b"GLOBAL HOUSING NO VACANCY!By Sarah B. HoodThe global housing crunch is puttingextra pressure on relocation professionalsT he housing market is daily newssectors, showing that housing supply andIts taking far longeralmost double for Canadians, with high pricespricing has become a challenge for reloca- the time to locate suitable housing, says squeezing out renters and would- tors, especially in North America and CERC president and CEO Stephen be homeowners alike. But thethe U.K.Cryne. During COVID, a lot of people story doesnt stop at the border:gave up renting their properties. They housing shortages and prohibitive costsWhen the respondents were asked to ranksold them or took up long-term leasing, have become a worldwide phenomenon,various world regions for housing afford- so there is a shortage of properties that is driven partly by COVID-19 uncertainties,ability and availability using a scale fromdriven by the global supply ofand partly by other global currents like theone (poor) to five (excellent), 73 per centaffordable housing.population disruptions stirred up by thereported North America as a one or two. war in Ukraine. The U.K. received the same rating fromMany survey respondents reported 33 per cent of respondents; 27 per centthat this lack of available and afford-CERC's recent Housing Affordabilityranked the Asia Pacific region likewise,able housing options is affecting both and Availability Survey polled reloca- and 13 per cent gave the same ranking todomestic and international global mobility tion professionals across a wide range ofcontinental Europe. programs. For permanent relocations,24PERSPECTIVES Winter 2022"