(from CNBC.com)
Sometimes I wish AI would focus less on changing the world and more on folding my laundry.
A CBRE report found that the number of tech workers with AI skills in the U.S. and Canada jumped more than 50% from mid-2024 to mid-2025, now topping 517,000 people. Most of them are clustering in the Bay Area, New York, Seattle, Toronto, and D.C., where AI firms (and financial services companies chasing the same talent) are on a hiring binge.
Unlike other tech jobs that went remote, AI is very much an in-office grind, which has juiced demand for office space. In San Francisco, 1 in 4 square feet leased recently went to an AI company. But the bigger ripple? Apartment rents are climbing in these AI hubs, as well-paid workers can still afford pricey markets without breaking the 30%-of-income affordability rule.
From 2021 to 2024, Manhattan rents rose over 14%, D.C. jumped 12%, Seattle was up 7%, and San Francisco nearly 6%.
If AI is the new gold rush, landlords in these cities are already cashing in. Anyone else worried about an AI bubble?
Read more here
$20,000,000,000,000
(from Finance.Yahoo.com)
America’s housing market just pulled off a jaw-dropping flex: it gained $20 trillion in value in just five years, ballooning to a record $55 trillion, according to Zillow.
That’s a 57% jump since 2020, even with high mortgage rates keeping a lot of buyers on the sidelines.
But the wealth surge isn’t spread evenly. New York is on fire, adding $216 billion in value last year alone, while pandemic darlings Florida, California, and Texas actually lost billions as buyers cooled on sunshine states weighed down by soaring insurance costs, higher taxes, and climate risks.
In places like Florida, some deals are falling apart once insurance quotes hit the table. Meanwhile, new construction is bailing out parts of the Sun Belt, with Texas and Florida ranking among the top states where freshly built homes are keeping valuations afloat.
America’s housing market is still insanely valuable… but depending on where you live, it’s either breaking records or breaking hearts.
Read more here
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