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7 Ways Homeowners Use a HELOC to Access Their Home Equity


If you locked in a low mortgage rate a few years ago, the last thing you want to do is give it up. But you’ve also been watching your home equity grow and wondering, is there a way to put that money to work without starting over with a new mortgage?

Gen Z fled San Francisco for Texas and Florida. Now they’re turning to Nashville and Orlando



From the mid-2000s through the late 2010s, San Francisco was a magnet for young graduates driven largely by Web 2.0 and the mobile tech boom. It was a cool city that boasted high-paying jobs and promised a breezy West Coast lifestyle.

But in the past several years, younger workers have been ditching San Francisco for cheaper cities and better work-life balance. It started with a pandemic exodus, as workers moved to be closer to their families or to pursue a different lifestyle; then they steadily drifted toward Texas and Florida, where jobs were plentiful and rent was more manageable. In fact, a survey by global architecture firm Gensler showed nearly half of San Francisco’s young, childless adults were contemplating a move.

And now a new report from commercial real estate and investment management firm JLL shows there’s a third chapter in San Francisco’s migration script in which younger generations are moving to “welcomer cities” like Nashville and Orlando.

JLL now defines Nashville and Orlando as “welcomer” cities because they still offer plenty of corporate job opportunities, but are more affordable than large cities. 

“Specifically, Nashville’s outsized cultural presence and Orlando’s favorable tax policy make them powerful magnets for talent,” Travis McCready, head of industries, leasing advisory at JLL, told Fortune

McCready pointed out “welcomer” cities overall have a net migration rate of 5.2% over the past three years, while “anchor” cities like New York and the Bay Area grew just 0.6% from migration over the same time period.

What this also means is “welcomer” cities like Nashville and Orlando are now legitimate contenders in the innovation economy, according to JLL, which tracks talent migration, office market dynamics, and corporate investment across 135 cities globally. 

Will “welcomer” cities stick?

Especially in the past few years, Gen Z has been flocking to more affordable cities just to get by during the cost-of-living crisis. Aside from places like Texas and Florida, many have made moves to the Midwest, where homes are about 30% cheaper than the coasts. 

A 2025 ConsumerAffairs analysis of U.S. Census Bureau and Federal Financial Institutions Examination Council (FFIEC) data found that seven of the 10 most accessible metros for young homeowners are in the Midwest. Unsurprisingly, California dominated the list of the least affordable metro areas for Gen Z.

A cost-of-living comparison by Apartments.com shows the cost of living in San Francisco is 80.6% higher than in Orlando, and housing prices are 226.2% higher. Compared with Nashville, San Francisco’s cost of living is 66.3% higher, and housing is nearly 150% more expensive. 

“The pull factors that drew people to affordability- and lifestyle-oriented cities [like Nashville and Orlando] are not likely to disappear, and people have built lives, bought homes, and put down roots in these markets,” McCready said.

Corporate migration also reinforces why younger people are moving. In 2024, Oracle announced plans to establish what it called its “world headquarters” in Nashville, committing $1.2 billion in capital investment over a decade and pledging to add 8,500 jobs to the area, with Tennessee state leaders offering a $65 million economic grant to help offset costs. (Although recent reports suggest Oracle is struggling a bit to attract workers to its office.)

Starbucks also recently announced it would debut a corporate hub in Nashville, which would reportedly be 250,000 square feet, or large enough for up to 2,000 employees, according to CoStar.

“With these growth plans, we see Nashville, Tennessee, as an ideal location to open an office and establish a more strategic presence in the Southeast region of the U.S.,” Starbucks COO Mike Grams said in a statement.

In Orlando, Travel + Leisure made the decision to relocate its global headquarters downtown—a move McCready called “a signal worth paying attention to.” Boston-based cybersecurity firm SimSpace also moved its headquarters to Orlando this year, and global banking software company Temenos, AMD, and Charles Schwab have all announced expansions in Orlando in the past couple of years. 

Despite all of these moves, it by no means suggests cities like San Francisco or New York are dead. It just means they’re competing more now with mid-size markets. 

“What we are seeing in established hubs like New York and the Bay Area is a recovery, but it’s highly selective,” McCready said. “Demand is concentrating in places and spaces with high degrees of accessibility, visibility, and access to amenities. And the supply in those markets is genuinely constraining: Only about 9% of office space in the Bay Area and major anchor cities was built after 2020.”

“So even companies that want to consolidate in San Francisco or New York are competing for a very thin slice of truly desirable space,” he continued.

The office market math

For companies weighing a relocation decision, the numbers in emerging innovation hubs like Orlando or Nashville tell a compelling story. Nashville ranked among the top five U.S. markets for absorption-to-delivery ratios in 2025, with 35% of new supply absorbed last year, alongside New York, Charlotte, Seattle, and Phoenix. Class A rents sit at $43.52 per square foot, which is meaningfully below large-city rates but in space McCready describes as “genuinely competitive.”

Orlando’s vacancy rate of 15.3% is well below the national average of 22.4%, and the market is seeing steady demand for high-quality, amenity-rich space. That stands in contrast to the Bay Area, where only about 9% of total office inventory was built after 2020, and where prime rents average $1,296 per square meter. Class A+ rents in a Welcomer city (like Orlando or Nashville) average $627 per square meter, roughly half that figure, according to JLL’s data.

“You are competing for very little space against very deep-pocketed incumbents” in San Francisco, McCready said. “Emerging hubs offer something increasingly rare: optionality. More modern inventory, more competitive rents, and—critically—talent pools that are growing, not just circulating.”

China says it supports law-abiding transnational deals after reports of Meta deal review




China says it supports law-abiding transnational deals after reports of Meta deal review

Why Google is offering a 100-year bond



Google’s parent company, Alphabet (GOOG, GOOGL), is doing something rare: selling a 100-year bond to investors. Yahoo Markets and Data Editor Jared Blikre, who also hosts the video podcast Stocks in Translation, explains what the bond is and what investors need to know about it.

#youtube #google #bond #investing #bigtech

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Airbnb Hosts Could Make an Entire Year’s Income in One Month This Summer


The FIFA World Cup kicks off on June 11th, bringing with it thousands of international soccer fans desperate for a place to stay and willing to pay thousands of dollars for the privilege. As a result, short-term rental hosts stand to make a fortune, tripling prices and selling out in seconds.

The dizzying prospect of earning $6,000 a night in some U.S. suburbs has even got regular homeowners looking to decamp to relatives while turning their primary residences over to the soccer-crazed hordes, while regular landlords are considering revamping their revenue models to capitalize on the cash flow shock wave.

World Cup 2026: A Unique Tournament

The 2026 tournament is the first time that games will be held in three countries—the U.S., Mexico, and Canada, with 16 host cities—75% of the games will be played in the U.S., with Mexico and Canada hosting 25% each, and an expanded 104-game format that extends the window of peak demand and potential cash flow for short-term rental hosts. 

According to the New York Times, the New York-New Jersey region is expecting more than 1 million visitors, and hotels in host cities have been quick to take advantage, inflating prices by 300%.

A Smash-and-Grab Cash Flow Oasis Amid an International Visitor Drought

For short-term rental hosts, the opportunity to seize on a soccer-fueled gold mine is welcome news at a time when overseas visits to the U.S. are markedly down in the wake of aggressive immigration tactics and conflict in the Middle East.

“Even a perfectly executed World Cup will not resolve the underlying structural challenges facing the hotel industry,” Vijay Dandapani, president of the Hotel Association of New York City, told the Times

International inbound travel to the U.S. fell by nearly 5% in January compared to the same time last year, marking the ninth straight month of decline, according to the U.S. Commerce Department’s National Travel and Tourism Office (NTTO). A 22% year-over-year decline in Canadian visitors cost the U.S. economy $4.5 billion in 2025. In total, the U.S. was estimated to have lost $30 billion in tourism dollars.

Popular STR platforms such as Airbnb, Vrbo, and Booking.com realize that amid the booking downturn, the World Cup presents a short window of opportunity to make up for losses elsewhere in the year.

“It’s really this once-in-a-generational moment,” Nathan Rotman, Airbnb’s director of policy strategy for North America, told The Athletic. “It’s a real opportunity for cities to show themselves off, but also to test out whether they can accommodate fans.”

Property manager Bobby Roufaeal, who is managing over a dozen STRs in New Jersey, is tripling rates for his units and expects a single luxury property to generate about $240,000 during the tournament, encouraging hosts to see the potential for significant income. 

“They’re like, listen, I’ll figure it out. I’ll go stay with my relatives for the month or for a few weeks just to be able to capitalize on this revenue,” Roufaeal told Bloomberg, explaining how owners plan to vacate their personal residences to capitalize on the cash flow potential.

$4,000 Income Reality Check

International accounting firm Deloitte, commissioned by Airbnb, estimated that hosts in U.S. World Cup cities could bring in $4,000 on average during the tournament, which translates to $262 per night, even in pricier coastal cities. That number jumps up to $5,700 on average in New York, the highest of all host cities. Additionally, Airbnb has offered first-time hosts an incentive of $750 to use the platform and host their first guests by July 31, 2026.

“Demand for World Cup stays on Airbnb is surging, giving residents of host cities the opportunity to boost their incomes by sharing their homes and the communities they love,” Dave Stephenson, Airbnb’s chief business officer, said in a statement shared with Realtor.com. “There’s truly never been a better time to become a host on Airbnb.” 

Demand Spike and STR Regulation Waivers

AirDNA is tracking demand for short-term rentals in advance of the World Cup. As expected, the numbers will change by city and date as we get closer to the games.  

Municipalities have been forced to adjust their STR policies to ensure there are enough beds to accommodate the surge in visitors. In Kansas City, which will host six matches and where 650,000 visitors are expected to descend on a city with only 65,000 hotel rooms, the demand has had far-reaching repercussions. 

“They [the city] had reached out to the Kansas City Alliance and said, ‘Hey, we are about 500 listings short of what we need. Will you help us bring new hosts to the area?” Tyann Marcink Hammond, president of the Missouri Vacation Home Alliance, said during an episode of the Alex and Annie Vacation Rental Podcast, as cited by Rent Responsibly.

The scope of influence for hosts extends well beyond the Kansas City limits, where short-term rental rules differ markedly, with rental caps and bans on non-hosted rentals. These have temporarily been waived to accommodate the influx. “They understand the economic benefits, and they want that in their community,” Hammond said.

In June 2025, Jackson County legislators proposed an emergency pause on the reclassification of short-term rentals from residential to commercial properties. However, the reclassification tripled the tax exposure for some STR owners, angering many of them.

“This is outrageous, and I absolutely will shut down prior to the World Cup,” Laura Williams, vice president of the Kansas City Short Term Rental Alliance, told KSHB 41.

For small landlords who might not have a regulatory attorney at hand, understanding the quagmire of changing rules could result in fines and forced cancellations during a potential windfall event. Ironically, New York, led by soccer-crazed mayor Zohran Mamdani, has some of the strictest STR rules in the country, banning stays under 30 days, which it has refused to relinquish. This move means STR business goes to New Jersey and elsewhere.

Final Thoughts: The World Cup and Beyond—Where STR Landlords Can Profit the Most

The World Cup has presented an interesting debate: How much revenue can STR hosts in major cities hosting major events make, and is it enough to offset the high cost of doing business (taxes, insurance, expensive properties, and interior furnishings) in those cities? 

For many landlords, the lure of a high volume of revenue over a short period, as opposed to ongoing monthly rental income and the hassle of chasing up rents and dealing with evictions, might be enough to cause them to switch strategies and chase fast cash. 

For cities with stringent STR rental rules, such as New York, lobbying efforts by STR companies and strategic affiliation with event organizers, such as Airbnb’s pact with FIFA, may make them rue the tourism revenue they are turning away. On the flip side, the average income of $4,000 a month, as predicted by Deloitte, means that unless major events are ongoing near your rental property, switching to short-term hosting over long-term renting may be more hype than dollars.

Earn 95x Amex Membership Rewards with Rakuten


LifeLock Offer: Earn 95x Amex Membership Rewards with Rakuten

🔃 Update (Apr 01, 2026) – This offer is available again through the Rakuten site and app. You can earn 95X Amex/Bilt points. New Rakuten members can also get a $50 signup bonus. 


The popular LifeLock offer from Rakuten is back. You can now earn 95x American Express Membership Rewards points or 95% cash back through the Rakuten app only. This is an easy way to add a big stash of points to your account, and it is a good deal depending on your valuation of these points. The cheapest LifeLock subscription costs $296.90.

To get in on this deal, you need to be a Rakuten member. If you don’t have an account you can sign up now. Get the app, and search for LifeLock and follow the easy prompts to sign up. Just make sure you see the 95x rate before proceeding.

The LifeLock’s “Ultimate Plus Plan” costs $296.90. That means that you would get $282.05 in cashback or 28,205 Membership Rewards points. There are more expensive plans as well, such as the “Ultimate Plus Plan for Family with Kids” that costs $491.88. That would earn you 46,728 Membership Rewards points.

If you run the numbers, this deal means that you’re purchasing points at 1.05 cents each. If you can cash out with Schwab for example, then you’re making a small profit. But American Express Membership Rewards points can be even more valuable when used through travel partners. And on top of that, you would be earning rewards with your credit card. That brings the cost closer a penny.

The terms of the Rakuten cashback state that you need to maintain the membership for at least 60 days. If you cancel after that, I don’t know if you receive a pro-rated refund. If you do, the deal becomes significantly more profitable.

BTS agency HYBE to inject $100M into its US subsidiary, HYBE America


HYBE is pumping $100 million into its US subsidiary, HYBE America Inc., according to a regulatory filing published on Tuesday (March 31).

The capital injection, approved by HYBE’s board on March 31, takes the form of a paid-in capital increase in which the South Korean entertainment giant is acquiring 10 million new shares in its wholly owned subsidiary.

The acquisition amount of KRW 150.8 billion ($100m) was calculated using the Seoul Foreign Exchange Brokerage’s quoted exchange rate of KRW 1,508.10 per US dollar on March 30.

The filing, published on South Korea’s DART disclosure system, states that the purpose of the investment is to support “the smooth business operations of HYBE America Inc.”



HYBE America’s registered business type is listed as e-commerce — a classification that reflects its role as the home of Weverse’s US commerce operations alongside its expanding music label portfolio.

HYBE America was originally established in 2019 as the company’s US headquarters.

It became the vehicle for HYBE’s landmark $1.05 billion acquisition of Scooter Braun’s Ithaca Holdings in 2021 — a deal that brought SB Projects and Big Machine Label Group under HYBE’s umbrella, and which Braun led as CEO until his departure last year.

In 2023, HYBE America acquired Atlanta rap powerhouse QC Media Holdings in a deal worth approximately $300 million.


News of the $100 million capital injection arrives at a key moment for HYBE America, which has undergone significant restructuring under Chairman and CEO Isaac Lee.

Lee, the former Univision and Televisa executive, was appointed to lead the HYBE America division in July 2025, in addition to his existing role as Chairman of HYBE Latin America.

Since taking the reins, Lee has overseen a busy period of change. In February, Scott Borchetta exited HYBE America, with the Nashville operation rebranded as Blue Highway Records under new CEO Jake Basden.

In January, HYBE America hired Ethiopia Habtemariam — the former Chair and CEO of Motown Records — as President of Music to drive A&R and artist development across the company’s label ecosystem. Other recent senior hires include Gene Whitney as General Counsel.

Lee also oversaw the launch of HYBE Label Service, a US-based global distribution and label services division, and the creation of S1ENTO Records, a regional Mexican music-focused label under HYBE Latin America.

HYBE America’s portfolio now spans Blue Highway Records (Nashville), Quality Control Music (Atlanta), the HYBE x Geffen Records joint venture (home to KATSEYE), SB Projects, HYBE Label Service, and HYBE Latin America’s growing roster of labels including S1ENTO Records and Docemil Music.

Separately, according to a regulatory filing, HYBE’s annual general meeting also saw Isaac Lee appointed to the company’s board, alongside Kevin Mayer — the former CEO of TikTok and former Chairman of Direct-to-Consumer and International at The Walt Disney Company, who currently serves as Co-CEO of Candle Media. Both were appointed for three-year terms.

Lee’s elevation to HYBE’s board further cements his central role in the company’s global strategy, while Mayer’s appointment adds significant US media and technology expertise at the governance level. Mayer has an existing connection to HYBE through Candle Media’s 2022 acquisition of Exile Content Studio, the company co-founded by Lee.


The DART filing also offers a window into HYBE America Inc.’s financial health.

According to the disclosure, HYBE America Inc. posted revenue of KRW 28.8 billion (approximately $19m) in its most recent fiscal year (2024), down from KRW 36.2 billion in 2023 and KRW 70.4 billion in 2022.

The subsidiary recorded a net loss of KRW 18.3 billion ($12m) in 2024, an improvement on a KRW 27 billion loss the prior year — but still a significant red-ink position. HYBE America also posted a KRW 74.8 billion net loss in 2022.

Total assets stood at KRW 1.68 trillion ($1.1bn) at the end of 2024, with total equity of KRW 1.45 trillion.

It should be noted that HYBE America Inc. is the specific legal entity listed as an e-commerce business in this filing; the financials above may not capture the full breadth of HYBE’s US operations, which span multiple subsidiaries and business units.


On the parent company level, HYBE reported record consolidated revenue of KRW 2.65 trillion ($1.86bn) for 2025, up 17.5% YoY, though operating profit fell 73% to KRW 49.9 billion amid what the company described as “preemptive investments for mid-to-long-term growth”.

Those investments have been focused squarely on global expansion. In addition to the Americas push, HYBE launched HYBE China in April 2025 and established HYBE India Entertainment in September of the same year. The company first entered the Latin music market in late 2023 through its acquisition of Exile Music.

The company has told investors that 2026 will be a financial inflection point, driven by BTS’s return to full-group activities — including a new album and an 82-show world tour across 34 cities — alongside the scaling of newer IPs like KATSEYE.

MBW has reached out to HYBE for comment.Music Business Worldwide

The SpaceX IPO is great — but it won’t deliver 100x returns 



With SpaceX filing for an initial public offering, the tone in markets is unmistakably bullish. Analysts are already calling it “one of the year’s most-anticipated market debuts” and “one of the largest IPOs ever.”

Unlike the outdated IPO framework of the last decade, SpaceX reminds us that going public is no longer an endpoint, but a strategic accelerant: a way to access deeper pools of global capital, expand infrastructure, and scale at a level private markets alone cannot support.

But at a private valuation of $1 trillion-plus, SpaceX — despite being a great company led by a visionary founder — also underscores everything wrong with the U.S. IPO market: by the time companies reach public markets today, almost all upside is in the rearview.

The threshold for going public in the U.S. has changed dramatically. Two decades ago, companies routinely listed at valuations of a few hundred million dollars. Amazon went public in 1997 at roughly $438 million. AOL, one of the defining IPOs of the early internet era, delivered returns exceeding 100x from its public debut to its peak. Public investors participated in the full arc of value creation.

That is no longer the case. Today, companies often need to reach a $2 billion to $3 billion valuation before even considering an IPO. Stripe was last valued at $65 billion in private markets. Databricks has been valued above $40 billion. SpaceX itself has raised capital at valuations exceeding $175 billion prior to any public listing. By the time these companies reach public markets, they are already global leaders.

Much of the benefit that once accrued to public investors is now captured in private markets. But staying private too long comes with real costs — such as a brittle capital structure where ownership is concentrated among a narrow group of insiders and a dependence on continued private funding. It also limits broader investor participation and delays the price discovery and discipline that public markets provide. In trying to avoid the scrutiny of public markets, many companies have instead traded it for different kinds of risks: less transparency, less liquidity, and fewer pathways to sustainable, long-term capital.

SpaceX serves as a signal that public markets are once again open at scale, but the math alone confirms that by the time unicorns like SpaceX, Anthropic, Stripe and Databricks go public, the exponential value creation is already gone.

So why are investors still fixated on mega-unicorn IPOs?

The next generation of outsized returns won’t come from trillion-dollar IPOs. They will come from smaller companies, listing earlier in their lifecycle, before global capital has fully priced them. Historically, the greatest gains have come from identifying category-defining companies before they were obvious — making the real opportunity — not just 100x, but 400x — companies with sub-$500 million valuations. As legendary investor Peter Lynch wrote, that’s how you get “one up on Wall Street.”

SpaceX is just a distraction.

The opinions expressed in Fortune.com commentary pieces are solely the views of their authors and do not necessarily reflect the opinions and beliefs of Fortune.

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