housing

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A Popular Travel Destination Is Outlawing Tourist Rentals

All 10K tourist apartments in Barcelona to shut down by 2028, mayor says

(Newser) - There are 10,101 legal short-term rental accommodations in Barcelona, Spain, one of the most visited cities in the world. But in just four short years, there will be zero. That's according to Barcelona Mayor Jaume Collboni, who announced the "unexpectedly drastic move" to combat the city's...

Estimate for Rebuilding Gaza Is Staggering

Best case is $40 billion over 16 years

(Newser) - Israel's bombardment of Gaza over the past seven months has left many high-rise concrete buildings in rubble, creating what a United Nations official called a "moonscape" of destruction. Palestinian statistics show that about 80,000 homes have been destroyed since the strikes began after Hamas fighters attacked southern...

It's Cheaper to Rent Than Buy in Every Big US Metro Area

Realtor.com takes note of the metric in the 50 largest metropolitan areas

(Newser) - It's a housing market milestone: Renting now beats buying in all 50 of the biggest metro areas in the US, a new report by Realtor.com says. Quartz helps break down the findings:
  • Last year, residents in 45 of the biggest 50 metro areas fared better through renting, but
...

New Realtors' Settlement 'Will Blow Up the Market'

National Association of Realtors agrees to $418M deal that will slash commissions to settle suits

(Newser) - The National Association of Realtors has signed off on a huge deal that some say "will blow up" the housing market. The New York Times has seen a copy of the $418 million settlement that would get rid of the standard 5% or 6% commission fee for real estate...

It's Hard to Find a (Cheap) Home on the Range

At Yellowstone, a $40M gift looks to bring affordable housing to the park for staff

(Newser) - When Caroline Gold was accepted for her dream job working at Yellowstone National Park in 2021, she immediately informed her employer in Texas she was leaving. Then she started looking for housing in rural Montana near her new place of work. That's when she wondered, "Am I going...

A Troubling Amount of US Renters Are in Deep

More and more US tenants spend 30% or more of their income on housing

(Newser) - The often-recommended rule of thumb when it comes to housing is to not hand over more than 30% of your gross income to a landlord or mortgage company and the accompanying utilities. In the United States, more renters than ever are surpassing that limit, further burdening a middle class beset...

The Era of the Smaller Home Is Upon Us

Square footage is dropping, as are accompanying home prices, as homebuilders try to attract buyers

(Newser) - With the cost of housing so high these days, it's no wonder that many have given up on the idea of homeownership, at least for the time being. Now, homebuilders appear to have hit on a solution of sorts, at least for those willing to embrace minimalism: erecting smaller...

A Win for Couple Who Alleged Racial Bias in Home Valuation

Paul Austin, Tenisha Tate-Austin settle lawsuit with appraisal company, hope to bring change

(Newser) - A Black couple who said the value of their California home increased by almost $500,000 when they had a white friend stand in as the owner have settled a lawsuit with the appraisal company. Paul Austin and Tenisha Tate-Austin of the San Francisco suburb of Marin City will receive...

If You Live Alone, Your 'Freedom Comes With a Cost'

Renting a home solo in a more expensive US city could cost you thousands more in 'singles tax'

(Newser) - There are definitely benefits to living by yourself: no messy roommates, privacy, staying up as late as you want without worrying about keeping anyone else up. But every pro has its con, and in this case, a big drawback if you're a solo renter in the US is what...

Congressman-Elect, 25, Denied DC Apartment

Maxwell Frost is couch-surfing as a result of bad credit

(Newser) - Maxwell Frost will be the voice of the Generation Z when the 25-year-old congressman-elect takes his seat in the House in January as the youngest member of Congress—and he's already bringing attention to an issue affecting young people: financial barriers to adequate housing. Indeed, the Florida Democrat says...

For Buyers, Mortgage Rates Hit Unwelcome Milestone

Average 30-year rate is now 7% for the first time in 2 decades

(Newser) - Average long-term US mortgage rates topped 7% for the first time in more than two decades this week, a direct result of the Federal Reserve's aggressive rate hikes intended to tame inflation not seen in some 40 years, per the AP . Mortgage buyer Freddie Mac reported on Thursday that...

New Real Estate Wrinkle: Reluctant Sellers

Many have a low mortgage rate now, so why sell and possibly double it on a new place?

(Newser) - The housing market is a complex place at the moment, with the Fed's aggressive rate hikes sending mortgage rates north of 6% for the first time in nearly 15 years. Much of the resulting coverage has focused on the buyers' view of things—how those higher rates add hundreds...

Here Are the Most, Least Affordable Cities in America

San Diego pushes San Francisco out as the most expensive market

(Newser) - Move over, San Francisco—you can no longer claim the most expensive housing market in the nation. The San Francisco Chronicle reports the city has been "dethroned," by one a little further south, according to a recent report from real estate firm OJO Labs . The new most unaffordable...

Developments to Provide a Disney Lifestyle for Fans

First project will be nearly 2K units in Rancho Mirage

(Newser) - The Walt Disney Co. is getting back into developing housing communitites, giving fans a chance to "be part of Disney all of the time," an executive said Wednesday. The first project, Cotino, will be in Rancho Mirage, California, and include about 1,900 housing units, USA Today reports....

Yang Complained About His Digs. New Yorkers Hit Back

Potential NYC mayoral candidate griped of having to work, deal with 2 kids in small space

(Newser) - As buzz grows around Andrew Yang's possible run for mayor of New York City, he's also making headlines for a different story. The 45-year-old former presidential candidate, who's a dad to two young children, has a Manhattan apartment, but due to the pandemic, he's been living...

Tenants: We Were Duped Into Video for the RNC

'I am not a Trump supporter,' says one of them

(Newser) - Those New York City housing tenants who appeared during the Republican National Convention? They're back in the news and crying foul: Three of the four say they were never told the interviews would be used during the RNC, the New York Times reports. "I am not a Trump...

Trump Unloads on Twitter About Portland and Housing

The president says 'there would be no Portland' if not for federal officers

(Newser) - President Trump went "on a very aggressive Twitter streak this afternoon" and offered his take on federal agents in Portland—who may or may not be leaving the violence-wracked city, the Guardian reports. With Oregon Gov. Kate Brown saying she's reached a deal with the White House to...

A 'Staggering' Number Tied to the Virus

Data on 13.4M apartment rentals shows 31% of tenants hadn't paid as of Sunday

(Newser) - A lot of Americans failed to pay rent this month. As of Sunday, nearly a third of US apartment renters hadn't paid any amount of their rent, the Wall Street Journal reports, citing data from 13.4 million rental apartments, excluding single-family homes and subsidized affordable housing. Just 69%...

Kim Kardashian Pays Ex-Con's Rent for Years

Matthew Charles was convicted of a non-violent drug offense

(Newser) - With Kim Kardashian West pledging to cover five years of rent, one of the first inmates released after federal sentencing reforms says he has finally found a new home, the AP reports. In a Facebook post Friday, Matthew Charles thanked Kardashian West and others for helping to overcome what he...

Microsoft Puts Its Money Where Seattle's Housing Crisis Is

$500M to go to affordable housing, homeless services within 3 years

(Newser) - Microsoft is looking to ensure a roof over employees' heads, putting up $500 million to assist with affordable housing in the Seattle area. The funds will help create homes for Microsoft's cafeteria workers and shuttle drivers, as well as other middle- and low-income residents, reports the New York Times...

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