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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, 2007
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Rent crunch to worsen0 h1 X) b4 k/ A2 h  j; o3 C( P
Vacancy rate forecasted to dip to under 1%- g) A0 s# G6 F1 |0 q% K% b. v! ?
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By KEVIN CRUSH, SUN MEDIA
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$ ^0 ]( t# j0 uThink the rental market is tight now? Just wait until next year. - h2 d3 H( R0 V- _, y5 h& V5 F
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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.
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"It's just getting retarded," said Jasmine, who asked her last name not be printed. , |' P& |3 l- J

) s  o6 P9 f6 d5 {( uSIX MONTHS LOOKING - P% R/ ]) m5 o5 a# @
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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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4 [/ @( i9 |' O' ~3 KFor now, the couple has been living with her brother and mother in a three-bedroom government-subsidized housing unit.
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+ c, V, c4 D% i/ g: rThey have been scouring the city for anything - but have found nothing in their price range, around $1,100.
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8 z% h- b1 m! b; j: {: _$ H5 p/ g"I graduated from college, but I'm still working two to three jobs just to supplement the rent payments," she said. ; q8 `8 r' s' B$ |. ^
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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%. 2 ?9 o4 ^& F! L6 o

! D" Z* E# q4 r$ a# k6 |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. ' D, W) ]% K& I+ n, K; J4 B
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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.
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"With the rental rates being so high, you can only do so much," said Jasmine. : C; N" z( Q# [9 s* r5 {
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Making it worse, she has pets, and few places accept animals.
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7 F* J! y; M/ \; l1 l1 j+ n; xMeanwhile, house sellers are facing a crunch of their own. . h! E& k0 L: j7 x
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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. 3 Q( |9 W- H9 H2 i1 Q

) T6 v3 f8 j5 m& |! n( c"It's been slow," said Alana Schulte, whose Goldbar home has been up for sale since June. & L: P- p* B2 J8 l
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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." ' y3 V0 e# g  D" t
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Originally listed at $450,000, in late August, she dropped her price to $400,000 to entice buyers. So far, there have been only lookers. , Q$ n) g) w6 l* d

7 ~( G' t$ G4 s' {; r- ?6 K, GSchulte bought the house for $165,000 less than five years ago. $ O* I6 I2 U; U7 S0 c% o3 k3 v) j% N
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Home prices skyrocketed because of investors buying up properties, said realtor Abe Hering.
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1 _  i4 M+ V9 F0 R! h" WINVESTORS A HUGE FACTOR . u5 Q8 f5 f( @

/ v3 f& S; m6 M9 k7 `"The investors were causing the market to spiral." 2 G/ U, a4 g# r) D) g# E
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Those investors have left the market, leaving mostly people looking for a home to live in. 8 |; ~7 p3 h/ e" M

- z  h! i; k* h! c/ o6 UHering said there's just not enough of them to cause a real frenzy and they're often nervous about the high prices. 4 I2 [) L' R6 f) U
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The Edmonton Real Estate Board recently reported the average single-family home in Edmonton sold for $399,555 in September, down 1% from the previous month.
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发表于 2007-11-5 09:42 | 显示全部楼层
现在是大家的日子都不好过:
9 C9 D* G$ C. [3 j# c8 V有房的, 房子在贬值.
4 M# ^/ |- p! I8 [( L1 d% 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 - ~) N/ l+ S$ P8 y- g8 ?
现在是大家的日子都不好过:
% V$ h4 c/ X9 R$ i3 H# c9 W有房的, 房子在贬值. : V7 I7 ^& Y! M" H3 `8 b7 q4 y# t
没房的, 房租在上涨.

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/ ]' `: M, B  s$ G" ]8 p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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