The skyrocketing cost of living in New York City is forcing creative professionals, including makeup artists, designers, and filmmakers, to leave the cultural hub for more affordable cities like Miami, Dallas, and Nashville.

Noel Jacoboni, a TV and cinema makeup artist with 20 years of experience, says she sees little choice but to move, citing “being priced out” due to steep rents and rising production costs.

A recent report by the Center for an Urban Future reveals that since 2019, the number of workers in creative industries across New York has dropped by 6.1 percent. Sectors including cinema, TV, advertising, and design have experienced notable declines, with cinema and TV employment down 19.1 percent, advertising down 15.7 percent, and design down 14.3 percent.

Income vs. Rent Gap

The report highlights a widening gap between income and living costs. Creatives in New York earn approximately 23% less than the national average after accounting for the high cost of living, compared to 15% a decade ago. Median household rent has surged by 42% over the last ten years, while creative salaries increased by only 25%, significantly below the citywide average salary increase of 44%.

Eli Dvorkin, an author of the report, notes, “Artists were hit hardest during the COVID-19 pandemic, and now costs are rising faster than incomes, pushing many to seek opportunities elsewhere.”

Impact on New York’s Cultural Scene

The exodus of talent has taken a toll on New York’s cultural institutions. More than 50 theaters, music venues, museums, and galleries have closed since 2020, citing high rents, insurance costs, and operational expenses. Even major cultural landmarks like the Metropolitan Opera and the Guggenheim Museum have implemented layoffs. Broadway productions also face challenges, with only four musicals turning a profit over the past six years.

City Efforts to Retain Creative Talent

Mayor Zohran Mamdani and his administration have acknowledged the affordability crisis. Rafael Espinal, the city’s head of media and entertainment, emphasized the importance of keeping New York “the creative capital of the world,” ensuring that artists can live and work sustainably in the city. Initiatives include expanding rent-controlled housing for artists and increasing access to well-paying union jobs.

Julie Menin, Speaker of the New York City Council, and the Center for an Urban Future have also proposed citywide cultural festivals and targeted housing policies to rejuvenate the creative sector and retain talent.

As New York City continues to face steep living costs, the future of its creative workforce and its status as a global cultural hub, depends on balancing opportunity, affordability, and sustainable urban development.

The post US: High Cost of Rent Pushes Workers Out of City appeared first on Housing TV Africa.

Nigeria’s cost of living eased in September 2025 as headline inflation fell to 18.02%, with several states recording lower rates, according to the National Bureau of Statistics (NBS). The ranking is based on headline inflation, showing where prices of essential goods and services rose the least.

10. Jigawa – 16.3%

Inflation dropped from 23.1% to 16.3%, driven by government agricultural programmes like the Rice Millionaire Project and Special Agro-Processing Zones.

9. Akwa Ibom – 16.3%

Down from 20.7% in August, with food inflation at 9%. A new ₦695 billion budget and food security committee helped stabilise prices.

8. Imo – 15.8%

Improved security and stable housing costs reduced inflation from 18.3% to 15.8%, with food inflation at 12.4%.

7. Ebonyi – 14.8%

Inflation eased from 21.2% to 14.8%. Despite strong farm output, transport and distribution costs remain high.

6. Bayelsa – 14.8%

Inflation dropped from 23.8% but food inflation rose to 21.9% due to high import dependence.

5. Sokoto – 14%

Inflation fell sharply from 22.5%. Salary support to civil servants helped ease short-term pressures.

4. Enugu – 12.4%

Transport and rent relief cut inflation from 14.2%. Fertilizer distribution supported food supply.

3. Bauchi – 12.4%

Inflation declined from 15.3%, food inflation to 2.8%, supported by better roads, fertilizer subsidies, and grain reserves.

2. Niger – 11.8%

Inflation halved from 25.5%. Flood relief, road repairs, and food aid helped stabilise prices.

1. Anambra – 9.3%

Now Nigeria’s most affordable state, down from 14.2%. Market digitalisation and rural water projects reduced costs.

Overall, agricultural expansion, infrastructure upgrades, and relief programmes are helping many states achieve lower living costs despite national inflation pressures.

The post 10 Most Affordable States – Cost of living in Nigeria appeared first on Housing TV Africa.

This resurgence has pushed the market’s overall value to £379 billion, marking a 6.3% growth compared to the previous year.

Despite remaining below the pandemic peak of £521 billion, the current figures are still £36 billion higher than pre-pandemic levels. This reinforces the sector’s resilience and ongoing recovery.

Mortgage Stability Drives Market Confidence

Industry analysts credit this rebound to improved stability in the mortgage market. A growing number of buyers are regaining confidence. Lucian Cook, head of residential research at Savills, highlighted that as mortgage rates stabilize and interest rate cuts are expected, buyer demand will likely increase.

Regional Housing Market Growth

Regional trends have varied across the UK. Northern Ireland saw the highest percentage increase in spending at 13.4%, but it still makes up only 1.4% of the total market, valued at £5.1 billion.

The South East overtook London for the first time in two years, with its market size reaching £74.5 billion. London, on the other hand, grew by just 2.3%, bringing its market value to £72.8 billion.

Other regions also saw growth:

• Scotland recorded a 9.8% increase
• The South East climbed by 9.6%
• The North West expanded by 7.1%
• The North East had minimal growth at just 0.2%

Future Outlook for the UK Housing Market

Experts predict that falling interest rates and improving economic stability will further boost the market. In 2024, over 1.1 million property transactions took place, with the average home selling for £343,822.

With strong demand and better affordability on the horizon, industry leaders remain optimistic that the housing market will continue its upward trajectory into 2025.

The post UK Housing Market Booms with Billions in Growth, Signaling Strong Recovery appeared first on Housing TV Africa.