America’s Most Diverse Cities

Source: Statista

Which cities in the United States are the most diverse? It depends on the definition. A Statista analysis of American Community Survey data shows that the metro areas appearing most diverse at first glance might not be the most mixed places after all.

Out of almost 400 metro areas listed with the Census Bureau in the 50 U.S. states, the ones where the biggest shares of the population identify as a race other than white can be found in California, Texas and Hawaii. El Centro in California – registering the highest share of non-white population at 82.3 percent – as well as Laredo, McAllen-Edinburg-Mission and El Paso in Texas all hug the border with Mexico, which has led to especially high Latino populations in these places. According to the Census, Latinos in the U.S. most often identify their race as “other” or “more than one race”, while around 20 percent define their race as white. This leads to the share of the Latino populations of the four aforementioned metros ranging between 83 percent in El Paso and a whopping 96 percent in Laredo. Urban Honolulu and the Kahului-Wailuku-Lahaina metro in Hawaii as well as San Jose-Sunnyvale-Santa Clara, Calif., meanwhile owe their high non-white populations to the concentration of another race: Asians. Their share ranges from 30 percent to 42 percent in these metros.

However, does a high shares of a single race or ethnicity other than white people constitutes true diversity? In another approach, an index score calculated by Statista measures the divergence of the racial and ethnic makeups of metro areas from the U.S. average. Here, Texas’ College Station-Bryan, a metro of around 270,000 people home to the flagship campus of Texas A&M University, is the city most closely matching the U.S. average. The metro’s white population stands at around 65 percent, a little higher than the 61.2 percent U.S. average. Apart from that, divergence remains under one percentage point for most races, with the notable exception of Latinos, whose share is 8 percentage points higher. But with white populations reaching as high as 72 percent (in the case of Wichita) within the top 8 of this index, it also is an imperfect way to measure diversity.

Finally, a second index that combines both aspects – divergence from the U.S. average racial and ethnic distribution and divergence from the United States’ most non-white metro – hits on more of the country’s large cities. The list is led by New York City, followed by Washington D.C., Chicago, Atlantic City, NJ, and San Francisco. In the case of New York, a white population of around 46 percent, combined with somewhat elevated levels of inhabitants from all other races and ethnicities facilitates the top score. In ranks 6 to 8, Bridgeport-Stamford-Norwalk in Connecticut reappears, followed by Goldsboro, North Carolina, and Trenton-Princeton, New Jersey.

Infographic: America's Most Diverse Cities | Statista

Redfin Report: Wildfires Threaten $1.5 Trillion Worth of Homes in the United States

Housing Markets in California’s Los Angeles, Orange and Santa Clara Counties are at the Greatest Risk of Wildfire Destruction but Local Homebuyers are Not Deterred

SEATTLE, Feb. 5, 2018 (PRNewswire) (NASDAQ: RDFN) — Wildfires threaten $1.5 trillion worth of homes in the United States, representing a disproportionately large portion–7.7 percent–of U.S. housing value, according to Redfin, (www.redfin.com), the next-generation real estate brokerage. The counties at the greatest risk–California’s Los Angeles, Orange and Santa Clara–are among the country’s most expensive housing markets and are already plagued by ongoing inventory shortages. But local real estate agents say the wildfire risk is not deterring homebuyers from continuing to put down roots in these communities.

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“People who are still in shock from losing their homes and possessions from the October fires are greeting one another at open houses while comparing notes on the hotels or rentals where they are temporarily living,” said Redfin Santa Rosa agent Starling Scholz. “People view wildfire risk as a price of living in California that’s well worth the rewards: beautiful weather, nature and well-paying jobs.”

Below are the top 10 counties for risk of wildfire destruction, ranked according to the estimated total value of homes at risk. To be considered, there had to have been at least five major fires recorded by the Federal Emergency Management Agency (FEMA) in the county since 1960. Los Angeles, Orange and Santa Clara counties top the list, which is dominated by California counties. The only non-California counties to make the list were Harris and Dallas counties in Texas and Clark county in Nevada. California is so predominant in the ranking not only because of the state’s high frequency of wildfires, but also because of its desirable, expensive housing markets. If demand for homes in these places doesn’t subside, inventory shortages and affordability crises in these places will likely continue as wildfires inevitably destroy more homes each year.

Top 10 U.S. Counties for Fire Risk

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“Restrictive zoning and underbuilding make wildfires even more damaging for homeowners and renters in affected areas. Despite strong demand and severe inventory shortages, California has built the fewest number of homes per new resident of any state, with just one unit for every four new residents, compared to one new unit for every 1.8 new residents nationally,” said Redfin chief economist Nela Richardson. “When people whose homes just burned down are jumping back into bidding wars to buy new homes in the same area, you know wildfires alone won’t cool these competitive markets. However, California’s chronic lack of homes and eroding affordability make recovering from a natural disaster much more challenging than in states like Texas with more adequate housing supply.”

Redfin Santa Barbara agent John Venti has noticed that while wildfires certainly pose a risk to homes, California’s overall affordability is a bigger concern for homebuyers.

“I was touring with clients last month, and in the 15 minutes it took to see the home, our cars were completely covered in ash from nearby wildfires,” said Venti. “The homebuyers were not fazed. If anything, people are more often deterred from buying homes in this area by high gas prices and high taxes than wildfires.”

For the people who are still interested in buying homes in wildfire zones, Venti has some advice.

“It’s important to get a fire insurance quote before falling in love with a home,” he said. “We’ve had people and properties receive exorbitantly high quotes for fire insurance. Others were flat-out denied coverage because the home was too risky or the buyer had a large outstanding claim from a previous fire. California FAIR Plan property insurance may be able to provide insurance for homes that have been denied coverage.”

The full report, complete with a detailed methodology, can be found here: https://www.redfin.com/blog/2018/02/wildfires-threaten-1-5-trillion-worth-of-homes-in-the-united-states.html.

About Redfin
Redfin (www.redfin.com) is the next-generation real estate brokerage, combining its own full-service agents with modern technology to redefine real estate in the consumer’s favor. Founded by software engineers, Redfin has the country’s #1 brokerage website and offers a host of online tools to consumers, including the Redfin Estimate, the automated home-value estimate with the industry’s lowest published error rate for listed homes. Homebuyers and sellers enjoy a full-service, technology-powered experience from Redfin real estate agents, while saving thousands in commissions. Redfin serves more than 80 major metro areas across the U.S. The company has closed more than $50 billion in home sales.



The Most Expensive Home in America

We posted the press release about the most expensive home in America earlier today but there is more, lots more to see.

Of course the home has a single property Website and, as you would expect, a video. Enjoy!

News Wolf add:

Inside the $250m Bel Air mansion built by Bruce Makowsky. What billionaires’ dreams are made of: The most expensive home ever listed in America goes on sale for $250MILLION – complete with a helicopter, two champagne cellars and a $220K candy room Priciest property in the country went up for sale Wednesday in Los Angeles’ Bel Air neighborhood The 38,000-sqft home has 12 bedrooms, 21 bathrooms, 130 works of art and a $30M car collection QVC handbag tycoon Bruce Makowsky developed the home, inspired by his own glamorous lifestyle The Bel Air property has a bowling alley, a movie theater and – of course – a pool with its own swim-up bar Makowsky has also factored in the costs of seven live-in employees who will work at the property full-time

The most expensive home ever listed in the United States has just hit the market in Bel Air, Los Angeles at a whopping $250million.

Handbag tycoon and owner-developer Bruce Makowsky dreamed up the extravagant property, drawing inspiration from his own glamorous lifestyle. It has dethroned the previous record-holder, a $195million mega-mansion in Manalapan, Florida.

The 38,000-square-foot mansion, which comes with custom-made luxury furnishings, houses 12 bedrooms, 21 bathrooms, three kitchens, a bowling alley, a movie theater, an 85-foot infinity pool with its own bar, and a candy room filled with $200,000 worth of treats.

Makowsky also included a car collection worth $30million and 130 works of art, and topped his billionaire’s paradise with a helicopter. The mogul developed the property without a buyer lined up but says more than half a dozen people are interested.

The $250million price tag doesn’t just include material amenities. Makowsky has also factored in the costs of seven live-in employees who will work at the property full-time, the Los Angeles Times reported. He will pay their salaries for two years.

The tycoon, who built his fortune selling handbags on QVC, has sold nine billionaire homes in the past six years. He got the idea for the mega-mansion by watching wealthy travelers invest in yachts.

‘Today, people are spending $300million on a boat, and they use it about eight weeks a year,’ he told the newspaper. ‘Then they are living in a $30million to $40million home.’

Makowsky thought this didn’t make sense and resolved to build a property akin to a luxury yacht, but on land. He said some have already expressed interest in the listing.

The property also has a garage filled with 12 luxury vehicles, including a $15-million-plus Von Krieger 1936 Mercedes 540 K Special Roadster and a $2million one-of-a-kind Pagani Huayra.

He doesn’t plan to host an extravagant open-house and wants instead to show the property to restricted groups of potential buyers. Only one of the world’s estimated 1,810 billionaires could possibly afford the home – maybe one of the 540 who live in the United States according to Forbes.

Makowsky believes the mega-mansion’s occupant will have homebody propensities, someone who will be too busy enjoying their billionaire haven to explore the area.

‘People spend over half their lives in their home,’ he told CNBC. ‘So when you’re home, it should be the ultimate oasis. You should have every single entertainment feature you could have in one home.’

Real estate professor Paul Habibi meanwhile told the LA Times who he think will not be interested in the extravagant home.

‘Anybody who has had money for a long time knows better than to spend it on a $250million house,’ he said.

At $250million, the 38,000-square-foot, 12-bedroom house includes luxurious amenities, such as this massage room

Inside the mega-mansion lies a candy room (pictured) filled with $200,000 worth of treats and several foosball tables

Next to the candy room, guests can walk to the property’s private bowling alley (pictured) with custom-made furnishings

An extravagant James Bond-themed, $2million screening room (pictured) can sit 40 guests on Italian leather reclining chairs

Inside the home is this Hermes Equateur Blanket, made out of cashmere and hand-embroidered with fine beads and pearls. IT has been encased between starfire glass panels with custom-made standoffs

Also included in the art collection is this stainless over-sized Leica camera sculpture made by artist Liao Yibai

Inside the property is this sculpture by Gale Hart, who has produced several gun-themed works of art over the years

The owner of the property will enjoy these Lamborghini clock walls and vintage gas cans and fire extinguishers from 1892

Two more of Gale Hart’s firearm-themed works of art can be found in a different part of the extravagant, artsy property

On the roof sits the original helicopter from the TV show Airwolf, which ran from 1984 to 1987. The helicopter was refurbished over twelve months and customized to incorporate the luxurious details of the house.

Wow. Just wow.