Bitcoin News Australia

Canada has officially banned most foreigners from buying a home, and it all has to do with Canada’s wildly unaffordable housing market.

Housing prices were up 48% in 2022 compared to 2013, and now average ~$568k — over 11x the median household income after taxes, per the BBC.

The ban, aimed to prevent investors from snapping up properties and driving up prices, prohibits non-citizens and non-permanent residents from buying residential properties for two years. Violators face a $7.4k fine.

Exceptions include international students, refugees, and people buying vacation properties outside of urban areas.

Will that work?

Well, New Zealand enacted a similar ban in 2018, but inflation has led to a continued rise in prices.

In Canada, detractors argue that foreigners account for less than 5% of buyers, and the real issue is supply.

Parliament member Jenny Kwan told The New York Times that the government should target real estate investment trusts and for-profit real estate companies. And it has a bit, via anti-home-flipping and vacancy taxes.

Meanwhile, in the US…

… the fight rages against short-term rentals.

• NYC’s new law, which requires hosts to prove they live at the property, could wipe ~25% of local Airbnb listings.
• Philly hosts must now obtain a “limited lodging operator license,” which ensures units are up to code, and a hotel license if they don’t live on-site.

FWIW, research suggests short-term rentals do drive up housing costs, and experts have suggested these very methods as a possible solution, per MarketWatch.

For more: An interesting article about “supply skepticism,” the belief that we actually don’t need to build more homes.

It’s been a tough couple of years for the Consumer Electronics Show (CES).

After peaking at 180k+ attendees pre-pandemic, CES was forced online in 2021, and saw just a quarter of pre-pandemic attendance in 2022.

This year, the Las Vegas event hopes to attract 100k+ attendees, as well as 2.5k+ exhibitors from 166 countries, per Axios.

What should you expect?

Over the next few days, there’ll be literally thousands of announcements and product demos, including from automotive brands (which have 25% more floor space than last year), metaverse developers, robotics companies (throwback to Charmin’s Rollbot), smart home gadget makers, and more.

While the event officially starts today, we’ve already seen streaming platform Roku debut its own line of TVs, and learned of a $150m deal that will see Stellantis mass-produce Archer’s electric air taxis.

There’ll be a lot of meetings, too — on average, industry execs have 29 meetings while they’re at CES.

SoulCycle — part-fitness class, part-cult — has long inspired spandex-clad attendees to chant affirmations over pumping music in a candlelit room.

Now, per Inc., founders Julie Rice and Elizabeth Cutler want to hone in on the high of that post-sweat camaraderie with their new venture, Peoplehood.

Centered around their newly coined concept of “relational fitness,” Peoplehood will:

• Hold 60-minute sessions called “gathers,” led by instructors, AKA “guides.”
• Offer a group conversation in which participants both speak and listen.

Attendees will learn to practice active listening: Verbal responses aren’t allowed in class, just physical gestures like a hand over the heart or finger snaps.

The business is currently in beta, opening online in January followed by in-person classes in New York City (and, if all goes well, countrywide).

What’s this all about?

We’re facing a loneliness epidemic exacerbated by covid and our digitized lifestyles. Plus, the decline of organized religion has left a void of communal gathering places.

Loneliness can have serious health implications, so startups are creating cures:

• Apps for friendships, like Bumble BFF, Hey! Vina, Yubo, and Meetup.
• Places for in-person gathering, such as Groundfloor and Chief.
• Online audio communities, like Clubhouse and Humans Anonymous.

Once it heals you, Peoplehood is building products to fix your relationship (Couplehood) and your workplace (Peoplehood @Work) next. *Snaps.*