 鲜花( 0)  鸡蛋( 0)
|
Sun, November 4, 2007. c) c+ a- F3 L0 \% @' k
4 s; R# q6 X: F F0 cRent crunch to worsen) Y8 u% L' f7 l- B- L
Vacancy rate forecasted to dip to under 1%
3 p& M& L1 E) C) J; m/ m
; b, |7 Y: G. P" S7 mBy KEVIN CRUSH, SUN MEDIA5 N# O* K" c$ L2 C
/ F4 w5 W* T6 y) F% y6 ~/ tThink the rental market is tight now? Just wait until next year. & x) S3 \- \/ A$ h7 _: I
; ?$ b% y* ?& `" x% a0 y
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.
0 ]( [' K* `9 t, A
2 B$ O6 ?. I) L"It's just getting retarded," said Jasmine, who asked her last name not be printed. $ F' ~- }% w, r/ N: Y( ~! U% C, `3 ~
7 g8 ~3 X) e5 Q3 N; h
SIX MONTHS LOOKING
/ @& D/ R0 m% V- s3 X3 R
( I$ e3 o- z; J* RJasmine 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.
P% e) O# H! S, `, B: o
9 i/ R4 e3 ^# ~! @* w, S# x7 y6 ]0 ~
1 d* s0 S' a8 O; g; u% H% C4 Y
' @& r+ z. a v2 n' Z; zFor now, the couple has been living with her brother and mother in a three-bedroom government-subsidized housing unit.
$ m! v+ R, a7 P5 K" r. D. V
% h3 }$ S2 Z F' M6 B3 r+ OThey have been scouring the city for anything - but have found nothing in their price range, around $1,100. % ~9 Z; w7 [/ ?$ p9 |) |
- b5 g" q" H; a; Y% d/ g+ ]"I graduated from college, but I'm still working two to three jobs just to supplement the rent payments," she said.
5 w3 k ]* r3 z/ B5 @' C
4 D$ T" o; y) P1 s2 cAccording to new numbers from the Canada Mortgage and Housing Corporation (CMHC), the apartment vacancy rate for Edmonton is a minuscule 1%. ) o8 R& e# M1 P, I O% V. [
1 R! X' ~$ e8 C. L+ ZThe rent crunch isn't expected to get any better with the agency pegging the rate next October at just 0.8%. 2 B' [* U6 g1 m7 o
6 X4 X' H, T! p* @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.
2 C1 z B I5 l0 R! p8 f) s+ c, Q0 G' o* T: H& I
Rates are staying high with the average rent for two-bedroom apartments at $950 a month, up from $877 a month in October 2006.
; j( W! \- V7 n- S* U5 b! h' G" _
"With the rental rates being so high, you can only do so much," said Jasmine. 4 Z4 ?9 q# R$ ]& T) R
& x0 N2 N' J0 L S$ yMaking it worse, she has pets, and few places accept animals. ! b- O/ k F+ H) p& `2 X& d& N
. o; C# n6 f) _8 U {- M
Meanwhile, house sellers are facing a crunch of their own. * z2 o8 R# X0 z2 t# j% N
, y' v; ~6 B- l. ]# x
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. ' B; C# E3 a8 w* q! G; n- N
+ j' t( ^* z( @: h% [
"It's been slow," said Alana Schulte, whose Goldbar home has been up for sale since June.
: q. Q! u6 B- b+ h; \+ _
7 z4 T: [' h% t9 G. z; T1 f"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."
7 N4 U/ Z+ X. z0 q9 q* A3 H; _' b0 r, s3 J# ]+ x
Originally listed at $450,000, in late August, she dropped her price to $400,000 to entice buyers. So far, there have been only lookers. 0 U1 X# C$ b) J q# o' b/ y% m& h5 b
3 W0 V! f. V7 dSchulte bought the house for $165,000 less than five years ago. " d% y2 z9 T3 E, K
# ~/ {' J. h) L- L8 bHome prices skyrocketed because of investors buying up properties, said realtor Abe Hering.
9 D3 k+ q. G4 C" v# ?9 z! e/ r3 _- T" h
INVESTORS A HUGE FACTOR . G" O: ~9 B& L) F0 i6 k; e
+ |" d, k# ~# o"The investors were causing the market to spiral." 6 t5 O# f% o X% w V3 U
4 L: N" _7 x% ]; W4 B0 f$ W" C( a! WThose investors have left the market, leaving mostly people looking for a home to live in. ; C7 g6 I6 ?# q
7 \! U4 U/ i/ p% C4 ^
Hering said there's just not enough of them to cause a real frenzy and they're often nervous about the high prices. % n+ t/ X2 _- Z1 s
9 l1 U0 F5 Y# U: ^5 Q# w$ a2 r6 PThe Edmonton Real Estate Board recently reported the average single-family home in Edmonton sold for $399,555 in September, down 1% from the previous month. |
|
狗仔卡
发表于 2007-11-4 20:11
提升卡
置顶卡
沉默卡
喧嚣卡
变色卡
显身卡
' v Y- T- _$ p! U, R) s+ R2 Z) d
楼主
