 鲜花( 0)  鸡蛋( 0)
|
Sun, November 4, 2007" Y3 I* V8 F d" V9 D! j; \1 k$ {
( b( a1 e! [3 a5 u" iRent crunch to worsen4 X5 ?0 G! ^. A0 W# X3 [! o/ o! Z# T- l
Vacancy rate forecasted to dip to under 1%) z/ I6 Q% m* n
7 W' R- M* Y2 m
By KEVIN CRUSH, SUN MEDIA
; `* d% n3 \- X- H3 c6 P' {9 k' P
. K* ?! a) k. X1 C# p% ZThink the rental market is tight now? Just wait until next year. - u' ~0 K+ d2 E6 X) F4 U0 D- r0 i9 k
3 b7 ^( N2 k3 J: JThat'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. ) E) j7 w5 A0 [0 Q7 N* Q
4 `, B" d1 h: ~% d" a A
"It's just getting retarded," said Jasmine, who asked her last name not be printed. % ?9 N% a: l& S9 [3 X
. e# Q2 F G- w7 J; }
SIX MONTHS LOOKING . a, g/ ~0 u- ^* d/ H
& x$ u9 ?" ]6 ^% @0 i- _. k$ k% F
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. 6 M2 ^8 t8 S. H# v. `
# H" K, j& N- h# @
$ w. Z4 Z% j6 P2 @" A+ t8 v2 |0 K" [/ B$ Y7 z0 y: _
For now, the couple has been living with her brother and mother in a three-bedroom government-subsidized housing unit. 1 y) A4 @* T+ o8 S& ]
' z9 g1 I& S( K2 d2 Z( G6 t5 }
They have been scouring the city for anything - but have found nothing in their price range, around $1,100.
$ C& @2 o8 B$ l& C' a! N5 N) s, Y8 Z! o3 @. O/ z
"I graduated from college, but I'm still working two to three jobs just to supplement the rent payments," she said. ) z0 L7 r* g/ ]3 @
, E! R3 s _" l" |7 ^3 }" e# v
According to new numbers from the Canada Mortgage and Housing Corporation (CMHC), the apartment vacancy rate for Edmonton is a minuscule 1%.
6 d# s9 B7 \3 ~8 X0 _( u- O Q9 g" y. G8 o$ Q
The rent crunch isn't expected to get any better with the agency pegging the rate next October at just 0.8%.
$ ~1 ]; j3 V: P% ^+ | E7 [2 N; T; k
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. & B! m& f( l1 ]. G1 E
/ E- Y$ {+ N; {8 Q+ _5 V- q$ |Rates are staying high with the average rent for two-bedroom apartments at $950 a month, up from $877 a month in October 2006. 6 v# o7 W4 D& W* r
7 u; N. \+ Z- i"With the rental rates being so high, you can only do so much," said Jasmine. 3 n3 r" f# P+ x) Q! i$ E: `3 p
$ m* U1 A7 [/ V' c) eMaking it worse, she has pets, and few places accept animals. 5 K, o* \ `; M0 ^0 {) J; K
7 J+ b" j. T: g% ?
Meanwhile, house sellers are facing a crunch of their own.
, U3 r/ m# n/ b/ N7 v% w- J6 B
+ d+ @" x$ ]4 q/ I8 l$ h6 R0 eWith 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. " g' D5 W, L: }1 N5 @" [3 z# d
& l) a5 w; {4 U9 j6 @"It's been slow," said Alana Schulte, whose Goldbar home has been up for sale since June.
3 q: U+ M4 T# F- d
& y _5 |! H6 c- Y7 R7 ]"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." 9 W/ g; Q* z4 j! [1 c" c
8 T# F; i. l! e; P
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. 4 W: C0 B: V8 R- H: v/ F
4 }/ `% U5 L# m2 P, j3 M3 eSchulte bought the house for $165,000 less than five years ago.
X0 Y) X/ @% j! l
5 p% A# \$ l: a7 H) c8 A% D/ jHome prices skyrocketed because of investors buying up properties, said realtor Abe Hering.
* X8 t( W3 Q$ K1 i) K1 r4 D4 s! h- p. m* d* q" X
INVESTORS A HUGE FACTOR . o& V7 Y/ {. y# p
, u) z8 }4 x( x( A& _"The investors were causing the market to spiral." 8 }3 z& S4 Z9 ~7 h* h- z& I
3 B5 e0 R+ R! p3 S3 c. Z- UThose investors have left the market, leaving mostly people looking for a home to live in.
H/ m9 }$ m, H6 Z1 B M# p& u0 B! `8 T+ |% M& U
Hering said there's just not enough of them to cause a real frenzy and they're often nervous about the high prices. ' g: b0 b% E. ?. Y* g* \+ e5 ~
+ I( b: G5 Z' v3 n* a+ |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. |
|
狗仔卡
发表于 2007-11-4 20:11
提升卡
置顶卡
沉默卡
喧嚣卡
变色卡
显身卡
( e: K3 Z3 b8 q- w% A) h% T1 G6 ~+ t
楼主
