Connect with us

Published

on

Homeowners in San Francisco looking to sell in the troubled city are a whopping four times more likely than the average US home seller to take a loss, according to real estate brokerage Redfin.

Residents looking to get out of the city — where a once-trendy downtown area has descended into a drug-addled hellscape, and historic hotels have been converted into roach-infested “Single-Room Occupancy” housing for vagrants — can expect to sell their San Francisco abode for $100,000 less than they bought it for.

Roughly 12.3% — or one in eight — of the homes sold in the Bay Area during the three months ended July 31 was purchased for less than the seller bought it for, Redfin found.

The figure is a 5% increase from the same period a year ago, is higher than any other major US metropolis and a staggering four times the 3% national rate of homeowners who take a loss when selling their homes, according to the real estate firm.

Detroit is home to the second-highest share of homeowners who take a loss in their home-selling transactions, at 6.9%, followed by Chicago and New York, where 6.5% and 5.9% of homeowners take a loss in selling their homes, respectively.

Though the share of New York homeowners who reported a loss was half that in San Francisco, the cities were tied for the largest median loss in dollars, at $100,000, Redfin found in a separate analysis.

Thus, it’s not a surprise that San Francisco, Detroit, Chicago and New York all rank among the top 10 cities Redfin found residents want to move out of.

San Francisco ranks No. 1, New York No. 2, Chicago No. 5 and Detroit No. 9, according to Redfin.

Across the US, the average homeowner who didn’t profit off of selling their home lost $35,538, according to Redfin, which analyzed Multiple Listing Service data across the top 50 US cities of homes that were owned by the same party for at least nine months before the sale.

States where homeowners were least likely to sell at a loss: San Diego, Boston, Providence, R.I., Kansas City, Mo., and Fort Lauderdale, Fla.

In each of these cities, only about 1% of homes sold for less than the seller originally paid, Redfin reported.

Redfin attributed San Francisco’s unfortunate housing stats to a sharp decline in home prices triggered by high mortgage rates, which climbed to their highest level since 2001 last month.

As of April, the city’s median home price was down over 13% year over year — triple the nationwide slowdown of 4.2% — swiping a whopping $60 billion in the total value of homes since last year.

In addition, home prices in the Bay Area fell because the metro area was hit hard by mass layoffs in the tech sector, Redfin said.

Major tech firms based in San Francisco like Apple, Google, Meta and Salesforce all conducted rounds of layoffs within the past year.

In one of the largest layoffs San Francisco saw in recent months, Meta sacked 21,000 employees as part of Mark Zuckerberg’s so-called “year of efficiency.”

Salesforce also axed some 7,000 staffers — 10% of its workforce — at the beginning of this year after rapid pandemic-era hiring left the company with “too many people” amid an economic slowdown.

And late last year, Elon Musk infamously slashed his staff at Twitter, now known as X, in half, handing nearly 4,000 workers pink slips.

Continue Reading

Environment

Kia’s electric van breaks the Guinness World Record, driving 430+ miles carrying a full load

Published

on

By

Kia's electric van breaks the Guinness World Record, driving 430+ miles carrying a full load

Kia’s electric van, the PV5, set a new Guinness World Record after driving over 430 miles on a single charge… with its max payload.

Kia’s electric van sets a new Guinness World Record

Who said electric vans couldn’t get the job done? Kia’s electric van just broke the Guinness World Record for the greatest distance travelled by a light-duty battery-powered electric van with maximum payload.

Powered by a 71.2 kWh battery, the Kia PV5 Cargo drove 430.84 miles (693.38 km) on a single charge. Even more impressive, it was carrying a full load. The electric van lasted nearly two days, covering 22 hours and 30 minutes of driving without charging.

Kia’s record-breaking run took place on September 30, 2025, in Frankfurt, Germany, using an unmodified PV5 Cargo L2H1 model.

Advertisement – scroll for more content

The route was specifically designed to replicate real-world scenarios. Kia said the electric van covered over 36 miles (58.2 km) in the city, navigating traffic lights, intersections, and roundabouts, with typical city traffic. It also achieved an elevation gain of about 1,200 ft (370 meters).

Kia-electric-van-world-record
Kia PV5 Cargo sets new Guinness World Record

Kia’s electric van completed the loop 12 times while carrying its max payload, finally coming to a stop on the twelfth run.

“Even if Kia is new to the LCV market, this record is a testament to the versatility and innovation behind Kia’s first PBV, showing that we are serious contenders,” Kia’s European boss, Marc Hedrich, said.

Kia-electric-van-world-record
Christopher Nigemeier, Senior Engineer at Hyundai Motor Europe Technical Center, in the PV5 during the GUINNESS WORLD RECORD attempt (Source: Kia)

The fact that it ran for almost two full working days on a single charge, “speaks volumes about its real-world capabilities,” Hedrich added.

According to Kia’s internal tests, adding 220 lbs (100 kg) of payload reduces the PV5’s range by only around 1.5%.

Kia-electric-van-world-record
Marc Hedrich, President & CEO at Kia Europe (left), with Joanne Brent, GUINNESS WORLD RECORD adjudicator (right) Source: Kia

The PV5 is a midsize electric van and Kia’s first dedicated model from its new Platform Beyond Vehicle (PBV) business. It’s built on Hyundai’s E-GMP.S architecture. The flexible EV platform supports several variants.

Kia currently sells the PV5 in Passenger (for personal use) and Cargo (for businesses). Over the next few years, it plans to introduce seven body types, including Light Camper, Wheelchair Accessible, and open-bed models.

The PV5 Cargo offers up to 4.4 m3 of load space and a max payload of 1,740 lbs (790 kg). It’s available with two battery pack options: 51.5 kWh or 71.2 kWh, with WLTP driving ranges of 184 miles and 258 miles, respectively.

Kia plans to launch additional electric vans, including the larger PV7 in 2027 and the even bigger PV9, due out around 2029.

FTC: We use income earning auto affiliate links. More.

Continue Reading

Technology

Palo Alto Networks debuts automated AI agents to fight cyberattacks

Published

on

By

Palo Alto Networks debuts automated AI agents to fight cyberattacks

Nikesh Arora, CEO of Palo Alto Networks, looks on during the closing bell at the Nasdaq Market in New York City on March 25, 2025.

Jeenah Moon | Reuters

Palo Alto Networks on Tuesday launched new artificial intelligence agents that allow customers to automate certain cybersecurity actions.

The new agents, known as Cortex AgentiX, can handle threat intelligence investigations, respond to email breaches and can be deployed across various security vendor platforms. The tools will be available starting Tuesday through several of Palo Alto’s current cloud services, and will launch as a separate platform next year.

The new AI agents are meant to meet growing demand from customers for more automated capabilities, CEO Nikesh Arora told reporters and analysts last week. Most agents, he added, will have a human middleman to review.

In the age of AI, companies are racing to find new methods to fight increasingly sophisticated and complex cyberattacks. Earlier this month, cybersecurity firm F5‘s stock dropped 10% after it said it suffered a nation-state hack.

Arora said he’s concerned that some enterprises are still “under the illusion that they are extremely secure.”

Palo Alto Networks is in the midst of a watershed shake-up as it integrates its $25 billion acquisition of Israeli identity security vendor CyberArk.

Shortly after the news broke, Arora told CNBC that the deal integrates CyberArk with Palo Alto’s AI and security aspirations.

“We look for great products, a team that can execute in the product, and we let them run it,” he said.

WATCH: AI is changing the world, cybersecurity has to keep up, says Palo Alto Networks

AI is changing the world, cybersecurity has to keep up, says Palo Alto Networks

Continue Reading

Politics

Trump’s Truth Social moves into prediction markets with Crypto.com

Published

on

By

Trump’s Truth Social moves into prediction markets with Crypto.com

Trump’s Truth Social moves into prediction markets with Crypto.com

Truth Social wants to “democratize information” for its 6.3 million users with a social media prediction platform developed in collaboration with Crypto.com.

Continue Reading

Trending