Tag Archives: rent

FFFA! It’s Friday again!

Well well, look at that, you made it to the end of another work week.

This is Friday and that means it’s time for another Friday Free-for-all, our regular end of the week news round up and open topic discussion thread for the the weekend.

Here are a few recent links to kick of the chat:

Can the industry police itself?
Ultimate buy / rent calculator
Boom a bust for heritage buildings
Canada job market not quite best
Leaving the city for better economics
Tiny homes
Is the worst over for Looney?

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

Renting: The last, best real estate bargain?

Somebody at the Sun has started looking at rent / buy ratios.  

Many Franks posted this in the comment section yesterday:

Barbara Yaffe discovers renting. Contains a few groaners. Renting a place may be the last, best real estate bargain and a majority of the city’s residents are taking full advantage

Vancouver rents have remained reasonable in part because of a 2.2-per-cent limit on annual increases imposed by the provincial government.

NO! Bad Barbara.

In a recent bulletin, [David and Mark Goodman] report Canadian Mortgage and Housing Corporation numbers that demonstrate it’s 32.5-per-cent cheaper to rent rather than own a one-bedroom unit in Vancouver.

“The gap increases considerably once strata fees, maintenance costs and taxes are taken into account.”

WTF kind of buy/rent comparison EXCLUDES strata/maintenance and tax?

Apartment building owners in Vancouver since 2007 have faced a municipal moratorium on the demolition of rental housing stock, and are reluctant to evict tenants in order to do needed upgrades.

Renoviction. When a phenomenon is popular enough to coin its own term, “reluctant” might be overstating the case.

The Goodmans are predicting that landlords of these older, minimally upgraded buildings soon may find themselves confronting tough new competition.

They report as many as 49 rental buildings, with 5,849 suites, could come on stream in the region within the next three years.

And the popularity of renting in Metro Vancouver may grow, says the Goodman Report, because of an increasing wariness about Canada’s possibly overvalued real estate.

“We live in a very special place with abundant resources and continuing investment from abroad,” says the newsletter. But with all the housing-bubble talk, “as a B.C. real-estate owner you’re wise to be cautious.”

FFFA! What does the blog think?*

It’s that time of the week again!  Free-for-all time!

This is our regular end of the week news round up and open topic discussion thread for the weekend.

Vancouver bubble does its own thing
VancouverPriceDrop is back
Buy or Rent?
A Vancouver Calculator
Locals bid up prices, blame outsiders
Latest stats, 21 months since peak?
Singapore headed for Iceland style meltdown?

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

*The blog doesn’t think. The blog is made up of comments from thousands of different people, some of whom agree with one another, some who don’t.   

Cult of ownership in trouble?

The Globe and Mail has an article about shifting perceptions on home ownership in Canada.

Based on a very small sample size, they are predicting that young people in Canada are becoming less willing and able to buy property.

“Last year, in a class of 29 students, a clear majority said they would buy,” Prof. Harris wrote me in an e-mail. “I was surprised because I had spent a lot of time speaking about the dangers of price bubbles, and about the opinion of most experts that the markets in many Canadian cities had moved, or were moving, into bubble territory.”

This year, only five of 23 said they’d buy and 18 chose to rent. “Although the assignment was the same and the content of my lectures pretty much the same, the pattern of response was very different,” Prof. Harris wrote.

Its certainly not what you’d call a wide ranging survey, so what do you think?  Are attitudes towards home ownership changing in Canada or do all the kids still want real estate?

Friday Free-for-all! December is here!

Hey!

If you’ve been keeping track of the days in the work week you know what time it is – Friday Free For All Time!

This is when we do 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:

Rent Vs Buy in BC
Rent Vs Buy south of there
Blame Canadas Big Bubble
Toll the border?
Abandoned homes up for grabs?
Realtor Hunger Index
Sunshine Coast Stats
London asks UK for foreign buyer tax

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