Housing Costs, Ocean Protection, and Disney’s Costly Plans

Dozens of nations gathered Wednesday to discuss protecting the ocean.

Disney recently announced plans to nearly double its investment in its parks division.

Welcome to PRAY NEWS, where hope is our only bias!

Today’s News at a Glance:

1. Americans are finding it more and more difficult to afford homes.

2. Dozens of nations gathered Wednesday to discuss protecting the ocean.

3. Disney recently announced plans to nearly double its investment in its parks division.

There’s a growing sentiment among the Christian community that the world is becoming worse and everything is going to hell in a handbasket. While we acknowledge this world has evil, heartbreak, and corruption, we don’t want to succumb to hopelessness. We say “hope is our only bias,” not as a promise that we will never have bias, but as a declaration that no matter what, we will cling to the hope of the gospel. If we don’t believe Jesus has overcome the world and that we can make a difference, then what is our faith even for? Today, we declare that hope can prevail even in the midst of dysfunction, destruction, and evil.

“And if a brother or sister is naked and in lack of daily food, and one of you tells them, “Go in peace. Be warmed and filled;” yet you didn’t give them the things the body needs, what good is it? (James 2:15-16)

Dear Lord,

We are reminded that our faith must be accompanied by actions, particularly actions that show love and compassion to those who are in need. It's not enough to wish well; we must do well. Guide us in recognizing the needs of those around us, whether they be material, emotional, or spiritual. Help us not to be blinded by our own comforts or busyness, but to truly see the suffering and needs of others. Equip us, Lord, to be Your hands and feet, offering not just words but meaningful assistance and unconditional love. We thank You for Your grace, which not only saves us but also calls us to a greater purpose of serving others in Your name. In the name of Jesus Christ, who modeled the ultimate form of servant leadership, we pray. Amen.

Smaller Bites:

Here’s today’s news: cut short and sweet with a prayer…

1. The American Housing Crisis

The American housing crisis is affecting both tenants and landlords, with skyrocketing prices making it increasingly difficult to afford homes. In Milwaukee, Wisconsin, for example, wages are not keeping pace with the surge in housing costs, leading to widespread disillusionment with the American Dream. The issue is not merely a result of market trends but is deeply rooted in structural economic challenges, affecting large landlords and first-time homebuyers alike due to high borrowing costs and a focus on luxury developments over affordable housing.

Lord, we lift up those struggling with housing affordability, from tenants to landlords, and ask for Your wisdom and guidance in finding equitable solutions. May our policymakers be led by compassion and a sense of stewardship for our communities, recognizing the dignity and worth of every individual. Help us to advocate for just housing policies and to embody the teachings of James 2:15-16, that faith without deeds is empty. Amen.

2. Dozens of Nations to Sign U.N. Ocean Treat, but Will the Waves of Change Really Roll In?

At least 60 countries are expected to sign a new U.N. treaty aimed at conserving biodiversity and protecting 30% of the Earth's land and sea by 2030. The treaty, described as a "powerful signal" by Greenpeace's interim executive director, requires ratification at the national level and faces challenges in funding and implementation. With threats to the ocean environment escalating, experts stress that immediate action is necessary to meet the treaty's 2025 deadline for the "30 by 30" target.

Heavenly Father, we thank You for the beauty and majesty of Your creation, particularly the oceans that sustain life on Earth. We pray for wisdom and urgency for all nations and individuals involved in the U.N. ocean treaty. Grant them the conviction to move from symbolic gestures to substantive action, aligning with the divine mandate to be stewards of the Earth. May we all strive to preserve and protect Your creation, recognizing that faith without works is lifeless. Amen.

3. Disney’s $60 Billion Gamble

Disney announced plans to invest about $60 billion in its parks division over the next 10 years, amidst a complex landscape that includes navigating modern media and legal battles with Florida's Governor Ron DeSantis. While domestic park attendance has slowed, international parks have seen a 13% revenue increase, and the parks division is expected to generate about $10 billion in profit this year. CEO Bob Iger indicates that the parks will be among Disney's top value-driving businesses in the next five years, even as the company faces challenges in other areas like streaming services.

Dear Heavenly Father, thank You for the creativity and imagination that companies like Disney bring into our lives. We pray for discernment for Christians and all consumers in supporting corporations and engaging with entertainment that aligns with values of justice, inclusivity, and ethical business practices. Help us to remember that while magic and fantasy can bring joy, it's our responsibility to be aware and take mindful steps in our daily lives to uphold what is good and just. Amen.

The American Housing Crisis

The American housing landscape has been subject to intense scrutiny as skyrocketing prices create a sense of urgency for both tenants and landlords alike. The root cause stems from a variety of structural and economic issues, highlighting a nuanced picture that is far more complex than most politicians and policymakers are willing to admit.

The Average American’s Plight

The case of Wisconsin serves as a microcosm of the struggles faced by average Americans in acquiring affordable housing. Over the last year, this swing state has seen a considerable decline in housing affordability. For example, even if a person gets a four percent raise in their income, rents could have surged by as much as 25%, making it incredibly challenging to keep up with the costs.

Furthermore, people looking to renew their leases are confronted with 'sticker shock.' Financial burdens like the first and last month's rent, along with moving costs, make renting or buying a home an unattainable dream for many. This has led to a general sentiment that the promise of the American Dream — often touted by the Democratic party — is falling apart. Notably, this disillusionment does not spare any particular age group; Gen Z, for instance, cited the inability to buy a home as the second-largest source of their unhappiness.

Struggles at the Top: Landlords and Big Investors

Surprisingly, the housing crisis doesn’t discriminate based on your financial statement. Even America’s biggest landlords are finding it difficult to buy new properties due to high borrowing costs and a scarcity of available homes. Major real estate firms like AMH and Invitation Homes are grappling with financial dynamics that have pushed property prices beyond their profit targets.

The Economics of It All

It is essential to recognize that this isn't merely a result of fluctuating market trends but is also an outcome of structural issues. Permanent capital and high interest rates are making it increasingly difficult for first-time homebuyers and large landlords alike to engage in the housing market effectively. Additionally, developers seem more interested in building luxury high-rises rather than affordable housing units, further skewing the market.

Reflection

As we ponder these economic challenges, reflecting on the Christian ideals of community and compassion is crucial. The Bible teaches us to be stewards of the earth, and that includes stewardship of our communities. A society that prices its members out of homes is one that needs both practical change and spiritual reflection.

James 2:15-16 says, “Suppose a brother or a sister is without clothes and daily food. If one of you says to them, ‘Go in peace; keep warm and well fed,’ but does nothing about their physical needs, what good is it?” We should empathize with those affected by the housing crisis and advocate for policies that ensure housing is a right, not a privilege.

The issue of housing affordability is complex and intricately tied to economic, social, and even spiritual aspects of our lives. It demands attention and action from each of us, regardless of our position in society. While the solutions may not be easy or quick, the conversation needs to continue — for the sake of the American Dream and the well-being of our neighbors.

Source: https://www.wsj.com/real-estate/americas-biggest-landlords-cant-find-houses-to-buy-either-ea893213?mod=hp_lead_pos1

https://www.youtube.com/watch?v=CHkoCIRPiOQ

Dozens of Nations to Sign U.N. Ocean Treat, but Will the Waves of Change Really Roll In?

Ah, the ocean! That vast, beautiful expanse of water covers about 70% of the Earth's surface and produces at least half of the world’s oxygen. It's a world unto itself, a mysterious realm of underwater wonders—and underwater woes. From the coral reefs to the wide-open seas, our oceans are increasingly under threat.

A Sea of Hope

On Wednesday, the annual United Nations General Assembly is set to become a signing frenzy. At least 60 countries are expected to ink an agreement on a new U.N. treaty designed to protect the world's oceans. Agreed upon last March and formally adopted by the United Nations in June, the treaty focuses on conserving biodiversity and aims for the target "30 by 30." That’s right—protecting 30% of the Earth’s land and sea by 2030. It's an ambitious plan that advocates argue is crucial for reversing the damage done by overfishing and other environmental hazards.

Symbolic Gestures, Substantial Measures?

Mads Christensen, the interim executive director of Greenpeace International, has described the event as a "powerful signal." Yet, he also points out that it's a "purely symbolic moment." Ratification on a national level is the real hurdle to jump. Signing is easy; implementing is hard. As Christians, we often face the same dilemma—knowing what’s right is one thing; doing what's right is another.

Funding and Implementation

If you thought signing was the end of it, think again. The International Union for the Conservation of Nature estimates a cool $500 million will be needed just to kickstart the treaty. An additional special fund could require another $100 million annually.

Clock’s Ticking, Ocean’s Fading

According to Jessica Battle, an ocean expert with the Worldwide Fund for Nature, the oceans are not in the business of waiting. There’s a deadline to meet if the "30 by 30" target is to be hit, and that deadline is 2025. Given that threats to the ocean environment have been escalating—thanks to overfishing, rising temperatures, and even the potential for ocean-bed mining and geoengineering—it seems like there's no time to lose.

Reflection

The Bible reminds us that the Earth is the Lord’s and everything in it. Taking care of this beautiful planet, which includes its oceans, is not just a global responsibility; it's a divine mandate. In the book of Genesis, God gave humanity dominion over the fish of the sea and every living thing that moves on the Earth (Genesis 1:28). That dominion wasn’t a blank check for exploitation but rather a call to stewardship.

Christians should cheer for endeavors like the U.N. Ocean Treaty because it aligns with our core belief in stewardship. It's not just about saving the whales or the coral reefs; it's about respecting and preserving God’s creation. A balanced approach is key—conservation should not come at the expense of human needs, but human activities should not decimate the planet either.

So as the ink dries on these treaties, let's pray they lead to substantive action.

Source: https://www.reuters.com/business/environment/dozens-nations-sign-un-ocean-treaty-implementation-still-awaits-2023-09-20/

Disney’s $60 Billion Gamble

Ah, the magic of Disney. Who can resist the charming call of a singing teacup or the allure of flying on a magical carpet ride? But even for Disney, known for its fantasy and magic, things haven't always been, well, magical. Particularly when it comes to its theme parks and cruise lines—those meccas of the modern consumerist fairy tale.

But don't shed a tear for the Mouse House just yet. Disney recently announced plans to nearly double its investment in its parks division, amping up the numbers to roughly $60 billion over the next 10 years. That's right—$60 billion with a 'B,' folks. It’s as if Disney found Aladdin’s genie lamp and wished for more zeroes on their investment checks.

A Bright Spot in a Changing Landscape

The investment comes as Disney navigates its way through the labyrinth of modern media, attempting to balance traditional television networks, streaming services, and the potential lawsuits against Florida's very own Governor Ron DeSantis.

The parks, experiences, and products division have been something of a twinkling star in the otherwise cloudy Disney sky. While the domestic parks are looking a little less like "happiest place on Earth" due to slowed attendance, Disney's international parks are like Elsa from Frozen—they're letting it go to the tune of a 13% revenue increase, reaching $8.3 billion.

History Repeats, and So Do Park Upgrades

After Bob Iger's return as CEO, Disney has worked to address rising prices and longer wait times at its parks. Anyone who’s had to wait two hours for a three-minute thrill ride will appreciate this. After all, it’s not every day you get to pay $300 to stand in a line that resembles the length of a Tolkien novel.

Lawsuits and Political Drama: Oh My!

Let's not forget the elephant—or should I say Dumbo—in the room: Disney’s legal tiffs with Governor Ron DeSantis. The situation is practically a soap opera at this point. At the heart of the issue? A controversial Florida bill limiting classroom discussions about sexual orientation and gender identity, among other grievances.

Profitable Dreams

Disney parks expect to generate about $10 billion in profit this year, which is a rather princely sum. That's almost five times their profit a decade ago. Even if their other businesses like Disney+ are wading through the swampy terrain of uncertainty, the parks seem like the hero Disney didn’t know it needed.

A Look Ahead

What’s next for Disney? Well, more intellectual property, of course! Disney plans to bring new worlds like Wakanda to life because why create new stories when you can just repackage old ones, right? With CEO Bob Iger stating that the parks will be among the top three value-driving businesses over the next five years, it seems Disney's fairy godmother has waved her wand for good fortune—or at least good quarterly reports.

Reflection

It's hard not to see the allure of Disney—a place often associated with magic, dreams, and, yes, consumerism. But the underlying politics and controversy remind us that even in seemingly magical realms, there are challenges to face that can't be sung away by a charming prince or solved with a wave of a fairy wand.

While it's okay to get lost in the magic, Christians should be vigilant about not only the entertainment they consume but also the corporations they support. After all, the journey towards being a responsible Christian doesn't always have to be a 'whole new world' but can be a series of mindful steps in our daily lives.

Source: https://www.cnbc.com/2023/09/19/disney-plans-to-speed-up-and-expand-investment-in-parks-and-cruises-business.html?utm_campaign=mb&utm_medium=newsletter&utm_source=morning_brew

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