Economics 12

Current Events Scrapbook

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Current events are filled with economic issues and problems.

For this assignment you will find two articles related to economics or business and
summarize them using the following criteria:

 The article must be written within the last month.

 Summaries must be atleast 200 words in length
 Must be in your own words (do not copy & paste)
 Find 5 key economic terms in your article and define them in your own
words. Definitions should be one to two sentences in length.
 Save both summaries on one file. Name the file “yournamemonth” (ie
johnsmithjanuary)

Some good sources for articles are:

http://www.cbc.ca/news/business/

http://www.theglobeandmail.com/report-on-business/

http://www.vancouversun.com/business/index.html

** You may use other sources as well; just make sure the articles are current!
The format of your page should be as follows: (19 marks)

Article Headline : It's nearly impossible to find a place to rent. But retirement homes
have room to spare /1
Source: CBC.ca /1
Link to article: https://www.cbc.ca/radio/costofliving/vacancy-rates-higher-
retirement-notes-1.7134445 /1
Date written: March 10, 2024 /1
Key Terms with definitions: /5
1. Vacancy rates: The percentage of available rental units or properties that are
unoccupied and available for rent within a specific geographic area or market
segment, often used as an indicator of the health and demand within the rental
market.
2. Rental market: The economic environment in which rental properties are bought,
sold, and leased, including factors such as supply and demand, rental prices, vacancy
rates, and regulations governing landlord-tenant relationships.
3. Affordability concerns: Refers to the financial challenges individuals or households
face in meeting the costs associated with renting or purchasing housing, often due to
factors such as low income relative to housing costs or limited availability of
affordable housing options.
4. Incentives: Offers or benefits provided by landlords or property managers to attract
tenants or encourage them to sign leases, which may include discounts on rent,
waived fees, free utilities, or other amenities.
5. Intergenerational living arrangements: Housing arrangements that involve
individuals from different age groups living together, typically aimed at fostering
social interaction and mutual support between generations, such as students living
with seniors in retirement homes.
Summary: The article discusses high vacancy rates in retirement homes across
Canada, which contrasts with low rates in the rental market overall. Factors
contributing to this trend include seniors preferring to stay in their own homes due to
costs and a desire for independence. Confusion between retirement homes and long-
term care facilities during the pandemic also affected perceptions. To attract
residents, retirement homes offer incentives like free rent and amenities. Some are
even allowing younger individuals like students to live there. Efforts are underway to
promote intergenerational living arrangements, where students live in retirement
homes at reduced rent in exchange for socializing with seniors. These initiatives aim
to address both the housing needs of students and the social isolation experienced by
many seniors. /10