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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) I8 Q% [8 E4 }1 l$ S/ V8 _( K

( Q; V2 K( _0 M9 U  j" O) }; E6 Y9 sRent crunch to worsen2 ]. J- ?1 X" |
Vacancy rate forecasted to dip to under 1%- Q) r- k; @3 v
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By KEVIN CRUSH, SUN MEDIA1 H# T2 G# J1 I& n8 \' Y6 U

0 N- B/ H/ _( r4 X! U& HThink the rental market is tight now? Just wait until next year.
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) c7 T! V; ]3 U( \5 QThat'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. : X0 C5 ~, f6 V8 |8 v4 ]

; J6 }" I3 u# m6 D9 z6 J. B"It's just getting retarded," said Jasmine, who asked her last name not be printed.
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SIX MONTHS LOOKING ( h, w# @  M4 f1 Y6 B' z7 U. M

5 G/ h$ }! y% d- ?' 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. 8 U5 u" J) h+ H  {. K- L/ }( [, u

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For now, the couple has been living with her brother and mother in a three-bedroom government-subsidized housing unit. 7 s$ W0 N; T2 f; i) A% X
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They have been scouring the city for anything - but have found nothing in their price range, around $1,100.
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"I graduated from college, but I'm still working two to three jobs just to supplement the rent payments," she said.
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According to new numbers from the Canada Mortgage and Housing Corporation (CMHC), the apartment vacancy rate for Edmonton is a minuscule 1%.
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The rent crunch isn't expected to get any better with the agency pegging the rate next October at just 0.8%.
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A limited supply of new rental buildings is keeping the market tight, according to the CMHC's outlook for Edmonton, released this week. Apartments being converted into condos is further keeping a stranglehold on renters.
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$ v  z0 ^+ C6 C; G+ JRates 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.
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Making it worse, she has pets, and few places accept animals.
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Meanwhile, house sellers are facing a crunch of their own.
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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. 2 @1 z7 N! Z4 K9 T+ u3 r/ t& {

0 w2 K" J7 y, O. u"It's been slow," said Alana Schulte, whose Goldbar home has been up for sale since June. ! r/ v4 ?  h) A+ d) d# T

2 Y8 q2 \( v3 W8 G; t  m"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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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. 5 b  b! G2 A& g. y* c

; P7 ], `% |# C* hSchulte bought the house for $165,000 less than five years ago.
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Home prices skyrocketed because of investors buying up properties, said realtor Abe Hering.
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) ?" h' e+ i) C& B  c+ A+ k0 d  A% XINVESTORS A HUGE FACTOR 3 C0 g% Y, A% r+ l6 r/ n- @
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"The investors were causing the market to spiral." 5 A0 }2 L* X2 i  t0 _8 \

6 D7 R/ u: L% J4 l% c+ s% C9 n9 nThose investors have left the market, leaving mostly people looking for a home to live in. 3 S( q* ?: b+ y1 P4 u" G1 `5 }

+ m8 j* H  r7 L: U/ iHering said there's just not enough of them to cause a real frenzy and they're often nervous about the high prices. " L$ z- {# g! q- P6 ]
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The Edmonton Real Estate Board recently reported the average single-family home in Edmonton sold for $399,555 in September, down 1% from the previous month.
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发表于 2007-11-5 09:42 | 显示全部楼层
现在是大家的日子都不好过:
0 ]3 t; z4 v+ X( k有房的, 房子在贬值. - K! J% n' n# n2 N2 [0 [
没房的, 房租在上涨.
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 楼主| 发表于 2007-11-5 18:40 | 显示全部楼层
I wondered that how much the rental would be going up for just two bedroom apartment next year???
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发表于 2007-11-5 18:44 | 显示全部楼层
老杨团队 追求完美
原帖由 水管工 于 2007-11-5 09:42 发表
5 U9 p. b9 m. ~3 X5 J/ x. ^现在是大家的日子都不好过:
* i- j2 c1 q, i5 I$ U有房的, 房子在贬值. . T8 }1 V/ g8 U# {
没房的, 房租在上涨.
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: u, B, v( J$ z$ E  h1 }0 o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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