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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.

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US

Charlie Kirk posthumously awarded Presidential Medal of Freedom by Donald Trump

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Charlie Kirk posthumously awarded Presidential Medal of Freedom by Donald Trump

Charlie Kirk has been posthumously awarded the Presidential Medal of Freedom by Donald Trump.

The USA’s highest civilian honour was received by the conservative activist’s widow, Erika, at the White House.

Mr Kirk, 31, was fatally shot on 10 September while speaking at an event at Utah Valley University.

He founded Turning Point USA and toured American university campuses, debating students about current affairs.

Erika Kirk at the White House. Pic: Reuters
Image:
Erika Kirk at the White House. Pic: Reuters

Erika Kirk and Donald Trump. Pic: Reuters
Image:
Erika Kirk and Donald Trump. Pic: Reuters

Addressing those attending the ceremony in the White House rose garden, the US president said they were there to “honour and remember a fearless warrior for liberty” and a “beloved leader who galvanised the next generation”.

He said Mr Kirk’s name was being entered “forever into the eternal roster of true American heroes”.

Mr Trump described Charlie Kirk as an “American patriot of the deepest conviction, the finest quality and the highest calibre”.

He said his nation had been “robbed” of an “extraordinary champion”.

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Has Charlie Kirk become a MAGA ‘martyr’?

And Mr Trump said Mr Kirk was assassinated in the “prime of his life for boldly speaking the truth, for living his faith, and relentlessly fighting for a better and stronger America”.

The ceremony coincided with what would have been Mr Kirk’s 32nd birthday.

Mr Trump described Erika Kirk, now head of Turning Point USA, as someone who had “endured unspeakable hardship with unbelievable strength”.

Read more:
What do we know about Erika Kirk?
Charlie Kirk’s movement is growing in wake of his assassination

Charlie Kirk. File pic: AP
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Charlie Kirk. File pic: AP

A 22-year-old man, Tyler Robinson, from the city of Washington in Utah has been charged with Mr Kirk’s murder. Prosecutors said they would seek the death penalty.

At a memorial event held at a stadium in Arizona, Erika Kirk told an enormous crowd she forgave her husband’s killer.

“The answer to hate is not hate,” she said.

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Grammy-winning R&B and soul star D’Angelo dies after ‘prolonged battle with cancer’

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Grammy-winning R&B and soul star D'Angelo dies after 'prolonged battle with cancer'

Grammy-award winning R&B and soul singer D’Angelo has died following a battle with pancreatic cancer, his family has said.

He died on Tuesday, leaving behind a “legacy of extraordinarily moving music” following a “prolonged and courageous battle with cancer,” his family said in a statement.

The prominent musician, born Michael D’Angelo Archer, was 51 years old.

A family statement said: “We are saddened that he can only leave dear memories with his family, but we are eternally grateful for the legacy of extraordinarily moving music he leaves behind.

“We ask that you respect our privacy during this difficult time, but invite you all join us in mourning his passing while also celebrating the gift of song that he has left for the world.”

The singer rose to prominence in the 1990s with his first album, Brown Sugar.

The track “Lady” from that album reached No. 10 in March 1996 and remained on Billboard’s Hot 100 chart for 20 weeks.

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Entertainment

Stars of sumo head to London’s Royal Albert Hall – and noodles sell out

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Stars of sumo head to London's Royal Albert Hall - and noodles sell out

They’re getting through 70kg of rice a day and the wholesaler has run out of noodles. Yes, Sumo returns to London on Wednesday.

It’s just the second time a Grand Tournament has been held outside of Japan – and this is a sport that has records going back more than 1,500 years.

It’s 34 years since the Royal Albert Hall hosted the only previous such event on foreign soil – and the appetite for tickets meant all five days sold out immediately.

Much of the focus is on the two grand champions or yokozuna, the 74th and 75th men to attain the rank.

They’re the Mongolian Hoshoryu Tomokatsu, plus Japan’s Onosato Daiki – who this year became the quickest wrestler to achieve the rank in the modern era.

“I’m happy that Sumo is back after so many years,” Onosato said. “I hope I can show the UK fans how fantastic Sumo is.”

“Being a yokozuna has a lot of responsibility,” Hoshoryu told Sky Sports. “We have to show everyone an example of what a yokozuna is – and that’s very difficult.

“My uncle was a yokozuna – and I’m happy to follow in his footsteps. But I came here to London as a yokozuna which he didn’t, so I’m even happier.”

The two are already great rivals.

Onosato Daiki became the quickest ever to achieve yokozuna rank. Pic: AP
Image:
Onosato Daiki became the quickest ever to achieve yokozuna rank. Pic: AP

At the recent Aki Basho – the most prestigious tournament on the sumo calendar – the pair finished with identical records after 15 days of bouts.

It all came down to a final play-off between the two yokozuna – the first time that had happened in 16 years. It was Onosato who came out on top on that occasion.

Hoshoryu says he is a big fan of basketball and football. He follows Chelsea, although his favourite players are going back a bit: “Didier Drogba and Petr Cech. He’s the ‘keeper. I like this guy!”

Early starts and a hearty stew: The life of a rikishi

The wrestlers – or rikishi – have a rigorous training regime.

They live in communal blocks called stables and practice starts early. Perhaps surprisingly, everyone skips breakfast. After training and practice – and for the younger rikishi, chores – the wrestlers all eat together.

The staple of their diet is chankonabe, a hearty stew packed with meat and vegetables. The feeding of the 40 rikishi who have come over for the five-day tournament is a challenge in itself.

Donagh Collins, the CEO of co-organisers Askonas Holt, said: “We are going through 70 kilos of rice a day. Somebody told me that the wholesaler for the noodles has run out of noodles. We’re really pushing the system here.”

The ring – or dohyo – is just 4.55m in diameter and quite small when two giant wrestlers leap at each other.

The aim of the fights is to either get your opponent onto the floor – or, more spectacularly, shove or hurl them out of the dohyo, so spectators in the ringside seats may be getting extremely up-close to the wrestlers.

The last time the tournament was in Britain, the massive Konishiki, known as the Dump Truck, took centre stage.

The giant Hawaiian was the heaviest-ever rikishi coming in at 287kg – or 45 stone. That’s a lot of wrestler to dodge if he comes falling out of the ring towards you.

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The Royal Albert Hall may be firstly a concert venue, but it has hosted the likes of John McEnroe, Lennox Lewis and even Muhammad Ali.

And for the next five days, the cream of the world of sumo will be thrilling the crowds – provided a new noodle supplier is found.

What is a yokozuna?

Yokozuna is the highest rank in sumo, with its name meaning “horizontal rope” and refers to the rope worn around a competitor’s waist as they enter the ring.

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