Housing

The Co-operative Housing Federation of Canada has just released a study comparing rents in co-op housing units to rents of similar private-sector market units in Victoria, Vancouver, Edmonton, Toronto and Ottawa for the period 2006–2021. I played a small role in writing the report. A ‘top 10’ overview of the report can be found here: https://nickfalvo.ca/the-co-op-difference-comparing-co-op-and-market-rents-in-five-canadian-cities/ A French version of [...]

In a recent post, we introduced the Multivariate Core Trend (MTC), a measure of inflation persistence in the core sectors of the personal consumption expenditure (PCE) price index. With data up to February 2022, we used the MCT to interpret the nature of post-pandemic price spikes, arguing that inflation dynamics were dominated by a persistent component largely common across sectors, which we estimated at around 5 percent. Indeed, over the year, inflation proved to be persistent and broad based, and core PCE inflation is likely to end 2022 near 5 percent. So, what is the MCT telling us today? In this post, we extend our analysis to data through November 2022 and detect signs of a decline in the persistent component of inflation in recent data. We then dissect the layers of inflation persistence to fully understand that decline.

States try tax reform to fix housing affordability On RN Breakfast with Fran Kelly I was interviewed by Max Chalmers for this segment on RN Breakfast about the transfer from stamp duties to land tax that is happening in the … Continue reading →

Since the start of the pandemic, home prices in the U.S. have increased by an astonishing 40 percent. The New York-Northern New Jersey region saw a similar meteoric rise, as home prices shot up by 30 percent or more almost everywhere—even in upstate New York, where economic growth was sluggish well before the pandemic hit. New York City is the exception, where home price growth was less than half that pace. Indeed, home prices actually declined in Manhattan early in the pandemic, though they have rebounded markedly since. Much of the region’s home price boom can be traced to the rise in remote work, which increased the already strong demand for housing at a time when housing inventories were low and declining. Home price increases have largely outpaced income gains through the pandemic boom, resulting in a reduction in housing affordability in the region. However, with mortgage rates rising, it appears that the region’s housing boom is waning, as it is for the nation as a whole, with prices leveling off, though the inventory of available homes remains historically low.

A council has refused a family homelessness support as they are satisfied the mother has accommodation in a country riven by conflict and violence, Sian Norris reports

Bankers have contributed a-third of the party’s income over recent months, amid plans to remove the cap on their bonuses, reports Sam Bright

Manasa Narayanan speaks to people who are homeless, surviving on Westminster's streets in the shadow of Parliament

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