Crypto News: Where a car costs as much as an apartment

Having a car is getting more expensive in Singapore, where government restrictions on sales have made auto ownership a luxury. Buyers must bid for a limited number of ownership permits, the cost of which recently hit record highs. This has helped push car prices up to five times their wholesale prices; a new Toyota Camry can now cost as much as an apartment.

But the high cost of driving in Singapore is beginning to look less like a global outlier; in some US metros, monthly car payments can cost more than rent. Some experts say that cities trying to build more sustainable infrastructure and reduce car ownership can look to the city-state's model, which is balanced by an efficient urban public transit system. Others warn, though, that higher vehicle costs come with risks, Bloomberg's Nurin Sofia and Xiao Zibang report. Today on CityLab: Singapore's Sky-High Car Prices Are Warning for Global Cities

— Angel Adegbesan

Here's Where Car Payments Cost More Than Rent in the US

A record share of new car shoppers are being saddled with monthly payments topping $1,000.

Intel Seeks Salvation in German Town of Boom and Bust

The city of Magdeburg has reinvented itself before. Now it's at the center of an ambitious attempt to lure chipmakers back to Europe.

Singapore's Tiny Second Airport Eyes Future as a Flying Taxi Hub

The future of aviation could be taking off as soon as 2024.

From industrial waste to floating wetlands, how Chicago's Wild Mile is reinventing the urban river (Fast Company)
The water wars come to the suburbs (The New Yorker)
Buffalo's 'other story' is told in redevelopment and growth (The New York Times)
Shanghai's newest tool for preserving its history: coffee shops (SixthTone)
How Baghdad's backyards are bringing back Iraqi dates (Atlas Obscura)