Joel Kotkin is a professor and presidential fellow in urban futures at Chapman University. He talks to Larry Elder about his article called “California’s Vanished Dream, by the Numbers,” which discusses what he calls California’s existential crisis, with “economic immobility and inequality, crushing housing and energy costs, and a failing education system.” He says the…
Ontario Election Leaders’ Debate Focuses on Housing and Transportation in the North
Ontario’s party leaders faced off for the first time in a debate in North Bay, Ontario, on May 10. The debate focused on issues in Northern Ontario, with each leader presenting how their respective plans would benefit one of the regions whose economy had been hit particularly hard during the COVID-19 pandemic. In his opening statement,…
In Ontario Election Debate, Leaders Focus on Housing and Transportation in the North
Ontario’s party leaders faced off for the first time in a debate in North Bay, Ontario, on May 10. The debate focused on issues in Northern Ontario, with each leader presenting how their respective plans would benefit one of the regions whose economy had been hit particularly hard during the COVID-19 pandemic. In his opening statement,…
Canada’s Labour Shortage Has Reached the Point of a Perfect Storm
Commentary Economic recovery from the pandemic is going to be a convoluted path with years of ups and downs. While inflation is making it difficult for an increasing number of Canadians to pay the bills, we are also ironically in the midst of a labour shortage. As employers increase employee compensation to draw new workers,…
Housing Beat: 30-year Mortgage at 13-year High; Major Lenders in LinkedIn Spat
The housing and mortgage world witnessed rising rates, an upswing in application levels, and public feud between two major lenders. On The Mortgage Front Freddie Mac reported the 30-year fixed-rate mortgage averaged 5.27 percent, up from last week when it averaged 5.10 percent. The 15-year fixed-rate mortgage averaged 4.52 percent, up from last week when it…
US Treasury’s Adeyemo Urges States, Local Governments to Use COVID Aid for Housing
WASHINGTON—Deputy U.S. Treasury Secretary Wally Adeyemo on Monday called on state, local and tribal governments to use more of their shares of a $350 billion COVID-19 relief fund to address a severe shortage of affordable housing. Adeyemo was pressing his case during a visit to Los Angeles to highlight California officials’ plans to use $7.4…
Australian Labor Party’s Campaign Focus on Housing Affordability
An impending interest rate rise and a new opposition shared equity plan to get thousands of people into homes has intensified the spotlight on property affordability. Federal Labor says the cost of buying a home will be slashed by up to 40 percent for about 10,000 low to middle income earners a year if it…
Housing: Poised for Trouble
Commentary For the moment, residential real estate seems to vibrate between powerful positive and negative forces. Their interplay will likely produce an uneven picture for the next few months. But in the fullness of time—say, late this year and certainly by 2023—the negative influences will predominate. The sector will suffer a correction, nothing like 2008…
Rising Mortgage Rates Prompt Downward Revision to Home Price Forecasts
A sharp run-up in mortgage rates has prompted speculation about possible cooling in house prices in the red-hot U.S. market, with real estate research firm Zillow lowering its home price forecast for 2023 by 1.6 percentage points. Home prices have been on a tear amid broader inflationary pressures in the U.S. economy, with the most…
Home Sales Decline in March While Prices Continue to Rise
The latest report from Redfin attests to one of the most competitive housing markets on record: as housing prices rise at the fastest rate in years, prospective buyers have become less likely to invest in real estate, resulting in a diminishing rate of home sales in the past month. According to Redfin’s data, seasonally-adjusted home…
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