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Millennials can now afford homeownership, causing a shortage

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Millennials can now afford homeownership, causing a shortage

So close, and yet so far. 

As various factors finally make homeownership attainable for frequently maligned millennials, a new hurdle has appeared: Not enough houses to go around. 

According to recent findings by investment bank Jefferies, younger millennials between ages 25 and 29 are increasingly buying their first pads, and 30- to 34-year-olds are doing so at even higher rates, Insider reported. 

The only problem is there aren’t enough starter homes available, an issue that’s existed since before the coronavirus pandemic and is a result of profit-seeking real-estate investors buying the pads, increasingly expensive construction costs and more restrictive zoning rules. 

Despite being much less economically well-off than previous generations were at their age, millennials in fact led home-buying in 2020, significantly motivated by the pandemic. According to an Apartment List’s Homeownership report, 40 percent of the age group now own homes, while a Clever Real Estate survey notes that 30 percent started house-hunting earlier than planned due to COVID-19. 

But unless contractors can somehow quickly construct 2.5 million homes — the amount America is short on, according to Jefferies — in the next year, millennials may be left holding yet another form of unfortunate financial cards. 

In another recent real estate boom significantly inspired by the pandemic, sales of homes built more than 100 years ago rose by 16 percent in 2020 in the tri-state area compared to last year, with a median sale price of $236,000, The Post reported earlier this month. 

Not booming during that same period, however, were New York City pads, which saw a 6 percent overall sales decline. That trend has a few notable exceptions, however, including Brooklyn townhouses — for which demand is relatively sky-high.

“I have seen more demand for brownstones, too, especially in Brooklyn, where the market seems to be on fire. There is more demand for properties with outdoor space, and bigger apartments where buyers can carve out home office space as well,” Melissa Cohn, an executive mortgage banker at William Raveis Mortgage, told The Post this month.

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Florida fisherman chased by 11-foot alligator in scary video

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Florida fisherman chased by 11-foot alligator in scary video

A Florida fisherman became the bait when he was chased by an alligator in the Everglades.

GoPro video captured the near-death experience when Tommy Lee was tarpon fishing on May 8.

The 22-year-old was recording himself fishing at sunrise when an 11-foot bull alligator swam onshore. As Lee backed up, the reptile chased him through the brush, getting too close for comfort.

It “stalked me then chased me,” he told ViralHog. “The gator appeared much larger and closer in person. It got within 10 feet of me.”

At one heart-pounding moment, Lee tripped and fell to the ground, but quickly regained his footing and continued to back up.

In the two-minute video, you can hear the frazzled fisherman exclaiming, “Jesus Christ. You gotta be careful here.” But as he lost sight of the deadly creature, he retraced his steps following the animal until it splashed back in the water.

“And I am out of here,” Lee said to himself before grabbing his gear and turning off the camera.

Lee uploaded the shocking clip to his YouTube channel, Chum Dumpster, where it amassed 1.2 million views.

However, it isn’t too surprising that the sharp-toothed creature came out to play. May and June mark mating season for the more than one million alligators that live in Florida.

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KFC hackers jailed in China over $31,000 worth of chicken

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KFC hackers jailed in China over $31,000 worth of chicken

The Chinese students who scored a five-finger-lickin’ discount at Kentucky Fried Chicken — for a total of $31,000 worth of food — are going to prison.

Their scam took place in 2018 after one of them discovered a glitch on KFC’s online order platform, allowing them access to an endless supply of fried chicken.

The five college con artists involved in the grift were handed down a range of sentences by the People’s Court of Xuhui District in Shanghai, from 13 to 30 months, according to Daily Mail and recent Chinese-language reports, with fines set between $150 (1,000 yuan) and $900 (6,000 yuan).

“Being fully aware of this bug, the convicted deliberately engaged in false transactions and illegally profited from them, which constituted the crime of fraud,” court papers read, according to Australia’s 9News.

The group’s 23-year-old ringleader, identified only as “Xu,” defrauded the company out of some $9,000 (58,000 yuan). All told, they stole more than $31,000 (129,000 yuan) worth of food from Yum! Brands, which owns the KFC name.

The simple scheme involved a loophole between KFC’s app and the restaurant’s page on Chinese social network WeChat, which allowed Xu to use a voucher for free food while also being refunded. It’s been reported that Xu later began shilling out the free food he’d reaped as a side hustle.

The case has reportedly sparked debate online, according to Global Times, with some saying that a bug in KFC’s order system is on the corporation — not the customers who reaped the spoils of their mistake.

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Brood X cicadas force businesses, homeowners to take precautions

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Brood X cicadas force businesses, homeowners to take precautions

Brood X, a classification of the trillions of periodical cicadas that have descended in states across the eastern and southern U.S., has emerged after a 17-year hiatus — and already closed one restaurant.

The District of Columbia and the surrounding states of Maryland and Virginia are cicada ground zero, reporting sightings earlier than most other states. 

More of the red-eyed, singing insects will appear as ground temperatures warm to 64 degrees and experts say that the bugs come in peace. 

However, a Michelin-starred restaurant in Washington, D.C., announced this week that it was temporarily closing on May 10 in order to “combat” the bugs. 

“We have decided to pause service at Little Pearl for 4 weeks starting May 10th in preparation for ‘Cicada Season,’” Capitol Hill’s Little Pearl wrote in an email to customers, according to The Washington Post. “As we tried to get as creative as possible to combat them this year, we know in good faith that a single 100 decibel cicada will ruin anyone’s dinner experience, a ‘tsunami’ of them will be impossible to control.”

Washingtonian noted that the restaurant offered to reschedule, refund bookings or move diners’ reservations to their sister restaurant Rose’s Luxury.

Rose’s Restaurant Group owner and chef Aaron Silverman told the local magazine that Little Pearl’s closing is also “to renovate, clean, reorganize, up-train, and get all our affairs in order as the pandemic caused so many disruptions.”

In addition, he said that because around 80% of the restaurant’s seating is outdoors in a “heavily vegetative area,” it “seemed like the best window to take advantage of.”

Many businesses have decided to embrace the arrival of Brood X, selling coffee mugs and “Choco-cadas.”

Nevertheless, while the cicadas aren’t dangerous, their presence can be disruptive. 

As WCPO reported on Monday, the cicadas’ loud buzzing sounds may cause emotional or physical reactions in people with autism or with sensory issues.

Furthermore, although cicadas do not bite and are harmless to humans and property, Michigan State University entomologist Gary Parsons notes that their abundance can be a “nuisance” and that — while edible — eating too many could make pets sick.

While cicadas do not intentionally enter homes like ants and spiders, cicada eggs laid in stems and twigs of trees and shrubs often kill twigs and branches. 

Experts advise against using insecticide, as the chemicals will kill other bugs in the process.

The Baltimore Sun reported last week that an effective way to prevent damage on young trees is to enclose them with half-inch mesh netting, though the University of Maryland’s professor emeritus Michael Raupp advises planting next fall. 

Raupp told Fox News in March that people who might be afraid of cicadas should try to learn as much about them as they can.

“Hey, this is a chance to go out in your backyard and have a National Geographic special happening right there,” he said. “It’s going to be birth. It’s going to be death. It’s going to be predation. It’s going to be competition. It’s going to be better than an episode of ‘Outlander.’ There’s going to be romance in the treetops when the big boy band cranks it up.”

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