Kobe Chung Hao-yin and girlfriend Mandy Chung Man-kei have taken a step closer to being able to get married after moving into a youth hostel following months of searching for affordable housing in Hong Kong. Kobe Chung, a 24-year-old working in the engineering sector, and Mandy Chung, also 24, earn a combined salary of about…
With home prices near a record high and mortgage rates remaining elevated, renting a place to live around the U.S. is today considered a better alternative to buying. But here’s the catch: Rents are surging, too. Zillow calculates that renters need at least $80,000 in annual income to comfortably afford the typical apartment rental — up from…
Reaching the six-figure salary threshold may be considered a financial victory for many Americans, but in a many big U.S. cities the once aspirational milestone just doesn’t cut it anymore. In one out of four large metro areas in the United States, a family of three with a household income of $100,000 will still struggle…
Acute shortages of larger social housing suitable for families mean it would now take more than 100 years to clear waiting lists in some places, according to analysis of official figures. Amid concerns about the suitability, safety and costs of temporary accommodation, the research found that in the nine council areas with the most acute…
Robots build full-scale 3D-printed homes in 24 hours – CBS News Watch CBS News California company “Azure Printed Homes” wants its 3D printing technology to help speed up the wildfire recovery efforts in the Los Angeles area. Its robots can print full-scale homes in 24 hours. Danya Bacchus reports. Be the first to know Get…
Why more Americans are fleeing big cities for more affordable living – CBS News Watch CBS News As rising mortgage costs make homeownership in big cities out of reach, Americans are flocking to exurbs—smaller towns on the outskirts of major metropolitan areas. Zillow’s chief economist, Skylar Olsen, joins us to discuss the growing trend, with…
A government plan to build 12,000 homes on Hong Kong’s oldest golf course has been controversial since it was forged five years ago. The development, which involves taking back 32 hectares (795 acres) of land from Hong Kong Golf Club, raises complex issues involving competing public interests. It has given rise to strong feelings. There…
Jeff Bezos, the world’s third-richest man, does not have a private foundation but instead gives through his Bezos Earth Fund (climate change), Bezos Day 1 Fund (education and homelessness) and direct contributions. Photograph by Michael Prince/The Forbes Collection Amazon founder Jeff Bezos, the world’s third-richest person, announced $110.5 million in new grants to nonprofits working…
With the average rent in San Francisco hitting $4,000 a month, some residents have found a unique way to cut costs: sleeping pods. For just $700 a month, residents can rent a pod at Brownstone Share Housing, which includes a twin bed, two fans, a mirror and a curtain for privacy. These compact living spaces…