America’s growing housing affordability gap

first_imgWhen it comes to buying a home, America’s affordability gap is growing ever Les ChristieFor the typical American household earning the median income, 65.5% of homes were affordable during the first quarter, according to a survey by the National Association of Home Builders (NAHB) and Wells Fargo Bank’s Housing Affordability Index.But in cities like San Francisco, Los Angeles, New York, Boston and Denver, where prices are soaring, it’s much more difficult for the average earner to afford a home.“High-cost cities are rebounding faster than low-cost ones,” said David Crowe, chief economist for the NAHB. “Unusually large increases in wealth have driven up prices.”Related: Tech workers squeezing out rentersIn San Francisco — the most expensive metro market in the nation with a median home price of $815,000 — only 13.3% of homes could be purchased comfortably by households earning the median income of $100,000. That was down from 28.9% in 2013. Expensive cities tend to keep growing more expensive because they’re already so densely packed with housing. “A way to keep prices down is to add to the supply by building new homes,” said Crowe continue reading » 4SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img read more

“Not valid” is no decision at all

first_imgStay at the forefront of thought leadership with news and analysis from award-winning journalists. Enjoy company features, CEO interviews, architectural reviews, technical project know-how and the latest innovations.Limited access to industry news as it happensBreaking, daily and weekly e-newsletters Subscribe now for unlimited access Get your free guest access  SIGN UP TODAY To continue enjoying, sign up for free guest accessExisting subscriber? LOGIN Subscribe to Building today and you will benefit from:Unlimited access to all stories including expert analysis and comment from industry leadersOur league tables, cost models and economics dataOur online archive of over 10,000 articlesBuilding magazine digital editionsBuilding magazine print editionsPrinted/digital supplementsSubscribe now for unlimited access.View our subscription options and join our communitylast_img read more

Rail privatisation included in Greek asset sale

first_imgGREECE: The government announced the part-privatisation of Hellenic Railways Organisation on June 2. Stakes in a range of state-owned road, port, airport, utility and land assets are to be sold under agreements with the European Commission and international financial institutions which aim to reduce debt and tackle the country’s economic crisis.A 49% stake in train operating business Trainose will be sold to a strategic investor, which will be responsible for management. There will be market-based agreements for services and maintenance. The Ministry of Infrastructure will release a comprehensive recovery plan for OSE by the end of June, setting out plans to cut the railway’s annual losses of €1bn and €10bn of debt. Restructuring is likely to include the separation of passenger and freight activities, a reduction in staff and closure of loss-making lines. Future investment will be through PPP and concession agreements, with stations and commercial property to be managed through special purpose companies in which the state will have a 49% stake.last_img read more

World rail freight news round-up

first_imgGenesee & Wyoming subsidiary Freightliner has successfully operated a 4 624 tonne ‘jumbo train’ of aggregates from Merehead in Somerset to Acton in London, which it described as ‘the heaviest freight train currently running in the UK’. This was a trial run ahead of Freightliner taking over the haulage contract for the Mendip Rail joint venture of Hanson UK and Aggregate Industries. As the contract envisages the movement of 8 million tonnes/year, G&W’s Bulk Commercial Director for the UK/Europe Region, David Israel said ‘it was crucial that we tested the maximum haulage capability using one of our powerful Class 70 locomotives’. A programme of level crossing grade separation works has been proposed by the South Australian Freight Council in its Moving Freight 2019 submission to the 20 Year State Infrastructure Strategy, published on July 31. SAFC also argues that road improvements are needed on the Eyre Peninsula following the decision to switch bulk grain movements from rail to heavy lorries. Mercitalia Rail has signed a four-year agreement with Italian steel processor Marcegaglia Group for the transport of steel by rail. Averaging 1·3 million tonnes per year during 2019-22, this will require the operation of around 30 trains per week, using new high-performance locomotives and ‘intelligent’ coil-carrying wagons. Principle flows will be on domestic routes from Ravenna to Gazoldo degli Ippoliti and Casalmaggiore, and international services from Italy to Germany, Poland and Serbia. GB Railfreight has begun operating four trains per week for British Steel, moving coke nuts from Redcar to Scunthorpe in open wagons. United Transport & Logistics Co Eurasian Rail Alliance has reported a 34% year-on-year increase in container traffic volumes on its China – Europe route, during the first six months of 2019. Westbound traffic rose 27% to 78 268 TEU and eastbound traffic by 45% to 56 921 TEU. According to President Alexei Grom, the container trains are ‘consistently’ covering an average of 1 100 km/day, reducing the Dostyk – Brest transit time to five days, ‘and in some weeks, 4·8 days’, which is the best that the company has ever achieved. Mirko Pahl has stepped down as Chief Executive of TX Logistik for personal reasons, leaving the Mercitalia subsidiary with effect from July 31 after spearheading its restructuring since March 2017. Royal Vopak, Mitsubishi Corp and Covestro have joined existing backer AP Ventures to inject €17m into Hydrogenious LOHC Technologies GmbH, which is working on the development of its Liquid Organic Hydrogen Carrier technology for the storage and transport of bulk hydrogen ‘as easily and efficiently as conventional liquid fuels’. David Trent has been named Vice-President & Chief Digital Officer at Canadian National. Reporting to Executive Vice-President & Chief Information & Technology Officer Michael Foster, he will be responsible for modernising and updating CN’s scheduled railroading model.last_img read more

Brothers Osborne set October release for new album Skeletons

first_imgBrothers Osborne will release their third studio album Skeletons on 9th October 2020.The brothers – John and TJ – have teamed up with longtime producer Jay Joyce for the new collection. They’ve co-written every track along with frequent collaborators Lee Miller, Craig Wiseman, Natalie Hemby, Casey Beathard and more.“If Pawn Shop was our introduction, and Port Saint Joe was like the first conversation we had with someone over a beer, then Skeletons is the moment where you start getting down to the real stuff and showing who you are,” says John. “If you really want to get to know us, this is the record to do it.”The album features current single All Night, which the duo recently performed on The Ellen DeGeneres Show.Credit: Snakefarm RecordsThe track listing for Skeletons is:1. Lighten Up (John Osborne, TJ Osborne, Daniel Tashian and Ian Fitchuk)2. All Night (John Osborne, TJ Osborne and Andrew DeRoberts)3. All The Good Ones Are (TJ Osborne, Lee Miller and Craig Wiseman)4. I’m Not For Everyone (John Osborne, TJ Osborne, Luke Dick and Natalie Hemby)5. Skeletons (John Osborne, TJ Osborne and Andrew DeRoberts)6. Back On The Bottle (John Osborne, TJ Osborne and Hayes Carll)7. High Note (John Osborne, TJ Osborne, Casey Beathard and Dustin Christensen)8. Muskrat Greene (John Osborne)9. Dead Man’s Curve (John Osborne, TJ Osborne, Lee Miller)10. Make It A Good One (John Osborne, TJ Osborne and Stephen Wilson Jr.)11. Hatin’ Somebody (John Osborne, TJ Osborne and Casey Beathard)12. Old Man’s Boots (John Osborne)Earlier this year, Brothers Osborne received their sixth GRAMMY nomination in the Best Country Duo/Group Performance category for their nostalgic Top 40 hit I Don’t Remember Me (Before You).last_img read more

Zimbabwe’s new leader wants Trump golf courses

first_imgZimbabwe’s President Emmerson MnangagwaZimbabwe’s new president said on Wednesday he would welcome the US president to build a golf course in his country.“If President Trump came here today when I am still around I would… say: ‘Oh, Mr President, Zimbabwe is open for business’,” President Emmerson Mnangagwa said at the World Economic Forum in Davos.“I know Americans like to play golf – come and build golf courses… build hotels, I will give you incentives,” he added. “We are open and we want to catch up with the rest of the region.”He was replying to a question about reported remarks by Trump earlier this month in which the US president allegedly complained about opening borders to immigrants from “shithole countries”.Mnangagwa took office in November after a shock military takeover led to the resignation of long-time president Robert Mugabe.In his appearance at Davos, he promised to hold a fair vote and to accept the result if he loses.last_img read more

Kipchoge, Salah lead Africa in pouring tributes for Kobe Bryant

first_imgKobe Bryant, 41, died in a Helicopter crash on Sunday alongside his daughter Gianna and seven other people on board.Africa has joined the rest of the world in mourning basketball legend Kobe Bryant who died in a Helicopter crash on Sunday alongside his daughter Gianna and seven other people on board.The group was flying to Thousand Oaks, California, for a basketball game where Gianna was expected to play and Kobe was expected to coach.The cause of the helicopter crash has yet to be revealed but initial reports indicate it may have been caused by bad weather.Sports personalities from across the world have taken lead in mourning the former Los Angeles Lakers star.Africans have also sent their messages of condolence to the family of Kobe.World marathon record holder Eliud Kipchoge was at the forefront in mourning a fellow athlete. football star Mohamed Salah was quick to pass his condolences to Kobe’s family;My heartfelt condolences go out to the families and friends of Kobe and of those who died in the terrible accident.— Mohamed Salah (@MoSalah) January 26, 2020Former Chelsea and Cote d’Ivoire striker Didier Drogba hailed Kobe as a ” true champion and a great man.” Africa’s Economic Freedom Fighter’s Party tweeted;EFF sends its heartfelt condolences to the family, friends and the entire basketball fraternity on the passing of Basketball legend, Kobe Bean Bryant and his daughter, Gianna Bryant.May their souls rest in perfect peace.#RIPKobeandGianna— Economic Freedom Fighters (@EFFSouthAfrica) January 27, 2020The U.S. Embassy in Kenya also sent it’s message of condolence through Twitter;We join Kenyans in the sport fraternity in mourning the death of @NBA basketball star Kobe Bean Bryant and his daughter in a fatal helicopter crash in the United States. Our deepest condolences go out to his family, friends and fans across the world including Kenya.— U.S. Embassy Nairobi (@USEmbassyKenya) January 27, 2020Kenya’s football captain Victor Wanyama said Kobe had given the world some of its best moments.R.I.P legend, and Thank you for giving us some of the best moments of our life. #24— Victor Wanyama (@VictorWanyama) January 26, 2020 Talk Africa: Industrializing Africa Africa Rising Related World pays tribute to NBA legend Kobe Bryantlast_img read more

Cabinet to meet with visiting nationals

first_img Share LocalNews Cabinet to meet with visiting nationals by: – October 26, 2016 Tweet Participants of the annual Diaspora Forum at the Krazy Koconuts in Castle Comfort (file photo)Press releaseRoseau, Dominica, Wednesday October 26, 2016—As part of activities to observe this year’s thirty-eighth anniversary of Independence, the Government of the Commonwealth of Dominica will host its annual Diaspora Forum on November 01, 2016 at the State House Conference Centre from 10:00 am to 12:30 pm.The event gives visiting nationals an opportunity to interact with the Cabinet of Dominica and to deliberate on matters of national development. All visiting overseas nationals are therefore invited to attend. This year, the event will be held under the theme “Strengthening Our Commitment Through Investment.” Prime Minister and Minister for Finance, Hon. Dr. Roosevelt Skerrit; Hon. Roselyn Paul, Minister for Commerce, Enterprise and Small Business Development; Hon. Ian Douglas, Minister for Trade, Energy and Employment and Dr. Kenneth Darroux, Minister for Health and Environment will make presentations at the forum. There will also be an interactive segment for discussion, as well as questions and answers.The event will be carried live via local radio stations and the internet. Persons living in the Diaspora who are not able to attend are encouraged to tune in. Sharecenter_img Share 525 Views   one comment Sharing is caring!last_img read more

Range Developments Headline Partner for 9th Jazz ‘n Creole

first_imgBusinessLocalNews Range Developments Headline Partner for 9th Jazz ‘n Creole by: – May 1, 2018 93 Views   no discussions Share Sharing is caring! Sharecenter_img Share (Press Release) Roseau, Dominica – (May 1, 2018) The Dominica Festivals Committee proudly welcomes Range Developments as headline partner of the 9th edition of Dominica’s Jazz ‘n Creole. Range Developments, an investment and hospitality company, is the developer of the 5 Star Cabrits Resort Kempinski, Dominica at Douglas Bay in the north of the island. Range Developments is proud to support the local economy and promote Dominica’s rich culture and heritage. Range Developments is focused on developing high-end sustainable resorts in the Caribbean. Its flagship project Park Hyatt St. Kitts is open to guests since 1 November 2017. This luxury resort has received multiple awards and has been widely recognized in the international media. CNN has singled it out as “the Best Hotel in the Caribbean” with Forbes naming it “a grand Caribbean debut that was well worth the wait”. Range Developments has a whole host of development projects in its pipeline including the Six Senses St. Kitts. Construction on this project will commence in late 2018. The Cabrits Resort Kempinski is Dominica’s first government approved Citizenship by Investment real estate project and will open its doors in mid 2019. The 9th edition of Dominica’s Jazz ‘n Creole is proudly presented by the Government of Dominica through Ministry of Tourism and Culture and Discover Dominica Authority alongside headline sponsor Range Developments. Tweetlast_img read more

Sipalay bans tourists

first_imgLizares said all travelers coming from and going to any declared high-risk areas shall not be allowed to enter Sipalay City except for the delivery of goods and items. Mayor Ma. Gina Montilla-Lizares announced this move through an executive order. She cited spike of local transmission of coronavirus disease 2019 (COVID-19). All travelers would also be subjected to checkpoints and local COVID-19 protocols in the city./PN BY DOMINIQUE GABRIEL BAÑAGAcenter_img Delivery personnel, meanwhile, are required to present their latest medical clearance, company identification cards and delivery or travel order. BACOLOD City – The local government of Sipalay City in Negros Occidental has temporarily banned tourists beginning Tuesday until the end of the month.last_img read more