Insider Finance - Business - Millennial homebuyers are screwed

Hello, Insiders. In this remote-work era, there’s something I’ve been thinking about a lot: Homeownership. This week, I’ll be devoting my notes to this topic. But I want to start somewhere near and dear to my heart: Florida. It’s where I grew up. It’s where financial power player Ken Griffin is moving. And it was the fastest-growing state in 2022.

A few reasons for that: low costs (in theory), better weather, and the surge in remote work. But new Floridians told us they’ve regretted moving. Housing prices are going up — resulting in low affordable inventory. Flood-prone coastal homes could be tough to re-sell. Plus, there’s surprisingly high bills and intense storms. 

I want to hear from the Floridians reading this. What’s your take? How has this surge in new residents changed the state? Let me know: insidertoday@insider.com. And now, the news.

— Nicholas Carlson

Inside Ken Griffin's rise to becoming one of Wall Street's most powerful people — and what’s next.

To set the stage for how powerful of a figure Griffin is in the world of finance, I’ll hand things over to Insider’s Dan DeFrancesco, who writes our 10 Things on Wall Street newsletter (sign up for it here!):

2022 was another banner year for both Griffin's hedge fund (Citadel posted $28 billion in revenue and a 38.1% return on its main fund) — and his trading firm (Citadel Securities nabbed $7.5 billion in revenue, per the WSJ).

So where do you go when you've already reached the top? Chief finance correspondent Dakin Campbell has a profile on Griffin, including his increased push into politics via eye-popping donations to conservative candidates. 

The story, which includes a conversation with Griffin himself, is a fascinating look at how one gets to, and stays at, the top of one of the most competitive industries in the world.

See inside this 3D-printed tiny home in Maine. A team from the University of Maine printed the 600-square-foot home using fully recyclable materials — and it’s surprisingly luxurious. The team hopes this innovation could help sustainably alleviate the US’s affordable-housing crisis. Take a look around.