Deep-pocketed fans may have an easier time snagging this home than Taylor Swift’s tour tickets.
The Manhattan townhouse that inspired the pop star’s “Cornelia Street” song has hit the market.
The former carriage house, on the track name-worthy Cornelia Street, listed one week ago for $17.99 million, according to StreetEasy.
Previously, the property was only looking for renters, not buyers. It went up for rent at a cool $45,000 a month late last year, and is still available to tenants at that price.
(That’s just $500 more than two particularly pricey resold tickets to Swift’s current Eras tour.)
Laurence Carty, Irene Lo and Jennifer Rahilly of the Corcoran Group hold the listing.
Swift, 33, called the West Village charmer her home in 2016 while waiting out the completion of renovations at her nearby Tribeca abode.
There, at her permanent residence, she’s spent some $47.7 million building out a palatial portion of Franklin Street, mostly in the block’s historic Sugar Loaf Building, where she now has a duplex penthouse and half of the building’s second story, The Post previously reported.
And that’s just the start of the “Blank Space” icon’s real estate profile: All included, the singer has some $80 million worth of property to her name across the nation.
Back on Cornelia Street, the 153-year-old domicile still maintains its classic brick facade but, inside, it has been thoroughly modernized.
There are three gas fireplaces, hardwood floors, double-height ceilings and a “celebrity tested, drive-right in garage and pool,” as the listing puts it.
The pool, a gym and a modest backyard compose the garden level, with the garage and a guest suite above. The kitchen, living room, dining room and a bedroom are on the second floor.
The third floor contains the primary bedroom, its sumptuous terrace and, at the front of the house, another bedroom with terrace, all just a floor below the two-terraced roof deck.
Background
2023 provides a unique opportunity to advance action at the intersection of climate and health, with the COP28 presidency that has committed to make health a focus of the COP, including by mounting a Health Day, and presenting a strong COP28 Health Programme. This opportunity places extra demands on coordination among health partners including health civil society organizations engaging on climate change.
WHO recognizes the important role of the public health community in highlighting the importance of health protection and promotion within the Climate Change debate. In line with its Work Plan (Action 1.2: Develop and run a global awareness-raising and advocacy campaign aiming to put health at the centre of the climate change mitigation and adaptation agenda at the international level), and its Global Strategy (Activity 35.a: Foster high-level political support, in interactions with Member States and civil society. And 35.d: Ensure the “voice of health” is heard.)
Key partnerships and global advocacy activities
The World Health Organization-Civil Society Working Group on Climate and Health (the Working Group) was launched by WHO at the World Health Assembly in 2019 at the request of Director-General Tedros and is co-chaired by WHO and the Global Climate and Health Alliance (GCHA).
The Working Group, as the formal mechanism of WHO-health civil society collaboration on climate and health, is a particularly important body to support coordinated and impactful health engagement this year in the run up to and during COP28.
Since 2021, WHO is hosting a Health Pavilion in the central negotiating space of the COP (the “Blue Zone”). The WHO Pavilion provides a powerful platform for health programming alongside the negotiations and an anchor point for the health community attending and participating in person at COP. The Pavilion builds upon and highlights activities led by the Working Group, which will build momentum throughout the year to put health at the center of the climate conversation. The Working Group provides also vital input to the development of a WHO Guidance for Health Professionals on Climate Communications.
In 2021, working with WHO and others, the UK co-led the successful COP26 Health Programme, where over 60 countries have now signed up to build climate resilient and/or sustainable, low carbon health systems. To maintain momentum, the Alliance for Transformative Action on Climate and Health (ATACH) was established as a mechanism for collaboration and coordination that:
- provides a platform for knowledge, best practice and expertise sharing.
- monitors global progress and promotes accountability for the commitments.
- facilitates and coordinates technical assistance provision.
- generates collective action to address global challenges such as access to finance for developing countries, and greening supply chains.
ATACH is convened by the WHO, with UK and Egypt the supporting co-conveners. ATACH’s membership includes most of the COP26 health programme committing countries, and a range of partners including bilateral donors, multilateral organisations, civil society, implementing agencies, private sector alliances.
Four thematic working groups have been established, each chaired by a member country and co-chaired by a partner agency. They focus on: (1) climate resilient health systems, (2) low carbon, sustainable health systems, (3) finance, (4) supply chains.
Duties and responsibilities
WHO Climate Change and Health team would like to engage with an NGO who could support for the implementation of the following activities:
- Support of the WHO/CSOs Working Group on Climate Change and Health
- Prepare health Civil Society Organizations to actively engage with WHO activities in the lead up to COP28
- Support the preparation, coordination and implementation of the COP28 Health Pavilion programme and activities
- Organise online webinar consultations (2-3) with key professional health associations in support of ATACH
- Coordinate the preparation of join WHO/CSOs key health and climate messages to promote coherent awareness raising in national and international Climate Fora
Period
Period: 1 July 2023 – 31 December 2023
Contact
The Climate Change and Health team
If you are interested, please send your Expression of Interest by 15 June 2023 to [email protected] and add “WHO support to WHO Collaboration with Civil Society and ATACH in preparation for COP28” to the email’s subject.
Property consultancy Carter Jonas has appointed Arthur Chambers as head of its Bristol office.
He is taking over from Andrew Hardwick who also leads the firm’s Bristol commercial office agency team.
Chambers joined Carter Jonas as a graduate surveyor in 2006. Having started his career in Wiltshire, he moved to Bath and then Bristol, progressing through the business to lead the firm’s Bristol rural team.
With an agricultural background, he is known for providing agency and professional advice in the rural sector to private individuals, public bodies and corporate clients.
In his new role, Chambers will work with the office’s 50-strong team to determine the direction of its operations in Bristol and the surrounding areas whilst driving firm-wide, cross-divisional initiatives in collaboration with Carter Jonas national network.
Arthur Chambers said: “This marks our fourth year since launching in Bristol, and, under Andrew’s leadership, our business has gone from strength to strength. It has been incredibly exciting to be a part of this expansion and I look forward to working with Andrew and the rest of the talented team at St Catherine’s Court to continue to grow our business and increase awareness of the services we provide and the expertise of our multi-disciplinary team.
“We have professionals working across all sectors of the built environment and are well-placed to advise and support clients on the wealth of opportunities in the South West market.”
Andrew Hardwick added: “Having worked alongside Arthur since joining Carter Jonas, I am so pleased to be handing over the reins to him. He is an integral member of our team, as passionate about his sector as he is about our wider business.”
Purpose of consultancy
The Climate Change and Health (CCH) team is seeking technical support to develop a global research agenda.
A process has been developed by WHO in early 2023 to draft a new global research agenda for climate and health and establish a foresight function to identify emerging issues. The work to be carried out through this consultancy will cover the implementation of this process to draft the new global research agenda for climate change and health that will create demand for research providing evidence for action, as well as to address emerging issues such as mental health and the role of non-carbon climate forcers.
Background
Climate change is now recognized as one of the defining challenges of the 21st century, and protecting health from its impacts is an emerging priority for the public health community. The potential range and magnitude of associated health risks should be central to the rationale for actions to mitigate the occurrence of climate change and to adapt to effects that are already happening. The evidence base on climate change and health has grown rapidly and has recently been summarized through the 6th Assessment report of the Intergovernmental Panel on Climate Change. Research has mainly concentrated on the identification, characterization, and quantification of the linkages between climate and health, with less focus on applied research to lessen associated health risks. Research output in the peer-reviewed literature is predominantly supply driven by researchers, rather than demand driven by policy makers. This results in weak or unbalanced coverage of the priority issues identified by governments or other decision-makers and misses the opportunity to increase engagement and coownership through the co-development of research agendas between the end-users and the producers of evidence.
To address these issues, a set of global research priorities in climate change and health shall be identified, and a new research agenda developed aiming to guide funders and decision makers of research in climate change and health for strengthening the evidence for international and national action on climate change and health.
Deliverables
1. Finalize landscaping of climate change and health stakeholders and existing and upcoming priorities.
2. Prepare and implement consultation processes with a wide range of experts and relevant stakeholders on research priorities (at regional and global levels) in climate change and health, including also identification and selection of participants, preparation of input documents, consultation meetings, design and analysis of online surveys and drafting of outcome reports.
3. Prepare and implement a process on foresight in climate change and health research with experts and relevant stakeholders, including also identification and selection of participants, preparation of input documents, meetings and drafting of outcome reports.
4. Drafting of final modular research agenda (website and report)
5. Contribute to related communication and dissemination activities.
Qualifications, experience, skills, and languages
Educational Qualifications
• Essential: Minimum first university degree in public health, environmental health, climate science, health research, environmental and earth sciences, biology, or equivalent.
• Desirable: Advanced university degree in public health, environmental health, climate science, health research, environmental and earth sciences, biology, or equivalent.
Experience
Essential: 4 to 5 years of relevant experience in stakeholder consultations and research in public health, environment, climate change, and health, including environmental health, preferably at an international level.
Desirable
- Prior publications (thesis, reports, scientific articles, policy briefs, or similar) as author on topics related to climate change and health
- Previous work experience within WHO or another UN agency
- Experience in stakeholder consultations at international level
Skills/Knowledge
- Technical knowledge of health linkages with climate change, social and environmental determinants of health, One Health, Planetary Health, and with climate change mitigation and adaptation action.
- Excellent interpersonal, collaborative, and communication skills.
- Good writing skills in the preparation of technical and scientific reports, project briefs, peerreviewed publications, etc.
- Ability to work in international settings with staff from various geographical regions.
- Knowledge of stakeholder consultation processes
- Fundamental data analysis and data management skills.
Languages and level required
Essential: Expert knowledge of English.
Desirable: Knowledge of another WHO official language (Arabic, Chinese, French, Russian, Spanish)
Contact
The Climate Change and Health team
If you are interested, please send your CV by 10 June 2023 to [email protected] and add “consultancy
on research agenda” to the email’s subject.
According to an analysis conducted by John Burns Research and Consulting, institutional investors—those owning over 1,000 homes—bought 90% fewer homes in January and February than they did in the first two months of 2022.
Look no further than American Homes 4 Rent, which in the first quarter of 2023 sold off more single-family homes (666) than it bought (312). That net decline saw the Las Vegas-based company’s portfolio shrink from 58,993 rental homes across the country to 58,639 homes.
Just a year earlier, in the first quarter of 2022, American Homes 4 Rent bought 1,131 homes and only sold off 171 homes. Back then, the Pandemic Housing Boom was still seeing a flood of institutional homebuying. Low interest rates, easy access to capital, soaring rents, and skyrocketing home values were just too good of a deal for mega investors to pass on.
Earlier this month, we learned that Invitation Homes, the largest owner of U.S. single-family rental homes, is also now a net seller right. In the first quarter of 2023, Invitation Homes bought 194 homes while it sold off 297. That net decline saw the Dallas-based company’s portfolio shrink from 83,113 single-family homes to 83,010 homes.
That’s a sharp reversal from a year ago when in the first quarter of 2022, Invitation Homes—which Blackstone helped to grow before divesting in 2019—bought 822 single-family homes and sold off only 147 homes.
Why are institutional investors, like American Homes 4 Rent and Invitation Homes, pulling back from the U.S. housing market?
It boils down to the fact that financial returns on each additional home added just aren’t that great right now after factoring in spiked interest rates and frothy house prices. Not to mention, rent growth has decelerated over the past year.
That sentiment was echoed by Tejas Joshi, director of single-family residential at Yieldstreet, which owns over 700 single-family homes. Interest rates on “floating” loans offered to firms like Yieldstreet are still in the 7% to 8% range, Joshi says. Those high interest rates, coupled with frothy home prices, mean that buying new single-family rentals doesn’t make a lot of sense right now for some institutional investors.
Through the first quarter, Joshi says, Yieldstreet has yet to buy a single home in 2023. That’s despite the fact that Yieldstreet would like to grow its single-family home portfolio from its value right now of around $200 million value to $1.5 billion by around 2028.
“If short-term [interest] rates came down around 4%, and if home prices were about 15% lower than the peak last year, that is a valuation that supports the equity return that investors need to make,” Joshi says.
Want to stay updated on the housing market? Follow me on Twitter at @NewsLambert.
Most homeowners planning to relocate for retirement sell their houses, downsize, and then put the profit toward their investments and lifestyle dreams. However, some seek to convert the property they already own into a new income source by turning it into a rental.
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There are arguments to be made for both, and neither scenario will suit everyone. Here’s what you need to consider.
First Things First — Can You Afford To Move Without the Lump Sum?
As with so many other things regarding retirement, money will make many of the big decisions for you. Will you have enough money to pull off the move if you don’t sell, and even if you can, will doing so leave you strapped and stressed?
“If you need the cash from the sale of your home to fund your retirement or to buy a new home in your new location, then selling may be the best option,” said Cam Dowski, an interior designer, Realtor and founder of WeBuyHousesChicago. “On the other hand, if you have the financial means to maintain and rent out your home, then renting may provide you with a steady stream of income during retirement.”
Is the Income Stream Worth the Headaches?
Rental properties generate income, but they also generate stress and a never-ending to-do list summarized in the dreaded “three Ts“: taxes, tenants and toilets.
“As someone who has spent most of his adult life as a landlord, I can tell you that the average person dramatically underestimates the headaches and overestimates the profits of being a small-time landlord,” said Brian Davis, real estate investor and founder of SparkRental.
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“Most retirees, especially those living long-distance, don’t want to hassle with chasing down delinquent tenants for rent, filing eviction and arranging for someone to show up in court on their behalf or cleaning out all the junk abandoned when they finally leave. For that matter, most retirees don’t want to hassle with the more mundane tasks of filling vacant units, screening renters, signing leases with all the necessary addenda and disclosures, documenting move-in and move-out walkthroughs, storing security deposits in accordance with state and local laws, repair complaint phone calls from tenants, and so forth.”
The Property Management Compromise
If you like the idea of steady rental income but recognize that being a landlord can be hard, frustrating and all-consuming work, there’s a way to make the income stream much more passive — for a fee.
“Renting out your home and having a property manager take care of everything is a great option,” said Kelly Sollinger, owner of the real estate investment firm Georgia Fair Offer.
According to All Property Management, management companies typically charge 8%-12%, so you’ll have to factor that expense into your budget. But, as Sollinger points out, the compromise “gives the retiree some mailbox money every month.”
If You Rent It, Keep Your Income Expectations in Line With Reality
The rule of 1% says that you have to charge 1% of the home’s value in monthly rent to generate positive cash flow. If your house is worth $500,000, that’s a cool $5,000 per month, right? Don’t bet on it.
According to Kiplinger, that formula doesn’t account for appreciation and mostly works for properties purchased specifically as investments.
If you’re near retirement and you’ve owned the home for a long time, your house has probably increased in value over the years. That would make most lived-in homes worth $500,000 terrible investment properties even if they’d be great homes to buy as primary residences.
The 50% Rule
If you wouldn’t buy your home as an investment property, don’t assume you’ll get 1% by renting it out. Even if you do, plan to kiss half of that monthly check goodbye.
“When it comes to cash flow on rental properties, there’s a rule of thumb in the industry called the 50% Rule,” said Davis. “You can expect around 50% of the rent to go to non-mortgage expenses. These include vacancy rates, repairs, maintenance, property taxes, property insurance, property management, accounting, and so on. So retirees should ask themselves a question: What kind of cash flow am I looking at if I cut the rent in half and then subtract the mortgage payment?”
How Far, Exactly, Are You Relocating?
Life as a landlord can be challenging, but life as an absentee landlord is often beyond the bounds of possibility for the average person — particularly one who’s getting on in age.
“If you are relocating at some distance from your property, I feel strongly that it is a much better idea to sell your house instead of renting it,” said Bridget Blonde, a Realtor with Nest Realty. “I have experience in these situations and several have not turned out well for elderly landlords. If your health changes and you can no longer make the trip to check on your property or deal with your tenants, you will need a trusted and effective property manager to do this for you. If you do not have a good property manager, over time you will lose touch with what is going on with and at your property and this can lead to numerous problems.”
A Sale Is Guaranteed Cash — Steady Rental Income Is Not
Once you sell your home, you’ll have a lump sum in the bank to spread out among any number of investments. But if you tie up all or most of your nest egg in a rental, your financial security becomes much more precarious — especially if you’re not an experienced veteran.
“It’s risky to fiddle in the investment property business as it requires expertise to make significant profits, mainly due to leveraging,” said Alyson Peck of Bridge The Gap Home Buyers. “Engaging in this field without proper knowledge can result in financial loss. Therefore, I advise against renting your home.”
On top of all that, owning a rental comes with a bevy of tax considerations that don’t apply to home sales, including the loss of the highly favorable 121 exclusion, which lets you write off up to $250,000 from the sale of your primary residence.
“Your home was never designed to be an investment,” said Davis. “Sell it, and then consider reinvesting the proceeds in passive real estate investments such as real estate crowdfunding or real estate syndications. In many cases, you get all the benefits of real estate ownership but none of the headaches.”
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This article originally appeared on GOBankingRates.com: Should I Sell or Rent My House When I Relocate for Retirement?
Located on Florida’s “Space Coast,” Melbourne, FL is a popular destination for those looking to move to a city with a warm climate, beautiful beaches, and a laid-back lifestyle. Whether you’re considering renting an apartment in Melbourne, FL, or buying a home in the city, you can find plenty to love in Melbourne.
But, while there are many great things about living in Melbourne, like any other city, it also has its share of drawbacks. In this Redfin article, we’ll explore both the pros and cons of living in Melbourne, FL, and if this charming and vibrant city is a good place to live for you? Read on to find out.
Pros of living in Melbourne, FL
1. Warm climate
Melbourne is famous for its warm and sunny climate. The city has a subtropical climate that is characterized by hot, humid summers and mild winters. With an average of 234 sunny days per year, Melbourne’s weather is ideal for outdoor activities, especially water-based activities such as swimming, boating, and fishing. The city’s beaches, rivers, and lakes offer opportunities for water-based activities year-round.
2. Beautiful beaches
Living in Melbourne means you have easy access to beautiful beaches, perfect for a relaxing day out or a fun-filled weekend. The city’s long coastline boasts miles of pristine beaches that are well-maintained and offer a range of amenities, including showers, restrooms, picnic areas, and playgrounds.
One of the most famous beaches in Melbourne is the Cocoa Beach, which is known for its warm, crystal-clear waters and powdery white sand. It’s an ideal spot for swimming, sunbathing, and surfing.
3. Low cost of living
One of the significant advantages of living in Melbourne is the low cost of living, allowing residents to enjoy a comfortable lifestyle without breaking the bank. Compared to other cities in Florida, Melbourne offers affordable housing, transportation, and other basic amenities. Housing costs are relatively low, with a median sale price of $331,250 in Melbourne as of March 2023, nearly $70,000 below the national median.
4. An incredible food scene
“Melbourne has an incredible food scene with many family-owned restaurants, featuring unique craft dishes,” shares Halim Urban, Tour Director at Village Food Tours. “Ranging from fine-dining seafood restaurants to burger shacks, and barbecue joints. Overwhelmed with all of the amazing options? You can always join award-winning Village Food Tours on a culinary adventure.”
5. Things to do
“There are several amazing activities on the Space Coast. Fishing, golfing, kayaking, and days on the beach, all followed by seafood eats,” says Halim Urban. “The Brevard Zoo is one of the best in the country. Parks and downtown areas with boutique and antique shops, concert venues, and historical playhouses.”
Melbourne is also located close to other popular destinations in Florida, such as Orlando and Miami. This makes it easy to take day trips or weekend getaways to other parts of the state.
Cons of living in Melbourne, FL
1. Hurricane risk
Melbourne is located on the east coast of Florida, which means it’s at risk of hurricanes. It’s important to be aware of the hurricane season, which runs from June to November. While the city has a strong infrastructure to handle these natural disasters, residents should be prepared with emergency supplies and have a plan in place. Some insurance providers may also charge higher premiums for homes in hurricane-prone areas. It’s important to note that not all hurricanes make landfall in Melbourne, and the city has experienced only a few major storms in recent history. However, residents should still take the threat seriously and stay informed through local news and weather reports.
2. Wildlife encounters
Melbourne is home to a diverse array of wildlife. While some residents may appreciate the chance to encounter these creatures, others may find it disconcerting. Alligators, for instance, are a common sight in the area’s many lakes, rivers, and wetlands, they can be dangerous if provoked. Similarly, snakes and insects, such as mosquitoes and palmetto bugs, are also prevalent in the area. While many people learn to coexist with these creatures, others may find it difficult to adjust to their presence. It’s important to take precautions when dealing with wildlife, such as keeping a safe distance and seeking professional help if needed.
3. Traffic
Melbourne can experience heavy traffic during peak tourist seasons, especially on the roads leading to popular attractions such as the beaches or Kennedy Space Center. Commuting during rush hour can also be a challenge, particularly on major roads like Interstate 95 and U.S. Route 1. However, compared to larger cities like Miami or Orlando, the traffic in Melbourne is generally considered manageable. Locals often suggest planning routes in advance and allowing extra time for travel during peak periods.
4. Humidity
Melbourne’s location in the southeastern part of the United States, coupled with its proximity to the ocean, means that humidity is a significant factor in the city’s climate. While some people find the high humidity levels uncomfortable, others may appreciate the benefits it can bring. It’s important to prepare for the humidity if you plan on living in Melbourne, especially during the summer months when humidity levels can be particularly high.
5. Limited public transportation
Melbourne’s public transportation system is not as extensive as some other major cities in the US, making it a challenge for people who rely on public transportation to get around. The public transportation system primarily consists of buses, with limited options for train or subway services. For those who prefer not to drive, this can be a disadvantage, as they may have difficulty accessing certain areas of the city.
Is Melbourne a good place to live? Final thoughts
Melbourne, FL, is a great place to live for people who love warm weather, beautiful beaches, and a laid-back lifestyle. While there are some drawbacks to living in Melbourne, the benefits far outweigh the cons. If you’re thinking about moving to Melbourne, be sure to consider these pros and cons to help you determine if you should be calling Melbourne your next home.
Hong Kong
CNN
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China’s state security authorities raided multiple offices of international advisory firm Capvision, state media reported Monday, part of a broader crackdown on the consulting industry as Beijing tightens control over what it considers sensitive information related to national security.
Officers raided Capvision’s office in the eastern city of Suzhou, questioned its employees and searched office devices, a Jiangsu provincial television station reported Monday. The company was a so-called expert network, which connected its clients with people who provided specialist knowledge, largely in mainland China.
The report did not give an exact date of the raid, but said it was part of a coordinated, nationwide operation carried out simultaneously targeting the company’s branches in cities including Beijing, Shenzhen as well as Shanghai, where Capvision was founded in 2006.
The consultancy firm, which is headquartered in Shanghai and New York, adds to a growing list of global consulting companies that have been ensnared in Beijing’s widening crackdown on what it perceives as national security risks.
Over the past weeks, Chinese authorities have questioned staff at the Shanghai office of US consultancy Bain & Company, and closed the Beijing office of Mintz Group, an American corporate due diligence firm, while detaining five of its local staff.
State security police said Capvision frequently contacted personnel with access to classified information in the Chinese Communist Party and the government, as well as in industries such as national defense and science, according to the Jiangsu TV report.
Police also accused Capvision of hiring consulting experts with “high remuneration to illegally obtain various types of sensitive data” and “posing a major risk” to China’s national security, the report said.
Capvision said on its official WeChat account on Monday it would “firmly implement national security development” and “take a leading role in regulating the consultancy industry.”
CNN has reached out to Capvision for comment.
A former client of Capvision, who works in due diligence in Hong Kong, told CNN the raids took place late last year.
“Everybody is worried about what’s going on,” said the source, who requested anonymity due to the sensitivity of the issue. “Things have just been getting worse and worse and worse [for the consulting industry].”
The American Chamber of Commerce in Shanghai said Tuesday it was concerned by recent reports about investigations of US due diligence and consulting companies in China.
“It would be helpful if the authorities would more clearly delineate the areas in which companies can or cannot conduct such due diligence,” its President Eric Zheng said.
The recent raids have raised alarms in the international business community, at a time when the Chinese government is trying to woo foreign investment to help revitalize a slowing economy after three years of self-imposed Covid isolation.
“Clamping down against foreign companies, and raids, are going to make it harder for Beijing to convince foreign executives that not only is China a safe place to do business, but a good place to do business and grow, and a place for opportunity,” said Shehzad Qazi, chief operating officer and managing director of data and advisory firm China Beige Book.
Companies “are now starting to see that their actual operations on the ground are getting interfered with and interrupted,” he added. “So I think it’s certainly raising a lot of alarm bells, and it’s creating a lot of concern.”
The legal risks for foreign companies to operate in China are growing.
Last month, China broadened the scope of its already sweeping counter-espionage law to expand the definition of espionage from covering state secrets and intelligence to any “documents, data, materials or items related to national security and interests” — a move that further spooked foreign businesses.
The consulting industry in particular has fallen into the crosshairs.
The Jiangsu television report said some companies in the fast growing industry have ignored national security risks and failed to fulfill their responsibilities and obligations of counterespionage.
State security authorities will strengthen law enforcement against illegal consulting activities that endanger national security based on the counter-espionage law, police told the TV station.
In a separate report Monday, Chinese state broadcaster CCTV said national security authorities had found in multiple investigations that overseas institutions have used domestic consulting firms to steal state secrets and intelligence on China’s key areas.
In the report, Capvision was singled out as a “leading company” in the industry.
Started by former Bain consultants and Morgan Stanley investment bankers, Capvision offers consultations to over 2,000 clients and boasts a network of more than 450,000 experts, according to its website.
The former client of Capvision described the company as the “top name” in expert networks in China.
According to the former client source, Capvison charges just over $1,000 per hour for speaking with an expert in its network, and keeps the majority of the fee.
“It’s a key Chinese intermediary providing research services,” he said. “They’re the biggest fish in the space.”
“From an investing perspective, it’s a watershed moment…The whole information environment [in China] has kind of frozen up now,” he added.
The CCTV report said some consulting firms have “lured and deceived” experts in sensitive industries into providing internal secrets and eventually becoming “accomplices” for foreign forces to obtain state secrets and intelligence.
State security investigations found that Capvision accepted a large number of consulting projects from overseas companies – including some firms with close ties to foreign governments, military, and intelligence agencies – on industries sensitive to China, the report said.
A senior researcher at a state-owned company who worked as an expert for Capvision was sentenced to six years in prison for providing “state secrets and intelligence” to foreign forces, according to CCTV.
The researcher, who held a position in his company with access to privileged information, was not allowed by his company to do external part-time work, according to the report. But he accepted Capvision’s offer in 2015 and conducted more than 100 consultations since, with 60% of them for foreign clients.
According to state security police, he downloaded 5,000 documents from his state-owned company’s internal network. Among them, three were designated “state secrets” by authorities, while another 13 counted as “intelligence” and 18 were considered “commercial secrets.”
Another Capvision expert, a former employee of a Chinese military enterprise, was accused of “leaking sensitive information in the military industry” to foreign forces, CCTV said.
The expert started working for Capvision in early 2020. In one consultation, he was asked about the number of a specific type of military aircraft that China keeps, he said in the report. The authorities said he had provided clients with six pieces of information that were classified as state secrets, CCTV said.
Jon Silversides, partner at property consultancy and estate agents Carter Jonas’ Oxford office has delivered on his promise to ‘go blond’ in aid of local charity Special Effect.
As the evidence shows, having recovered sufficiently from his 17 year old son’s haircutting the peroxide has now been applied. He’s a Silversides in more than name until his barnet grows back.
Jon in more normal times
Jon said: ‘Although I’m slightly worried what some of our more traditional clients will think especially when it starts growing out in a couple of weeks, nevertheless it seemed like an apt time to go ahead.
“Why apt? As we’ve all bemoaned the lack of cappuccinos, haircuts, pubs and social contact during lockdown, most of the children that Special Effect help are in long term lockdown of one version of another, either through illness of disability.
With one of the charity’s main events, the Twin Town Challenge, postponed until 2021, I’m hoping that we can continue to raise money, even if it involves looking somewhat stupid for a few weeks.”
Established in 2014, the Twin Town Challenge takes place every two years. To date the event has raised more than £850,000 for SpecialEffect. Twin Town 2020 was supposed to the final event when Organiser Brendon Cross and his team hoped to have taken the fundraising total to over £1m for SpecialEffect.
Since 2014, the event has attracted teams from a wide range of backgrounds, but this year the event has had to be cancelled due to the Coronavirus Pandemic.
If anyone wishes to support Special Effect donations can be made via the team’s original fundraising page: www.justgiving.com/fundraising/carter-jonas1
Welcome to the exciting world of homeownership in Texas. Whether you’re a first-time homebuyer or an experienced real estate investor, buying a home in the Lone Star State is a thrilling experience. Texas is renowned for its warm and welcoming communities, rich cultural diversity, and thriving economy that provides endless opportunities for growth and prosperity. With a wide range of housing options, from spacious suburban homes in Austin to beautiful city condos in Dallas and charming rural properties, there is something for every lifestyle.
If you’re ready to embark on a journey toward homeownership, Redfin is here to help. With the proper guidance and research, you’ll be a Texas homeowner in no time.
What’s it like to live in Texas?
Living in Texas is a unique and exciting experience that offers a perfect blend of warm hospitality, rich cultural diversity, and thriving economic opportunities. The state is known for its friendly people, who welcome newcomers with open arms and make them feel at home. Residents can enjoy a dynamic urban lifestyle with world-class entertainment, cultural events, and excellent dining options. Texas also boasts beautiful natural landscapes, such as the Hill Country, Big Bend National Park, and Gulf Coast beaches, providing ample opportunities for outdoor recreation. Check out this article to learn more about the pros and cons of living in Texas.
An overview of the Texas housing market
The Texas housing market is rich in diversity, with plenty of options to suit different budgets and lifestyles. Due to the state’s thriving economy, low cost of living, and a growing population, Texas has become a magnet for buyers and investors, which has resulted in median sale prices climbing steadily in recent years. However, due to the recent hike in mortgage rates, the market has experienced a slight decline, with median sale prices dropping by 2.5% to $341,300 and competition slowing down. Nonetheless, it’s worth noting that Dallas and Houston continue to be among the top 10 places homebuyers move to when relocating.
Finding your perfect location in Texas
When deciding where to live in Texas, there are so many great cities, neighborhoods, and communities to choose from. To make an informed decision, you’ll want to consider proximity to work/school, access to public transportation, parks, restaurants, and shopping centers. Location is also crucial to your property’s resale value and appreciation potential.
To help you get started, here are some of the most popular cities in Texas, including market insights. And if you find your interest between two cities, fear not. Tools like a cost of living calculator can help you find a city within your budget.
#1: Austin, TX
Median home price: $535,000
Austin, TX homes for sale
Welcome to the charming city of Austin, also known as the “Live Music Capital of the World. This vibrant and creative city celebrates its cultural roots with a unique blend of big-city amenities and small-town charm. With its laid-back and welcoming atmosphere, living in Austin is an experience like no other.
You’ll fall in love with Austin’s thriving tech industry, world-class universities, breathtaking parks, and expansive lakes like Lake Travis and Lady Bird Lake. Though the city’s popularity has led to some challenges, such as rising housing costs and traffic, don’t worry. Austin still has plenty of charming, affordable suburbs to explore and call home.
#2: Dallas, TX
Median home price: $384,990
Dallas, TX homes for sale
Living in Dallas offers a unique blend of big-city amenities and Southern charm. Known as the “Big D,” Dallas is a bustling metropolis offering diverse neighborhoods, from trendy urban areas to affordable suburbs. The city boasts world-class museums such as the Dallas Museum of Art, which is one of the largest art museums in the country, and historic theaters like the Majestic Theatre which hosts a variety of performances including concerts and comedy acts.
Additionally, Dallas has a lively sports scene that includes professional football teams like the Dallas Cowboys, basketball teams such as the Dallas Mavericks, baseball teams such as the Texas Rangers, and soccer teams like FC Dallas. If you’re a sports enthusiast, Dallas may be the perfect city for you to cheer for.
#3: Houston, TX
Median home price: $330,000
Houston, TX homes for sale
Living in Houston offers an abundance of activities to explore, from indulging in the local food scene to immersing oneself in the city’s cultural events. The annual Houston Livestock Show and Rodeo is a must-see, drawing millions of visitors as the largest rodeo in the world. And for sports lovers, rooting for the Houston Astros and Houston Rockets is a must if you’re in town. Houston also boasts a thriving economy and a low cost of living, 9% less expensive compared to Austin, to be exact. Although the closer to downtown you are, the housing prices will go up, so if you’re looking to stay within budget, consider these affordable Houston suburbs.
#4: San Antonio, TX
Median home price: $274,383
San Antonio, TX homes for sale
San Antonio, a city rich in Texan heritage, boasts of historical landmarks like the iconic Alamo and festivals like the Fiesta San Antonio that pay homage to its past. The city’s vibrant food scene is a must-try, featuring Tex-Mex cuisine and local delicacies like barbacoa and breakfast tacos. The warm climate and various outdoor recreational activities such as hiking, fishing, and water sports make great reasons to move to San Antonio. To learn more about the charming neighborhoods in the city, check out this article on the most affordable San Antonio suburbs.
#5: Fort Worth, TX
Median home price: $335,000
Fort Worth, TX homes for sale
Fort Worth is an attractive option for families and young professionals due to its lower cost of living compared to other popular cities in Texas. With a cost of living 7% lower than Dallas, it’s easy to see why people are drawn to the city. Additionally, there are several affordable suburbs that offer a high quality of life, excellent schools, and easy access to the city’s amenities. If you’re new to living in Fort Worth, exploring the different districts is highly recommended. Start with the Fort Worth Stockyards, a historic district that celebrates the cattle industry with rodeos, cattle drives, and western-themed shops. Then, head over to the Fort Worth Cultural District, which features several museums such as the Kimbell Art Museum and the Amon Carter Museum of American Art. With so much to explore, Fort Worth is a charming city that is sure to leave a lasting impression.
To learn more about popular Texas cities, check out this article on the fastest-growing cities in Texas.
The homebuying process in Texas
If you have your heart set on Texas as your state of choice and have pinpointed your desired location, it’s time to explore buying a home in that area.
1. Get your finances together
Getting your finances in order before purchasing a home in Texas is crucial to ensure a smooth and successful homebuying experience. Buying a home is a significant financial commitment, and it’s essential to clearly understand your current financial situation. This includes checking your credit score, saving for a down payment, and calculating your monthly expenses to determine a realistic budget for mortgage payments. Tools like an affordability calculator can also guide you in the right direction. By getting your finances together, you can set yourself up for success and make your dream of homeownership in Texas a reality.
There are various programs available for first-time homebuyers in Texas, including the TDHCA: My First Texas Home, which can assist with a down payment of up to 5% of the loan amount. Acquiring knowledge about these programs can significantly enhance your home purchasing journey.
2. Get pre-approved from a lender
One of the most important steps you can do for yourself is to get pre-approved for a mortgage loan. This involves submitting a mortgage application to a lender, who will review your financial history, credit score, and other factors to determine how much they are willing to lend you for a home purchase. By obtaining pre-approval, you can get a clear idea of your budget for home shopping and make more informed decisions about which properties to consider.
3. Connect with a local agent in Texas
Working with a local Texan real estate agent is a must when buying a house in Texas. Texas is a large state with diverse housing markets, and local agents have extensive knowledge about their specific area’s real estate market, trends, and neighborhood information. Whether you’re working with a real estate agent in Austin or an agent in Houston, they can provide valuable insights on specific areas that fit your lifestyle and preferences, such as schools, amenities, and commute times. Additionally, local real estate agents can help you navigate the complex homebuying process in Texas, including property search, offer negotiation, and closing.
4. Search for homes
When touring homes in Texas, there are several key things to look for. First, pay attention to the home’s overall condition, including the roof, foundation, and major systems like heating and cooling. Additionally, check for any signs of damage, such as water stains, cracks, or leaks. It’s also important to consider the layout and functionality of the home, including the number and size of bedrooms, bathrooms, and living spaces. By considering these factors when touring homes in Texas, you can make an informed decision and find the perfect home for you.
5. Make an offer
Several factors come into play when making an offer on a home in Texas. The offer includes the purchase price you are willing to pay, any contingencies or conditions of the sale, and the proposed timeline for closing the transaction. Additionally, you may include an earnest money deposit to show your commitment to the purchase. The offer will also specify the closing date, typically 30-45 days after the offer is accepted. The seller will review the offer and decide whether to accept, reject, or counter the terms proposed. By crafting a strong offer, you increase your chances of success in the homebuying process in Texas.
6. Close on the house
The closing is a crucial step in the homebuying process in Texas, where the final transfer of ownership occurs, and you become the legal owner of the property. During the closing, you will sign all the necessary paperwork, pay the closing costs, and receive the keys to your new home. It’s essential to review all documents carefully, including the settlement statement and loan documents, to ensure that all terms and conditions are correct before signing. The closing is also an opportunity to ask any final questions and clarify any concerns you may have before finalizing the purchase.
If you are a first-time homebuyer, Redfin’s comprehensive First-Time Homebuyer Guide can be an invaluable resource to help you gain a deeper understanding of the entire homebuying process.
Factors to consider when purchasing in Texas
It’s essential to remember the unique aspects of purchasing a property in Texas, such as available loan types, taxes, insurance, and disclosures.
The climate in Texas can be extreme
Before purchasing a house in Texas, it’s important to take the state’s climate risk and weather into account. The weather in Texas is characterized by high temperatures and humidity, particularly in the summer season. On average, utility costs in Texas come to $402, which is why it’s advisable to opt for energy-efficient windows, insulation, and air conditioning systems to keep your home cool and reduce energy expenditure.
Texas is also prone to severe weather events such as tornadoes, hurricanes, and hailstorms, which can cause significant damage to homes. It’s essential to factor in climate risk and the potential cost of repairs and insurance coverage to protect your investment.
Dual Agency is not permitted
Dual agency is not allowed in Texas when one real estate agent represents both the buyer and the seller in a transaction. The state follows the principle of “agency,” which means that a real estate agent must represent either the buyer or the seller exclusively and not both. This is because the interests of the buyer and seller can often conflict, and each party must have representation.
Seller disclosures are required
In Texas, seller disclosures are required when buying a house. This means that the seller must legally disclose any known defects or issues with the property to the buyer before the sale is finalized. The Texas Real Estate Commission provides a standard form for seller disclosures, which covers the property’s condition, past repairs or renovations, known environmental hazards, and any outstanding liens or easements. It’s important for buyers to carefully review these disclosures before finalizing the sale, as they can provide critical information about the condition of the property and any potential issues that may need to be addressed.
Homestead exemption
The Homestead Exemption program provides a tax break to homeowners on their primary residence in Texas. It works by reducing the property’s taxable value, which in turn lowers the property taxes that the homeowner must pay. To be eligible for the Homestead Exemption, the homeowner must have owned and occupied the property as their primary residence on January 1st of the tax year. They must also apply with their local county appraisal district to claim the exemption. In addition to providing tax relief, the Homestead Exemption also offers some protection to homeowners by limiting the amount their property taxes can increase yearly.
Property taxes are high
Texas holds the sixth position in the country for having high property taxes. Local government entities set the rates, which vary widely depending on the property’s location. According to recent data, Texas has one of the highest property tax rates in the country, with an average rate of around 1.74% of the home’s assessed value. This can add up to a substantial expense for homeowners, especially those with higher-priced homes. However, it’s important to note that Texas does not have a state income tax, which can offset some of the impacts of the property tax rates.
Buying a house in Texas: Bottom line
Buying a house in Texas can be an exciting and rewarding experience. However, it’s essential to be prepared and informed about the unique aspects of the homebuying process in the Lone Star State. From considering the climate and location to working with a local real estate agent and getting pre-approved, there are many factors to consider when embarking on this journey. Additionally, with Texas having one of the highest property tax rates in the country, it’s crucial to factor this into your budget and explore any available tax relief programs. By taking these steps, you can increase your chances of finding the perfect home in Texas and making your homeownership dreams a reality.
Buying a house in Texas FAQ
How much income do you need to buy a house in Texas
The amount of income you need to buy a house in Texas can vary depending on several factors, such as the location, home price, down payment, credit score, and debt-to-income ratio. In general, lenders usually recommend that your monthly housing expenses, including mortgage payments, property taxes, and insurance, should not exceed 28% to 36% of your gross monthly income. For example, if you earn a monthly gross income of $6,000, your recommended maximum housing expenses would be between $1,680 and $2,160. However, it’s important to note that these are just general guidelines, and you should consult a lender to determine your specific affordability and financing options.
Is buying property in Texas worth it?
Whether buying property in Texas is worth it depends on individual circumstances and preferences. However, Texas is generally considered a great place to invest in real estate due to its growing economy, population, and job market. Texas also has relatively affordable home prices compared to many other states, although property taxes can be high. Buying property in Texas can be a wise investment, but it’s important to consider factors such as location, financing options, and long-term goals before deciding.
How much deposit is needed to buy a house in Texas?
The deposit amount needed to buy a house in Texas can vary depending on the lender and the type of loan. Generally, a down payment of at least 3% to 20% of the home’s purchase price is required. For example, if you buy a $250,000 home, a down payment of $7,500 to $50,000 would be needed. However, some first-time homebuyer programs in Texas offer down payment assistance, which can lower the required money upfront. Working with a lender and a real estate agent is essential to determine the specific deposit requirements for your situation.