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Affordable Housing is a Human right, Right?



Tenants to Buy Instead of Renting

The National Government and Ontario’s Ford Administration have made efforts to promote building starts in Canada. They are attempting to cut the red tape and regulation of their own governments upon the developers who seem to be responsible for building more houses. Well, that is a good start, but these political moves only assist those who can afford million-dollar homes. These politicians are helping their friends in the Real Estate and Development sectors only, as well as the well-off who can afford the costly homes we presently have to choose from. Limiting Foreign Corporations and individuals to buy existing and future homes only helps those who have the funds to invest in these costly homes.

Developers will continue to build costly homes. Let me rephrase that. Developers will continue to price new homes at highly costly prices because they can. That’s what they are in business for, to make profits. The Real Estate Sector and those who presently own homes will also continue to escalate home prices.
That is a given. Passive Investors care only about the profits they will make, and not about Ontarians’ or Canadian’s ability to afford that which many are competing for, a home to live in.

Homebuyers, and more importantly potential renters of apartment-style homes are unimportant casualties of the present-day buying frenzy. On the right side, we find those who sell and build who have no intention of creating affordable housing. On the left side are those with no imagination or know-how to assist those in the middle, those looking for a place to live. Canadians have had thousands of Syrian refugee’s coming into Canada. and in the near future, thousands of Ukrainian refugees will be added to the competition for home locations, and home acquisition. Where are these people going to live?

Canada’s economic system, in relation to the real estate and development sector, is in need of drastic changes. A more selfish group you cannot find anywhere in Canada. The system they have created has caused the ballooning of housing potentials in all of Canada’s larger cities. They drive up prices and their commissions too and also build mass housing that will be overpriced to meet the market prices they have set. No real help from this sector can be found.

The Government wants to use this sector to fulfill its pledges to create affordable housing, but every time they are hoodwinked by the sector. Apartment Buildings in Canada are rarely found. The very way we view housing needs to be changed. In Europe, Asia and most of the world renting an apartment is commonly done, and has no social stigma attached to it, while in Canada the “Canadian and American Dream” of homeownership is still promoted by the developers/real estate sectors and our governments.

The various governments of Canada have ownership of land being unused. Build apartment buildings that will stand the challenges of time and rent these out to people as starter homes, permanent homes, but not investments. A two-bedroom apartment should not go for more than a thousand dollars a month. Fill our empty fields with well-made apartment buildings owned by municipal or provincial governments.
End the dictatorship over housing starts, controlled not by the people, but by groups and corporations of the real estate and developers Cabal/Cartel. Yes, this Cartel is limiting every one of us from finding a place to live. They buy up scarce land all over the place and leave this land undeveloped. A falsely created scarcity of housing is developed, driving up prices across our nation. Price fixing is a crime, yet this group of business people are allowed to do the same thing. The Government is also accountable for allowing this catastrophe to occur. Governments find revenue they charge off of these costly housing starts addictive in nature.

Canadians need to look into the relationship that is found between the real estate/developers sector and our various governments. Should there be any shenanigans found, it would explain why Canadians cannot find affordable or accessible housing. End the Housing Cartel’s reach into your pockets, as well as those of our elected officials. Do Developers and Real Estate Giants donate to politicians? OH YAH.
In Ontario, we have Hwy 413, where the developers are committing highway robbery. Yeah their making a bundle, and their friends of the Conservatives presently. In Regina this February, the mayoral candidates received large donations from the developers of the region. In 2016 it was Land Developers who helped raise $12.9 Million to the Ontario Conservative Party. The Ontario Liberals of the past were also well known to accept donations from these sectors.

What to do about Canada’s Housing Portfolio?
1. Governments need to become directly involved in the financing and building of affordable homes, apartment buildings and large housing unit structures across the nation.
2. The influence of the real estate and developers sector must be ended. Appropriate taxation of these sectors must be applied. Unused land must be taxed, raising needed revenue and inspiring the industry to build for the future.
3. End financial donations directed to political parties by this real estate and developers sector. Greasing the politician’s hands must end.
4. Imaginative and affordable housing styles must be developed and introduced in Canada.

example: In Woodbridge, Ontario there is a firm that develops, builds and sells globally builds Portable winterized Homes, easily assembled and long-lasting. Why not in Canada.
5. Our expectations of a home must change. North American society is a Privileged Society. Young people want what their parents were able to acquire in time. An approach rooted in need is required here. Massive residential houses are for the rich. Durable livable spaces are what’s required.

The Government has spent massive amounts of revenue trying to grow the economy, most of this revenue borrowed. Building affordable housing starts in whatever style is needed seems the appropriate plan for the future. Every lifestyle and income needs to be considered. Housing is a human right! Right?

Steven Kaszab
Bradford, Ontario

Real eState

This is what $1-million will get you in real estate markets across Ontario – CTV News Toronto



Both the Canadian and Ontarian real estate markets saw a record-breaking first quarter in 2022, with housing prices reaching new heights and sellers remaining well-positioned.

As of March, the average price of an Ontario home was $1,052,920. In the Greater Toronto Area, the average price is sitting at $1,269,900.

The Greater Toronto Area isn’t the only area breaking real estate records in the first quarter of the year either — prices of detached homes in the four Golden Horsehsoe communities — Barrie, Cambridge, Kitchener-Waterloo and Oshawa  — all surpassed $1 million for the first time.

The rise in prices is indicative of a larger national trend. Since last year, the national average home price climbed by more than 20 per cent to hit a record $816,720 in February.

With so many price tags hovering around the $1-million mark, buyers might be wondering how far a budget of that amount could get them across Ontario’s real estate markets.

Well, it depends on where you’re looking.

Here are a selection of Ontario real estate listings for under $1 million.


117 North Bonnington Ave can be seen above. (RE/MAX)

Address: 117 North Bonnington Avenue, Toronto, ON.

Property type: Townhouse

Asking price: $999,900

Bedrooms: Three

Bathrooms: Two


22 – 93 Gage Ave can be seen above. (RE/MAX)

Address: 22 – 93 Gage Avenue, Kitchener, ON.

Property type: Condo

Asking price: $829,000

Bedrooms: Three

Bathrooms: Three


533 Mountbatten Crescent can be seen above. (RE/MAX)

Address: 533 Mountbatten Crescent, Windsor, ON.

Property type: Detached home

Asking price: $999,900

Bedrooms: Four

Bathrooms: Three


59 Janey Avenue can be seen above. (RE/MAX)

Address: 59 Janey Avenue, North Bay, ON.

Property type: Detached home

Asking price: $779,900

Bedrooms: Five

Bathrooms: Three


711 Spring Valley Drive can be seen. (Google Maps)

Address: 711 Spring Valley Drive, Ottawa, ON.

Property type: Detached home

Asking price: $999,900

Bedrooms: Four

Bathrooms: Three


23 Windsor Circle can be seen above. (RE/MAX)

Address: 23 Windsor Circle, Niagara-On-The-Lake, ON.

Property type: Townhouse

Asking price: $999,900

Bedrooms: Four

Bathrooms: Four


2316 Falconcrest DrIve can be seen above. (RE/MAX)

Address: 2316 Falconcrest Drive, Thunder Bay, ON.

Property type: Detached home

Asking price: $969,000

Bedrooms: Four

Bathrooms: Four


908 Halle Street can be seen above. (RE/MAX)

Address: 908 Halle Street, Hearst, ON.

Property type: Detached home

Asking price: $750,000

Bedrooms: Four

Bathrooms: Two


1177 Crumlin Sideroad can be seen above. (RE/MAX)

Address: 1177 Crumlin Side Road, London, ON.

Property type: Detached home

Asking price: $999,000

Bedrooms: Five

Bathroom: Three


207 Dunsmore Lane can be seen above. (RE/MAX)

Address: 207 Dunsmore Lane, Barrie, ON.

Property type: Detached home

Asking price: $999,000

Bedrooms: Six

Bathrooms: Four

With files from CP24’s Chris Fox. 

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Prime Retail Real Estate Is Hot And Retailers Will Pay More For It – Forbes



As if retailers don’t have enough challenges with ongoing supply chain issues, recruiting and retaining staff and shoppers spooked by rising prices, now they have another worry. Prime retail real estate is in high demand and rental rates are rising accordingly.

That’s good news for REITs and other retail real estate owners and property managers but bad news for retailers that have to work rising real estate prices onto their balance sheets. It’s the simple economic law of supply and demand.

Retailers are opening new stores far faster than they are closing them, creating a fierce fight for the best spaces. At the end of 2021, the National Retail Federation reported that major U.S.-headquartered retailers announced more than 8,100 new store openings, more than double the 3,950 closings planned.

Through January 2022, a month popular for retailers to announce their opening and closing plans, the gap between the number of openings and closings is even wider – 1,190 openings to 742 closings, according to Coresight Research.

Simon Property Group, the largest U.S. mall property owner, just reported its occupancy rates reached 93.3% at the end of March, up from 90.9% last year.

In the earnings call, CEO David Simon said it had signed more than 900 leases for over three million square feet in the quarter and added there was a “significant number of leases in our pipeline.” Given its positive outlook, SPG also raised its previous guidance.

Demand exceeds supply

Real estate investment firm JLL Capital Markets has just completed a study of the trending retail real estate markets and I sat down with Danny Finkle, retail co-leader in JLL’s capital markets and co-head of its Miami office, to discuss the findings.

“Retail follows consumers, rent growth follows both, and investors follow all three,” he said. “It all comes down to diminishing supply with a consistent and growing demand from the user in the retail space.”

Reducing supply is a low level of new retail development which is not likely to turn around soon due to the rising cost of construction and building materials. Adding another complication is the large amount of existing square footage in malls, open-air retail centers, and other spaces that have been repurposed for alternative uses.

Driving increased demand for space is retailers’ recognition that even with a strong e-commerce presence, they need to maintain an equally strong brick-and-mortar presence. So even established retailers that may have reduced their existing retail fleet are starting to open new stores again.

And digitally-native B2C retailers are now making tracks to physical retail which is creating even greater competition for prime retail space.

Reducing supply is the overall low level of new retail development which is not likely to turn around soon with the cost of construction and building materials going through the roof. Adding further complication is the amount of existing square footage in malls, open-air retail centers, and others repurposed for alternative uses.

Where it’s hot

Eight markets top the list in growth potential, according to JLL’s analysis:

· Nashville, showing over 60% growth in rental rates since 2011;

· South Florida, up nearly 50%;

· Austin and Tampa both at 39%;

· Denver at 37%; and

· Charlotte, Dallas-Fort Worth and Raleigh-Durham around 30%.

Among major cities, Chicago is an outlier with net absorption rates significantly higher than number two Washington, DC, followed in order by Boston, Philadelphia, Los Angeles, San Francisco and New York City trailing the pack.

“Retailers need to be where the people are and while workers will eventually return to downtown urban areas, right now we have to pay attention to where people are moving, as well as working,” he shared.

Where it’s not

A recent analysis of Census data conducted by Brookings Institute showed an “outsized” decline in the size of the nation’s 56 major metropolitan areas (defined as exceeding one million residents). People are moving to smaller metro areas in droves with even stronger growth to non-metropolitan areas.

The biggest losers were New York, Los Angeles, San Francisco and Chicago in 2021 and Boston, Miami, Washington, DC, Seattle, Minneapolis-Saint Paul and Philadelphia all went from growth in the 2019-2020 period to a decline in 2020-2021.

Retailers will need to keep their ear close to the ground as to how the trend in work-from-home, either full-time or increasingly part-time, changes the traffic patterns in the nation’s downtowns. They also may be able to grab attractive urban retail spaces on the cheap in the meantime.

As for retailers looking to secure suburban retail spaces, Finkle says the market will remain very competitive.

“If you look at the amount of new retail development, it is a minuscule percentage, at a 50-year low. And the prospect for new development on a go-forward basis is also remarkably low. It’s hard to believe that anyone is going to build a new enclosed mall in the near future.

“But people still want to get out and shop and retailers need to be there for them,” he concluded.

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Real estate market on P.E.I. shows only slight signs of cooling –



There are signs P.E.I.’s red-hot real estate market could be starting to cool — but that doesn’t mean it’s going to be any easier to break into the Island’s competitive real estate market.

Nationally, the market showed signs of cooling in March as both the number of homes sold and the average selling price declined compared to the previous month. But that’s not the case on P.E.I. 

“The flattening hasn’t necessarily hit us yet here,” said James Marjerrison, the newly minted president of the P.E.I. Real Estate Association. 

“But I would not be surprised, with rising interest rates and record highs, that there would be a bit of a flattening period — I just haven’t seen that just yet.” 

The latest stats show prices continue to rise, for now. According to the P.E.I. Real Estate Association, of the 194 homes or units that sold on P.E.I. in April, the average price was a record $414,742, up more than 20 per cent from April 2021.

Low inventory

Despite those record prices, there were fewer homes sold in April on P.E.I. — almost 23 per cent fewer compared to last April’s all-time record sales. During the first four months of 2022, there were nine per cent fewer home sales than the same period last year. 

James Marjerrison, president of the P.E.I. Real Estate Association. (Submitted by James Marjerrison)

That’s because, in part, there were fewer homes available to sell — what agents call low inventory. The number of new listings on the Island in April, at 265, was down more than 17 per cent from April 2021.

None of which is good news for buyers hoping the market cools so they can buy their first home or move up to a larger home.

“If housing prices were to fall a bit or if there was a bit of a correction, you might think that it could make it more affordable for people getting into the market,” said Marjerrison.

“But if interest rates continue to rise, that could put more pressure on affordability in terms of the monthly payment and the stress test, so that could level it off.” 

Buyers might need to come up with a bigger down payment to keep their monthly mortgage commitments more manageable considering the higher interest rates, he explained. 

“It’s a bit of a shell game when you’re juggling interest rates and house prices.” 

‘Blessing and a curse’

Shaun Cathcart, a senior economist with the Canadian Real Estate Association who spoke to CBC P.E.I. from his home in Ottawa, said prices are rising more slowly than they were a year ago, which represents “a very slow topping out.” 

“Our forecast is for things to sort of flatten out and to some extent … they kind of have been,” he said.

‘More affordable markets tend to be more immune to [mortgage] interest rate increases like this,’ says Shaun Cathcart, a senior economist with the Canadian Real Estate Association based in Ottawa. (CBC)

The spike in mortgage rates in March saw more expensive markets in Canada cooling quickly in April. 

“Not so much in P.E.I.,” Cathcart explained. “More affordable markets tend to be more immune to interest rate increases like this.” 

The wild card for the Maritime provinces of P.E.I., New Brunswick and Nova Scotia is buyers coming from outside the region who have just sold their homes in a hot market, and have plenty of money to spend, he said. They don’t care about mortgage rates, he said, because homes are still comparatively very affordable.

“It’s a blessing and a curse that it can keep activity going at a higher level than you’re seeing elsewhere in Canada, where we’ve seen some big slowdowns, but it’s also not great for locals competing for an almost record-low inventory of homes for sale.” 

‘Going to make it worse’

Marjerrison said he has heard from potential buyers who have decided to keep renting until real estate prices come down.

If Cathcart’s predictions hold true, those buyers could be waiting a very long time.

Fewer homes for sale on P.E.I. means prices have continued to rise, CREA says. (Jonathan Hayward/Canadian Press)

In fact, he said the current market could make it even more difficult for locals who’ve been priced out of the market in the last few years. 

“I think it’s going to make it worse,” Cathcart said.

“Typically what happens when markets slow down is you get a disconnect between buyers and sellers: sellers still want what the house across the street sold for last year, and buyers are not able to offer as much, or not willing to, and so what happens is the transaction doesn’t happen.”

Low inventories will rebuild as those homes sit on the market longer, he said, and prices will eventually flatten. 

Affordability is going to come by way of decreasing the scarcity of homes.— Shaun Cathcart— Shaun Cathcart

“You go from everything selling to multiple offers, to the nicest homes still getting their asking prices and some of the other ones sitting around,” he said.

“That’s what I would expect: a flattening out of prices and a more normal number of sales. And that’s what our forecast is for most places in Canada.” 

Mortgage rates will drive the change, Cathcart said. Bank rates that were 3.3 per cent last month have risen almost a full percentage point in one month, to 4.1 per cent. 

“The market’s getting out in front of what the Bank of Canada is expected to do, which is to go from the overnight rate of one per cent right now to close to three per cent by the end of this year,” he said.

Fixed mortgage rates at banks have already priced in that prediction, he said. 

The good news is if you are looking for a mortgage now, interest rates are unlikely to rise much more, he believes.

“It’s just going to be the variable rates playing catch-up with that over the rest of the year,” he said. 

‘It’s going to increase inequality’

The combination of all these factors will hit first-time buyers the hardest.

Homeowners have had several years of building huge amounts of equity in their homes, Cathcart said, which means those looking to move will continue to outbid first-timers. 

“If anything, it’s going to increase inequality, which is already terrible,” he said. “Where the haves can continue to have and move around, and the have-nots, it just makes it harder for them to acquire their first home … It’s unfortunate.”

Cathcart said CREA has been encouraging politicians to invest more in new housing. It’s the only way they see the housing crunch being alleviated, he said, but it’s easier said than done. 

He believes the key is higher-density multi-unit development such as townhouses with “less space for cars and more space for people.” 

“Affordability is going to come by way of decreasing the scarcity of homes, because the population is just going to keep on increasing” with international immigration, he said. 

The scarcity of homes in turn has put, and will continue to put, pressure on rental markets, Cathcart said, and price low-income Canadians out of even renting. 

“Maybe it’s a little bit depressing … but these are things we have to think about,” he said. 

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