The Downfall of a Real Estate Empire

It’s not just the cost of buying a home that’s going up. It’s also the hidden costs — like taxes, maintenance and insurance — that are going through the roof. WSJ’s Nicole Friedman explains why these prices are rising so fast, and what it means for the housing market. Further Listening: -'It's on Fire': Why the Housing Market Is Booming  Further Reading: -The Hidden Costs of Homeownership Are Skyrocketing  -Home Buyers Are Ready to Buy. But Sellers Aren’t Selling.  Learn more about your ad choices. Visit megaphone.fm/adchoices

Yesterday, Federal Reserve Chair Jerome Powell called into question whether the Fed will be able to lower interest rates this year as hoped. WSJ’s Nick Timiraos on how the Fed’s outlook on the economy has changed.  Further Reading: - Powell Dials Back Expectations on Rate Cuts  - Fed Rate Cuts Are Now a Matter of If, Not Just When  Further Listening: - Janet Yellen on Inflation and the U.S. Economy  - Inflation Is Down. Unemployment Is Low. Is This a Soft Landing?  Learn more about your ad choices. Visit megaphone.fm/adchoices

Cities such as San Francisco and Chicago are trying to save their downtown office districts from spiraling into a doom loop. St. Louis is already trapped in one, with abandoned buildings, vacant offices and shuttered shops and restaurants. WSJ’s Konrad Putzier unpacks the lessons from downtown St. Louis’s doom loop. Further Reading: -The Real Estate Nightmare Unfolding in Downtown St. Louis  -Commercial Real-Estate Woes Run Deeper Than in Past Downturns  -Can San Francisco Save Itself From the Doom Loop?  Further Listening: -The Downfall of a Real Estate Empire  -What’s Keeping Zombie Malls Alive?  Learn more about your ad choices. Visit megaphone.fm/adchoices

SpaceX’s satellite-internet devices are ending up in the hands of American adversaries and accused war criminals. WSJ’s Thomas Grove and Micah Maidenberg explain how the technology is being used illegally in multiple conflicts around the world.   Further Listening: - Amazon Takes On SpaceX in Battle for Space Internet  - When Elon Musk Moves In Next Door  Further Reading: - The Black Market That Delivers Elon Musk’s Starlink to U.S. Foes  Learn more about your ad choices. Visit megaphone.fm/adchoices

Caitlin Clark has lifted women’s college basketball to new heights, setting records on and off the court. Now the Iowa superstar is going pro and joining the WNBA. WSJ’s Rachel Bachman on what Caitlin Clark’s huge popularity might mean for the sometimes-struggling women’s league.  Further Reading: - Caitlin Clark Drew 18.7 Million Viewers to Women’s Basketball. Will It Last?  - Before Caitlin Clark Dominated Women’s Basketball, She Dominated These Boys  Further Listening: - The TikTok That Changed College Hoops  - The Kiss Rocking Women’s Soccer  Learn more about your ad choices. Visit megaphone.fm/adchoices

Providing child care for employees may not seem like a savvy business choice, but some companies swear by it. WSJ’s Harriet Torry explores the different approaches – and the benefits – at businesses both large and small. Further Listening: - The Labor Shortage That's Causing More Labor Shortages  Further Reading: - What One Employer Found When It Started Providing Child Care  - More Companies Start to Offer Daycare at Work  Learn more about your ad choices. Visit megaphone.fm/adchoices

This week, the Arizona Supreme Court revived an abortion ban enacted in 1864, decades before the state's formation. WSJ's Laura Kusisto explains how the 160-year-old law could impact the 2024 election. Further Listening: -The Abortion Pill’s Uncertain Future  -Kansas’ Big Abortion Vote  -The Supreme Court Overturns Roe v. Wade  Further Reading: -Arizona Supreme Court Bans Nearly All Abortions, Reviving 160-Year-Old Law  -Why Arizona Will Be Ground Zero for the 2024 Abortion Fight  Learn more about your ad choices. Visit megaphone.fm/adchoices

The Biden administration is proposing a sweeping initiative to slash student debt for nearly 30 million borrowers. WSJ’s Andrew Restuccia unpacks the proposal and explains why it marks a major new White House effort to try to appeal to progressives and young voters seven months before the November election.  Further Listening: - Breaking Down Student Debt Relief  - How Biden Plans to Tackle Student Debt  Further Reading: - Biden’s Student-Loan Plan Seeks to Slash Debt for 30 Million Americans  Learn more about your ad choices. Visit megaphone.fm/adchoices

No Labels, the centrist group which was trying to field a third-party presidential candidate, is abandoning its efforts to find someone to lead its “unity ticket.” WSJ’s Ken Thomas explains how the group spent millions of dollars and months of work but ultimately came up short.  Further Reading: - How the No Labels 2024 Presidential Campaign Failed to Launch  Further Listening: - Donald Trump’s Meme Stock Moment  - Biden vs. Trump: The Rematch Nobody Wants  Learn more about your ad choices. Visit megaphone.fm/adchoices

Treasury Secretary Janet Yellen is in China trying to discourage government officials and business leaders from flooding the world with cheap goods. WSJ’s Andrew Duehren is traveling with Yellen, and explores how her thinking on China has changed with shifting global market forces.   Further Listening: - Janet Yellen on Inflation and the U.S. Economy  - How China's BYD Overtook Tesla  Further Reading: - Janet Yellen Missed the First ‘China Shock.’ Can She Stop the Second?  - China Shock 2.0 Sparks Global Backlash Against Flood of Cheap Goods  Learn more about your ad choices. Visit megaphone.fm/adchoices