$100,000 H-1B Fee Blocked Again in Court of Appeals
The Donald Trump administration’s attempt to increase
the application fee for the H-1B specialty occupation visa
to $100,000 has hit another roadblock.
Reuters reported on the 24th that the U.S. Court of Appeals for the First
Circuit, based in Boston, rejected the Trump administration’s request to stay
the effect of a lower court ruling that halted the visa fee increase.
Former President Trump announced last September that he would increase
the H-1B visa fee 100-fold, raising it from the current $1,000 to $100,000.
This decision stemmed from the perception that companies hiring low-wage
foreign workers on H-1B visas were taking jobs away from Americans.
When the Trump administration decided to raise the fee for new H-1B
applicants, Democratic attorneys general from 20 states filed a lawsuit to
overturn the decision.
Mortgage Rates Reach Highest Level in 11 Months
As a surge in international oil prices—driven by heightened tensions in the
Middle East—fuels inflation fears, nationwide mortgage rates have recorded
their highest level in 11 months.
According to Freddie Mac, a government-sponsored mortgage agency, the
average rate for a 30-year fixed-rate mortgage in the U.S. rose by 0.03
percentage points from the previous week to 6.58% as of the 23rd.
This marks the highest level in 11 months since August 21 of last year.
Nationwide mortgage rates had fallen below 6% in late February, just before
the outbreak of the U.S.–Iran war, but have maintained an upward trend since
the conflict began.
Mark Fleming, Chief Economist at First American, a specialized housing
finance company, told WSJ: “Considering what has transpired over the past
few days in 10-year Treasury bonds, mortgage rates are likely to approach 7%
in the coming weeks.”
Priced Out In Florida? This Place Is Booming.
Lehigh Acres, about 17 miles from Fort Myers, is booming, fueled by arrivals
from Miami and elsewhere who are drawn to one of the few remaining
affordable areas in the southern part of the state. Florida more broadly is
contending with an affordability problem, as soaring home.
Desiree and Christian De Leon, Miami natives discovered Lehigh Acres, a
vast exurban community east of Fort Myers where Desiree’s parents had
moved and where plenty of listings were in their price range. Last year, they
bought a newly built three-bedroom house for $328,000, with a monthly
mortgage payment almost equal to what they were paying in rent for a
one-bedroom apartment in Orlando.
Lehigh Acres, about 17 miles from Fort Myers, is booming, fueled by arrivals
from Miami and elsewhere who are drawn to one of the few remaining
affordable areas in the southern part of the state.
Is the Fed About to Raise Rates?
Lehigh Acres, about 17 miles from Fort Myers, is booming, fueled by arrivals
from Miami and elsewhere who are drawn to one of the few remaining
affordable areas in the southern part of the state. Florida more broadly is
contending with an affordability problem, as soaring home.
Desiree and Christian De Leon, Miami natives discovered Lehigh Acres, a
vast exurban community east of Fort Myers where Desiree’s parents had
moved and where plenty of listings were in their price range. Last year, they
bought a newly built three-bedroom house for $328,000, with a monthly
mortgage payment almost equal to what they were paying in rent for a
one-bedroom apartment in Orlando.
Lehigh Acres, about 17 miles from Fort Myers, is booming, fueled by arrivals
from Miami and elsewhere who are drawn to one of the few remaining
affordable areas in the southern part of the state.
Hiring Defies Forecast of AI Wipeout
America’s biggest companies say they might need more people after all.
Companies ranging from railroad giant CSX to Google parent Alphabet have
told investors in recent days that they plan to hire to meet growth goals or to
seize on emerging technologies.
Major employers largely held back on adding people due to economic
uncertainties or a belief that artificial intelligence could shoulder more tasks on
the job. But some executives say the costs and limitations of AI now demand
that more people be added; others want to hire people back following layoffs.
Some caution, though, that much remains unclear as AI’s ultimate potential
continues to evolve. “Do we need more people? Do we need less people?”
asked Paul Osterman, a professor emeritus at MIT and the author of
“Disposable Workers,” a new book on the transformation of employment.
“We have no idea. No one has any idea.”
Investors wade back into Commercial Real-Estate
Big banks are on the hunt to grow their loan books and are turning back to an
area they had shunned not that long ago.
Just a few years ago, banks couldn’t get away from commercial real-estate
loans fast enough, fearing potential losses as office vacancy rates remained
elevated after the pandemic.
Now, they are wading back in with a focus on big growth areas like multifamily
housing and industrial real estate, which is being fueled by a boom in big data
center projects. They are doing so with tighter lending standards, they say,
while still working through some troubled loans stemming from continued
distress in some office markets.
Bank of America and U.S. Bancorp’s commercial real-estate loan balances
were each up over 8% in the second quarter from a year ago. Truist
Financial’s by about 25%, and PNC Financial Services Group’s by 15%.
How London’s Planning Rules
Keep Housing Unaffordable
The U.K. capital is at a crisis point. Home construction is nearing a standstill,
thanks to a toxic mix of Byzantine regulations, increased building costs, high
interest rates and politics.
London has an official annual target of 88,000 new homes. It broke ground on
just 4,170 housing units in 2024-25, according to data from the Centre for
Policy Studies, a center-right think tank. During that period, the population
grew by around 100,000.
Economic growth and productivity have taken a hit. Construction employment
in London has weakened by 21% since 2017, according to government data.
In the last quarter of 2025, work stopped on more than 5,000 homes at some
50 development sites, often because the building contractor went bust. Sky
high prices have weakened
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