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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!
Sun, November 4, 20078 Q1 `- a1 g! G+ g! ]* E

4 w3 \& I7 a6 k* _& pRent crunch to worsen
% K) [. ~, J! h/ d  y% [% ~. D5 S; bVacancy rate forecasted to dip to under 1%+ _- s' H5 @  j# F7 h
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By KEVIN CRUSH, SUN MEDIA6 b+ Y/ ?4 `: J* Z" F% D$ j5 n

, x: J: H4 \% O* j  q) tThink the rental market is tight now? Just wait until next year.
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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. $ [5 A& e; X" a& f( `, s! ?0 d

; x% p. k- A; ~  W! m' v"It's just getting retarded," said Jasmine, who asked her last name not be printed.
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" o& }; }4 ]1 bSIX 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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7 h3 G/ r- y  L/ f9 YFor now, the couple has been living with her brother and mother in a three-bedroom government-subsidized housing unit. 6 x  p  }4 R: x8 I6 \
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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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" X( V5 B& e- w; b: o"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%.
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  s5 s; p1 Z& y( c2 M# |2 d& @/ eThe 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. 9 c- z9 E' D& I9 B' p( t5 m

; R# F6 c  o. n1 Q- w' K/ V* vRates are staying high with the average rent for two-bedroom apartments at $950 a month, up from $877 a month in October 2006. $ m# `; b7 g5 l6 a+ N- k2 R

" h! c- |) e( l9 k* q"With the rental rates being so high, you can only do so much," said Jasmine. 0 @& }8 w% w  n; g: R; D! |
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Making it worse, she has pets, and few places accept animals.
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+ O( ?4 C' n' P. l& q/ ~5 bMeanwhile, house sellers are facing a crunch of their own.
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% y) L* ~' c/ X. qWith 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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$ p' a7 ?- O' m8 C! Q  Z/ @"It's been slow," said Alana Schulte, whose Goldbar home has been up for sale since June. ( U& M0 L! W2 U  q- I; ^9 y

  ]+ z# g3 C+ K7 d. }1 Q0 y"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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9 s8 w% h' U! }# a5 ]+ u2 k* HOriginally listed at $450,000, in late August, she dropped her price to $400,000 to entice buyers. So far, there have been only lookers. ; E3 E& S5 z- b9 @( u' M
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Schulte bought the house for $165,000 less than five years ago.
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. F$ D8 v/ S3 x; K5 r# n: ?# {Home prices skyrocketed because of investors buying up properties, said realtor Abe Hering. 2 R* @# ?" `( M' P& a" U

2 h( V+ w" L& W4 U$ M" VINVESTORS A HUGE FACTOR
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# p! E2 [) H( m" W+ R9 R& C6 s"The investors were causing the market to spiral."
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1 n! L1 O0 z0 A2 n% `5 mThose investors have left the market, leaving mostly people looking for a home to live in.
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9 d5 @4 U' }$ C; r7 PHering said there's just not enough of them to cause a real frenzy and they're often nervous about the high prices. 0 a  D" G8 Z, k5 r& L

0 h$ S% ^( p7 C5 E, ]9 {The Edmonton Real Estate Board recently reported the average single-family home in Edmonton sold for $399,555 in September, down 1% from the previous month.
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发表于 2007-11-5 09:42 | 显示全部楼层
现在是大家的日子都不好过:- `1 U! s1 @' }, z7 z( j8 |
有房的, 房子在贬值. * A; u0 o/ h+ I9 {7 n; K$ j6 h: ?
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 & y' m, D' C/ C, j! T
现在是大家的日子都不好过:/ e3 H* K5 ~  f; \0 n7 @# `! Z
有房的, 房子在贬值. 4 y! F$ e8 N4 y5 p/ l  k% t
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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