A significant percentage of Australians are experiencing housing stress amid a sharp growth in rents and interest rates, according to new research. The national housing campaign Everybody’s Home, launched by a coalition of housing, homelessness, and welfare organisations has released a report (pdf) revealing the impact of the housing crisis on the community. The report,…
Homeowners, Renters Struggling With Housing Stress: Research
July 24, 2023
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AustraliaBusiness & MarketsCoreLogiceconomic policiesGlobal Real Estatehousing crisishousing stressreal estateWorld
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New South Wales to Pour $55 Million Into Accommodation for Homeless People
New South Wales (NSW) is investing over $55 million (US$36 million) a year in hotel rooms for homeless people as rent increases are skyrocketing in Australia’s most populous state. Housing Minister Rose Jackson said the number of people in temporary accommodation, a place where homeless people get a shower and shelter, has surged in recent…
BC to Spend Billions on Plan to Build More Homes to Ease Housing Crisis
The British Columbia government has introduced a multibillion-dollar plan to construct more homes as quickly as possible in an attempt to build its way out of the housing crisis. The so-called Homes for People plan starts with a $4-billion investment over three years and commits to $12 billion over a decade with incentives to build,…
New Portuguese Law Will Force Owners of Vacant Homes to Get Tenants
February 21, 2023
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Business & Marketseconomic policieseconomyEuropeGlobal Real Estategolden visahousing crisisInvestmentPortugalreal estateWorld
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The Portuguese government announced new measures last week to handle the country’s housing crisis, including ending the so-called “golden visa” program, and would put a ban on short-term holiday rental licenses, like for Airbnbs. Lisbon wants to force owners of vacant properties across Portugal to open them up to long-term renters because of soaring home and…
Mayor Eric Adams Announces Plans to Convert NYC Offices Into 20,000 Apartments
Mayor Eric Adams on Monday unveiled plans to convert vacant office space in New York City into new apartments to help relieve the city’s affordable housing crisis. Following the recommendations in a report from a city-led task force that was established in July of 2022, the mayor is making 11 recommendations that would make changes…
Toronto Mayor Pledges Nearly $2 Billion in 2023 Budget to Fight Housing Crisis
Toronto Mayor John Tory, in announcing the 2023 budget, has pledged close to $2 billion in gross spending to address the city’s housing crisis. The budget allots $616 million in direct support from the city’s tax base for housing initiatives, apart from spending on the COVID-19 pandemic. The housing initiatives are based on the 2023 Housing…
Toronto Mayor Pledges Nearly $2 Billion in 2023 Budget for Housing Initiatives
Toronto Mayor John Tory, in announcing the 2023 budget, is investing close to $2 billion in gross spending toward initiatives to address the city’s housing shortage. The budget allots $616 million in direct support from the city’s tax base for housing initiatives, apart from spending on the COVID-19 pandemic. The housing initiatives are based on…
Eby Announces Dedicated BC Housing Ministry, as Opposition Seeks Audit of Providers
The housing crisis in British Columbia will receive the attention of a dedicated place at the government’s cabinet table, new Premier David Eby announced, as the Opposition raised concerns about his own management of the brief. Eby, who is set to set to announce his cabinet Dec. 7, said Tuesday he would appoint the first stand-alone housing minister to…
Regional Housing Crunch Causes Legal Spike
Housing and homelessness problems in regional New South Wales have reached a crisis point, with legal advocates fielding a surge in calls for assistance. Legal Aid NSW says services provided to clients at risk of losing their homes have increased by 53 percent in the past year. Calls for help have mostly come from regional…
The Start of the 2022 Housing Crash
Empty homes have started to pile up across the country. Inventory is surging, along with price cuts in cities least expected. Counties where there has been a large influx of buyers—such as in Tampa, Fla.; Dallas, Tex.; and Phoenix, Ariz.—are now seeing a large influx in inventory. The housing market is in bubble territory due…
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