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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, b$ a0 \8 u! |" O% i" m9 ~
Vacancy rate forecasted to dip to under 1%% ?3 r9 [  j1 B* i9 y2 h

1 f% X0 z# h2 C- K, ~; X: T6 x2 ABy KEVIN CRUSH, SUN MEDIA
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; {# a$ {- ^/ X) b# X2 y% J7 [Think the rental market is tight now? Just wait until next year.
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7 X8 |9 b" b0 N* {, HThat'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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: F: Z3 O- h% V) n7 K; j3 ~& L3 l/ k  c( G"It's just getting retarded," said Jasmine, who asked her last name not be printed. ; c, H' A( R5 J1 p2 G: {
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SIX MONTHS LOOKING
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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.
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They have been scouring the city for anything - but have found nothing in their price range, around $1,100. $ R" E& x' x6 N
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"I graduated from college, but I'm still working two to three jobs just to supplement the rent payments," she said. / b9 w- J+ [* A' q, b) U
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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%.
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* H6 L: `7 }" `# O3 t- z6 G1 O" [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.
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Rates are staying high with the average rent for two-bedroom apartments at $950 a month, up from $877 a month in October 2006. 3 Q2 h+ ~  G% s& t; F1 V' {

7 e9 J& V) T/ j' J) B) ~"With the rental rates being so high, you can only do so much," said Jasmine. 8 {' t8 v' Q) e( z

% O5 a+ u) [% s' \Making it worse, she has pets, and few places accept animals. 3 j6 ?, n; z% E. k. O
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Meanwhile, house sellers are facing a crunch of their own.
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$ U' W% X' Q& hWith 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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' C# [# p; J. o: U. V7 }: }"It's been slow," said Alana Schulte, whose Goldbar home has been up for sale since June. 6 T- Q  Z7 u) G1 ~; ]7 q

0 K: `3 i  F# P. I9 `"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." 0 W. Q6 r" h# F/ ?% h% S9 l! E
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Originally 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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5 `2 Q# B/ @/ H. F( r# eSchulte bought the house for $165,000 less than five years ago.
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' I- Y, F1 O* _Home prices skyrocketed because of investors buying up properties, said realtor Abe Hering. * p; i+ N6 G  [* K! a, C: S

! O- G. b- c- A, k+ X. T% K, s8 m. qINVESTORS A HUGE FACTOR
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' ?8 z; J, J. 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. . {  |) b7 u. p+ s
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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:
" M; U4 ?' K' R- v7 Y3 k+ ]有房的, 房子在贬值. 4 B1 c: Y5 {9 K( f. `+ V4 w5 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 . s6 A% n8 p7 v6 Q7 r
现在是大家的日子都不好过:8 W) ?+ i6 G) W: s* o! i6 H# E4 s
有房的, 房子在贬值. 4 ?5 k. d9 `; X" E
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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