US home prices surge the most since 2013 as Americans take advantage of rock-bottom mortgage rates

  • The median price for a single-family home in the US rose 12% in the third quarter of 2020, according to the National Association of Realtors. 
  • Bloomberg reported that this 12% jump is the highest year-over-year increase since 2013. 
  • Low-mortgage rates have fueled 2020’s powerful housing rally. But as home prices significantly outpace median family income growth, more Americans are pushed out of the housing market and forced to delay homeownership. 
  • The proportion of first-time buyers dropped to 31%, the lowest share in over 30 years.
  • Visit the Business Insider homepage for more stories.

The median price for a single-family home in the US rose 12% in the third quarter to $313,500, according to the National Association of Realtors.

It’s the highest year-over-year increase since the third quarter of 2013, when prices rose 12.4%, Bloomberg reported.

Every single metro area tracked by the organization saw home

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No. 2 midsize: A window into Power Home Remodeling Group’s success

For many sales-based businesses, competition gets in the way of building a friendly and supportive work environment. But not at Power Home Remodeling Group, where employees say supportive colleagues and generous perks make it one of the best mid-sized companies to work for in Greater Houston.

Before COVID-19 hit, Power’s workers did door-to-door sales. They regularly held large group meetings, and even took an annual corporate-sponsored vacation to Mexico to celebrate their successes. These days, they’re maintaining good spirits and community over Zoom calls and regular check-ins to make sure workers are doing OK, said Joshua Shepard, vice president of sales for Power’s Houston office.

“Everyone cheers for each other, everybody is excited when someone’s successful versus being upset that ‘this should’ve been my customer,’” Shepard said.

Power, a national company located in 16 states, employs 154 workers in Houston and 2,700 nationwide. The company, founded in 1992, ranked second

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Five charged with kidnapping woman from store bathroom, charges state

SALT LAKE CITY — Five women are accused of dragging a woman from a bathroom stall and forcing her into a vehicle.

Siosiane Taufa, 26, of Salt Lake City; Cesia Ortiz, 27, of Heber City; Akanesi Vasitia Tongia, 25, of Salt Lake City; Patsy Lao, 40, of Sandy; and Irene McIntosh, 32, of Taylorsville, were each charged Thursday in 3rd District Court with kidnapping, a first-degree felony.

On Oct. 20, a woman locked herself in a bathroom in a store at 900 West and 1300 South, according to charging documents. After 15 minutes, a store employee told the woman she needed to leave, the charges state. The woman told the employee that “they” were trying to kidnap her, the charges state.

The woman later told police she believed the others were going to “pimp her out,” and that they threatened to kill her if she told police, according to the

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Cloud Architecture Unlocks a Single Version of Truth for a Consulting Engineering Company

CloudMoyo devised a modern data architecture for a consulting engineering company with Snowflake Data Warehouse leveraging Azure and Power BI technologies

Enterprises grow. And so does their data. As companies expand, data volumes across a variety of sources increases. In order to avoid the negative impacts of data and information siloes, however, organizations must leverage technologies that will eliminate siloes, apply advanced analytics, and utilize data visualization tools in order to give businesses a single version of truth from which to obtain insights and make data-driven decisions. 

It’s important to look deeper and understand how modern data architecture provides a one-enterprise view of data, ensuring flexible data storage, advanced analytics, and powerful data visualization. 

In this customer success story, we share insights from our customer, a leading consulting engineering that was motivated to eliminate data siloes, implement a data-driven culture, and align their data strategy with business goals. Solving for

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Employees working from home should pay ‘privilege’ tax’ to support workers who cannot, Deutsche Bank research note says

Employees who choose to work remotely should pay a tax to help those workers on low incomes who cannot, said a research note from Deutsche Bank.

CDC urging workers to work from home, but some don’t have that option

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According to the research report titled “What We Must Do to Rebuild,” employees who work from home receive immediate financial benefits, including reduced costs for travel, food and clothing. 

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The report suggests the employer would pay the tax if it does not provide the worker with a permanent desk. Otherwise, the employee would pay the tax.

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“Our calculations suggest the amounts raised could fund material income subsidies for low-income earners who are unable to work remotely and thus assume more ‘old economy’ and health risks,” said Jim Reid, global

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Med City remodeling firm buys fabrication facility for $1.12 million

A Med City remodeling firm is rolling forward with its evolution by wrapping up a $1.12 million purchase of one facility and upgrading another into a new showroom.

The Home Collective, formerly known as the Flooring Collective, acquired Mike Alicea’s TLC Surfaces, which makes and installs countertops as well as cabinets, at the end of September. The Home Collective is owned by Rochester duo Jon Ryan and Cordie Walker.

On Nov. 5, the Home Collective, under the umbrella of 1734 Building LLC, closed on the purchase of TLC Surfaces’ 17,200-square-foot fabrication facility at 1734 15th St NW. Olmsted County estimated the total market value of the 56-year-old industrial complex at $983,100 for 2021.

Walker says that his company will continue to use the 15th Street complex for countertop fabrication and storage. TLC’s three employees stayed with the business and the new owners have added an

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N.Y. Cases Spike; Chicago Advises to Stay at Home: Virus Update

(Bloomberg) — Chicago urged residents to stay at home, with Mayor Lori Lightfoot calling her advisory “literally a matter of life or death.” New York State reported more than 10,000 infections in two days. New York City is preparing for the possibility of closing its schools again, Mayor Bill de Blasio said. Ohio Governor Mike DeWine warned on Twitter: “We don’t want another shutdown,” as the state broke records for infections and hospitalizations.

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Covid won’t be a pandemic for “a lot longer” because of rapid progress in vaccine development, according to Anthony Fauci, the top U.S. infectious disease official. The Trump administration is stepping back from negotiations on a new stimulus package, as governors become America’s first line of defense against the pandemic’s winter onslaught.

Hospitalization rates set a new record in France. The U.K. reported record infections despite the tightened lockdown, though new cases may be steadying

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L’Oreal’s US CMO is leaving for fitness startup Hydrow

  • L’Oréal’s US chief marketing officer Gretchen Saegh-Fleming has left the company to join at-home fitness startup Hydrow, which offers live and on-demand workouts on rowing machines.
  • The marketing vet joins the startup as at-home fitness companies like Peloton and NordicTrack report record sales with people working out more at home in the pandemic.
  • Saegh-Fleming spent more than eight years at L’Oréal, where she is credited with digital innovation and e-commerce sales growth.
  • Visit Business Insider’s homepage for more stories.

L’Oréal’s US chief marketing officer Gretchen Saegh-Fleming has left for an expanded role at-home fitness startup Hydrow, which offers live and on-demand workouts on rowing machines.

As its chief commercial officer, she’ll oversee all aspects of the business including customer acquisition, omni-channel strategy, e-commerce, and sales and marketing, the company confirmed to Business Insider.

The marketing vet joins the startup as the at-home fitness industry is booming, with companies like Peloton

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Video of Corpse in Hospital Bathroom Alarms Italy as Covid Spreads

A video showing a man lying dead on the floor of a bathroom inside a packed Naples emergency room sparked outrage as it spread across Italy on Thursday, prompting government officials to call for “immediate intervention” as the coronavirus pandemic ripples across the country’s vulnerable south.

“This one is dead,” the person filming the video is heard saying as the camera points at a man lying underneath a sink in the bathroom at Cardarelli Hospital in Naples. Another patient is seen prostrate on a bed surrounded by uneaten food. “This one we don’t know whether he is alive or dead,” the person filming says.

In a statement on Wednesday, when the video was made public, the hospital said a patient with a “suspected Covid-19 infection” was found dead in the restroom of the emergency room. The cause of death was still under investigation, the statement said.

Raffaele Nespoli, a hospital

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Columbus architects honored in annual AIA awards

Jim Weiker
 
| The Columbus Dispatch

A hotel, home and a “hut” are among seven buildings designed by central Ohio architectural firms recognized this week in the annual American Institute of Architects contest.

The buildings were chosen from 57 entries, and illustrate the breadth of work being done by Columbus-area architects and designers. This year’s winners, chosen by five members of the Philadelphia AIA chapter: 

• The “hut,” a 600-square-foot cabin in Belmont County designed by the Midland architectural firm, which has offices in Pittsburgh and Columbus, received an honor award in the “small project” category. 

The $125,000 cedar-clad box is fully off the grid, relying on solar power and collected rain water. The project, which was featured on the Discovery Network’s “Building Off the Grid” show, was praised by judges “for its simple elegance, intentional siting, and beautiful execution.”

• The 117,000-square-foot University of Cincinnati Health Science Building, designed

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