Latest news with #supply
Yahoo
5 days ago
- Business
- Yahoo
Growing New Apartment Supply, Low Absorption Rates Bode Well for Renters, Redfin Report Shows
An increase in the supply of new apartments in the US and a low absorption rate are enabling renters Sign in to access your portfolio
Associated Press
25-05-2025
- Business
- Associated Press
Hirsch Pipe & Supply Opens Branch in Riverside, CA
Today, Hirsch Pipe & Supply is proud to announce the opening of their twenty eighth southern California location in Riverside. 'We would appreciate the opportunity to welcome you to our new store and have us be your neighborhood plumbing and HVAC supply house.'— Cesar Ruvalcaba, Riverside Branch Manager RIVERSIDE, CA, UNITED STATES, May 25, 2025 / / -- Today, Hirsch Pipe & Supply is proud to announce the opening of their twenty eighth southern California location in Riverside. The branch is located at 7555 Evans St, Riverside, CA 92504 and can be reached by phone or text at 951-379-9580. OUR COMMITMENT TO OUR CUSTOMERS Take it from Riverside Branch Manager, Cesar Ruvalcaba: 'My team and I are very excited to announce the opening of our store in Riverside. We would appreciate the opportunity to welcome you to our new store and have us be your neighborhood plumbing and HVAC supply house. On behalf of my team and I, we look forward to helping you get more jobs done in your day. ' A HISTORY OF SERVICE Hirsch Pipe & Supply was founded in 1933 on the principle that superior service makes the difference. We know you can get parts from a lot of places, so we strive to make sure that getting your parts from one source — Hirsch — is always the best choice. Along with making sure we have an amazing selection of parts in stock, we back up the selection with service. You can count on the fast help you need to get back on the job, including our 30 minute Will Call Guarantee, same-day deliveries, mobile ordering and more. Our founding commitment to quality service is still at our core today. Part of that service is convenience. Whether you're in greater Los Angeles, Orange County, Riverside, or San Diego County, there's a Hirsch location nearby. Outside of Southern California, our national sales team serves contractors and wholesalers throughout the U.S. For more information, visit our website at Hirsch has it.### Nikki Nixon Hirsch Pipe & Supply Co., Inc. +1 818-756-0900 email us here Visit us on social media: LinkedIn Instagram Facebook YouTube Legal Disclaimer: EIN Presswire provides this news content 'as is' without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
Yahoo
23-05-2025
- Business
- Yahoo
Ottawa has to allow home prices to fall to make housing more affordable, experts say
OTTAWA — Housing experts are pushing back against a federal cabinet minister's recent claim that home prices don't need to go down in order to restore housing affordability. Gregor Robertson, the former mayor of Vancouver who was elected to the House of Commons in April, sparked the debate after he was sworn in as housing minister earlier this, when a reporter asked him whether he thinks home prices need to fall. "No, I think that we need to deliver more supply, make sure the market is stable. It's a huge part of our economy," he said. Robertson added that Canada lacks affordable housing and championed Ottawa's efforts to build out the supply of homes priced below market rates. Mike Moffatt, founding director of the Missing Middle Institute, had a different answer when asked whether housing can be made more affordable for the average Canadian without a drop in market values. "The short answer is no. It's simply not possible to restore broad-based affordability to the middle class without prices going down," he said. Moffatt crunched the numbers last month on how long it would take for housing to return to 2005 levels of affordability if the average home price holds steady while wages grow at a nominal pace of three per cent annually. Across Canada, he said, it would take 18 years to return to more affordable home price-to-income ratios — while in Ontario and British Columbia it would take roughly 25 years. In B.C. and Ontario, Moffatt said, wages and home prices have become so detached from one another that it's not "realistic" to rely on wage growth to catch up to housing costs. While Moffatt said he welcomes policies that encourage more housing for vulnerable Canadians and those experiencing homelessness, efforts to build more below-market housing units won't address the "middle-class housing crisis." Days after Robertson weighed in, Prime Minister Mark Carney was asked the same question. Rather than offering a yes-or-no answer, he asserted instead that he wants "home prices to be more affordable for Canadians." He cited Liberal election campaign pledges to drop the GST on new homes and offer incentives to municipalities to cut development charges in half. The Liberals are looking to lower the cost of homebuilding with the aim of doubling the pace of housing starts in Canada. The government wants to scale up the use of prefabricated parts and other technological advances to streamline housing development. Carney said that this boost in supply would "make home prices much lower than they otherwise would be." Moffatt said he agrees that lowering the cost of homebuilding would help to make homes more affordable. In fact, he said, if the cost of building doesn't go down and if home prices stagnate or decline, development will immediately cease to be profitable for builders, causing housing starts to dry up. "I think that should be the primary focus of all three orders of government … figuring out how we can reduce the cost of home construction in order to create affordability and to lower prices," he said. Concordia University economist Moshe Lander agrees with Moffatt that home prices must come down if the government hopes to see broad affordability restored to the market over the next generation. But he also questions whether the federal government should be the arbiter of housing affordability in the first place, given that so many of the political decisions are out of its control. Lifting regulatory barriers to boosting supply is largely a matter for provincial and municipal governments, as are efforts to encourage more students to develop skills in the trades. "And so for the federal government to say, 'We're going to try and incentivize this,' I think they're going miss the mark in whatever they're trying to do because really, at the end of the day, it's not their issue," Lander said. Lander said he also understands why politicians of all stripes are reluctant to come out in favour of lowering home prices. Any explicit government effort to bring down housing prices down would be seen as an attack on homeowners' equity — an asset many use to fund retirements or other long-term savings as they pay off their mortgages. "Homeowners will not accept it," Lander said. "And you risk alienating a very sizable and influential voting bloc." At the local level, he said, politicians tend to seek the support of homeowners because — unlike renters — they tend to stay put in a riding or district. Lander said that most efforts to win renters' votes tend to be "tepid" at best and "counterproductive" at worst. Policies that target the demand-side of the equation — helping Canadians become homeowners — tend to put upward pressure on home prices at the same time, he said. Lander said part of the path to affordable housing has to be a shift away from the narrative that Canadians have been fed for generations — that home ownership is a lofty goal to aspire to and renters are "second-class citizens." "I don't think that we're being clear with society that this is what that might look like," he said. This report by The Canadian Press was first published May 23, 2025. Craig Lord, The Canadian Press
Wall Street Journal
23-05-2025
- Business
- Wall Street Journal
Oil Falls, Dragged by Fears of Rising Supply
0009 GMT — Oil falls in the early Asian session, dragged by fears of rising supply. Bloomberg reported that OPEC+ is mulling a possible increase in output of 411,000 barrels a day in July, ANZ Research analysts say in a research report. This would be third consecutive month that the group has agreed to triple the initially scheduled amount, the analysts say. No final agreement has been reached yet, with this option being one of many being discussed, the analysts add, citing the media report. Front-month WTI crude oil futures are 0.6% lower at $60.83/bbl; front-month Brent crude oil futures are 0.5% lower at $64.09/bbl. (
BBC News
21-05-2025
- Climate
- BBC News
Sussex residents left without supply after South East Water works
A water company has apologised to customers left without supply due to routine maintenance to a in some parts of West Sussex said they had been left without water or with an intermittent supply since Dean, head of operations in Sussex for South East Water, apologised to those in Balcombe and Hassocks who had been Cross, 47, from Balcombe, said she first noticed issues with her supply on Friday. She told BBC South East she had been collecting bottled water from the village's social club, having not had "proper, consistent running water" since a husband, daughter and two dogs at home, she said they were "lucky" to have transport to be able to collect an ironing business from her home, Ms Cross said she was worried not just for residents but also for small businesses in the also raised concerns about the updates coming from the water company."Communication is key, this is where South East Water have let themselves down," she said."We just want to be told what is going on."Residents on social media ranged from reporting they had "just a trickle" to being "completely out" of Dean said the company was also aware of issues for properties near Paddockhurst Lane and was doing everything it could to provide these customers with water as soon as possible. There had been issues since a service reservoir was taken out of supply for routine maintenance on Friday, he said."South East Water has been sending tankers to the area to inject the mains pipes with water since Friday evening and will continue to do so until the supply has returned to normal," he added."Most customers should now be back in supply and the water pressures in the area have stabilised as we continue to use the tankers to inject water directly into our network."
