☕ Housing market race

SCOTUS keeps abortion pills available for now... April 22, 2023 [View Online]( | [Sign Up]( | [Shop]( [Morning Brew]( SPONSORED BY [Spark]( Good morning and Happy Earth Day. A lot had to go right for us to be living here. First: location, location, location. Earth is located in a remote corner of the Milky Way. And while that means we have to Uber everywhere, it also means fewer threats like a huge star devouring us with its gravity. The star we do have nearby, the sun, is pretty stable and the perfect distance away to sustain liquid water (important!). And when the sun sends deadly flares our way, we’re safe because the Earth’s core produces a magnetic field that deflects radiation. The Earth also contains critical elements like oxygen and carbon, its atmosphere traps heat (but not too much), its neighbor/protector Jupiter deflects asteroids and comets from smashing into it, its moon stabilizes the climate, and its active plate tectonic system produces volcanoes, whose eruptions may have led to the first instances of life. Plus, it’s the only planet in the galaxy where you can get a good gyro. —Abby Rubenstein, Molly Liebergall, Matty Merritt, Neal Freyman MARKETS Nasdaq 12,072.46 +0.11% S&P 4,133.52 +0.09% Dow 33,808.96 +0.07% 10-Year 3.577% +3.9 bps Bitcoin $27,275.15 -3.71% P&G $156.07 +3.46% *Stock data as of market close, cryptocurrency data as of 3:00am ET. [Here's what these numbers mean.]( - Markets: The stock market continued acting like it was playing freeze dance and the music stopped, with [little movement]( as the week ended yesterday. Procter & Gamble got a boost after reporting that consumers kept buying detergent and diapers in Q1 even though it raised prices.  HEALTH [SCOTUS upholds access to abortion pills…for now]( [Image of mifepristone]( Anna Moneymaker/Getty Images In its first major ruling on abortion since overturning Roe v. Wade, the Supreme Court handed down a 7–2 [decision]( yesterday allowing mifepristone to remain widely available while the legal battle over the FDA’s two-decade-old approval of the abortion medication rages. And it’s going to rage: The matter reached the Supreme Court after a federal judge in Texas yanked the FDA’s approval of the drug. That ruling would have blocked nationwide access to the medication, spooking [pharmaceutical companies]( by raising the possibility that any drug approval could be nixed later. The government quickly appealed to the conservative-leaning US Court of Appeals for the 5th Circuit, which rejected parts of the judge’s decision but still imposed restrictions on the medicine’s availability. - Meanwhile, the same day the Texas ruling came out, a Washington federal judge ordered the FDA not to restrict access to the pill in 17 states. - Plus, a generic drugmaker subsequently sued to keep its version of the pill on the market regardless of the Texas ruling. The Supreme Court’s decision means the status quo will be maintained while that all gets sorted out. But with the case all but guaranteed to end up back at the high court for a final say eventually, it does not tell us much about what the justices will ultimately decide when it gets there. Why not? Because the brief, unsigned order came in response to an emergency petition, making it part of the court’s so-called shadow docket, where decisions get made quickly and without the benefit of oral arguments. Also, it’s pretty standard to block changes from taking place while appeals wind their way through the courts. But there were a few hints: Both Justice Alito and Justice Thomas dissented from the order, saying they would have permitted the restrictions on the drug to take effect. What comes next? The case is scheduled to pick back up with oral arguments at the 5th Circuit on May 17.—AR   SPONSORED BY SPARK [Spark some inspo]( [Spark]( Ever thought, “This meeting could have been an email”? Well, we’ve got a book for you. [Spark]( is an unconventional take on the business book, a thought-provoking dive into what drives individuals, teams, and organizations. Part manifesto, part self-help guide, Spark helps you rethink work life through concepts like purpose, curiosity, and scalability [for a more fulfilled work life]( (or the life you actually want). The book encourages you to think about broader concepts in the context of your own experiences. It’s broken up into three sections: - ideas you work on within yourself (individual) - ideas you work on with someone else (interpersonal) - ideas you work on within groups (organizational) Tap into your inner fire. [Preorder Spark today](. WORLD Tour de headlines [Tweets by an imposter NYC government]Twitter Chaos on the bird app. Impostor accounts [sprang up]( on Twitter yesterday following the removal of legacy blue checks for brands and public, media, and government figures unwilling to pay for a subscription. In one example, a fake account with a paid-for blue check posing as a Sudanese paramilitary group sent a tweet that got millions of views, which falsely said that its leader had been killed in the conflict there. Elsewhere on Twitter: All labels calling accounts “government-funded media” were removed (not just the recent controversial ones). NFL’s biggest gambling crackdown. It’s more than the ponies getting people in trouble these days: The NFL [suspended]( five players, four of whom play for the Detroit Lions, for violating the league’s sports betting policy. Players are not allowed to bet on NFL-related games or events, but can bet on non-NFL games as long as they aren’t on NFL turf when they do. Three of the players, Quintez Cephus and C.J. Moore of the Lions and Shaka Toney of the Washington Commanders, were suspended indefinitely (through 2023 at least). Jameson Williams and Stanley Berryhill got shorter, six-game suspensions. Alphabet’s CEO is getting paid. Amid layoffs and reports of cutbacks on perks that include even scaling back the number of employee staplers, not everyone at Google’s parent company will have to tighten their belt: CEO Sundar Pichai’s [pay]( rose to $226 million last year. But the company didn’t hand him all that cash while trying to get more efficient—Pichai’s compensation got a huge boost from a scheduled stock award worth $218 million. HOUSING [Gen Z is winning the housing market race]( [Hand wearing "slay" bracelet holding house.]( Francis Scialabba Parents will have to go back to criticizing their kids for excessive screen time or killing golf, because not owning a home is no longer an accurate roast. A new report from Redfin found that 30% of Gen Zers age 19–25 [owned]( their own homes as of last year—which is higher than the 27% of Gen Xers and 28% of millennials that did at the same age. Before all you 30-something renters freak out, most young homebuyers bought in cheap areas and jumped on low interest rates. Gen Z’s favorite place to buy a house? Virginia Beach, VA, where they accounted for 9% of all home purchases last year. The median house sale price for a Gen Z buyer in the area was $255,000 in 2022…$199,525 less than the average median sale price in the US last year, according to the St. Louis Fed. It also comes down to timing. Gen Zers entered a welcoming labor market with high wages, while millennials had to wade through the fallout of the 2008 recession before they were able to establish themselves financially. Looking ahead…with interest rate hikes pushing mortgage rates past 6% this year and supply tightening, Gen Zers may not keep up their homebuying pace.—MM   TOGETHER WITH CARIUMA [Cariuma]( This fan-fave footwear is planting 10 trees: To celebrate Earth Day, Cariuma is [planting 10 trees]( in the Brazilian rainforest for every pair purchased until EOM! These stylish, sustainable, comfy kicks are widely famed and widely worn—just ask Vogue. (Yup, those fashionistas even did their own Cariuma write-up.) Treat yourself and Mother Earth with [20% off with code BREWAPRIL](. CLIMATE [After the big chill, California braces for a big melt]( [Snowy mountains fill the landscape behind the Hollywood sign.]( Patrick T. Fallon / Getty Images California’s historic snowfall this year helped pull the state out of a drought and blessed our feeds with photos of snowy palm trees...but now it’s starting to melt, setting up a summer of flooding. Officials warn that warmer temperatures will cause the [massive snowpack]( atop the Sierra Nevadas to overflow reservoirs, spilling into lakes and valleys already buckling under last month’s storms. To give you an idea of just how much melted snow there’ll be, it’s enough to submerge 30 million football fields under a foot of water. Where’s all that H2O going? The biggest threat is to downstream communities to the west of the Sierra Nevadas and in some valleys to the east. - California’s San Joaquin Valley stands to suffer most from impending floods, which could last throughout the year. - The mountainside counties of Fresno, Kings, and Tulare—which has a [recently revived lake]( that’s already damaged hundreds of buildings—are under a flood warning until further notice. It won’t happen all at once: Temps over the next few days are forecast to hit the 80s, causing some melt, but the true danger will be when 90-degree days come. Big picture: With an estimated 98% of the snowpack still up there, Central Californians are bracing for a [very wet year]( that could cost billions in infrastructure and agricultural damages.—ML   GRAB BAG Key performance indicators [A soda can with a dollar sign for the tab]Hannah Minn Stat: Even a penny can make a big difference. After Oakland, California, slapped a one-cent-per-ounce tax on sugary drinks in 2017, local sales of sweetened beverages, including soda, fruit and sports drinks, and sweetened teas, [dropped]( nearly 27%, research released this week shows. Public health experts behind the study say that it proves even a little tax pain might help you kick your daily Mountain Dew habit. Quote: “Of course, we respect local restrictions around the word ‘champagne,’ but we remain proud of Miller High Life, its nickname and its Milwaukee, Wisconsin, provenance.” It’s only champagne if it comes from the Champagne region of France; otherwise, it’s just sparkling wine—or in this case, lager. Belgian customs officials recently [destroyed]( 2,352 cans of Miller High Life destined for Germany at the request of the powerful Comité Champagne because they bore the brand’s longtime slogan, “Champagne of Beers.” The brand, which doesn’t export to Europe, didn’t object but said, “We invite our friends in Europe to the US any time to toast the High Life together.” Read: Inside Taco Bell’s innovation kitchen, the front line of the stunt-food wars. ([The New Yorker]( NEWS What else is brewing - [Russia]( admitted that it accidentally bombed Belgorod, its own city. - [Lyft]( is reportedly planning to lay off 1,200 people, or ~30% of its workforce, as the company struggles to compete with Uber. - [Google]( has stopped construction on a planned 80-acre campus in San Jose, according to CNBC. - [A California jury]( handed Tesla a big win yesterday in what is thought to be the first trial involving the electric vehicle company’s Autopilot feature, finding that the self-driving system didn’t perform unsafely during a crash. REAL ESTATE [Companies are getting roommates, too]( [The Situation saying ]( Jersey Shore Family Vacation/MTV via Giphy Making awkward eye contact with coworkers in the bathroom mirror is back, because more companies are asking employees to return to the office. But with many businesses trying to accommodate a hybrid workforce, companies are getting creative with their offices to avoid wasting money. One increasingly popular solution: Get some corporate roommates by subleasing part or all of their office space to other companies. How does it work? [You can read the whole story here](. RECS [Saturday To-Do List graphic] Earth Day pop quiz: Do you know the rules of recycling? This [quiz]( can teach you. The ultimate Insta flex: If you can’t get to California for your own superbloom selfie, at least you can see what it [looks like from space](. You probably won’t hear this at Coachella: But this [video]( will let you enjoy a not-quite Blink-182 jam at home. Is your name Kyle? If so, there’s somewhere [you need to go](. Sometimes it is rocket science: Our friends at Tech Brew took a look at what it takes to [build a satellite company](. Health coach: With [Noom]( you get personalized coaching to help you hit your health goals. Join the millions already part of this sustainable, effective health community. [Download the app]( *This is sponsored advertising content. GAMES The puzzle section Brew crossword: Not all crosswords are littered with big moments in tech history, but ours is. [Play it here](. Open House Welcome to Open House, the only newsletter section that wants to live in harmony with the landscape. We’ll give you a few facts about a listing and you try to guess the price. [Frank Lloyd Wright home in Tulsa, Oklahoma]Sarah Strunk Normally we like to use this section to laugh at a McMansion or some $12 gazillion white box in Hawaii so we feel better about our own sad little two-bedroom apartment. But not today. Because Frank Lloyd Wright’s [Westhope]( is for sale in Tulsa, Oklahoma, and we have no notes. Amenities include: - 5 beds, 4.5 baths - Outdoor pool - The privilege of living where Sophia Bush [hosted]( her rehearsal dinner How much for a piece of history? AROUND THE BREW [Become a better leader]( [Become a better leader]( What We Do in the Shadows/FX Leadership isn’t just a buzzword—it’s more often than not the key to success. Learn to build a team, strategize, and drive change with our Leadership Accelerator. [Apply today](. Salary negotiation is a skill you’ll use for the rest of your life, and our free guide will help you become an expert. [Check it out](. Late filings? No problem. [Download HR Brew's tax guide]( for tips and strategies to help employees file successfully on a delayed timeline. SHARE THE BREW [Share Morning Brew]( with your friends, acquire free Brew swag, and then acquire more friends as a result of your fresh Brew swag. We’re saying we’ll give you free stuff and more friends if you share a link. One link. Your referral count: 0 [Click to Share]( Or copy & paste your referral link to others: [morningbrew.com/daily/r/?kid=a905682a]( ANSWER $8 million Written by [Neal Freyman]( [Abigail Rubenstein]( [Matty Merritt]( and [Molly Liebergall]( Was this email forwarded to you? Sign up [here](. 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