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Stories Tagged - CMHC
News
Feb. 28, 2018 | Mario Toneguzzi
Survey says
CMHC report includes interesting findings on prospective homebuyers Many companies and organizations release survey results to the public regularly. Because there are so many reports to sort through and they are often self-serving, they often get ignored by the media.
However, every so often, interesting or significant findings fly under the radar, especially in the real estate industry.
A notable example of this was the recent 2018 Prospective Home Buyers Survey by the Canada Mortgage and Housing Corp (CMHC).
News
Jan. 30, 2018 | Geoff Geddes
Building progress
2017 brought positive news for the new-home market, but there's still room to improve
Will 2018 bring good news or bad news for Calgary's new-home market? As with many aspects of the real estate market, it depends on your focus.
"Looking at Canada Mortgage and Housing Corp. data, we saw an improvement in starts in both the single- and multi-family sectors in 2017," said CREB® chief economist Ann-Marie Lurie.
Will 2018 bring good news or bad news for Calgary's new-home market? As with many aspects of the real estate market, it depends on your focus.
"Looking at Canada Mortgage and Housing Corp. data, we saw an improvement in starts in both the single- and multi-family sectors in 2017," said CREB® chief economist Ann-Marie Lurie.
News
Nov. 22, 2017 | Mario Toneguzzi
Condo conundrum
A closer look at the numbers behind Calgary's apartment-style housing marketStatistics Canada recently released an interesting piece of information regarding Calgary's residential real estate market that went relatively unnoticed.
According to the government agency, the share of households in the Calgary census metropolitan area living in condominiums was 21.8 per cent in 2016. That represented the second highest percentage in the country, behind only Vancouver at 30.6 per cent, and was much higher than the national average of 13.3 per cent.
News
Nov. 08, 2017 | Mario Toneguzzi
Market on the mend
The arrow is pointing upwards for Calgary housing market as recovery continuesIt's been a tough couple of years for Calgary's housing market, as it slowly recovers from the collapse of oil prices that started in 2014.
That pain created some deep wounds for the city's economy, which shed thousands of jobs and plunged into a recession for both 2015 and 2016. The light at the end of the tunnel began to materialize this year, and the recovery is expected to fully take hold in 2018.
That's good news for the real estate market, as job growth will fuel demand going forward.
News
Sept. 13, 2017 | Tyler Difley
Buying a home: step by step
Buying a home is a momentous occasion in anyone's life. Thankfully, Canada Mortgage and Housing Corp. has some suggestions that can help you navigate the ins and outs of the home-buying process.
News
Sept. 06, 2017 | Mario Toneguzzi
To buy, or not to buy?
That is the question, but there is no easy answer that's right for everyone
It's an age-old question that still gets hotly debated, particularly by young adults who are determining where they are going to live: should I rent or should I buy?
It's not an easy question to answer, and there are no clear right or wrong answers.
"One of the big things to contemplate is your time focus, because when you do buy a home, it is a long-term commitment. It does involve a five-year mortgage that's amortized over 25 years," said Tim Gensey, a market analyst with Canada Mortgage and Housing Corp. (CMHC) in Calgary. "On the other hand, renting allows you to be a lot more flexible. You have to really consider where you are in your life and what your needs are.
It's an age-old question that still gets hotly debated, particularly by young adults who are determining where they are going to live: should I rent or should I buy?
It's not an easy question to answer, and there are no clear right or wrong answers.
"One of the big things to contemplate is your time focus, because when you do buy a home, it is a long-term commitment. It does involve a five-year mortgage that's amortized over 25 years," said Tim Gensey, a market analyst with Canada Mortgage and Housing Corp. (CMHC) in Calgary. "On the other hand, renting allows you to be a lot more flexible. You have to really consider where you are in your life and what your needs are.
News
Aug. 16, 2017 | Kathleen Renne
Targeting tenants
Challenges continue for Calgary's rental market
"Very cautious optimism" is how Gerry Baxter, executive director of the Calgary Residential Rental Association, describes the industry's view of Calgary's current rental landscape.
While Canada Mortgage and Housing Corp. (CMHC) pegged Calgary's rental vacancy rate at seven per cent last fall – the highest it's been in more than 25 years – Baxter says he thinks residential vacancies in the city are actually closer to the eight-to-10-per-cent range.
"There's been some slight improvement in the rental market over the last few weeks, but it's still a challenge to rent," said Baxter, attributing the slack rental market to the economic downturn that started in late 2014 and early 2015.
"Very cautious optimism" is how Gerry Baxter, executive director of the Calgary Residential Rental Association, describes the industry's view of Calgary's current rental landscape.
While Canada Mortgage and Housing Corp. (CMHC) pegged Calgary's rental vacancy rate at seven per cent last fall – the highest it's been in more than 25 years – Baxter says he thinks residential vacancies in the city are actually closer to the eight-to-10-per-cent range.
"There's been some slight improvement in the rental market over the last few weeks, but it's still a challenge to rent," said Baxter, attributing the slack rental market to the economic downturn that started in late 2014 and early 2015.
News
Aug. 02, 2017 | Tyler Difley
Compare and contrast
How Calgary's housing market stacks up against other major centres
When it comes to the housing market and the availability of affordable options, people often lose sight of the big picture. Instead of obsessing over the minute details of the market in any one particular city, it can be helpful to take a step back and examine things in a broader context to provide points of comparison. This dose of perspective helps one to remember that while $400,000 might seem like a lot to ask for a detached home in one city, in another major metropolitan area, people might be hard pressed to find a home for less than twice that amount.
When it comes to the housing market and the availability of affordable options, people often lose sight of the big picture. Instead of obsessing over the minute details of the market in any one particular city, it can be helpful to take a step back and examine things in a broader context to provide points of comparison. This dose of perspective helps one to remember that while $400,000 might seem like a lot to ask for a detached home in one city, in another major metropolitan area, people might be hard pressed to find a home for less than twice that amount.
News
Aug. 16, 2017 | Geoff Geddes
Trickle-down effect
How economic indicators actually drive the housing market
What do unemployment, migration and oil prices have in common? Apart from being touchy subjects at a party, they all influence the Calgary housing market to some extent. Understanding how and why that happens could provide an advantage when planning a home sale or purchase.
"In many cases the impact is indirect," said Ann-Marie Lurie, chief economist for CREB®.
One part of that impact relates to demand.
What do unemployment, migration and oil prices have in common? Apart from being touchy subjects at a party, they all influence the Calgary housing market to some extent. Understanding how and why that happens could provide an advantage when planning a home sale or purchase.
"In many cases the impact is indirect," said Ann-Marie Lurie, chief economist for CREB®.
One part of that impact relates to demand.
News
May 26, 2017 | Nathan Michaels
Borrowing made easy
First-time Home Buyers' Plan offers a path to ownership
A house can be a great investment, but saving enough for a down payment can be difficult. The Home Buyers' Plan (HBP), offered by the Government of Canada, is a program that aids the purchase of a first home by allowing part of a registered retirement savings plan (RRSP) to be withdrawn as a tax-free down payment in cash.
"This is about the only program that is available now through the federal government," said David P. Brown, president of CREB®.
