Today, we’ll look at a housing squeeze on the East Coast and a growing wildfire threat in the West. Plus, the Trump administration is ramping up pressure on Iran and escalating trade tensions with Canada.

- Alexandra Banner, lead writer

Let’s Begin

How, exactly, are people affording NYC?

New York has never been known for bargain living, but some residents say affording the city these days requires a little extra creativity.

The median asking rent for a one-bedroom unit in NYC hit $4,200 in July, up 30% from July 2019; in Manhattan, the most expensive borough, it reached $4,995. Faced with those prices, several New Yorkers say they are moving in with retirees, nuns and other unlikely roommates, among other cost-saving measures.

CNN found that some local nonprofit programs are helping renters find below-market rooms with one key rule: their roommate must be at least 60. One woman also said she snagged a $1,500-a-month room in Manhattan’s Chelsea neighborhood with dinner included — living alongside nuns in a convent (with a 10 p.m. curfew and no men allowed). And who are we to judge? For those who’ve found a pricey city that feels like home, a few unconventional compromises may well be worth it.

+ Read more: How New Yorkers are getting creative to afford the city

+ Video: When did a burrito become $20? Here’s what it says about the affordability crisis

Weather Watch

Human-caused wildfire threatens Reno

The Hawk Fire near Reno, Nevada, on Sunday. (Tim Walton/AP)

A human-caused wildfire near Reno, Nevada, has scorched more than 15,000 acres since Saturday, sending flames racing toward neighborhoods and prompting evacuation warnings for about 90,000 people. The Hawk Fire remained 0% contained as of Sunday night, with dry conditions and strengthening winds expected to complicate firefighting efforts today. Nevada Gov. Joe Lombardo has declared a state of emergency in Washoe County, which includes Reno and parts of Lake Tahoe, and activated the state’s National Guard. At least six people have been injured, including three civilians and three first responders, officials said.

+ Read more: Latest on the Hawk Fire

+ Video: Fast-moving fire is 0% contained

+ More severe weather: Tropical Depression Moke hits Hawaii with heavy rain just a week after Hurricane Lala

Middle East

US to unveil ‘economic D-Day’ sanctions on Iran

Treasury Secretary Scott Bessent is expected to provide details at a news conference today after warning in an op-ed that an “economic D-Day is coming for Iran,” echoing President Donald Trump’s earlier threats. Bessent has promised “the toughest sanctions in history” as talks to end the six-month war remain deadlocked and Iran continues disrupting shipping through the crucial Strait of Hormuz. But even with fresh economic pressure, experts say that unless the Trump administration uncovers fresh methods to choke off Tehran’s revenue streams, Washington will once again face a regime long practiced in evading sanctions and finding new ways to generate income.

+ Live updates: Bessent set to announce ‘economic D-Day’ sanctions

+ Also: Iranian women defy efforts by hardliners to enforce wearing of hijab

Trade Tensions

Fighting with Canada comes at a price

The US and Canada are barreling toward a deeper trade war after last-ditch talks collapsed Friday. President Trump imposed 50% tariffs on roughly $20 billion worth of Canadian goods on Saturday, and Canada is now preparing to retaliate with “dollar-for-dollar” tariffs starting September 8. That raises the prospect of further escalation and higher prices for US consumers. With the Iran war already driving up energy and transportation costs, businesses may have less room to absorb another hit. Some goods that could get more expensive include paper products, plywood and dairy staples like milk, cheese and butter.

+ Read more: US-Canada trade war could make these everyday items pricier

+ Video: Canadian PM Mark Carney vows US will ‘never break us’

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Before You Go

Billion-dollar sports deals. And ‘The Beast’ takes a lap.

Want to buy a sports team? Better hurry … and bring billions

Sports is one of the few industries AI hasn’t disrupted — at least for now. That’s fueling a surge in massive franchise sales.

A moonshot on hold

China has postponed the launch of an unprecedented mission to hunt for water on the moon amid a growing space race.

Video: ‘No teens allowed’

Why are new restrictions forcing teens out of public spaces? CNN’s Scottie Andrew explains here.

Maternal mental health is making headlines

Recent conversations about maternal mental health have sparked a moment of reckoning with a system that experts say has long neglected mothers in need.

Video: Trump takes ‘The Beast’ for an IndyCar lap

President Trump and first lady Melania Trump joined thousands of spectators Sunday as IndyCar drivers raced through Washington, DC. Trump also took “The Beast” for a lap around the course.

Trump kicks off IndyCar race in 'The Beast'

01:05

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19 things to cut when money gets tight (most people ignore #11)

Your money is getting tight. Prices are going up. And figuring out what to cut back on can feel overwhelming. Here's what you can do: read our list of money-saving strategies below, and start with one or two today. Even doing just one can help you breathe a little easier.

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