Latest news with #SantaCruz
Yahoo
2 days ago
- Business
- Yahoo
This California town tops the most expensive rental market in the nation for third year running
Renting in Santa Cruz, California now requires a stifling income of more than $168,000 just to rent a two-bedroom, a figure that makes it the most unaffordable market in the nation for the third year in a row. In the Santa Cruz area, located on the Central Coast about 75 miles south of San Francisco, the hourly pay needed to afford a modest two-bedroom has risen from $63.33 in 2023 to $81.21 in 2025, according to the National Low-Income Housing Coalition's 2025 Out of Reach report. This is up nearly 30% since 2023, when they were first put at the top of the list. That means a renter must now earn $168,920 a year to be able to afford a modest two-bedroom at fair market rent in the metro area, the report shows. That would be a max of $4,223 a month in rent to stay under 30% of their gross income. In California, where the minimum wage is $16.50, that's the equivalent of working 4.9 full-time In-n-out Heiress Lynsi Snyder And Family Leaving California For Tennessee The report finds that the typical renter doesn't come close. The average renter in Santa Cruz County earns $22.13 an hour. At that rate, it would take about 3.7 full-time jobs to afford an apartment."This is a No. 1 we don't want to be," said Elaine Johnson, executive director of Housing Santa Cruz County to the Santa Cruz Sentinel. "This is an all-hands-on-deck kind of time for everyone involved."California state dominates affordability rankings, according to the Out of Reach report. The Golden State is home to eight of the ten most expensive metro areas, including San Jose, San Francisco, Salinas, and Santa Barbara. Statewide, the average housing wage for a two-bedroom apartment is nearly $50 per hour, which is the highest of any U.S. state. Timeline Of California's Yearslong And 'Disastrously Overpriced' High-speed Rail Project At the current minimum wage, a full-time California worker would need to put in 120 hours a week to afford the average two-bedroom apartment. According to the report, "Nowhere in the United States—no state, metropolitan area, or county—can a full-time minimum-wage worker afford a modest two-bedroom rental home."The report attributes the problem to a severe and persistent supply shortage, estimating a national gap of 7.1 million affordable rental homes for extremely low-income or 'ELI' say California's housing market is also hindered by overlapping layers of regulation."CEQA[California Environmental Quality Act] and restrictive zoning regulations are key contributors to California's housing shortage," said Dr. Wayne Winegarden, senior fellow at the Pacific Research Institute. "Prevailing wage mandates coupled with expensive environmental mandates... further inflates housing costs." Read On The Fox Business App Santa Cruz County Republican Party Chair Mike Lelieur told FOX Business the affordability crisis is a direct result of decades of progressive policy. "The local planning department has made it so outrageously expensive to build that it's just not profitable unless you're backed by a big corporate developer," Lelieur said. "Then you add CEQA, coastal commission reviews, endless permit delays, and greenbelt restrictions. It's a bureaucratic blockade by design." He also criticized the University of California, Santa Cruz, for expanding its student population faster than it builds housing. "UCSC keeps expanding, but they're not building dorms fast enough. So students flood the local market and landlords jack up rents — because mom and dad are paying the bill," he Fox Business On The Go"This is a housing crisis created by policy," Lelieur said. "And unless we change course, it's only going to get worse."The Santa Cruz Beach Boardwalk and the Santa Cruz County Business Council did not immediately respond to FOX Business' request for full report can be found at article source: This California town tops the most expensive rental market in the nation for third year running Solve the daily Crossword
Auto Blog
4 days ago
- Automotive
- Auto Blog
Hyundai Kills Problematic Dual-Clutch Autos For Two Models
By signing up I agree to the Terms of Use and acknowledge that I have read the Privacy Policy . You may unsubscribe from email communication at anytime. Autoblog brings you car news; expert reviews and exciting pictures and video. Research and compare vehicles, too. Modern torque-converter automatics are replacing once-lauded DCTs Hyundai just announced updates for its entire range, as most models begin the switch to the 2026 model year. While many of these changes involved a shuffling of trims and new features, one particular update jumped out at us. The Korean marque will be replacing the dual-clutch automatic transmission in variants of the Santa Fe and Santa Cruz equipped with it. In the DCT's place will be a conventional torque converter automatic. This seems to be yet another case of DCTs losing favor, due to reliability concerns and a few undesirable drivability characteristics. Let's take a closer look. 0:08 / 0:09 2024 Kia EV6 GT-Line review: Is this the EV that will convert you? Watch More A Needlessly Complex Transmission For Everyday Family Cars For turbocharged models (all non-hybrid Santa Fe and Santa Cruz derivatives), Hyundai has until now been using an eight-speed wet dual-clutch automatic. Naturally-aspirated Santa Cruz pickups stuck with a conventional eight-speed auto. However, DCTs are more complicated than regular autos, featuring two separate clutches and associated components. This makes them more costly to produce and maintain, and less suitable for use in cheaper everyday cars. There are also reliability concerns, as Ford found out with its older PowerShift transmissions. Hyundai has already had to recall Santa Fe models for DCT-related issues, despite the model still being relatively new. In these crossovers, the Transmission Control Unit software logic could mistakenly engage the clutches. These could damage the transmission, cause a rollaway, or result in a noise from the DCT. Source: Hyundai A separate recall involving Santa Cruz and Santa Fe models with the DCT was filed, too. This one related to rough shifts, a lack of power, and hesitation, which could result in the transmission needing to be replaced. Evidently, Hyundai decided that these transmissions are more trouble than they're worth, which is why a normal eight-speeder is being used instead. Autoblog Newsletter Autoblog brings you car news; expert reviews and exciting pictures and video. Research and compare vehicles, too. Sign up or sign in with Google Facebook Microsoft Apple By signing up I agree to the Terms of Use and acknowledge that I have read the Privacy Policy . You may unsubscribe from email communication at anytime. 'For 2026, Santa Fe moves to a torque converter transmission. It became available in our development cycle, and we determined it provided ideal overall drivability for the Santa Fe driver moving forward,' the spokesperson said to Car and Driver, seemingly not wanting to mention any of the DCT's obvious defects. In our own review of the Santa Fe, we found that the DCT was jerky when switching from first to second gear. DCTs May Have Had Their Heyday Since its use in the Volkswagen Golf R32 in the 2000s, the dual-clutch auto found its way into many performance cars. The transmission has often been praised for its ultra-fast shifts, which create a more engaging driving experience. They also improved fuel efficiency, especially at a time when torque-converter transmissions were not as refined or efficient as they are now. This has changed, however. Since the Golf R32 launched, torque-converter automatics have improved dramatically. Eight-speed transmissions are now commonplace, as are designs with up to 10 speeds. But beyond the number of gears, these transmissions now shift a lot quicker than before, to the point where the main advantage of a DCT has been eroded. Conventional automatics are also smoother, especially at low speeds or in stop-and-go traffic, when DCTs can be jerky. Source: Ferrari BMW, a brand that relied on DCTs for several M cars, has replaced them with its eight-speed torque converter, even in focused products like the M3. Reliable brands like Mazda and Toyota haven't considered DCTs, even in performance models. Of course, many supercar manufacturers still use DCTs successfully, such as Ferrari with the SF90 Stradale. While Ford persisted with its troublesome PowerShift for far too long, it's good to see Hyundai has made this change early in the life cycles of the current Santa Fe and Santa Cruz. About the Author Karl Furlong View Profile
Motor Trend
4 days ago
- Automotive
- Motor Trend
Hyundai is About to Make One of its Most Compelling SUVs Much Better
While both the 2026 Hyundai Santa Fe and the Santa Cruz compact pickup truck are dripping with appeal—the former with its boxy, Land Rover-esque styling and the latter with its new-age Subaru BRAT thing going on—both share a common weak point. On models equipped with Hyundai's turbocharged 2.5-liter four-cylinder engine, the transmission used is a jerky dual-clutch automatic. AI Quick Summary Hyundai will replace the problematic dual-clutch transmission in the 2026 Santa Fe and Santa Cruz with a traditional automatic, improving drivability and addressing warranty issues. Despite shared components, Kia will not follow this change. This summary was generated by AI using content from this MotorTrend article Read Next 0:00 / 0:00 While other automakers with similar transmissions haven't seen as much trouble with this automated transmission and have even excelled at them (Volkswagen, Porsche), others struggled with them (namely Ford last decade with its PowerShift automatic). When done right, the transmission type offers a one-two punch of nearly uninterrupted torque flow during shifts—as the next gear is essentially pre-selected—a boon for fuel economy, while those shifts can be quicker than in a traditional automatic, delivering a sporty feel. But they're complex and sensitive to less-than-ideal tuning. Hyundai's dual-clutch automatic has faced a slew of warranty issues causing costly repairs for the Korean automaker. And now those troubles may have factored into a big change: Hyundai confirmed to MotorTrend that both the Santa Fe and Santa Cruz will indeed drop the eight-speed dual-clutch transmission (DCT) in the Santa Fe and Santa Cruz in favor of a traditional torque-converter automatic transmission going forward. There are many reasons to celebrate the move. For starters, we've noted the DCT's poor low-speed response and at times clunky behavior in both Hyundai models. In the Santa Fe in particular, the transmission is among the only notable shortcomings in an otherwise well-styled, comfortable, and affordable three-row SUV. Any even-OK regular automatic would surely perform better and offer a smoother drive, as proven by the Santa Fe Hybrid model's perfectly fine six-speed automatic. Then there are the various recalls and warranty repairs surrounding the DCTs, which usually required wholesale replacement of the transmission and customers to suffer through lengthy downtimes due to parts availability and service time. The switch to the traditional automatic transmission will affect all Santa Fes and Santa Cruz models with the 2.5-liter turbocharged engine (Santa Fe is available with a different hybrid powertrain, while the Santa Cruz offers a non-turbo 2.5-liter four that already came with a normal automatic). Hyundai isn't saying that the recall and repair issues are behind the transmission switch, opting instead to offer the explanation that the traditional automatic 'became available in our development cycle, and we determined that it provided ideal overall drivability.' Even so, we can't help but think those replacements weren't great for its bottom line. Kia, which shares some platforms and components with Hyundai, also deploys the DCT on certain models in its lineup but says it isn't making a change. Pressed for comment, a Kia spokesperson said 'there are no plans to move away from the DCT.' While Hyundai and Kia are tied to the hip in their home country, the brands are treated as separate companies in North America, and make separate decisions.
New York Times
5 days ago
- Entertainment
- New York Times
Their Shared Love of Theater Was Just the Opening Act
Ellenore Paige Scott no longer needed people to clap for her when Richard Lee Everett III entered her life in February 2023. The Broadway choreographer and director had by then gotten her fill of admiration from strangers. Her hit Broadway shows included 'Funny Girl' and 'Mr. Saturday Night.' A star turn on television had happened 14 years earlier, when she was third runner-up on 'So You Think You Can Dance.' When Mr. Everett reached out on social media to compliment her work that winter, she didn't feel compelled to respond. But she wouldn't be sorry for acknowledging the praise three months later. 'I JUST FOUND THE MAN I WANT TO MARRY,' Ms. Scott texted her mother on May 13, 2023, the night the two first met. Both were in love before a week had elapsed. Ms. Scott, 35, grew up in Santa Cruz, Calif., as the only child in a household of fluid movement. Both her mother, Michelle Ramos, and father, Michael Scott, were professional dancers. Her ballet training started at age 2, but it wasn't until she was 9 and saw her father performing a hip-hop routine on the television show 'Destination Stardom' that she started taking dance seriously. Want all of The Times? Subscribe.
National Post
6 days ago
- Business
- National Post
Paystand Vaults into Elite CNBC/Statista Top Global Fintech List
Article content Paystand Expands Blockchain Tech Across the Americas; Joins Ranks with the World's Most Prominent Financial Innovators Article content Article content SANTA CRUZ, Calif. — Paystand, the global leader in blockchain-enabled payments and financial services, has broken into CNBC/Statista's list of the world's 300 top fintech companies. Identified by CNBC in 2018 as one of the top 100 promising startups to watch, the company has now made the leap to the CNBC/Statista list of elite fintechs globally. Paystand was specifically ranked among the top 75 companies globally in the payments category, recognizing Paystand's market role as a blockchain-based payments company that is reshaping how money moves between businesses. Article content The CNBC/Statista list is an annual ranking of the top global fintech companies based on in-depth research into relevant KPIs for more than 2,000 eligible companies. The 2025 list includes Stripe, valued at $91+ billion, and Klarna. The payments category accounts for 25% of the companies included. Of the 75 companies highlighted on the Payments list, Paystand and 23 others made the list for the first time. Article content According to Statista data, the fintech industry has transformed the global financial landscape over the last decade, and while investment activity has slowed in the segment over the last two years, the number of global fintech users reached 3 billion in 2024. Article content Paystand's technology harnesses the power of the bitcoin blockchain to provide digital alternatives that align with decentralized finance. By helping customers move away from the manual work of checks and the heavy fees of credit cards, it can cut customers' costs by 50% or more and they get the added benefit of receiving their cash 30% faster, while also automating reconciliation processes. Article content 'We're honored to be named to CNBC's Top Global Fintech list and proud of the trajectory that brought us here—from the 2018 Startups to Watch list to powering the largest on-chain use case in B2B payments today,' said Jeremy Almond, CEO of Paystand. 'While most fintechs chase capital, we've built capital-efficient, decentralized infrastructure that helps businesses in the real economy escape the predatory nature of the legacy financial system.' Article content To date, the company has processed more than $14 billion on its network, all without transaction fees. Last year, Paystand acquired TeamPay and extended its reach to more than 1 million payers. Article content 'This isn't just a win for us,' Almond continued. 'It's a milestone in the quiet revolution toward a Bitcoin-native, open financial network that drives economic empowerment for companies and people alike.' Article content Paystand has achieved numerous recent milestones, including: Article content Expansion into Canada—rolling out all Paystand platform benefits to Canadian users, including the EFT rail (like ACH for the U.S.) Deep ERP integrations with Acumatica and Microsoft Dynamics Business Central, following integrations with NetSuite and Sage Intacct New ZeroCheck solution that gives businesses tools to transition their check-paying customers to digital users by allowing them to photograph checks and convert the payments to digital payments New AI Smart Match, Paystand's novel AI that automatically detects and reconciles externally made direct deposits straight into the ERP Article content Founded on blockchain and Bitcoin, Paystand has pioneered the rollout of a corporate Bitcoin strategy and is benefitting from additional opportunities in a more positive regulatory environment. Also, the company is making bitcoin investments via its philanthropic organization, which promotes financial inclusion via blockchain and Bitcoin, fostering equitable finance and circular economies in underserved communities. Article content In addition to processing billions in payments with its proprietary Assurety blockchain ledger, today Paystand is already enabling employee compensation in bitcoin as well as developing company-wide Bitcoin education. Article content About Paystand Article content Paystand Article content is the largest blockchain-enabled network for zero-fee B2B receivables, payables, and payments. Driven by its commitment to a resilient and decentralized financial ecosystem, Paystand is on a mission to digitize receivables, automate payment processing, reduce time-to-cash, eliminate transaction fees, and unlock new revenue opportunities across the U.S., LATAM, and Canada. For more information about Paystand, visit us at Article content , and connect with us on Article content X Article content and Article content LinkedIn Article content . Article content Article content Article content Article content Article content Contacts Article content Media Contact: Article content Article content Erica Zeidenberg Article content Article content Article content Article content
