caption A large coastal storm hits Massachusetts in March 2018. source Scott Eisen/Getty Images Around 300,000 coastal homes in the US could experience chronic flooding by 2045, placing $117.5 billion worth of residential property at risk. Despite this threat, real estate professionals in vulnerable areas say there’s still a premium on coastal homes. While rebuilding homes to withstand hurricanes or floods is an expensive undertaking, it could save entire communities from devastation. When Hurricane Michael touched down in mid-October, it destroyed rows of homes in the Florida Panhandle, leaving behind just a few surviving structures. In Mexico Beach, Florida, only one oceanfront home was left fully intact: a two-story property made of concrete and steel cables. Unlike other structures in the area, the miracle home – known as Sand Palace – had been built to withstand winds of up to 250 mph. Its owners, Russell King and Lebron Lackey, … [Read more...] about The next housing crash could be caused by weather, not Wall Street – here are the places that should be worried
caption The bridge will open to traffic on Wednesday. source Bobby Yip/Reuters After nine years of construction and controversy, China is set to officially unveil the world’s longest sea bridge on Tuesday at a ceremony in Hong Kong. At more than 34 miles long, the Hong Kong-Zhuhai-Macau Bridge is part of a master plan to create a global science and technology hub by connecting two Chinese territories, Hong Kong and Macau (the world’s largest gambling center), to nine nearby cities. With an economic output of $1.5 trillion, the new mega-region – known as the Greater Bay Area – is positioned to rival Silicon Valley. The plan also includes the construction of an $11 billion bullet train, which opened in September. The bridge is expected to open to traffic on Wednesday, though only certain vehicles – shuttles, freight cars, and private cars with permits – are allowed to cross. Pedestrians and bicyclists are prohibited. While … [Read more...] about China is about to open the world’s longest sea bridge. It cost $20 billion and is 20 times as long as the Golden Gate Bridge.
caption Melinda Gates didn’t think her future husband was “spontaneous” enough at first. source Scott Olson/Getty Images Bill Gates, the founder of Microsoft, married Melinda French in 1994. They met at Microsoft when Melinda was brought on a product manager. She initially turned down Bill’s request for a date at a company picnic. Today, they run the Bill & Melinda Gates Foundation, which has an endowment of $40.3 billion. Melinda French was less than impressed when her boss asked her out on a date. It was 1987, and the recent Duke graduate had just joined Microsoft as a product manager. CEO Bill Gates approached her at a company picnic and asked if she’d be interested in grabbing dinner in two weeks. She responded, “That’s not spontaneous enough for me,” Fortune reported in 2015. Fast-forward three decades, and Bill and Melinda Gates are married with three kids, worth $98.1 billion, … [Read more...] about Inside the marriage of Bill and Melinda Gates, who met at work, live in a $124 million home, and will leave their children only a small fraction of their $98.1 billion fortune
The Bill and Melinda Gates Foundation released its second Goalkeepers report on Tuesday, discussing the need for more progress in eliminating poverty worldwide. In an interview with National Geographic Magazine, Bill and Melinda Gates shared the one problem they would fix with a magic wand. Melinda Gates said she would provide contraceptives to the 200 million women who lack access to them. Bill Gates said he would stop malnutrition among children who are not able to fully develop. The Bill and Melinda Gates Foundation released its second annual Goalkeepers report on Tuesday, warning that decades of progress in eliminating poverty could regress without a greater effort to make food and other vital resources more accessible. Tuesday’s report paints a less optimistic picture than last year’s version, when the Gates Foundation highlighted global trends that showed how the world is getting better. Bill and Melinda Gates sat down with National … [Read more...] about Bill and Melinda Gates reveal the one global problem they’d each fix if they had a magic wand
caption A shuttered mall in Alexandria, Virginia. source Mark Wilson/Getty Images As big box stores like Kmart and JCPenney continue to shutter their doors, they have given birth to a wave of new development. With its latest design, architecture firm KTGY transforms an empty store into a living space for homeless residents. In addition to offering support for the homeless, the project hopes to bypass the bureaucracy of transitional housing. The steep decline of big box stores like Kmart and JCPenney has made way for a host of new development. In recent years, a string of vacant malls and retail chains have been converted into everything from classrooms and office space to churches and trampoline parks. As merchants like Amazon continue to dominate online shopping, economists estimate that another 30,000 to 80,000 retail stores will close by 2025. Recently, developers have begun to view these spaces as a possible solution to a growing national housing … [Read more...] about The death of big box stores could lead to a new kind of homeless housing. Here’s what that might look like