Q&A: WHAT IS THE DISPUTE ABOUT?

first_img whatsapp Q.WHY ARE WORKERS STRIKING?A.London Underground staff, as represented by unions RMT and TSSA, are striking against proposals by London Mayor Boris Johnson and Transport for London (TfL) to cut up to 800 station jobs, including ticketing staff and station management in a bid to save the cash-starved network from a series of government funding cuts.Q.HOW WILL THE CUTS HIT UNDERGROUND WORKERS?A.TfL has said that it plans to reduce the number of operational hours at Underground ticketing offices by nearly 7,500 a week across the network. TfL has said that at some stations, including Latimer Road and North Ealing, ticket offices sell less than 10 tickets an hour, while only one in 20 Underground journeys begin at a ticketing office. TfL said this is a result of the Oyster card programme. Q.SO WHY ARE THE UNIONS UNHAPPY?A.RMT and TSSA have argued that the proposed cuts are now a safety issue as ticketing staff not only sell tickets but also provide assistance to passengers. The unions have also argued that a brightly lit ticketing office provides a safe haven to passengers, especially for women who are travelling on the underground network, at night or when few people are around. Q.ARE JOB CUTS THE ONLY ISSUE?A.Not entirely. On Sunday evening at 7pm, over 200 Alstom-Metro workers left their posts to strike for 24 hours. The train engineers, who service the Northern and Jubilee Lines are disputing pay levels. The RMT voted against a proposed two per cent pay increase for Alstom staff, but the company called the proposals “fair and reasonable” in the current financial climate. Engineers plan to strike on 2 October, 1 November and 27 November. RMT said this first strike would be “rock solid”. KCS-content Q&A: WHAT IS THE DISPUTE ABOUT? Share Show Comments ▼ Tags: NULL Monday 6 September 2010 8:37 pm More From Our Partners A ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgUK teen died on school trip after teachers allegedly refused her pleasnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comConnecticut man dies after crashing Harley into live bearnypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.com whatsapplast_img read more

King insists a rise in rates is not imminent

first_img Show Comments ▼ Tags: NULL MERVYN King yesterday tried to play down expectations that the Monetary Policy Committee (MPC) would imminently start raising interest rates to curb inflation, insisting that it would be a “futile gesture”. Unveiling the Bank of England’s quarterly Inflation Report, in which it lowered its forecast for economic growth this year from 2.6 per cent to around two per cent and confirmed that inflation could reach five per cent before June – more than double its two per cent target for the consumer prices index (CPI), the governor said that people were “running ahead of themselves in saying we are pre-announcing, or laying the ground, for a rate rise.”Despite King’s protestations, economists yesterday said the growth forecasts contained in the report indicated a hike in just three months’ time in May. Under the Bank’s “central projection”, which King stressed was not a “pre-announcement” of policy, rates will rise a quarter point to 0.75 per cent in the next four months and to one per cent by the end of the year. By the end of 2012, rates will be at two per cent and at three per cent by the end of 2013. “The Inflation Report projects that inflation is as likely to be above target as below target 2-3 years ahead and does imply that the MPC is likely to hike rates soon, in the next few months, unless there are major disinflationary surprise,” said Michael Saunders at Citi. Economists at both RBS and Barclays brought forward their rate rise expectations to May after the report. Nomura economist Philip Rush said that King’s personal scepticism about the urgency of action to tackle Britain’s above-target inflation may lie behind the divergence in tone between the Inflation Report and his own comments downplaying a rise. “The forecasts are the MPC’s collective judgment, whereas what King says often seems to verge off more to his dovish stance,” he added. The Inflation Report confirmed the divisions on the rate-setting Monetary Policy Committee, saying there was a “wider than usual range of views” on both growth and inflation. Economists interpreted the disclosure as evidence that Andrew Sentance and Martin Weale have been joined by at least one other MPC member in calling for a rate hike.BANK OF ENGLAND INFLATION REPORT – MAIN POINTS”True clothing prices were around 5.5 per cent higher than measured in the CPI, equivalent to adding around 0.3 per cent to aggregate annual CPI inflation” Share whatsapp In two years inflation is likely to fall below the Bank’s target rate — if interests rates rise.l The forecast is based on interest rates increasing to 2.1 per cent by the end of 2011.“There is a high degree of uncertainty, and a wider than usual range of views among committee members around the overall look for inflation Wednesday 16 February 2011 8:43 pm King insists a rise in rates is not imminent KCS-content whatsapplast_img read more

NicozDiamond Insurance Limited (NICO.zw) HY2011 Interim Report

first_imgNicozDiamond Insurance Limited (NICO.zw) listed on the Zimbabwe Stock Exchange under the Insurance sector has released it’s 2011 interim results for the half year.For more information about NicozDiamond Insurance Limited (NICO.zw) reports, abridged reports, interim earnings results and earnings presentations, visit the NicozDiamond Insurance Limited (NICO.zw) company page on AfricanFinancials.Document: NicozDiamond Insurance Limited (NICO.zw)  2011 interim results for the half year.Company ProfileNICOZDIAMOND Insurance provides short-term insurance solutions for the personal, business and commercial sectors. The personal insurance and all-risk portfolios cover private households aswell as all outbuildings, pool pumps, gates and walls, and extended to cover movable content in private dwellings, motor vehicle insurance for private-use vehicles with a carrying capacity of over 2-tons and used for private purposes, jewelry, cameras, mobile phones, sports equipment, bicycles, spectacles and mobile devices. The company was established in 2002 with the merger of National Insurance Company of Zimbabwe and Diamond Insurance Company; it operates in three countries (Zimbabwe, Uganda and Malawi); has consistently received A-rating status from the Global Credit Rating Company in South Africa; and is one of the few short-term insurance companies in Zimbabwe to hold an ISO certification from the Standards Association of Zimbabwe. Nicoz Diamond Insurance Limited is listed on the Zimbabwe Stock Exchangelast_img read more

I think this new contract is positive news for BAE Systems

first_img I’m sure you’ll agree that’s quite the statement from Motley Fool Co-Founder Tom Gardner.But since our US analyst team first recommended shares in this unique tech stock back in 2016, the value has soared.What’s more, we firmly believe there’s still plenty of upside in its future. In fact, even throughout the current coronavirus crisis, its performance has been beating Wall St expectations.And right now, we’re giving you a chance to discover exactly what has got our analysts all fired up about this niche industry phenomenon, in our FREE special report, A Top US Share From The Motley Fool. I would like to receive emails from you about product information and offers from The Fool and its business partners. Each of these emails will provide a link to unsubscribe from future emails. More information about how The Fool collects, stores, and handles personal data is available in its Privacy Statement. I have long been a fan of BAE Systems (LSE: BA). While perhaps not a headline grabbing company most of the time, I think it is a solid performer. News today confirming its role in a £1.3bn contract to produce Eurofighters has only solidified this image for me.German jet planesLast week the German parliament signed off on buying 38 Eurofighter Typhoon jets for Germany’s air force. The £1.3bn contract is awarded to a consortium, of which BAE Systems is a key player. Specifically, BAE will produce the front fuselage and tails. Work begins in 2021.5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…And if you click here we’ll show you something that could be key to unlocking 5G’s full potential…Though the German contract will add money to BAE’s coffers, it is also indicative of a more positive trend. The Typhoo aircraft were chosen over their US rivals — the F-35 produced by Lockheed Martin.This is an important trend for BAE Systems. Typhoons are key to the company’s finances as it develops the next generation fighter in its Tempest programme. Seeing continued demand for these over the newer F-35 is positive for BAE in the long term.According to CEO Charles Woodburn, this latest contract “reinforces the aircraft’s position as one of the world’s most successful combat military aircraft”. Anyone invested in BAE Systems should hope this stays the case.Production of the Typhoons is also adding to the technologies behind the new Tempest programme, which is set to go into production around 2035. Things such as 3D printing are being used now to enhance current production measurers.In fact earlier this year BAE set targets for 30% of Tempest components to be produced by 3D printing. It also said 50% will be put together by robots. These lower-cost technologies will help secure the company’s bottom line for many years to come.BAE Systems has government backingOne of the major positives I see with BAE Systems as an investment, is the positive attitude the government has towards it. Selfishly for them of course, given the importance of the company to the UK economy.The Typhoon alone is one of the UK’s most important exports. About 87% of defence exports come from the combat air industry alone. According to BAE, the Typhoon has returned more than double the UK’s original £12bn investment.With a potential recession looming, the government has even greater incentive to support the company. BAE Systems employs more than 5,000 people on the Typhoon programme alone in the UK. It supports another 10,000 jobs indirectly.Not only will this latest contract help secure this, but most of the production will take place in the north of England. For the current government, this is a politically insecure region. They will be keen to support a company that brings jobs to the north.It is also worth noting that BAE is a steady dividend payer. While its share price is down from the peak earlier this year, its current yield is about 4.8%. This is a nice level for such an established firm.For me, BAE Systems seems a prime example of a solid, long-term investment. It has a strong brand globally, and doesn’t make headlines or rock the boat. BAE has government support for economic and political reasons and just goes about its business earning money. It’s my kind of share. “This Stock Could Be Like Buying Amazon in 1997” Karl Loomes | Thursday, 12th November, 2020 | More on: BA Click here to claim your copy now — and we’ll tell you the name of this Top US Share… free of charge! Renowned stock-picker Mark Rogers and his analyst team at The Motley Fool UK have named 6 shares that they believe UK investors should consider buying NOW.So if you’re looking for more stock ideas to try and best position your portfolio today, then it might be a good day for you. Because we’re offering a full 33% off your first year of membership to our flagship share-tipping service, backed by our ‘no quibbles’ 30-day subscription fee refund guarantee. I think this new contract is positive news for BAE Systemscenter_img Our 6 ‘Best Buys Now’ Shares Karl has shares in BAE Systems. The Motley Fool UK has no position in any of the shares mentioned. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. Image source: Getty Images. Enter Your Email Address Simply click below to discover how you can take advantage of this. See all posts by Karl Loomeslast_img read more

Most US non-profits still don’t use single donor database, says survey

first_img About Howard Lake Howard Lake is a digital fundraising entrepreneur. Publisher of UK Fundraising, the world’s first web resource for professional fundraisers, since 1994. Trainer and consultant in digital fundraising. Founder of Fundraising Camp and co-founder of GoodJobs.org.uk. Researching massive growth in giving. Most US non-profits still don’t use single donor database, says survey The informal survey was conducted by Kintera Inc. via their website at www.kintera.com. More than 250 individuals responded to the web poll.“While there are still nonprofits that continue to use two or more databases, our experience with customers over the past years indicate that the concept of a single, unified database for contact information is gaining popularity in the sector,” said Dr. Harry Gruber, CEO of Kintera. He added: “with an online, unified database, an organization can look at a holistic view of each consumer’s activities and interact real-time with targeted and personal information, ultimately creating a powerful giving experience.” Howard Lake | 13 September 2004 | News  21 total views,  1 views today AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThiscenter_img AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis Tagged with: Digital Research / statistics Technology A survey of American non-profits by online fundraising service provider Kintera has found that a majority of organizations continue to store information on donors and volunteers in several places instead of unifying contacts into a single, online database.Of those surveyed, 46% of the respondents reported that their organizations are using two or more databases to store donor and supporter information for online use, while 25% said they are not currently using a database for this information at all.Only 29% of those surveyed said that they rely on one online database for this purpose. Advertisementlast_img read more

Teenage Cancer Trust and USC announce major fundraising partnership

first_img Howard Lake | 10 November 2008 | News AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis Steve Jones and Miquita Oliver have given their support to Teenage Cancer Trust to help spread the word – and the love – on a major new national fashion-based fundraising campaign, USC LOVES TCT.The T4 duo are the first in a line of celebrities to support the ‘USC LOVES TCT’ campaign. The initiative is being brought to the high street by leading fashion retailer USC to help raise funds for brand new hospital units for Teenage Cancer Trust.The innovative snap-on sweatbands will go on sale for £2.50 in USC’s 57 stores throughout the UK as part of the first phase of fundraising. Every penny of profit raised will go to Teenage Cancer Trust.Each day in the UK six teenagers find out they have cancer – over 2,000 diagnoses a year. Teenage Cancer Trust builds specialist units in NHS hospitals so that young people don’t have to be treated on children’s wards or with the very elderly. Patients treated on the units say that being around other young people in an environment appropriate to their age makes a huge difference to their recovery.Miquita Oliver said: “I’m proud to be involved with USC LOVES TCT. Teenage Cancer Trust is an amazing charity that brings teenagers and young adults with cancer together at a tough time in their lives. I can remember only too well how hard being a teenager can be, but to have to deal with a cancer diagnosis too must completely turn your world upside down. By buying one of these wristbands you’ll be helping Teenage Cancer Trust to build brand new specialist units where teenagers can be treated together, improving their experience and helping them to survive.”Miquita’s co-presenter Steve Jones adds: “I’m sure being diagnosed with cancer as a teenager is a scary and isolating experience. Teenage Cancer Trust understands this and that’s why they build special units in NHS hospitals where teenagers are treated alongside people their own age. They can do everything that normal teens do and most importantly they can support each other and know that they’re not alone. So go on, buy a wristband and show some love.”A little bit rock’n’roll, a little bit breakdance a little bit ‘off duty tennis pro’ the USC LOVES TCT snap-on towelling wristbands are destined to be this season’s cult must-have accessory. USC is renowned for its forward-thinking approach to fashion and hopes the design will appeal to its style-savvy shoppers. The wristband can be bought either online at www.usc.co.uk or in any USC store in the UK.Lucy Jackson, Director of Communications at Teenage Cancer Trust, said “We’re really excited to be working with USC and are hugely grateful to have Steve and Miquita on board promoting the snap wristband for us. All funds raised will go towards building desperately needed hospital units for teenage cancer patients. We have lots of activity planned over the next 24 months and we’re already looking forward to rolling-out the next innovative USC LOVES TCT project.”Jo Bohling, brand director at USC, has been the driving force behind the campaign and plans to roll out activity across all its stores to help raise funds. He said: “We will be pulling out all the stops to raise as much money as possible for Teenage Cancer Trust. Steve and Miquita are ideal ambassadors for the launch and we hope that everyone gets behind this and shows their support by wearing the snap wristbands.“The work carried out by Teenage Cancer Trust is of enormous importance and every penny we can raise will go some way towards making their goal of providing more teenage cancer units a reality. We’ now that if we all pull together we can make a real difference to the lives of young people affected by cancer.”EndsNotes to editor:For more information, product shots or images of Steve and Miquita sporting their sweatbands, please contact Stephanie Westacott, Teenage Cancer Trust, 020 7612 0714 [email protected] Cancer TrustEvery day in the UK, six teenagers will face a cancer diagnosis. This is a rising figure and there are already more young people than children with the disease.Teenage Cancer Trust understands that teenage cancer requires specialist care and knows that young people have a much better chance in their fight against cancer if they are treated by teenage cancer experts, in an environment tailored to their needs. So the charity is working every day to make that happen, building specialist units in NHS hospitals.Teenage Cancer Trust units aren’t like ordinary cancer wards. Everything about them has been designed to give teenagers the very best chance of a positive outcome. The charity estimates that, with the units they currently have around the UK, four out of 10 teenagers diagnosed with cancer now have access to the dedicated, specialist support they provide. But Teenage Cancer Trust’s aim is to build enough units so that, by 2012, every teenager will be treated on one.For more information visitwww.teenagecancertrust.orgTeenage Cancer Trust is a registered charity, no. 1062559USCThe first USC store opened in Edinburgh in 1989. The company has developed rapidly rolling out the USC concept to prime city centre locations throughout Scotland, the Midlands, the South of England and Northern Ireland. In May 2004, USC was acquired by West Coast Capital.USC is an award-winning company which currently employs over 1,200 staff across the UK. Teenage Cancer Trust and USC announce major fundraising partnership Tagged with: corporate About Howard Lake Howard Lake is a digital fundraising entrepreneur. Publisher of UK Fundraising, the world’s first web resource for professional fundraisers, since 1994. Trainer and consultant in digital fundraising. Founder of Fundraising Camp and co-founder of GoodJobs.org.uk. Researching massive growth in giving.  32 total views,  1 views today AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThislast_img read more

NSPCC launches Call for Help campaign to handle increased December calls

first_imgPhotography by Alex Hansen. The child pictured is a model.  Advertisement NSPCC launches Call for Help campaign to handle increased December calls Howard Lake | 20 November 2014 | News  40 total views,  1 views today AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis About Howard Lake Howard Lake is a digital fundraising entrepreneur. Publisher of UK Fundraising, the world’s first web resource for professional fundraisers, since 1994. Trainer and consultant in digital fundraising. Founder of Fundraising Camp and co-founder of GoodJobs.org.uk. Researching massive growth in giving.center_img Tagged with: christmas NSPCC sms The NSPCC has today launched its Call for Help campaign to help its ChildLine service respond to the anticipated rise in the volumes of calls from children and young people in December and over Christmas.In December 2013 trained ChildLine counsellors carried out almost 23,000 counselling sessions. The most common reason (13% of all sessions) for contacting ChildLine was family relationship issues, from worries relating to parents separating to wanting to leave home after family arguments.In the same month over 1,600 children and young people contacted ChildLine feeling suicidal, a 38% increase on December 2012. Similarly there was a 36% increase in counselling sessions on the subject of low self-esteem and unhappiness.Not surprisingly, for many, Christmas Day is a particularly difficult time. ChildLine reported a 24% increase in the number of counselling sessions on Christmas Day 2013 compared to December 2012.The NSPCC Call for Help campaign invites people to text HOPE to 70744 to donate £4. It aims to raise £930,000.Director of ChildLine, Peter Liver, explained the reason behind the NSPCC’s Call for Help appeal. He said:“This year, hundreds of ChildLine counsellors will be spending Christmas Day not with their families, but seeing the other side of the festive season. We’ll be talking to children and young people for whom Christmas can be a truly miserable time, listening to them, providing advice and support and being there for them when they can’t talk to anyone else about what they’re going through.“It’s no exaggeration to say that ChildLine really could be the difference between life and death for some children this Christmas”.The NSPCC’s ChildLine service is free, confidential, and operates 24-hours a day, and will be open throughout the festive season.Texts cost £4 plus one standard network message charge, and you must have the bill payers’ permission to use this service. The NSPCC expects to receive approximately £3.99 per message depending on your network. AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThislast_img read more

Rally assails police killings in California

first_imgOver 50 family members of Black and Latino youth killed by Long Beach and Anaheim police departments and their supporters rallied on Feb. 28 in Long Beach to challenge this epidemic. Organized by the Young Survivors-Legacy Support Network and Black Lives Matter LBC, the event brought together mothers, sisters, girlfriends, children, dads, best friends and cousins of over half a dozen people killed by local police over the last two years.The rally focused on many police killings, highlighting the recent case of Noel Aguilar, who was killed by Los Angeles County Sheriff’s Deputies on May 26, 2014, in the city of Long Beach — which is outside their jurisdiction. The event announcement read, “According to several eyewitness accounts, Noel was in handcuffs at the time he was shot, executed by a deputy in a homicidal rage. Noel’s family and friends immediately rose up to protest his killing, which came a year after (and in the same neighborhood as) the extrajudicial murder of his best friend, Jesse Delgadillo, April 28, 2013, by the LBPD.”Aguilar’s mother, girlfriend and two children were at the rally carrying a banner demanding justice. Loud chanting and marching continued for over three hours.FacebookTwitterWhatsAppEmailPrintMoreShare thisFacebookTwitterWhatsAppEmailPrintMoreShare thislast_img read more

Plan to provide funding for residential estates in Limerick

first_imgEmma Langford shortlisted for RTE Folk Award and playing a LIVE SHOW!!! this Saturday Linkedin Advertisement TAGSChristy McInerneyFianna FáilMusic Limerick WhatsApp Twitter Celebrating a ground breaking year in music from Limerick Print Email #HearThis: New music and video from Limerick rapper Strange Boy center_img NewsPoliticsPlan to provide funding for residential estates in LimerickBy Alan Jacques – May 8, 2014 671 RELATED ARTICLESMORE FROM AUTHOR Previous articleSafety concerns in Limerick over Ahane roadNext articleMinister urged to ban posters for next election in Limerick Alan Jacqueshttp://www.limerickpost.ie #SaucySoul: Room 58 – ‘Hate To See You Leave’ Facebook Watch the streamed gig for Fergal Nash album launch Decision to enter Phase 4 of reopening Ireland deferred to August 10 Christy McInerneyRESIDENTIAL estates in Limerick should be provided with a new source of funding over the next five years to tackle local issues.A scheme, proposed by City North local election candidate Christy McInerney, would see up to 10 per cent of the total local property tax paid in each estate “ring-fenced” for essential works that are required in each area.Sign up for the weekly Limerick Post newsletter Sign Up The Fianna Fáil hopeful believes this funding would help tackle key issues such as poor lighting, removal of graffiti, road maintenance and the upkeep of green areas.“The scheme would enable local resident committees apply for funding to tackle the key issues in their area. It would include the likely cost, the proposed suppliers subject to a tender process and the feedback from local residents on why they want these issues tackled,” he explained.He also envisages a localised capital programme for residential estates similar to the Sports Capital Grant Scheme to address problems that resident associations do not have funding from the local authority to tackle.“The basic premise of the plan is that the substantial property tax, which these estates will be paying in 2014, should be used to service the very areas it is collected from. I believe that we need to look at politics at every level from a new perspective and approach what we as public representatives want to achieve in a different way,” he said.last_img read more

How Aging in Place Is Restricting Young Homebuyers

first_img Servicers Navigate the Post-Pandemic World 2 days ago About Author: Donna Joseph Home / Daily Dose / How Aging in Place Is Restricting Young Homebuyers Servicers Navigate the Post-Pandemic World 2 days ago Seniors who are aging in place hold 1.6 million housing units off the market, according to the February Insight, released by Freddie Mac on Wednesday. The report sheds light on today’s housing shortage and pointed out that senior choosing to age in place is a key factor contributing to it. This has also been identified as a significant barrier to young adults buying their first homes. “We estimate that approximately 1.6 million more senior households are staying in place than would have been the case if they had behaved like previous generations of homeowners,” said Sam Khater, Chief Economist at Freddie Mac. “For scale, 1.6 million units is roughly the same as the number of new single-family and multifamily housing units built each year, and it represents more than half of the current shortfall of 2.5 million housing units that we estimated in our December Insight.”Khater also indicated that the additional demand for homeownership from seniors will increase the relative price of owning vs renting, “making renting more attractive to younger generations.” “This further highlights the importance of addressing barriers to the production of new housing supply to help accommodate long-term housing demand,” he added. Among the key highlights of the report, seniors born after 1931 were found to be staying in their homes longer leading to higher homeownership rates for this group compared to previous generations. Freddie Mac estimates that 1.1 million existing homes have been held off the market through 2018 by those born between 1931 and 1941. Another 300,000 units are being held off the market by those born between 1942 and 1947, per the report estimates. Baby Boomers born between 1948 and 1958 hold another 250,000 off the market, the report revealed. Quoting data from the Urban Institute, the report stated that 3.4 million millennials are missing out on homeownership. The projection is that the trend of seniors aging in place will continue to record an increase, as both the number of seniors increases and the barriers to aging in place are reduced. Community satisfaction and quality of life were cited as the two reasons keeping senior homeowners in a particular place. Read the full report here. Sign up for DS News Daily Tagged with: Freddie Mac housing shortage Sam Khater Senior Homeownership How Aging in Place Is Restricting Young Homebuyers Share Save Previous: Wells Fargo Gives Homebuyers a LIFT Next: Shedding Light on Reconstruction Costs Donna Joseph is a Dallas-based writer who covers technology, HR best practices, and a mix of lifestyle topics. She is a seasoned PR professional with an extensive background in content creation and corporate communications. Joseph holds a B.A. in Sociology and M.A. in Mass Communication, both from the University of Bangalore, India. She is currently working on two books, both dealing with women-centric issues prevalent in oppressive as well as progressive societies. She can be reached at [email protected] Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago Subscribe The Week Ahead: Nearing the Forbearance Exit 2 days ago Related Articles Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago  Print This Post in Daily Dose, Featured, Market Studies, News, Servicing February 6, 2019 4,358 Views Freddie Mac housing shortage Sam Khater Senior Homeownership 2019-02-06 Donna Joseph The Best Markets For Residential Property Investors 2 days agolast_img read more

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