World
California’s Newsom goes to Washington; 2024 chatter follows
LOS ANGELES (AP) — As California Democratic Gov. Gavin Newsom heads to Washington this week, hypothesis about his nationwide political ambitions received’t be far behind.
The three-day swing, anchored to an award Newsom will obtain on behalf of his residence state Wednesday from an schooling group, will present the Democratic governor with a nationwide stage to proceed his outspoken protection of abortion rights and gun restrictions.
It comes at a time when he has been selecting fights with Republican governors in Texas and Florida and holding up California as a sanctuary for what he calls elementary rights, together with same-sex marriage, freedom of speech and abortion.
Newsom’s latest actions have stoked discuss his White Home ambitions as President Joe Biden’s reputation tumbles and a few Democrats query the president’s viability for 2024. Newsom, a former San Francisco mayor, has dismissed any curiosity within the presidency, and Biden has mentioned he’s planning to run for reelection.
“That is Gavin Newsom constructing his nationwide model for no matter alternatives would possibly come up sooner or later,” mentioned Thad Kousser, a political science professor on the College of California, San Diego.
“He’s savvy sufficient to know plenty of dominoes must fall for his future to come back in 2024, however that makes it much more important to take each alternative to remain within the nationwide consciousness for 2028” and past, Kousser added.
The president might be on a Center East journey throughout Newsom’s cease in Washington. The governor’s workplace mentioned the president’s absence was coincidental.
On his journey, Newsom is scheduled to satisfy with Biden administration officers, congressional leaders and members of the California delegation to debate abortion entry, gun management and local weather change.
He may even be accepting an award from the Schooling Fee of the States that acknowledges, amongst different issues, that California is on monitor to determine common pre-Ok lessons for all 4-year-olds by 2025. Newsom spokesperson Erin Mellon mentioned that “what is occurring on the schooling entrance displays what we’re seeing throughout the nation – proscribing rights and freedoms.”
“Whereas crimson states are limiting the alternatives of oldsters and college students – banning books, limiting speech within the lecture rooms, and persecuting households with transgender youth — California is prioritizing freedom and selection,” she mentioned in an announcement.
The 54-year-old governor has acknowledged he’s hoping that points like abortion rights will mobilize Democratic voters in a difficult midterm election 12 months, when the president’s social gathering sometimes loses seats in Congress.
After simply beating again a recall election final 12 months and going through solely token opposition in his bid for a second time period in November, Newsom has sought out the nationwide highlight in latest months, blaming his personal social gathering for being too passive within the face of federal courtroom choices and new legal guidelines in Republican-led states that he mentioned are eroding long-settled rights and rewriting what it means to be an American.
Together with the U.S. Supreme Courtroom choices overturning Roe v. Wade and holding that residents have a proper to hold firearms in public for self-defense, he’s pointed to a Texas legislation that bans abortions after a fetal heartbeat might be detected, presumably as early as six weeks, and a Florida legislation that forbids classroom instruction on sexual orientation and gender id in kindergarten by way of third grade.
On Independence Day, Newsom’s marketing campaign aired an advert in Florida important of Republican Gov. Ron DeSantis, a possible 2024 presidential candidate, warning viewers that “freedom is beneath assault in your state.”
Republican leaders are “making it tougher to vote, proscribing speech in lecture rooms, even criminalizing girls and medical doctors,” Newsom mentioned within the 30-second spot, whereas photos of DeSantis and former President Donald Trump flashed on display.
“The DeSantis imaginative and prescient of freedom is a fraud,” Newsom wrote in a latest fundraising pitch. “It’s a imaginative and prescient the place persons are free to hold weapons in all places and everybody has to reside in worry of getting shot.”
California, in the meantime, has been going its personal manner.
Final month, legislators with Newsom’s assist agreed to put a proposal earlier than voters in November that may assure a proper to an abortion within the state structure. The closely Democratic state has a few of the nation’s tightest gun security legal guidelines however has continued to develop them after the latest Supreme Courtroom resolution, together with including new restrictions on untraceable “ghost weapons” and advertising and marketing firearms to minors.
As he maneuvers for a distinguished place within the nationwide social gathering, Newsom may discover himself attracting undesirable consideration.
California residents are coping with a long-running homeless disaster, hovering gasoline and grocery costs and rising crime in main cities. Housing prices are out of attain for a lot of working-class households, and the state has a few of the nation’s highest taxes.
A Public Coverage Institute of California survey in Might discovered that fifty% of respondents believed the state was headed within the unsuitable route. And maybe most tellingly, California has been shedding inhabitants — and it’s shedding a congressional seat — after years of stratospheric development.
Longtime Democratic marketing consultant Invoice Carrick mentioned he noticed Newsom making a vocal stand on nationally important points fairly than maneuvering to get his identify into the 2024 presidential dialogue.
“We had these two courtroom choices that had a deep impression on California,” Carrick mentioned. “He’s an necessary voice in that debate and he must characterize the state as vigorously as he can.”
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Observe AP’s protection of the midterm elections at https://apnews.com/hub/2022-midterm-elections and on Twitter at @AP_Politics
World
Israel keeping its ‘eyes open’ for Iranian attacks during Trump transition period, ambassador says
Israel’s U.N. Ambassador Danny Danon tells Fox News Digital that his country is keeping its “eyes open” for any potential aggression from Iran during the Trump transition period, adding it would be a “mistake” for the Islamic Republic to carry out an attack.
The comments come after Iranian Foreign Minister Abbas Araghchi vowed earlier this week that Iran would retaliate against Israel for the strategic airstrikes it carried out against Tehran on Oct. 26. Araghchi was quoted in Iranian media saying “we have not given up our right to react, and we will react in our time and in the way we see fit.”
“I would advise him not to challenge us. We have already shown our capabilities. We have proved that they are vulnerable. We can actually target any location in Iran. They know that,” Danon told Fox News Digital.
“So I would advise them not to make that mistake. If they think that now, because of the transition period, they can take advantage of it, they are wrong,” he added. “We are keeping our eyes open and we are ready for all scenarios.”
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Danon says he believes one of the most important challenges for the incoming Trump administration will be the way the U.S. deals with Iran.
“Regarding the new administration, I think the most important challenge will be the way you challenge Iran, the aggression, the threat of the Iranian regime. I believe that the U.S. will have to go back to a leading position on this issue,” he told Fox News Digital.
“We are fighting the same enemies, the enemies of the United States of America. When you look at the Iranians, the Houthis, Hezbollah, Hamas, all those bad actors that are coming against Israel… that is the enemy of the United States. So I think every American should support us and understand what we are doing now,” Danon also said.
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Danon spoke as the U.S. vetoed a draft resolution against Israel at the U.N. Security Council on Wednesday.
The resolution, which was overseen by Algeria, sought an “immediate, unconditional and permanent cease-fire” to be imposed on Israel. The resolution did not guarantee the release of the hostages still being held by Hamas within Gaza.
“It was a shameful resolution because… it didn’t have the linkage between the cease-fire and the call [for] the release of the hostages. And I want to thank the United States for taking a strong position and vetoing this resolution,” Danon said. “I think it sent a very clear message that the U.S. stands with its strongest ally with Israel. And, you know, it was shameful, too, to hear the voices of so many ambassadors speaking about a cease-fire but abandoning the 101 hostages. We will not forget them. We will never abandon them. We will continue to fight until we bring all of them back home.”
Fox News’ Benjamin Weinthal contributed to this report.
World
Fact-check: What do we know about Russia’s nuclear arsenal?
Moscow has lowered the bar for using nuclear weapons and fired a missile capable of carrying a nuclear warhead into Ukraine, heightening tensions with the West.
Russia’s nuclear arsenal is under fresh scrutiny after an intermediate-range ballistic missile capable of carrying an atomic warhead was fired into Ukrainian territory.
President Vladimir Putin says the unprecedented attack using the so-called “Oreshnik” missile is a direct response to Ukraine’s use of US and UK-made missiles to strike targets deep in Russian territory.
He has also warned that the military facilities of Western countries allowing Ukraine to use their weapons to strike Russia could become targets.
The escalation comes days after the Russian President approved small but significant changes to his country’s nuclear doctrine, which would allow a nuclear response to a conventional, non-nuclear attack on Russian territory.
While Western officials, including US defence secretary Lloyd Austin, have dismissed the notion that Moscow’s use of nuclear weapons is imminent, experts warn that recent developments could increase the possibility of nuclear weapons use.
Here’s what we know about Russia’s inventory of atomic weapons.
How big is Russia’s nuclear arsenal?
Russia holds more nuclear warheads than any other nation at an estimated 5,580, which amounts to 47% of global stockpiles, according to data from the Federation of American Scientists (FAS).
But only an estimated 1,710 of those weapons are deployed, a fraction more than the 1,670 deployed by the US.
Both nations have the necessary nuclear might to destroy each other several times over, and considerably more atomic warheads than the world’s seven other nuclear nations: China, France, India, Israel, North Korea, Pakistan and the United Kingdom.
Of Moscow’s deployed weapons, an estimated 870 are on land-based ballistic missiles, 640 on submarine-launched ballistic missiles, and potentially 200 at heavy bomber bases.
According to FAS, there are no signs Russia is significantly scaling up its nuclear arsenal, but the federation does warn of a potential surge in the future as the country replaces single-warhead missiles with those capable of carrying multiple warheads.
Russia is also steadily modernising its nuclear arsenal.
What could trigger a Russian nuclear response?
Moscow’s previous 2020 doctrine stated that its nuclear weapons could be used in response to an attack using nuclear or other weapons of mass destruction “when the very existence of the state is put under threat.”
Now, the conditions under which a nuclear response could be launched have changed in three crucial ways:
- Russia will consider using nuclear weapons in the case of a strike on its territory using conventional weapons, such as cruise missiles, drones and tactical aircraft.
- It could launch a nuclear attack in response to an aggression by a non-nuclear state acting “with the participation or support of a nuclear state”, as is the case for Ukraine.
- Moscow will also apply the same conditions to an attack on Belarus’ territory, in agreement with President Lukashenko.
Is there a rising nuclear threat?
The size of the world’s nuclear stockpiles has rapidly decreased amid the post-Cold War détente. The Soviet Union had some 40,000 warheads, and the US around 30,000, when stockpiles peaked during the 1960s and 70s.
But FAS warns that while the overall number is still in decline, operational warheads are on the rise once again. More countries are also upgrading their missiles to deploy multiple warheads.
“In nearly all of the nuclear-armed states there are either plans or a significant push to increase nuclear forces,” Hans M. Kristensen, Director of the Nuclear Information Project at the Federation of American Scientists (FAS), said in June this year.
Is the West reacting?
When Putin approved the updated nuclear protocol last week, many Western leaders dismissed it as sabre rattling.
German Foreign Minister Annalena Baerbock said Germany and its partners would “not be intimidated” and accused Putin of “playing with our fear.”
But since Russia used a hypersonic ballistic missile capable of carrying a nuclear warhead in an attack on Dnipro, European leaders have raised the alarm.
“The last few dozen hours have shown that the threat is serious and real when it comes to global conflict,” Polish Prime Minister Donald Tusk said on Friday.
According to Dutch media reports, NATO’s secretary-general Mark Rutte is in Florida to urgently meet President-elect Donald Trump, potentially to discuss the recent escalation.
NATO and Ukraine will hold an extraordinary meeting in Brussels next Tuesday to discuss the situation and the possible allied reaction, according to Euronews sources.
World
Rental home investors poised to benefit as mortgage rates, high home prices sideline buyers in 2025
LOS ANGELES (AP) — Rental homes will remain an attractive option next year to would-be homebuyers sidelined by high mortgage rates and rising home prices, analysts say.
American Homes 4 Rent and Invitation Homes are two big real estate investment trusts poised to benefit from the trend, say analysts at Mizuho Securities USA and Raymond James & Associates.
Their outlooks boil down to a simple thesis: Many Americans will continue to have a difficult time finding a single-family home that they can afford to buy, which will make renting a house an attractive alternative.
It starts with mortgage rates. While the average rate on a 30-year mortgage fell to a two-year low of 6.08% in late September, it’s been mostly rising since then, echoing moves in the 10-year Treasury yield, which lenders use as a guide to pricing home loans.
The yield, which has hovered around 4.4% this week, surged after the presidential election, reflecting expectations among investors that President-elect Donald Trump’s proposed economic policies may widen the federal deficit and crank up inflation.
Analysts at Raymond James and Associates say they see mortgage rates remaining “higher for longer,” given the outcome of the election. Last week, they reiterated their “Outperform” ratings on American Homes 4 Rent and Invitation Homes, noting “we are increasingly confident in the longer-term outlook for single-family rental fundamentals and the industry’s growth prospects.”
They also believe the two companies will continue to benefit from “outsized demographic demand for suburban homes,” and the monthly payment gap between renting and owning a home, which they estimate can be as much as 30% less to rent.
Analysts at Mizuho also expect that homeownership affordability hurdles will maintain “a supportive backdrop” and stoke demand for rental houses, helping American Homes 4 Rent and Invitation Homes to maintain their tenant retention rates.
The companies are averaging higher new and renewal tenant lease rates when compared to several of the largest U.S. apartment owners, including AvalonBay, Equity Residential and Camden Property Trust, according to Mizuho. It has an “Outperform” rating on American Homes 4 Rent and a “Neutral” rating on Invitation Homes.
Shares in Invitation Homes are down 1.2% so far this year, while American Homes 4 Rent is up 4.4%. That’s well below the S&P 500’s 24% gain in the same period.
While individual homeowners and mom-and-pop investors still account for the vast majority of single-family rental homes, homebuilders have stepped up construction of new houses planned for rental communities.
In the third quarter, builders broke ground on about 24,000 single-family homes slated to become rentals. That’s up from 17,000 a year earlier. In the second quarter, single-family rental starts climbed to 25,000, the highest quarterly total going back to at least 1990, according to an analysis of U.S. Census data by the National Association of Home Builders.
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