The new prime minister must eschew pantomime radicalism if she is to succeed. The sceptics have many reasons to be dubious—yet underestimating Liz Truss is a mistake her opponents have already made to their cost.
CNBC Marathon reviews why a cost-of-living crisis is unfolding across America’s housing infrastructure. CNBC explores what that means for apartments in the cities and houses in the suburbs. Inflation data shows that costs for items such as rent and groceries are increasing quickly across the Sun Belt and coastal cities.
Chapters: 00:00 Introduction 00:39 How to make the suburbs more affordable (Published April. 2022) 13:22 How suburban sprawl shapes the U.S. economy (Published Feb. 2022) 26:34 Are major cities still worth it? (Published May 2022)
Now years removed from the darkest days of the pandemic, people are asking: Is a return to the city worth it? Metropolitan regions have sprawled in recent years, raising budget concerns and quality-of-life issues for the people who remain downtown. Meanwhile the absence of commuters is slowing the recovery in leisure and hospitality. About 46% of renters in the U.S. are struggling to make ends meet, according to Harvard University researchers.
Builders say conditions for renters will get worse before they get better. A snarled supply chain, a labor shortage, and rising interest rates are worsening what some call a “throwaway” development pattern. Several real estate industry experts have ideas about how to make housing more attainable. Some of the most popular ideas include mixed-use districts and master-planned communities.
America’s suburbs are sprawling again. Over the 20th century, real estate developers built large tracts of single-family homes outside of major cities. The builders were following mortgage underwriting standards first introduced by the Federal Housing Administration in the 1930s. Over the century, those guidelines created housing market conditions that explicitly shut out many minorities. Experts say it is possible to update these old building codes to create equity while fixing some, but not all of the problems of American suburbia. CNBC Marathon brings together the best of CNBC’s coverage on the U.S. housing crisis and how life in the suburbs impacts city living.
This week’s top stories of the week include: 0:16 This teenager’s invention could change the world of electric cars 02:59 France is paying it’s drivers to get on their bikes 04:22 The psychological phenomenon that is hampering our response to climate change 05:33 Paris’s Riverside Booksellers are thriving once more
The World Economic Forum is the International Organization for Public-Private Cooperation. The Forum engages the foremost political, business, cultural and other leaders of society to shape global, regional and industry agendas. We believe that progress happens by bringing together people from all walks of life who have the drive and the influence to make positive change.
Two states, two very different states of mind. On August 25th California banned the sale of petrol-powered cars from 2035, a move that will reshape the car industry, reduce carbon emissions and strain the state’s electricity grid. On the same day in Texas a “trigger” law banned abortion from the moment of conception, without exceptions for rape or incest. Those who perform abortions face up to 99 years in prison.
World Economic Forum top stories of the week for August 26, 2022 include: 0.15 Google’s Robot has thought itself how to follow your command 02.12 Video Voyage into Deep Space 03:22 Ants do a better job at protecting crops than pesticides 04:52 Drought has revealed several long lost relics to the world
A selection of three essential articles read aloud from the latest issue of The Economist. This week, will Donald Trump run again? Also, the future of the Visa-Mastercard payments duopoly (9:35) and, what kind of prime minister will Britain get? (21:45).
Lebanon is now going through the worst economic crisis in its history. 80 per cent of the population lives below the poverty line. In one year, food prices have jumped 500 per cent due to galloping inflation. Lebanon was long regarded as the Switzerland of the Middle East.
But those days are gone. A series of crises have plunged the nation into the abyss. And its people are suffering. For Riad, who runs a grocery store in the suburbs of Beirut, business has become hellish. Every morning, calculator in hand, he changes the labels of his products according to the day’s exchange rate. An operation made all the more complex by the fact that his store is plunged into darkness, due to a lack of electricity.
The Lebanese government no longer provides more than two hours of electricity per day in the country. It is impossible for the population to heat, light or use their refrigerators. Taking advantage of the situation, a network of private generators has emerged. The Lebanese pound, the local currency, has lost 90 per cent of its value.
The only people unaffected are those paid in dollars. The greenback, which can be exchanged for a small fortune against the local currency, has created a new privileged social class in the country. A salesman in an international pharmaceutical company, Joseph lives like a king in a ruined Lebanon. Thanks to his new purchasing power, he repaid his mortgage in two months, instead of… twenty years!
In a bankrupt state, plagued by corruption, six out of ten Lebanese now dream of leaving the country. In Tripoli, in northern Lebanon, Mohammed and his son set out for Germany by sea. Even though the trip was cut short off the Turkish coast, the young father is still ready to take all possible risks to reach the European Eldorado.
Boomers Daily 