Monday, July 19, 2010

Around the Block, Global Edition

Who Wants to be a Hotelier? With the threat of foreclosure looming for homeowners all over the world, more and more folks are finding a reprieve by becoming self-made hoteliers, according to this Bloomberg article. Websites Airbnb, Craigslist and Home Away have helped save homeowners from losing their house by acting as an online marketplace for those who want to rent a house, room or couch for as little as one night.

New York, New York New York City has financed 14,676 affordable housing units during the 2010 fiscal year, more than any other city or state on record. The number of units financed is in line with Bloomberg Administration’s $8.4 billion New Housing Marketplace Plan. The goal is to create or preserve 165,000 affordable housing units by 2013. To date, the city has financed nearly 108,600 units.

Waiting for the Bubble to Pop? Beijing is in dire need of affordable housing after the Beijing University of Technology and the Social Science Academic Press released a report revealing that the average flat costs 22 times average income levels. Although the government has built low cost, government-subsidized housing, the supply has not come close to satisfying the demand for such housing options.

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