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When will these painful price hikes slow down? 

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2 years ago

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“Inflation is one form of taxation that can be imposed without legislation.”

This is one of the poignant quotes by American economist, Milton Friedman which succinctly explains how price hikes rob households and businesses of their hard-earned incomes.

When stable, inflation can easily be wished away as one of those jargons that economists and financial experts bundle around when talking about the economy and finance.

But when high and surging, it becomes the invincible pickpocket that steals incomes, raises cost of living and threatens business survivals and jobs.

Ghana and the world are currently in this challenge.

Since the beginning of the year, the local economy has been enduring one of its worst inflationary periods in decades and the grim on people’s faces on the streets and offices tells of how deadly the situation is to lives and livelihoods.

While various stakeholders have spoken against the resulting frustrating cost of living, the recent historic closure of shops in the Kumasi and Accra Metropolis give credence to the extent to which the price hikes are threatening lives and livelihoods.

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But how did we get here and how soon can we get out of it?

Genesis

Until November last year, general price levels were rising at a declining rate in a sustained manner that helped households to save and invest and businesses to plan and expand their operations.

But since then, the situation has changed; prices now rise sharply at rates only seen in the late 1990s into the early 2000s when the country was a candidate for the highly indebted poor countries (HIPC) initiative of the World Bank and the International Monetary Fund (IMF).

Due to this, the value of the local currency, the cedi, relative to what it can buy has plummeted.
What an income of GH¢1,000 could achieve for a household in November last year is no longer tenable as the price jumps have more than halved the value of that amount.

Indeed, so dire is the situation that GH¢2,000 last week is not the same today as far as what it can purchase is concerned.

Cedi fall

In the midst of the piercing price jumps is a debilitating currency depreciation.

After opening the year around one US dollar to six cedis, the cedi has lost more than 40 per cent of its value to the ‘greenback’ to trade above GH¢12 to a dollar as of October 20.

What is alarming is the hefty nature of the depreciation in recent times. From closing last week around GH¢10 to a dollar, the cedi climbed up to GH¢13 to a dollar on Thursday in a sharp fall that should send shivers down the spines of the economic managers.

The price jumps and the cedi fall are not happening in a vacuum; they are symptoms of an economy ‘under the weather.’

Our revenues are meagre yet our expenditures are so high. As a result, the gap between what we earn and spend has been unhealthily wide.

To plug the resulting hole, we have borrowed more than our strength/economy can withstand.

This attracted the ire of international ratings agencies, leading to the infamous downgrades of the economy to levels never seen before.

Acting together, these developments eroded confidence and caused the global financial market, where we used to frequent for loans, to lose trust in our ability to repay current and future debts.

The result is the lack of market access that has since denied us access to foreign loans to shore up the reserves and cushion the cedi.

Needless to say that this was happening to a fragile economy recovering from the battering of the COVID-19 pandemic and the Russia/Ukraine war, which is raising global prices and reducing supplies.

Implications

As stated earlier, the cedi fall and the spiking inflation erode the value of money – making it impossible for GH¢500 to buy the same volume of goods that it could buy a few days or months ago.

This has direct effect on hunger levels, malnutrition and all the standards of living indicators.

As the soaring prices reduce demand for goods and services, businesses become fragile and more prone to collapse while jobs become increasingly insecure.

In the worst case, social upheavals risk becoming the only avenue for people to voice out their frustrations. Reference the closure of shops in Accra and Kumasi.

To the government, surging inflation and a falling cedi drive away investors, leading to dwindling foreign exchange and its impact on the country’s ability to fund imports.

In fact, the country’s net reserves, which measure the size of assets available to pay for imports, shrunk from about $6.08 billion in December last year to $2.7 billion in September.

High inflation and a weak currency also increase the foreign component of the debt stock and generally deteriorate the books or fiscal position of the country.

When it will end

With the perennial Christmas shopping and dividend/profit repatriation from every October beginning to take shape, one wonders when the ‘storm’ will subside.

It is even so because initial expectations that the $750 million AFREXIM loan and the $1.13 billion cocoa loan would help dowse the pressures have failed to materialise.

While the AFREXIM loan has been disbursed, the cocoa loan is yet to hit the Bank of Ghana’s accounts – leaving the currency to the mercy of the challenges.

Given the corner the country finds itself in, only a timely successful deal with the IMF will help.

It will help restore confidence and integrity for local policies and programmes. It will help assuage the fears of nonresident investors to stay or return with their funds and also reopen the markets for borrowing.

These would serve as the necessary cold water over the flaming cedi depreciation and spiking inflation.

The impact will be a moderation in the pace at which price increases and the cedi depreciates.
Ghanaians also need to be a little more patriotic.

The increasing hoarding of foreign currencies, rumor mongering about debt restructuring and the resulting rush to discount investments are bad for an already bad situation.

Traders also need to be realistic with their pricing.

People and institutions profit from chaos; yes,­­­­ but what conscience will you have if your profit is derived from deliberately squeezing water off your already battered compatriots?


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Preserving the Past, Restoring the Future: The Role of Historic Homes Restoration Companies

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3 hours ago

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April 28, 2024

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Historic house restoration firms play an important part in maintaining, revitalising, and celebrating our architectural history, ensuring that historic structures continue to inspire and enhance our lives for centuries. By honouring architectural heritage, revitalising cultural sites, maintaining craftsmanship and skills, and supporting sustainable restoration procedures, these businesses demonstrate a dedication to quality and stewardship that is critical to preserving our common history and identity. Whether renovating a large house or a tiny cottage, historic home restoration firms are committed to conserving the past, restoring the future, and ensuring that the tales of our architectural legacy go on for posterity.

Historic homes stand as timeless monuments to bygone eras, each telling a unique story of architectural craftsmanship, cultural heritage, and historical significance. However, the passage of time can take its toll on these venerable structures, leading to deterioration and decay that threaten their legacy and character. Historic home restoration companies play a vital role in preserving and revitalizing these architectural treasures, breathing new life into historic properties and ensuring their continued relevance and beauty for generations to come. Let’s explore the invaluable contributions of historic home restoration companies and the transformative impact they have on preserving our shared heritage.

Honoring Architectural Heritage

Historic home restoration companies are dedicated to honouring and preserving the architectural heritage of historic properties, respecting the craftsmanship, materials, and design principles of bygone eras. Whether restoring Victorian mansions, Colonial Revival estates, or Craftsman bungalows, these companies employ skilled artisans, craftsmen, and preservationists who specialize in traditional building techniques and materials to ensure authenticity and historical accuracy in their restoration work. From intricate woodwork and ornate plaster mouldings to period-appropriate finishes and fixtures, every detail is meticulously crafted to honour the original architectural integrity of historic homes.

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Revitalizing Cultural Landmarks

Beyond their architectural significance, historic homes serve as cultural landmarks that reflect the social, economic, and political history of their communities. Historic home restoration companies play a crucial role in revitalizing these cultural treasures, transforming neglected properties into vibrant, thriving spaces that contribute to the cultural fabric and identity of their surroundings. By breathing new life into historic homes through thoughtful restoration and adaptive reuse, these companies help revitalize neighbourhoods, attract tourism, and foster a sense of pride and connection among residents.

Preserving Craftsmanship and Skills

Historic home restoration companies are custodians of traditional craftsmanship and skills that have been passed down through generations. By employing skilled artisans, craftsmen, and tradespeople who specialize in heritage conservation and restoration, these companies help preserve and perpetuate time-honoured building techniques and craftsmanship that might otherwise be lost to history. From masonry and carpentry to stained glass restoration and decorative painting, the expertise of these craftsmen ensures that historic homes are restored to their former glory with the same level of skill and dedication as their original builders.

Sustainable Restoration Practices

In addition to preserving architectural heritage, historic home restoration companies are committed to sustainable restoration practices that minimize environmental impact and promote long-term sustainability. By prioritizing energy efficiency, green building materials, and adaptive reuse strategies, these companies strive to ensure that historic properties are restored in a manner that respects the environment and supports sustainable living. From installing energy-efficient HVAC systems and insulation to repurposing salvaged materials and incorporating renewable energy sources, sustainable restoration practices help reduce carbon footprint and preserve resources for future generations.

Historic Homes Restoration Companies

Paulson’s Construction

  • Location: Milford, MI
  • Specializes in historic restorations of homes and buildings
  • Experience with all types of construction
  • Offers services such as structural work, custom woodwork, and exterior repairs

Cottage Industries, Inc.

  • Location: Devon, PA
  • Specializes in historic restorations and updates
  • Offers services such as preserving original charm and incorporating modern amenities

General Tips for Finding Historic Home Restoration Companies

  • Research local companies and ask for referrals
  • Check for experience with historic homes and restorations
  • Look for companies with good reputations and reviews
  • Ensure companies are licensed and insured
  • Get multiple quotes and compare services and prices

Things to Consider When Restoring a Historic Home

  • Restoration vs. rehabilitation: decide whether to restore to a specific period or update for modern living
  • Consider historic district designations, local building codes, and property insurance
  • Be mindful of adding or removing features and materials
  • Use custom fittings and fixtures when possible
  • Prioritize preserving original details and craftsmanship

Additional Resources

  • National Trust for Historic Preservation: offers resources and guidance for historic home restoration and preservation
  • Local historical societies and preservation organizations: can provide information on local contractors and resources
  • State Historic Preservation Officer (SHPO): can offer guidance and resources for historic home restoration and preservation

Conclusion

Historic home restoration companies play a vital role in preserving, revitalizing, and celebrating our architectural heritage, ensuring that historic properties continue to inspire and enrich our lives for generations to come. By honouring architectural heritage, revitalizing cultural landmarks, preserving craftsmanship and skills, and promoting sustainable restoration practices, these companies embody a commitment to excellence and stewardship that is essential in safeguarding our shared history and identity. Whether restoring a grand mansion or a humble cottage, historic home restoration companies are dedicated to preserving the past, restoring the future, and ensuring that the stories of our architectural heritage endure for posterity.

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Building a Greener Future: Exploring Eco-Friendly Sustainable Housing Developments

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3 hours ago

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April 28, 2024

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Eco-friendly, sustainable housing developments provide a possible answer to the environmental difficulties brought by urbanisation. By using sustainable building materials, energy-efficient design, water conservation, and biophilic design concepts, these developments may reduce their carbon footprint and encourage ecologically responsible living. While obstacles persist, the advantages of environmentally responsible house building

In an era defined by environmental consciousness and sustainability, the demand for eco-friendly housing solutions is on the rise. Eco-friendly sustainable housing developments offer a compelling alternative to traditional residential communities, providing residents with a harmonious blend of modern comforts, environmental stewardship, and a healthier, more sustainable way of life. Let’s embark on a journey to explore the innovative world of eco-friendly sustainable housing developments and discover the transformative impact they are making on the way we live, build, and interact with our environment.

Embracing Sustainable Principles

At the heart of eco-friendly sustainable housing developments lies a commitment to environmental responsibility and resource efficiency. These developments are designed and built with careful consideration for their ecological footprint, incorporating sustainable building materials, energy-efficient technologies, and green design practices to minimize environmental impact and promote long-term sustainability. From solar panels and green roofs to rainwater harvesting systems and passive heating and cooling strategies, eco-friendly housing developments leverage cutting-edge innovations to create homes that are both eco-conscious and aesthetically pleasing.

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Creating Healthy, Vibrant Communities

Beyond their environmental benefits, eco-friendly sustainable housing developments foster vibrant, healthy communities that prioritize the well-being of residents and the surrounding ecosystem. These developments often feature pedestrian-friendly designs, green spaces, community gardens, and shared amenities that promote active living, social interaction, and a strong sense of community. By prioritizing walkability, connectivity, and access to nature, eco-friendly housing developments encourage residents to lead healthier, more sustainable lifestyles while fostering a sense of belonging and connection to their surroundings.

Promoting Energy Efficiency and Cost Savings

One of the most significant advantages of eco-friendly sustainable housing developments is their focus on energy efficiency and cost savings. By incorporating energy-efficient appliances, high-performance insulation, and renewable energy systems such as solar panels and geothermal heating and cooling, these developments significantly reduce energy consumption and utility costs for residents. In addition to lowering monthly expenses, energy-efficient features can also enhance the resale value of homes and contribute to long-term financial stability for homeowners.

Supporting Environmental Conservation and Biodiversity

Eco-friendly sustainable housing developments play a vital role in supporting environmental conservation and biodiversity by preserving natural habitats, protecting wildlife corridors, and restoring native ecosystems. These developments often prioritize green infrastructure, such as native landscaping, green belts, and stormwater management systems, to mitigate the impacts of urbanization and promote biodiversity. By integrating nature into the built environment, eco-friendly housing developments create healthier, more resilient ecosystems that benefit both residents and the surrounding environment.

Fostering Innovation and Collaboration

The development of eco-friendly sustainable housing is a collaborative endeavour that brings together architects, developers, engineers, policymakers, and community stakeholders to create innovative solutions to pressing environmental and social challenges. By fostering interdisciplinary collaboration and embracing innovative technologies and design strategies, eco-friendly housing developments serve as incubators for sustainable innovation and thought leadership, driving positive change in the broader real estate industry and beyond.

The Urgency of Eco-Friendly Housing Development

The rapid expansion of urban areas is exerting tremendous pressure on the environment. As cities grow, they consume vast amounts of resources and generate substantial greenhouse gas emissions. These factors contribute significantly to climate change, air and water pollution, and the loss of biodiversity. Eco-friendly housing development represents a fundamental shift in the way we approach urban living by focusing on sustainability, energy efficiency, and environmentally responsible design.

Key Elements of Eco-Friendly Housing Development

Eco-friendly housing development encompasses a wide range of features and principles aimed at creating sustainable and environmentally responsible living spaces. Some of the key elements include:

  • Sustainable Building Materials: One of the foundations of eco-friendly housing development is the use of sustainable building materials. These materials are typically locally sourced, renewable, or recycled, and they minimize the environmental impact associated with manufacturing and transportation. Examples include bamboo flooring, reclaimed wood, recycled steel, and low-VOC (volatile organic compound) paints.
  • Energy Efficiency: Energy-efficient design is another crucial element. Eco-friendly housing developments incorporate features such as solar panels, energy-efficient windows, and advanced insulation systems to reduce energy consumption. These not only benefit the environment but also lower utility bills for residents.
  • Water Conservation: Water conservation is a vital aspect of eco-friendly housing. Green developments often integrate water-saving technologies like low-flow toilets, rainwater harvesting systems, and drought-resistant landscaping to reduce water consumption and promote sustainable water management.
  • Biophilic Design: Biophilic design principles are gaining prominence in eco-friendly housing development. This approach emphasizes a connection to nature by incorporating natural elements into architectural and interior designs. Features like green roofs, indoor plant walls, and large windows that offer natural light can enhance the well-being of residents while reducing the reliance on artificial lighting and climate control.

Examples of Eco-Friendly Housing Developments

Several cities around the world have embraced eco-friendly housing development as a means to create more sustainable urban environments. These projects serve as examples of innovative and impactful approaches to greening our cities:

  • The Beddington Zero Energy Development (BedZED) — London, UK: BedZED, located in London, is a pioneering eco-friendly housing development that incorporates a range of sustainable features. Designed to be a zero-energy development, BedZED boasts energy-efficient design, renewable energy sources, rainwater harvesting, and waste reduction systems. Its holistic approach to eco-friendly living has made it a model for green housing developments globally.
  • Masdar City — Abu Dhabi, UAE: Masdar City is an ambitious eco-friendly housing development in the United Arab Emirates. It is designed as a carbon-neutral, car-free city powered by renewable energy. With extensive use of solar power, advanced waste management systems, and sustainable building materials, Masdar City sets the bar high for sustainable urban development in arid regions.
  • Vauban — Freiburg, Germany: Vauban in Freiburg, Germany, is a pedestrian-friendly eco-district known for its emphasis on public transportation and sustainable living. The development minimizes the use of personal vehicles by promoting cycling, walking, and public transportation. Additionally, Vauban’s buildings are designed to be highly energy-efficient and incorporate solar panels and green spaces.

Challenges and Opportunities

While the benefits of eco-friendly housing development are evident, the transition to greener housing is not without challenges. Cost considerations, resistance to change, and the need for regulatory support can hinder the widespread adoption of sustainable housing practices. However, these challenges also present opportunities for innovation and growth in the housing sector.

Cost Considerations: One of the primary challenges is the perception that eco-friendly housing development is more expensive than conventional construction. While the initial costs may be slightly higher, long-term savings on energy and water bills often offset these expenses. Moreover, as demand for sustainable housing increases, economies of scale are likely to drive down the costs of eco-friendly building materials and technologies.

Regulatory Support: Government policies play a crucial role in promoting eco-friendly housing development. Incentives such as tax breaks, low-interest loans, and streamlined permitting processes can encourage developers to adopt sustainable building practices. Moreover, governments can establish green building standards and certification programs to ensure that eco-friendly housing developments meet rigorous environmental and social criteria.

Conclusion

Eco-friendly sustainable housing developments represent a visionary approach to residential development that prioritizes environmental stewardship, community well-being, and long-term sustainability. By embracing sustainable principles, promoting energy efficiency, supporting environmental conservation, and fostering innovation and collaboration, these developments are shaping a greener, more sustainable future for generations to come. Whether you’re a homeowner, developer, or community stakeholder, eco-friendly housing developments offer an inspiring vision of what is possible when we come together to create homes and communities that are in harmony with nature and our shared values of sustainability and resilience.

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Commercial Real Estate Brokers Near Me: Your Guide to Expert Property Solutions

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4 hours ago

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April 28, 2024

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Finding the correct commercial real estate broker may have a significant impact on your organisation. They can help you reach your property goals by using their knowledge, network, and negotiation abilities. Whether you live in the United States, Canada, the United Kingdom, Australia, or New Zealand, our directory has identified top brokers in your area who can give experienced solutions for your commercial property needs.

In the dynamic realm of commercial real estate, having the right guidance and expertise can make all the difference in navigating complex transactions, identifying lucrative investment opportunities, and achieving your business objectives. Commercial real estate brokers serve as trusted advisors, leveraging their market knowledge, negotiation skills, and industry connections to help clients achieve their commercial real estate goals. If you’re seeking top-notch commercial real estate brokers near you, this guide will provide valuable insights into finding the right professionals to meet your needs and drive success in your commercial property ventures.

The Importance of Working with Local Brokers

When it comes to commercial real estate, local expertise matters. Working with commercial real estate brokers who have a deep understanding of the local market dynamics, trends, and regulations can provide a distinct advantage in identifying opportunities and navigating the intricacies of commercial property transactions. Local brokers possess valuable insights into market conditions, property values, and investment potential in your area, enabling them to offer tailored advice and strategic guidance that aligns with your specific objectives and preferences.

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Qualities to Look for in Commercial Real Estate Brokers Near You

As you embark on your search for commercial real estate brokers near you, here are some key qualities to consider:

  1. Expertise and Experience: Look for brokers with a proven track record of success in the commercial real estate industry, with expertise in the specific property types and market segments that align with your needs, whether it’s office, retail, industrial, or multifamily properties.
  2. Market Knowledge: Choose brokers who have in-depth knowledge of the local market, including trends, demographics, economic indicators, and regulatory requirements. A deep understanding of the local market dynamics can provide valuable insights into property values, investment opportunities, and potential risks.
  3. Network and Connections: Seek brokers who have established relationships with property owners, developers, investors, lenders, and other industry professionals in your area. A strong network can open doors to exclusive listings, off-market opportunities, and valuable resources to support your commercial real estate endeavors.
  4. Communication and Accessibility: Look for brokers who prioritize clear communication and accessibility, keeping you informed and updated throughout the transaction process. Effective communication is essential for building trust, addressing concerns, and ensuring a smooth and successful real estate experience.
  5. Negotiation Skills: Choose brokers who are skilled negotiators with the ability to advocate for your interests, secure favorable terms, and maximize value in commercial real estate transactions. Strong negotiation skills can make a significant difference in achieving your objectives and achieving successful outcomes.

Finding Commercial Real Estate Brokers Near You

When searching for commercial real estate brokers near you, consider the following strategies:

  1. Referrals: Ask for recommendations from colleagues, business associates, and industry contacts who have experience working with commercial real estate brokers in your area. Personal referrals can provide valuable insights and help you identify reputable professionals.
  2. Online Research: Utilize online resources such as search engines, business directories, and professional networking platforms to research commercial real estate brokers in your area. Review their websites, credentials, client testimonials, and listings to assess their expertise and suitability for your needs.
  3. Industry Associations: Explore industry associations and professional organizations such as the National Association of Realtors (NAR), Commercial Real Estate Development Association (NAIOP), and local real estate boards to find qualified commercial real estate brokers in your area. These organizations often have directories and membership listings that can help you identify reputable professionals.
  4. Local Market Knowledge: Choose brokers who have a deep understanding of the local market dynamics, trends, and regulations. A broker who is well-connected and knowledgeable about the local market can provide valuable insights and guidance tailored to your specific needs and objectives.
  5. Personalized Consultations: Schedule consultations with prospective brokers to discuss your commercial real estate goals, preferences, and requirements. Use these meetings as an opportunity to assess their expertise, communication style, and suitability for your needs.

Conclusion

Finding top commercial real estate brokers near you is essential for navigating the complex landscape of commercial property transactions and achieving your business objectives. By prioritizing expertise, market knowledge, communication, and accessibility, you can identify reputable professionals who can provide valuable guidance and support to help you succeed in your commercial real estate endeavors. Whether you’re buying, selling, leasing, or investing in commercial properties, working with the right broker can make all the difference in achieving successful outcomes and maximizing the value of your real estate investments.

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