March 17, 2016

Go to any social gathering in Brooklyn, the San Francisco area, Seattle, Washington, D.C., Austin, or any number of other cities favored by young professionals, and the topic invariably turns to the skyrocketing cost of housing. Typically, you are supposed to spend about 30 percent of your income on housing, financial experts say, but the typical solo renter between 22 and 34, paying the median U.S. apartment rent, spends 53 percent of income — and in San Francisco, where the median rent is about $4,500 a month, that slice of income jumps to 78 percent, according to Zillow. Venture capitalists have one solution, The Wall Street Journal reports: "adult dorms."

The idea is that young people moving to new cities will want a community they can simply move into, rather than scouring Craigslist for an apartment and/or roommate, and they will be willing to pay for a tiny room with shared kitchen and living spaces. That idea has attracted some pretty big money — WeWork Cos., which offers shared office space, recently secured more than $1.4 billion to kick off WeLive co-housing projects in lower Manhattan and suburban D.C. There is "insanely high consumer demand for reimagining how millennials live in urban environments," says Jason Stoffer, a partner at a firm, Maven, backing co-living startup Common.

"The risk," say Eliot Brown and Laura Kusisto at The Journal, "is that young workers will balk at paying the high prices the startups are counting on — upward of $1,800 a bed a month in some cases — to live in what is essentially an upscale college dorm or a retirement home for the young." Still, price aside, it isn't exactly a new idea. A century ago, new residents of big cities lived in boardinghouses or residential hotels. "Widening income gaps and the resurgence of the city create the market conditions for the rebirth of rooming houses," says Alan Durning at nonprofit think tank the Sightline Institute. "The way people have afforded to live in central cities is to have less space." Read more at The Wall Street Journal. Peter Weber

3:13 p.m. ET

For the first time in seven years, the Republicans beat the Democrats in the Congressional Baseball Game, which was held last week at Nationals Park. It was a hard-won victory, but, uh, not a pretty one:

Warning: Don't watch if you get secondhand embarrassment. Jeva Lange

2:39 p.m. ET
Vittorio Zunino Celotto/Getty Images

Hillary Clinton isn't the only woman cracking glass ceilings lately. Actress Scarlett Johansson just made Hollywood history by becoming the "highest grossing actress of all time," and possibly the first woman to crack Box Office Mojo's top-ten list of the top-grossing actors, The Cut reports.

At number 10 on the list, with a total gross box office revenue of $3.3 billion, Johansson, 31, sits behind the likes of Harrison Ford, Samuel L. Jackson, and Morgan Freeman. However, Ford, who ranks first on the list, has a gross revenue nearly $1.5 billion more than Johansson's, at nearly $4.9 billion.

The next woman after Johansson on the list is Cameron Diaz at number 19. All in all, only nine women appear in the top 50. Becca Stanek

2:03 p.m. ET
Christopher Furlong/Getty Images

As Donald Trump fends off accusations that he knowingly scammed Trump University students, The New York Times has uncovered a second apparent scam involving his seminar business, Trump Institute.

Opened in 2005, the Trump Institute charged people up to $2,000 to learn Trump's "wealth-creating secrets and strategies." While Trump didn't own the business, the institute allegedly lied about the extent of Trump's involvement despite Trump vowing that he was "teaching what I've learned." The program was actually run by a couple who had an extensive record of committing fraud, and the manual used to teach the students was largely plagiarized:

Unbeknownst to customers at the time, though, even the printed materials handed out to seminar attendees were based on a lie. The Trump Institute copyrighted its publication, each page emblazoned with "Billionaire's Road Map to Success," and it distributed the materials to those who attended the seminars.

Yet much of the handbook's contents were lifted without attribution from an obscure how-to guide published by Success magazine in 1995 called "Real Estate Mastery System."

At least 20 pages of the Trump Institute book were copied entirely or in large part from "Real Estate Mastery System." Even some of its hypothetical scenarios — "Seller A is asking $80,000 for a single-payer residence" — were repeated verbatim. [The New York Times]

Unsurprisingly, the Trump Institute eventually earned an F from the Better Business Bureau. "What criminals they are," one student said afterward. "They wanted to steal my money." Read the entire investigation at The New York Times. Jeva Lange

1:50 p.m. ET
Ron Sachs-Pool via CNP

President Obama will finally hit the campaign trail with Hillary Clinton next Tuesday in Charlotte, North Carolina. The pair will appear in the battleground state for a discussion about "building on the progress we've made," the Clinton campaign said.

Obama was initially going to make his campaign debut two weeks ago in Wisconsin, but that appearance was canceled due to the mass shooting in Orlando. White House Press Secretary Josh Earnest said "busy schedules" prevented the pair from syncing up any earlier.

Obama is expected to be a powerful surrogate for Clinton, though he did lose the contested state of North Carolina in the 2012 presidential election. In his endorsement of Clinton earlier this month, Obama said he's unsure if "there's ever been someone so qualified [as Clinton] to hold this office." Becca Stanek

1:37 p.m. ET
Dimitrios Kambouris/Getty Images

Fresh off the hullabaloo over his latest music video, Kanye West has another big announcement to make: More Yeezy gear is coming your way.

After a contentious relationship with Nike, West teamed up with Adidas in late 2013 and released his Yeezy 750 Boost and Yeezy 350 Boost sneakers in 2015. The kicks became an immediate sensation — so popular, in fact, that the 750 model recently sold out in just 13 seconds. Inspired by that success, Adidas and West announced Wednesday that they will extend their partnership to include apparel and accessories in addition to shoes.

In a press release Wednesday, Adidas called West a "creative pioneer" and said the "unprecedented new alliance [between the rapper and the company] makes history as the most significant partnership ever created between a non-athlete and an athletic brand. It will redefine the future." The collaborative effort will field a dedicated team at Adidas to lead the Yeezy project.

Adidas and West have entered a "long-term" partnership, the release states — so there’s still time for you to somehow worm your way into the Kardashian-Jenner clique and snag yourself some Yeezy swag. Kimberly Alters

1:31 p.m. ET

It didn't take a mathematician to figure out that Wednesday's Wimbledon match between Roger Federer (arguably the best tennis player of all time) and Marcus Willis (who?) was going to be a blow-out. But Willis, ranked No. 772 in the world, embraced his 250-1 odds with a delightful sense of humor:

Still, the gap between the players was so glaring that ESPN actually ran a graphic comparing how many houses each player owns (Federer has three and Willis, well, he lives with his parents, so he's got zero). Still, Willis, who had all but given up his professional career earlier this year, was all smiles over the chance to play the tennis legend who he has never even spoken to in his life.

It's hard not to be totally charmed by Willis' attitude. "I'm not sure [Federer] can play on grass. That's good," he joked earlier this week. The Snickers bar-devouring athlete added, "No, it's an amazing dream come true. I get to play on a stadium court. This is what I dreamed of when I was younger."

Second set: Federer* 6-0, 6-3 Willis But Federer wastes little time in wrapping up the second set. Willis is beaming away here — he's enjoyed every one of the 52 minutes this match has lasted. [The Guardian]

While Federer finally won 6-0, 6-3, 6-4, if there was a Wimbledon for good sports, the world champion would be obvious. Jeva Lange

12:53 p.m. ET

Despite the nail-biting polls, statistician Nate Silver predicted Wednesday that Hillary Clinton has a whopping 79 percent chance of winning a general election against Donald Trump. Silver correctly predicted the results of 49 out of 50 states in 2008 and correctly guessed the results of every single state in 2012. Still, Silver predicted that Trump had a mere 2 percent chance of winning the GOP nomination last August.

But Silver asserted himself on Good Morning America, claiming that his 2 percent estimate wasn't based on looking at the polls. "One big lesson of [Trump's] campaign is, don't try and out-think the polls and try and out-think the American public," Silver warned. He added that states like Arizona, Georgia, Missouri, and North Carolina — all of which are usually red — could be toss-ups in this "crazy year."

"Here's how to think about it," Silver said. "We're kind of at halftime of the election right now, and [Clinton's] taking a seven-point, maybe a 10-point lead into halftime. There's a lot of football left to be played, but she's ahead in almost every poll, every swing state, every national poll." Jeva Lange

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