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Economy, infra, foreign policy: 9 key highlights of Modi government as it completes 9 years in office | India News – Times of India

May 27, 2023 by timesofindia.indiatimes.com Leave a Comment

Economy, infra, foreign policy: 9 key highlights of Modi government as it completes 9 years in office

NEW DELHI: The Narendra Modi government marked its 9th anniversary on May 26. It was on this day in 2014 when the Prime Minister took oath for the very first time.
With PM Modi entering his 10th year in power, the government on Saturday released a booklet titled “Seva, Sushasan, Garib kalyan” to highlight the key initiatives and achievements of the 9-year NDA rule .
The 143-page is a “comprehensive compendium about India’s transformation under PM Modi’s visionary leadership across 14 facets of policymaking, ranging from infrastructure to foreign policy to social justice,” it said.
Here are the 9 key highlights from the book …

Initiatives for poor & marginalised
The book said that serving the poor and the marginalized has been the underlying promise of the
It said that from MUDRA to Stand Up India, the Modi government has launched and implemented several welfare schemes to empower Indians in the last nine years.
IIt said that 80 crore people have been getting free food grains under the PM Garib Kalyan Anna Yojana since the pandemic struck the country.
It said that over 11.8 crore households have been given tap water connections while 11.72 crore toilets have been built under Swachh Bharat Abhiyan.
“Welfare schemes from 2014 have been motivated by the principle of Antyodaya (no one is left behind). It means the government is targeting 100% saturation in every scheme,” it said.
It further said that over 48 crore Jan Dhan accounts have been opened by the government. It also highlighted how crores of people have been provided with LPG connections, electricity, insurance, DBTs, etc.
Farmer welfare
The book said that in the last nine years, there has been a paradigm shift in Indian agriculture sector, making it modern, scientific and prosperous.
“Today, the Indian farmer isn’t just cultivating for India, but is confidently eyeing the world as a marketplace for its wide-ranging products,” it said.
It noted that there has been a new impetus in the sector, guided by PM Modi’s “Beej Se Bazaar Tak” approach.
“The government has extended income support with PM Kisan Samman Nidhi, providing farmers with an assured cash transfer of Rs 6,000 per year through Direct Benefit Transfer,” it said.
It said there has been a 5.7-fold rise in the agriculture budget since 2014 while over 11 crore farmers have benefitted through the flagship PM-KISAN MSP payment for paddy.
It also highlighted various other intiatives undertaken for the farmers, including market linkages such as eNAM and granting of aid for agriculture-related startups.
Foreign policy
The book detailed how the Modi government has consistently delivered a dynamic foreign policy, which was essential to respond to the opportunities and challenges of the world today.
“National security has been a top priority for the Modi government. This can be seen in rescue operations conducted outside India, adopting a zero tolerance against terror policy at home, as well as a significant reduction in left wing extremism,” it said.
It said the primary focus of India’s foreign policy remains its immediate neighborhood, under the ‘Neighborhood First Policy’.
Giving some key numbers, it said that India has rescued thousands of citizens from various war-stricken countries under the government. Most recently, it brought back over 3,000 citizens from Sudan.
It said that there has been a 334% growth in defence exports over the last 5 years and 75% of capital acquisition budget has been earmarked for domestic production in FY 2023-24.
It further pointed out that India has recently crossed the milestone of 100 G20 meetings under its presidency.
It said counted the historic decision to remove Article 370 and Article 35A in J&K as a key highlight of the Modi government, adding that it led to a reduction in terror-related incidents in the region from 228 in 2018 to 125 in 2022.
Women empowerment
The book noted that women have grown from strength to strength in the
It said that for the first time, the sex ratio has favoured women, adding that there are now 1,020 women per 1,000 men, according to the National Family Health Survey (NFHS).
The book said under Modi rule, paid maternity leave has increased from 12 to 26 weeks, more than 3 crore women have been paid under PM Matru Vandana Yojana, over 27 crore sanitary pads have been provided at Jan Aushadi Kendras and over 27 crore Mudra loans have been disbursed to women beneficiaries, among other things.
It also noted that the government has paved the way for permanent commission for women in armed forces.

Key Numbers

Source: GOI
Fighting Covid pandemic
There were several references to India’s fight against the Covid pandemic in the book.
It said that India’s quick and effective response to the Covid-19 pandemic was supported by its rollout of the world’s largest vaccination drive and that too using indigenously developed vaccines.
“In a landmark shift from the past, when the citizens had to wait for decades for the start of vaccination drives, PM Modi led government ensured administration of more than 2.2 billion doses of Covid vaccine in a short span of two years,” it said.

It also mentioned several innovative ways the government adopted to fight the pandemic, such as running 900 Oxygen Express trains to deliver liquid oxygen, use of Air Force to transport cryogenic tankers, conversion of over 4,000 railway coaches into isolated facilities, creation of makeshift facilities for Covid management and sanction of over 1,500 PSA plants.
It said that the Modi government’s focus on healthcare has been a crucial factor in India emerging victorious from a global pandemic.
Ease of living
The book said that the government, through various measures, has focused on improving the daily life of its citizens.
“This push to improve quality of life for all Indians is in line with the larger vision of the Prime Minister of ‘Sabka Saath, Sabka Vikas, Sabka Vishwas, Sabka Prayas’,” it said.
It said that how the several welfare programmes of the Modi government have ensured that citizens across all segments of society have access to basic facilities like banking, LPG connections, sanitation, electricity, tap water, affordable healthcare and quality education.
It further added that a reduction in interest rates and the Modi government’s Credit Linked Subsidy Scheme under PM Awas Yojana has enabled people to buy their first home.
It highlighted the government’s recent announcement of a full tax rebate for those with income up to Rs 7 lakh a year.
Among other things, it said that over 21,800 government services are now accessible through UMANG app, Rs 25,000 crore has been disbursed under SWAMIH fund for stalled real estate projects, almost 1.16 crore people have benefitted from affordable air travel under UDAN, metro network has been expended from 5 cities in 2014 to 20 in 2023, cost of internet data has gone down by 97%, over 4,300 states have been given open defecation free status and over 3 crore urban and rural houses have been provided under PM Awas Yojana.
Economy
The book noted that the Indian economy has seen a “remarkable transformation” in the last nine years, adding that its impact can be seen in the improved quality of life of all Indians across various sections of society.
It said that the past few years have been challenging for the world, especially since the Russian-Ukraine war, but Indian economy continued to break new ground even amid global turmoil.
“The robust rise in GST collections, increase in capital expenditure outlay and record growth in exports are indicative of a vibrant and growing economy that has recovered from the effects of the pandemic,” it said.
Giving some numbers to buttress the point, it said that 46% of global real-time digital payments happened in India in 2022. It further added that Rs 27.1 lakh crore Aatmanirbhar package during Covid helped save the economy.
“Monthly GST collections hit all-time high of Rs 1.87 lakh crore in April 2023; record $770 billion of goods and services were exported in FY23; over Rs 6.6 lakh crore bad loans were recovered; and there has been a 50% rise in export of electronic goods, among other things.”
It added that India is now home to over 100 unicorns.
Further, it said that India’s efforts to improve the ease of doing business are now being acknowledged on the global stage with the country’s ranking in the World Bank’s Ease of Doing Business Index surging from 142 in 2014 to 63 in 2019.
Infrastructure
It said that the Narendra Modi-led government has kept infrastructure at the front and centre of its development agenda.
” … in the last nine years, thinking big and delivering without delay have been the hallmarks of infrastructure development in the country. The Prime Minister has regularly monitored the progress of projects through the PRAGATI platform, which has led to the successful completion of various delayed, as well as newly announced infrastructure projects,” it said.
It said that there has been a 500% increase in road transport and highway budget allocation since 2014.
Providing other details to support its point, it said that 400 world class Vande Bharat trains will be manufactured, of which 17 are operational.
“Speed of high construction has reached 37 km/day, there is 99% coverage in rural road connectivity, length of metro went from 248km in 2014 to 860km in 2013, 74 airports have been made operational since 2014, and 111 waterways have been declared as National Waterways.”
Healthcare
The book said that India has made huge strides in the area of healthcare since 2014.
It said that accessible and affordable quality healthcare has turned into a reality for the citizens of India.
Providing details of the various initiatives taken by the government, it said in 2018, the Centre launched the Ayushman Bharat Pradhan Mantri Jan Arogya Yojana, the world’s largest health insurance programme, which benefitted over 22 crore people.
It said that over 25 crore health records of individuals have been linked to their Ayushman Bharat Health Accounts (ABHA).
It added that the Modi government has brought a crucial turnaround in medical education with 9,663 medical seats being added since 2014. “In the last nine years, the Modi government has approved/established new AIIMS in several states, and large number of new medical colleges,” it said.
It said that over 9,000 Jan Aushadhi Kendras have been added, over 1.59 lakh Ayushman Bharat centres have been set up across India and over 37 crore Ayushman Bharat health accounts have been opened, among other things.

Filed Under: AsiaNews India, India news, India news today, Today news, Google news, Breaking news, NDA, narendra modi, modi government, government, 9 years of modi, News, Google..., india's foreign policy under modi, india's foreign policy under modi government, india's foreign policy under modi upsc

Texas House Impeaches Attorney General Ken Paxton—A Key Trump Defender

May 27, 2023 by www.forbes.com Leave a Comment

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The Texas House voted overwhelmingly to impeach Texas Attorney General Ken Paxton—a Republican and loyal supporter of Donald Trump—on Saturday, removing him from office and placing his fate with the Texas Senate following a months-long investigation into his alleged criminal activity.

Key Facts

The Texas House of Representatives voted 121-23 to impeach Paxton, immediately suspending him from his job, and Senate will now decide whether he will be permanently thrown from office—and any future Texas elected office—over charges of bribery, abuse of office and obstruction.

It now moves to the Texas Senate—where Paxton’s wife Angela is a member—for a trial where a tw0-thirds majority must support removing Paxton.

Paxton responded on Twitter, calling his impeachment “illegal, unethical, and profoundly unjust.”

Earlier Saturday Trump, who referred to Paxton as “one of the most hard-working and effective” attorney generals, criticized the impeachment vote—which he called “ELECTION INTERFERENCE!”—in a series of Truth Social posts Saturday, indicating he “ will fight ” any Republican who votes to impeach Paxton.

The Texas House General Investigating Committee filed 20 articles of impeachment against Paxton Thursday, which alleges Paxton misused public funds, accepted bribes, made false statements and abused public trust, among other charges.

Paxton claimed the charges against him are based on “hearsay and gossip” during a press conference Friday, and called for his supporters to show up to the statehouse and protest the vote.

Crucial Quote

A spokesperson for House Speaker Dade Phelan—whom Paxton called to resign earlier this week— told the New York Times : “The attorney general appears to have routinely abused his powers for personal gain and exhibited blatant disregard for the ethical and legal propriety.”

Chief Critic

Matt Rinaldi, chairman of the state’s Republican party, called the impeachment vote a “sham,” adding, “It is based on allegations already litigated by voters, led by a liberal speaker trying to undermine his conservative adversaries.” Donald Trump Jr. called the vote a “disgrace” and said, “MAGA stands with [Paxton] against this RINO/Dem led witch hunt!!!”

Surprising Fact

If impeached, Paxton would become the state’s third official to be removed by the legislature. The last was District Judge O.P. Carrillo in 1975, after he was accused of misusing public funds and for presiding over cases that involved his financial partners. Democratic Gov. James Ferguson was impeached in 1917, after he was charged with the misapplication of public funds.

Key Background

Paxton faces impeachment six months after he was reelected by more than 10% of the vote over his Democratic opponent Rochelle Garza. An investigation by the House committee into Paxton stems from a lawsuit in which former staffers accused the attorney general of retaliation after they claimed he took part in criminal acts. He agreed to pay a $3.3 million settlement in February, which he requested state budget writers to fund. The charges also involve his relationship with Nate Paul, an Austin-based real estate developer who claimed there was a conspiracy that some of his properties—worth $200 million—were being stolen. The House committee alleges Paxton worked to interfere in lawsuits involving Paul and issued legal opinions to benefit Paul. The committee also claims Paul hired a woman Paxton allegedly had an affair with, in exchange for legal support and payment toward renovations to Paxton’s home.

Tangent

Paxton has been involved in other controversies in recent years. In 2020, Paxton filed a lawsuit against Georgia, Michigan, Pennsylvania and Wisconsin accusing each state of “ignoring federal and state election laws,” in an effort to overturn the presidential election in favor of Donald Trump. Two years later, Paxton challenged the Justice Department’s raid on Trump’s home in Mar-A-Lago and accused the Biden Administration of “weaponizing the DOJ.” In 2015, Paxton was indicted on securities fraud charges—which Paxton admitted to doing—though the charges have yet to go to trial. He faces a sentence of up to 99 years in prison for those charges. That same year, prosecutors claimed Paxton accepted $100,000 to offer legal advice to a company that was under investigation by Paxton’s office.

Further Reading

Texas House Committee Recommends Impeaching Attorney General Ken Paxton ( Forbes )

Texas Attorney General Urges House Speaker To Resign After Video Shows ‘Apparent Intoxication’ During House Session ( Forbes )

Filed Under: Uncategorized Texas AG, Ken Paxton, Donald Trump, Texas House of Representatives, James Ferguson, ..., homeserve kansas attorney general, attorney general mfcu, former n.j. attorney general

Treaty talks underway on landmark laws, but some say key voices are missing

March 29, 2023 by www.abc.net.au Leave a Comment

After years of fighting for landmark legislation that would pave the way for continued reconciliation between First Nations people and the state of Queensland, traditional owners say a crucial step in the process is leaving out key voices.

The government’s Community Support and Services Committee (CSSC) has held public forums in nine regional Queensland locations this month to gather feedback on the government’s historic Path to Treaty Bill.

But the low attendance has left some community members baffled, with many saying they were not aware the meetings were on, and elders have questioned the government’s genuine commitment to Treaty.

Nearest forum 700km away

Iningai Traditional Custodian Tony Weldon opened the Longreach forum with a Welcome to Country.

He said it was concerning only 18 people attended.

“It is gonna miss a lot of feedback from local Indigenous people, there’s a lot of people missing,” Mr Weldon said.

Respected Wangkangurru and Yarluyandi Elder Don Rowlands said he would have liked to attend the Longreach forum, but was not invited.

It was his nearest session but 700 kilometres from his home at Birdsville, on the edge of the Munga-Thirri Simpson Desert in outback Queensland.

“I would have loved to have been there to just listen and hear what other groups are saying,” Mr Rowlands said.

“If this is working towards some better future, then I’d like to be involved [and they] should have invited all the people on the edge of the desert.

“I think it’s pretty poor.”

The CSSC parliamentary forum has visited Cairns, Weipa, Thursday Island, Palm Island, Townsville, Longreach, Woorabinda and Rockhampton, and a 10th session will be held at Inala in Brisbane on April 17.

Mr Rowlands suggested the government use technology to allow more people to be involved.

“Zoom works out here … we could be on Zoom if everything else fails,” he said.

The state government said it notified the community about the forum via a media release and said those who could not attend a forum should contact the committee directly about their concerns.

The CSSC chair, Labor MP Corrine McMillan, acknowledged people’s struggle to travel to the forums, especially as many communities have been isolated due to widespread flooding .

“We understand that there has been some devastation across parts of northern Queensland and certainly our thoughts are with each and every one of our community members in that situation,” she said.

She said there would be an opportunity for those who missed out to contribute to the conversation.

“Members of the community that are wishing to make a contribution can do so via the Queensland parliament website Path to Treaty ,” she said.

“If there is a First Nations group that would like to be consulted personally, [they] certainly can make contact with me and I will do everything I can to ensure that their voice is heard.”

Long journey to treaty and truth

All Australian states except New South Wales have made progress toward a treaty, but the NSW Labor leader Chris Minns promised $5 million earlier this year toward treaty consultations if the party won this month’s election.

At the 2021 census, 237,000 people in Queensland identified as Aboriginal and/or Torres Strait Islander — more than a quarter of Australia’s total First Nations population.

The Path to Treaty has three parts : the establishment of a First Nations Treaty Institute; a council to govern the institute; and holding a truth-telling and healing inquiry.

An independent group — the Interim Truth and Treaty Body (ITTB) — has been tasked with designing how the institute and inquiry will work, and is hosting its own public consultation forums.

Fifteen people attended their recent meeting in Rockhampton, a major regional centre of 80,000 people around 650 kilometres north of Brisbane.

Gangulu and Iman woman Rosemary Hoffman-Toby, found out about the ITTB meeting the night before.

“If we establish this treaty, it’s there for the future of our children and our grandkids and our great-grannies so we need to get this right — straight up,” she said.

So far, the ITTB has visited Cairns, Weipa, Thursday Island, Palm Island, Townsville, Woorabinda and Rockhampton.

It will visit Mount Isa on Friday, Roma on April 4, Cunnamulla on April 5 and Charleville on April 6.

In a statement, the Interim Truth and Treaty Body said it contacted some organisations directly ahead of the forums, but largely used email and social media to share details of the event.

One of the 10 board members, Aaron Fa’Aoso, said it was important the treaty-making process was community-led.

“There’s a lot of scepticism because of broken promises, previous legislations, policies, acts,” Mr Fa’Aso said.

“We’re charged with giving that information and taking our people in communities on this treaty-making journey which will not be without its challenges and it’s something that we are very aware of as well.”

Posted 29 Mar 2023 29 Mar 2023 Wed 29 Mar 2023 at 9:19pm

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How working from home could cost you your job

May 17, 2023 by www.telegraph.co.uk Leave a Comment

“You haven’t been in the office since Monday – why?” Jess was juggling a sick toddler, a restless dog and a pressing legal brief when an email popped up on her laptop from a woman named Maggie.

“Sorry, who are you?” she replied.

A minute later, the answer pinged back. “I oversee employee attendance at your firm and note you have only been in the office for one of your three allotted days this week. If this happens again, I will have to send you a written warning”

Jess works at a seemingly liberal-minded law firm – the sort of place with monthly diversity and inclusion seminars and a stated commitment to promoting equality between the sexes. Hence her surprise at being called out when she had already spoken to her legal director and explained that her son had the flu and her husband was away.

“It’s all very well for them to say they want more women to stay at the firm and get on the partnership track,” she says. “But hiring people to send aggressive messages about working from home when I am doing everything I can to meet my deadline feels like the opposite of progressive.”

Jess is far from alone. An executive working in the London branch of an American investment firm says that – after months of politely inviting employees to come back in – management has taken action.

“We’ve all been told that we have to be in the office for at least three days a week, regardless of holiday or bank holidays,” he explains. “We’ve heard that they’ve employed someone whose only job is to monitor attendance by watching who checks in and out of the building. Anyone who is not in for three days receives a written warning. We’ve also been told we have to be there at 9am, because too many people were doing odd hours and there were empty desks when the boss arrived in the morning.

“It’s fair to say that after making them so much money during the pandemic, we’re pretty annoyed and there’s tension.”

Companies, it seems, have had enough of the carrot. It has been over a year since the final Covid restrictions were lifted but in-house attendance is still nowhere near 2019 levels, with average office occupancy currently sitting at just 34 per cent.

Now, a tug of war is playing out between employees, who are loath to return to their daily commute and costly Pret lunches , and senior directors – under pressure as profits suffer due to economic pressures – who are determined to get bums on seats.

It is already a political issue, and a leaked document suggests that Labour plans to give people the legal right to work from home if they win the next election. The key line reads: “Make flexible working the default from day one for all workers, except where it is not reasonably feasible.”

For months, bosses tried tempting employees out of their spare rooms with in-house Pilates and yoga classes, Friday afternoon drinks and even dog-walking services for pandemic-bought pooches. Now – like a parent at the absolute end of their tether – they have turned to punishment.

“It varies a lot from industry to industry, but there is certainly a degree of impatience from some managers that was not there in the aftermath of the pandemic,” says Colin Leckey, a partner specialising in employment law at employment law firm Lewis Silkin.

“And they are going down a number of routes to get what they want.”

Finance is among the strictest of all the industries – JP Morgan is one of a handful of banks that has told the majority of its workforce they are expected in the office for a full five-day week. “My company is obsessed,” says a London-based trader at a different bank. “I went to Frankfurt for work the other day and by 10am I had an email asking where I was.”

And it’s not just the new recruits – senior teams are also being monitored. One of Britain’s biggest companies, investment firm M&G, has told its top managers they now have to spend a minimum of three days a week at work. In a leaked email, they were informed that junior staff would like to see “more of their leadership team in the office than is currently the case.” Meanwhile insurance giant Aviva has let its managers know that bonuses will be linked to getting more staff back into the office.

They might have a tricky time doing so. Workers’ determination to stick to new hybrid working patterns has been dubbed the Great Resistance – and in this case resistance seems very far from futile. A study by Stanford has shown that in America, employee attendance is significantly lower than management would like it; according to Leckey, Britain is in a similar boat. “In almost every case I’ve seen, workers aren’t coming in nearly as much as companies would like them to,” he says.

Hence their low expectations. Businesses that asked employees to be in the office five days a week have largely failed, with less than half of workers following their guidelines. It was only once they told them to come in for three days or fewer that up to 80 per cent toed the line.

But could ignoring company policy on working from home really cost people their jobs? “I don’t think people will be fired outright – at least not immediately,” says one woman working in HR for a London-based hedge fund. “But they could well be passed up for promotion or get a smaller bonus if it’s something their managers care about – and quite a lot of the senior staff here have a real bee in their bonnet about it. And if there is a wave of redundancies, people who aren’t in the office as much are more likely to be at the top of the list.”

Leckey adds it is always possible to fire someone for working from home too much – even if they have been meeting all their work targets. “But whether it’s a good idea is a different matter,” he says.

One problem businesses might run into at an employment tribunal is that, while most people signed contracts stating where their place of work is, during the pandemic, that shifted. At first, it was in response to a public emergency, but many employers continued to allow workers to spend half or even all of their week working from home after restrictions were lifted. If there is no paper trail from 2021 saying that a return to pre-pandemic working patterns was expected, then people could say their place of work changed.

Equally, anyone who has caring responsibilities – children or elderly parents – or medical or mental health issues that require them to work from home at least part of the week can claim unfair dismissal. Then there are the people who were hired during the pandemic, many of whom are super commuters with monster journeys to and from the office, or those who moved further away when they assumed flexible working was here to stay. All would be within their rights to make a flexible working application.

“There are a variety of ways employees can push back – particularly if they’re being asked to come in five days a week,” says Leckey. “And as a result, most employers have opted for a middle ground of hybrid working.”

The problem with this approach, according to workers, is that teams are rarely together on the same days – so they end up coming to work to sit on a Zoom call. One civil servant based in London explains that while he is expected to be in the office twice a week, there are no guidelines as to when. “There are rarely more than two or three of us in at the same time, so all meetings have to happen on Teams anyway, which means we’re still just staring at our laptops in a different location,” he says. “I’m more productive at home, which means those two days feel like a box-ticking exercise rather than anything worthwhile.”

Filed Under: Uncategorized UK News, Daily Features, UK coronavirus lockdown, Standard, Mental health, Coronavirus, Other features, US content, Jobs and employment, work home canada jobs, work home craft jobs, work home engineering jobs, work home europe jobs, work home freelance jobs, work home from jobs, work home government jobs data entry, work home it jobs, work home insurance jobs, work home medical jobs

Limited Inventory and Affordability Keep April Pending Home Sales Flat

May 25, 2023 by www.investopedia.com Leave a Comment

Pending home sales were unchanged in April from the previous month as high prices, rising mortgage rates and limited inventory keep the homebuying market in a slump. Compared with a year ago, pending home sales fell in all four U.S. regions.

Key Takeaways

  • Pending home sales were unchanged in April from March.
  • Compared with a year ago, pending home sales fell in all four regions.
  • Contract signings improved in three regions over April, but declined in the Northeast.

The Pending Home Sales Index, the National Association of Realtors’ indicator of home sales based on contract signings, stayed at 78.9 in April. Year-over-year, pending transactions dropped by 20.3%. But the numbers varied by geography.

How Things Changed Regionally

Contract signings improved in three regions month-over-month, but declined in the Northeast to 59.1, 11.3% lower from last month and a drop of 21.8% since last year, according to the NAR.

In the Midwest, the index improved slightly to 78.4, up 3.6% from the month before but down 21.4% from one year ago. The index was at 62.2 in the West, after increasing 4.7% over the month. It was down 26% from last year. The South saw a modest increase of 0.1%, with the index ending the end of April at 99.6, dropping 16.7% from the year before.

The data align with activity picking up in the South , according to NAR Chief Economist Lawrence Yun.

“Minor monthly variations in regional activity are typical,” said Yun. “However, cumulative results over many years clearly point towards a much greater number of home sales in the South.”

“The South’s pending home sales activity is similar to that of 2001, but the Midwest’s activity has decreased by 22% in that same period, and the Northeast and West regions are both about 40% lower than they were in 2001,” Yun added.

The Housing Market Slump Is Far From Over

Concerns about limited inventory across the U.S. may be tempered by a rise in new, single family housing starts in April. At 1.401 million, privately-owned housing starts for all residential construction in April rose 2.2% from March, but are still down 22.3% from April 2022. The uptick comes alongside an increase in National Association of Home Builders homebuilder confidence data —that reflects builder sentiment about selling newly built homes.

“Not all buying interests are being completed due to limited inventory,” said Yun. “Affordability challenges certainly remain and continue to hold back contract signings, but a sizeable increase in housing inventory will be critical to get more Americans moving.”

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