Tag Archives: housing

CMHC and the rental housing market

Over at the The Star, our mayor has helped to write an opinion piece asking that the CMHC provide more loans for rental housing construction:

For most of us, housing is our biggest expense. One out of every five dollars we earn goes to build, buy, rent and run our homes. Facing high home prices, large personal debts, and an uncertain economy, fewer Canadians can buy a new home today than in the past, and they are choosing to rent instead.

Unfortunately, in many cities finding an affordable place to rent is nearly impossible. The most immediate problem is supply. Vacancy rates under 3 per cent push rents up. In Vancouver and the Greater Toronto Area, it’s 1.4 per cent.

Vacancy rates this low force our young people to move out of the city, threaten seniors on fixed incomes, and have a negative impact on local businesses.

That’s why this spring’s federal budget must put Canada’s rental housing market on solid ground, by pursuing low-cost, high-leverage policies that get jobs on the ground and build housing Canadians can afford.

It’s like magic, creating jobs and homes.  What could go wrong with a ‘low-cost, high-leverage’ policy like that?

Friday Free-for-all on the new site!

Hello everybody, it’s Friday and you know what that means.. It’s Free-for-all time, our end of the week news roundup and open topic discussion thread.

Here are a few recent stories to kick off the chat:

BOC warns of ‘debt shock’ if house prices drop
Inventory graph: growth slowing but still steep
RRSP contributions shrink to 1970s levels
Mortgage fraud blooming in Canada
Our debt vs. pre-meltdown levels in USA
Housing Collapse in mississauga. literally.
Shill article linked by Forbes gone from Vancouver Sun?
First time buyer bonus to make a difference in suburbs

If you haven’t been here for a few days you’ll notice some changes. We’ve done a full site overhaul and upgrades and that just might mean somethings aren’t fully working yet.

Please post any issues in the comment section.  We can’t promise they’ll all be addressed, but we’ve been pretty good about responding to requests so far.

A few new things of note:

Formatting Numbers:

For those that like to post numbers in a table format, we’ve added the PRE html tag to help control formatting and a new comment preview button at upper right of the comment box.

This new comment workaround and preview system might help when you’re posting number data.

Avatars

For those of you that don’t like Gravatar, we have a new local avatar feature. When you log into your VCI account you’ll see your user profile edit page. Scroll down to the bottom of the page and you’ll find a place to upload an avatar.

User Account Cleanup

We’ve had lots of spam account signups lately and we’re starting to purge the user roles for both cleanliness and security. The best way for you to confirm that you’re human is to post an on topic comment after registering for an account. If you register for an account and don’t post any comments your user account will be deleted, especially if your registration email goes to something like spammer@wowfreemoney.con

That’s about it for now, let’s get on with the conversation.

So what are you seeing out there? Post your news links, thoughts and anecdotes here and have an excellent weekend!

 

Update: Patriotz linked to this image of the Macleans March 5th cover, it’s a doozy: