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On November 26, Seoul solidified its standing as a global powerhouse, earning 37th in the Brand Finance Global City Index 2024, surpassing metropolises like Beijing, Montreal, and Prague. This recognition reflects Seoul's increasing influence as a dynamic city characterized by innovation, a skilled workforce, and a rich cultural tapestry. The index, derived from insights from over 15,000 respondents across 20 nations, evaluates cities based on key metrics like Familiarity, Reputation, and Consideration. Respondents assessed 100 cities on various attributes such as culture, heritage, business potential, and investment prospects. A standout in the Business & Investment category, Seoul ranks 11th for 'future growth potential,' showcasing its promise in economic expansion. Its business allure is further enhanced by a significant improvement in 'corporate tax attractiveness,' leaping to 22nd place and enticing global investors. Seoul also advances as an innovation hub, securing the 7th spot in 'great for start-ups and innovations,’ reflecting a dynamic ecosystem primed for entrepreneurial success. As a magnet for global talent, Seoul ranks 7th worldwide for 'access to a skilled workforce,' underscoring its status as an ideal locale for professionals and industry leaders. The city also excels in the Culture & Heritage arena, ranking 9th for its vibrant shopping, dining, and nightlife, and 24th for its rich cultural festivals. In education and science, Seoul shines as the 21st 'global leader in science and technology,’ bolstered by its private schools, which rank 27th, reinforcing its academic and research appeal. Seoul's liveability has seen remarkable improvement, ascending 30 ranks to become the 30th most 'affordable city,' taking into account housing and education. The city is noted for its 'reliable and accessible internet connectivity' (18th) and 'good-quality healthcare' (31st). In sustainability, Seoul ranks 33rd as a 'clean city that cares for the environment' and jumps 31 places to 14th for 'ease of cycling,' demonstrating its commitment to eco-friendly planning and sustainable transport. "Seoul's climb to 37th in the Brand Finance Global City Index 2024 underscores its appeal as a global business and cultural hub. From its robust start-up culture to its affordability, Seoul is increasingly becoming a top choice for investors, talent, and travelers," remarked Alex Haigh, Managing Director Asia Pacific, Brand Finance. Global Landscape London retains its status as the world's top city brand, excelling in Familiarity and Reputation. Despite this, the city faces challenges in Consideration due to affordability concerns. New York and Paris take the 2nd and 3rd spots, with Paris leading in Culture & Heritage and New York in Education & Science. Tokyo rises to 4th, noted for its leadership in science and technology, while Dubai, now 5th, boasts a strong reputation and ranks high in future growth potential and investment appeal. "The 2024 study reveals the nuanced impact of familiarity on city perceptions. London's overall brand strength is strong, yet its desirability in some areas has waned, providing valuable insights for city strategists worldwide," commented David Haigh, Chairman and CEO of Brand Finance. This extensive study, now featuring regional insights like the US City Index, equips city leaders globally with vital understanding of the top city brands, guiding effective growth strategies.
When you drive around the Lakes Region, you will see a considerable amount of new construction and remodeling taking place in the towns and cities. A lot of new single-family homes and condominiums have popped up, and the lumber yards have been bustling. Laconia, for example, has seen a major increase in the number of new condominium developments and subdivisions approved, with many of them well underway. I personally counted 11 new projects underway or approved, plus three more going up for approvals. In total, it represents close to 800 new housing units; if you add this total to the new proposal plan for the 217 acres at the former Laconia State School with 2,000 housing units proposed conceptually, the total could reach 2,800 housing units. That’s a lot of proposed activity for a city the size of Laconia, which brings into question what the absorption will be. The Lakes Region's charm lies in its natural beauty and its small-town atmosphere ... Qualities that are threatened if development is not thoughtfully managed. We have multiple lakes and mountains in the region that we all should strive to protect and preserve for future generations. Laconia, over the years, has attracted many developers because it’s the hub of the beautiful Lakes Region. The availability of city water and sewer, as well as higher-density zoning ordinances makes the city attractive to developers. Additionally, Laconia’s newer performance zoning regulations allow for more flexibility in development projects, and as a result, the overall density of projects can increase considerably. West End Yards in Portsmouth is an example of a higher-density neighborhood destination. Tuscan Village in Salem, with 170 acres, is proposing a total of 1,785 housing units which includes a mix of condominiums and apartments with retail, restaurants, etc. Woodmont Commons in Londonderry is another example of higher-density neighborhoods, with 1,485 housing units proposed on the 600-acre site. The land plan also includes retail stores, restaurants, office space, and amenities. So, Laconia is at the cusp of seeing higher-density developments similar to the above projects at the former state school land. More input is needed from the residents of our communities to ensure that growth comes responsibly. Since 1976 I have been involved in the marketing and sale of over 100 different developments and resort properties. Totaling 2,486 housing units and over 600 resort rooms. Roche Realty Group has been involved in over 10,000 real estate transactions throughout New Hampshire. I’ve also experienced the cycles that came with growth and economic expansion. It’s been rewarding to see the various communities unfold that I’ve been involved in. The Grouse Point Club, South Down Shores, Long Bay on Winnipesaukee, Samoset Condominiums, and so many other developments. Plus, nine marinas and the conversion of four into condominiums as well as a large number of cottage colony and motel conversions into a condominium form of ownership. Every time I drive by each of these projects, I feel a sense of accomplishment but, most importantly, a contribution to the overall appeal of our Lakes Region. The evolution of balancing development and growth while preserving the very essence that makes it special. I’ve learned a lot over close to five decades of real estate experience in the Lakes Region and the many cycles that followed each decade. For example, the 1980s were dynamic and a lot of fun for many real estate professionals in the Lakes Region. The decade let off with a recession, high unemployment and business failures at their highest levels since 1932. The decade became known for its outrageous greed, with lots of free and easy capital and higher doses of leverage. Leverage can magnify gains as well as losses. It resulted in the creation of one of the best buying opportunities I’ve seen in real estate or one of the worst real estate depressions in history. Imagine paying 18% interest on a 30-year variable rate mortgage with a five cap over the life of the loan. It’s almost unthinkable, but that was the reality for homebuyers throughout the Lakes Region in October 1981. In the early 1980s, the Federal Reserve was waging a war with inflation. In an effort to tame double-digit inflation, the central bank drove interest rates higher to epic levels topping out at 18.4%. Because of the tough economic conditions in the early ‘80s, Ronald Reagan and Congress passed the Economic Recovery Act in 1981. As a result, real estate became a favorite tax shelter, and many syndications, real estate, trusts, and developments proliferated throughout the country. At the same time, the Federal Reserve lowered the interest rates to stimulate real estate activity. Deregulation of the savings and loan industry allowed thrifts to lend out money in a more aggressive manner, and at the same time, commercial banks were feeling the effects of competition and increased their allocations to real estate, including leverage financing of residential development and commercial projects. By the end of the decade, real estate amounted to approximately 35% of commercial bank assets. The influx of money translated into incredible development activity surrounding Lake Winnipesaukee. In my 48-year real estate career, I have never seen so many new developments and condominium projects start up throughout the Lakes Region. I went back and counted a total of 45 new condominium developments, which were started in the 1980s. They were popping up like dandelions in the spring. Because of the huge demand for workers, contractors were coming up from Texas, Florida, and Mexico. It was literally an unparalleled housing boom. Sufficient to the coin phrase, “The go-go ‘80s.” New Hampshire’s success throughout the 1980s seemed invincible. In 1986, New Hampshire housing stats increased to a high of 22,000 units. In the Lakes Region, we were selling condominium homes to clients benefiting from the Reagan administration‘s defense buildup and the remarkable rise of the Boston-based computer industry. The real estate market, however, was built on frail earth. The pipeline of high-tech jobs slowed dramatically, and there were two other national events that caused the real estate boom to flatten and take a nosedive. The first event was the Tax Reform Act of 1986. The second event was black Monday, the stock market crash of Oct. 19, 1987. What happened next was a real estate bust just as epic as the boom that preceded it; jobs vanished, banks failed, and unsold condos littered the market. With increased real estate loan defaults, a large number of northeastern banks failed (111 banks from 1990-92.) I think five of New Hampshire‘s largest banks closed during this time. Growing up as a kid in Manchester, I always remembered the huge neon Amoskeag Bank sign at the corner of Elm and Hanover streets. It was right across the street from my father‘s law office. To see that sign go down was a shock to everyone in New Hampshire. It was not fun, meandering through the foreclosure process that followed. Instead of real estate ads, the papers were littered with foreclosure notices and real estate auction ads. The speed and tenacity of the auction process ultimately led to a quick de-acceleration of real estate values. Which literally took a decade to rebalance. So where are we now? During the past 10 years, we haven’t seen the huge new construction build-up we experienced in the 1980s, and we haven’t seen the same leverage either. Basically, what we are doing today is reselling all of the products that were built in the 1980s, plus some new projects. We have a stable market with limited inventory for certain types of properties. Yes, prices have increased substantially since the 1980s, that’s a natural phenomenon; we’ve been blessed with an extremely low-interest rate environment during the last decade. Yes, the Federal Reserve has slowly increased interest rates in order to harness a strong economy and dampened inflation worries. Boston right now is providing us with a strong headwind, and we’ve been fortunate that their strong market has been a great incubator for second home sales surrounding Lake Winnipesaukee. Have we learned from our mistakes during the 1980? Only time will tell. ••• This article was written by Frank Roche, president of Roche Realty Group with offices in Meredith and Laconia, and can be reached at 603-279-7046. Visit rocherealty.com to learn more about the Lakes Region and its real estate market.Schieffelin has 18 points, 13 rebounds and 8 assists as Clemson hands Penn State first loss 75-67
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WASHINGTON (AP) — A lead organization monitoring for food crises around the world withdrew a new report this week warning of imminent famine in north Gaza under what it called Israel's “near-total blockade,” after the U.S. asked for its retraction, U.S. officials told The Associated Press. The move follows public criticism of the report from the U.S. ambassador to Israel. The rare public challenge from the Biden administration of the work of the U.S.-funded Famine Early Warning System, which is meant to reflect the data-driven analysis of unbiased experts, drew accusations from aid and human-rights figures of possible U.S. political interference. A finding of famine would be a public rebuke of Israel, which has insisted that its 15-month war in Gaza is aimed against the Hamas militant group and not against its civilian population. U.S. ambassador to Israel Jacob Lew earlier this week called the warning by the internationally recognized group inaccurate and “irresponsible ." Lew and the U.S. Agency for International Development, which funds the monitoring group, both said the findings failed to properly account for rapidly changing circumstances in north Gaza. Humanitarian and human rights officials expressed fear of U.S. political interference in the world's monitoring system for famines. The U.S. Embassy in Israel and the State Department declined comment. FEWS officials did not respond to questions. “We work day and night with the U.N. and our Israeli partners to meet humanitarian needs — which are great — and relying on inaccurate data is irresponsible,” Lew said Tuesday. USAID confirmed to the AP that it had asked the famine-monitoring organization to withdraw its stepped-up warning issued in a report dated Monday. The report did not appear among the top updates on the group's website Thursday, but the link to it remained active . The dispute points in part to the difficulty of assessing the extent of starvation in largely isolated northern Gaza. Thousands in recent weeks have fled an intensified Israeli military crackdown that aid groups say has allowed delivery of only a dozen trucks of food and water since roughly October. FEWS Net said in its withdrawn report that unless Israel changes its policy, it expects the number of people dying of starvation and related ailments in north Gaza to reach between two and 15 per day sometime between January and March. The internationally recognized mortality threshold for famine is two or more deaths a day per 10,000 people. FEWS was created by the U.S. development agency in the 1980s and is still funded by it. But it is intended to provide independent, neutral and data-driven assessments of hunger crises, including in war zones. Its findings help guide decisions on aid by the U.S. and other governments and agencies around the world. READ: A spokesman for Israel's foreign ministry, Oren Marmorstein, welcomed the U.S. ambassador's public challenge of the famine warning. “FEWS NET - Stop spreading these lies!” Marmorstein said on X . In challenging the findings publicly, the U.S. ambassador "leveraged his political power to undermine the work of this expert agency,” said Scott Paul, a senior manager at the Oxfam America humanitarian nonprofit. Paul stressed that he was not weighing in on the accuracy of the data or methodology of the report. “The whole point of creating FEWS is to have a group of experts make assessments about imminent famine that are untainted by political considerations,” said Kenneth Roth, former executive director of Human Rights Watch and now a visiting professor in international affairs at Princeton University . “It sure looks like USAID is allowing political considerations -- the Biden administration’s worry about funding Israel’s starvation strategy -- to interfere." Israel says it has been operating in recent months against Hamas militants still active in northern Gaza. It says the vast majority of the area’s residents have fled and relocated to Gaza City, where most aid destined for the north is delivered. But some critics, including a former defense minister, have accused Israel of carrying out ethnic cleansing in Gaza’s far north, near the Israeli border. North Gaza has been one of the areas hardest-hit by fighting and Israel’s restrictions on aid throughout its war with Hamas militants. Global famine monitors and U.N. and U.S. officials have warned repeatedly of the imminent risk of malnutrition and deaths from starvation hitting famine levels. International officials say Israel last summer increased the amount of aid it was admitting there, under U.S. pressure. The U.S. and U.N. have said Gaza’s people as a whole need between 350 and 500 trucks a day of food and other vital needs. But the U.N. and aid groups say Israel recently has again blocked almost all aid to that part of Gaza. Cindy McCain , the American head of the U.N. World Food Program, called earlier this month for political pressure to get food flowing to Palestinians there. Israel says it places no restrictions on aid entering Gaza and that hundreds of truckloads of goods are piled up at Gaza’s crossings and accused international aid agencies of failing to deliver the supplies. The U.N. and other aid groups say Israeli restrictions, ongoing combat, looting and insufficient security by Israeli troops make it impossible to deliver aid effectively. Lew, the U.S. ambassador, said the famine warning was based on “outdated and inaccurate” data. He pointed to uncertainty over how many of the 65,000-75,000 people remaining in northern Gaza had fled in recent weeks, saying that skewed the findings. FEWS said in its report that its famine assessment holds even if as few as 10,000 people remain. USAID in its statement to AP said it had reviewed the report before it became public, and noted “discrepancies” in population estimates and some other data. The U.S. agency had asked the famine warning group to address those uncertainties and be clear in its final report to reflect how those uncertainties affected its predictions of famine, it said. “This was relayed before Ambassador Lew’s statement,” USAID said in a statement. “FEWS NET did not resolve any of these concerns and published in spite of these technical comments and a request for substantive engagement before publication. As such, USAID asked to retract the report.” Roth criticized the U.S. challenge of the report in light of the gravity of the crisis there. “This quibbling over the number of people desperate for food seems a politicized diversion from the fact that the Israeli government is blocking virtually all food from getting in,” he said, adding that “the Biden administration seems to be closing its eyes to that reality, but putting its head in the sand won’t feed anyone.” The U.S., Israel’s main backer, provided a record amount of military support in the first year of the war. At the same time, the Biden administration repeatedly urged Israel to allow more access to aid deliveries in Gaza overall, and warned that failing to do so could trigger U.S. restrictions on military support. The administration recently said Israel was making improvements and declined to carry out its threat of restrictions. Military support for Israel’s war in Gaza is politically charged in the U.S., with Republicans and some Democrats staunchly opposed any effort to limit U.S. support over the suffering of Palestinian civilians trapped in the conflict. The Biden administration’s reluctance to do more to press Israel for improved treatment of civilians undercut support for Democrats in last month’s elections. ___ Sam Mednick and Josef Federman in Jerusalem contributed to this report. Copyright 2024 The Associated Press . All rights reserved. This material may not be published, broadcast, rewritten or redistributed.None