Latest news with #populationgrowth
Bloomberg
4 hours ago
- Business
- Bloomberg
Namibia Unveils Bold Reform to Regain Upper-Middle-Income Status
Namibia unveiled an ambitious development plan targeting average economic growth of 7% over the next five years, as it seeks to restore its upper-middle-income status by the end of the decade. The arid southwest African nation was downgraded by the World Bank to lower-middle-income earlier this month after its gross national income per capita fell slightly below the $4,496 threshold to maintain the higher status, amid weaker economic activity and increased population growth. The economy grew 3.7% last year from 4.4% in 2023, due to a decline in mining activity.
Yahoo
4 days ago
- Politics
- Yahoo
Michael Taube: Poilievre's right — Canada needs a hard cap on immigration
Conservative Leader Pierre Poilievre has long recognized what the Liberals have only started to acknowledge: immigration levels in Canada are too high and unsustainable. He has a plan to get things back under control, and it's a sensible political strategy to take. Poilievre suggested a new immigration policy for the Conservatives in June. 'We want severe limits on population growth to reverse the damage the Liberals did to our system,' he said at a press conference last month. 'The population has been growing out of control, our border has been left wide open. This has caused the free flow of drugs, illegal migration, human trafficking and much worse.' Global News asked him to elaborate on his remarks at a press conference in Ottawa this week. 'In order to fix the problem,' he replied, 'we've got to put very hard caps on immigration levels. We need more people leaving than coming for the next couple of years … so our country can actually catch up.' In addition, Poilievre pointed out that, 'We've had population growth of roughly a million a year under the Liberals, while we barely build 200,000 homes. Our job market is stalled and yet we are adding more people to the workforce. Our young people are facing generational highs in unemployment because … multinational corporations are giving jobs to low-wage temporary foreign workers.' He's right. Conservatives recognize the importance of immigration on everything from promoting diversity to achieving economic success, but they also recognize that Canada simply can't handle the financial burden that the annual influx of immigration has caused over the past decade of Liberal rule. It wasn't always this way. Statistics Canada's 2016 paper, '150 years of immigration in Canada,' noted that the number of landed immigrants since the 1990s had 'remained relatively high, with an average of approximately 235,000 new immigrants per year.' The highest tally ever recorded to that point was in 1913, when 'more than 400,000 immigrants arrived in the country.' Canada experienced a steady level of population growth through immigration for more than a century. Until Justin Trudeau was elected prime minister, that is. Trudeau's early years actually didn't witness a significant spike in immigration. A total of 296,350 immigrants arrived on our shores in 2016, while the number decreased slightly to 286,480 in 2017. Nothing out of the ordinary, all things considered. But in 2016, the federal government's advisory council on economic growth suggested that immigration targets could be increased by 150,000 annually over the next five years. It specifically recommended Ottawa take a 'gradual approach to scaling annual immigration to the recommended 450,000 level over the next 5 years.' This was all the evidence Trudeau needed to follow in his late father's footsteps as a champion of immigration and acquire more votes from appreciative new Canadians for elections to come. The Liberals increased Canada's immigration level to 321,040 in 2018 and 341,180 in 2019. It dropped to 184,600 in 2020, the first year of the COVID-19 pandemic, but rose to 406,055 in 2021, 437,630 in 2022, 471,820 in 2023 and 482,640 in 2024. Trudeau eventually admitted that Ottawa 'didn't get the balance quite right' and announced a pause on population growth. But it was too little, too late. His immigration policies have caused numerous problems, including an affordability crisis, skyrocketing house prices and fewer job prospects. Poilievre, like most sensible Canadians, knows this to be true. We're in a financial hole and need to start digging ourselves out. As an example, Canada has built an average of 227,130 new homes annually since 2015, while the Canada Mortgage and Housing Corporation noted last month that, 'Housing starts must nearly double to around 430,000 to 480,000 units per year until 2035 to meet projected demand.' You can't let more people into Canada if there's nowhere for them to live. That's common sense, ladies and gentlemen. The solution to getting our shaky economy back under control is to follow Poilievre's suggestion and establish a hard cap on immigration levels. We need to keep immigration at a very low level for a couple of years to help get our financial house in order. Once that's been accomplished, immigration levels could be gradually increased. Not to the ridiculous numbers that Trudeau set, but a more sustainable level that allows all Canadians, including immigrants, to live, work, prosper and achieve success. National Post Jamie Sarkonak: New Liberals offer more of the same old attitude on immigration Michael Bonner: We need an immigration policy that will serve all Canadians
Yahoo
5 days ago
- Business
- Yahoo
Arnold Schwarzenegger blasts California politicians for housing crisis, calls citizens ‘economically homeless
Moneywise and Yahoo Finance LLC may earn commission or revenue through links in the content below. Former California Governor Arnold Schwarzenegger isn't mincing words about the state's escalating housing crisis. In a recent appearance on comedian Theo Von's This Past Weekend podcast, Schwarzenegger recalled that when he first arrived in California, the state's population was around 20 million. Since then, it has roughly doubled — a surge that, he argued, demanded a proportional increase in housing. Don't miss Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don't have to deal with tenants or fix freezers. Here's how I'm 49 years old and have nothing saved for retirement — what should I do? Don't panic. Here are 5 of the easiest ways you can catch up (and fast) You don't have to be a millionaire to gain access to this $1B private real estate fund. In fact, you can get started with as little as $10 — here's how 'When you go from 20 to 40 million people, then you need twice as many houses, you need twice as many apartment buildings, you need twice as much of everything, schools and everything,' Schwarzenegger said. 'They didn't take care of them because the environmentalists thought that if we say, 'no growth,' then no one will come. But in the meantime, no one gives a sh-t about that — they come anyway. Then somehow they live three people in one apartment, or five people in one apartment, workers — they sometimes live 10 people in one apartment.' He explained that with limited housing supply, prices inevitably skyrocketed. 'The unit that used to cost $600 now costs $3,000 a month. But the salaries, the wages didn't go up accordingly. So now you have people that are economically homeless — they cannot afford paying for their rent anymore, so this is created by the politicians,' he said. Hedging against the soaring cost of living California stands out for its steep housing costs. According to real estate brokerage Redfin, the average monthly rent in the state is $2,481 — substantially higher than the U.S. median of $1,642. The gap is even wider for homebuyers. Redfin data show California's median home price is $858,600, nearly double the national median of $440,910. A recent Bankrate study found that a household in California needs an annual income of $213,447 to afford a typical home in the state. Yet real estate remains a popular investment choice for those looking to hedge against rising living costs. When inflation goes up, property values often climb as well, reflecting the higher costs of materials, labor and land. At the same time, rental income tends to rise, providing landlords with a revenue stream that adjusts with inflation. Over the past five years, the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index has surged more than 50%. These days, you don't need to buy an entire property outright to benefit from real estate investing. Crowdfunding platforms like Arrived have made it easier than ever for everyday investors to gain exposure to this income-generating asset class. Backed by world class investors like Jeff Bezos, Arrived allows you to invest in shares of rental homes with as little as $100, all without the hassle of mowing lawns, fixing leaky faucets or handling difficult tenants. The process is simple: Browse a curated selection of homes that have been vetted for their appreciation and income potential. Once you find a property you like, select the number of shares you'd like to purchase, and then sit back as you start receiving positive rental income distributions from your investment. For accredited investors, Homeshares gives access to the $35 trillion U.S. home equity market, which has historically been the exclusive playground of institutional investors. With a minimum investment of $25,000, investors can gain direct exposure to hundreds of owner-occupied homes in top U.S. cities through their U.S. Home Equity Fund — without the headaches of buying, owning or managing property. With risk-adjusted target returns ranging from 14% to 17%, this approach provides an effective, hands-off way to invest in owner-occupied residential properties across regional markets. Another option is First National Realty Partners (FNRP), which allows accredited investors to diversify their portfolio through grocery-anchored commercial properties without taking on the responsibilities of being a landlord. With a minimum investment of $50,000, investors can own a share of properties leased by national brands like Whole Foods, Kroger and Walmart, which provide essential goods to their communities. Thanks to Triple Net (NNN) leases, accredited investors are able to invest in these properties without worrying about tenant costs cutting into their potential returns. Simply answer a few questions — including how much you would like to invest — to start browsing their full list of available properties. Read more: Rich, young Americans are ditching the stormy stock market — A golden alternative Real estate isn't the only asset investors turn to during times of inflation. Gold has helped people preserve their purchasing power for thousands of years. Today, the yellow metal is as relevant as ever for a simple reason: Unlike fiat currency, it can't be printed in unlimited quantities by central banks. Gold has also long been viewed as a safe-haven investment. It's not tied to any one country, currency or economy, and investors tend to pile in during times of economic turmoil or geopolitical uncertainty — driving up its value. In just the last 12 months, the price of gold has surged by 40%. Ray Dalio, founder of the world's largest hedge fund, Bridgewater Associates, recently highlighted gold's importance in a resilient portfolio. 'People don't have, typically, an adequate amount of gold in their portfolio,' Dalio told CNBC earlier this year. 'When bad times come, gold is a very effective diversifier.' One way to invest in gold that also provides significant tax advantages is to open a gold IRA with the help of Priority Gold. Gold IRAs allow investors to hold physical gold or gold-related assets within a retirement account, which combines the tax advantages of an IRA with the protective benefits of investing in gold, making it an attractive option for those looking to potentially hedge their retirement funds against economic uncertainties. To learn more, you can get a free information guide that includes details on how to get up to $10,000 in free silver on qualifying purchases. What to read next Here are the 6 levels of wealth for retirement-age Americans — are you near the top or bottom of the pyramid? This tiny hot Costco item has skyrocketed 74% in price in under 2 years — but now the retail giant is restricting purchases. Here's how to buy the coveted asset in bulk Car insurance in America could climb to a stunning $2,502/year on average — but here's how 2 minutes can save you more than $600 in 2025 Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan 'works every single time' to kill debt, get rich in America — and that 'anyone' can do it Money doesn't have to be complicated — sign up for the free Moneywise newsletter for actionable finance tips and news you can use. This article provides information only and should not be construed as advice. It is provided without warranty of any kind.
CBC
5 days ago
- Business
- CBC
Edmonton sees record boom in housing starts, according to CMHC report
Edmonton saw an 82 per cent increase in housing starts in June compared to the same month last year. According to Canada Mortgage and Housing Corporation (CMHC), the city recorded 2,689 new housing starts last month, up from 1,475 in June 2024. It was the highest number of housing starts ever recorded for the Edmonton Census Metropolitan Area (CMA) in a single month. Experts say diverse housing types and a welcoming planning environment are key to meeting the city's rapid population growth. Lyla Peter, director of development approvals and inspections for the City of Edmonton, says the sharp increase in housing starts is no surprise. "We have seen a high and sustained volume of applications for housing over the last year-and-a-half," she said in an interview. "It is a great reflection of all the work that we've been doing to continue to support housing delivery within the community." The surge includes a mix of housing types, from single-detached homes to apartments and row houses, being built both in infill areas and on the city's outskirts, said Peter. Housing starts in urban centres with populations of 10,000 or more saw a 14 per cent year-over-year increase in June, reaching 23,282 units compared to 20,509 units in June 2024. The year-to-date total also rose four per cent from the same period in 2024, now standing at 114,411. According to the CMHC, homes like single-detached and row houses — along with rental apartment starts — are driving the growth. "Year-to-date starts in Calgary are currently higher than Toronto," CMHC wrote in an email. "Edmonton trailed just Vancouver and Montreal with 2,689 actual starts in June — the most on record for the CMA." One key to Edmonton's success is its new zoning bylaw, said Peter, which supports a wider variety of housing types such as semi-detached homes, row houses, and suites. "Because we've opened up housing types across the whole community, we've created a lot of opportunity," she said. Peter said that while infill development can bring challenges to existing communities, it drives up affordability. "I do understand the concern that our community is facing when it comes to seeing their neighbourhoods change," she said. "However, one of Edmonton's greatest strengths is our housing affordability and we continue to see large population growth coming to our city." Scott Fash, CEO of BILD Alberta, also pointed to the city's ability to quickly deliver homes as a major advantage. "Through high levels of construction … we've been able to maintain our affordability, which in turn makes us more attractive to people moving here," he said. Neal Lamontagne, a professor at University of Alberta's School of Urban and Regional Planning, said the increase is partially due to migration from other provinces. "We have this housing demand, we do need the supply and we're getting that supply," he said. "If you have consistent population growth plus new permissive rules, plus constrained investment opportunities elsewhere, things are looking good for Alberta." The city of Edmonton said ongoing efforts include the implementation of an automated development permit system for low-density housing, to stay ahead of the curve in housing delivery.
RNZ News
6 days ago
- Business
- RNZ News
The big issues for Auckland's leaders
Auckland is expected significant growth in population by 2034, with another 200,000 people in the region. Photo: Stuff/Chris McKeen Auckland's rapid population growth is considered one of the key challenges for incoming council elected members, a report has revealed. The city's population is expected to jump to 2.3 million people over the next three decades, leaving questions on how Auckland Council will pay for the increased demand on services. Auckland Council's pre-election report, prepared to support the upcoming local elections, lists how leaders can best use resources for the region's future. Key issues identified were productivity and growth, infrastructure investment, asset management, climate resilience, community services and funding. Photo: Council chief executive Phil Wilson, in a statement, said the report will give Aucklanders and its future leaders greater awareness of the opportunities and challenges facing the region. "By 2034 we are projected to see an additional 200,000 Aucklanders joining our diverse community," Wilson said. "That is slightly more than Hamilton being added, in only nine years. This rapid growth brings increased demand for services and infrastructure, such as transport, water services, parks and community facilities." Auckland Council chief executive Phil Wilson. Photo: Supplied to RNZ Auckland was a vibrant and rapidly growing city, and council's elected members face some tough decisions over the next three years on how to pay for that growth on a tight budget, he said. "To accommodate this growth, we must confront the challenges our region faces, while ensuring long-term financial sustainability. "These include addressing Auckland's relatively low productivity and lifting the region's economic growth to support development." Wilson said council exists to be an effective agent for the needs and aspirations of Aucklanders, and good governance should be prioritised. "To ensure this, it's vital that people standing for roles as mayor, councillors or local board members are well-informed as to the state of the city, key challenges and the council's financial situation." Current council strategies respond to growth by integrating land use and infrastructure planning, improving transport networks and advocating with central government for greater input into policy. However, Wilson said more will be required as the council continues to plan for a projected growth of 540,000 people over the next three decades - bringing Auckland's population to 2.3 million. "To increase productivity and influence positive growth, Auckland must address long-standing barriers, including congestion, infrastructure bottlenecks and regulation. "We also want to maintain the council's sustainable financial direction where we affordably deliver the infrastructure and services Aucklanders expect, to help them live their lives better." The council estimates the need to invest $295 billion on maintaining, operating, enhancing and growing Auckland's infrastructure over a 30-year timeframe. "Unlocking the potential created by infrastructure investment is an opportunity to be considered by our elected members, including working with central government agencies and other partners to identify and maximise the opportunities. "Infrastructure investment makes up 86% of the council's total budget to 2034, so it's a significant part of decision-making for elected members." Wilson said council must also respond to greater demand on its community services and an increasingly diverse community, with equally diverse needs. The current services require further investment to ensure they remain relevant, accessible and effective in addressing the changing needs of Auckland's communities, he said. The Pre-Election Report is a legislative requirement under the Local Government Act 2002, where council chief executives must prepare a report independently of the mayor and councillors. LDR is local body journalism co-funded by RNZ and NZ On Air.
