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<ul><li>Campa is targeting the growing market of downtraders by pricing its soft drinks attractively. </li><li>When you are drinking a cola, you are not just consuming a soft drink, you are consuming a branded experience, says Ambi Parameswaran, branding guru and author. </li><li>Campa has to get its distribution right and match the width of distribution that other colas have today, says Harish Bijoor, branding expert. </li></ul><keyword id="15793554" type="General" weightage="20" keywordseo="reliance-consumer" source="Orion">Reliance Consumer</keyword>’s Campa Cola relaunch at an invitation price of 200 ml at ₹10, and 500 ml at ₹20 – is clearly aimed at taking on rivals Coca-Cola and Pepsi head-on. Reliance is a master at disrupting existing categories with its entry level pricing and innovative marketing models. Just recall the launch of Jio’s high speed broadband mobile services in 2016 for free. The <a href="https://www.businessinsider.in/retail/news/reliance-brings-back-the-iconic-campa-beverage-brand/articleshow/98520789.cms">launch of Campa-Cola</a> is right not just from the season point of view but also because the <a href="https://www.businessinsider.in/finance/article/inflation-burns-a-hole-in-the-pockets-of-indias-lower-income-households-from-fmcg-goods-flip-flops-to-crackers-consumption-takes-a-backseat/articleshow/95536971.cms">heat of inflation has burned a hole </a>in the pockets of Indians. In the last six months, many Indians, both rural and urban, have been hit by high inflation and have been downtrading – that’s shifting to cheaper brands or even going for unbranded products. The FMCG market is in the most price-sensitive state it has even been in the last few years. Campa is targeting this growing market of downtraders, at a price that’s almost half of what other cola brands offer. “Yes, it caters to this trend,” agrees Harish Bijoor, founder of a consultancy firm, Harish Bijoor Consults, adding, “There is relevance for a lower-priced cola – a local cola with a friendly price versus an MNC cola with MNC prices.” “Penetration pricing can boost Campa’s traction among the price-sensitive Indian masses, especially in the rural markets. The aggressive pricing will magnify the impact of the relaunch amid the cost-of-living crisis, as 68% of Indian consumers are extremely concerned about the impact of inflation on their household budget,” says Bobby Verghese, consumer analyst at GlobalData. Price matters, but brand matters too Ambi Parameswaran, branding guru, author, and the former head of FCB Ulka, however, believes that it’s hard to beat established brands like Coca-Cola and Pepsi with a pricing strategy alone. “When you are drinking a cola, you are not just consuming a soft drink, you are consuming a branded experience. There have always been lower priced and local colas in the market but they found limited success. They (Reliance) will have to bring in celebrities and invest big money in marketing,” he adds. Reliance has launched Campa across three different flavours – cola, lemon and orange — which covers the entire gamut of soft drinks. “They launched one unified brand across flavours and that might work,” opines Parameswaran. Reliance also went with the slogan ‘The Great Indian Taste’ as it relaunched an iconic brand Campa which was once competitor to Parle’s Goldspot, Thums Up and Limca – the last two ended in the kitty of Coca-Cola, which made its comeback in the ‘90s. Campa, however, could not withstand the growing competition of Pepsi and Coca-Cola, and shut shop in 2000-01. After it was acquired in August last year, it’s Campa that now has a moneyed backer with marketing muscle and a giant retail footprint of 17,225 stores, offline. Reliance also retails groceries and more online and launched sales via WhatsApp six months back. It also owns a stake in Dunzo – a quick commerce retailer. “Reliance can also leverage its own offline retail and e-commerce stores to quickly narrow the gap with Coca-Cola and PepsiCo’s nationwide distribution networks and bolster Campa’s market penetration. In terms of pricing, Reliance Consumer can go toe-to-toe with multinational operators,” said Francis Gabriel Godad, business development manager, GlobalData India. Where is the footprint? Yet, the cola market is like no other FMCG brand. With the need for refrigeration and a rock solid distribution channel that Coca-Cola and Pepsi have built for years – this might be a tough act to follow if not break. “It’s not just pricing. They have to get distribution right and match the width of distribution that other colas have today. Colas retail differently – most of them are sold out of kirana stores, dhabas and others,” explained Bijoor. Reliance Retail’s footprint can drive the sales of large soda packages. “At home consumption only contributes to 20% of cola sales. The rest is purchased on-the-go,” says Parameswaran. Moreover, Pepsi and Coca-Cola have built their empires on the theory of exclusivity. For example, McDonald’s retails Coca-Cola (only) at its outlets and Burger King goes with Pepsi. In India, these brands have ‘owned’ dhabas and small-time restaurants where either of the brands’ products are retailed extensively. Since this is where most Indians eat, it also helped them make colas a part of Indian meals which matches with biryanis as easily as it does with burgers. Thanks to extensive marketing campaigns, they penetrated rural markets, killed local goli soda businesses and have become the ‘thanda’ of choice. Colas and cricket The third dimension of the cola business after price and distribution, is the ‘taste’. Even today, Thums Up is perceived as the ‘strong’ cola, with the other two colas close behind. Bijoor and Parameswaran say that with colas, it’s more about the brand than the taste and few people can recognize cola brands in a blind tasting. Yet, consumers tend to buy the brand they feel they like the most. Godad says that Campa can build a similar recall as it announced plans to launch an intensive marketing campaign at the Indian Premier League (IPL) 2023 – the cricket tournament with a viewership of over 200 million. This too is a page out of Pepsi’s playbook which has had popular brand ambassadors among cricketers like Sachin Tendulkar and more. At one point in time, it even engaged almost all of the Indian cricket squad to the 2003 world cup in South Africa including Sourav Ganguly, Rahul Dravid, Harbhajan Singh and more in its ads. Reliance Consumer intends to bring similar energy into its marketing. “Reliance’s branding activity during the (IPL) event will thereby amplify Campa’s mass-market awareness in the cricket-loving nation. Moreover, as the official sponsor of the popular ‘Mumbai Indians’ IPL team, Reliance Group can rope in popular cricketers as brand ambassadors. This is a powerful marketing strategy given that endorsements by celebrities or organizations are an essential feature that 29% of Indians actively look for when purchasing products, according to GlobalData’s 2022 survey,” says Godad. In addition to all, Reliance is also not building a ‘new brand’ either, it is bringing back an old brand with nostalgia value that still rings a bell with Gen Xers and millennials — that’ll send at least a few to try a brand they once loved. SEE ALSO <a href="https://www.businessinsider.in/business/news/millennials-want-the-security-of-their-own-roof-over-heads-finds-cbre/articleshow/98120129.cms">Millennials want the security of their own roof over heads, finds CBRE</a> <a href="https://www.businessinsider.in/business/news/healthcare-consumer-goods-minted-the-most-indian-dollar-billionaires/articleshow/98913863.cms">Healthcare, consumer goods minted the most Indian dollar billionaires</a>

Campa has to go beyond invitation price to build the brand & distribution network

<ul class="summary-list"><li>US homebuyers need to make $114,000 a year to afford a median-priced home, Redfin says.</li><li>Analysts said median home prices have risen twice as fast as the increase in median household incomes in the last year. </li></ul>Mortgage rates have eased from multi-decade highs hit late last year, but housing affordability hasn't improved much in 2024. <a href="https://www.redfin.com/news/income-needed-to-afford-home-february-2024/" target="_blank" rel="noopener">According to Redfin</a>, prospective buyers in the US need to make $114,000 a year to afford the median-priced home. That's 35% more than the typical US household median income of $84,072. While that income level is an improvement from last October when buyers needed to earn $121,000, the latest number marks the biggest year-over-year surge since August. It's also a 39% jump from February 2022, and 74% higher than February 2021."For over a decade, America has been slowly marching toward a housing affordability crisis due to chronic underbuilding, and that crisis was kicked into overdrive when the pandemic homebuying boom fueled a meteoric rise in housing prices," said Redfin senior economist Elijah de la Campa. <div type="image" title="Homebuyers need to make 12% more than a year ago to afford typical home" height="1026" width="1368" msid="108799289" hostid="261" sizebytes="38572"></div>In terms of location, buyers in San Antonio, Texas only needed to earn 1% more than last year to afford a typical home in February – the smallest increase among metro areas. On the flip side, buyers in Anaheim, California were hit by the nation's biggest housing affordability crunch, as they needed 20% more income compared to the previous year.The median home price has climbed twice as much as the 6% rise in median household income over the past year. Redfin said. "We're slowly climbing our way out of an affordability hole, but we have a long way to go. Rates have come down from their peak, and are expected to fall again by the end of the year, which should make homebuying a little more affordable and incentivize buyers to come off the sidelines," Campa said. <div type="image" title="Homebuying costs are growing twice as fast as incomes" height="1144" width="1654" msid="108799291" hostid="261" sizebytes="52130"></div>

Housing affordability has improved, but not by much

<ul class="summary-list"><li>In 2023, only 15.5% of homes were affordable for the typical household, per Redfin.</li><li>That's down from 20.7% in 2022 and the lowest share ever for Redfin records going back to 2013.</li></ul>This year was the least affordable year for the US housing market on record, based on <a href="https://www.redfin.com/news/share-of-homes-affordable-2023/" target="_blank" rel="noopener">Redfin</a> data going back to 2013.In 2023, 15.5% of homes were affordable for the typical US household. That dropped from 20.7% in 2022, and is down from 40% in 2019 before the pandemic buying boom. The real estate group analyzed 97 of the most populous US metro areas. It determined affordability based on the estimated monthly mortgage payment being no more than 30% of the local county's median income. <div type="image" title="Redfin affordable housing home listings drop from 2022" height="847" width="1240" msid="106189639" hostid="261"></div>But it's not just the share of affordable housing that fell. At the same time, the total number of affordable options on the market tumbled from 596,135 in 2022 to 325,500 in 2023 — a 41% drop.In part, the decline stems from a 21.2% drop in listings, according to Redfin. But stubbornly high mortgage rates and home prices made the listings that did come to market more expensive.High mortgage rates in particular have kept current homeowners unwilling to move, which in turn has reduced the number of available homes on the market for prospective buyers.That's boosted home prices and left house hunters competing for a limited number of options.Still, Redfin senior economist Elijah de la Campa anticipates affordability to improve in 2024."Many of the factors that made 2023 the least affordable year for homebuying on record are easing," de la Campa said. "Mortgage rates are under 7% for the first time in months, home price growth is slowing as lower rates prompt more people to list their homes, and overall inflation continues to cool. We'll likely see a jump in home purchases in the new year as buyers take advantage of lower mortgage rates and more listings after the holidays."

This year's housing market was the least affordable since 2013

<ul class="summary-list"><li>US housing supply rose a record 14% in July, according to data from Redfin.</li><li>A record number of buyers backed out of purchase deals in July due to high costs and economic worries.</li></ul>Homebuyers in the US are getting cold feet as prices remain elevated, backing out of deals at a record rate and pushing up the supply of available homes. Active home listings rose a record 13.7% year over year in July, according to a report from Redfin.That increase is mostly due to a record 59,000 canceled home-purchase agreements during the month, accounting for 15.8% of all homes under contract, as homebuyers face high costs and economic uncertainty.Mortgage rates, meanwhile, are <a target="_blank" href="https://www.businessinsider.com/mortgage-rates-30-year-refinance-applications-real-estate-housing-market-2024-8">touching annual lows</a>, but home prices remain just 0.7% shy of June's all-time high median price of $442,389, the report said."When rates finally dropped, buyers got excited and we saw more activity. But now that rates have fallen to the mid-6%-range, people have been waiting to see if they'll drop even more," Nicole Stewart, a Redfin real estate agent, said.Stewart also cited buyers' concerns over the upcoming presidential election, though she says the result won't greatly impact the housing market.Many homebuyers are likely waiting to see if mortgage rates will drop more, as investors are forecasting a 100% chance that the Federal Reserve will start cutting interest rates in September, according to the <a target="_blank" href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">CME FedWatch tool</a>.But Redfin's senior economist Elijah de la Campa said waiting for lower rates isn't a guaranteed strategy."If you have the means to buy and have been thinking about doing so, now actually might not be a bad time," de la Campa said. "That's because mortgage rates have fallen enough to boost your purchasing power, but not enough to bring tons of buyers off of the sidelines and drive up competition."The increase in active listings comes even as new home construction dropped 6.8% month-over-month in July, hitting its lowest level since 2020, according to data from the <a target="_blank" href="https://www.census.gov/construction/nrc/current/index.html">Commerce Department</a>.

Housing supply is surging as a record number of buyers get cold feet amid sky-high prices, Redfin says

<ul class="summary-list"><li>The income homebuyers need to afford the typical home just saw its first annual decline since 2020.</li><li>That decline comes as mortgage rates have steadily dipped, a Redfin report says.</li></ul>US homebuyers are finally getting a bit of good news. The income buyers need to afford the median-priced home has dropped by 1.4% in the first annual decline since June 2020, a <a target="_blank" class="" href="https://www.redfin.com/news/income-needed-to-afford-home-drops-2024/">Redfin report</a> said.Homebuyers now need an annual income of $115,454 to afford the median priced home of $433,101.That follows years of declining affordability as mortgage rates soared after hitting historic lows in 2020. The 30-year mortgage rate saw its first annual decline in three years last month, <a target="_blank" href="https://www.businessinsider.com/mortgage-rates-30-year-refinance-applications-real-estate-housing-market-2024-8">falling to 6.5%</a> from 7.07% the year prior. The rate has now settled at 6.09%.But buyers are still <a target="_blank" href="https://www.businessinsider.com/mortgage-rates-nar-real-estate-agent-buyers-home-prices-redfin-2024-8">sticking to the sidelines</a>, Redfin says.Homebuyers are likely waiting for mortgage rates to fall even further as the Federal Reserve is expected to continue cutting interest rates after its initial <a target="_blank" class="" href="https://www.businessinsider.com/fed-cuts-interest-rates-how-much-september-fomc-powell-inflation-2024-9">big 50 basis point cut</a> last week.But the market has already priced in cuts, so mortgage rates likely won't continue their downward slide even with further Fed easing, Redfin's researchers say."The Fed's latest interest rate cut and its plans for future cuts were highly anticipated, meaning they're already mostly priced into mortgage rates," Redfin economist Elijah de la Campa said."When the Fed cuts short-term interest rates, long-term rates like mortgage rates don't always move down nearly as much," he added.And even with lower borrowing costs, home prices are still at historically high levels, the researchers say.Redfin considers a home affordable if its monthly mortgage payment accounts for no more than 30% of a buyer's income. But with the typical household earning an estimated $83,853 per year, that's 41.3% of earnings spent on housing to buy the median priced home.That makes less than one-third of home listings affordable for the typical U.S. household, down from more than half before the pandemic, the researchers say.But some sellers are <a target="_blank" href="https://www.businessinsider.com/housing-market-home-prices-falling-buying-a-home-outlook-supply-2024-9">slashing prices</a> as they see their homes sit on the market for longer, because even with the annual uptick in affordability, existing home sales have <a target="_blank" class="" href="https://www.businessinsider.com/home-sales-buyers-rate-cuts-federal-reserve-mortgage-redfin-interest-2024-9">plunged to their lowest since the pandemic</a>.The researchers say now is likely a good time to enter the market, because the slightly improved affordability conditions might not last for that long."Housing affordability is improving for the first time in four years, so if you want to buy a home and can afford to, now could be a good time because it's unlikely to become markedly cheaper in the near future," de la Campa said.Buyers might look in particular at Texas, where three metros—Austin, San Antonio, and Fort Worth—were among the top five US cities seeing the biggest rises in home affordability.

Buying a home just got more affordable for the first time in 4 years

<ul class="summary-list"><li>Mortgage rates stayed high despite rate cuts, attracting cash-heavy investors to the housing market.</li><li>Despite values dropping in some areas, those selling are still raking in gains.</li></ul>Despite the central bank cutting interest rates, mortgage rates haven't followed suit. The average <a target="_blank" class="" href="https://www.businessinsider.com/personal-finance/mortgages/average-mortgage-interest-rate">30-year term remains near 6.21%</a>.Still, there was an uptick in buyers during the second quarter, specifically those who are <a target="_blank" class="" href="https://www.businessinsider.com/personal-finance/investing/how-to-invest-in-real-estate-make-money">investors</a>, according to the latest data available from Redfin. The share of investors who purchased property rose 3.4% from a year earlier. They were likely attracted by an opportunity to meet the growing demand of renters who face barriers to homeownership that a lack of affordability and elevated mortgage rates have brought on, read the note by Lily Katz.Home prices nationwide, including those that were <a target="_blank" class="" href="https://www.businessinsider.com/personal-finance/mortgages/how-to-buy-a-foreclosed-home">distressed sales</a>, increased by 4.3% in July from a year ago, according to CoreLogic. An investor purchased one out of every six properties sold within the second quarter and one of every four low-priced homes for a whopping $43 billion worth of real estate, Katz wrote.Investors, which the real estate data firm defines as buyers whose ownership code on a purchasing deed includes either association, corporate trustee, company, joint venture, or corporate trust, are less reliant on debt and are not as rate-sensitive as the average buyer. Most, or 69%, pay in cash or make bigger down payments. It means they can take advantage of the lack of competition.Some of the cities that have seen a rise in investor interest include San Jose, CA, Portland, OR, and Denver, CO. Meanwhile, there has been a drop in purchases in areas like Oakland, CA, and Providence, RI, where median capital gains have plunged by 20% and 37% respectively.The chart below demonstrates the change in investor purchases over the last two decades. It shows upticks following the housing bubble crash and in the years that followed the pandemic.<div type="image" title="Chart demonstrates eb and flow of real estate investor activity." height="834" width="1626" msid="114377796" hostid="261" sizebytes="34338"></div>But whether they're buying or selling, investors have been doing quite well regarding capital gains, says Elijah de la Campa, a senior economist at Redfin. This was not the case in the years leading up to the housing crisis, where property owners were losing from selling."I still see the opportunity for making money on my investments and making a considerable amount of money with 30%, 40% price increases relative to the prior year," de la Campa said. "While things might be more challenging in certain places, overall it looks like there are still lots of opportunities to make money at buying and selling homes as an investor. "He added that even the cities seeing a retreat in their capital gains from a year ago are still profitable at their sale; they're just not going for as much as they would have last June.Below is a list of the 39 major metro areas in descending order of median capital gains over the past year into June. What stands out most to de la Campa is that many areas with the highest capital gains are affordable, particularly Philadelphia and Warren, MI.<table style="minWidth: 50px"></colgroup></colgroup><tbody><tr><td>Region</td><td>Median % Capital Gain YoY (pps)</td></tr><tr><td colspan="1" rowspan="1">Philadelphia, PA</td><td colspan="1" rowspan="1">37.70%</td></tr><tr><td colspan="1" rowspan="1">Warren, MI</td><td colspan="1" rowspan="1">36.80%</td></tr><tr><td colspan="1" rowspan="1">San Jose, CA</td><td colspan="1" rowspan="1">24.50%</td></tr><tr><td colspan="1" rowspan="1">Newark, NJ</td><td colspan="1" rowspan="1">20.80%</td></tr><tr><td colspan="1" rowspan="1">San Francisco, CA</td><td colspan="1" rowspan="1">15.70%</td></tr><tr><td colspan="1" rowspan="1">Detroit, MI</td><td colspan="1" rowspan="1">15.00%</td></tr><tr><td colspan="1" rowspan="1">Baltimore, MD</td><td colspan="1" rowspan="1">6.60%</td></tr><tr><td colspan="1" rowspan="1">Portland, OR</td><td colspan="1" rowspan="1">6.40%</td></tr><tr><td colspan="1" rowspan="1">Anaheim, CA</td><td colspan="1" rowspan="1">5.60%</td></tr><tr><td colspan="1" rowspan="1">Chicago, IL</td><td colspan="1" rowspan="1">4.70%</td></tr><tr><td colspan="1" rowspan="1">Fort Lauderdale, FL</td><td colspan="1" rowspan="1">4.40%</td></tr><tr><td colspan="1" rowspan="1">Los Angeles, CA</td><td colspan="1" rowspan="1">4.30%</td></tr><tr><td colspan="1" rowspan="1">Seattle, WA</td><td colspan="1" rowspan="1">3.70%</td></tr><tr><td colspan="1" rowspan="1">Phoenix, AZ</td><td colspan="1" rowspan="1">-0.30%</td></tr><tr><td colspan="1" rowspan="1">Columbus, OH</td><td colspan="1" rowspan="1">-0.40%</td></tr><tr><td colspan="1" rowspan="1">Milwaukee, WI</td><td colspan="1" rowspan="1">-1.50%</td></tr><tr><td colspan="1" rowspan="1">Las Vegas, NV</td><td colspan="1" rowspan="1">-2.20%</td></tr><tr><td colspan="1" rowspan="1">New Brunswick, NJ</td><td colspan="1" rowspan="1">-3.10%</td></tr><tr><td colspan="1" rowspan="1">Tampa, FL</td><td colspan="1" rowspan="1">-4.00%</td></tr><tr><td colspan="1" rowspan="1">Cleveland, OH</td><td colspan="1" rowspan="1">-5.50%</td></tr><tr><td colspan="1" rowspan="1">Cincinnati, OH</td><td colspan="1" rowspan="1">-6.10%</td></tr><tr><td colspan="1" rowspan="1">Minneapolis, MN</td><td colspan="1" rowspan="1">-6.60%</td></tr><tr><td colspan="1" rowspan="1">Miami, FL</td><td colspan="1" rowspan="1">-7.70%</td></tr><tr><td colspan="1" rowspan="1">Orlando, FL</td><td colspan="1" rowspan="1">-8.60%</td></tr><tr><td colspan="1" rowspan="1">San Diego, CA</td><td colspan="1" rowspan="1">-9.70%</td></tr><tr><td colspan="1" rowspan="1">Sacramento, CA</td><td colspan="1" rowspan="1">-11.50%</td></tr><tr><td colspan="1" rowspan="1">West Palm Beach, FL</td><td colspan="1" rowspan="1">-11.50%</td></tr><tr><td colspan="1" rowspan="1">Atlanta, GA</td><td colspan="1" rowspan="1">-14.80%</td></tr><tr><td colspan="1" rowspan="1">Washington, DC</td><td colspan="1" rowspan="1">-15.00%</td></tr><tr><td colspan="1" rowspan="1">Denver, CO</td><td colspan="1" rowspan="1">-15.30%</td></tr><tr><td colspan="1" rowspan="1">Charlotte, NC</td><td colspan="1" rowspan="1">-16.00%</td></tr><tr><td colspan="1" rowspan="1">Nashville, TN</td><td colspan="1" rowspan="1">-17.90%</td></tr><tr><td colspan="1" rowspan="1">Riverside, CA</td><td colspan="1" rowspan="1">-18.20%</td></tr><tr><td colspan="1" rowspan="1">Jacksonville, FL</td><td colspan="1" rowspan="1">-18.70%</td></tr><tr><td colspan="1" rowspan="1">Oakland, CA</td><td colspan="1" rowspan="1">-20.10%</td></tr><tr><td colspan="1" rowspan="1">Montgomery County, PA</td><td colspan="1" rowspan="1">-26.60%</td></tr><tr><td colspan="1" rowspan="1">Virginia Beach, VA</td><td colspan="1" rowspan="1">-28.40%</td></tr><tr><td colspan="1" rowspan="1">New York, NY</td><td colspan="1" rowspan="1">-29.10%</td></tr><tr><td colspan="1" rowspan="1">Providence, RI</td><td colspan="1" rowspan="1">-37.30%</td></tr></tbody></table>

Investors are piling into real estate as values skyrocket by up to 38%. 13 metros with the highest gains, and 25 that are plunging.

Havana, May 6 (AP) Rarely used in Latin America outside hospitals before the coronavirus pandemic, face masks are now compulsory for subway riders, supermarket shoppers and even joggers in some countries - and they're becoming a colorful part of the region's daily life.Motifs showing up on masks are varied, often reflecting local cultures. There are lucha libre-themed masks in Mexico, logos of soccer clubs in Argentina, Batman characters in Peru and colorful swimsuit prints in Colombia.Some activists sport masks with political statements."It's a garment that has a strong visual impact," says Lauren Fajardo, one of the owners of Cuban fashion brand Dador. "It is also a way to express yourself. I don't even have to talk for someone to see what I'm trying to say with my face mask." When the virus first started to spread in Latin America, pharmacies quickly ran out of conventional face masks, pushing up prices and even forcing medical personnel to go without them. But with lockdowns putting the brakes on business activity, local manufacturers reacted quickly, and grassroots producers also jumped in.In Havana, women working at home on their sewing machines used leftover fabric to make free face masks for neighbours. In Rio de Janeiro, samba schools suspended production of flashy Carnival costumes and began churning out colourful masks.Guatemalan President Alejandro Giammattei appeared on television wearing a mask emblazoned with the country's name, and his government commissioned the production of 4 million of the masks that were handed out for free.In Peru's capital, designer Jhon Sanchez stopped printing designs on mugs and T-shirts, and used his equipment to make face masks with patriotic slogans like "Resist Peru" or with the logos of institutions like the national police force."My previous production ground to a halt," Sanchez said. "So I started to make face masks that had an added value - like messages that keep people positive." More than 40 fashion companies in Colombia are producing masks, including several swimwear brands whose bikinis usually sell for USD 100 through US retailers like Nordstrom's, Bloomingdales and Amazon. The masks are made with the same colorful prints of toucans, jaguars, hummingbirds and other tropical motifs as the swimsuits."We wanted to be part of what is happening in the world right now" said Carolina Ordonez, chief designer at Palo Rosa beachwear, a Bogota company with 15 seamstresses. "We also needed to find work for the people who sew for us, so we are reinventing ourselves." In Bolivia, the Mujeres Creando feminist association is making masks that emphasize womens' rights. "Staying at home is not the same as staying quiet," says one message.Many entrepreneurs think masks will be popular for some time."They're here to stay," said designer Leon Campa, who runs Benik, a Mexican company that makes colorful wallets, pencil cases and backpacks inspired by the country's cultural motifs. The company, based in the central state of Guanajuato, now makes 500 face masks each day that feature similar prints.Campa expects masks to continue evolving."Shoes would be a good comparison," he said. "You can live without them, but using them provides benefits, and they've evolved in all kinds of sizes, styles, colors and materials." (AP) MRJ

In Latin America, face masks become a form of expression

<ul class="summary-list"><li>Just 2.5% of homes have swapped hands over the first eight months of 2024, a new Redfin analysis found.</li><li>That's the lowest turnover rate the market has seen in at least three decades, the firm estimated.</li></ul>The housing market is seeing its lowest turnover rate in decades — a sign that mortgage rates and home prices may still be too high to convince buyers to get off the sidelines, according to a new <a target="_blank" class="" href="https://www.redfin.com/news/home-sales-turnover-2024/">report from Redfin</a>.The real-estate-listings site found that just 2.5% of all US homes swapped hands in 2024, through August. That's the lowest turnover rate for any first-eight-month period in at least 30 years, the firm said, comparing the current housing environment to the early- to mid-90s.In that era, home sales were at similar levels, though the total supply of homes was larger, which suggests a higher turnover rate, the report added.Homes have changed hands at the slowest past so far this year in Los Angeles, with just 15.2 sales recorded for every 1,000 homes in the city. Boston and San Francisco followed, with 15.6 and 16.6 sales recorded for every 1,000 homes, respectively.The share of homes being listed for sale has also slumped to its lowest level in over a decade. 32 out of every 1,000 homes in the US were listed in the first eight months of the year, the lowest tally for the period since at least 2012, the analysis added.Buyers are still hesitant to dip into the market, likely due to still-high mortgage rates and home prices, as well as uncertainty in the economic and political environment, the firm said."Mortgage rates have already fallen more than one percentage point from their 2024 peak, but we have not seen a significant increase in the number of homes changing hands. Of the homes listed this year, many of gone stale because of the last of demand," Elijah de la Campa, a Redfin senior economist, said in a note. "With the majority of homeowners locked into low mortgages, rates will need to keep falling consistently for many to feel comfortable moving on from the deals they secured years ago."Mortgage rates have slid lower in recent months, but remain above well-above their pandemic-era norms. The 30-year fixed rate <a target="_blank" href="https://freddiemac.gcs-web.com/news-releases/news-release-details/30-year-fixed-rate-mortgage-reaches-lowest-level-two-years?_gl=1*1nisouc*_gcl_aw*R0NMLjE3Mjc2OTY5NDkuQ2p3S0NBaUF1NWFnQmhCekVpd0FkaVI1dEVwWWJpcmsxWENKb1gySEZuYlZuSDh1Q01VdXhrWmozc1dUdHhYejRTdmpPeWh1b1hDNFB4b0NSVklRQXZEX0J3RQ..*_gcl_au*NDIyNzc0OTQwLjE3MjQyNDc2NDU.&amp;_ga=2.107316811.878946009.1727696943-937341129.1716468777&amp;_gac=1.217239012.1727696943.CjwKCAiAu5agBhBzEiwAdiR5tEpYbirk1XCJoX2HFnbVnH8uCMUuxkZj3sWTtxXz4SvjOyhuoXC4PxoCRVIQAvD_BwE">hovered around 6.08%</a> the last week, according to Freddie Mac data.With the majority of homeowners with a mortgage <a target="_blank" href="https://www.businessinsider.com/personal-finance/mortgages/will-mortgage-rates-go-down-this-year">having a rate below 6%,</a> that means there's still an imbalance of supply and demand on the market — a factor that pushed home prices in the US to <a target="_blank" href="https://www.businessinsider.com/us-housing-market-home-prices-record-case-shiller-affordability-mortgage-2024-9">another fresh record</a> in July.Most housing economists expect mortgage rates to tread slightly, but not dramatically, lower in the coming months. Previously, Redfin <a target="_blank" class="" href="https://investors.redfin.com/news-events/press-releases/detail/1014/redfin-predicts-2024-will-be-the-year-homebuyers-catch-a#:~:text=Overall%2C%20Redfin%20expects%204.3%20million,as%20the%20year%20goes%20on.">estimated</a> that the 30-year fixed rate would end 2024 above 6%. Homes sales, meanwhile, could notch 4.3 million by the end of the year, a 5% boost from last year's levels, it added.

US homes are turning over at the lowest rate in 30 years

<h2>The races and the stakes: </h2><keyword id="11892889" type="UNKNOWN" weightage="60" keywordseo="california" source="Orion">California</keyword>'s June 7 primary will feature plenty of fireworks and maybe a few surprises. It features a high-profile governor's race and the most important mayor's race in the country this year. Polls are now closed in California, and results will begin to trickle in over the next several hours, or even days.Democratic Gov. <keyword id="11909866" type="UNKNOWN" weightage="60" keywordseo="gavin-newsom" source="Orion">Gavin Newsom</keyword>, who <a href="https://www.businessinsider.com/gavin-newsom-california-gubernatorial-recall-election-landslide-win-2021-9">thwarted a recall effort</a> last year, will run for a second term. And <keyword id="11940480" type="UNKNOWN" weightage="60" keywordseo="los-angeles" source="Orion">Los Angeles</keyword> Democrats will decide between a longtime House member and a billionaire former Republican to run the nation's second-biggest city.California has a nonpartisan, top-two primary system, meaning that the top two vote-getters in each primary advance to the general election, regardless of party.The state also holds its <keyword id="11931743" type="UNKNOWN" weightage="60" keywordseo="elections" source="Orion">elections</keyword> almost entirely by mail, meaning that it could take several days for officials to tally the election results.GovernorNewsom handily brushed off a recall effort last year and strode into his state's June 7 primary with confidence. He will face Republican state Sen. Brian Dahle in the fall, Decision Desk HQ projects. The<a href="https://www.latimes.com/california/story/2022-05-31/california-primary-governor-candidates-gavin-newsom"> large field of candidates</a> lining up for the second slot on November's ballot all trail Newsom significantly in fundraising and name recognition, including Dahle; management consultant Jenny Rae Le Roux, a Republican; and homeless advocate and Independent <a href="https://www.wsj.com/articles/michael-shellenberger-beat-gavin-newsom-california-governor-gubernatorial-election-housing-energy-homelessness-school-choice-11652107572">Michael Shellenberger</a>. Republicans have not won a gubernatorial election in California since Arnold Schwarzenegger was reelected in 2006.Lt. GovernorCalifornia Lt. Gov Eleni Kounalakis, a Democrat, is expected to coast to her party's nomination this year as she seeks a second term. Her opponents include Republicans David Fennell and Clint W. Saunders, as well as Democrats Jeffrey Highbear Morgan and William Cavett Saacke.Attorney GeneralGov. Gavin Newsom appointed the incumbent attorney general, Rob Bonta, after his predecessor, Xavier Becerra, joined President Joe Biden's cabinet. Now, Bonta, a Democrat, is running for a full term as the state's top prosecutor.While Bonta should be able to clinch the Democratic nomination, Californians are increasingly concerned about crime and homelessness. Republican challenger Nathan Hochman, who served in the Justice Department under George W. Bush, and Independent Anne Marie Schubert, the Sacramento County district attorney, are vying to take on Bonta in November.US SenateSen. Alex Padilla, a Democrat, is running simultaneously to finish his Senate appointment until 2023, and for a full Senate term ending in 2029.Padilla was appointed by Newsom to fill Kamala Harris' seat when Joe Biden chose her as his vice president.Padilla is expected to be the Democratic nominee in both contests. Republican Mark Meuser is also challenging Padilla in both contests.<h2>Mayoral Races</h2>Los Angeles MayorThe Los Angeles mayor's race is the top local race in the country, due to the massive scope of the job and the political intrigue that surrounds the field. The stakes are also high: Anyone who <a href="https://www.businessinsider.com/la-mayor-race-50-percent-plus-one-win-during-primaries-2022-5">gets more than 50 percent of the vote in the primary can win the election outright</a>; if no single candidate gets a majority of the vote, then the top two candidates advance to the November election.For months, Rep. <keyword id="12097682" type="UNKNOWN" weightage="60" keywordseo="karen-bass" source="Orion">Karen Bass</keyword>, the longtime Los Angeles congresswoman, was presumed to be the Democratic frontrunner. But billionaire developer and former Republican <keyword id="14138911" type="UNKNOWN" weightage="60" keywordseo="rick-caruso" source="Orion">Rick Caruso</keyword> stormed into the race, blanketing the city with advertising and quickly racking up support by focusing on homelessness and crime.Watch to see whether one of these candidates wins the election outright, or if the race will extend until November.San Jose MayorThe race to represent this city, situated at the southern point of San Francisco Bay, is shaping up to be one of the most expensive in its history, <a href="https://sanjosespotlight.com/follow-the-money-san-jose-2022-mayoral-and-city-council-races-election/">according to the San Jose Spotlight.</a>Top candidates include Santa Clara County Supervisor Cindy Chavez, and San Jose City Councilman Matt Mahan, <a href="https://sanjosespotlight.com/spending-in-san-jose-mayoral-race-exceeds-1-million-mayor-campaign-contributions-donations-political-action-committee-pac-election-2022/">who have both been the beneficiaries of an influx of PAC money.</a>Long Beach MayorSix candidates are vying to lead Long Beach, the seventh-largest city in California. The frontrunners in the race are city council members Suzie Price and Rex Richardson.A poll<a href="https://img.lbpost.com/wp-content/uploads/2022/05/27153239/The-Long-Beach-Center-on-Urban-Politics-Policy-Poll-May-2022-Results-May-27-FINAL-Election-Contests-Release.pdf"> released</a> last month by the Long Beach Center for Urban <keyword id="11893346" type="UNKNOWN" weightage="100" keywordseo="politics" source="Orion">Politics</keyword> and Policy at Cal State Long Beach showed the two candidates locked in a tight race, with Richardson at 23.4 percent and Price with 22.5 percent support. Other candidates in the race include J. Raul Cedillo, Deb Mozer, Joshua Rodriguez, and Franklin Sims.State Assembly racesDemocrats currently have a supermajority in the California State Assembly, holding 58 out of the 80 seats, and both parties are targeting several key races across the state. District 22The swing district, anchored around the Central Valley city of Modesto, will host an open-seat contest.Stanislaus County public defender Jess Self and longtime state legislative aide Chad Condit are running as Democrats, while Stanislaus County Sheriff sergeant Juan Alanis and San Joaquin Council of Governments regional planner Joel Campos are competing as Republicans. District 27Madera, Merced, and northwest Fresno make up a bulk of this key open-seat majority-Latino district. Fresno council members Mike Karbassi and Esmeralda Soria are running as Democrats, while former Merced County Sheriff Mark Palin and agriculture retailer Amanda Fleming are the GOP candidates. District 70 This district — which includes portions of both Los Angeles and Orange counties and the neighborhoods that make up Little Saigon — was drawn to ensure representation for the area's large Vietnamese-American population.Janet Nguyen, the Republican incumbent, chose to run for the Senate, and four Vietnamese-American candidates have emerged as the leading candidates.Westminster Mayor Tri Ta, Westminster city council member Kimberly Ho, and Fountain Valley City Council member Ted Bui are running as Republicans, while Democrats have coalesced around Garden Grove city council member Diedre Thu-Ha Nguyen. District 76In the northern reaches of San Diego County, Republicans for generations were a dominant force. However, the last decade saw Democratic gains that mirrored many affluent counties across the country during the Trump administration.Democrat Brian Maienschein, who was first elected to the Assembly as a Republican in 2012 and switched his party affiliation in 2020, is running for another term in the competitive district. Two Republican candidates are competing in the race — attorney June Cutter and San Diego water board member Kristie Bruce-Lane.Chula Vista MayorIn Chula Vista, the second-largest city in San Diego County, six candidates are vying to succeed Mary Casillas Salas, who has served in office since December 2014.The candidates include Ammar Campa-Najjar, who ran unsuccessfully for Congress in 2018 and 2020, retired Army major Spencer Cash, Southwestern College chief of staff Zaneta Encarnacion, city council members Jill M. Galvez and John McCann, and businessman and former city council member Rudy Ramirez.

You Searched For "campa prices" and got 10 results

Campa has to go beyond invitation price to build the brand & distribution network

Katya Naidu

Housing affordability has improved, but not by much

Yuheng Zhan

This year's housing market was the least affordable since 2013

Phil Rosen

Housing supply is surging as a record number of buyers get cold feet amid sky-high prices, Redfin says

Kelly Cloonan

Buying a home just got more affordable for the first time in 4 years

Kelly Cloonan

Investors are piling into real estate as values skyrocket by up to 38%. 13 metros with the highest gains, and 25 that are plunging.

Laila Maidan

In Latin America, face masks become a form of expression

PTI

US homes are turning over at the lowest rate in 30 years

Jennifer Sor

RESULTS: California holds primary elections

John L. Dorman,Kayla Epstein

Full transcript of PM Narendra Modi's TV interview

BI India Bureau

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