Paying the Price for Housing

first_imgHome / Daily Dose / Paying the Price for Housing March 7, 2019 1,532 Views Homeownership became less affordable across the country in 2018 while renting became marginally more affordable, according to a new report by Zillow. Amid worsening affordability in the U.S., homeowners in Los Angeles and renters in the largest Florida metros have the least cash left over after paying for housing, the report found. On the other hand, people in the Washington, D.C., metro area have the most money left over after they pay their mortgage. Based on the median annual gross income and mortgage payment, homeowners in Washington, D.C., have almost $7,000 of their monthly income remaining after paying for their house—the most out of the 35 largest housing markets. Typical renters in Washington, D.C., have nearly $6,500 left over from their income after their monthly rent payment, second only to San Jose at more than $6,800.”Finding that balance where housing costs leave a comfortable amount of spending money is tricky, especially when the prices of life’s non-housing essentials also vary widely by market,” said Skylar Olsen, Zillow Director of Economic Research.According to the report, the outlook is grim for those in Los Angeles considering California’s substantial income tax rates, which cuts into income left over for variable cost-of-living expenses like transportation, child care, and education. Zillow indicated that overall affordability for home buyers worsened last year due to rising mortgage rates and continued strong home value appreciation throughout most of 2018. At its November peak, the average 30-year fixed rate in the U.S. had increased to 4.94 percent from 3.95 percent at the beginning of the year. Now that the mortgage rates have reversed course declining 4.4 percent, home value appreciation in the nation’s biggest markets is cooling rapidly. This is a signal that mortgage affordability could improve in the coming months, the analysis forecasts. An estimated 17.5 percent of the median income is required for a mortgage payment on the typical home in the U.S. This has recorded an increase up from 15.4 percent in the last quarter of 2017, however, remains below the historic average of 21 percent from the late 1980s and 1990s, the report revealed. Using this traditional measure of housing affordability, less expensive Midwest markets such as Pittsburgh, St. Louis and Cincinnati top the list. Speaking of income spent by renters, Zillow stated that payments accounted for more than 30 percent of the median income in 13 large U.S. metros, widely considered the standard for unaffordable housing costs. Read the full report here. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Donna Joseph is a Dallas-based writer who covers technology, HR best practices, and a mix of lifestyle topics. She is a seasoned PR professional with an extensive background in content creation and corporate communications. Joseph holds a B.A. in Sociology and M.A. in Mass Communication, both from the University of Bangalore, India. She is currently working on two books, both dealing with women-centric issues prevalent in oppressive as well as progressive societies. She can be reached at [email protected] Sign up for DS News Daily About Author: Donna Joseph Servicers Navigate the Post-Pandemic World 2 days ago in Daily Dose, Featured, Market Studies, News Paying the Price for Housing Related Articles Tagged with: Affordability Median Income Mortgage Payment Skylar Olsen Zillow Share Save Data Provider Black Knight to Acquire Top of Mind 2 days agocenter_img Previous: Mr. Cooper Grows Servicing Portfolio to $548B Next: Fannie Economist Addresses Jobs Report Impact on Housing Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Affordability Median Income Mortgage Payment Skylar Olsen Zillow 2019-03-07 Donna Joseph Subscribe  Print This Post Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days agolast_img read more

World pledges 250 million euros for Lebanon’s people: France

first_imgCalls for calm At least 21 people are still missing from the huge blast, and the Lebanese army said Sunday hopes of finding survivors are dwindling.Lebanese people enraged by official negligence blamed for the explosion have taken to the streets in anti-government protests that have resulted in clashes with the army.Macron said it was now up to the authorities of Lebanon “to act so that the country does not sink, and to respond to the aspirations that the Lebanese people are expressing right now, legitimately, in the streets of Beirut.””We must all work together to ensure that neither violence nor chaos prevails,” he added. “It is the future of Lebanon that is at stake.”Trump also called for calm, according to the White House, which said he agreed with other leaders on the group call to “work closely together in international response efforts.””President Trump also urged the government of Lebanon to conduct a full and transparent investigation, in which the United States stands ready to assist,” it said.”The President called for calm in Lebanon and acknowledged the legitimate calls of peaceful protestors for transparency, reform, and accountability.” World leaders on Sunday pledged more than 250 million euros for disaster-struck Lebanon, conference host France said, with the emergency aid to be delivered “directly” to a population reeling from the deadly port blast in Beirut.Fifteen government leaders including US President Donald Trump took part in the virtual conference hosted by French President Emmanuel Macron and the UN, pledging solidarity with the Lebanese people and promising to muster “major resources” in the coming days and weeks.A joint statement issued after the meeting in which representatives of nearly 30 countries as well as the EU and Arab League participated, did not mention a global amount. ‘Generous help’ Apart from heads of state and government ministers, Sunday’s conference was attended by UN aid coordinator Mark Lowcock, representatives of the World Bank, the Red Cross, the IMF, the European Investment Bank and the European Bank for Reconstruction and Development.Israel, with whom Lebanon has no diplomatic relations, did not participate, though Macron said it had expressed a wish to contribute, nor did Iran which wields huge influence in Lebanon through the Shiite group Hezbollah.Key Arab states in the Gulf, including Saudi Arabia, Qatar, Iraq and the UAE were represented, as were Britain, China, Jordan and Egypt.Macron said Turkey, with which France’s diplomatic ties have been icy over the Libyan conflict, and Russia had indicated their support for the initiative, though they did not take part in the conference.According to the UN, at least 15 medical facilities, including three major hospitals, sustained structural damage in the blast, and extensive damage to more than 120 schools may interrupt learning for some 55,000 children.Thousands of people are in need of food and the blast interrupted basic water and sanitation to many neighborhoods.Pope Francis called Sunday appealed for “generous help” from the international community.France has been sending tons of medical and food aid, dozens of search and rescue personnel and forensic experts to aid the investigation, as well as reconstruction materials.On top of cash aid pledged so far, Egypt and Qatar have promised field hospitals, Brazil said it would send 4,000 tons of rice, and Spain 10 tons of wheat.”In these horrendous times, Lebanon is not alone,” concluded the conference statement. ‘Utmost efficiency and transparency’The joint statement from the world leaders and their representatives underscored concerns about Lebanese government corruption.”The participants agreed that their assistance should be timely, sufficient and consistent with the needs of the Lebanese people, well-coordinated under the leadership of the United Nations, and directly delivered to the Lebanese population, with utmost efficiency and transparency,” it said.USAID acting administrator John Barsa also said in a conference call Sunday that American help, some $15 million announced so far, “is absolutely not going to the government.”The donor nations urged Lebanon’s authorities to “fully commit themselves to timely measures and reforms” in order to unlock longer-term support for the country’s economic and financial recovery.And they said assistance for “an impartial, credible and independent inquiry” into Tuesday’s explosion “is immediately needed and available, upon request of Lebanon.”The UN said some $117 million will be needed for an emergency response over the next three months, for health services, emergency shelter, food distribution and programs to prevent further spread of COVID-19, among other interventions.Lebanese President Michel Aoun, who was also on Sunday’s group call, thanked Macron for the initiative.”Much is needed to rebuild what has been destroyed and to restore Beirut’s luster,” the Lebanese presidency quoted him on Twitter as saying.”The needs are many and we need to address them quickly, especially before the arrival of winter, which will accentuate the suffering of homeless citizens.”center_img But Macron’s office said the total figure of “emergency aid pledged or that can be mobilized quickly” amounts to 252.7 million euros ($298 millon), including 30 million euros from France.Macron was the first world leader to visit the former French colony after Tuesday’s devastating explosion of a huge stockpile of ammonium nitrate which killed more than 150 people, wounded some 6,000 and left an estimated 300,000 homeless.German Foreign Minister Heiko Maas told ZDF broadcaster that “more than 200 million euros of emergency aid have been collected,” including 20 million euros from Germany. 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Ronaldo sunbathes shirtless at home as partner goes shopping

first_img Loading… It is hoped that the spread is limited as Rugani remained an unused substitute for Maurizio Sarri on the Juventus bench. Wearing light make-up, Georgina completed her look for the day by letting her raven locks fall loose down her shoulders. Ronaldo flew to his homeland to visit his mother, who recently suffered a stroke, before the news broke and he must stay put rather than fly back to northern Italy where the outbreak is at its most rampant.The Portuguese press plastered the story over their front pages with Quotidiano Sportivo and Abola both running headlines about Ronaldo being in quarantine. All sporting events in Italy have been cancelled until at least April 3 but Juventus are scheduled to face Lyon in the Champions League next Tuesday. That game is due to be played behind closed doors but is now widely expected to be postponed by UEFA. Rugani is the second professional footballer to test positive, with Hannover 96 defender Timo Hubers currently in quarantine. He took to Twitter and wrote: ‘You will have read the news and that’s why I want to reassure all those who are worrying about me, I’m fine. ‘I urge everyone to respect the rules, because this virus makes no distinctions! Let’s do it for ourselves, for our loved ones and for those around us.’ Contact: Ronaldo (left) and Daniele Rugani (circled) shared a dressing room on Sunday Read Also: Pogba makes coronavirus fund-raising pledge Ronaldo had flown back to Turin prior to the Juventus game having spent time with his mother in hospital following her stroke. Dolores Aveiro, 65, has since said she was fully aware of what was happening and the stroke left her with no long-term physical damage. Ronaldo came back from her bedside to play on Sunday before returning to Madeira when he was told of Rugani’s positive test and enforced isolation. FacebookTwitterWhatsAppEmail分享 Cristiano Ronaldo was trying to make the most of his quarantine as he sunbathed shirtless on the balcony of his house in Funchal, Portugal on Monday. The footballer, 35, is self-isolating after his Juventus team-mate Daniele Rugani tested positive for COVID-19, however his girlfriend Georgina Rodriguez did enjoy some retail therapy on Tuesday. Relaxation: Cristiano Ronaldo, 35, was trying to make the most of his quarantine as he sunbathed shirtless on the balcony of his house in Funchal, Portugal on Monday Ronaldo displayed his ripped and gym-honed physique as he soaked up the sun on his balcony, donning a pair of lime green shorts and dark sunglasses. While Ronaldo has been staying at home, his other half Georgina cut a stylish figure as she stepped out for a shopping trip. The model, 26, displayed her jaw-dropping figure in a black skintight long-sleeved dress which she wore with a beige handbag. Out and about: The footballer is self-isolating after his Juventus team-mate Daniele Rugani tested positive for COVID-19, however his girlfriend Georgina Rodriguez did enjoy some retail therapy on Tuesday Wearing light make-up, Georgina completed her look for the day by letting her raven locks fall loose down her shoulders. Ronaldo flew to his homeland to visit his mother, who recently suffered a stroke, before the news broke and he must stay put rather than fly back to northern Italy where the outbreak is at its most rampant. Ronaldo and Rugani shared a dressing room on Sunday when Juventus beat Inter Milan 2-0 behind closed doors. Quarantine: Ronaldo flew to his homeland to visit his mother, who recently suffered a stroke, before the news broke and he must stay put rather than fly back to northern Italy A picture posted on Instagram by Miralem Pjanic after the game shows Ronaldo and Rugani celebrating the victory in a close huddle with their team-mates. Everyone who came into contact with Rugani on both sides has now required to be in isolation.center_img Promoted ContentWho’s The Best Car Manufacturer Of All Time?6 Extreme Facts About Hurricanes6 Of The Best 90s Shows That Need To Come Back ASAPTop 10 Most Romantic Nations In The WorldThe Highest Paid Football Players In The WorldThe Funniest Prankster Grandma And Her GrandsonBirds Enjoy Living In A Gallery Space Created For Them2020 Tattoo Trends: Here’s What You’ll See This Year11 Strange Facts About Your Favorite TV ShowsAir Pollution Is Rapidly Decreasing Thanks To COVID-19Who Is The Most Powerful Woman On Earth?5 Of The World’s Most Unique Theme Parkslast_img read more

Blackstone reviews CIRSA options as pandemic wipes out IPO potential

first_imgShare GVC absorbs retail shocks as business recalibrates for critical H2 trading August 13, 2020 Submit Related Articles US private equity fund Blackstone Group has moved to safeguard its investment in Spanish gambling operator Grupo CIRSA purchasing €120 million of the firm’s debt notes.Last week, CIRSA published headline Q1 trading figures, revealing that company growth had been wiped out during March, with the company being forced to shut down its entire retail presence across Spain and South AmericaNavigating COVID-19 headwinds, CIRSA saw group operating profits fall by 14% to €89 million, stating that the global pandemic had ‘interrupted all core CIRSA business units’.In a separate investor call, CIRSA would disclose that Blackstone had sanctioned a €120 million transaction safeguarding corporate debts notes that had sunk in value below 40%.Spanish business news sources report that Blackstone has been forced to rethink CIRSA prospects, a gambling asset the US PE firm acquired in 2018 for €2 billion from the Lao Hernández family.Refinancing its asset, Blackstone will no longer pursue an IPO for CIRSA, which was branded as the fund’s desired outcome, floating the world’s largest Spanish-language gambling operator.Of further concern, during 2019 CIRSA expanded its corporate debt by €400 million, following an aggressive M&A strategy in which it acquired bookmaker Sportium from joint venture partner Ladbrokes and Spanish retail fruit machines vendor GiGA Games.CIRSA investments see the firm trade at a current debt ratio of 4.6X its operating income (473m for FY 2019), a factor that will increase as COVID-19 wrecks the firm’s 2020 expectations.Despite its woes, CIRSA cannot be branded as Spanish gambling’s biggest liability, as main market rival Codere SA fights for its survival, unable to pay its monthly debt coupons.Unable to raise further capital from US debt holders, market eyes have turned to company chairman Norman Sorensen’s, and whether he will trigger a fire sale of Codere’s LATAM assets at a discounted value. StumbleUpon Andrea Vota – Jdigital’s challenge of Spanish restrictions is led by logic and rationale August 13, 2020 Share Winamax maintains Granada CF sponsorship despite bleak Spanish outlook August 19, 2020last_img read more