Tag #Housing Affordability

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dw.com

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May 15, 01:11

Climate Change Exacerbates Global Housing Crisis

Climate change-induced disasters like wildfires and hurricanes are drastically increasing housing costs globally, displacing low-income residents and fueling climate gentrification, as seen in California, Miami, and post-Katrina New Orleans.

Climate Change Exacerbates Global Housing Crisis

Climate change-induced disasters like wildfires and hurricanes are drastically increasing housing costs globally, displacing low-income residents and fueling climate gentrification, as seen in California, Miami, and post-Katrina New Orleans.

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How does the climate crisis directly impact global housing affordability, and what are the most immediate consequences?

The climate crisis is exacerbating the global housing crisis, particularly in cities affected by extreme weather events. In California, post-wildfire rent increases are capped, yet housing costs remain unaffordable globally, impacting both renters and owners.

theguardian.com

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May 11, 19:11

Australia's Rental Market: Advertised vs. Actual Rent Increases

While advertised Australian rents increased by over 15% in 2024, the Australian Bureau of Statistics reports a more moderate 19% increase over five years, highlighting a discrepancy between advertised and actual rental costs and challenging the narrative of a widespread rental crisis.

Australia's Rental Market: Advertised vs. Actual Rent Increases

While advertised Australian rents increased by over 15% in 2024, the Australian Bureau of Statistics reports a more moderate 19% increase over five years, highlighting a discrepancy between advertised and actual rental costs and challenging the narrative of a widespread rental crisis.

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What is the actual extent of Australia's rental crisis, considering the discrepancy between advertised and actual rent increases?

Advertised rents in Australia surged over 15% in 2024, the fastest annual increase on record, according to CoreLogic. However, data from the Australian Bureau of Statistics (ABS) shows a more moderate 19% increase over five years, impacting overall inflation minimally. This discrepancy highlights the difference between advertised rents (reflecting market volatility) and actual rents paid by most households.

kathimerini.gr

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May 7, 01:13

Greek Housing Shortage: Aging Stock and Mismatched Demand

Greece's housing market faces a shortage of suitable housing due to an aging stock and mismatched supply and demand; over 55% of housing was built before 1980, and 70% has low energy efficiency, while demand centers on smaller apartments in urban areas. Upgrading existing buildings is crucial for fu...

Greek Housing Shortage: Aging Stock and Mismatched Demand

Greece's housing market faces a shortage of suitable housing due to an aging stock and mismatched supply and demand; over 55% of housing was built before 1980, and 70% has low energy efficiency, while demand centers on smaller apartments in urban areas. Upgrading existing buildings is crucial for fu...

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Sustainable Cities and Communities

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What is the primary cause of the Greek housing shortage, and what are its immediate consequences?

The Greek housing market faces a mismatch between supply and demand. Over 55% of housing stock was built before 1980, and 70% is in the three lowest energy efficiency categories. Demand centers on smaller apartments in central urban areas, creating a shortage of suitable housing.

smh.com.au

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May 6, 01:16

AMP Launches 10-Year Interest-Only Home Loan Amid Affordability Concerns

AMP launched a new 10-year interest-only home loan for pre-retirees and first-home buyers, despite warnings about the risks, particularly for owner-occupiers; Canstar modeling shows a \$600,000 mortgage could accrue nearly \$150,000 in extra interest over the life of the loan.

AMP Launches 10-Year Interest-Only Home Loan Amid Affordability Concerns

AMP launched a new 10-year interest-only home loan for pre-retirees and first-home buyers, despite warnings about the risks, particularly for owner-occupiers; Canstar modeling shows a \$600,000 mortgage could accrue nearly \$150,000 in extra interest over the life of the loan.

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How do the risks associated with interest-only loans for owner-occupiers differ from those for investors?

The new AMP loan reflects a broader trend: while interest-only loans were less popular recently due to tighter lending criteria and higher interest rates, this product targets specific demographics facing affordability challenges, particularly pre-retirees struggling with rising living costs. This contrasts with government policies promoting homeownership, creating tension between regulatory and political aims.

theglobeandmail.com

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May 1, 19:18

Alberta Rental Construction Boom Outpaces Major Canadian Cities

In the first quarter of 2025, Alberta experienced a record number of purpose-built rental units breaking ground, exceeding Toronto and Vancouver, fueled by affordable land, government incentives, and sustained housing demand; however, bureaucratic hurdles hinder inner-city development.

Alberta Rental Construction Boom Outpaces Major Canadian Cities

In the first quarter of 2025, Alberta experienced a record number of purpose-built rental units breaking ground, exceeding Toronto and Vancouver, fueled by affordable land, government incentives, and sustained housing demand; however, bureaucratic hurdles hinder inner-city development.

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How does the CMHC's MLI Select program influence the viability of purpose-built rental projects in Alberta, and what role does land cost play in this dynamic?

The success of Alberta's rental construction boom is linked to several factors: favorable land prices, government incentives (MLI Select), and sustained demand despite softening rental rates. Calgary, with its median family income of $130,000 in 2022, presents a particularly attractive market for developers.

theguardian.com

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Apr 30, 19:21

Remote Nurse Highlights Critical Healthcare Shortages in Aboriginal Community

Ann-Marie Thomas, the sole full-time nurse in the remote Aboriginal community of Toomelah, NSW, faces daily challenges including a long commute, housing insecurity, and limited resources, while providing essential healthcare and social support to 250 people; her experiences highlight critical issues...

Remote Nurse Highlights Critical Healthcare Shortages in Aboriginal Community

Ann-Marie Thomas, the sole full-time nurse in the remote Aboriginal community of Toomelah, NSW, faces daily challenges including a long commute, housing insecurity, and limited resources, while providing essential healthcare and social support to 250 people; her experiences highlight critical issues...

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What are the immediate impacts of inadequate support for healthcare professionals in remote Aboriginal communities, as exemplified by Ann-Marie Thomas's experiences?

Ann-Marie Thomas, a nurse in Toomelah, NSW, provides essential healthcare and social support to the town's 250 Aboriginal residents, often going above and beyond her nursing duties. She faces significant daily challenges, including a 60km commute and limited resources, yet remains deeply committed to her community. Her dedication highlights critical issues in remote healthcare access and support for healthcare workers.

smh.com.au

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May 14, 01:10

Australian House Building Costs Hit Record High

The average cost to build a new house in Australia reached \$504,109 in March 2024, a 6.5 percent increase year-on-year and a 52.6 percent increase since March 2019, due to labor shortages and high material costs, challenging the government's 1.2 million new homes target.

Australian House Building Costs Hit Record High

The average cost to build a new house in Australia reached \$504,109 in March 2024, a 6.5 percent increase year-on-year and a 52.6 percent increase since March 2019, due to labor shortages and high material costs, challenging the government's 1.2 million new homes target.

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What are the long-term implications of the current high construction costs on the Australian housing market and the broader economy?

The combination of high labor and material costs, coupled with a shortage of skilled tradespeople, creates a significant challenge to Australia's housing market. This will likely lead to continued increases in house prices, impacting affordability and potentially slowing down the construction industry's output, making it hard to meet the national housing target. The rising costs also put pressure on builders who cannot always pass these costs on to their clients.

theglobeandmail.com

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May 7, 01:13

Canadian Housing Market: A Tale of Two Markets

A February 2025 analysis of Canadian metropolitan areas reveals a stark affordability divide, with Southern Ontario and British Columbia significantly more expensive than the rest of the country due to factors like warmer climates, restrictive zoning, and strong demand.

Canadian Housing Market: A Tale of Two Markets

A February 2025 analysis of Canadian metropolitan areas reveals a stark affordability divide, with Southern Ontario and British Columbia significantly more expensive than the rest of the country due to factors like warmer climates, restrictive zoning, and strong demand.

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How do factors like population size and job availability relate to housing affordability across different Canadian cities?

The affordability divide stems from a combination of higher demand in areas with warmer climates, attracting newcomers and fueling population growth, coupled with restrictive zoning laws in regions like Ontario and British Columbia, limiting housing supply. This imbalance is highlighted by Vancouver's extreme ratio of 14.4, contrasted with more affordable cities like Quebec City (around 5).

smh.com.au

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May 6, 01:16

Perth's Housing Crisis: Even High-Income Earners Priced Out

Soaring Perth property prices since 2019 have priced out even high-income earners, with new data showing that single individuals in 17 professions couldn't save enough for a 20% deposit, and only three out of seventeen analyzed couples could, highlighting the urgent need for housing policy changes.

Perth's Housing Crisis: Even High-Income Earners Priced Out

Soaring Perth property prices since 2019 have priced out even high-income earners, with new data showing that single individuals in 17 professions couldn't save enough for a 20% deposit, and only three out of seventeen analyzed couples could, highlighting the urgent need for housing policy changes.

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How has the dramatic increase in Perth's median house prices since 2019 impacted the ability of high-income earners to afford homeownership?

Perth's housing market has become unaffordable even for high-income earners. Since 2019, median house prices have surged from \$486,000 to \$764,250, making it nearly impossible for single individuals across various professions, from childcare workers to surgeons, to save a 20% deposit. Even couples, with only three out of seventeen analyzed combinations able to save enough, face significant challenges.

smh.com.au

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May 1, 01:17

Marginal Rise in Australian Home Values Amidst Affordability Concerns

Australia's national home values increased by 0.3 percent in April, reaching a record high according to Cotality, despite affordability concerns and low consumer sentiment offsetting increased demand and low supply following February's Reserve Bank rate cut; Sydney and Melbourne experienced 0.2 perc...

Marginal Rise in Australian Home Values Amidst Affordability Concerns

Australia's national home values increased by 0.3 percent in April, reaching a record high according to Cotality, despite affordability concerns and low consumer sentiment offsetting increased demand and low supply following February's Reserve Bank rate cut; Sydney and Melbourne experienced 0.2 perc...

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What is the immediate impact of the recent marginal increase in Australian home values, considering the countervailing forces at play?

Australia's national home values rose 0.3 percent in April, reaching a record high, according to Cotality. However, this marginal increase reflects a balance between rising demand, low supply, and affordability concerns. Sydney and Melbourne saw 0.2 percent growth, while Brisbane, Perth, and Adelaide led in annual growth (7.8-10 percent).

theglobeandmail.com

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Apr 30, 19:20

Ontario Homeowners Face $45,000 Median Loss in 2024 Market Correction

Three years after the COVID-19 real estate boom, 25 percent of Ontario homes bought in 2022 and sold in 2024 experienced value losses, with a median loss of $45,000, highlighting a significant market correction and growing wealth disparity. Areas outside the Greater Toronto Area saw the most signifi...

Ontario Homeowners Face $45,000 Median Loss in 2024 Market Correction

Three years after the COVID-19 real estate boom, 25 percent of Ontario homes bought in 2022 and sold in 2024 experienced value losses, with a median loss of $45,000, highlighting a significant market correction and growing wealth disparity. Areas outside the Greater Toronto Area saw the most signifi...

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How did the percentage of loss-making property sales change from 2022 to 2024, and what factors contributed to this change?

The surge in properties sold at a loss began in 2022 (9.5%) and accelerated in 2023 (17.5%), impacting even those purchased in 2021 (13% loss in 2024). This reflects the rapid price increase and subsequent downturn in the housing market, disproportionately affecting those who bought at the peak. Areas outside the Greater Toronto Area (GTA), such as Dufferin County, experienced a higher percentage of losses than the provincial average.

aljazeera.com

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Apr 25, 22:14

Canada's Inflation Crisis Impacts Housing, Groceries, and Federal Election

Canada's 2022 inflation rate reached 8.1 percent, its highest since 1983, causing a severe affordability crisis impacting housing and groceries, forcing many Canadians to relocate or cut back on essential spending, significantly influencing the upcoming federal election.

Canada's Inflation Crisis Impacts Housing, Groceries, and Federal Election

Canada's 2022 inflation rate reached 8.1 percent, its highest since 1983, causing a severe affordability crisis impacting housing and groceries, forcing many Canadians to relocate or cut back on essential spending, significantly influencing the upcoming federal election.

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How did the Bank of Canada's interest rate policies affect the Canadian housing market and the overall affordability crisis?

Rising interest rates, peaking at 5 percent in 2023 before dropping to 2.75 percent in mid-2024, exacerbated Canada's pre-existing housing affordability issues. Rent increased almost 18 percent nationwide since March 2020, affecting both renters and homeowners. This, coupled with high inflation, significantly impacted Canadians' cost of living.

Showing 61 to 72 of 155 results