Exchange Club Seeks Nominees for Book of Golden Deeds Awards

first_imgThe Exchange Club of Ocean City NJ requests nominations of outstanding area citizens or organizations as candidates for its 51st annual Book of Golden Deeds Award.  Since 1966, the Exchange Club of Ocean City has annually recognized citizens or organizations for their exemplary service to the community. Nominations are open to the public, with a winner chosen by the committee of Exchangites.  The honoree will be honored at the annual Golden Deeds dinner on May 9, 2016.Nominations forms should be completed and mailed to: John LaRosa, Exchange Club of Ocean City, P.O. Box 657, Ocean City, NJ 08226 or via email: [email protected]  Deadline to enter is April 11, 2016.For additional information or to download a nomination form, please visit Exchange Club of Ocean City website www.ocxc.orgABOUTThe Exchange Club of Ocean City, NJ was formed on May 20th, 1947, and is a local chapter of National Exchange Club – the oldest service organization in the country.  The Mission of the Exchange Club is to inspire communities to become better places to live.last_img read more

Rage Against The Machine Members Confirm New Supergroup, First Performance Tonight

first_imgUpdate (Watch Here): Watch Rage Against The Machine, Public Enemy & Cypress Hill Members Debut As Prophets Of RageWhat started out as a hopeful Rage Against The Machine reunion has blossomed into something new and exciting, as today band members confirmed reports of a new supergroup called Prophets Of Rage. The band features three of the four RATM members, including Tom Morello, Tim Commerford, and Brad Wilk, with Public Enemy’s Chuck D and Cypress Hill’s B-Real.Tonight, the intimate Whisky-A-Go-Go club in Los Angeles, CA will host the first-ever Prophets of Rage concert, and the counter on the band’s new website is counting down to a new announcement coming in just a few days. The site also gives a mission statement for the band, saying “We can no longer stand on the sidelines of history. Dangerous times demand dangerous songs. It’s time to take the power back.”A larger report from Rolling Stone shares more information, including planned setlists that feature songs from Rage Against The Machine’s, Public Enemy’s and Cypress Hill’s catalogs. Wilk says, “The setlist is pretty evenly split between the three groups. We’re also playing a couple Prophets of Rage songs. We’re doing some writing, but I don’t want to give too much away.”B-Real commented on the setlist, saying “We’re going to surprise people with how we put this all down. There are so many Rage songs that I love, but I think everybody’s favorite is “Bulls on Parade.” It just has a tremendous amount of energy. At this point, it’s hard to pinpoint what the setlist will be, what will make the cut and what won’t. We’re having fun in the process.”Commerford explains the band’s origins as well, as he’s quoted as saying, “I’m gonna credit Tom Morello with the origin of the idea. He asked me if I was into it. He was the spearhead. When he gets his head wrapped around something it’s like a mental python.”Morello added, “It all happened pretty organically. We’ve been friends for a long time. It’s not like we went on YouTube and auditioned someone who could do a convincing version of “Bullet In The Head.” That wasn’t it at all. We’ve been musical comrades for a very long time. We’ve had a tremendous amount of respect for each other musically and politically. They’re my idols and friends. I called up Chuck D. I think I texted B.”Commerford also talks about Zack de la Rocha’s absence from the project, saying he spoke to “Zack and got his blessing, and that’s really great. We’re a family and there’s support across the board. I support him and everything he does, and vice versa. I’ve definitely been keeping him in the know. You’re never going to replace Zack, and we aren’t trying to do that. He’s a unique artist and showman. It’s going to take people that I know he looks up to and that he idolizes and that he’s inspired by. We’re going to plug them in and see what they can do with these songs, because at the end of the day it’s all about the songs. The songs are needed right now, they really are. This is gonna be some cool shit.”Morello does a nice job of summarizing the band and its purpose. He gets the last line in the article, saying, Prophets of Rage combines the sonic power of Rage, Public Enemy and Cypress Hill. It’s my contention that we can no longer stand on the sidelines of history. Dangerous times demand dangerous songs. Both Donald Trump and Bernie Sanders are both constantly referred to in the media as raging against the machine. We’ve come back to remind everyone what raging against the machine really means. It’s a voice that’s been missing too long in the national/international dialogue and it’s back. What better place than here? What better time than now?”You can read more about the new group here.last_img read more

Covid-19: RVP and son Shaqueel showcase impressive skills

first_imgRobin van Persie has been making the most of the coronavirus lockdown by teaching his son a few of his old tricks. The former Arsenal and Manchester United star has been spending his time in isolation taking part in Q&As and he has now taken himself back out onto the pitch. In a video posted to Instagram, Van Persie can be seen lining up on an all-weather pitch at his home with 13-year-old Shaqueel, before the pair of them embark on a rehearsed footwork drill. Robin Van Persie and son Shaqueel making best use of the lockdown The pair, for the most part, managed to keep it synchronised, with Van Persie Jr able to keep up with his old man. Along with the post, the 36-year-old wrote: ‘We’re not the best dancers but put a ball at our feet and… [smugface emoji].Advertisement Loading… ‘Having some fun with Shaqueel van Persie in the garden. Stay safe everyone.’ It has been a busy period for the ex-Holland international, who answered questions about his time at Old Trafford on Tuesday. One story he told about Sir Alex Ferguson caught the eye, as he revealed the wrath two players faced from the Scotsman in the aftermath of heading on an ill-advised night out. Van Persie told SoFoot: ‘The day after the game Sir Alex had photos put up on the dressing room wall of the two players taken during their night out. ‘He told the entire squad: “Boys, if we don’t win the league it’s because of these two a***holes who opted to go out”. Read AlsoPremier League clubs,PFA at loggerheads over pay-cuts ‘I know the names, but can’t reveal them. The manager slaughtered them. It was amazing. He’d put up photos documenting where they were, at 2am, 3am, 4am etc, to underline just how stupid they had been.’ FacebookTwitterWhatsAppEmail分享 center_img Promoted ContentBirds Enjoy Living In A Gallery Space Created For ThemBest & Worst Celebrity Endorsed Games Ever Made7 Universities Where Getting An Education Costs A Hefty PennyCan Playing Too Many Video Games Hurt Your Body?Couples Who Celebrated Their Union In A Unique, Unforgettable WayTop 7 Best Car Manufacturers Of All TimeBest Car Manufacturers In The World8 Things You Didn’t Know About CoffeeWho Is The Most Powerful Woman On Earth?Who’s The Best Car Manufacturer Of All Time?5 Of The World’s Most Unique Theme Parks2020 Tattoo Trends: Here’s What You’ll See This Yearlast_img read more

FIBA Women’s EuroBasket: Top 5 Players

first_imgThe FIBA Women’s EuroBasket All-Star Five of Temi Fagbenle, Astou Ndour, Marta Xargay, Sonja Petrovic and Sandrine Gruda will quite rightly receive all the plaudits from FIBA Women’s EuroBasket, but there are players behind their respective country’s successes that sometimes go overlooked. While the games might have ended in Serbia after a successful tournament, there are players whose performances will be remembered, even if they are not mentioned by the history books in the same way as the aforementioned talents. During her early years in the British program, the team need Joey Leedham-Warner to be a scorer.  She is perfectly able, and helped the likes of CCC Polkowice to a Polish league title last season while scoring 9 points per game with 6 rebounds and 3 assists. Even at EuroBasket this year, she managed 11 points per game, but her worth comes from being the “whatever-it-takes” leader that this British unit needs.The roster sometimes struggled against taller teams and Leedham-Warner took on point guard duties in some line-ups. As a consequence, she averaged 4.7 assists during the tournament and always she out-bodied some of the scariest rebounders in EuroBasket tonfinish in the top 10 in rebounding at 7.7 per game.It was her heart that earned Leedham-Warner a place with this selection team. When her team was looking deflated during a frustrating second-half blowout in the bronze medal game against France, the British captain came off the bench and shouted “come on” while stepping on to the court and got her teammates to pick up their heads and go down fighting. Diving on the floor for loose balls, getting steals that led to fast-break layups, beating out bigger players for rebounds, Leedham-Warner showed exactly the kind of heart that helped her nation rise beyond expectations. Forward: Jelena Brooks – Serbia The good-stats-bad-team players sometimes go overlooked in basketball culture, but when someone puts up the great numbers that Alina Iagupova managed for Ukraine – not a terrible team but in a difficult group comprising Spain, Britain and Latvia – you have to take notice. In the first of her country’s three games in the opening round, Iagupova poured in 38 points against the elite defensive unit of Spain – a team that kept Russia’s Maria Vadeeva to 6 points in the quarterfinals. But it’s not just scoring. In the game against Latvia, Iagupova scored 28, grabbed 8 rebounds and handed out 7 assists in a tough loss. She followed this up with 21 and 7 against Britain to finish with averages of 29 points, 7 rebounds, 6 assists as well as 3.3 steals. It’s a shame we couldn’t see more of Ukraine, but EuroLeague fans can see her in Turkey with Cukurova Basketbol where she led the team in scoring and assists last season. Point guard: Olivia Epoupa – France https://images.daznservices.com/di/library/sporting_news/12/fe/joey-leedham-warner-fiba-gb_e2u7j46qoksb1qdlzuyf6ugoc.jpg?t=-689513573&w=500&quality=80 Small she may be, but she be fierce. Olivia Epoupa refused to be overlooked despite her diminutive stature at EuroBasket. Standing at just 5’5, the French point guard was almost always the shortest player on the court, but she made up for it in speed, strength and leaping ability – often out-jumping opposition centers and even her own elite rebounding teammate Sandrine Gruda.Her physicality helped a young France team compete further in the tournament than some had previously expected, and while she struggled during the final against an elite Spanish defense that had likely scouted her, the 8.3 points, 6.2 rebounds and 5.3 assists in Serbia will have put the 25-year-old on the map for bigger contracts and maybe in stronger leagues – especially for those WNBA fans and scouts who tuned in to France’s games to watch Bria Hartley and Marine Johannes of the New York Liberty. Center: Emma Meesseman – Belgium https://images.daznservices.com/di/library/sporting_news/fe/6e/emma-meesseman-belgium-fiba_rns8v99ityvjz5lnb7myf8ci.jpg?t=-689871381&w=500&quality=80 While the concerns of Serbia going into the camp as the host nation ahead of EuroBasket were well known, the heart the team played with during the final stages is something to be marvelled at.Just three months after giving birth, somehow Jelena Brooks managed to get herself back into shape and on the floor at a major international tournament. Her teammate Ana Dabovic often gets the most love during pre-game introductions and Sonja Petrovic might have earned a spot in FIBA’s All-Star Five for the tournament, but the strength Brooks showed in returning to the team to put her body on the line and help lead Serbia to a bronze medal will be remembered for a long time in their home country.Her numbers aren’t gaudy – 11 points and 5.5 rebounds per game – but the good coaching rotations of Marina Maljkovic meant that her top three scorers could keep the team chugging away throughout the game with key support from some unexpected players who hadn’t been with the program for several years but had stepped up due to injury replacement.center_img https://images.daznservices.com/di/library/sporting_news/a3/a9/olivia-epoupa-france-fiba_1dvv649hykxxu12h64eysqq281.jpg?t=-690001445&w=500&quality=80 https://images.daznservices.com/di/library/sporting_news/20/7f/alina-iagupova-ukraine-fiba_1ogb99r2re6un14epfyxu96j4n.jpg?t=-690094021&w=500&quality=80 The ever-dependable Emma Meesseman just finds ways to win. This Belgium program that was built around Ann Wauters 20 years ago is being handed over to the Washington Mystics’ forward/center, and as a result it has achieved two unprecedented achievements in consecutive years at different international tournaments.She gives her all to her country. Seeing her after games looks like a mixed martial arts fighter after going the distance. There are scratches, bruises and chunks of her body left on the floor.While she led the Belgian Cats in points and rebounds at EuroBasket, her willingness to work within a system makes her a valuable asset for a team that (aside from Julie Allemand) has an array of middle-tier talent – any one of whom can step up in any game or situation. By the end of the game, Meesseman has referred to her teammates and let the offense develop, and while she might have had a post-up here and there, you are often surprised to look up at the scoreboard and see 20 points and 9 rebounds, plus a handful of assists, blocks and a steal or two. Yet it happens, nearly every night. It also means she is the perfect player to slot in next to some players that need the ball in their hands on her WNBA team.Her importance to the team showed in no greater example than against France when she fouled out. The restrictive French defense turned to all its efforts to stopping Allemand, and with no other elite offensive threat on the floor, Belgium struggled in overtime. Against Hungary, Meesseman struggled in the first half but managed to turn the screws on defense to nearly shut out Belgium’s opponents in the second quarter. Meesseman played a big role and despite missing several easy shots under the rim, she found a way to win – just like she always does. Shooting guard: Joey Leedham-Warner – Great Britain https://images.daznservices.com/di/library/sporting_news/29/bf/jelena-brooks-serbia-fiba_3h9iispbxw3w1o0g3qvz2jz9k.jpg?t=-689417037&w=500&quality=80 Forward: Alina Iagupova – Ukrainelast_img read more

Mourinho, Ronaldo deny tax evasion claims

first_imgRonaldo named in tax leak reportLondon, United Kingdom | AFP | Manchester United manager Jose Mourinho and Real Madrid superstar Cristiano Ronaldo on Saturday denied hiding millions of euros in offshore accounts in a effort to avoid the tax man.An international consortium of media organisations claimed that a huge data leak involving 18 million documents showed Portuguese skipper Ronaldo hid 150 million euros from image rights in a British Virgin Islands tax havens.According to the European Investigative Collaborations (EIC) consortium, Mourinho is said to have concealed 12 million euros in a Swiss account owned by a British Virgin Islands company.But Gestifute, a firm representing the two men, has rejected allegations of facilitating tax evasion.In a statement, the company, founded by agent Jorge Mendes, said: “One newspaper makes the unfounded allegation that Gestifute, its clients and its advisers of having, directly or indirectly, created, organised or designed tax structures to facilitate tax evasion using tax havens. “The most serious and malicious allegations in the inquiries relate to Jose Mourinho and Cristiano Ronaldo.”It added: “Both Cristiano Ronaldo and Jose Mourinho are fully compliant with their tax obligations with the Spanish and British tax authorities.“Neither Cristiano Ronaldo nor Jose Mourinho have ever been involved in legal proceedings regarding the commission of a tax offence.“Any insinuation or accusation made to Cristiano Ronaldo or Jose Mourinho over the commission of a tax offence will be reported to the legal authorities and prosecuted.”Share on: WhatsApplast_img read more

Selling calls

first_imgShare Facebook Twitter Google + LinkedIn Pinterest The markets didn’t move much this week. Harvest pressure continues to limit corn upside potential. Beans at first looked like they may take off as harvest slowed, but on Friday, Brazil’s currency fell against the dollar. This meant a price boost for Brazilian farmers who sold some beans, putting pressure on futures prices. The 30-day forecast for South America looks good for growing beans. The market continues to search for a reason to swing either way right now.Even though I’m hoping corn prices go up, I still think corn prices are going nowhere for a while. That’s why I sold more calls, so I can presumably collect some premium in the meantime while I wait for other opportunities down the road to sell the grain and/or more options. 3 – New Trades – Selling CallsOn 10/24/17 when Dec corn was near $3.50 I sold the following calls for 10% of my production each:Jan $3.60 call for 10 cents – expires Dec 22May $3.70 call for 19 cents – expires Apr 20July $3.80 call for 19 cents – expires June 22What does this mean?If corn is trading below the strike price (the price listed on each line) when these options expire I keep the premium and add it to another trade down the road.If corn is trading above the strike price (the price listed on each line) when these options expire I have to sell corn for the strike price PLUS the premium.Should corn rally above each of these prices I would receive an average price of $3.86 ($3.70 average + 16 cents of options premium). I’ll need to move some grain during these time periods to keep my stored grain in good condition so this won’t be the worst thing if it happens.While I don’t really want to sell for $3.86, it means prices rallied, which is a good thing because I can then sell more of my unpriced corn at higher levels. I’m actually more concerned if corn prices DON’T rally. Like many farmers, I still have a substantial amount of unpriced grain that needs higher prices. So, until a rally comes, I need to “manufacture” prices that get me to profitable levels, and in this case, if prices remain low I can add to a later trade. This helps me push closer to breakeven points and possibly to profitable levels. Why I dislike minimum price contractsRight now some farmers are selling grain and then BUYING the calls I just sold in the above trades. Their guaranteed average price on all of these contracts would be $3.54. That comes from the average cost of the three calls at 16 cents, which will then need to be subtracted from the average sale price of the three contract prices above or $3.70 to establish where their true minimum price starts. One benefit of this type of trade is unlimited upside potential, if the market rallies. But if the market doesn’t rally, like this previous year, the farmer is behind.If we compare my sold call trades above to the farmers buying those calls, the farmers buying calls would need corn to go higher than $4.02 to beat my $3.86 trade because they still need to recoup the 16 cent cost of buying the calls. Rebuttal 1I’m sure some will argue that the calls could still have some time value left if there was a rally to $4, meaning the calls would be worth more than the 16-cent average. While that is a possibility, last year’s futures struggled to keep the nearby futures price above $3.80 for any length of time, so I would argue $4 might be difficult this year. That argument also assumes that a farmer would sell the call before it expires when this time value is still in place. That is usually not something I see most farmers having the discipline to do. I know I would find it extremely hard to sell the call into a rally well before it expires. Rebuttal 2Farmers buying a minimum priced contract will protect their downside, while my downside is open. Looking at the numbers though, corn prices would have to stay below $3.38, which is the minimum price contract floor of $3.54 less the 16 cent call premium I will collect, for me to be in worst shape than the farmer buying the call as part of the minimum price contract. While this could happen, I don’t think $3.38 for a prolonged time period is all that likely, especially during the January to June time frame which is historically usually the higher priced months of the marketing year. Plus, I can still sell additional calls in the future as these expire to add more premium to these trades, should this scenario happen. Generally speaking, after running the numbers for the various market scenarios that could happen, or are likely to happen, there just aren’t a lot of advantages for me to sell grain and buy calls, and in most cases a farmer doing so will end up behind because those types of trades are often long shots. That being said, there are many different ways to look at the market. A lot of farmers want unlimited upside potential, especially with downside protection, but there is a cost to get that chance. It may mean selling at levels below today’s already disappointing prices. The market has been range-bound for over a year now and could be in one for another year, so I try to structure some of my trades to be most profitable knowing this. I don’t want to be chasing long shots. Jon grew up raising corn and soybeans on a farm near Beatrice, NE. Upon graduation from The University of Nebraska in Lincoln, he became a grain merchandiser and has been trading corn, soybeans and other grains for the last 18 years, building relationships with end-users in the process. After successfully marketing his father’s grain and getting his MBA, 10 years ago he started helping farmer clients market their grain based upon his principals of farmer education, reducing risk, understanding storage potential and using basis strategy to maximize individual farm operation profits. A big believer in farmer education of futures trading, Jon writes a weekly commentary to farmers interested in learning more and growing their farm operations.Trading of futures, options, swaps and other derivatives is risky and is not suitable for all persons. All of these investment products are leveraged, and you can lose more than your initial deposit. Each investment product is offered only to and from jurisdictions where solicitation and sale are lawful, and in accordance with applicable laws and regulations in such jurisdiction. The information provided here should not be relied upon as a substitute for independent research before making your investment decisions. Superior Feed Ingredients, LLC is merely providing this information for your general information and the information does not take into account any particular individual’s investment objectives, financial situation, or needs. All investors should obtain advice based on their unique situation before making any investment decision. The contents of this communication and any attachments are for informational purposes only and under no circumstances should they be construed as an offer to buy or sell, or a solicitation to buy or sell any future, option, swap or other derivative. The sources for the information and any opinions in this communication are believed to be reliable, but Superior Feed Ingredients, LLC does not warrant or guarantee the accuracy of such information or opinions. Superior Feed Ingredients, LLC and its principals and employees may take positions different from any positions described in this communication. Past results are not necessarily indicative of future results. He can be contacted at [email protected]last_img read more

“4 Jan” GC1T8R0 GEOCACHE OF THE WEEK – November 15, 2010

first_img“4 Jan” (GC1T8R0)The regular sized geocache “4 Jan” (GC1T8R0) hides in Holyrood Park in Edinburgh, Scotland.  But the geocache isn’t “for” someone named Jan.  It has a different meaning altogether.Cache owner C3P4J created “4 Jan” as his first hide. He writes in the cache description that the name of the cache is the anniversary date of his wedding. He and his fiance were married on January 4th.Geocachers discover more than a sentimental geocache.  They are treated to amazing views of Edinburgh and the Firth of Forth.The size of this cache makes it easy to trade items, sign the log book or even drop a Travel Bug.Depending on the route that you take, the three star terrain trek may require a bit of steep climbing.  The payoffs also include an unforgettable visit to the ruins of St. Anthony’s Chapel (pictured above and below).The cache has been found more than 150 times since to was placed in June of 2009.Continue your exploration with some of the most engaging geocaches from around the world. Explore all the Geocaches of the Week on our blog or view the Bookmark List on Geocaching.com.”4 Jan” in summerShare with your Friends:More SharePrint RelatedThe Most Found Geocache in the WorldMay 19, 2013In “Community”High energy! — Fission around the bend (GC1NGRD) — Geocache of the WeekMay 28, 2015In “Geocache of the Week”Sea Shells – TB Stop & Go GCNWBC GEOCACHE OF THE WEEK – February 6, 2012February 6, 2012In “Community”last_img read more

Why Real Estate Developers Are Ignoring the Middle Class

first_imgHousing for the wealthyBut not everyone in the industry is convinced. “Supply constrained — really?” joked one investment manager. He was referring to huge amounts of new housing being built in ultra-expensive cities like New York and San Francisco. The real issue seems to be that most of this new housing is for rich people. The newest housing tower in Vancouver, for instance, is selling studio apartments for over $1 million. “A lot of construction is happening but a lot of the new projects don’t seem to be affordable to locals,” Simon Fraser University professor Josh Gordon recently told the CBC.Many leaders within the real-estate industry share the assessment. “New homes that are developed tend to be for a high-income market,” reads PwC’s Emerging Trends report. “Few builders are targeting middle-income buyers.” High land and labor costs are partly to blame. “We can’t afford not to develop apartments at the high end,” one respondent said. But so is the real estate industry’s business model. Because affordable homes tend to generate “incremental profits rather than large windfalls,” it reads, most “builders have been targeting more affluent buyers.”Protesters in Vancouver, B.C., point to the disparity between wage increases and rent increases.Yet the reasons for this aren’t only financial. They also reflect a social calculation. The real estate industry knows that income inequality is at record highs in Canada and the U.S. It believes this gap will continue to grow. One result of income disparity is to make our society’s top cities inaccessible to regular people. The report likened the experience of living in these cities to attending an invitation-only party. “At the entrance to fashionable nightclubs or red-carpet opening nights, access is controlled through use of velvet ropes on brass stanchions,” it observed. “Bouncers let only select individuals gain entry — the others have to stand and look in from the outside.”The implication is clear. Cities like Vancouver have become exclusive hangouts for the wealthy. The rest of us are now passive observers of civic life, staring longingly from the periphery. “Just as the downtowns of cities ‘hollowed out’ in the second half of the last century, so too the middle class has been hollowing out,” the report reads. This is not just confined to places like Toronto, New York, and Los Angeles. Inequality is now spreading to secondary cities across the continent. “For these areas and many others, the velvet rope means increasing income segregation,” it reads. The real estate industry wants to be inside the velvet rope. It wants the company of rich people. And it’s abandoned the middle class on the sidelines.Many leaders within the industry realize that this is a risky strategy. By focusing so heavily on affluent customers the industry is alienating big sections of our society. “Rents are hitting levels that are unaffordable to most of the younger workforce,” the report explains. And with affordability overall “on the decline,” it adds, “the related strain on the social fabric is getting high-level attention.” Real estate leaders know that if prices keep rising there will come a point when the majority of people can simply no longer afford them. “Affordable housing may be the real estate industry’s vulnerable flank,” it reads. But for now many developers are opting to ignore it. The real estate industry knows there’s huge demand for less expensive homes. It’s aware that millions of people in Canada and the U.S. don’t have the financial means for a million-dollar mortgage. It gets that this is a growing problem. But real estate developers aren’t that interested in solving it. Land in cities such as Vancouver and Toronto is expensive. Developers — and the industry at large — make much bigger profits building luxury homes for wealthy people than affordable homes for the rest of us. It’s why so few new developments are targeted towards average incomes.But the real estate industry is not only making a financial calculation. It’s making a social calculation as well. Income inequality has been growing steadily for the past few decades. It’s now at levels not seen in over a century. The real estate industry predicts the gap between rich and poor will continue to widen. It’s aligning itself with our society’s wealthiest members. And it’s ignoring the middle class. Geoff Dembicki is a reporter for The Tyee, where this article was originally published. His book, Are We Screwed? How a New Generation Is Fighting to Survive Climate Change will be published later this year. Those are some of the takeaways from Emerging Trends in Real Estate — United States and Canada 2017, a report produced by PwC and the Urban Land Institute. Its authors describe it as “one of the most highly regarded and widely read forecast reports in the real estate industry.” Its conclusions were drawn from a wide-ranging survey of investors, developers, advisers, consultants and other real estate industry leaders. “Researchers personally interviewed more than 500 individuals and survey responses were received from more than 1,500 individuals,” the report explains. A shortage of “regular rents”The report’s authors declined an interview. But many of the experts quoted in the report spoke candidly about the industry. Some of them are concerned about the direction it’s heading. “We’re not paying enough attention to affordable housing, and I don’t mean low-income or government-subsidized. Just regular rents. No new buildings are providing that kind of product,” said one CEO. “Time will tell if that’s going to come back to haunt us. Not everybody makes $75,000 to $100,000 a year.”Housing has become so expensive in cities like Vancouver, San Francisco, and New York that the industry has amended its definition of “affordable.” There is now a “distinction between ‘big-A’ and ‘small-A’ affordability,” the report explains. Big-A affordable housing is what most of us are familiar with. It refers to housing for our society’s poorest members, often built with the support of governments. Small-A affordable housing refers to the needs of people earning $31,000 to $87,000 per year. “In many markets,” the report observes, “middle-income households… are housing stressed, spending more than a third of their income on housing costs.”The industry knows that this is a problem. A society in which a majority of people can no longer afford your product is bad for business. Increasing numbers of real estate leaders seem to be paying attention. “Housing costs and availability were rated by Emerging Trends survey participants as being ‘considerably important’ issues,” the report reads, “increasing in importance this year when compared with the ‘moderate importance’ given to future home prices and affordable/workforce housing in our survey a year ago.” But acknowledging a problem is only the first step. The real estate industry doesn’t seem interested in actually addressing it.Many industry leaders have opted to blame others instead. The reason housing is so expensive in cities like Vancouver, they believe, is because local communities are resistant to new development. “[These communities] are engaged in a rear-guard action, contrary to their own self-interest,” the report reads. And governments are also blamed: they must lift restrictions and approve projects faster. “Government needs to increase the supply [of new homes],” one respondent told the report’s authors. “If there was enough supply, there would be no affordability issue.” RELATED ARTICLES A Forgotten Tool to Solve the Housing Crisis Can Low-Income Housing Be Energy-Efficient and Affordable?Green and ‘Nutritious’ Affordable Housing?Boston Mulls a New Template for Urban HousingAffordable Housing Is Leading Green BuildingSeniors Snap Up Houses Meant for Young BuyersMaking Green Affordable, Part 1Making Green Affordable, Part 2last_img read more