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What you want to know about real estate. A section of @thisisinsider . Follow us on Facebook, Instagram, and YouTube. Visit our homepage for today's top stories.
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🏠 At nearly 50, Marika Pfefferkorn was doing something she never expected: Sharing a bathroom with a 17-year-old boy.
"It's a co-parenting model, it's a co-economy model, and it's a really great friendship and support model," Pfefferkorn said. ⬇️
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Despite still being in elementary school, an Australian girl is on her way to retiring as a millionaire at the tender age of 15. 💸
Here's how. 👇
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📚 Many influential business figures, including
@JeffBezos
,
@ElonMusk
, and
@BillGates
. say they learned some of their most important lessons from books.
Here are some that the tech giants recommended adding to your reading list this year. 👇
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🌇 Don't move just yet.
The work-from-home era is giving the US a chance to build entirely new cities,
@mattkahn1966
says — ones that better serve the needs and wants of a new breed of workers.
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With the help of her mother, 10-year-old Pixie Curtis founded the toy company Pixie's Fidgets. 🧸
It launched last year, and the toys sold out in the first 48 hours.
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As homebuyer activity becomes increasingly frigid, talk has been simmering for months about the possibility of the entire US real estate market imploding.
Here’s why it’s affecting Gen-Z homebuyers. ⬇️
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Meanwhile, California's population dropped for the first time since its founding in 1850, by 182,000. Californians likely left for Dallas, Las Vegas, or Phoenix.
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High-cost coastal cities have been losing more people to suburbs and smaller cities since about 2016.
The
#COVID19
pandemic turbocharged that trend.
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These companies are now a part of Pixie's Pix, which also sells other children's games and accessories.
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New York City lost a net 200,000 people, mostly from higher-income neighborhoods.
If those New Yorkers didn't move upstate, they may have gone to Florida, which is now home to 64,000 more Big Apple transplants.
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Pixie's mother, Roxy Jacenko, is the owner of several successful businesses, including
@sweatybettypr
.
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White-collar workers in the US are on the move after pandemic hiring freezes.
Here are five things to look out for when reading the job description, according to experts.👇
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Millions of house hunters in the US are losing out on bidding wars, and experts don't see that changing for a decade.
Here's why. 👇
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🎀 Pixie already has another business, Pixie's Bows, a hair accessory company that her mother set up when she was a baby.
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A record number of people are quitting their jobs — but leaving badly could harm your reputation.
Whatever the reason, it's in your best interests to make sure that you're doing it right.
Here’s how. 👇
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The rise of remote work is a chance to think big, Kahn says. Before March 2020, the geography of economic opportunity in America was limited.
Now, we can create “Remotevilles” to increase our menu of locational choices and improve our well-being.
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As some of the factors that contributed to the housing crash of the mid-aughts reemerge, it's no surprise that Gen-Z, a demographic experiencing the most challenges to homeownership, is rooting for an icy market downturn.
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📊 There's little question that the characters on
@Succession
are evil, entitled people willing to lie, cheat, backstab, kill, and steal to get their way.
They are also certifiable narcissists, experts say.
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Workers everywhere are quitting in droves.
But if you need to keep a job you don't like, there are ways to make sure it keeps you energized and growing.
Here’s how 👇
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So which area benefited from all the moving during the pandemic? The Sun Belt.
These moves are already reflected in the rising housing prices.
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👴🏼 Millennials are at peak homebuying age, but boomers aren't selling, instead opting to grow old in their homes.
Baby boomers, who are between 65 and 83 years old, hold more real-estate wealth than any other generation.
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Despite her success, her mother doesn't want Pixie to feel that she has to work for the company.
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🔎 Does your boss follow you on your social media?
Here are 5 quick tips to help keep your feeds appropriate.
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It was late afternoon on a chilly winter's day in New England when Christine Chitnis (
@ch_chitnis
) received a call from her contractor in northern Michigan. She could tell by the tone of his voice that he wasn't calling with good news.
Here’s why. ⬇️
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Some of Bezos' favorite books were instrumental to the creation of products and services like the Kindle and Amazon Web Services.
One of those is Walmart founder Sam Walton’s autobiography in which he recalls his career.
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📲 Pixie's story has gained her a large following on social media, amassing more than 100,000 followers on Instagram.
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Bezos’ "favorite business book" draws on six years of research from the Stanford University Graduate School of Business that looks into what separates exceptional companies from their competitors.
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Millennials are a big driver of this movement.
"Right now there's 5 million more people age 25 to 34 than there were 10 years ago," Jeff Tucker said. "That is the key tipping point age range when Americans go from being majority renters to majority homeowners."
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This Kazuo Ishiguro novel tells of an English butler in wartime England who begins to question his lifelong loyalty to his employer while on a vacation.
Bezos has said of the book, "Before reading it, I didn't think a perfect novel was possible."
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You have only minutes to impress a hiring manager.
Interviews can be daunting but with the right prep, you can own the room.
Insider spoke to career experts about hiring managers' pet peeves in interviews — and how to avoid them. 👇
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How can Remotevilles improve our lives?
To start, successful new towns will have residents with similar values and goals. That means residents are more likely to become friends and to engage in civic dialogue. A better local democracy is likely to form.
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🚧 Zoning laws keep new types of housing from being built.
Single-family homeowners — who are typically white, male, and older — tend to vote against new multifamily developments in their communities as a way of protecting the value of their property.
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In 2022, housing affordability has fallen to a three-decade low. The downturn stems from a combination of factors but mainly rising inflation and interest rates.
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Musk has also recommended several books on artificial intelligence, including “Superintelligence: Paths, Dangers, Strategies,” which considers questions about the future of intelligent life in a world where machines may become smarter than people.
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Gates has called Hans Rosling’s book on thinking patterns and tendencies that distort people's perceptions of the world, "one of the most educational books I've ever read."
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Bill Gates is known to make book recommendations quite often.
He said this is "the best business book I've ever read," when discussing "Business Adventures: Twelve Classic Tales from the World of Wall Street."
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Elon Musk's must-reads include a number of sci-fi novels.
He read "The Hitchhiker's Guide to the Galaxy" as a teenager, even saying the spacecraft in it is his favorite spacecraft from science fiction.
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The pandemic wasn't the only thing driving movement in 2020.
Immigration rates dropped across the country, mostly impacting major cities like New York and Los Angeles.
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For those feeling stuck, there are paths to greater job satisfaction that don't involve overhauling your life and career, but do involve reflection and self-evaluation.
Social psychologist Ron Friedman says it's about adopting a "mindset of curiosity."
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To learn more strategy tips from business experts with book recommendations and beyond, visit
@thisisinsider
. 👇
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A millennial who spent $20,000 on coffee in 12 years explains why it was worth it (via
@LaddersHQ
)
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The ultracompetitive housing market is propelled by a mix of potent factors:
📦 The pandemic-fueled desire to move and nest
📉 Record-low mortgage interest rates
🏚 A dearth of homes on the market
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Phoenix was once considered the epicenter of the housing crisis.
@Zillow
says it's now the fastest appreciating major housing market. And movers here often come with higher budgets that can price out locals.
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Pete Buttigieg ran his presidential campaign like a finely tuned business. 10 staffers share why they loved it.
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💼 Mentions of perks.
Perks, like happy hours and gyms, may hint at a culture "designed to keep you at work longer," says Carol Cochran, VP of people and culture for FlexJobs.
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💼 Gender-coded language.
“Independent.” “Champion.”
This could be "a clue as to the type of culture you'd be joining," said Renata Dionello, chief people officer at ZipRecruiter.
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After this CEO raised his company's minimum wage to $70,000, he said the number of babies born to staff each year grew 10-fold and revenue soared
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Before and after photos show how Amazon has completely transformed Seattle in a decade
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.
@TonyRobbins
shares 5 ways to instantly become richer
http://t.co/Rtlp6WsTUK
http://t.co/yF27IKucMH
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After all, market crashes have led to depreciating home values in the real estate market. This was the case in 2008, when a bursting housing bubble contributed to a global recession that triggered rapid price declines in the US.
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In a market like this, some prospective homeowners are willing to do whatever it takes.
A Phoenix resident said he was told he had to come with an offer that was at least $20,000 to $50,000 more than what was listed. Some make bids on homes they've never seen in person.
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SCOTT GALLOWAY: Now's the best time to start a business in over a decade. Here are the 4 industries I predict will soon explode. (via
@profgalloway
)
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.
@drtcp
, a professor of business psychology at University College London and Columbia University classifies Kendall (Jeremy Strong) as an "insecure narcissist," a very common type of narcissistic boss he says.
Think Michael Scott of "The Office."
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💼 Signs the company is in flux.
Elisa Nardi, an executive coach, says to look out for phrases like: "The job holder must be prepared to roll up their sleeves.”
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The housing market shows no signs of slowing, according to experts we spoke with. They warn the long-term impact of pandemic movement will depend largely on how long people can work from home.
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💼 If a job description doesn't tell you much, it's still telling you something.
A vague job ad can still help frame questions to ask in the interview, for example.
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Beyond the mishaps that have plagued home renovations, a perfect storm of economic problems — labor shortages, supply-chain delays, and inflation issues — have been slamming the housing market since the pandemic began.
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💪 Step one: Identify your strengths.
Once you've got a lead on what you're uniquely good at, like project management or talent development, figure out how to tweak your job so it allows those skills to shine.
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And the governments that emerge in these growing areas will not face legacy issues related to rigid public bureaucracy or long-standing infrastructure costs.
Civic leaders will have more freedom to experiment with ways to streamline and improve services.
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Social media has chipped away at the boundaries between personal and professional life.
It's now common for workers to follow, and be followed by, colleagues and even managers on social media.
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📱 Delete 'phases' of social media.
@drbenvoyer
, research chair at
@ESCP_bs
, uncovered a practice in China where young people delete their entire social media when they graduate “as a kind of rite of passage.”
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Logan rules Waystar Royco by turning everything into a twisted competition.
Logan is also a classic example of a malignant narcissist, according to Paul L. Hokemeyer, a clinical and consulting psychotherapist.
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This limits the creation of duplexes, multifamily developments, mobile homes, and any other housing solutions that are more affordable and geared toward people who want starter homes and downsizers.
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Even if boomers did sell their single-family homes, they would likely create additional competition elsewhere in the housing market by looking to buy a condo or rent an apartment, according to housing specialist Karan Kaul.
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Leaving a company on bad terms can impact your professional reputation.
"We live in a small world," said
@naeema_pasha
, director of careers and professional development at
@HenleyBSchool
and co-author of “Futureproof Your Career.”
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So if the anticipated generational turnover of housing isn't happening, more housing needs to be built to create supply that would balance demand.
But that isn't happening, either.
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Areas in the so-called "donuts" around major metros — places with enough space to create new and cheap housing while also providing reasonable access to good rail transit or easy, direct flights — will be more likely to foster Remotevilles, Kahn says.
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🤝 Stay professional, polite and prepare ahead.
Be articulate with your reasons for leaving, because it will allow both parties to move on once you've had the conversation, said
@jillcotton80
, careers advice expert at employer insight company
@Glassdoor
.
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Where would these new towns crop up?
Well, the first thing you need is land. There are millions of acres of fringe farmland located close to existing cities that could become home to remote workers.
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When Chitnis and her husband bought a 130-year-old property in northern Michigan in September 2020, she thought they’d be moving in by June 2021.
Now, near the end of summer 2022, they have about six months to completion.
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Tom Wambsgans (Matthew Macfadyen) is a codependent narcissist,
@DoctorRamani
, a licensed clinical psychologist said.
He appears to derive his self-esteem from being a part of the Roy family and his marriage to Shiv.
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Students think employers value experience and high grades — but employers don't actually care about top grades, according to a 2021 report by
@brightnetwork
.
Here's how students can stand out. 👇
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SCOTT GALLOWAY: Half of America has its head up its ass. It's time for a vaccine mandate. (via
@ProfGalloway
)
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“Succession” revolves around the dysfunctional Roy family.
The patriarch, Logan Roy (Brian Cox), sadistically pits his four children against one another for the role of Waystar Royco CEO, the family media empire loosely based on Fox News and News Corp.
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However, despite Gen Z's expectations and a few bearish outlooks, the majority of experts maintain that prices are unlikely to plummet like they did before.
Instead they expect more of a gradual drop in prices to more sustainable levels.
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👷♀️ Even if regulations let up, there aren't enough workers in the US with the skill sets necessary to build homes.
After the Great Recession, housing construction slowed due to a glut of foreclosed homes with few buyers.
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Gay Cororaton,
@nardotrealtor
's director of housing and commercial research, said the US is also facing a two-month supply (how many months it would take for all the current homes for sale on the market to sell) when it should have a six-month supply.
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🔋 Step two: Conduct an energy audit.
Psychotherapist and leadership coach Sarah Greenberg encourages anyone feeling stuck in this way to track how they feel while doing different tasks.
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💼 Generic language.
Dionello says a well-written job description should make candidates feel comfortable that "what's going on inside the company is well structured and organized."
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Today's labor shortage — along with the lumber shortage and shipping delays — is stunting builders' ability to create more housing at a rapid enough clip to match demand.
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Narcissism is a spectrum, according to Charles O'Reilly, a professor at Stanford who's done extensive research on narcissists.
It's at the very high levels — the narcissistic waters where the Roys cavort — when it becomes quite dangerous, he said.
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Richard Branson says this simple trick is the 'million-dollar lesson they don’t teach in business school' (via
@LinkedIn
)
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🗣️ Tell your manager first.
Arrange a one-on-one with your manager, said Cotton.
Springing it on them two minutes before they leave for the day will seem thoughtless.
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With the help of five psychotherapists and experts, we break down the show's deeply flawed personalities and leadership styles to help you deal with the megalomaniacal, narcissistic bosses you might encounter IRL.
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In July 2020, Chitnis heard that her neighbor was selling a cottage a block from the lake in the same neighborhood as her parents.
With very little effort, the couple secured a "for sale by owner" transaction from the local bank.
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Steve Jobs believed this quality is what sets apart great leaders — and it reveals so much about his personality (via
@Inc
)
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We all have our own idiosyncratic criteria for ranking locations, but there are some commonalities.
Studies show that people gravitate to areas with appealing, predictable environments: warm winters, safety from natural disasters, clean air and water.
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