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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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( Y! _  I2 l+ i$ ZRent crunch to worsen
& O3 Y  a# e2 j- _7 u- ^Vacancy rate forecasted to dip to under 1%4 a! R3 c. W6 g) z5 |/ S

7 `7 X0 D/ Z) f- a7 A/ i  Y& K# [By KEVIN CRUSH, SUN MEDIA
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Think the rental market is tight now? Just wait until next year. - r. X/ X- a' f* D

+ S) ]: r! t1 i" _4 R6 VThat'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. 1 j1 |" f; b$ `7 B! w. r- Y( W3 v

1 g+ l5 h7 Y6 w2 jSIX MONTHS LOOKING 0 H9 i3 T( v9 s) h; x! A

7 ]! c# T& L: b2 e5 z0 S0 dJasmine 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. 7 b; g) d8 s5 }& T1 W5 I
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6 }7 N) `/ l/ ]6 |/ [& TFor 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. # f. N: j, t! M+ a) f4 u
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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.
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, o* c( Y0 U, fAccording 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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/ N: A% O# p: H: `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. . ?0 _7 V2 l3 _+ _: h% J
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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. ( W: g5 z- J  H  x. ~

* k9 O# e7 a7 v6 _( z% O"With the rental rates being so high, you can only do so much," said Jasmine.
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Making it worse, she has pets, and few places accept animals. ' T* i' S" w$ \  n! C$ ^
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Meanwhile, house sellers are facing a crunch of their own.   Y  v  X, [3 B8 S

' w9 z+ V5 G* ^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. 7 G; u; L& F# t- v5 ^3 A

" W$ N1 S" _' K, t" U: M# J0 A  @"It's been slow," said Alana Schulte, whose Goldbar home has been up for sale since June. 7 W! S1 A8 [9 ^3 ?
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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." + e2 \& o9 J7 s: z5 ~  r

: u( k6 a% |" _' cOriginally listed at $450,000, in late August, she dropped her price to $400,000 to entice buyers. So far, there have been only lookers. " ]9 H/ A! _9 f4 n0 j1 y# ^
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Schulte bought the house for $165,000 less than five years ago. ) n7 [/ ?8 t* i, {6 f' ?+ q+ |
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Home prices skyrocketed because of investors buying up properties, said realtor Abe Hering. 4 u& {9 w1 z9 c( t8 _  e3 D
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INVESTORS A HUGE FACTOR * _: @( l' w$ X8 ?3 n

7 S- X* L5 V; Y1 W/ Z) \0 ^( w"The investors were causing the market to spiral." " t! Q. [4 u9 s& R- U

. D: X9 }$ M' R& p' fThose investors have left the market, leaving mostly people looking for a home to live in. 5 y% w( R3 {% Y/ j* n0 l; e

5 ]6 }* a0 R2 V# f7 ~3 h5 qHering 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 $399,555 in September, down 1% from the previous month.
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发表于 2007-11-5 09:42 | 显示全部楼层
现在是大家的日子都不好过:: b% _) w$ ?' ~$ ~. _: u' K4 K
有房的, 房子在贬值.
; {) E4 b4 P2 e9 E- |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
: j9 j; g! c# C4 g; q& e$ t# {( ~现在是大家的日子都不好过:" p+ M9 q- {, {
有房的, 房子在贬值. - s$ s( I/ _7 n' T9 y
没房的, 房租在上涨.
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, \. Y1 ]" O8 e5 C+ D3 M* {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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