Last week news at a glance

All the world news of the last week at a glance (10 February 2024)

International

Take a look at some of the events that happened in the world from February 4, 2024 to February 10, 2024.

Polish peasants protest in Europe.

There is a huge protest going on among the farmers in Europe. Because the farmers there are not able to work according to their capacity. They are given limited work. Goods are bought from Ukraine at very low prices in Europe. Because of this, European farmers are losing their jobs. Polish politicians have called on the Agriculture Commission to resign. Because he failed to maintain everything properly. European farmers have planned a month-long strike in protest

Prince Harry presented the Man of the Year award to Cameron Heyward.

Prince Harry is a very funny man. It is through him that the Man of the Year award is currently given. The Man of the Year award has been presented annually since 1970. It is awarded to an NFL player who excels on the field. Pittsburgh Steelers defensive tackle Cameron Heyward received the man of the year award this year. NFL Commissioner Roger Goodell praised Hayward, saying, “We are very proud to present our 2023 Man of the Year award to Cameron Hayward.

Taylor Swift sold a private jet worth 4 million dollars.

Taylor Swift sold her private jet on January 30, 2024. Its model was Dassault Falcon 900LX. He sold it to a car insurance company for $40 million. In 2022, Taylor Swift was named as the owner of the most CO2-emitting jet. Elon Musk, Bill Gates and Leonardo DiCaprio also faced criticism for using Swift’s jet. Due to various pressures and criticism, Swift sold his private jet.

Buy apartments in New York City at 50% discount.

Once a lucrative investment opportunity, now facing significant challenges due to tightened rent regulations. Historically, landlords would buy run-down, rent-stabilized buildings, renovate them, and increase rents, profiting from the rising market rates. However, in response to concerns about declining affordable housing, New York state lawmakers revised regulations in 2019, reducing rent increases after renovations and preventing apartments from leaving the stabilization program. This shift has left landlords like Peterson, who invested heavily in such properties, in financial distress, facing foreclosure and struggling to meet mortgage payments.

As a result, the market value of rent-stabilized units has plummeted, with average sale prices dropping by 34% since 2019, while non-regulated apartments have seen a 23% increase. The Federal Deposit Insurance Corp. unloaded loans backed by rent-stabilized apartments at a significant discount, reflecting the growing concern over real estate exposure. Many landlords are considering walking away from their properties, exacerbating the battle over affordable housing in one of the world’s most expensive cities.

Landlords like Lewis Barbanel argue that tighter rent regulations infringe on private property rights and discourage renovation and construction, exacerbating the housing shortage. Barbanel’s company sold numerous rent-stabilized buildings at a loss and is shifting investments to other areas. However, tenants view landlords as responsible for reckless borrowing and unsustainable rent increases, leading to widespread opposition to their practices.

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