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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
# d1 ?( M  U* o  g. z6 x* PVacancy rate forecasted to dip to under 1%5 n* n6 \; U! |+ D

, u: a- A" ?$ z+ [By KEVIN CRUSH, SUN MEDIA
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' _( N% R1 [" q! Q6 |Think the rental market is tight now? Just wait until next year. 9 f, {, E% d% g; ~
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That'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. % ], i. b. g8 c% j/ y9 _
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"It's just getting retarded," said Jasmine, who asked her last name not be printed. " T- t$ _2 v8 C6 r! D7 z* b. ~; a
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SIX MONTHS LOOKING + z$ w9 g7 L& j9 m
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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.
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For now, the couple has been living with her brother and mother in a three-bedroom government-subsidized housing unit. 5 h( K, t, U, L" u/ f
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They have been scouring the city for anything - but have found nothing in their price range, around $1,100. * ]0 T* D! j1 O* p" b2 y) P1 |

$ D. M. f! `" n- P( Q  W"I graduated from college, but I'm still working two to three jobs just to supplement the rent payments," she said.
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According to new numbers from the Canada Mortgage and Housing Corporation (CMHC), the apartment vacancy rate for Edmonton is a minuscule 1%. 8 P6 g9 {$ R: O: T! U4 ]
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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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" k# F' A! i6 `3 |2 ~. p  B; uA 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. 2 F7 P  G0 p! n% z

; Q/ B5 c' @, b! p  oRates are staying high with the average rent for two-bedroom apartments at $950 a month, up from $877 a month in October 2006.
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"With the rental rates being so high, you can only do so much," said Jasmine. ) a6 w' ]. L8 O# \- A
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Making it worse, she has pets, and few places accept animals.
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Meanwhile, house sellers are facing a crunch of their own. 4 H8 Z4 T, k& L' D: ~1 L) S

. k7 n/ v5 M3 R' @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.
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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." ! T; j& {( A# ^! Y

; e2 h$ c2 ~9 rOriginally 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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Schulte bought the house for $165,000 less than five years ago.
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) b1 h3 r5 Y) h+ ZHome prices skyrocketed because of investors buying up properties, said realtor Abe Hering.
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INVESTORS A HUGE FACTOR ) x9 N8 m7 r$ c: v

! v# Z( B: U+ Z. h$ G) N"The investors were causing the market to spiral."
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Those investors have left the market, leaving mostly people looking for a home to live in. 9 F6 }4 Z5 r5 F# t4 }

' J6 Z+ Y1 H+ @# R& d+ kHering 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 $399,555 in September, down 1% from the previous month.
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发表于 2007-11-5 09:42 | 显示全部楼层
现在是大家的日子都不好过:
; D, q! n; S$ |$ r+ _2 [4 ^; j) J有房的, 房子在贬值. 3 G! ~5 h8 s9 j
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
0 H3 f5 ]  s$ P: o* v2 o现在是大家的日子都不好过:
/ W/ }" g. J  g有房的, 房子在贬值.
2 @! a) Q8 V$ c: g3 G( G! ~没房的, 房租在上涨.

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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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