu, Xu, Austin Organizations: Service, Business, Star Locations: Austin

☆ America's Surge of Dumb Neighborhood Names, Real-Estate Rebrands
▼ + stars: | 2024-05-22 | by ( James Rodriguez | ) www.businessinsider.com time to read: +13 min

Neighborhood names are also shorthand for your rent or mortgage payments. In 2017, real-estate brokers in the historically Black New York neighborhood of Harlem sparked backlash when they tried to rebrand its south end as SoHa. At their best, new neighborhood names bring people together over a shared sense of pride in their little corner of the world. Along the way, these neighborhood names have veered into parody territory. I'm not saying that neighborhood names should be set in stone — in fact, I think it's natural for them to evolve alongside their populations.

Persons: you've, MoRA, Nashville's, they're, Let's, Gill Holland, Holland, Nestor Davidson, David Fagundes, Grant McKenzie, McKenzie, Hakeem Jeffries, Jeffries, Davidson, They're, Bob Dylan's, Marshall, Lily, I'm, Willy, Dirtbag, Little Italy — Organizations: Market, McGill University, University of Maryland, Houston, Financial, Tribeca, McGill, Google, Democratic, New York State Assembly, New York Times, Apple, North Arts District, Congress, Little Locations: Denver, Charlotte , North Carolina, LoSo, Boston, Louisville , Kentucky, NuLu, Austin, America, New York City, Louisville, Holland, North Carolina, Greenwich, Louisville's, Phoenix, Holland's, York, New York, Manhattan, Side, Chelsea, Maryland, Harlem, SoCo, Soho, Dowisetrepla, Charlotte, East Williamsburg

☆ New York tech workers make $135,000 on average, but can't afford the vast majority of apartments on the market
▼ + stars: | 2024-05-21 | by ( Eliza Relman | Madison Hoff | ) www.businessinsider.com time to read: +6 min

Things are so bad that even tech workers, who make some of the highest salaries of any profession, are feeling the crunch. Entry-level tech workers made an average of $75,262 in 2023, and could only afford 2.1% of studio and one-bedroom rental apartments in the city, StreetEasy found. "If these tech employees can't afford housing, then who can?" But even as New York City has created 800,000 new jobs in the last 10 years, it's only built 200,000 new homes. The average tech worker makes 52% more per year than the average worker in New York City, the StreetEasy report noted.

Persons: StreetEasy, Julie Samuels, Samuels, —, Kenny Lee, Eric Adams, Kathy Hochul, Hochul, Adams Organizations: Service, Apple, Business, Tech, New York City, New York State Department of Labor, York City, New York, Yorkers Locations: New York, Manhattan, York City, San Francisco, New York City, StreetEasy, Yorker, York

☆ An Ohio power company wants data centers to pay their fair share of electricity use as demand surges amid the AI boom
▼ + stars: | 2024-05-20 | by ( Ellen Thomas | ) www.businessinsider.com time to read: +5 min

In a filing on Monday, AEP Ohio asked the state's public utilities commission to approve its proposals to create a new customer class and a set of tariffs specifically for data centers. On the other hand, data centers have created roughly "less than one" full time job per megawatt of energy consumed, the filing said. AEP Ohio's new service queue has been paused since March while the company assesses its response to the 30,000 megawatts of requests from data centers. "We believe some of that queue is speculative, but we want the real customers and counterparties to commit to Ohio," Reitter said. AdvertisementSome states, including Ohio, have a statute that allows power companies and data centers to seek approval for agreements that give the data centers heavily discounted electricity.

Persons: —, Marc Reitter, Reitter, counterparties Organizations: Service, AEP Ohio, Business, American Electric, AEP, —, AEP Ohio's, ratepayers Locations: Ohio, Columbus , Ohio, New York

☆ Top Wall Street analysts like these 3 dividend stocks for high yields
▼ + stars: | 2024-05-19 | by ( Tipranks.Com Staff | ) www.cnbc.com time to read: +6 min

Bearing that in mind, here are three attractive dividend stocks, according to Wall Street's top pros on TipRanks, a platform that ranks analysts based on their past performance. On May 1, the company announced its first-quarter results and declared a quarterly dividend of 48 cents per share, payable on June 28. Following the results, RBC Capital analyst Kenneth Lee reaffirmed a buy rating on ARCC stock with a price target of $22. The company recently announced its first-quarter results and declared a quarterly distribution of $0.405 per unit. Overall, based on the annualized dividend amount of $3.08 per share, the stock's dividend yield stands at 5.6%.

Persons: Wall, Capital, Kenneth Lee, Lee, TipRanks, Devin Dodge, Dodge, Income's, Brad Heffern, Heffern Organizations: New York Stock Exchange, Federal Reserve, Ares, RBC Capital, Ares Credit, Brookfield Infrastructure Partners, Brookfield Infrastructure, BMO Capital, Triton, Dodge, Brookfield Locations: New York City, Asia, Pacific, North America, Europe, U.S, TipRanks

☆ Renting is still way cheaper than buying in most major US cities — the best news for landlords since the end of pandemic discounts
▼ + stars: | 2024-05-19 | by ( James Faris | ) www.businessinsider.com time to read: +1 min

Property values tend to rise over time, but they've grown especially fast in recent years. Higher home prices and elevated mortgage rates make renting cheaper in top US cities. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . In recent years, tenants have seen firsthand that the same is true of those who own houses — or apartment complexes.

Persons: — Organizations: Service, National Association of Realtors

☆ Low-income Americans wait years to get housing vouchers that are often impossible to use. Fixing the system could mean more funding and less red tape.
▼ + stars: | 2024-05-18 | by ( Eliza Relman | ) www.businessinsider.com time to read: +9 min

The federal Housing Choice Voucher Program, also known as Section 8, is also the biggest, aiding about 5 million people in 2.3 million households. While it's illegal in some places to discriminate against voucher holders, the practice isn't outlawed everywhere. Fully funding housing vouchers would mean many more housing-insecure and unhoused people would get help. Related storiesIn its budget for fiscal year 2025, the Biden administration requested a $2.5 billion increase for voucher funding over 2023 levels. Researchers at the Department of Housing and Urban Development have proposed piloting a direct cash transfer program for rent as an alternative to housing vouchers.

Persons: Will Fischer, Biden, Jenny Schuetz, isn't, Lindsey Nicholson, Michael Stegman, Stegman, Tara Radosevich, Fischer, Schuetz Organizations: Service, Business, of Housing, Urban Development, Budget, Harvard, The New York Times, Republicans, Brookings Institute, Getty, Urban Institute, HUD, Washington State, Department of Housing Locations: —, Los Angeles, Fort Worth, Philadelphia, Iowa, Long Island City, Queens, Oregon

☆ Longevity hacks are the latest luxury apartment perk
▼ + stars: | 2024-05-18 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +1 min

Luxury buildings in Los Angeles, Miami, and New York are now offering IV drips to tenants. AdvertisementLuxury residential buildings are now equipped with more than just hi-fi fitness centers, outdoor movie theaters, and dog spas — they're offering longevity hacks, too. A growing number of high-end buildings in Los Angeles, Miami, and New York are offering IV drips to tenants, according to The New York Times. The luxury condominium unit One Manhattan Square offers five different IV drip formulas that range from $300 to $350. The Park — a luxury apartment building in Los Angeles where units can go for as much as $38,000 a month — has been offering IV treatments since 2023.

Persons: — Organizations: Service, The New York Times, Manhattan Square, Business Locations: Los Angeles, Miami, New York

☆ Opinion: What I noticed immediately about King Charles’ portrait
▼ + stars: | 2024-05-18 | by ( Opinion Holly Thomas | ) edition.cnn.com time to read: +6 min

CNN —King Charles III’s first official portrait was unveiled this week, and I’m sure his majesty would agree it’s a stirring sight. Unfortunately for Yeo, Charles and the butterfly, nothing about the portrait has garnered nearly so much comment as its dominant color. Besides these ceremonial outings, Charles has recently been less prominent in British public life than ever, particularly following the announcement in February of his cancer diagnosis. Charles’ private wealth dwarfs that of any other member of his family. Join us on Twitter and FacebookIn the last 10 years alone, that system has reportedly made King Charles more than £60 million ($76 million) richer.

Persons: Holly Thomas, Katie Couric, CNN — King Charles III’s, I’m, Jonathan Yeo, Charles, Holly Thomas Holly Thomas Yeo, Charles ’, Yeo, ” Yeo, King, “, He’s, I’ve, ”, Queen Elizabeth II’s, Rishi Sunak’s, Tina Brown, Prince of Wales, Buckingham, Lancaster, King Charles, Queen Camilla, you’ve Organizations: Katie Couric Media, CNN, Royal, Guardian, Twitter, Facebook Locations: London, Iraq, Rwanda, Duchy, Cornwall, Lancaster

☆ An early retiree shares the advice he received in his early 20s that helped him retire at age 48 — and how he invested his money to build a seven-figure portfolio
▼ + stars: | 2024-05-16 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +7 min

It aligned with the life-changing money advice he received from a boss in his early 20s. The stock market: from tech stocks to low-cost index fundsCooper's investment strategy has evolved over the years. AdvertisementTo lower his risk, "I am in the process of transitioning my portfolio to mostly low-cost index funds, which are very popular among the FI community." "They're all paid off and bring in about $65,000 a year in rent," he said, adding that they played an important role in his early retirement. Advertisement"I think the easier route is to invest in low-cost index funds," he said, noting that the playbook is much simpler.

Persons: —, Eric Cooper, I'd, Cooper, Cooper's, Roth Organizations: Service, Business, Roth IRA, FI Locations: Louisville, Egypt

☆ Live Updates: Inflation Expected to Cool Slightly
▼ + stars: | 2024-05-15 | by ( Ben Casselman | ) www.nytimes.com time to read: +9 min

Housing Inflation Remains Stubbornly High Economists had expected two measures of rental inflation to fade in 2023 and 2024, but that process is taking time to play out. There are two main measures of inflation in America, the Consumer Price Index and the Personal Consumption Expenditures index. Consumer Price Index Inflation Remains Hotter The Consumer Price Index is climbing faster than the Personal Consumption Expenditures index, in large part because it weights housing more heavily. With housing, Consumer Price Index inflation totaled 3.5 percent in March. But the convergence between new and existing rent inflation is taking a lot longer than expected.

Persons: There’s, “ It’s, ”, Mark Zandi, Biden, Zandi, grousing, “, O.E.R, We’re, would’ve, Mark Franceski, I’ve, Ernie Tedeschi, Tedeschi Organizations: New York Times, Federal Reserve, Index, Housing, Zelman, Associates, White House Council, Economic Advisers Locations: America, bam, Europe

☆ Renters need to make 36% more than in pre-COVID years to afford today's average rent, Zillow says
▼ + stars: | 2024-05-13 | by ( Filip De Mott | ) www.businessinsider.com time to read: +1 min

US average rent rose to just under $2,000 per month in April, Zillow reports. Tenants now need to earn 36% more than they did in 2019 to afford a typical rent. While rent growth continues, multifamily construction has softened its advance. Since the pandemic's start, rent has increased 31.4%, though income has only grown 23% through February. This story is available exclusively to Business Insider subscribers.

Persons: Zillow, —, haven't Organizations: Service, Business

☆ 15 cities with plenty of rentals and high enough wages to afford them
▼ + stars: | 2024-05-12 | by ( Juliana Kaplan | Eliza Relman | ) www.businessinsider.com time to read: +3 min

A new Zillow and StreetEasy analysis finds that rental price growth is far outpacing wage growth in most big cities — and New Yorkers are particularly screwed. In New York City, rents increased seven times as fast as wages from 2022 to 2023. Similarly, renters in Boston, Cincinnati, and Buffalo are seeing their wage growth dwarfed by their rent increases. But it's not all bad news for prospective and current tenants: There are still a handful of cities where wage growth has outpaced rent increases. While wages rose by 5.5% between 2022 and 2023, rents increased by just 0.8%, the Zillow/StreetEasy report found.

Persons: it's, Tesla, Austin, that's, there's Organizations: Service, Business, Apple, The Atlantic Locations: New York City, Boston , Cincinnati, Buffalo, Austin, Portland , Oregon, Salt Lake City, San Jose, Houston, Salt Lake City , Minneapolis, Riverside , California, Los Angeles, San Francisco, San Diego, California, Southern, Raleigh, Charlotte, North Carolina, Miami, Georgia, Tennessee

☆ 'The deals are going to come': A real-estate investor with over 40 years of experience shares the 2 financing strategies he used to build up his portfolio — and the best way new investors can start sc
▼ + stars: | 2024-05-12 | by ( William Edwards | ) www.businessinsider.com time to read: +5 min

Preparation and being in the right place at the right time is how he said he's built up his real-estate portfolio in Erie County, Pennsylvania, over the last four decades. Throughout his real-estate investing journey, many of Miller's deals came about through seller financing and being at the right place at the right time. Another financing strategy Miller employed to build his portfolio was using a hard-money lender. "Hard-money lending is probably something that's going to help you grow your portfolio faster than any other thing," Miller said. "Most of these programs range anywhere from a hundred percent financing all the way up to 105% financing, depending on the state."

Persons: Joel Miller, he's, Miller, Miller —, —, Miller's, Jeff Welgan, Freddie Mac's, Welgan Organizations: Business, Facebook, Housing Act Locations: Erie County , Pennsylvania, New

☆ Want to invest in real estate without dealing with tenants or leaky roofs? Buy these 13 stocks with major rebound potential instead, a strategy chief says.
▼ + stars: | 2024-05-10 | by ( James Faris | ) www.businessinsider.com time to read: +4 min

However, there's an easy way to invest in real estate without breaking the bank or even leaving the couch: buying real-estate stocks, which BMO Capital Markets finds increasingly attractive. But, contrary to what many investors believe, higher rates don't always hurt real-estate stocks, Belski wrote. AdvertisementThe market's misleading narrative about real-estate stocks has made the group remarkably cheap relative to its solid fundamentals, in Belski's view. "The severity of underperformance appears mismatched with the fundamental underpinnings of the group," Belski wrote. 13 real-estate stocks set to outperformInvestors looking to diversify their portfolios should consider 13 stocks in the real-estate sector with outperform ratings from BMO Capital Markets.

Persons: —, Brian Belski, Belski, it's Organizations: Service, Business, BMO Capital Markets, BMO, doesn't Locations: Montreal

☆ Look inside the last lofts of New York City's artists, shielded 40 years ago from the city's soaring rents
▼ + stars: | 2024-05-04 | by ( Dan Latu | ) www.businessinsider.com time to read: +1 min

In a new book, photographer Joshua Charow documents the rich history of New York City's artist lofts. Protected by the Loft Law, a generation of artists were able to preserve their live-work spaces. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. One factory in Brooklyn's South Williamsburg held his fascination as he discovered the raw, eclectic live-work spaces of artist's lofts. He soon discovered he was "ten years too late" — all the lofts were taken by tenants living under New York City's historic Loft Law, protections for loft tenants passed in the early 1980s.

Persons: Joshua Charow, —, Charow Organizations: New York, Loft Law, Service, Law, Business Locations: New, New York City, Brooklyn's South Williamsburg, New York

☆ AI boom in Silicon Valley is going to worsen the housing problem, says CEO of billionaire-backed company trying to build a new city near San Francisco
▼ + stars: | 2024-05-03 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +4 min

Jan Sramek, CEO of California Forever, wants to build a new city in Solano County, California. The recent "AI boom" will only make the housing crisis worse, Sramek told Kara Swisher. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Previously published information from California Forever revealed that the city will be about 18,600 acres with a capacity to welcome 400,000 residents. A California Forever spokesperson didn't address the question in an emailed response to Business Insider.

Persons: Jan Sramek, Sramek, Kara Swisher, —, Goldman Sachs, didn't, The Lever Organizations: Service, Silicon, California Forever, Business, International Monetary Fund, IMF, Research Locations: California, Solano County , California, Northern California, Solano County, San Francisco, Golden State, Bay, Palo Alto

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