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[ad_1] Kerala reported 5,944 new COVID-19 cases and 242 virus-related fatalities on Saturday taking the total affected people in the state to 52,70,179 and the death toll to 49,547, a health bulletin stated. Of the deaths, 33 were recorded over the last few days and 209 designated as COVID-19 deaths after receiving appeals based on the new guidelines of the Centre and the directions of the Supreme Court. Among the districts, Thiruvananthapuram recorded the highest number of cases on Saturday with 1,219, followed by Ernakulam with 1,214 and Kozhikode with 580 cases. The state has tested 60,075 samples in the last 24 hours.“Currently, there are 31,098 active COVID-19 cases in the state out of which only seven per cent people are hospitalised,” the health department said in a release. Out of those who were found infected on Saturday, 80 people reached the state from outside while 5,479 others contracted the disease from their contacts. The sources of infection of 337 people are yet to be traced. Forty-eight health workers are also among the infected, the health department said. Meanwhile, 2,463 have recuperated from the disease taking the total number of recoveries in the state to 51,97,960. The health department said there are 1,11,316 people under observation in the state out of whom 2,473 are admitted in isolation wards of various hospitals. [ad_2] Source link

[ad_1] This article is part of our HousingWire 2022 forecast series. After the series wraps, join us on Feb. 8 for the HW+ Virtual 2022 Forecast Event. Bringing together some of the top economists and researchers in housing, the event will provide an in-depth look at the predictions for next year, along with a roundtable discussion on how these insights apply to your business. The event is exclusively for HW+ members, and you can go here to register. The supply-demand imbalance fueling the housing market shows no signs of abating in 2022, even as homebuilders attempt to bridge the gap. An under-supplied market has strong implications for house prices, particularly during a time when prices seemingly set new records every month. Any market characterized by rising demand against insufficient supply is Econ 101 for price growth. In November 2021, the supply of homes for sale nationwide as a percentage of occupied residential inventory remained near historic lows at 1.19% — meaning only 119 in every 10,000 homes were for sale — much lower than the historical average of 2.5%. Homebuilders responded to the shortage of homes for sale, accelerating new home construction, even as they face severe supply-side challenges, including rising building material costs and supply-chain bottlenecks, a lack of affordable lots, and difficulty in finding skilled labor. Many of these supply-side challenges facing builders existed prior to the pandemic but have worsened considerably over the course of the pandemic. However, the underbuilding and resulting accumulation of housing stock “deficits” relative to growing housing demand preceded the pandemic by several years. Measuring the housing deficit One way to measure whether the housing market is under- or over-supplied is by comparing new household formation (rental and owned), which represents new demand for housing, with total new housing units completed and added to the housing stock, which represents new housing supply. In the analysis graphed below, the two-year moving average of new household formation is compared with the total new housing units completed, accounting for the replacement of a small fraction of the old stock for obsolescence. Assuming that the housing market had a balanced supply of homes relative to demand in the year 2000 (no deficit or surplus), we can track the surplus or shortage of housing supply relative to demand cumulatively over time with the grey bars. While we overbuilt relative to demand in the housing boom as household formation was slowing, we have been underbuilding since 2008. Since 2018, the housing supply deficit has been growing. The pandemic may have slowed household formation in 2020, but the pre-pandemic trend was rising household formation. And, if we project the amount of total homebuilding for 2021-2023 at the 2020 pace and use recent projections that the annual household formation will be about 850,000 (slower than pre-pandemic pace), then the housing shortage is here to stay. According to this analysis, while it’s true that there has been lower household formation in the last decade, there has been even less homebuilding. What about existing homes? The majority of the supply of homes for sale come from existing homes, not new construction. Yet, many existing homeowners have withdrawn supply for fear of finding nothing to buy. The result has been that the average amount of time someone lives in their home has soared to a historic high of 10.7 years, which means there are fewer homes on the market as fewer homeowners sell their homes. Furthermore, while rising equity may prompt some existing homeowners to move out and up in 2022, many owners were able to refinance into rock-bottom mortgage rates over the course of the pandemic. As mortgage rates rise, it costs more to borrow the same amount of money, so an increase in mortgage rates can leave existing homeowners feeling ‘rate locked-in’, disincentivizing them from selling their homes. You can’t buy what’s not for sale It’s not all bad news, however. Homebuilders have a lot of homes in the backlog that they haven’t completed and brought to market due to the supply-chain disruptions. If supply chain issues ease, those new homes will come to market and add some modest supply relief, but today’s acute supply shortage will be hard to undo. It will take years of accelerated new-home construction to close the gap from a decade of underbuilding. Millennials will continue to age into their prime home-buying years in 2022, but they will be met with limited inventory, which will continue to put upward pressure on prices. While price acceleration may slow as some buyers pull back from the market due to declining affordability, the supply-demand imbalance means that house prices remain poised to rise further. In short, the housing supply shortage is here to stay, so we can expect house prices will remain elevated in 2022. The post The big short in housing supply isn’t going away appeared first on HousingWire. [ad_2] Source link

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[ad_1] Poland's PM to announce anti-inflationary measures Tuesday, gov't spokesperson says [ad_2] Source link

[ad_1] The third wave of the COVID-19 pandemic across all states is being driven by the fast-spreading Omicron variant, official sources said on Saturday, citing the latest data. Till a few days ago it was only in the western region of the country that the surge in Covid cases was due to Omicron, while in the northeastern states, West Bengal, Chhattisgarh and Odisha the Delta variant was predominant. A source said, however, the latest data suggests that all eastern states have also reported high numbers of Omicron cases. “So going by that it can be said that the third wave of COVID-19 pandemic across all states is being driven by the fast-spreading and highly transmissible Omicron variant,” the source said. India saw a single-day rise of 1,41,986 new coronavirus infections taking the total case tally to 3,53,68,372, according to the Union Health Ministry data updated on Saturday. The government has reiterated and urged people to follow Covid-appropriate behaviour and avoid mass gatherings. The Centre has also asked states and union territories to review infrastructure preparedness, including re-establishment of field/makeshift hospital facilities to avoid any shortage in the eventuality of a potential surge in hospital admissions due to COVID-19. [ad_2] Source link

[ad_1] Local markets spotlights 5 different areas across the country, showcasing what is uniquely happening in those housing markets. Local real estate agents, loan officers and appraisers share what characteristics are currently defining their housing markets. San Diego, California San Diego’s growing economic divisions come through in the city’s housing market. A San Diego Union-Tribune story from this August noted that the city’s unemployment rate hovers around 7%, higher than the national rate of 5.2% at that time, as many leisure and hospitality workers remained sidelined. However, venture capital money is at an all-time high, specifically funding biotech and life science companies. “There’s been a real surge in life sciences and biotech,” said Ross Clark, a Compass agent based in San Diego’s tony La Jolla neighborhood. And that’s created a demand for luxury housing, Clark said, noting that San Diego home prices climbed 20% the past year as neighborhoods gentrify left and right. According to an OJO Labs study, San Diego, whose median home price was $750,000 in September, is more unaffordable to its current residents than Los Angeles. Honolulu, Hawaii An agent for 33 years, Anne Hogan Perry sells luxury homes in Honolulu, Maui and Kauai and says that she is enjoying an unprecedented influx of homebuyers who previously lived in New York or Los Angeles for their jobs. “We have started to see work not be so rigid and time specific,” said Perry, who is an agent at Compass. “I sold a home to a hedge fund guy in New York. Now he just gets up at 4, gets done with work at noon and goes to the beach.” The agent said rich “mainland” residents replaced international buyers, who are restricted in their travel amid the pandemic. But overall demand is on the rise. That’s reflected in home prices, where the median Honolulu home sold for $975,000 in the second quarter of 2021, according to the National Association of Realtors, a climb of 20% year-over-year. Springfield, Missouri The “Queen city of the Ozarks” needs more homes. “While we have lots of new construction, there are lots of delays due to shortage of materials and also construction workers,” said Ethel Curbow, an agent at AMAX real estate. “Also, the cost of materials has prevented a lot of people from custom building.” One issue that comes from this, Curbow said, is that buyers are afraid to pursue their dream home. “People fear if they sell their home, they won’t be able to find something and get into a bidding war.” By the numbers, Springfield is dealing with a similar high-demand, low-inventory quandary as the rest of the country, though with lower prices. The median home price has gone up 17% to $182,000 from August 2020 to August 2021, according to Zillow, while nationally, median home prices climbed 15% to $356,000 in the past year. Augusta, Georgia Some tourists visit Augusta for the James Brown statue or The Master’s golf tournament, but its economy centers around Fort Gordon, a 60,000-acre terrain that is home of the U.S. Army Cyber Command, and 25,000 employees. The high number of public sector jobs is a bulwark against economic highs and lows, said Matt Kelly, an agent at Blanchard & Calhoun. Augusta home sales this year varied due to events that happen every year such as the start of school leading to fewer sales, Kelly said. Still, Augusta home prices are not immune to national trends. The typical home value in September 2021 is $147,000, according to Zillow, up 20% from August 2020. Peoria, Illinois  “If it plays in Peoria, it will play anywhere” is not true when it comes to home price appreciation. After the second quarter of 2021, the current home price went up in the central Illinois city by .2% to $129,000, according to NAR numbers. Nationally, home prices climbed 22% in the same time period. Peoria was hit hard by the departure of the Caterpillar machinery plant in 2017, but its August 2021 unemployment rate of 6.1% was higher, but not wildly higher, than the 4.8% national unemployment rate. Peoria’s affordability partly comes from a lack of outside demand. As the overall U.S. population increased 7.4% from 2010 to 2020, Peoria’s population dropped 2.5% to 182,000 residents. This article was first featured in the Dec/Jan HousingWire Magazine issue. To read the full issue, go here. The post A closer look at housing markets across the country appeared first on HousingWire. [ad_2] Source link

[ad_1] If you know you’ll likely be carrying some debt on your credit card from month to month—or you’re simply trying to pay off a balance—then a low-interest credit card might be a good choice for you. After all, why lock yourself into the typical 19.99% credit card interest rate when you have the option to pay about half that? So, who has the best credit card interest rate? Here are some solid low-interest cards to consider: * Find your next credit card.What kind of credit card are you looking for? Get matched with the best cards for you in under 2 minutes at ratehub.ca. Let’s get started. I want to earn rewardsI want to pay low interest * Cards are exclusive partners of ratehub.ca. Read below for MoneySense’s top editorial picks. The best low-interest credit cards in Canada 2022 These are credit cards offered by Ratehub partners. You can find information about additional product options below.* Card Interest rate (APR) Annual fee MBNA True Line Gold (get more details)* 8.99% $39 MBNA True Line (get more details)* 12.99% $0 HSBC +Rewards Mastercard (get more details)* 11.9% $25 BMO Preferred Rate (get more details)* 12.99% $20 (waived first year) National Bank Syncro Card (get more details)* Prime plus 4% (currently 8.90%) $35 NOTE: MBNA True Line offers are not available for residents of Quebec Fixed rate cards Most credit cards offer a fixed interest rate, meaning that there is a single, unchanging percentage charged against your purchases. (Balance transfers or cash advances frequently have a different, but also fixed, rate.)  MBNA True Line Gold Mastercard* This card’s 8.99% interest rate is less than half of a typical card’s rate, making it a strong contender for the best low-interest-rate credit card in Canada. And while it isn’t a no-fee card, its reasonable $39 annual fee is worth it, considering this card helps you save in the long run. Annual fee: $39  Interest rate: 8.99% on purchases and balance transfers Additional benefits: Savings with Avis and Budget Rent A Car; protection against fraudulent charges; purchase protection and extended warranty Note: This offer is not available for residents of Quebec. Get more details about the MBNA True Line Gold Mastercard* Modulo Visa The Modulo Visa—from the Desjardins Group, a Canadian co-operative of credit unions—has a lot more than low interest going for it. The purchase interest rate of 10.99% is very competitive, but unlike most low-interest cards, the Modulo includes rare perks and rewards. First, in a sort of twist on the cash back idea, the Modulo offers 1% of your purchases back in Bonusdollars Rewards—each is worth $1 and can be redeemed for gift cards, merchandise, travel, financial products and even donations to charity. The card also carries travel and mobile device insurance, which makes the already modest annual fee of $50 even more reasonable. Annual fee: $50 Interest rate: 10.99% on purchases Rewards: Get 1% of your purchases in Bonusdollars, redeemable for trips, gifts and more Additional benefits: Travel insurance for short trips, including up to 3 days of emergency health care coverage, cancellation insurance and baggage protection; $1,000 in mobile insurance coverage for cell phones, smartphones or tablets HSBC +Rewards Mastercard* With an 11.9% annual interest rate for purchases, cash advances and balance transfers, the HSBC +Rewards Mastercard doesn’t have the lowest rate on this list, but don’t write it off yet. This card does allow you to earn rewards on credit card purchases. When you use it for dining or entertainment, you’ll receive 2 HSBC points per $1. Other everyday purchases earn 1 point per $1. HSBC points can be redeemed for travel, merchandise or gift cards, as well as financial rewards like credit on your Mastercard, mortgage or savings account. In the travel category, 1 point is worth $0.005.  Annual fee: $25 Welcome offer: Earn up to 30,000 points ($150 value) after you spend $2,000 within 6 months of having the card. Must apply before January 31, 2022. Interest rate: 11.9% Rewards: 2 HSBC rewards points per $1 on dining and entertainment; 1 point per $1 on everything else Additional benefits: Purchase protection Get more details about the HSBC+ Rewards Mastercard* MBNA True Line Mastercard* Typically, the trade-off with a low-interest card is that it comes with an annual fee, but somehow the no-fee MBNA True Line Mastercard manages to offer a 12.99% interest rate on purchases and balance transfers.  Annual fee: $0 Interest rate: 12.99% on purchases and balance transfers Additional benefits: Savings at Avis and Budget Rent A Car; protection against fraudulent charges Welcome offer: Get a 0% promotional annual interest rate (“AIR”) for 12 months on balance transfers within first 90 days of opening the account. Note: This offer is not available for residents of Quebec. Get more details about the MBNA True Line Mastercard* American Express Essential Credit Card The only Amex on this list, the Essential offers a 12.99% interest rate on purchases and cash advances with no annual fee. Cardholders get priority access with American Express Invites, which includes Front of the Line offers for concerts, events and even restaurant reservations. Annual fee: $0 Interest rate: 12.99% on purchases and cash advances Additional benefits: $100,000 in travel accident insurance; purchase protection and extended warranty BMO Preferred Rate Mastercard* The Preferred Rate Mastercard from BMO offers a 12.99% interest rate for purchases and balance transfers and a 15.99% interest rate for cash advances. The annual fee is only $20, putting it in easy reach of most, and new applicants will receive a waiver for the first year. The card’s balance transfer offer of 3.99% for the first 10 months (plus a 1% transfer fee) isn’t the best deal available, but it’s a nice-to-have. As a BMO Mastercard, this card will work well for those who want to keep all their accounts with a single institution and stick with a big bank. Annual fee: $20 Interest rate: 12.99% on purchases and balance transfers and 15.99% on cash advances Balance transfer offer: 3.99% interest for the

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[ad_1] Biden calls Colorado's most destructive wildfire 'code red' climate warning [ad_2] Source link