We may be running out of land, but apparently the old expo lands aren’t. The city has had tentative rights to 6 vacant lots intended for affordable housing for almost 3 decades:
Veteran architect and planner Michael Geller said it is “outrageous” that these sites haven’t been developed, but he believes talks could now be rekindled — even if the levels of government come up with a different plan for who might live in these future buildings, such as a mix of social, low-income, rental and affordable ownership. Some type of solution is required, he argued, if people are going to believe the affordable housing promises made for future developments in the city.
“When Northeast False Creek came up, I did say: Look, it’s great to promise all this affordable housing, but let’s not forget we still have these six sites undeveloped in the north shore of False Creek,’” said Geller, who was involved in the Coal Harbour development at the time.
Read the full article here.
It’s kind of fabulous how easy it is these to days to rent out your spare homes as a vacation home with an online listing. And it’s easy to find a vacation home for a short term stay as well, all you need is a credit card… or your parents credit card.
Police say they were called around 8:30 Friday night to a home on Ottawa Avenue near 24th Street and saw 200 teens flooding out of the house.
Palmer says damage is now estimated at approximately $20,000.
“Walls were kicked in, furniture was smashed, artwork was smashed, furniture was tossed off the balcony into a hot tub,” he says.
The family has agreed to pay for the damage and no criminal charges will be pursued by the owner of the rental home.
Full article here.
Vancouver detached home sales have dropped nearly 40% compared to a year ago and you know what that means?
The market for detached homes in Vancouver has softened so much that it is “beginning to enter buyers’ market territory,” says the president of the region’s real estate board.
Now get out there and transact!
It’s the end of another work week and that means it’s time for another Friday free-for-all! This is our regular end of the week news round up and open topic discussion thread for the weekend, here are a few recent links to kick off the chat:
–YVR Detached sales hit 27 year low
–RBC chief alarm over flood of cash
–Region home prices far outstrip incomes
–Real estate made up 1/5 of Canadian economy
–Tax form sharing game changer
So what are you seeing out there? Post your news links, thoughts and anecdotes in the comments below and have an excellent weekend!
Toronto is becoming a better and better investment as prices fall, you just need to buy when they’ve stopped falling. Right now they’re seeing quite a price drop.
Re-sale home prices in the Toronto region dropped 12.4 per cent, or about $110,000, year over year in February.
The average price fell to $767,818, from $875,983 for all housing categories, including detached, semi-detached, town homes and condos.
The number of sales also plunged nearly 35 per cent last month compared to Feburary 2017 — to 5,175 transactions from last year’s record 7,955, according to the latest statistics from the Toronto Real Estate Board (TREB) on Tuesday.
Read the full article here.