Idaho is the most ‘overvalued’ housing market in the U.S., says Moody’s Analytics. Here’s where Utah ranks

Deseret News

Idaho is the most ‘overvalued’ housing market in the U.S., says Moody’s Analytics. Here’s where Utah ranks

Katie McKellar – October 30, 2023

New homes in Eagle, Idaho, are pictured on Sept. 23, 2022.
New homes in Eagle, Idaho, are pictured on Sept. 23, 2022. | Ben B. Braun, Deseret News

Even though the housing market is in the midst of a correction thanks to the rapid rise of mortgage rates that began in mid-2022, U.S. home prices are still overvalued — and some local markets are more overvalued than others.

That’s according to a new analysis from Moody’s Analytics, which estimates national median home prices are about 15.7% over their fundamental value. The firm’s economist Matthew Walsh predicts they’ll decline another 4% to 4.5% in coming months, Insider recently reported.

Based on Moody’s model — which accounts for variables such as construction costs, household formation rates and where home prices currently stand compared to median incomes — Insider ranked all 50 states, plus Washington, D.C., from least overvalued to most. One state in the West sank to the very bottom.

Idaho ranked 51st as the most “overvalued” local housing market as of the second quarter of 2023, with a median home price estimated by Redfin of $467,000, Insider reported.

Moody’s model estimates Idaho’s home prices exceed their fundamental value by 41.87%, according to Insider. Higher than 10% is considered overvalued and those more than 20% higher are considered extremely overvalued.

“If you look at Idaho over the past three years, you’ve had this extreme run up in home prices since the pandemic began,” Walsh recently told the Daily Mail. “So if you look at that relative to the demographic drivers — the household formation and the income growth there — that run up has been so much more extreme which is why we see the inflated valuation of houses there.”

Related

It’s not the first time Idaho has made headlines for its home prices, which boiled over as low interest rates during the COVID-19 pandemic sent the West’s housing market into a frenzy. Housing markets in the West were also among the first to see the most dramatic price declines as interest rates skyrocketed amid the Federal Reserve’s battle with inflation.

Last year, when mortgage rates began rising from 3% to over 6%, Moody’s estimated Boise’s market was overvalued by an estimated 76.9%, Fortune reported. At the time, Moody’s estimated there were over 210 housing markets across the nation that were “significantly overvalued,” or overvalued by more than 25%.

Boise was also among the first to post a year-over-year home value decline in Zillow’s Home Value Index, down 1.2% in August 2022. More recently, Boise was down over 7% year over year, according to Zillow data through Sept. 30.

That suggests home prices in Boise may have further to fall, especially with mortgage rates today that hover well over 7%, some days exceeding 8%, according to Bankrate.com.

In a May commentary, Walsh wrote most U.S. metro areas continued to be overvalued even as prices ticked down amid the housing market correction. However, the number of fairly valued metro areas also continued to climb as prices “fall back toward their equilibrium value in many markets.”

Related

“Despite the improvement, overvaluation remains more widespread than during the height of the 2000s housing bubble. Today there are more than 300 metro areas that are overvalued or extremely overvalued compared with 260 during the final quarter of 2006,” Walsh wrote.

In that commentary, Walsh also pointed to Boise as topping the list as the most overvalued. At the time, prices exceeded their estimated fundamental value by more than 54%. Walsh noted that was a “sharp reduction” from the prior quarter when Boise was overvalued by more than 63%.

In February, Moody’s Analytics projected home prices would continue to fall 5% to 10% from their 2022 peaks by the beginning of 2025, and predicted the most “highly overvalued” metro areas — such as Boise, Phoenix, Austin and Nashville — would see the largest declines.

However, that same Moody’s analysis also noted these price corrections are “not a crash.”

“House prices will not crater like they did during the Great Recession,” the February analysis said, predicting home prices will fall back to late 2021 levels in early 2024. “Only this year’s gains will be wiped out by declines. For perspective: in 2025, when the next low is reached, we expect prices nearly 30% higher than they were at the beginning of 2020.”

Where does Utah rank?

In the Insider list based on Moody’s model, Utah ranked No. 40 — 11 spots below Idaho in terms of overvaluation. Moody’s estimated Utah’s home prices exceed their fundamental value by 26.31%, Insider reported.

Utah, like Idaho, was also hit hard by the pandemic housing rush and saw some of the biggest home price declines as interest rates rose.

Related

In August, after six straight months of growth, home prices in most of Utah’s Wasatch Front counties tipped down. In Salt Lake County, the median price of all home types fell to $520,000 that month, a nearly 10% drop from a year ago and nearly 2% down from July, according to the Salt Lake Board of Realtors. With rates rising and demand set to fade even more heading into winter, Utah could see even more price declines in coming months.

To put those declines in perspective, however, Utah’s home prices surged by 72% over the past five years, according to the Federal Housing Finance Agency. In the two-year period from 2020 to 2022 alone, the median sales price of a home in Utah rose almost 50%, up from $336,300 in February 2020 to $500,000 the same month in 2022, according to estimates from the University of Utah’s Kem C. Gardner Policy Institute.

Utah’s housing experts have predicted Utah would be impacted somewhat by the national housing market correction — but they also expect Utah’s home prices to remain stubbornly high, largely thanks to the state’s years long housing shortage that they say is poised to worsen as home building contracts. In a recent report from the Kem C. Gardner Policy Institute, housing researchers predict Utah’s housing shortage will likely increase to over 37,000 units by 2024.

They went hunting for fossil fuels. What they found could help save the world

CNN

They went hunting for fossil fuels. What they found could help save the world

Laura Paddison, CNN – October 29, 2023

When tw o scientists went looking for fossil fuels beneath the ground of northeastern France, they did not expect to discover something which could supercharge the effort to tackle the climate crisis.

Jacques Pironon and Phillipe De Donato, both directors of research at France’s National Centre of Scientific Research, were assessing the amount of methane in the subsoils of the Lorraine mining basin using a “world first” specialized probe, able to analyze gases dissolved in the water of rock formations deep underground.

A couple of hundred meters down, the probe found low concentrations of hydrogen. “This was not a real surprise for us,” Pironon told CNN; it’s common to find small amounts near the surface of a borehole. But as the probe went deeper, the concentration ticked up. At 1,100 meters down it was 14%, at 1,250 meters it was 20%.

This was surprising, Pironon said. It indicated the presence of a large reservoir of hydrogen beneath. They ran calculations and estimated the deposit could contain between 6 million and 250 million metric tons of hydrogen.

That could make it one of the largest deposits of “white hydrogen” ever discovered, Pironon said. The find has helped fuel an already feverish interest in the gas.

White hydrogen – also referred to as “natural,” “gold” or “geologic” hydrogen – is naturally produced or present in the Earth’s crust and has become something of a climate holy grail.

Hydrogen produces only water when burned, making it very attractive as a potential clean energy source for industries like aviation, shipping and steel-making that need so much energy it’s almost impossible to meet through renewables such as solar and wind.

But while hydrogen is the most abundant element in the universe, it generally exists combined with other molecules. Currently, commercial hydrogen is produced in an energy-intensive process almost entirely powered by fossil fuels.

A rainbow of colors is used as a shorthand for the different types of hydrogen. “Gray” is made from methane gas and “brown” from coal. “Blue” hydrogen is the same as gray, but the planet-heating pollution produced is captured before it goes into the atmosphere.

The most promising from a climate perspective is “green” hydrogen, made using renewable energy to split water. Yet production remains small scale and expensive.

That’s why interest in white hydrogen, a potentially abundant, untapped source of clean-burning energy, has ratcheted up over the last few years.

‘We haven’t been looking in the right places’

“If you had asked me four years ago what I thought about natural hydrogen, I would have told you ‘oh, it doesn’t exist,’” said Geoffrey Ellis, a geochemist with the US Geological Survey. “Hydrogen’s out there, we know it’s around,” he said, but scientists thought big accumulations weren’t possible.

Then he found out about Mali. Arguably, the catalyst for the current interest in white hydrogen can be traced to this West African country.

In 1987, in the village of Bourakébougou, a driller was left with burns after a water well unexpectedly exploded as he leaned over the edge of it while smoking a cigarette.

The well was swiftly plugged and abandoned until 2011, when it was unplugged by an oil and gas company and reportedly found to be producing a gas that was 98% hydrogen. The hydrogen was used to power the village, and more than a decade later, it is still producing.

When a study came out about the well in 2018, it caught the attention of the science community, including Ellis. His initial reaction was that there had to be something wrong with the research, “because we just know that this can’t happen.”

Then the pandemic hit and he had time on his hands to start digging. The more he read, the more he realized “we just haven’t been looking for it, we haven’t been looking in the right places.”

The recent discoveries are exciting for Ellis, who has been working as a petroleum geochemist since the 1980s. He witnessed the rapid growth of the shale gas industry in the US, which revolutionized the energy market. “Now,” he said, “here we are in what I think is probably a second revolution.”

White hydrogen is “very promising,” agreed Isabelle Moretti, a scientific researcher at the University of Pau et des Pays de l’Adour and the University of Sorbonne and a white hydrogen expert.

“Now the question is no longer about the resource… but where to find large economic reserves,” she told CNN.

A slew of startups

Dozens of processes generate white hydrogen but there is still some uncertainty about how large natural deposits form.

Geologists have tended to focus on “serpentinization,” where water reacts with iron-rich rocks to produce hydrogen, and “radiolysis,” a radiation-driven breakdown of water molecules.

White hydrogen deposits have been found throughout the world, including in the US, eastern Europe, Russia, Australia, Oman, as well as France and Mali.

Some have been discovered by accident, others by hunting for clues like features in the landscapes sometimes referred to as “fairy circles” – shallow, elliptical depressions that can leak hydrogen.

Ellis estimates globally there could be tens of billions of tons of white hydrogen. This would be vastly more than the 100 million tons a year of hydrogen that is currently produced and the 500 million tons predicted to be produced annually by 2050, he said.

“Most of this is almost certainly going to be in very small accumulations or very far offshore, or just too deep to actually be economic to produce,” he said. But if just 1% can be found and produced, it would provide 500 million tons of hydrogen for 200 years, he added.

It’s a tantalizing prospect for a slew of startups.

Australia-based Gold Hydrogen is currently drilling in the Yorke Peninsula in South Australia. It targeted that spot after scouring the state’s archives and discovering that back in the 1920s, a number of boreholes had been drilled there which had very high concentrations of hydrogen. The prospectors, only interested in fossil fuels, abandoned them.

“We’re very excited by what we’re seeing,” said managing director Neil McDonald. There is more testing and drilling to do but the company could get into early production possibly in late 2024, he told CNN.

Some startups are seeing eye-popping investments. Koloma, a Denver-based white hydrogen start-up, has secured $91 million from investors, including the Bill Gates-founded investment firm Breakthrough Energy Ventures – although the company remains tight-lipped about exactly where in the US it is drilling and when it is aiming for commercialization.

Another Denver-based company, Natural Hydrogen Energy, founded by geochemist Viacheslav Zgonnik, has completed an exploratory hydrogen borehole in Nebraska in 2019 and has plans for new wells. The world is “very close to the first commercial projects,” Zgonnik told CNN.

“Natural hydrogen is a solution which will allow us to get get to speed” on climate action, he said.

Aerial view of drilling operations by Natural Hydrogen Energy in Kansas. - Natural Hydrogen Energy LLC
Aerial view of drilling operations by Natural Hydrogen Energy in Kansas. – Natural Hydrogen Energy LLC
From hype to reality

The challenge for these businesses and for scientists will be translating hypothetical promise into a commercial reality.

“There could be a period of decades where there’s a lot of trial and error and false starts,” Ellis said. But speed is vital. “If it’s going to take us 200 years to develop the resource, that’s not really going to be of much use.”

But many of the startups are bullish. Some predict years, not decades, to commercialization. “We have all necessary technology we need, with some slight modifications,” Zgonnik said.

Challenges remain. In some countries, regulations are an obstacle. Costs also need to be worked out. According to calculations based on the Mali well, white hydrogen could cost around $1 a kilogram to produce – compared to around $6 a kilogram for green hydrogen. But white hydrogen could quickly become more expensive if large deposits require deeper drilling.

Back in the Lorraine basin, Pironon and De Donato’s next steps are to drill down to 3,000 meters to get a clearer idea of exactly how much white hydrogen there is.

There’s a long way to go, but it would be ironic if this region – once one of western Europe’s key coal producers – became an epicenter of a new white hydrogen industry.

Shopper left furious after purchase on dad’s recent grocery store trip: ‘Totally wipes out the benefit’

The Cool Down

Shopper left furious after purchase on dad’s recent grocery store trip: ‘Totally wipes out the benefit’

Kendall Burke – October 29, 2023

A Redditor who found a baffling instance of excessive plastic took to the r/anticonsumption subreddit to voice their frustrations.

The poster said their dad bought the offending cucumber — which was covered in not one, but two layers of single-use plastic — during a recent grocery run, seemingly at U.K. chain Morrison’s, given the branding The Greengrocer’s on Market Street.

“All this plastic for HALF A F******* CUCUMBER,” the frustrated Redditor wrote.

Photo Credit: u/DyeTheSheep / Reddit
Photo Credit: u/DyeTheSheep / Reddit

The image reveals that the package actually contains just half a cucumber, which could be the reason for wrapping it in so much plastic, as cut vegetables and fruit spoil faster than uncut ones. However, that raises the question, why would anyone sell just half a cucumber.

Commenters agreed with the original poster’s sentiment.

One shared, “The other day I saw organic cilantro on a plastic tray, wrapped with plastic. Totally wipes out the benefit of organic.”

Another joked, “Nice I need a plastic bag to transport it too please.”

While plastic wrap can reduce how quickly food spoils, a main cause of consumer-level food waste, it can take anywhere between 20 and 500 years (or more by some estimates) to break down in our landfills and oceans.

Innovative solutions to this issue are being perfected every day. Multiple companies have debuted versions of plastic-free “plastic” wrap, with one particularly cool option that sprays on like a Spiderman web. There are also myriad groups at work on an international and local level to clean up our existing ocean plastic problem.

Hamas ambushes Israel from tunnels near Gaza border

The Telegraph

Hamas ambushes Israel from tunnels near Gaza border

Danielle Sheridan – October 29, 2023

IDF troops on the ground in the Gaza Strip
IDF ground activity in the Gaza Strip

Israeli troops clashed with Hamas for the first time since the ground offensive began in an ambush from its network of tunnels in northern Gaza.

The Israel Defense Forces (IDF) killed several terrorists after spotting them “exiting the shaft of a tunnel in the Gaza Strip” near the Erez Crossing that was stormed on Oct 7.

Israel later said it believed the militants were attempting to cross the border into Israel for another surprise attack.

Hamas said its militants clashed with Israeli troops as they entered the northwest Gaza Strip, using small arms and anti-tank missiles against the armoured convoy.

IDF ground activity in the Gaza Strip
Tanks have moved across the border

Guided by troops on the ground Israeli aircraft also struck two Hamas staging posts, killing several Hamas members, the IDF claimed.

Israel intensified its war with Gaza over the weekend, sending in troops and tanks on Friday night as part of a ground operation aimed at destroying Hamas.

But it stopped short of a full invasion of its forces massing on the Gaza border.https://cf-particle-html.eip.telegraph.co.uk/63d27584-172c-4312-bbc6-2e6a01c01203.html?direct=true&id=63d27584-172c-4312-bbc6-2e6a01c01203&truncated=false&expandable=false

Rear Admiral Daniel Hagari, the Israeli military spokesman, said on Sunday that movement into Gaza would be a “gradual expansion”.

He said: “We will do everything we can from the air, sea and land to ensure the safety of our forces and achieve the goals of the war.”

Analysts have speculated that Israel’s preference for a low-intensity ground offensive betrays concerns about hostages held in Gaza and threats from Arab proxies linked to Hamas.

Israeli army buldozers crossing the border into Gaza, on October 29, 2023
Israeli army buldozers crossing the border into Gaza, on October 29, 2023 – MENAHEM KAHANA

As pressure has mounted on Israel to slow the offensive in order to negotiate the release of hostages, its defence minister Yoav Gallant spoke to families of captives on Sunday.

In an attempt to reassure them, he said: “The ground move is intertwined with the effort to return the kidnapped and is intended, among other things, to increase the chance of returning our people. If there is no military pressure on Hamas, nothing will progress.”

He added: “I have two goals: to return the abductees and win the war, the return of the abductees and locating the missing is a task of utmost importance.”

The ground assault resulted in an almost total communications blackout in the coastal enclave.

An Israeli tank manoeuvres inside the Gaza Strip, as seen from the Israel border
An Israeli tank manoeuvres inside the Gaza Strip, as seen from the Israel border – EVELYN HOCKSTEIN

Meanwhile, as clashes on the Lebanese border escalate, Rear Admiral Hagari said the IDF responded to the fire from Lebanon toward the northern border by striking military targets, infrastructure and posts belonging to Hezbollah overnight.

Lebanon’s Hezbollah said it shot down an Israeli drone over southern Lebanon with a surface-to-air missile.

Hezbollah added that the drone was hit near Khiam, about three miles from the border, and was seen falling into Israeli territory.

Capability to shoot down a drone

Two security sources in Lebanon said it was the first time Hezbollah had announced downing an Israeli drone.

Mohanad Hage Ali, of the Carnegie Middle East Center, said: “They have insinuated they have this capability but it is the first time they declare they have this kind of capability to shoot down a drone.”

The United Nations’ Lebanon peacekeeping force Unifil said one of its members was injured after shells hit its base near the village of Houla on the Lebanese-Israeli border on Saturday.

IDF soldiers with munitions
IDF soldiers with munitions

The clashes with Hamas in northern Gaza are thought to be the first in which militants have emerged from tunnels, but is likely to become a theme of the ground assault.

The Erez Crossing, which was built in 2005 when Israel withdrew its settlers and soldiers from Gaza, was at the time considered a symbol of passage between Israel and Gaza.

The IDF accused Hamas of having deliberately built tunnels next to the crossing, which was formerly used by Gazans to enter Israel for work or medical treatment, in order to “attack the humanitarian crossing and harm everyone in the area”.

Hamas spent two decades building a labyrinthine network of underground tunnels which makes a central part of its defences.https://cf-particle-html.eip.telegraph.co.uk/5bf20ca6-3f78-4b5f-97ec-f32a757dcfed.html?direct=true&id=5bf20ca6-3f78-4b5f-97ec-f32a757dcfed&truncated=false&expandable=falsehttps://cf-particle-html.eip.telegraph.co.uk/7a13177e-311d-4b5a-bc79-7786c96a919a.html?direct=true&id=7a13177e-311d-4b5a-bc79-7786c96a919a&truncated=false&expandable=false

Israel says the tunnels have entrances hidden beneath schools, mosques and houses and are said to be 300 miles long with lighting, electricity and rail tracks for transport.

Accused of psychological games

After Sunday’s clashes, Rear Adm Hagari said: “We killed the terrorists that were on the security fence, who were trying to infiltrate and were trying to attack Israel.”

Mr Gallant accused Hamas on Sunday of playing “psychological games” over hostages after it offered to free all captives in exchange for Palestinian prisoners in Israeli jails.

“The stories published by Hamas are part of their psychological games. Hamas is cynically using those who are dear to us – they understand the pain and the pressure,” he told relatives of some of the 230 hostages.https://cf-particle-html.eip.telegraph.co.uk/f0dff9cd-562a-4bcf-a740-6bd2c38091d9.html?direct=true&id=f0dff9cd-562a-4bcf-a740-6bd2c38091d9&truncated=false&expandable=false

On Saturday, Hamas’s leader in Gaza, Yahya Sinwar, said the group was ready for an “immediate” prisoner swap with Israel.

Mr Gallant said: “They seek the collapse of Israeli society from within and are using the hostages in a brutal manner.

“The military operation is intended, among other things, to increase the chance of returning our people.”

Ezzedine al-Qassam Brigades, the armed wing of Hamas, has said that about 50 hostages have been killed in Israeli strikes, a claim that could not be independently verify.

So far the group has released four hostages.

Those confirmed to be held captive rose to 239 on Sunday.

‘A remarkable role model’: Warren Buffett and Bill Gates call this fellow billionaire their hero — here are 3 big lessons to learn from Charles Feeney

Moneywise

‘A remarkable role model’: Warren Buffett and Bill Gates call this fellow billionaire their hero — here are 3 big lessons to learn from Charles Feeney

Serah Louis – October 29, 2023

'A remarkable role model': Warren Buffett and Bill Gates call this fellow billionaire their hero — here are 3 big lessons to learn from Charles Feeney
‘A remarkable role model’: Warren Buffett and Bill Gates call this fellow billionaire their hero — here are 3 big lessons to learn from Charles Feeney

He was known as the billionaire who gave it all away.

Charles “Chuck” Feeney made his much of his riches selling booze, cigarettes and perfume. The co-founder of the Duty Free Shoppers Group died on Oct. 9 at the age of 92, but fulfilled his pledge to donate the bulk of his $8 billion fortune long before his death.

“Chuck Feeney is a remarkable role model, and the ultimate example of giving while living,” Bill Gates told Forbes back in 2012.

Berkshire Hathaway CEO Warren Buffett presented a Forbes 400 Lifetime Achievement Award to Feeney in 2014, calling him “my hero and Bill Gates’s hero. He should be everybody’s hero.”

Here’s what you can learn from how Feeney managed his money.

Diversification

While building his massive fortune, Feeney didn’t just focus on his global network of duty-free airport stores — he was a prolific investor as well.

By the early 1980s, he was profiting from hotels, property and retail, and he later invested in some tech start-ups. It wasn’t until 1996 that he sold his stake in Duty Free Shoppers for a tidy $1.63 billion that went to his foundation, Atlantic Philanthropies, a deal that multiplied in value by investment returns later, according to the Wall Street Journal.

Feeney followed the golden rule — don’t put all your eggs in one basket — and grew his wealth by diversifying his investments.

Similarly, while you’re buying stocks, make sure you’re not sticking to one company or sector. This will provide some shelter from any unexpected dips in the market. Do your research and build a balanced portfolio of companies or ETFs.

Frugality

Feeney went from purchasing luxurious multimillion-dollar homes — including in London and the French Riviera — to renting a two-bedroom San Francisco apartment with his wife.

Like many folk of his ilk, he once spent his time cruising on yachts and private jets — but decided in his later years to cut back and focus on his philanthropic efforts.

For Feeney, value was more important than showing off his wealth. He flew coach because he wasn’t getting anywhere any faster by opting for a first-class ticket. He wore a $15 watch and used plastic bags in place of a briefcase.

“I just reached the conclusion with myself that money, buying boats and all the trimmings didn’t appeal to me,” he was quoted saying in a 2007 biography about his life, “The Billionaire Who Wasn’t.”

Most importantly, Feeney was intentional with his spending, leaving enough funds behind for his investments and donations.

This is a crucial tenet for managing your money (even if you don’t have billions in your bank account). Consider creating a budget and monitoring your monthly expenses so that you’re leaving some of your income behind for your financial goals, too, such as your emergency savings or nest egg.

Charitable giving

Once dubbed “the James Bond of philanthropy” by Forbes, Feeney is perhaps best known for his charitable giving — despite his attempts to hide it for many years.

Feeney donated to a range of causes, including AIDS relief in South Africa, Operation Smile’s free surgeries for children with cleft lips and palates and earthquake relief in Haiti.

“People used to ask me how I got my jollies, and I guess I’m happy when what I’m doing is helping people and unhappy when what I’m doing isn’t helping people,” Feeney told Forbes.

There are potential financial benefits to charitable giving as well come tax time, as you may qualify for a tidy deduction on your next return.

These are the elite special force units Israel could send into Gaza to clear Hamas’ labyrinth of tunnels and rescue hostages

Business Insider

These are the elite special force units Israel could send into Gaza to clear Hamas’ labyrinth of tunnels and rescue hostages

Nathan Rennolds – October 29, 2023

  • Israel has sent elite troops into Gaza as its ground invasion of the territory ramps up.
  • Herzi Halevi, chief of the general staff of the Israel Defense Forces, said its “best soldiers” were in action.
  • They will be tasked with clearing the Hamas’ labyrinth of tunnels and rescuing over 200 hostages.

Israel has indicated that it had sent elite troops into Gaza as it intensifies its ground operations against Hamas following the October 7 terrorist attacks.

Herzi Halevi, the chief of the general staff of the Israel Defense Forces (IDF), said in an update posted to X, formerly Twitter, that the IDF’s “best soldiers and commanders” were now taking part in the offensive in Gaza.

Halevi said that Israel had entered the next stage of the war as it set about its goal of “dismantling Hamas, securing our borders, and the supreme effort to return the hostages home.”

Here are the special forces units that could see action in Gaza.

Yahalom Unit

One squad that will be crucial in how Israel fares in underground warfare is the Yahalom Unit, which specializes in “locating and destroying” underground and hidden tunnels as well as carrying out sabotage missions, according to the IDF’s website.

Israeli Prime Minister Benjamin Netanyahu recently visited Yahalom fighters, who are known as “weasels,” telling them: “I rely on you. The people of Israel rely on you,” Reuters reported.

Sayeret Matkal

Another important unit will be Sayeret Matkal, Israel’s “field intelligence-gathering unit.”

It carries out intelligence operations behind enemy lines, and, crucially, it conducts hostage recovery missions.

Modeled on the British SAS, it has a storied history, seeing action in the Yom Kippur War and both the First and Second Lebanon Wars. In the latter, it led “raids deep inside Lebanon,” per the IDF.

It  is best known for its role in the 1976 Entebbe airport raid in Uganda, when its commandos saved 100 Israelis from Palestinian hijackers.

Shayetet 13

Shayetet 13 is a marine commando unit involved in ground, maritime, and airborne missions.

Its role encompasses attacking enemy marine infrastructure and intelligence.

The unit has already seen action in the conflict with Hamas, with footage reportedly showing it retaking a military post on the Gaza border following Hamas’ attacks.

https://youtube.com/watch?v=p4n4Ch5gBVo%3Fsi%3DP_d-mOfTFOaQTWna

Shaldag Unit

Shaldag is one of the IDF’s “most elite” squads. It’s tasked with performing many classified operations that are not public knowledge.

Video footage posted by the IDF on YouTube on October 25 appeared to show soldiers from the unit taking out Hamas militants and rescuing people in Kibbutz Be’eri.

https://youtube.com/watch?v=1z8AkAAJk4Y%3Fsi%3DFmTO9t81H4VhXxUW

Duvdevan Commando Unit

The Duvdevan Unit specializes in working in “densely populated civilian areas,” which could prove crucial in Gaza, where a population of more than 2 million people live in a strip of land that’s around 25 miles long and around just eight miles wide at the widest point.

Its forces go undercover among local Arab populations, according to the IDF.

One of its highly-trained specialists, Sgt. First Class Itai Bausi, 22, fought Hamas fighters with his bare hands at  Supernova desert party on October 7, before he was killed, said witnesses, per The Times of Israel.

Egoz Unit

Egoz was specifically created to tackle the threat of the Iran-backed Lebanese militant group Hezbollah, which Israel has been increasingly battling over the last few weeks.

Despite this, the unit now works across any region using guerrilla warfare, but it maintains a special focus on northern Israel.

Maglan Unit

Another unit that operates in enemy-held territory, Maglan’s role is to destroy “specific targets” and build intelligence. It was initially formed in 1986 as an anti-tank warfare unit, per the IDF.

Three soldiers from the unit were killed in southern Israel during the October 7 terrorist attacks, The Times of Israel reported.

Oketz Unit
Solider and dog from the IDF's Oketz (“Sting” in Hebrew) is the IDF's canine unit.
Solider and dog from the IDF’s Oketz (“Sting” in Hebrew) is the IDF’s canine unit.Israeli Special Forces/Facebook

it is Israel’s special forces K9 squad. It works in counter-terrorism and search and rescue missions, and it played a key role in rescuing more than 200 Israeli citizens on October 7, say reports.

The unit was created in 1974 to combat a rise in terrorist attacks on Israel, the IDF says.

Israel’s ground offensive

Israel began its ground offensive on Saturday following an increased wave of airstrikes on the territory — the heaviest bombardment of the conflict so far.

Its military also dropped leaflets across Gaza City, telling people living there to evacuate.

“To the residents of the Gaza Strip: The Gaza governorate (Gaza City) has become a battlefield. Shelters in northern Gaza and Gaza governorate are not safe,” read one leaflet in Arabic, per The Telegraph.

A picture taken from near the southern Israeli city of Sderot on October 28, 2023
An explosion seen from the southern Israeli city of Sderot.ARIS MESSINIS/AFP via Getty Images

Israel has repeatedly claimed that Hamas militants utilize civilian buildings as bases and storage areas, while also building tunnel complexes beneath them to faciliate their operations and transport equipment.

The key to the offensive for Israel will be clearing this “spider’s web” of tunnels that lie beneath the territory, say the IDF.

IDF spokesperson Jonathan Conricus said earlier this month that Hamas had built “a network of tunnels from Gaza City and under Gaza City” down to Khan Yunis and Rafah, turning the strip into “one layer for civilians and then another layer for Hamas.”

“These aren’t bunkers for the Gazan civilians to have access to when Israel is striking. It’s only for Hamas and other terrorists so that they can continue to fire rockets at Israel, to plan operations, to launch terrorists into Israel,” he added.

‘Waiting to get punched in the face’
Soldiers marching with automatic weapons
Israeli soldiers march toward a possible ground fight with Hamas in GazaIlia Yefimovich/dpa

Fighting in the densely populated streets of Gaza and in Hamas’ labyrinth of tunnels could help level the playing field between the two sides, however, as it may diminish the impact of some of the Israeli forces’ technological advantages, The Associated Press reported.

“I usually say it’s like walking down the street waiting to get punched in the face,” John Spencer, a former US Army major and the chair of Urban Warfare Studies at the Modern War Institute at West Point, said, per The AP.

In such situations, those defending “had time to think about where they are going to be and there’s millions of hidden locations they can be in. They get to choose the time of the engagement — you can’t see them but they can see you,” he added.

More than 1,400 Israelis have died since Hamas’ October 7 terrorist attacks, and over 200 Israelis were taken hostage and abducted to Gaza. Gaza’s Health Ministry said the Palestinian death toll is now over 8,000, as a result of Israel’s relentless bombing of the enclave, The AP reported.

Warehouse worker sparks outrage with alarming photo of employer’s shipping practice: ‘We get two to five shipments a week like this’

The Cool Down

Warehouse worker sparks outrage with alarming photo of employer’s shipping practice: ‘We get two to five shipments a week like this’

Laurelle Stelle – October 28, 2023

A frustrated warehouse employee showed the world the wasteful and polluting practice of a company they said they do business with regularly in the r/Anticonsumption subreddit.

Plastic shipping packages are a significant fraction of the world’s plastic problem. Some companies, like Amazon, have said they’ll try to switch to more affordable and eco-friendly alternatives. Other businesses seem utterly unaware of the money they’re losing and the impact they’re having on the environment.

 "It's so much!"
Photo Credit: u/MDGR28 / Reddit

“This clothing company always ships their freight in two inches thick of plastic wrap,” said this fed-up Redditor.

The attached photo showed a shipping pallet in a warehouse in the process of being unwrapped. A pile of wadded plastic beside the pallet was clearly enough to cover it dozens of times over — and there was still more around the merchandise. None of the other pallets in the background had nearly as much packing material wrapped around them.

“It’s so much!” the Redditor complained. “We get two to five shipments a week like this.”

Wrapping pallets this way just doesn’t make financial sense. It takes longer to both wrap and unwrap, wasting employee time that both companies have to pay for — not to mention the cost of the material itself.

Also, as Greenpeace recently pointed out, plastic recycling is difficult, and most plastic never gets recycled. Instead, plastic trash either ends up in landfills or as litter in the environment, including in the ocean, where it is dangerous to wildlife. The best way to prevent that outcome is to minimize the use of disposable plastic to start with.

“There are alternatives that exist. You can have safety without plastic,” said one commenter, sharing a link to a how-to page listing eco-friendly options. “Also, it took me like two seconds to find these alternatives.”

Even a small improvement would be better than nothing, as another user pointed out. “My dad made an arrangement with his local post office for their plastic wrap,” they said. “This stuff is excellent for packing material. Sure beats having to buy packing materials. Does it get tossed by the buyer? Sure, but it’s being reused once, at least, and not immediately discarded by the post office.”

San Diego ranks as most expensive US city with LA and Santa Barbara in the top five

USA Today

San Diego ranks as most expensive US city with LA and Santa Barbara in the top five

Anthony Robledo, USA TODAY – October 28, 2023

A new report may show a new reason why California is called the Golden State.

San Diego was ranked the most expensive city in the nation to live in by U.S. News and World Report’s 2023-2024 list followed by Los Angeles.

The city landed that title through multiple metrics including its inflation rate and the cost of gas. The report also considered living costs from annual housing costs, median gross rent and high fees associated with homeownership.

The report said home prices exceed the national median sale price and added that many in San Diego’s downtown area must pay homeowners association fees to maintain living in housing complexes.

“Living in San Diego is not particularly affordable,” the report reads. “San Diegans are willing to pay these elevated prices, though, often referring to the cost-of-living differences as the ‘sunshine tax,’ or the price of enjoying a year-round temperate climate.”

Los Angeles was ranked the second most expensive city, followed by Honolulu and Miami. California actually made up seven of the top ten spots in the report and around half of the top 25. New York City, the most populated U.S. town, earned the 11th spot.

According to the report, the cities at the top of the list require the most amount of wealth in order to live comfortably.

What are the most expensive cities in the US?

These are the 25 most expensive American cities according to the U.S. News & World Report. For information on each city’s various qualities like value and quality of life, click here.

  • #1 – San Diego
  • #2 – Los Angeles
  • #3 – Honolulu
  • #4 – Miami
  • #5 – Santa Barbara, Calif.
  • #6 – San Francisco
  • #7 – Salinas, Calif.
  • #8 – Santa Rosa, Calif.
  • #9 – San Juan, Puerto Rico
  • #10 – Vallejo and Fairfield, Calif.
  • #11 – New York City
  • #12 – Boston
  • #13 – Seattle
  • #14 – San Jose, Calif.
  • #15 – Sacramento, Calif.
  • #16 – Denver
  • #17 – Stockton, Calif.
  • #18 – Washington, D.C.
  • #19 – Modesto, Calif
  • #20 – Fresno, Calif.
  • #21 – Portland
  • #22 – New Haven, Conn.
  • #23 – Boulder, Colo.
  • #24 – Trenton, N.J.
  • #25 – Eugene, Ore.

Orkin ranking: Chicago holds rattiest city for 9th straight year as LA takes #2 spot from New York

Report ranks pricey cities on four indexes

U.S. News & World categorizes the rankings of each city on the following indexes:

  • Quality of Life Index – 36%
  • Value Index – 23%
  • Desirability Index – 22%
  • Job Market Index – 19%

Sen. Kyrsten Sinema voted to limit background check reporting hours before Maine shootings

AZ Central – The Arizona Republic

Sen. Kyrsten Sinema voted to limit background check reporting hours before Maine shootings

Laura Gersony, Arizona Republic – October 28, 2023

An Army reservist, who has reportedly shown symptoms of mental health issues in recent months, allegedly shot and killed 18 people Wednesday in Lewiston, Maine.

Earlier that day, the U.S. Senate voted to approve a Republican-led amendment that would limit the Department of Veterans Affairs’ ability to relay information about some veterans, including those with certain mental health issues, to an FBI database used for gun background checks.

Sen. Kyrsten Sinema, I-Ariz., was one of only five non-Republican senators to vote in favor of the measure.

According to the bill’s sponsor, the VA is required to report people to the FBI’s criminal background check system whenever a fiduciary is appointed to help the person manage their VA benefits.

The Senate-approved amendment would prohibit the VA from relaying that information to the database, unless a judge rules that the person poses a danger to themselves or others.

A spokesperson for Sinema defended her vote, noting that the amendment would not change federal requirements for background checks, and is geared toward limiting the VA’s role in determining whether a person is mentally fit to own a gun.

“Kyrsten voted to ensure a judge — not a bureaucrat at the VA — was responsible to determine whether a veteran was a danger to themselves or others, just as judges make that determination for civilians,” the spokesperson wrote.

Research suggests that most mass murders are not committed by severely mentally ill people, and that people with mental illness are more likely to be victims of violent crime than perpetrators of it.

The suspect in the mass shooting, Robert Card, was committed to a mental health facility for two weeks over the summer because he was “hearing voices” and threatening to shoot up a military base in Saco, Maine, several news outlets have reported.

It is not immediately clear whether the amendment would have applied directly to Card. Jaclyn Schildkraut, a gun policy expert with the Rockefeller Institute of Government, noted that only certain specific criteria in federal law limit people’s right to have a gun, such as a person being deemed, as the law puts it, a “mental defective” or being committed to a mental institution, rather than going to one voluntarily.

A VA spokesperson said they could not say for sure whether Card fell into those categories and said that Card used VA education benefits in 2004, but he has not used or applied for any VA benefits since.

“Effectively it is too early to determine whether this bill would have any relevance to the Maine shooting as there are just a lot of unknowns,” wrote Schildkraut, the gun policy expert, in an email to the Arizona Republic.

Asked on Friday about Sinema’s vote, Rep. Ruben Gallego, D-Ariz., who is running for the Senate seat she currently holds, said that he would have voted against the measure.

“Our criminal background system is very important. It’s one of the few things that does work to stop people that shouldn’t be owning weapons (from) buying weapons. And anything that diminishes that, I think, is not going to keep Americans safe,” Gallego said Friday at a news conference on another topic.

‘We were living our best lives’: This 32-year-old says he had more financial freedom working at Chili’s in 2012 than he does now with a much higher income — here’s why

Moneywise

‘We were living our best lives’: This 32-year-old says he had more financial freedom working at Chili’s in 2012 than he does now with a much higher income — here’s why

Sabina Wex – October 28, 2023

'We were living our best lives': This 32-year-old says he had more financial freedom working at Chili's in 2012 than he does now with a much higher income — here's why
‘We were living our best lives’: This 32-year-old says he had more financial freedom working at Chili’s in 2012 than he does now with a much higher income — here’s why

While it’s not hard to get a millennial to indulge in some nostalgia for the 2010s — the decade many of their cohort entered adulthood and the workforce — what’s got them reminiscing about their younger years lately may come as a surprise.

Although many were fresh out of college, still figuring things out and living on minimum wage, they’d likely hesitate to characterize their past selves as “young, dumb and broke.” But not necessarily because they remember themselves as wise and mature.

As Mordecai Nuccio explains in a recent TikTok, he feels like he had more disposable income back in 2012 compared to now — an assertion that’s been making the rounds on TikTok.

“We were making minimum wage, but we were living our best lives,” Nuccio, a 32-year-old photographer, says about his time living on minimum wage working as a food runner at Chili’s.

He adds that a big part of his current financial stress is thanks to his increased credit card and student loan debts. Even though he makes more money and lives in a double-income household with his fiancé, he feels more squeezed.

Here’s how do you get back to living your best life now that you should have more cash flow.

Tackle debt

Back in 2012, Nuccio says he had “minimal” credit card debt. But that’s changed as his expenses have increased — and he’s got his student loans to think of too.

While expenses tend to increase as you age and take on more responsibilities, making more often translates into spending more. Millennials love splurging on experiences, but that can quickly wander into risky spending habit territory.

Living on borrowed money can get expensive once you start to factor in interest but it can be overwhelming to get out of that vicious cycle. If you’ve racked up a couple of balances, one way to start picking away at your debt in a manageable way is to use the “debt avalanche method,”. Here’s how it works: you pay off your highest interest loan debt first, and only make minimum payments on all your other debts.

Once you’ve paid off the highest interest loan, you move on to the next highest interest debt, and so on — until, voila, all your debt has disappeared.

Read more: Thanks to Jeff Bezos, you can now use $100 to cash in on prime real estate — without the headache of being a landlord. Here’s how

Consolidate your debt

Up until fairly recently, student loan payments were suspended. But their return means that borrowers like Nuccio need to figure out how to fit these payments back into their monthly expenses.

Unfortunately, 28% of student loan borrowers say they’ll need to take on additional debt to maintain their household payments and repay their student debt, according to a recent Achieve survey.

When you’re robbing Paul to pay Peter, things can get messy. But consolidating your debts can make this a little easier. If you have private student loans and credit card debt, you might consider refinancing your loan.

Even though it means taking on another loan, if you’re able to find an offer at a lower rate than your current accounts, you’ll save yourself plenty in interest over the life of the loan. Plus, by pooling your debts, you’ll only have to worry about making a single monthly payment, which will hopefully make your life a little easier.

Lower your cost of living

Nuccio mentions that he lived in Tampa, Florida in 2012 when he worked at Chili’s, but has since moved to New York City to pursue photography. Though this may have been a good move for his career, it’s bad news for his debt.

Though Nuccio doesn’t explicitly say which borough he lives in, New York’s Manhattan is the most expensive city in the U.S., according to the Council for Community and Economic Research’s (CCER) most recent data. Though several Florida media outlets report Tampa is the Sunshine State’s most expensive city, it still doesn’t rank on the CCER’s list of priciest cities across the country.

So part of your plan to pay back your debt may need to include your locale. If you live in an expensive city like New York, it’ll likely take you longer to pay off your debt than a cheaper city like Tampa.