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Housing Crisis In Quebec
Quebec's housing crisis (French: ''crise du logement, pénurie du logement,'' or ''crise du marché immobilier'') is a speculative bubble that has severely affected the prices, quality and availability of real estate for people in Quebec and Canada since the 1980s. The average price of a home has risen from $48,715 in 1980 to $424,844 in 2021. This bubble has many causes. It also bears consequences for the quality of life of Quebecers and the economy of Quebec. Historical average for the price of a single-family home The average price of a single-family home doubles every 10 years, and salaries are not keeping pace with these increases. The low interest rates that took hold in the early 2000s, globalization and technology are all cited as having contributed massively to the surge in real estate acquisitions and the meteoric rise in prices. Cities in a critical state Contrary to popular belief, the shortage is not at its worst in Montreal. The city most affected by this crisis ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Speculative Bubble
Speculative may refer to: In arts and entertainment *Speculative art (other) *Speculative fiction, which includes elements created out of human imagination, such as the science fiction and fantasy genres ** Speculative Fiction Group, a Persian literature group whose website which is named Fantasy Academy ** Speculative poetry, a genre of poetry that focuses on fantastic, science fictional and mythological themes * Speculative screenplay, or spec script, a non-commissioned, unsolicited screenplay * The Speculative Society, a Scottish Enlightenment society dedicated to public speaking and literary composition, founded in 1764 In computing *Speculative execution, in computer systems is doing work, the result of which may not be needed. This performance optimization technique is used in pipelined processors and other systems *Speculative multithreading, a dynamic parallelization technique that depends on out-of-order execution to achieve speedup on multiprocessor CPUs. It is a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Housing Crisis
An affordable housing crisis or housing crisis is either a widespread housing shortage in places where people want to live or a financial crisis in the housing market. Housing crises can contribute to homelessness and housing insecurity. They are difficult to address, because they are a complex "web of problems and dysfunctions" with many contributing factors, but generally result from housing costs rising faster than household income. There is an ongoing decades-long increasing trend of cities around the world facing housing crises. Some notable examples of financial crises in the housing market are the American subprime mortgage crisis in 2007-2008 and the Chinese property sector crisis beginning in 2020. Global In much of the world, incomes are too low to afford basic formal housing, as housing expenses have increased faster than wages in many cities, especially since the 2008 financial crisis. In some places, this leads to informal settlement in slums or shantytowns, wh ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Housing In Canada
Housing refers to a property containing one or more shelter as a living space. Housing spaces are inhabited either by individuals or a collective group of people. Housing is also referred to as a human need and human right, playing a critical role in shaping the quality of life for individuals, families, and communities. As a result, the quality and type of housing an individual or collective inhabits plays a large role in housing organization and housing policy. Overview Housing is a physical structure indented for dwelling, lodging or shelter that homes people and provides them with a place to reside. Housing includes a wide range of sub-genres from apartments and houses to temporary shelters and emergency accommodations. Access to safe, affordable, and stable housing is essential for a person to achieve optimal health, safety, and overall well-being. Housing affects economic, social, and cultural opportunities as it is directly linked to education, employment, healthca ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Public Housing In Canada
Public housing policies in Canada includes rent controls, as well as subsidized interest rates and grants. Early public housing policy in Canada consisted of public-private lending schemes which focused on expanding home ownership among the middle class. The first major housing initiative in Canada was the Dominion Housing Act of 1935, which increased the amount of credit available for mortgage loans. In 1938 the DHA was replaced with the National Housing Act. In 1945 the Central Mortgage and Housing Corporation was established with the mandate the NHA. In 1954 a National Housing Act amendment led to the creation of government-insured mortgage institutions, which sought to make loans more accessible for low income and rural households. During the 1970s several policies were implemented which focused more heavily on inexpensive rental accommodations, including the Assisted Rental Program and Canada Rental Supply Program. Following changing policies and budget cuts in 1993, responsibi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Affordable Housing And Groceries Act, Bill C-56
The ''Affordable Housing and Groceries Act'', Bill C-56 () is a proposed legislation tabled in the House of Commons of Canada on 21 September 2023. The legislation has two parts. The first will temporarily remove the goods and services tax (GST) on new residential rental developments. The second part consists of three competition-related changes. Bill C-56's amendments will expand the role of the Minister of Industry, which is expected to politicize the competition policy enforcement process. Critics of the bill note that competition policy is unlikely to be helpful in reducing price inflation in the grocery sector, as studies indicate it is a low-margin industry that has been hit by recent adverse macroeconomic shocks. The Business Council of Canada says there has been inadequate consultation to consider the proposed amendments' possibly wide-ranging consequences. Purpose A press release from Canadian Prime Minister Justin Trudeau's office on 14 September 2023 said the gover ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Affordable Housing In Canada
In Canada, affordable housing refers to living spaces that are financially accessible to people with a median household income. Canada ranks among the lowest of the most developed countries for housing affordability. Housing affordability is generally measured based on a shelter-cost-to-income ratio (STIR) of 30% by the Canada Mortgage and Housing Corporation (CMHC), the national housing agency of Canada. It encompasses a continuum ranging from market-based options like affordable rental housing and affordable home ownership, to non-market alternatives such as government-subsidized housing (emergency shelters, transitional housing, and public housing). Definition Different people, organizations and institutions have adopted different definitions of "affordability" and "affordable housing." Those invested market-based solutions may use different meanings of the phrase than those working towards non-market based solutions. For example, the City of Calgary refers to "affordab ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
California Housing Shortage
Since about 1970, California has been experiencing an extended and increasing housing shortage, such that by 2018, California ranked 49th among the states of the U.S. in terms of housing units per resident. This shortage has been estimated to be 3-4 million housing units (20-30% of California's housing stock, 14 million) . As of 2018, experts said that California needs to double its current rate of housing production (85,000 units per year) to keep up with expected population growth and prevent prices from further increasing, and needs to quadruple the current rate of housing production over the next seven years in order for prices and rents to decline. The imbalance between supply and demand resulted from strong economic growth creating hundreds of thousands of new jobs (which increases demand for housing) and the intentional, NIMBY-caused illegality of new housing units to meet demand. From 2012 to 2017 statewide, for every five new residents, one new housing unit was co ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Flipping
In finance, flipping is purchasing an asset to quickly resell (or "flip") it for profit. Within the real estate industry, the term is used by investors to describe the process of buying, rehabbing, and selling properties for profit. In 2017, 207,088 houses or condos were flipped in the US, an 11-year high. That number represents 5.9 percent of all single-family properties sold during that year Effects Bubbles A spate of flipping often creates an economic bubble which then bursts, such as during the Florida land boom of the 1920s. In the 2000s, relaxed federal borrowing standards (including subprime lending) allowed a borrower to purchase a home with little or no money down, which may have led directly to a boom in demand for houses. Because it was easy to borrow, many investors bought homes as property speculation with no intent to live in them. Since the demand outstripped the supply, prices rose, giving a short-term profit. This resulted in an inflationary spiral until th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Canadian Property Bubble
The Canadian property bubble refers to a significant rise in Canadian real estate prices from 2002 to present (with short periods of falling prices in 2008, 2017, and 2022). The Dallas Federal Reserve rated Canadian real estate as "exuberant" beginning in 2003. From 2003 to 2018, Canada saw an increase in home and property prices of up to 337% in some cities.Haber, Bob. "Canadian Real Estate Bubble Blowing Up North." Forbes, Forbes Magazine, April 3, 2018, www.forbes.com/sites/bobhaber/2018/04/02/canadian-real-estate-bubble-blowing-up-north/#1b74d3871d5e. In 2016, the OECD warned that Canada's financial stability was at risk due to elevated housing prices, investment and household debt. By 2018, home-owning costs were above 1990 levels when Canada saw its last housing bubble burst.Tencer, Daniel (October 3, 2018)Canada At Risk As 'First Cracks' Appear In Global Housing Bubbles: UBS. ''HuffPost'' (Canada edition) Bloomberg Economics ranked Canada as the second largest housing bubb ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Inuit
Inuit (singular: Inuk) are a group of culturally and historically similar Indigenous peoples traditionally inhabiting the Arctic and Subarctic regions of North America and Russia, including Greenland, Labrador, Quebec, Nunavut, the Northwest Territories, Yukon (traditionally), Alaska, and the Chukotsky District of Chukotka Autonomous Okrug. The Inuit languages are part of the Eskaleut languages, also known as Inuit-Yupik-Unangan, and also as Eskimo–Aleut. Canadian Inuit live throughout most of Northern Canada in the territory of Nunavut, Nunavik in the northern third of Quebec, the Nunatsiavut in Labrador, and in various parts of the Northwest Territories and Yukon (traditionally), particularly around the Arctic Ocean, in the Inuvialuit Settlement Region. These areas are known, by Inuit Tapiriit Kanatami and the Government of Canada, as Inuit Nunangat. In Canada, sections 25 and 35 of the Constitution Act of 1982 classify Inuit as a distinctive group of Abo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Leilani Farha
Leilani Farha is a Canadian lawyer who is the Global Director of THE SHIFT, an international human rights organization focused on housing, finance and climate. Between June 2014 and April 2020, she was the United Nations special rapporteur on adequate housing. Career Farha is a lawyer and social worker by training (LLB/MSW) and an alumna of the University of Toronto, and has been an Executive Director of the Centre for Equality Rights in Accommodation (CERA) and Canada Without Poverty. United Nations special rapporteur on housing In her tenure as Special Rapporteur, she has focused on economic inequality and an absence of effective political representation for the poor as causes of homelessness or inadequate accommodation. Farha campaigns for the right to adequate housing for marginalized groups, she worked in Canada to implement United Nations resolutions that see homelessness as a violation of human rights. Farha has taken part in missions worldwide to examine the condition of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
