In This Article Key Takeaways Local Law 18 in New York City effectively bans short-term rentals in an effort to improve housing affordability.Through it's enforcement, however, it's hard to pinpoint if the ban has moved the needle at all.Since the law went into effect, though, hotel prices have skyrocketed in the city, leading some to
In This Article Key Takeaways An independent audit in April of HomeRise, a nonprofit housing developer, revealed questionable spending practices with over $200 million in government grants and loans.The audit raised concerns over other nonprofit housing groups, like the Tenant and Owners Development Corporation, which has not developed a property in over 20 years despite
In This Article Key Takeaways California Assembly Bill 1033 makes it possible for homeowners to sell ADUs as separate homes, specifically as condos.San Jose is the first city in the state to embrace the law, with the official start date set for July.Permits for ADUs increased 15,000% from 2016-2022. However, barriers remain when it comes
In This Article A standard economics textbook depicts humans as rational beings who always employ careful analysis to make the most advantageous decisions based on the costs and benefits of the available options. Since the 1960s, behavioral economists have questioned whether assumptions about human behavior in economic models are accurate, and research has shown that
In This Article Key Takeaways A record-high 27,500 build-to-rent homes were completed in 2023, almost triple the number of completions from two years prior. This year, the number of completions is set to nearly double.Institutional investors have poured large chunks of cash into build-to-rent homes. Blackstone, for example, has invested $9.5 billion into development.Most major
In This Article Key Takeaways According to a Redfin report, San Antonio is the only major metropolitan area where housing prices are declining right now.Last month, prices were up in all of the 50 most populous metros.New listings are up nationally, but there is still not enough overall inventory to cause prices to drop. In
In This Article A group of former officials and other allies of Former President Donald Trump has drafted a document outlining suggested policy changes that would impact the authority and independence of the Federal Reserve. While it’s not clear whether Trump was involved, some say he approved of the effort. Trump has expressed to his advisors that he prefers a low interest rate
In This Article A record 300,000 migrants entered the U.S. through the southern border in December. Rather than trying to sneak past border agents, many surrendered to apply for asylum. Overwhelmed immigration courts take years to process these claims, and migrants are protected from deportation in the meantime. They hope to stay, work, and build a life here. But achieving
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