Connect with us

Published

on

As of February, it’s cheaper to rent a home than buy one in all of the US’s top 50 metros — and by a staggeringly wide margin, according to a recent study.

For a so-called “starter home” in any of these sought-after cities — which some have argued no longer exist thanks to sky-high borrowing rates and inflationary housing prices — it costs 60.1% less to lease the property than own it on a monthly basis, per Realtor.com’s February 2024 Rental Report.

On average, the stiff premium for homeownership amounts to roughly $1,027 in monthly costs — though in the most sought-after cities, that figure more than doubles.

In Austin, Texas, for example, the gap between renting and buying was the largest, according to Realtor.com’s report that was earlier reported on by the Daily Mail.

The monthly cost of buying a starter home — a zero-to-two-bedroom home, per Realtor.com — in the Austin area was $3,695 in February. The sum marked a staggering 141.5%– or $2,165 — more than the typical monthly rent of $1,530 in the Texan capitol.

Seattle’s housing market also boasted a large disparity between buying and renting: The monthly cost of buying a starter home was $4,422 in February, while the median rent was $2,000 — a 121.1% difference, per Realtor.com.

Subscribe to our daily Business Report newsletter!

Please provide a valid email address.

By clicking above you agree to the Terms of Use and Privacy Policy.

Never miss a story.

And in Phoenix, Ariz., the cost of renting monthly, an average of $1,543, was nearly half the $3,071 per month it would require to buy.

Though it’s more expensive to buy a home in all of the 50 major metros in the US, San Francisco, Los Angeles, San Jose and Sacramento in California, as well as Nashville, Portland and Houston rounded out the top 10 cities with the biggest difference between buying and renting.

For reference, in Realtor.com’s February 2023 Rental Report, it found that renting a starter home was more affordable than buying in 45 of the largest US cities.

In the 12 months since, Memphis, Tenn.; Birmingham, Ala.; Pittsburgh, Pen.;, St. Louis, Mo.; and Baltimore, Md., have flipped from favoring homeowners to favoring renters, according to the Daily Mail.

Realtor.com — which assumed an 8% downpayment, a mortgage rate of 6.78% and included the cost of taxes, insurance and fees in its calculations — noted that buying a starter home is becoming increasingly more expensive as the price of monthly rents have dropped at a faster rate than buying costs.

In February, buying costs dropped 1.6% in the previous 12 months, while rent costs dropped 4.44%.

The key driver of this was elevated mortgage rates, Realtor.com said.

In February, the average rate on a 30-year fixed-rate mortgage was 6.78%, according to the real-estate listings website — up from 6.26% 12 months prior.

Surging rates have made it so unaffordable to take on a mortgage that there’s a growing number of buyers these days that Redfin calls “nepo” buyers — a reference to the nepo baby phenomenon where children of celebrities ride their coattails to gain a foothold on a career.

According to a recent survey from Redfin, 36% of Gen Zers, whose ages range between 12 and 27, and millennials, 28 to 43, are expecting a cash gift from family members in order to fund their downpayment twice as many as there were just five years ago.

Another 16% are anticipating to use an inheritance to help fund their downpayment, and 13% plan to live with their parents or other family members.

Continue Reading

World

France prisoner escape: Day of blockades in French prisons as inmate called ‘The Fly’ on the run

Published

on

By

France prisoner escape: Day of blockades in French prisons as inmate called 'The Fly' on the run

A suspected drug boss nicknamed “The Fly” is at the centre of police manhunt after escaping from a prison van in France.

Two prison officers were killed and three others seriously wounded when a convoy transporting prisoner Mohamed Amra from court to jail was ambushed at a motorway tollbooth near Rouen in Normandy by gunmen wearing balaclavas.

Mohamed Amra
Image:
Mohamed Amra

Several hundred police officers have been deployed nationwide to find the 30-year-old convict and gunmen. It is unclear how many assailants were involved.

CCTV footage showed a black Peugeot SUV driving into the front of a white van, with other video showing at least two armed men carrying rifles circling the car in flames on the A154 motorway.

French media reports suggested a second car used during the attack was a Sedan – stolen in the town of Pontault-Combault in northern France – which had been following the convoy and together with the SUV trapped the prison van.

The two cars were later found torched a few miles away.

A day of blockades dubbed “Dead Prisons Day” has been announced in jails across France today as prison officer unions respond in anger to Tuesday’s attack.

Local media on Wednesday reported demonstrations outside of prisons across the country – including in the French capital Paris, Rouen, Nice, Grasse, Draguignan and Amiens.

A fire burns as prison staff block the entrance of a detention centre  in Val De Reuil, France. Pic: Reuters
Image:
Wooden pallets are set on fire as prison staff block the entrance of a detention centre in Val De Reuil, France. Pic: Reuters

In Yvelines 130 people blocked a remand centre and set fire to wooden pallets, Le Parisien reported.

Inside, around 15 prison staff went about their everyday jobs – compared with the 40 usually onsite.

In addition, the day’s prisoner transportations and visits were cancelled, according to the newspaper.

Hubert Gratraud, a union representative, said: “There is an awareness of the dangerousness.

“We need resources and training. We need to get as close as possible to the reality on the ground: anything can happen.”

“People were shot at point-blank range, it was a massacre, a butchery,” said Ronan Roudaut, another union official.

A minute’s silence is also planned across the French criminal justice system including prisons and courtrooms at 11am.

Follow Sky News on WhatsApp
Follow Sky News on WhatsApp

Keep up with all the latest news from the UK and around the world by following Sky News

Tap here

‘Assassination attempt’

Police sources said Amra was involved in international drug dealing, a suspect in a kidnap and murder case in Marseille, and had ties to the city’s powerful “Blacks” gang.

He had recently been sentenced to 18 months for burglary in the suburbs of Evreux, northwest France, reported BFM TV.

The French broadcaster said his nickname was La Mouche – or “The Fly” in English.

A prison source told Le Parisien that Amra tried to saw the bars off his cell a few days ago – with the convict reportedly put in solitary confinement afterwards.

The publication said he is suspected of having ordered an assassination attempt, linked to drugs, targeting a Frenchman in Spain in the summer of 2023.

It added Amra, born in Rouen in northern France, was also re-evaluated as ‘Escort 3’ risk category, making more guards necessary during transportation.

Read more: Who is ‘The Fly’?

Dangerous fugitive’s mum speaks

His mother told French radio network RTL she had no idea her son had planned an escape.

“I went to Baumettes to see him, he was in solitary confinement, I went to [the prison of] Evreux once. He spoke normally, he didn’t show me anything. I don’t understand,” she said.

“They carry him around from right to left, they put him in solitary confinement instead of judging him once and for all.”

She said she “broke down” and “cried” when she found out what had happened.

“It makes me sick. How can lives be taken like that?” she said of the two fatalities.

“I don’t know what’s going on in his head, he’s not talking to me. He’s my son and he doesn’t talk to me about anything,” she added.

Justice Minister Eric Dupond-Moretti said two of the injured officers were in a critical condition.

“Absolutely everything will be done to find the perpetrators of this despicable crime,” he told BFM TV.

“These are people for whom life means nothing. They will be arrested, judged and punished according to the crime they committed.”

Continue Reading

UK

‘If I go, I know they will detain me’: Asylum seekers consider skipping Home Office meetings over Rwanda fears

Published

on

By

'If I go, I know they will detain me': Asylum seekers consider skipping Home Office meetings over Rwanda fears

In June 2022, Kidus, 30, from Eritrea, came to the UK in a small boat with around two dozen other people.

He still has the video on his phone showing everyone – including some women and children – clinging on to the dinghy wearing identical red lifejackets.

Back then, the government had already announced plans to send asylum seekers to Rwanda.

Despite being sent a letter warning he’s being considered for removal, he’s never thought it could really happen until now.

Kidus – not his real name – says before he left France, one of the people smugglers reassured him the government wouldn’t go through with it: the Rwanda policy simply wouldn’t affect him.

But earlier this month, one of his friends from Eritrea, who was on the same boat across the Channel, was detained when attending a routine appointment with the Home Office at a site in Liverpool.

As a result, Kidus is now considering not going to his next fortnightly meeting, even though attending the appointments is a condition of his immigration bail.

“If I didn’t go there, I know they’ll drop my case,” he tells us, concerned his asylum application will be cancelled.

But he adds: “If I go I know they will detain me. So, I’m just confused what I’m going to do.”

Kidus says he fears being deported to Rwanda
Image:
Kidus says he fears being deported to Rwanda

A document drawn up by Home Office officials revealed only 2,143 of the 5,700 asylum seekers Rwanda has agreed to accept actually attend check-ins and “can be located for detention”.

If people like Kidus stop attending, they will join the remaining 3,557 migrants who are currently missing.

The shared house Kidus lives in is paid for by the Home Office – so his address makes it almost impossible to disappear. But this means he knows he could be detained at any time.

“I’m always just frightened here. So, they might come at night or day and I’m always thinking that they’ll come and they’ll take me to detention. I’m not feeling safe here,” he says.

Kidus has stopped attending college where he was learning English and carries the phone numbers of legal firms with him at all times.

He speaks to his friend on the phone – who is now being held in a detention centre near Heathrow.

Nahom, not his real name, 26, estimates he’s among around 40 asylum seekers there who’ve been told they’ll be sent to Rwanda.

Follow Sky News on WhatsApp
Follow Sky News on WhatsApp

Keep up with all the latest news from the UK and around the world by following Sky News

Tap here

“It’s like a nightmare, it’s like a prison and I don’t like it here. I’m really stressed and panicked about the situation,” Nahom tells us from the site almost 100 miles away.

He admits he has been able to meet his solicitor but says he’s feeling increasingly desperate about being faced with the prospect of being sent to Rwanda.

“They can send my body, but not me alive,” he says. “I’m just giving up.”

In west London, we meet Nura, in her 20s, whose real name is withheld and who has made the decision to keep attending meetings with the Home Office because she doesn’t want to be kicked out of her taxpayer-funded hotel.

Nura says she will keep going to the appointments
Image:
Nura says she will keep going to the appointments

Read more:
Sunak’s Rwanda plan is at risk of being undermined
UK considered Iraq for asylum seekers in Rwanda-type deal

But each time she goes to sign in she’s terrified of being detained.

“Sometimes I say ‘why me’?” she asks tearfully, looking at her “notice of intent” letter warning her she’s being considered for removal to Rwanda.

“It’s not a safe country,” she adds. “What is the difference from Eritrea? It’s the same.”

Nura says when she came to the UK by small boat, she believed women wouldn’t be sent to Rwanda. She says she wouldn’t have come if she’d known she was at risk.

The notice of intent letter
Image:
The notice of intent letter

Kidus says the same thing: “If I’d have known this I’d have never come here.” He added he’d have instead gone to “Belgium or France, or Germany maybe”.

Now they’re here, their only hope is they won’t be chosen for detention.

The government remains determined to get the first flights to Rwanda within weeks.

Ahead of a general election, the plan has become a clear dividing line between the Conservatives and Labour, which has vowed to scrap the scheme if it comes to power.

Continue Reading

UK

Schools won’t be allowed to teach children that they can change their gender ID, reports say

Published

on

By

Schools won't be allowed to teach children that they can change their gender ID, reports say

Teachers in English schools will not be allowed to teach children that they can change their gender identity, according to reports.

Age limits are also set to be imposed for the first time on when children can be taught sex education.

The Times reports that education ministers will warn schools in England today that gender identity is “highly contested” and that teaching the issue could have “damaging implications”.

If asked, school staff should teach the “biological facts” about sex, the government will say, The Times adds.

Prime Minister Rishi Sunak has become concerned gender identity is becoming “embedded” in schools as an uncontested fact, the newspaper says.

Under other proposals, schools will be told not to teach children any form of sex education until year 5, when pupils are aged nine.

The plans will also rule out any explicit conversations about sex until the age of 13, The Times report also says.

More on Education

Thirteen would also be the age threshold for pupils to be taught about contraception, sexually transmitted infections, and abortion.

Read more from Sky News:
Doctor diagnosed with incurable cancer free of disease
Woman partially paralysed after star’s stage dive into crowd
Man bludgeoned friend to death with hammer

Follow Sky News on WhatsApp
Follow Sky News on WhatsApp

Keep up with all the latest news from the UK and around the world by following Sky News

Tap here

The new guidance is reportedly part of the government’s response to concerns children are receiving age-inappropriate relationships, sex and health education (RSHE).

Schools will reportedly be required to provide parents with samples of the material their children will be taught.

RSHE became compulsory in all English schools in September 2020.

The existing guidance outlines broad lesson modules, stating primary school children should be taught about alternative types of families and healthy relationships.

Secondary-school-aged children are taught more complex topics, including puberty, sexual relationships, consent, unsafe relationships, and online harms.

The Department for Education said it could not confirm the newspaper reports, and that it would not speculate on leaks.

Continue Reading

Trending