Tag Archives: Cities

Urban Living: Are U.S. Big Cities Still Worth It?

A cost-of-living crisis is unfolding in U.S. major cities. Inflation data shows that costs for items such as rent and groceries are increasing quickly across the Sun Belt and coastal superstar cities. 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. Many renters believe that a cost-of-living crisis is brewing in America’s major cities.

New York City is showing up as a hotspot of rent inflation. The average rent for 1-bedroom apartments in Manhattan rose to $3,995 a month in May 2022 — a 41% increase from one year ago, according to Zumper. Sudden, double-digit rent spikes are hitting other hubs, including Chicago, Los Angeles, and Austin, Texas. Zumper data shows that growth is particularly strong in Sun Belt cities such as Miami, where rents have risen to $2,700 a month in May 2022, a 64% increase from a year prior. During the pandemic, workers left the largest U.S. cities.

Two years in, renters have returned but many commuters haven’t as companies negotiate the particulars of a return to the office. Public officials are concerned about lagging transit ridership in cities such as New York. Ed Glaeser, an economist at Harvard University, says cities are becoming more important — not less — in the age of remote work. “When you Zoom to work, you miss the opportunity to watch the people who are older, to watch what they’ve done and to learn from them,” he told CNBC in an interview.

But for renters, a return to increasingly expensive cities might seem like a raw deal, especially if they can do their jobs from home. Researchers say remote work limits firms’ ability to train new workers. Data produced by Microsoft’s workforce suggests that it is more difficult to share in-depth information remotely, which can produce silos within companies’ rank and file.

“A lot of these tech companies, they’re saying you can work remotely,” said Andra Ghent, a professor of finance at the University of Utah. “But, you know, in many cases, they’re also saying, like, we’re not going to pay you quite the same amount.” Many renters believe that a cost-of-living crisis is brewing in America’s major cities. New York City is showing up as a hotspot of rent inflation. The average rent for 1-bedroom apartments in Manhattan rose to $3,995 a month in May 2022 — a 41% increase from one year ago, according to Zumper.

Sudden, double-digit rent spikes are hitting other hubs, including Chicago, Los Angeles, and Austin, Texas. Zumper data shows that growth is particularly strong in Sun Belt cities such as Miami, where rents have risen to $2,700 a month in May 2022, a 64% increase from a year prior. During the pandemic, workers left the largest U.S. cities. Two years in, renters have returned but many commuters haven’t as companies negotiate the particulars of a return to the office.

Public officials are concerned about lagging transit ridership in cities such as New York. Ed Glaeser, an economist at Harvard University, says cities are becoming more important — not less — in the age of remote work. “When you Zoom to work, you miss the opportunity to watch the people who are older, to watch what they’ve done and to learn from them,” he told CNBC in an interview. But for renters, a return to increasingly expensive cities might seem like a raw deal, especially if they can do their jobs from home.

Researchers say remote work limits firms’ ability to train new workers. Data produced by Microsoft’s workforce suggests that it is more difficult to share in-depth information remotely, which can produce silos within companies’ rank and file. “A lot of these tech companies, they’re saying you can work remotely,” said Andra Ghent, a professor of finance at the University of Utah. “But, you know, in many cases, they’re also saying, like, we’re not going to pay you quite the same amount.”

Cities: The Skyscraper Boom In Toronto, Canada

Canada’s biggest city is experiencing a skyscraper boom. Toronto, the capital of the province of Ontario, is a major Canadian city along Lake Ontario’s northwestern shore. It’s a dynamic metropolis with a core of soaring skyscrapers, all dwarfed by the iconic, free-standing CN Tower. Toronto also has many green spaces, from the orderly oval of Queen’s Park to 400-acre High Park and its trails, sports facilities and zoo.

U.S. Lifestyle Rankings: The Best Places To Live In 2022

The 10 Best Places to Live in the U.S. in 2022-2023:

1. Huntsville, Alabama
2. Colorado Springs, Colorado
3. Green Bay, Wisconsin
4. Boulder, Colorado
5. San Jose, California
6. Raleigh and Durham, North Carolina
7. Fayetteville, Arkansas
8. Portland, Maine
9. Sarasota, Florida
10. San Francisco

Housing costs are rising fast and there aren’t enough homes on the market nationwide to meet demand, and anyone looking to move is acutely aware of the competition and high cost to buy or rent a home. The Best Places to Live rankings factor in how the cost of living compares to the area’s median household income, but U.S. News & World Report also broke out the data into its own ranking.

Walking Tours: Verona In Veneto, Northern Italy

Verona is a city in northern Italy’s Veneto region, with a medieval old town built between the meandering Adige River. It’s famous for being the setting of Shakespeare’s “Romeo and Juliet.” A 14th-century residence with a tiny balcony overlooking a courtyard is said be “Juliet’s House.” The Verona Arena is a huge 1st-century Roman amphitheater, which currently hosts concerts and large-scale opera performances.

Cinematic Travel: The Beauty Of Budapest (4K)

Budapest, Hungary’s capital, is bisected by the River Danube. Its 19th-century Chain Bridge connects the hilly Buda district with flat Pest. A funicular runs up Castle Hill to Buda’s Old Town, where the Budapest History Museum traces city life from Roman times onward. Trinity Square is home to 13th-century Matthias Church and the turrets of the Fishermen’s Bastion, which offer sweeping views. 

Filmed by Sam Culff

Walking Tour: Shinjuku City In Tokyo, Japan (4K)

Shinjuku City encompasses the buzzing clubs and karaoke rooms of neon-lit East Shinjuku and upscale hotel bars and restaurants in the Skyscraper District. Tokyo Metropolitan Building has a popular observation deck, and Mount Hakone rises over tranquil urban parkland. Galleries, theaters, and bookstores attract students from busy campuses. New National Stadium is a high-tech sports venue built for the 2020 Olympics. 

Cinematic Views: Streets & Sights Of Lisbon, Portugal

Lisbon is Portugal’s hilly, coastal capital city. From imposing São Jorge Castle, the view encompasses the old city’s pastel-colored buildings, Tagus Estuary and Ponte 25 de Abril suspension bridge. Nearby, the National Azulejo Museum displays 5 centuries of decorative ceramic tiles. Just outside Lisbon is a string of Atlantic beaches, from Cascais to Estori

Walking Tour: Basel In Northwest Switzerland

Basel is a city on the Rhine River in northwest Switzerland, close to the country’s borders with France and Germany. Its medieval old town centers around Marktplatz, dominated by the 16th-century, red-sandstone Town Hall. Its 12th-century Gothic cathedral has city views, and contains the tomb of the 16th-century Dutch scholar, Erasmus. The city’s university houses some of Erasmus’ works. 

Aerial City Views: Lisbon – Capital Of Portugal (4K)

Lisbon is Portugal’s hilly, coastal capital city. From imposing São Jorge Castle, the view encompasses the old city’s pastel-colored buildings, Tagus Estuary and Ponte 25 de Abril suspension bridge. Nearby, the National Azulejo Museum displays 5 centuries of decorative ceramic tiles. Just outside Lisbon is a string of Atlantic beaches, from Cascais to Estoril.

Views: Guardians Of The River Seine In Paris, France

The River Seine is the beating heart of Paris. The banks of the river attract 8 million visitors each year, making it one of the busiest places in the French capital. We meet those who take care of the Seine seven days a week, from the technicians checking water quality to members of the river patrol, who respond to emergency call-outs and use radar to explore the river’s depths.