“I am deeply honored and humbled by the trust the people of Naperville have placed in me,” said Syed on election night. “This victory belongs to all of us—every volunteer who knocked on doors, every supporter who donated, every resident who believed in the promise of a city that works for everyone.”

Syed’s campaign focused on priorities that resonated with voters across Naperville, including sustainable development, environmental stewardship, transparent governance, economic resilience, and investing in public safety and city services. As President of the Naperville Public Library Board and a longtime advocate for local nonprofits like Loaves & Fishes and 360 Youth Services, Syed brought a record of thoughtful, results-driven leadership to the race.

“This campaign was about building a Naperville that honors its values and embraces its future. I’m eager to get to work with my colleagues on the Council to implement our shared vision—and to listen, engage, and lead with integrity,” Syed added.

He also took time to thank outgoing council members and all those who have served the city before him. “I stand on the shoulders of those who have led Naperville with dedication. I’m grateful for their service and look forward to working in that same spirit.” Syed added

Syed will be sworn in later this spring.

The post Ashfaq Syed Elected to Naperville City Council appeared first on NRI News.

Mumbai 13 June 2024 – Inflation, the gradual increase in the general prices of goods and services, erodes the purchasing power of money over time. For investors seeking to preserve and grow their wealth amidst inflationary pressures, real estate has emerged as a popular hedge against this dreaded but inevitable dynamic, finds ANAROCK research.

Shobhit Agarwal, MD & CEO – ANAROCK Capital, says, “After the 2019 elections, average residential prices across the top 7 cities have appreciated at a Compound Annual Growth Rate (CAGR) of 6% – rising from INR 5,600/sq.ft. in June 2019 to INR 7,550/sq.ft by the end of FY 2024. A similar trend was witnessed concerning the 2014 elections. Average prices across the top 7 cities saw an annual rise of over 6% in 2014 when compared to the preceding year – from INR 4,895/sq.ft in 2013 to INR 5,168/sq.ft in 2014.”

Price growth over the last three elections

Conversely, before the 2019 elections, average prices rose by a mere 1% annually and remained rangebound during the tenure.

Source: ANAROCK Research, Data for Top 7 cities

Supply – Demand Dynamics

In the last decade, there were periods when the supply of real estate exceeded demand, resulting in stable price growth that kept pace with inflation in the pre-pandemic era. Between 2013 and 2020, the top 7 cities recorded a cumulative supply of 23.55 lakh units against a demand of 20.68 lakh units.

Gradually, demand rose in tandem with new supply. Available inventory peaked at approx. 8 lakh units by the end of 2016. However, following the pandemic, residential real estate saw a rapid recovery, leading to significant price growth that has outpaced general inflation.

Source: ANAROCK Research, Data for Top 7 cities

Real estate – a hedge against inflation

Inflation, the gradual increase in the general prices of goods and services, erodes the purchasing power of money over time. For investors seeking to preserve and grow their wealth amidst inflationary pressures, real estate has emerged as a popular hedge against this dreaded but inevitable dynamic.

Steady population growth coupled with urbanization consistently fuels housing demand. As more people migrate to cities for better opportunities, rising residential demand exerts upward pressure on prices.

Moreover, real estate investments can generate rental income, which potentially grows over time in response to inflation. As the cost of living rises, landlords typically adjust rental rates. Also, investors can leverage their real estate assets to borrow funds for further real estate acquisitions.

During inflationary periods, the cost of borrowing (interest rates) typically rises. However, investors who have secured fixed-rate financing before inflationary pressures set in can benefit from lower borrowing costs in real terms, enhancing the profitability of real estate investments.

“Real estate investments offer diversification benefits within a portfolio,” says Agarwal. “Unlike financial assets such as stocks and bonds, which may be negatively impacted by inflationary pressures, real estate – including residential, commercial, and retail – provides a tangible asset with intrinsic value. Diversifying investment portfolios with real estate holdings can mitigate overall portfolio risk and enhance long-term returns.”

Residential real estate prices have risen continuously since 2013, and in the last two years, appreciated at a CAGR of 13% while CPI inflation moderated by 1.3% on an annual average basis to 5.4% at the end of FY24. This trend signifies a clear outperformance of real estate prices compared to inflation.

Source: ANAROCK Research, RBI

With tangible real estate, in response to growing investor demand for inflation protection, financial instruments such as real estate investment trusts (REITs) and inflation-linked bonds have gained popularity. REITs, which invest in income-generating real estate, offer investors exposure to the real estate market coupled with liquidity and diversification benefits. Similarly, inflation-linked bonds adjust their principal and interest payments based on changes in inflation rates.

The post Housing Prices Soar with 13% CAGR as Inflation Moderates to 5.4% appeared first on NRI News.

By Rajendra Dichpally (New Jersey, USA)

The 2024 election will essentially be about two points. One will answer every query with ‘Jai Shree Ram’  and the other will say ‘Hey Ram’ to every concern facing the country and the idea of India.

Mahatma Gandhi was the biggest follower of Lord Ram. He started his morning prayer with a Ram Bhajan. He also died with Lord Ram’s name on his lips even as the assassin’s bullets fell him.

The country needs to move away from religion and religious fanatics who are stunting the country’s progress. The Modi-led BJP Government and RSS have for a long time now encashed the name of Lord Ram for political gains. They have relentlessly projected themselves as the sole defenders of Hinduism. Our great country which was built on the sacrifices of many people of different ethnic backgrounds, various faiths, and numerous beliefs can never afford to be called a nation of one religion. This is not the idea of India that was built and nurtured by our founding fathers.

The economy of today’s  India is moving at a moderate 4 percent growth compared to almost 8 percent in 2013. This needs to change if we want India to become a developed country. Jai Shree Ram or continuing to build temples will not help the country and its people.

Unemployment is at a record 7.5 at present and continues to rise. This issue needs immediate attention. The number of unemployed graduates has peaked. This is not good for the society and the country. The nation has to focus on this burning issue. Our country should remember that religious extremism is not going to result in jobs. Fanaticism will only lead to fissures.

The inflation and cost of living are at an all-time high making it very difficult for the middle class and almost impossible for the downtrodden to live a life of dignity. This concern needs to be addressed immediately.

The message of unity, peace, and universal brotherhood has to be conveyed by the top leadership. Unfortunately, this is not happening. The PM has the time to visit all religious places and convey political messages clothed in religious sermons but does not have the inclination or the time to visit Manipur which has been torn asunder by riots. It is clear that for him religion is a mere ruse to gain political advantage while humanity as a value is something he cares two hoots about.  

In stark contrast is the example of  Rahul Gandhi who has been traversing the length and breadth of the country with his powerful message of Unity and universal brotherhood during his historic Bharat Jodo Yatra. This is what a leader needs to do! He should create a fabric of equality and fraternity by reaching out to the ordinary citizen.

The institutions that were built and nurtured are being trampled and compromised. One voice resonates with Jai Shree Ram when such acts are being perpetuated and the other voice meekly utters ‘Hey Ram’ to this colossal destruction of institutions and the idea of India.

Demonetisation destroyed the rural and unorganized economy and there was no major black money recovered. This is despite the Prime Minister saying that he will be accountable and responsible if a humongous amount of cash is not recovered in 6 months. He and his govt failed on this count and should be held responsible for destroying the unorganized rural sector that has collapsed due to the sudden and unplanned implementation of demonetization.

The farmer’s agitation was another issue that was badly handled by the Modi government. Today, the farmers are in great distress due to the lack of minimum price promised by the Government for their produce. No nation can afford to ill-treat and ignore its farmers who are the backbone of any country, especially a rural-based country like India. Taking Lord Ram’s name will not help alleviate the pain and distress of this section of the people.

The handling of the Kashmir issue is another massive failure of the Modi Government. Removing Article 370 without involving the stakeholders (people of Kashmir) is a colossal fiasco for the government and this is reflected in the atmosphere in the valley which has worsened. The election process in several areas has been stalled due to this issue which shows the incompetence and myopic attitude of the Modi Government in not taking the actual stakeholders into confidence before removing Article 370.

The foreign policy of the country has failed. The Chinese have again occupied huge tracts of land at our borders. Even a BJP MP – Subramanium Swamy acknowledges that this is a fact, yet we never hear the Prime Minister say a word about this or accept the truth. India does not have good relations as we had in earlier times with most of its neighbors. We exist in an ambiance of mistrust and lack of transparency.  India’s relations with the USA and other developed countries have only worsened and this is a major issue that will affect the country’s economy and its people. Yet we continue to resonate and hear only ‘Jai Shree Ram? The voice that should be heard louder is ‘Hey Ram’  and should reflect the concern about the state in which our great country has been enmeshed in.

I would like to conclude by saying that it is time for the voice of ‘Hey Ram’ to unite,  protect, and preserve the idea and fight for a country that was built on the sacrifices of millions of people belonging to different ideologies and ideas.

I hope the voices of ‘Hey Ram’ will come together and usher in a renaissance. They will create a new awakening and fight to protect and preserve the idea of India.

I belong to one of the voices of ‘Hey Ram’ and will do my best to fight for a just cause in the ensuing elections of 2024. It will be my earnest endeavor to help in recreating an India that is tolerant, progressive, pluralistic, and above all humane.

The post Hey RAM… appeared first on NRI News.

UNITED STATES: Pakistan’s upcoming elections marks a pivotal juncture for the country and broader South Asia. Against the backdrop of enduring political challenges and a relentless economic crisis, the discourse on governance, policies, and the imperative for reforms spark several pressing questions: Will these elections reshape the delicate balance between civilian governance and military influence? Can new political leadership navigate Pakistan towards stability and progress amid the tumultuous currents of contemporary geopolitics? Which familiar political dynamics will persist?

Join the Asia Society Policy Institute on February 12 as we explore the aftermath of Pakistan’s elections, seeking answers to these questions. The panelists will analyze crucial election results, considering their potential impact on domestic and foreign policies. We’ll assess how these outcomes could reshape international relations, influence regional stability, and redefine Pakistan’s global role.

The virtual discussion, moderated by Farwa Aamer, Director of South Asia Initiatives, Asia Society Policy Institute, will feature: Arifa Noor, Journalist and Host of NewsWise show on the Dawn News television channel, and Zahid Hussain, Award-Winning Journalist, Author of Frontline Pakistan: The Struggle with Militant Islam, and former correspondent for The Times of London and The Wall Street Journal.

SPEAKERS

Zahid Hussain is an award-winning journalist and author. He is a former correspondent for The Times of London and The Wall Street Journal. He also has covered Pakistan and Afghanistan for several other international publications, including Newsweek, Associated Press, and The Economist. He is a regular columnist for Dawn. Hussain was a Pakistani scholar at the Woodrow Wilson International Centre for Scholars. Washington. D.C (2011-2012). He has also been a visiting fellow at Wolfson College, University of Cambridge (1999), and at the Stimson Center. Washington. D.C (1994). Hussain is the author of Frontline Pakistan: The Struggle with militant Islam (declared book of the year in 2007 by the Wall Street Journal) and The Scorpion’s Tail: The Relentless Rise of Islamic militants in Pakistan. His latest book is titled No Win The Paradox of US-Pakistan Relations in Afghanistan’s Shadow.

Arifa Noor is a leading opinion writer and broadcaster with Pakistan’s Dawn Media Group. Based in Islamabad, she hosts NewsWise on the Dawn News television channel. An hour-long program that runs from Monday to Thursday, News Wise covers politics, human rights, and security issues. She also writes a weekly opinion column for Dawn newspaper. She has over 25 years of experience in print and television. She is the only woman to have headed a bureau of Dawn Newspaper and serve as resident editor. Earlier she also served as editor of the Herald for which she won several awards including the CNN Journalist of the Year and Kurt Schork awards. In 2004, she was the youngest recipient of the Eisenhower Fellowship. She is a graduate of the London School of Economics and holds a Master’s Degree from King’s College London.

Farwa Aamer (moderator) is the Director of South Asia Initiatives at the Asia Society Policy Institute (ASPI) in New York where she oversees the institute’s policy work and projects in South Asia. Before ASPI, Farwa worked at the Stimson Center where she led research on the security, political, and socio-economic dimensions of transboundary river governance in the Himalayan region. Through her work, Farwa has organized and convened high-level Track II dialogues and discussions designed to facilitate greater and intra-regional cooperation on issues and opportunities concerning water, energy, climate change, and sustainable development in South Asia, MENA, and Central Asia. Farwa also worked on highlighting the disproportionate impacts of climate change and water insecurity on women. From 2017 to 2021, Farwa was with the EastWest Institute (EWI) and served as the Director of the South Asia program. At EWI, Farwa worked on promoting non-traditional channels of diplomacy and establishing multi-stakeholder platforms for shared economic, financial, and geopolitical interests by bringing together policy shapers, media influencers, thought leaders, and business experts from within South Asia and across the globe.

The post Asia Society Policy Institute Webinar: Deciphering Pakistan’s Future: A Post-Election Analysis appeared first on NRI News.

ACCRA, GHANA: In this busy election year, Africans show unwavering commitment to democracy and democratic norms; Majorities prefer democracy and favor elections, media freedom, and presidential terms limits.

The majority of Africans continue to choose democracy over any other form of government, according to Afrobarometer’s latest survey. More than six in 10 of those polled prefer an accountable government, even if it is ineffective.

The leadership of Afrobarometer shared some of these research findings (https://apo-opa.info/3KPgRnt) on Wednesday at a press conference that touched on elections, climate change, governance, and economic conditions. Participants included journalists, civil society organizations, researchers, and other stakeholders.

CEO Joseph Asunka highlighted some of Afrobarometer’s significant milestones for 2022, including the completion of a 10-year strategy, which will guide Afrobarometer surveys and related activities in the next five survey rounds. Also, in 2022, for the first time in its history, Afrobarometer completed 33 country surveys – more than 40,000 individual interviews with citizens across the continent, covering urban and rural areas.

On governance, Asunka said the overall picture was encouraging, with widespread popular support for democratic practices. “Across the continent, the good news is Africans are still solidly committed to democracy; that remains the majority view. They prefer democracy to any other form of government,” Asunka said, adding that a clear majority of Africans remain in favor of elections, parliamentary oversight of the president, media freedom, and limits on presidential tenure.

In 20 countries surveyed in 2021/2022, 67% of Africans expressed a preference for democracy “over any other kind of government” and rejected non-democratic alternatives such as one-man rule (81%).

Participants heard that most Africans describe their economic conditions as bad and give governments poor performance ratings on critical economic issues such as job creation and management of the economy. Unemployment remains the top policy priority cited by Africans (35%), followed closely by management of the economy (34%).

Climate change, only about half (51%) of citizens say they have heard of climate change, and three-fourths (74%) of those who are aware of climate change want their governments to take climate action no matter the economic costs.

In the upcoming Round 10, Afrobarometer will include new modules on sexual and reproductive rights, migration, youth, and access to justice. Other plans include launching capacity-strengthening initiatives for journalists and civil society groups in data analysis and survey research methods.

Emmanuel Gyimah-Boadi, Afrobarometer co-founder and board chair, said these results come at a critical juncture as the continent’s most populous nation, Nigeria, prepares for the polls. It also coincides with a busy electoral year for the continent. A dozen countries are expected to elect new leaders this year. Afrobarometer, too, finds itself at a pivotal moment in its 24-year history.

“The year 2022 was a remarkable one. Firstly, we surveyed an impressive 33 countries that year, a record-breaking achievement in a single calendar year and the first of its kind in our history. Even more important, the demand for our data and analysis from policy and development stakeholders on the continent and abroad surged dramatically,” Gyimah-Boadi said.

“As we look ahead, we remain steadfast in our mission to continually share data-driven insights and evidence-based policy options. And we are confident that our efforts will generate tangible outcomes for citizens,” said Gyimah-Boadi.

Director of Surveys Boniface Dulani, Director of Analysis Carolyn Logan, head of data management Jamy Felton, and capacity building manager Dominique Dryding provided expert insights during the in-depth conversation, moderated by Afrobarometer director of communications Nafissatou Diouf.

Quotes from panelists

Director of surveys Boniface Dulani: “For the first time in the history of Afrobarometer, we completed 33 regular-round surveys in one calendar year. That is an average of nearly three surveys a month. This brought our overall total of R9 surveys to 37. The 33 surveys completed in 2022 involved more than 40,000 individual interviews with ordinary citizens across the continent.”

Director of Analysis Carolyn Logan: “Afrobarometer’s aim is to reach many diverse audiences with our findings, from ordinary Africans to senior policymakers, journalists, policy advocates, academics, business leaders, and others, so that African voices are heard in policy debates through many different channels.”

The post Afrobarometer unveils insights on elections, climate change, and governance appeared first on NRI News.