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Rent crunch to worsen

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发表于 2007-11-4 20:11 | 显示全部楼层 |阅读模式
老杨团队,追求完美;客户至上,服务到位!
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Rent crunch to worsen
# d2 A  v  n$ e7 s' U' q; a; aVacancy rate forecasted to dip to under 1%
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By KEVIN CRUSH, SUN MEDIA4 L" `+ ]( m6 z$ [; q' h0 X
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Think the rental market is tight now? Just wait until next year. . F5 l) L! J, J2 Q$ I

0 Z  W! c' p9 Z$ v, a8 y$ [' B) b/ wThat's when the apartment vacancy rate in Edmonton is forecasted to dip below the current 1% - making it that much harder for already frustrated renters to find a place to live.
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2 N0 o# @/ F; d5 }6 ?# q"It's just getting retarded," said Jasmine, who asked her last name not be printed. ) T7 O0 U9 G9 j& H2 N2 |' ^( ?

/ p; c; R: H  I5 M( {6 _SIX MONTHS LOOKING . c+ i& F, a6 r( V
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Jasmine said she's already spent more than six months trying to find a decent place for her and her fiance to rent with no luck. ( J8 _: L+ K: ?; B

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! I# d* c1 Z. W) H0 \- u7 C$ VFor now, the couple has been living with her brother and mother in a three-bedroom government-subsidized housing unit. 9 z! {2 F" p0 r; Q8 Z) q) n& _! H
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They have been scouring the city for anything - but have found nothing in their price range, around $1,100.
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" q. w, T1 f* L3 U8 \/ o' I' p"I graduated from college, but I'm still working two to three jobs just to supplement the rent payments," she said. ( n# o' b( v0 U

9 r* s" M$ J6 [& h# vAccording to new numbers from the Canada Mortgage and Housing Corporation (CMHC), the apartment vacancy rate for Edmonton is a minuscule 1%. 5 ]: x* |6 ^) O3 e5 A: U: S9 z- c
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The rent crunch isn't expected to get any better with the agency pegging the rate next October at just 0.8%.
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A limited supply of new rental buildings is keeping the market tight, according to the CMHC's outlook for Edmonton, released this week. Apartments being converted into condos is further keeping a stranglehold on renters. # u( [0 I/ W; h2 V

0 N+ r& w/ v- FRates are staying high with the average rent for two-bedroom apartments at $950 a month, up from $877 a month in October 2006. 1 N( n4 H) |. ~7 Y& w1 C1 T% c
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"With the rental rates being so high, you can only do so much," said Jasmine. 2 k# r& e' Q6 V, |$ n7 L
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Making it worse, she has pets, and few places accept animals.
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7 J- E6 C6 q0 nMeanwhile, house sellers are facing a crunch of their own.
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! a8 ?, I# H) u  M( {With a growing inventory, high prices, and wary buyers, houses can be on the market for months. The CMHC predicts listing periods will get even longer in the new year.   u. e" {  T# ]3 p7 K0 p8 H7 P( X
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"It's been slow," said Alana Schulte, whose Goldbar home has been up for sale since June.
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"Shoppers are shopping around a lot more now. They're taking their time. I have had one couple who have come in four times now, but they're not in any rush to make an offer."
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$ u7 G% T/ s* n% y" ?. nOriginally listed at $450,000, in late August, she dropped her price to $400,000 to entice buyers. So far, there have been only lookers.
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! u, b7 n1 g2 TSchulte bought the house for $165,000 less than five years ago. ' T* `8 }5 f8 L/ w. C/ _% @
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Home prices skyrocketed because of investors buying up properties, said realtor Abe Hering.
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% J& A$ h5 \8 B3 W' W5 o; EINVESTORS A HUGE FACTOR ; ?5 `5 f8 o2 I, ?1 \. Y

2 C  i* F6 U1 F, q: K( a"The investors were causing the market to spiral." & ?0 \6 `; {" m% \- a; ?2 M

6 {7 W1 |4 k" |5 i; j& m, G4 U* [Those investors have left the market, leaving mostly people looking for a home to live in. / c; t2 K8 m* _% [$ [3 z$ ~
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Hering said there's just not enough of them to cause a real frenzy and they're often nervous about the high prices.
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The Edmonton Real Estate Board recently reported the average single-family home in Edmonton sold for $399,555 in September, down 1% from the previous month.
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发表于 2007-11-5 09:42 | 显示全部楼层
现在是大家的日子都不好过:2 i! H& ]$ A6 n0 Q: |, S$ B
有房的, 房子在贬值.
# k3 ^8 y& K# k# P4 w( y没房的, 房租在上涨.
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 楼主| 发表于 2007-11-5 18:40 | 显示全部楼层
I wondered that how much the rental would be going up for just two bedroom apartment next year???
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发表于 2007-11-5 18:44 | 显示全部楼层
老杨团队 追求完美
原帖由 水管工 于 2007-11-5 09:42 发表 ) Q* w4 Q' p& c$ G0 K( W
现在是大家的日子都不好过:4 l3 e* I1 |! s0 \9 O
有房的, 房子在贬值. . F, {, p8 n/ E9 E8 \" H4 z
没房的, 房租在上涨.

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! l9 b5 e( r" `9 A待不住了,还有一个字“走”。
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 楼主| 发表于 2007-11-6 18:29 | 显示全部楼层

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