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Want to Solve the Housing Crisis?Respond to Extreme Demand

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Housing and households in major Canadian cities from 2006 to 2016, according to data from the Canada Mortgage and Housing Corporation and the census. (CMHC / Census data), provided by author

NS Recent News on New Zealand’s Radical New Housing Act And whether such measures work in Canada means that soaring house prices are due to supply shortages.

On that election platform, The Liberal Party has proposed investing $ 4 billion in municipal supply accelerators The aim is to build more homes. This is the wrong approach.

If policy makers and newly re-elected governments want to improve the affordability of homes and the ability of young families to become homeowners, they need to pay attention to the main factors behind price increases.Supercharged demandWas attacked by the sacred cow of Tax exemption on capital gains of main residence..

Voice chorus, From the bank economist NS Real estate industryPerpetuate the argument that it is the main cause of the surge House price There is a shortage of supply.This view has been strengthened Emphasized in media coverage and in recent election platforms..

This view of “insufficient supply” makes use of the basic economics 101 textbook, and using the widget example and a simple supply and demand curve, the price drops due to the increase in supply.

But the house is not a widget. They are unique entities that are basic needs and increasingly investment products. They are also fixed in location, and their values reflect the attributes of the locale that the buyer is willing to evaluate and pay extra.

The house is above the household budget

Between 2006 and 2016, Canada added 1,636 million households nationwide and built 1,919 million new homes. Canada Mortgage and Housing Corporation When Census data.. As a result, on average, about 30,000 additional homes were built each year, compared to the increase in the number of households.

In Vancouver, new construction outperformed household growth by 19%. In Toronto it was 1%, but in Ottawa it was 4% below household growth.

Therefore, in theory, there should have been the largest price increase in Ottawa and lower price pressure in Vancouver between 2006 and 2016. However, prices rose 93% and 96% in Vancouver and Toronto, respectively, but only 47% in Ottawa.

Inadequate supply can contribute, especially in cities where household growth exceeds new House Construction, but it’s not the main or most important cause.

The more important cause is demand, not only the quantity of demand, but also the quality of demand.

Excessive demand generated by households, coupled with strong income growth and declining, and historically low mortgage rates, has virtually accumulated equity from the sustained rise in household value over the past few decades. I have seen a new phenomenon of.

Homeowners trade up

In Canada We sell about 700,000 homes a year Via resale plus Newly built house.. With 14 million households, this is only 5% of all households.

Many of these buyers are existing owners who are trading up. Only one-quarter to one-third of buyers are first-time buyers (mostly high-income earners, Parenting help). It is the larger group, the buyers who are trading up, who have the ability to pay these high prices. Certainly only a few of them may be foreign buyers When Some are investors, But most are ordinary households.

Many existing owners Income well above the median..They also significantly increased purchasing power from Historically low interest rates, And considerable wealth from unearned income generated by price increases over the years.

More importantly, they undermine the notion that additional supply slows or slows the rate of price increases. All cities are anxious for properties in their desired areas. Often, it’s a modest, old dwelling in a significant parcel. Due to its excellent location, for example, a home in downtown Vancouver could sell for between $ 2 million and $ 3 million, or perhaps $ 800,000 in Ottawa.

Developers often buy those lots, demolish existing homes and replace them with two or three modern new homes. Pricing reflects the value consumers attribute to the region and inevitably exceeds the original home price.

Developer role

For example, in central Ottawa Existing modest homes are bought for $ 600,000 to $ 700,000 and have been demolished and replaced Semi-sold on each side for $ 1.2 million to $ 1.4 million.

The same thing is happening Whole country, The price of a new home will be double the price of an existing home. The old house would have been reasonably affordable for young families if they hadn’t been overpriced by the developers.

Obviously this form of enhancement (Rezoning the neighborhood of an exclusive single-family homeAnd the expansion of supply will not stall or delay price increases, especially given the demand from buyers with wealth accumulated in search of assets in these locations. Therefore, a high supply does not mean a low supply. price..

Therefore, if overcharged home purchasing power is rising House priceThe necessary policy response, not inadequate supply, must be aimed at stagnating or curbing this demand by confiscating some of the accumulated gratitude wind and rain benefits.

This means taking on the sacred cow tax on the capital gains of the house. Young Canadians can thank them and even vote for the courageous party to do it.

Data confirms that the house near work is too expensive

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Quote: Want to solve the housing crisis? To supercharged demand (November 26, 2021) acquired on November 26, 2021 from https://phys.org/news/2021-11-housing-crisis-super-charged-demand.html deal with

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Polish Researchers Invent Anti-smog Sound Cannon

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“We use vertical shock waves generated by the combustion of acetylene and air,” says Dominique Grivos on the right.

In the constant fight against Poland’s smog, scientists are experimenting with new “cannons” that use sound waves to push toxic particles into the atmosphere, allowing residents to breathe.

The experimental device sits on a metal container and consists of a large upside-down cone that makes a loud noise every 6 seconds.

The purpose is to track smog From Kalwaria Zebrzydowska, where the inhabitants face problems every winter in a heavily polluted state, like many Polish towns and cities. Heating system..

When the sun goes down, the chimneys spew out thick smoke, causing heavy smog to fall into the town.

Poland is one of the most polluted countries in Europe, violating EU standards by hundreds of percentage points at the worst of the year.

By creating sound waves, researchers can “Cannon“Helps reduce the concentration of harmful PM2.5 and PM10 particles in the town air.

“We use vertical shock waves generated by the burning of acetylene and air,” said Dominik Grybos of the Mining and Metallurgy Academy in Krakow, one of the inventors.

“The waves are Polluted air Higher, “he told AFP.

The Toxic particles It is sent hundreds of meters (yards) high and is harmless to the inhabitants.

The experimental sound “cannon”, as described by Polish researchers, can blow toxic particles into the sky hundreds of meters.

“We found that using the cannon for 30 minutes to an hour reduced pollution by 15-30% within a range of 2-3 km (1.2-1.9 miles) from the cannon,” says Grybos. He adds that the effect lasts “between 1 and 3 hours.”

Researchers are trying to calculate the required frequency of blast waves and the duration and time required for the entire procedure.

The price is estimated to be 1,000 to 1,500 zloty ($ 250 to $ 375) for one hour of use.

Mr. Grivos said he hopes that the invention will find commercial use, especially in Poland.

Residents of Kalwaria Zebrzydowska are in widespread support for this idea, despite the sound.

“The smog is very heavy here. The smell is so bad that I can’t deflate the apartment. If that helps, let them test,” said 43-year-old accountant Joranta Warkowich.

“I can hardly hear the sound. It’s like a fireworks display,” she added.

Toxic smog chokes Indian capital during Diwali celebration

© 2022 AFP

Quote: Polish researchers obtained the Anti-Smog Sound Cannon (January 20, 2022) from https: //phys.org/news/2022-01-anti-smog-cannon.html on January 20, 2022. ) Was invented

This document is subject to copyright. No part may be reproduced without written permission, except for fair transactions for personal investigation or research purposes. Content is provided for informational purposes only.

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Jake Paul Reportedly Earned $ 45 Million in 2021 and Logan Earned $ 18 Million.

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Jake When Logan Paul It was a money-making machine in 2021 … People who turned from YouTube superstars to boxers reportedly made a total of $ 63 million over the past year.

Forbes We just released a list of the highest-paying influencers on social media platforms on Friday … Problem Child comes in second and is expected to generate $ 45 million in revenue.

The outlet reports that about $ 40 million of that Mula came through the boxing ring-Jake is defeating Ben Askren April and Tyron Woodley In August and December.

Whether or not Jake is considered a “real” boxer, the serious money he has in his pocket is indisputable-his income in 2021 made him among the top athletes last year. You put it in … Canelo AlvarezIt reportedly brought in $ 34 million.

Logan, who ranked 8th on Forbes’ YouTube list, reportedly earned $ 18 million in 2021 … Floyd Mayweather, His “Impaulsive” podcast, and other business opportunities.

Despite the insane profits of 2021, neither Jake nor Logan could beat Beast As the number one spot, the YouTube King brought only $ 54 million.

Jake Paul reportedly earned $ 45 million in 2021 and Logan earned $ 18 million.

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Florida Black Bear Killed After Attacking a Dog Walking Woman

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Volcia County, Florida — A black bear in Florida was killed after attacking a woman walking a dog on Thursday night.

and Press releaseThe Florida Fish and Wildlife Conservation Commission (FWC), along with the Volusia County Sheriff’s Office, said it answered a call at DeBary around 9 pm about a woman who was injured by a black bear while walking her dog.

Upon arrival, the agent found an adult female bear of a yearling in a nearby tree.

“FWC bear biologists threw adult bears in trees and humanely killed them according to FWC policy to protect public safety,” FWC said in a press release.

The FWC refused to capture the yearlings because “three 100-pound yearlings are old enough to survive on their own.”

The woman was treated by EMS for a non-life-threatening injury. According to the FWC, her dog was not injured.

If you feel threatened by a bear, please contact the FWC Wildlife Alert Hotline (888-404-FWCC (3922)). Observe sick, injured, dead, or orphaned bears. Or report someone who is harming or intentionally feeding the bear. For more information on how to avoid bear-to-bear collisions, please visit: MyFWC.com/Bear also BearWise.org..

Florida black bear killed after attacking a dog walking woman

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