Global Scans · Homes · Weekly Summary

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WHAT'S NEXT?: The number of smart homes is expected to grow further and by 2020 it is expected 46.2 million homes in the US and 44.9 million in Europe will be classed as smart homes. By 2022 there could be nearly 500 smart devices that can be connected to a smart home.

• Growth in the price of shelter services is projected to remain above its long-run trend in 2026 and 2027 because of a weaker-than-expected decline in the growth of home prices. Congressional Budget Office
• The annual growth of real residential investment will jump to an average of 10.8% in 2025 and 2026 because of declines in mortgage interest rates and the increased demand for housing associated with the large number of recent immigrants. Congressional Budget Office
• Rapid population growth, pent-up demand, and a scarcity of existing homes for sale are expected to boost demand for new homes, leading real residential investment to rise by 5.1% in 2024. Congressional Budget Office
• Concerns arise when dealing with China, which tends to import not only capital but also labour, potentially depriving the local population of job opportunities and family incomes. Colombo Gazette
• With Karachi building upwards to house its expanding population, but unregulated building leaves poor families at risk, an IIED film, 'Karachi rising', outlines solutions that could benefit the whole city. International Institute for Environment and Development
• Canada would need about 5 million housing units to restore affordability by 2030, well above the 3.5 million units projected by the Canada Mortgage and Housing Corporation in 2022. Yahoo Finance
• Housing affordability in Canada will not return to pre-pandemic levels in the next two years, even if economic weakness weighs down home buying activity. Yahoo Finance
• A new feature at Biofach 2024 will be the HoReCa - GV & Gastro hub, a communicative space geared toward interested parties and representatives of the out-of-home catering and hospitality segment. .foodingredientsfirst.com/
• The cost of living payment will benefit more than 680,000 households in Scotland, more than 400,000 in Wales and 300,000 in Northern Ireland on means-tested benefits. The Guardian
• Even though BMI expects policy rate cuts from central banks in 2024 amid easing inflation, borrowing costs may not reach their pre-pandemic lows and households may need to adjust to high interest rates. BusinessWorld
• The focus of the Family Mediation Council will now turn to training mediators on abuse signs and recognising victims. Morecrofts Solicitors
• Governor Andrew Bailey confirms House of Lords' view that the AI technology should be seen as a positive, rather than a risk to business. FinExtra
• A year on from the lifting of COVID-19 restrictions in China, the eight-day Chinese New Year (CNY) holiday is expected to see a major surge in travel and consumption as people head home for family reunions or set off for a week of travel and tourism. China Briefing News
• 2024 will be the year of the smart home, the acceleration of Europe's fiber rollout, transformative M&A and opportunities around 5G and cyber security. ING Think
• The decision by the Bank of England to hold interest rates at 5.25% will come as a relief to households holding back on spending and businesses that have pressed pause on investment. CBI
• An adverse shock to the Canadian economy would make it more difficult for households to service their debt and could also reduce their net worth and their access to credit. Bank of Canada
• In 2024, the federal government is set to roll out, state by state, tens of billions of dollars in energy incentives that could help more families break free of energy poverty, improve air quality in their communities and cut planet-warming emissions. The Washington Post
• The biggest threat facing America in 2024 is not the person who will occupy the White House after November's election. Yahoo News
• Stellantis will have eight fuel cell hydrogen versions of mid-size and large vans produced in-house: Citroen e-Jumpy and e-Jumper, Fiat Professional E-Scudo and E-Ducato, Opel Vivaro and Movano, and Peugeot E-Expert and E-Boxer. Automotive World
• If by 2025 heat pumps are installed instead of air conditioners in new homes, by 2035 we could prevent the release of 19.6 million tonnes of carbon dioxide equivalent emissions - the equivalent of taking approximately 4 million passenger vehicles off the road for a year. The Pointer

Last updated: 10 February 2024