Welcome to Mobility Minute, a newsletter published every Friday byWorldwide ERC®for the benefit of members and the global mobility and relocation industry. Here's a quick glimpse of what you'll find in this week’s issue:
How We Are Working to Insulate RMCs from the Canadian Ban on Home Purchases
Special Handling: How to Move Art, Wine, and Pianos
Video: How Companies Are Responding to the Latest Developments in the Shipment of Household Goods
Purpose Is the Top Workplace Benefit
2022 RAC Conference Recap: Valuation Pilots – Navigating the Waves of Change
Announcing the Winner of the Annual Relocation Appraisal Report Writing Contest
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How We Are Working to Insulate RMCs from the Canadian Ban on Home Purchases
In case you missed it, we recently alerted our members about a two-year moratorium Canada has enacted on home purchases by foreign buyers. The Purchase of Residential Property by Non-Canadians Act prohibits non-Canadians from purchasing, directly or indirectly, any residential property in Canada for two years, starting 1 January 2023.
Although there is an exception for persons on work visas, there is no such exemption for foreign-owned relocation management companies (RMCs) even if they have an office in Canada. Because this legislation would impact their ability to offer some traditional services when relocating employees across the border and even within Canada, we are supporting efforts led by the Canadian Employee Relocation Council (CERC) to obtain exemptions for RMCs not headquartered in Canada, as well as to ensure all temporary foreign workers are included in the implementing regulations.
Special Handling: How to Move Art, Wine, and Pianos
The cost of a move depends on a variety of factors including location, distance, size of shipment and mode of transport that are somewhat easy to predict. What’s less predictable are expenses incurred for items that require special handling. We have written recently about the logistics of relocating a pet and the factors to consider when moving a vehicle, but delicate household items should not be overlooked. In this article, we discuss the factors to consider when relocating art collections, wine collections, and pianos.
Video: How Companies Are Responding to the Latest Developments in the Shipment of Household Goods
Worldwide ERC President and CEO Lynn Shotwell recently sat down with Michael Hughes, vice president of global business development at Arpin International Group, for a One Take conversation about how Arpin continues to innovate how it relocates household goods.
Nearly two-thirds of people surveyed by McKinsey said that COVID-19 caused them to reflect on their purpose in life, and almost half said they were reconsidering what kind of work they do. People want to feel that they are part of something bigger than themselves, and they are looking for that sense of purpose and connection at their workplace.
Why is this important?
A company that helps its employees find purpose on and off the job can be a major draw. After almost two and a half years of remote work in some capacity, workers have made their preference to continue their work from home known. Flexibility is a top three motivator of employees who are looking to change jobs, according to McKinsey’s latest American Opportunity Report.
2022 RAC Conference Recap: Valuation Pilots – Navigating the Waves of Change
Another Relocation Appraisal and Consultant (RAC) annual conference is in the books for 2022. Sessions covered topics including changes in the industry, the importance of managing risk in our daily activities, and defining the difference between sales price and market value. There was also a session that explored the paradox that exists between the demand for healthier homes and the inability of the market to recognize and properly value the modern healthy home.
Announcing the Winner of the Annual Relocation Appraisal Report Writing Contest
At the Relocation Appraisal and Consultant (RAC) annual conference, held 15–16 September, Worldwide ERC® and RAC, a premier organization providing valuation solutions for relocation and complex residential properties, announced the winner of the 2022 Relocation Appraisal Report Writing Contest: Michael Manley, CRP, IFA. Judges evaluated the entries based on clarity of communication, internal consistencies, complexities of the report, thoroughness, and completeness.
Manley, the owner of Michael Manley LLC, is a residential appraiser in Littleton, Colorado. He entered the field shortly after graduating from CU Boulder when a friend of his mother’s, Rick Foos, who was looking for a recent college graduate with no real estate experience, hired him and trained him from the ground up. Manley is now a full-time relocation appraiser, as well as a certified luxury home appraiser, with 33 years of appraisal management experience in the Denver Metropolitan Area.
So far this year, investors have put over $7 billion in seed through growth-stage rounds globally for supply chain-focused startups. That puts funding this year on pace to roughly equal 2021’s record-setting levels, which is no small feat considering investment in most startup sectors is contracting. — Crunchbase
A big final step in the corporate travel recovery for United, and many other airlines, is the reopening of Asia. United was the largest U.S. airline to the region before the pandemic and, until large markets like China fully reopen, will face challenges fully recovering to 2019 corporate travel revenues. — Skift
The International Monetary Fund said that the world economy was headed for “stormy waters” as it downgraded its global growth projections for next year and warned of a harsh worldwide recession if policymakers mishandled the fight against inflation. — The New York Times
In some metropolitan areas, median list prices overall are falling from their June highs. While the price declines are great for buyers, they’re causing sellers in these markets to sweat, as many begin to drop their asking price. But, nationally, prices are still up 14% since this time last year, even if they’ve dropped since early summer. — Realtor.com
COVID-19 vaccines and boosters are losing their importance for world travelers. There are now more countries and territories—118, according to Kayak.com data—that welcome any U.S. traveler without restrictions. Of the 109 destinations that still require testing, quarantines, or both for unvaccinated travelers, 17 don’t allow U.S. tourism anyway.
Tourism and business travel are on the rise
As a result of loosened restrictions, wanderlust has made a roaring comeback. Almost two-thirds of Americans are planning a trip during the next three months, despite sky-high prices and operational turbulence in an industry that continues to grapple with the lingering effects of COVID-19.
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