TOKYO — Three cities — Tokyo, Osaka and Fukuoka — will compete to become Japan’s next international financial center under a plan developed by Prime Minister Yoshihide Suga.

Japan “can expect a market revitalization by attracting financial personnel from overseas,” Suga told Nikkei and other media outlets in early October.

The plan is to attract highly skilled workers from around the world through tax perks and special residency rules that will apply to the entire country. But the city that can demonstrate steady achievement will receive focused government support in its development as a financial hub.

“Of course I expect Tokyo to develop [as a center],” said Suga, who also spoke of plans to “create an environment where financial functions can be improved” throughout Japan — raising the possibility that a hub could be in another city.

Tokyo has previously served as the city of choice for government-led initiatives to form a financial hub, given the heavy concentration of headquarters and branches of financial groups. The Japanese capital offers special visas to select foreign arrivals, for example.

Despite this, the city has lagged. The latest Global Financial Centers Index, published in September, ranked New York, London and Shanghai as the top three. Tokyo slipped one place to fourth. Critics have said high tax rates and language barriers are among the reasons for the city’s relatively poor performance.

Suga pledged to “quickly address matters including taxation, residency requirements and administrative support in English.”

Details for the plan will be hammered out quickly. Tax legislation for fiscal 2021 is expected to feature lower income and inheritance tax rates for highly skilled overseas professionals, as well as cuts for foreign enterprises. Expanded budgetary provisions for accommodating English speakers will also be on the table, along with residency extensions.

Japan sees an opportunity to

With ample job losses since the start of 2020, more Americans are uninsured than in recent memory. Being without health insurance takes on new meaning during the coronavirus pandemic, leaving many Americans more vulnerable than before. According to a report by WalletHub, a personal finance website, nine of the top 10 cities with the highest rates of uninsured residents are in Texas.

The study compared overall insurance rates of 548 U.S. cities from 2019 census data, measuring within the “city proper,” and excluding greater metro areas. Health insurance rates by age, ethnicity and income were also measured.

Washington, D.C., ranked first for large cities with the lowest uninsured rates, with less than 4% of adults being uninsured, followed by Seattle, San Francisco, Boston and Honolulu. Houston topped the other end of the list for highest uninsured rates among large cities, with an uninsured rate of more than 28%.

Here are the 10 cities with the highest uninsured rates according to WalletHub:

  1. Houston, TX
  2. Passaic, NJ
  3. McAllen, TX
  4. Garland, TX
  5. Pasadena, TX
  6. Laredo, TX
  7. Edinburg, TX
  8. Mission, TX
  9. Brownsville, TX
  10. Pharr, TX

Here are the 10 cities with the lowest uninsured rates according to WalletHub:

  1. Newton, MA
  2. Cambridge, MA
  3. Quincy, MA
  4. Plymouth, MN
  5. Fremont, CA
  6. Ellicott City, MD
  7. Union City, CA
  8. Alameda, CA
  9. Naperville, IL
  10. Pleasanton, CA

Source Article

  • A report by UBS analyzed price growth in 25 major urban housing markets around the world from the second quarter of 2019 through the second quarter of 2020.
  • Of those markets, 7 are in bubble risk territory, meaning at risk of a housing market crash.
  • The top 3 are Munich, Frankfurt, and Toronto.
  • Visit Business Insider’s homepage for more stories.

On a global scale, the housing market has shown strength during the coronavirus pandemic, despite the economic downturn. 

A recent report by UBS identified three factors for its resilience.

First, as home prices are a backward-looking indicator of the economy, UBS said they react with a delay to economic downturns. The number of transactions declined in most cities in the second quarter of 2020 compared with the previous year, “complicating price formation and reducing the validity of observed prices.”

Second, the majority of potential home buyers didn’t suffer direct income losses in the first half of 2020, UBS found. “Credit facilities for companies and short-time work schemes mitigated the fallout from the crisis, supporting employees’ housing affordability.”

And third, governments helped homeowners in many cities during the lockdown periods, with increased housing subsidies, lowered taxes, and suspension of foreclosure procedures.

The report analyzed annual house price growth rates in 25 major cities from 2001 through the second quarter of 2020. The markets in the study were Munich, Hong Kong, Zurich, Paris, Singapore, London, Geneva, Frankfurt, Stockholm, Vancouver, Milan, Toronto, Tel Aviv, Sydney, New York, Moscow, Amsterdam, Madrid, Tokyo, San Francisco, Los Angeles, Boston, Warsaw, Dubai, and Chicago.

In 21 of those cities, price growth accelerated over the past four quarters, a trend that USB called unsustainable. 

In fact, according to the UBS Global Real Estate Bubble Index, seven of the cities in the analysis are in bubble-risk territory, or at

An hour away on the train from London, the cathedral city of Winchester has long appealed to people working in the capital and looking to move out. But the months of lockdown have sent the Hampshire town’s rental market into overdrive, with inquiries over this summer running at 19 times last year’s levels.



a house with trees in the background: Photograph: Alamy


© Provided by The Guardian
Photograph: Alamy

Related: It’s ‘on a road to nowhere’, but Norfolk is a magnet for city-dwellers

Data from two large estate agents, shared with the Observer, shows that the “race for space” and a desire to prepare for a winter spent mainly at home are rapidly reshaping the property market.

Prices are on the increase in green and pleasant commuter towns, while rents for flats in some areas of central London are sharply down, by up to 20%. The Nationwide house price survey showed the average price of a home in the UK last month was just over £226,000, up 5% on a year earlier, and the fastest rate of increase since 2016.



a house with bushes in front of a building: The small cathedral city of Winchester is showing a distinct shortage of properties as Londoners look to move.


© Photograph: Alamy
The small cathedral city of Winchester is showing a distinct shortage of properties as Londoners look to move.

Some of that increase is down to pent-up demand from those who would have moved during lockdown; some is down to the temporary stamp duty cuts. But Robert Gardner, Nationwide’s chief economist, also points to behavioural shifts as people “reassess their housing needs and preferences as a result of life in lockdown”.

Nationwide pointed in particular to the south-west of England and the commuter towns surrounding London, where house prices were up by more than 5% year on year in the third quarter of 2020.

The most important feature buyers are looking for is a garden. The second-biggest request is a study or home office

Dylan Kinsella,

  • A report by UBS analyzed price growth in 25 major urban housing markets around the world from the second quarter of 2019 through the second quarter of 2020.
  • Of those markets, 7 are in bubble risk territory, per the UBS Global Real Estate Bubble Index.
  • Visit Business Insider’s homepage for more stories.

On a global scale, the housing market has shown strength during the coronavirus pandemic, despite the economic downturn. 

A recent report by UBS identified three factors for its resilience.

First, as home prices are a backward-looking indicator of the economy, UBS said they therefore react with a delay to economic downturns. The number of transactions declined in most cities in the second quarter of 2020 compared with the previous year, “complicating price formation and reducing the validity of observed prices.”

Second, the majority of potential home buyers didn’t suffer direct income losses in the first half of 2020, UBS found. “Credit facilities for companies and short-time work schemes mitigated the fallout from the crisis, supporting employees’ housing affordability.”

And third, governments helped homeowners in many cities during the lockdown periods, with increased housing subsidies, lowered taxes, and suspension of foreclosure procedures.

The report analyzed annual house price growth rates in 25 major cities from 2001 through the second quarter of 2020. The markets in the study were Munich, Hong Kong, Zurich, Paris, Singapore, London, Geneva, Frankfurt, Stockholm, Vancouver, Milan, Toronto, Tel Aviv, Sydney, New York, Moscow, Amsterdam, Madrid, Tokyo, San Francisco, Los Angeles, Boston, Warsaw, Dubai, and Chicago.

In 21 of those cities, price growth accelerated over the past four quarters, a trend that USB has called unsustainable. 

In fact, according to the UBS Global Real Estate Bubble Index, seven of the cities in the analysis are in bubble-risk territory. 

Price growth rates recorded in the analysis are