Hi, today we explore: (1) NYC's new rule affecting Airbnb, (2) Mexico's imports to the US are rising, (3) Record apartment construction in the US. TOGETHER WITH Today's Topics Hello! The product development team at Gatorade is getting back to basics with its latest effort, ditching the fluorescent colors and super-sweetness to release... water. Unflavored, [electrolyte-infused water.]( Today we're exploring: - Empty: Airbnbs are disappearing after an NYC rule change.
- Made in Mexico: Imports from America's southern neighbor are rising.
- Building blocks: Apartment construction is booming. Have feedback for us? Just hit reply â we'd love to hear from you! [Read this on the web instead]( Concrete jungle where rules are made Whether theyâre renting out an empty pad while away to make some extra cash, or hosting travelers as a full-time job, thousands of New York City Airbnb ownersâ lives have become a lot more complicated thanks to a new government crackdown on short-term rentals that came into effect [on Tuesday](. Under the new regulations â alongside other longstanding, often-ignored [legislation]( â rental hosts now have to register with the city government, leave all doors within the property unlocked, limit their stays to 2 guests for short-term rentals⦠and hosts [must be present]( for any bookings under 30 days, giving renters a likely-unwanted roommate. Rental guidance While the new rules apply across all rentals, theyâve undoubtedly hit Airbnb and the thousands of New Yorkers who host on the platform hardest. Data from InsideAirbnb ([via Gothamist]( reveals that some 15,000 short-term listings have disappeared from the site in a matter of days â with many reclassifying as âlong-termâ listings overnight. There are also reports of many Airbnb hosts taking their potential bookings âoff-platformâ, negotiating privately with their would-be guests instead. For Airbnb as a business, the effects are likely to be pretty negligible. One lawsuit claims the company made $85m from [NYC]( last year â a princely sum, but only roughly 1% of its $8.5bn total. Investors seem unbothered too â Airbnb shares are up 9.7% in the last 5 days, as the company looks set to join the S&P 500 Index. The great wobble The worldâs second-largest economy continues to limp along, as China reported this week that both its imports and exports fell in August. The country, often hailed as the âfactory of the worldâ, reported that exports were down 8.8% year-on-year, the fourth consecutive month of decline. The news adds to the uneasy feeling that Chinaâs economy is wobbling. Growth has slowed to an anemic quarterly figure of +0.8%, consumer demand remains tepid, factory activity has recorded 5 consecutive months of [contraction]( the countryâs property market is in a slump, and youth unemployment has surged to such alarming levels that the government has stopped [reporting]( the figures. Some analysts are even suggesting that Chinaâs economy may never eclipse that of the United States â a changing of the guard that seemed inevitable just a few years ago. Made in Mexico Meanwhile, talking about changes of the guard, Chinaâs malaise has come at the benefit of the USâs southern neighbor. Indeed, Mexico, like its popular pilsner [âModelo Especial]( has become Americaâs preferred choice, accounting for 16% of US imports over the past 3 months, up from ~12% a decade ago. The silver lining for the Chinese economy is its burgeoning electric vehicle industry â car exports have surged by over 100% during the January to August period, largely thanks to the rapid [growth of BYD](. [Sponsored by Equi]( Not all alts are created equal Nervous about the markets going south? Try something different. Alternatives can diversify your portfolio and protect against market volatility â but only if theyâre truly uncorrelated. Many assets, including many private equity funds, real estate funds and even the iconic 60 / 40 portfolio, just end up exposing you to the same risks that threaten vanilla stock portfolios. Enter [Equi](. [Equi]( is striving to bring investors the most uncorrelated alternatives from a database of over 12,000 private funds. As a team of seasoned portfolio and risk managers, [Equi]( aims to offer only the top 0.1% of strategies to investors. And theyâre right alongside you â 70% of Equiâs foundersâ liquid net worth is invested on the platform. With Equi's proprietary overlay [hedging strategy Equi Hedge]( the ups and downs of stocks donât have to be your ups and downs. [Harness the power of alternative investing with Equi]( Apartmentalize The US is on course to complete construction on over 460,000 new apartment units in 2023 â the highest figure on record according to estimates from industry experts at [RentCafe]( â with 33,000 new apartments in the New York Metro area alone. The building boom has seen over 1.2 million new units delivered in the last 3 years, with the gap between single-family home and apartment construction opening to its widest point in [almost 50 years](. Unaffordable housing Some are celebrating the news, hoping that the flood of new apartments will translate into cheaper rent and lower house prices. Others are less optimistic, noting that â even as apartment construction hits multi-decade highs â the amount of units that lower-income groups can actually afford has been sliding [the other way](. Indeed, RentCafeâs report classified 89% of the new apartments as âhigh-endâ properties targeted at upper-middle- and high-income earners. Think more âboutique Airbnbâ and less âaffordable starter apartmentâ. More Data ⢠Dictionary.com has unveiled some of the 566 new words it's adding this fall, the collection includes [blursday and algo](. ⢠Apple's shares have fallen more than 6%, knocking ~$200bn off its value, following reports that Chinese government officials have been banned from [using iPhones](. ⢠Alternative investment platform [Equi]( outperformed the S&P 500 by >20% in 2022 across 3 different funds, on average. Equi is leading the way in uncorrelated alts that diversify and protect investment portfolios against market fluctuations â [check it out]( ⢠The Mexico City Marathon has disqualified ~11,000 runners for taking shortcuts on the course, with some even using vehicles or [public transport](. ⢠A 44-year-old marathon runner has been stopped from attempting to run across the Atlantic Ocean in a human-sized [hamster wheel](. **This is sponsored content. Hi-Viz ⢠Pizza tour: Look up the best pizza places for each style in [every](. ⢠Striking visuals revealing how some Delhi homes were turned to rubble ahead of this weekendâs [G20 summit](. Off the charts: Views for whose Wiki page spiked massively exactly a year ago today? [Answer below]. [Answer here](. Thanks for reading. See you on Sunday for our deep dive!
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