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More and more new homes sitting vacant in some areas

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Real Estate Professional | 23 Nov 2015, 08:15 AM Agree 0
While Toronto and Vancouver are booming, some markets are seeing an increase in unabsorbed new homes
  • Kosta Baltov | 29 Nov 2015, 03:34 PM Agree 0
    The article forgets to analyze the rent itself. In Toronto, the Rent Control Board restrict the landlords of raising the rent beyond certain percentage which can be argued that it is set too low. The longer the tenant stays in a rental property, over time, the rent gets cheaper for the tenant which is why they don't want to move to another property. If they do, they'll have to pay a current market rate and because of that they (rightfully) stay put. If this reality is taken into account, may be, after all, our rent is undervalued. Something to think about.
  • Robin Telfer | 30 Nov 2015, 01:50 PM Agree 0
    For too long, this province was riding on an economic high. Over the years, Calgary went from an affordable city to one that became very expensive. The cost of food, entertainment and restaurants, recreation facilities, parking increased dramatically. This was based partly on the rising values of Real Estate. During our economic slowdown, the market place still hasn't adjusted to levels established 10 years ago. The latest forecasts are saying that the price of oil will not rebound for another 4 years. Let's hope that within that extended time frame, day to day living costs adjust accordingly and our Real Estate prices reflect a market value that many Albertans' can afford to support.
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