Housing

In January 2020 the median home price was $266,300, according to the National Association of Realtors. It's now $406,700 as of July – a 52% increase.

The White House hopes the initiative will alleviate both these problems, creating more housing and revitalizing the commercial real estate sector.

"This presents an area of opportunity to both increase housing supply while revitalizing main streets. It's a win-win," Lael Brainard, director of the National Economic Council, told ABC News.

Conversions are faster than new construction, 20% cheaper, and produce fewer greenhouse gas emissions, the White House added.

As governments across Australia urgently seek solutions to the housing crisis, a number of councillors, housing groups and urban planners have raised concerns we might be sacrificing living standards and at risk of creating new urban slums.

The Fairbnb Co-op, which began in Europe in 2014, soft-launched a Canadian platform on Wednesday. It doesn’t have any listings yet, but once a critical number of hosts have signed up, the platform will officially launch in South Georgian Bay, Ont.

In many ways, FairBnb serves an identical function to its namesake. But it will be different from Airbnb in two important ways.

First, hosts must prove that the property is their principal residence, cutting out the estimated 50 per cent of hosts on Airbnb who manage multiple listings. And 50 per cent of the platform’s service fees go into developing community land trusts (CLTs), which are non-profit corporations that own land and use it to benefit their communities.

Inside Airbnb is a mission driven project that provides data and advocacy about Airbnb's impact on residential communities.

We work towards a vision where communities are empowered with data and information to understand, decide and control the role of renting residential homes to tourists.

A surge in people being forced to live in bed and breakfasts and other temporary homes in England is costing the taxpayer £1.7bn a year, “shameful” council data analysed by the Local Government Association has revealed.

The worsening shortage of social housing and increasingly unaffordable private rents are among reasons councils are now paying for 104,000 households to live in temporary accommodation – more than at any time in the past 25 years.

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The LGA, the councils’ umbrella group, is demanding the chancellor, Jeremy Hunt, use his coming autumn budget statement to increase housing benefit to make more private rented homes affordable to people on welfare, and to reform housing rules to allow councils to build more social housing.

“Council budgets are being squeezed and the chronic shortage of suitable housing across the country means that councils are increasingly having to turn to alternative options for accommodation at a significant cost,” said Darren Rodwell, the leader of the London borough of Barking and Dagenham and the LGA’s housing spokesperson. “Councils need to be given the powers and resources to build enough social homes for their residents so they can create a more prosperous place to live, with healthier and happier communities.”

At least eight MPs who spoke during a Parliamentary debate on renters’ rights yesterday were landlords, openDemocracy analysis has found.

Tenants’ groups told us they were concerned about a lack of transparency during the second reading of the Renters (Reform) Bill, with one MP forgetting to declare an interest until after the fact, while those with rental income below £10,000 a year were under no obligation to declare anything.

The city has unveiled a $36-billion plan to build 65,000 rental homes in Toronto over the next seven years, a target that would require a massive unconfirmed investment from the federal and provincial governments.

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“We are reversing the destructive thinking over the past two decades … that only the private sector can build housing,” Chow said. “The path in front of us is ambitious. It is urgently needed.”

Across Australia, 3.7m households have experienced food insecurity over the past 12 months, a jump of almost 350,000 on the previous year, Foodbank’s annual hunger report has revealed.

More than 2.3m of those households were “severely food insecure”, meaning they were actively going hungry, reducing food intake, skipping meals or going entire days without eating.

“The primary purpose of the law is to fill empty homes,” supervisor Dean Preston, the law’s chief backer, told Fortune Friday. “Holding housing off the market for a long time, when there are people who need housing, is bad for our city,” he said. “Our hope is that [the tax] is enough to change the decision making of the real-estate speculator or the owner of the property.”

Sometimes, developers have a strategy of buying buildings, removing longtime tenants, and then reselling at a profit, Preston said. More recently, some new constructions have failed to sell units amid a market slump, creating “zombie buildings,” the San Francisco Chronicle reported last month.

Infrastructure Victoria has used a major new report to call for changes including building 130 more buildings taller than nine storeys in the city centre, setting targets for constructing new homes in established areas and replacing stamp duty.

It sounds the alarm on the social, environmental and economic costs if Melbourne’s growth continues to be predominantly in outer suburbs, where 56 per cent of the city’s development has been occurring.