Orlando Joins Florida's Stadium Boom With $420 Million Bond Sale
The city plans to sell about $420 million of tax-exempt bonds on Thursday to modernize the open-air football stadium and expand its seating capacity. The deal will also fund a new multipurpose events center on the stadium's campus. The debt is backed by a portion of Orange County's tourism tax, with the county providing support if revenues fall short.
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Yahoo
an hour ago
- Yahoo
4 States Where Home Prices Are Expected To Crash in the Next 12 Months
For anyone following along, the housing market has seen some ups and downs in recent years. While it's impossible to predict the future, many experts expect the home prices to fall in several states over the next 12 months. Explore More: Find Out: This guide explores which states are expected to see dramatic drops in home sale prices based on these market predictions from Forbes. Florida Home prices are falling in some cities across Florida. Cape Coral, located in southwest Florida, stands out for some of the most dramatic drops. A recent report from The Wall Street Journal found that home prices in the Cape Coral-Fort Myers area have dropped by over 11% in the last few years. Homes in the area are sitting on the market for extended periods of time, which is pushing prices lower. Additionally, almost 8% of Cape Coral homeowners owe more than their homes are worth, all setting the stage for a potential housing crash in the area. Other cities in Florida seeing home prices fall quickly include North Port, Tampa, Jacksonville, Palm Bay and Deltona, according to Newsweek. Beyond individual cities in the Sunshine State, plummeting condo prices have rocked the real estate world in the coastal regions of the state, particularly in South Florida, per Tampa Bay Times. After the tragic Surfside condo collapse, the state increased safety regulation and inspection requirements, which added up to extra costs for condo owners. As the costs of ownership skyrocketed, many owners tried to sell out, essentially flooding the condo market and leading to falling condo prices across the state. Texas The Lone Star State is seeing home prices fall, which could represent the beginning stages of a crash. With home prices dropping in major Texan cities, including Austin and Dallas, rising inventory is contributing to falling prices, according to Zillow. California California home prices are slipping, but not by much. As of writing, the average home value in California is $786,107, which is down by 0.6% from last year, per Zillow. But with home sales in the state already down 37% from their pandemic peak, according to Newsweek, it's unclear how far California home sales can fall. North Carolina North Carolina has seen home values fall around the state, particularly in more populous cities, like Charlotte and Raleigh. Across the state, home values are down by 0.6% in the last year. But in Raleigh, the downside has been significantly larger, with average home values down by 2.2% in the last year. What This Means for You A potent combination of high interest rates and growing inventory in these once-hot markets is forcing a cool down. For sellers, this could mean getting less value out of their home. For buyers, it could represent an opportunity to move forward on a home purchase. As you consider a home purchase, keeping an eye on market factors can be helpful. But before purchasing a home, the most important thing is that your financial situation is in the right position for homeownership. If it's not, even a market downturn might not mean it's time for you to purchase a home. Instead, you might need to take time building up your financial situation before jumping into a home purchase. Takeaway Many factors contribute to falling home values across the country. As the housing market cools from a hot seller's market into a buyer's market, home values are also sliding. But not all housing markets across the country are being impacted equally. Specifically, housing markets in the South and West seem to be losing steam while those in the Northeast and Midwest seem to be ticking along with modestly rising property values. More From GOBankingRates 3 Luxury SUVs That Will Have Massive Price Drops in Summer 2025 These Cars May Seem Expensive, but They Rarely Need Repairs 6 Big Shakeups Coming to Social Security in 2025 This article originally appeared on 4 States Where Home Prices Are Expected To Crash in the Next 12 Months Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
CBS News
2 hours ago
- CBS News
How the FIRE movement is inspiring early retirees
On a recent Sunday morning, at a Bible camp outside of Gainesville, Florida, Nik Johnson got up to preach, not about hellfire and brimstone, but about a very different fire: Financial Independence, Retire Early (FIRE). "Ultimately at the end of the day, financial independence really ain't about us," he said. "It's about people that we love and the causes that we care about." This was Camp FI. Its attendees: retirees and aspiring retirees who looked a little on the young side. When Johnson met his wife, Adinah, some 30 years ago, she knew right away, he was a saver: "Our first date, he had a coupon," she said. "I did use a coupon! And I'm not ashamed about it," said Nik. "I knew that if I presented a coupon and she had an issue with it, she was not my soulmate." Adinah's reaction? "How many other coupons do you have? What's the best deal? Wait a minute, let's see what we could do here!" Nik worked in software, while Adinah was in higher ed. And despite modest starting salaries, they managed to pay off their home and save $1.6 million by consuming less, saving more, and putting 300,000 miles on their beloved minivan, Big Red. Nik said, "I shared this with Adinah: I always wanted to be to the point that when I got to 50 I didn't want to have to work. And so honestly, I didn't exactly know how to achieve that." Then, one day during the pandemic, Nik was poking around on the Internet and discovered the FIRE Movement, which led him to Camp FI – a group of hardcore savers and careful spenders who share tips, tricks and philosophical discourse with basically one goal … to get out of the rat race. It's all inspired by Peter Adeney, who blogs under the name Mr. Money Mustache. "American life is so inefficient," he said. "We're all just kind of following each other, what each other does, and not realizing where all of this time and money is slipping through our hands. So, start doing things that are different from what other people do, would probably be the first piece of advice." Adeney retired at age 30, and turned 50 this year. He said, "I often think that, because I retired so early, I have lived a lot longer than a normal 50-year-old. Like, I feel like I retired 100 years ago, because I've had so many experiences. It's a great antidote to the usual thing, where people say, 'Life goes by too fast. Then, you miss it.' "However, it doesn't solve your happiness problems," Adeney said. "One of my friends who's also a blogger says, like, he still had to confront some demons and some emotional issues. And taking away his job just exposed them more, 'cause he could no longer distract himself from them." The key to saving for retirement, according to Adeney, is to figure out what's important to you – and trim your spending everywhere else. Vicki Robin is a sort of mythical figure in the FIRE Movement. She is the co-author (with Joe Dominguez) of the 1992 personal finance book, "Your Money or Your Life." She said, "As you start to elaborate what's important to you, you realize, like, 'I'm gonna minimize the amount of money I spend, 'cause that's my life energy.' And there's some formula that arises in your mind of, like, 'The less I spend, the more life I have.'" Robin's philosophy is less about early retirement and more about asking what is "enough," which differs for everyone. But the consensus of the FIRE Movement is that, to retire, you have to save and invest 25 times your yearly expenses, and then live off of a 4% drawdown each year. Robin said, "It's just, 'Okay, how can I have enough for a life that's really happy, but no excess, so that I can liberate my time to do what I find I'm called to do, what I care to do?' And, you know, that evolves over time. I have a little phrase that I've said: I buy my freedom with my frugality every day." A frugality which Nik and Adina Johnson say they are now reaping the rewards of, along with their three children: a life less defined by the "stuff" they possess, and more by the freedom they enjoy. Nik said, "They're gonna always remember this trip to Disney. But they're not gonna remember, you know, that extra pair of tennis shoes I bought my son. My son's not gonna look at me like, 'Hey Dad, remember that blazer you had on? Man, it was awesome!'" Asked what these early retirees' day looks like, Adinah replied, "Well, I have to pick up the kids, and then I have to take my son to football practice. And then whatever grocery shopping I may have needed to do while I was doing this interview, I need to go ahead and get some of that grocery shopping done." "Doesn't sound like she needs my help for any of that; I'll probably go play golf," Nik laughed. I observed, "Seems like one of you is more retired than the other one." For more info: Story produced by Anthony Laudato. Editor: Emanuele Secci. See also:
Forbes
3 hours ago
- Forbes
In Europe's Largest Artificial Lakeland, Tourism Is At A Crossroads
The Rusty Nail, an observation tower in Germany's Lusatian Lake District. Aren Elliott From the top of the Rusty Nail, a striking architectural observation tower that stands sentinel over the Lusatian Lake District, you can see all the way to the Czech border. There are lakes, orchards, enormous windmills and, far in the distance, the Schwarze Pumpe power station, an 800 megawatt electric power plant that burns lignite coal. This is a picture of Germany's past — and future. "Germany is phasing out coal energy production by 2038," explains Heinz Müller, a former engineer who worked in eastern Germany's coal mines. It's also an image of Germany's tourism future. This part of the country used to have a reputation for its lignite strip mines and heavy pollution. It's a dramatic contrast to the scene today. Just below the Rusty Nail, there are pristine pine forests, lakes that glisten under the sun, and immaculate asphalt cycle paths. The only signs of human activity below are a few fellow cyclists. The air is clear again. Heinz Müller, a former engineer in eastern Germany's lignite mines. Aren Elliott After strip mining, a sustainable future Müller witnessed the region's transformation, which began with the end of mining in the late 1960s at what is now Lake Senftenberg. Authorities considered three possibilities: forestry and nature conservation, agricultural use, or recreational use, which entailed filling the pits with water. They chose all three. Lusatia's transformation isn't just an environmental project. "It's a natural example of sustainability," says Müller. This region, once an industrial powerhouse, is transforming into a service economy, with tourism at its heart. It's a colossal undertaking, a more than $2 billion regeneration program that has turned former opencast mines into Europe's largest artificial lakeland. There are 26 new lakes, 13 of which are already accessible, many connected by canals and an impressive 300-mile network of cycle paths. This project has attracted global attention and has served as a model for large-scale landscape reconstruction and environmental cleanup. The goal is not just to clean up but to make these landscapes usable again, restoring or redesigning them in a manner appropriate to their new purpose. This region, once an industrial powerhouse, is transforming into a service economy, with tourism at its heart. It's a colossal undertaking, a more than $2 billion regeneration program that has turned former opencast mines into Europe's largest artificial lakeland. A view from the top of the Rusty Nail. In the distance, one of Germany's last remaining coal power plants. Aren Elliott A transition with challenges The transformation hasn't been easy. One major hurdle has been the acidity of the lakes. Müller says the water in these former pits initially had pH values below 5, due to minerals churned up during mining. To make them safe for aquatic life and human recreation, they had to be flushed with river water or have limestone poured in, raising the pH to fish-sustaining levels. Another persistent issue is ensuring the area's geological stability. The earth hauled out of the pits over decades was often simply deposited in loose piles, creating a risk of landslides. Continuous monitoring and remediation are crucial, since a misplaced step could cause a section to slide back into the water. It is a massive, ongoing engineering challenge beneath the tranquil surface. And while tourism jobs are growing and forming an important foundation for the region's renewed economic vitality, they can't fully replace the tens of thousands lost from the coal industry. This represents a fundamental shift not just in the landscape, but in the community itself. It's a transition that requires patience. Vacation in Lusatia? Lusatia is marketing itself as a major tourist destination, and aims to increase overnight stays from 930,000 to 1.5 million per year. So what is there to do, other than admire the area's transformation? There's cycling, of course, with that extensive network of bike paths. Fishing, diving and horseback riding are important options, too. There are accommodations ranging from simple campsites to floating vacation rental apartments, as well as luxury resorts. The four-star Seeschlößchen Ayurveda Spa & Hotel is a fascinating example of this new direction. It's an "adults-only" hideaway, focusing on wellness and nature. It offers a 5,000-square-meter spa with a heated outdoor pool. The hotel, whose name literally means "small castle by the sea," has a culinary approach that blends regional Lusatian cuisine with Ayurvedic dishes from Sri Lanka. Despite the challenges, Lusatia is experiencing a noteworthy ecological comeback. The lakes are now home to a thriving array of biodiversity. On the protected island in Lake Senftenberg, you can see over 80 different bird species, either nesting there or passing through on migration. More widely, animals and plants driven from other intensively farmed European landscapes, including wolves, the Eurasian hoopoe bird, and a plant called great horsetail, are reclaiming these areas. These newly created lakes also serve as vital water buffers against climate change, storing water during wet periods and releasing it during droughts, a crucial function for cities like Berlin that depend on water flowing through Lusatia. This whole region has become a giant laboratory for geologists, economists, and biologists, exploring what a post-industrial, rewilded landscape can become. The view from the Rusty Nail The panoramic view from the Rusty Nail is more than a look at Germany's energy past and future. This metal monolith offers a vantage point for what is possible, when it comes to sustainable tourism. It's a powerful metaphor for Lusatia itself – a region deeply scarred by its past, yet now reaching for something entirely new. The transformation here is a declaration of intent, a belief that even the most heavily industrialized areas can heal and thrive once more. But the road ahead won't be easy. The balance between sustainable energy, burgeoning tourism, and environmental preservation is a complex challenge. Will the influx of visitors compromise the delicate ecosystems that have only just begun to recover? Can the region adapt its energy infrastructure to meet the demands of a changing climate without damage to its economy? The Lusatian Lake District will probably have its answers by 2038 — if not sooner.
