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A daily look at the most significant and interesting stories affecting Indianapolis.

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City tries to move needle on downtown recovery

The city is trying to move the needle on downtown's recovery with denser office use.

News

Indiana libraries have seen more than a dozen book challenges this year

John Green's "The Fault in Our Stars" isn't the only book challenged this year.

Swiftonomics is coming to Indianapolis

Swift's three concerts will combine for one of the biggest events in Indianapolis history.

Why fathers should take parental leave

Mothers are doubly burdened when fathers can't, or don't, take time off.

Business

Indianapolis can't build enough offices

Offices that feel like home, but better, are convincing workers to return.

More than a decade after the <a class="gtmContentClick" data-vars-link-text="luxury apartment boom" data-vars-click-url="https://www.axios.com/local/indianapolis/2023/05/08/indianapolis-apartments-pools-dog-parks-fitness-centers" data-vars-content-id="0e6b0753-50b3-4244-b61c-0de45a0eb428" data-vars-headline="Indianapolis can&#x27;t build enough offices" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/local/indianapolis/2023/05/08/indianapolis-apartments-pools-dog-parks-fitness-centers" target="_self">luxury apartment boom</a> made renting cool, developers are applying the same script to offices.Why it matters: The companies most desperate to resume in-person work are competing to lease limited space in areas where employees want to be.

A blue sign points the way to businesses inside the Stutz building in downtown Indianapolis.

Indianapolis homebuyers could wait decades to break even

If you're going to buy a house, be prepared to stay long-term — or lose money.

If you&#x27;re going to buy a house, be prepared to stay long-term — or lose money.State of play: The double whammy of high interest rates and <a class="gtmContentClick" data-vars-link-text="record-high home prices" data-vars-click-url="https://www.axios.com/2023/08/17/housing-prices-affordability-rise-fall-2023-goldman-sachs" data-vars-content-id="92ae53a6-80cb-4dc9-bb41-097e34c5ea81" data-vars-headline="Indianapolis homebuyers could wait decades to break even" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/2023/08/17/housing-prices-affordability-rise-fall-2023-goldman-sachs" target="_self">record-high home prices</a> means it could take decades to break even on a purchase made today.

RH gallery opening Friday at DeHaan estate

A restaurant and wine bar will overlook a 35-acre private lake.

If you are curious about how the other half* lives, Friday is your day.<ul><li>*By half we really mean the top, like, 1%.</li></ul>Driving the news: The 151-acre RH (formerly Restoration Hardware) gallery at the estate of late philanthropist Christel DeHaan opens at 11am Friday.

Indy's "under contract" home sales keep falling through

About 18% of pending home sales collapsed in September.

Putting your house under contract doesn&#x27;t carry the same sense of inevitability that it used to.Driving the news: About 18% of Indianapolis-area pending home sales fell through in September, as mortgage rates kept inching up, according to Redfin data.

Indianapolis' pandemic warehouse boom fades

Warehouses are moving on a track opposite track to offices.

Warehouse leasing is falling fast after a <a class="gtmContentClick" data-vars-link-text="pandemic-era e-commerce boom" data-vars-click-url="https://www.axios.com/2022/12/12/pandemic-commerce-boom-internet" data-vars-content-id="9f0decda-3ccf-49d5-bb08-e995341ddb47" data-vars-headline="Indianapolis&#x27; pandemic warehouse boom fades" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/2022/12/12/pandemic-commerce-boom-internet" target="_self">pandemic-era e-commerce boom</a> filled the Central Indiana landscape with millions of square feet worth of massive industrial buildings.Why it matters: A three-year flood of industrial deals by the likes of <a class="gtmContentClick" data-vars-link-text="Amazon" data-vars-click-url="https://www.indystar.com/story/money/2022/01/12/new-amazon-warehouse-franklin-indiana/9189343002/" data-vars-content-id="9f0decda-3ccf-49d5-bb08-e995341ddb47" data-vars-headline="Indianapolis&#x27; pandemic warehouse boom fades" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.indystar.com/story/money/2022/01/12/new-amazon-warehouse-franklin-indiana/9189343002/" target="_blank">Amazon</a> and other major players brought thousands of jobs and speedier-than-ever package delivery to the region.

Walmart boxes roll down a conveyor belt in a warehouse;

Indy Eleven stadium builds momentum

Indianapolis is moving to create a new special district for the Indy Eleven stadium.

Indy Eleven&#x27;s proposed 20,000-seat soccer stadium is moving ahead.Driving the news: The city&#x27;s Metropolitan Development Commission next week will consider creating a special district, called a professional sports development area, which would help pay for Keystone Group&#x27;s Indy Eleven-anchored mixed-use project along the White River.

Rendering showing a new Indy Eleven stadium with the Indianapolis skyline in the background.

Investors drive all-cash Indianapolis home sales

Pandemic-era market forces have changed homebuying, perhaps for the long run.

If you&#x27;re shopping for a mortgage, you&#x27;re already losing.Driving the news: About 40% of Indianapolis-area home sales were all-cash deals last year, up from about 32% in 2019, according to ATTOM, a real estate data firm.

Illustration of a repeating pattern of houses made out of hundred dollar bills. 

Why Indianapolis millennials can't afford to buy homes

Too many buyers are chasing too few starter homes.

Real Estate

It&#x27;s getting harder to buy your first home in Indianapolis.Why it matters: While Indianapolis&#x27; relative housing affordability makes it a <a class="gtmContentClick" data-vars-link-text="hot market for young people" data-vars-click-url="https://www.axios.com/local/indianapolis/2023/06/27/indianapolis-housing-market-gen-z" data-vars-content-id="a12c8c1b-2150-4d47-9e44-98451742268b" data-vars-headline="Why Indianapolis millennials can&#x27;t afford to buy homes" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/local/indianapolis/2023/06/27/indianapolis-housing-market-gen-z" target="_self">hot market for young people</a>, those who haven&#x27;t bought yet face <a class="gtmContentClick" data-vars-link-text="higher mortgage rates" data-vars-click-url="https://www.axios.com/local/indianapolis/2023/07/18/housing-supply-indiana-mortgage-rates" data-vars-content-id="a12c8c1b-2150-4d47-9e44-98451742268b" data-vars-headline="Why Indianapolis millennials can&#x27;t afford to buy homes" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/local/indianapolis/2023/07/18/housing-supply-indiana-mortgage-rates" target="_self">higher mortgage rates</a> and low supply.

Illustration of a real estate for sale sign with the word NOPE on it.

Most Indy Gen Zers are spending 30% or more on rent

Spending more than 30% of income on rent is becoming "the new normal."

Nearly 60% of Indy&#x27;s youngest renters spend at least 30% of their income on rent, according to the latest U.S. census data.Why it matters: <a class="gtmContentClick" data-vars-link-text="Steep prices" data-vars-click-url="https://www.axios.com/2023/09/18/housing-market-2023-mortgage-fall-predictions" data-vars-content-id="a7fd8c78-c507-40f1-9850-435ada8b5152" data-vars-headline="Most Indy Gen Zers are spending 30% or more on rent" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/2023/09/18/housing-market-2023-mortgage-fall-predictions" target="_self">Steep prices</a> and <a class="gtmContentClick" data-vars-link-text="high mortgage rates" data-vars-click-url="https://www.axios.com/2023/08/22/mortgage-rates-current" data-vars-content-id="a7fd8c78-c507-40f1-9850-435ada8b5152" data-vars-headline="Most Indy Gen Zers are spending 30% or more on rent" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/2023/08/22/mortgage-rates-current" target="_self">high mortgage rates</a> pose seemingly insurmountable hurdles to homeownership — and renting isn&#x27;t necessarily an <a class="gtmContentClick" data-vars-link-text="affordable alternative" data-vars-click-url="https://www.axios.com/2023/06/16/rent-growth-crisis" data-vars-content-id="a7fd8c78-c507-40f1-9850-435ada8b5152" data-vars-headline="Most Indy Gen Zers are spending 30% or more on rent" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/2023/06/16/rent-growth-crisis" target="_self">affordable alternative</a>.

More than ever, Hamilton County is for the wealthy

Hamilton County&#x27;s status as a sanctuary for the wealthy is accelerating at an astonishing rate.By the numbers: Million-dollar home sales are soaring, becoming more than twice as common as sales closing at $200,000 or less.

Real Estate 🏠