Calgary's trusted source of real estate news, advice and statistics since 1983.
Stories Tagged - Canada Mortgage & Housing Corporation
News
May 11, 2017 | Barb Livingstone
The affordability equation
New mortgage rules plus cost factors equal big decisions for today's home buyer
Brad Ridler sounds like many first-time homebuyers, anxious to move into his just purchased condo and start putting "a lot of good things in motion."
But when the 32-year-old Ridler and his fiancée Courtney Boyce started their home search more than a year ago, the marketing professional was acutely aware of all the obstacles, including certain financial requirements associated with new mortgage rules.
Brad Ridler sounds like many first-time homebuyers, anxious to move into his just purchased condo and start putting "a lot of good things in motion."
But when the 32-year-old Ridler and his fiancée Courtney Boyce started their home search more than a year ago, the marketing professional was acutely aware of all the obstacles, including certain financial requirements associated with new mortgage rules.
News
Jan. 09, 2017 | Joel Schlesinger
Bottoms up
After a tough year for the 'other half' of Calgary's real estate market, the city's apartment/attached segments are expected to see gradual turnaround in 2017
Lower prices and added choices created buyers' conditions in Calgary's attached and apartment sectors in 2016. But a slow recovery is expected in 2017, bringing both sectors into better balance, says CREB®'s 2017 Economic Outlook & Regional Housing Market Forecast.
The degree to which they'll the "other half" will get there will differ, however. While the attached sector is set to post positive overall numbers, apartment sales and prices will be moderated by persistently high inventory levels.
Lower prices and added choices created buyers' conditions in Calgary's attached and apartment sectors in 2016. But a slow recovery is expected in 2017, bringing both sectors into better balance, says CREB®'s 2017 Economic Outlook & Regional Housing Market Forecast.
The degree to which they'll the "other half" will get there will differ, however. While the attached sector is set to post positive overall numbers, apartment sales and prices will be moderated by persistently high inventory levels.
News
Jan. 10, 2017 | Barb Livingstone
Rinse and repeat
Housing experts predict Calgary's rental market to see another year of high vacancies, low rents
Calgary's rental housing market this year will not change much from 2016 as historically high vacancy rates will continue to usher in incentives and lower rents, say experts.
"We expect the vacancy rate to remain close to 2016 levels" said Richard Cho, Calgary-based principal market analyst for Canada Mortgage and Housing Corp. (CMHC).
Calgary's rental housing market this year will not change much from 2016 as historically high vacancy rates will continue to usher in incentives and lower rents, say experts.
"We expect the vacancy rate to remain close to 2016 levels" said Richard Cho, Calgary-based principal market analyst for Canada Mortgage and Housing Corp. (CMHC).
News
Jan. 10, 2017 | Barb Livingstone
Signs of recovery
Housing officials expect new builds to post slight rebound in late 2017
"Turbulent." That's how the head of Calgary's homebuilders and developers group describes the new housing market in 2016.
And 2017?
"Recovery," said Allan Klassen, chair of the recently merged Canadian Home Builders' Association—Urban Development Institute Calgary (CHBA-UDI Calgary).
"Turbulent." That's how the head of Calgary's homebuilders and developers group describes the new housing market in 2016.
And 2017?
"Recovery," said Allan Klassen, chair of the recently merged Canadian Home Builders' Association—Urban Development Institute Calgary (CHBA-UDI Calgary).
News
Dec. 23, 2016 | Barb Livingstone
Renters' market
Economic conditions create ideal situation for renters, challenges for landlords
In the most volatile economy in the country, it is no big surprise Calgary landlords endured 2016 with the highest rental housing vacancy rate in a quarter of a century.
"It is a free market economy, with all the ups and downs, and in the middle of (this downturn), you just hope many will survive it," said Gerry Baxter, executive director of the Calgary Residential Rental Association (CRRA) of Calgary's current seven per cent vacancy rate.
In the most volatile economy in the country, it is no big surprise Calgary landlords endured 2016 with the highest rental housing vacancy rate in a quarter of a century.
"It is a free market economy, with all the ups and downs, and in the middle of (this downturn), you just hope many will survive it," said Gerry Baxter, executive director of the Calgary Residential Rental Association (CRRA) of Calgary's current seven per cent vacancy rate.
News
Dec. 08, 2016 | CREBNow
Foreign interest in apartment sector unchanged: report
National activity down from 2015, but consistent with 2014, says CMHC
Foreign ownership of condominium-style apartments in Calgary this year is unchanged from a year prior and continues to represent a small proportion of the total market, according to a new report.
In a recent briefing, Canada Mortgage and Housing Corp. (CMHC) noted foreign buyer activity in the city's apartment sector represented 0.9 per cent of all activity in 2016. That's down from 1.1 per cent in 2015, but up from 0.2 per cent in 2014.
Foreign ownership of condominium-style apartments in Calgary this year is unchanged from a year prior and continues to represent a small proportion of the total market, according to a new report.
In a recent briefing, Canada Mortgage and Housing Corp. (CMHC) noted foreign buyer activity in the city's apartment sector represented 0.9 per cent of all activity in 2016. That's down from 1.1 per cent in 2015, but up from 0.2 per cent in 2014.
News
Dec. 02, 2016 | Barb Livingstone
Future of housing
Stakeholders say Alberta can't be overlooked when creating national strategy
As the federal government moves closer toward a national strategy on housing, key Alberta stakeholder groups say recognition of different local and regional challenges is critical to any policy changes.
"We are encouraged the federal government is doing this, but we are hoping its actions will be localized," said Kevin McNichol, vice-president of strategy for the Calgary Homeless Foundation, leader of the city's plan to end homelessness.
"In Calgary, we have the highest median income in the country, so it might be easy to overlook us. But we also have the lowest rate of affordable housing in Canada."
As the federal government moves closer toward a national strategy on housing, key Alberta stakeholder groups say recognition of different local and regional challenges is critical to any policy changes.
"We are encouraged the federal government is doing this, but we are hoping its actions will be localized," said Kevin McNichol, vice-president of strategy for the Calgary Homeless Foundation, leader of the city's plan to end homelessness.
"In Calgary, we have the highest median income in the country, so it might be easy to overlook us. But we also have the lowest rate of affordable housing in Canada."
News
Dec. 16, 2016 | Miles Durie
'Tis the season
Debt might be a fact of life this time of year, but experts warn of long-term impacts
With the holiday shopping season shifting into high gear, many Calgarians will be reaching for their credit cards.
But those decisions about taking on debt to put smiles on faces can be the unwelcome gift that keeps on giving, putting the squeeze on your ability to qualify for your first — or next — mortgage, say experts.
"Where people sometimes make a big mistake is they don't realize how much of an impact their debt has," said mortgage broker Joe Jacobs, president of Mortgage Connection Inc. in Calgary.
With the holiday shopping season shifting into high gear, many Calgarians will be reaching for their credit cards.
But those decisions about taking on debt to put smiles on faces can be the unwelcome gift that keeps on giving, putting the squeeze on your ability to qualify for your first — or next — mortgage, say experts.
"Where people sometimes make a big mistake is they don't realize how much of an impact their debt has," said mortgage broker Joe Jacobs, president of Mortgage Connection Inc. in Calgary.
News
Oct. 31, 2016 | CREBNow
Calgary housing market 'overvalued'
CMHC assessment unchanged from April
Calgary's housing market continues to exhibit signs of over-valuation as economic and demographic fundamentals have altered demand, says a new report.
In its housing market assessment released this week, Canada Mortgage and Housing Corp. (CMHC) noted moderate signs of over-valuation tag due to labour market conditions that have been weak and the seasonally adjusted unemployment rate averaged 8.3 per cent, up considerably from the preceding 10-year monthly average of five per cent.
It's the second time this year that CMHC has noted problematic conditions in Calgary's housing market, the last time being in April.
Calgary's housing market continues to exhibit signs of over-valuation as economic and demographic fundamentals have altered demand, says a new report.
In its housing market assessment released this week, Canada Mortgage and Housing Corp. (CMHC) noted moderate signs of over-valuation tag due to labour market conditions that have been weak and the seasonally adjusted unemployment rate averaged 8.3 per cent, up considerably from the preceding 10-year monthly average of five per cent.
It's the second time this year that CMHC has noted problematic conditions in Calgary's housing market, the last time being in April.
News
Oct. 14, 2016 | Joel Schlesinger
Goodbye YVR, hello YYC?
Housing officials say foreign investment shift too early to tell; still unwavering on city's potential
Calgary could be the new Vancouver. At least that's what has some real estate observers maintaining more than two months after the B.C. government imposed a 15 per cent land transfer tax on real estate purchases by foreign buyers in the province's most populated city.
Aimed at dampening foreign investment—mostly from mainland China, which has been suspected of pushing up demand and prices in markets such as Vancouver where the benchmark price for a home is close to $1 million – the tax appears to be working.
Calgary could be the new Vancouver. At least that's what has some real estate observers maintaining more than two months after the B.C. government imposed a 15 per cent land transfer tax on real estate purchases by foreign buyers in the province's most populated city.
Aimed at dampening foreign investment—mostly from mainland China, which has been suspected of pushing up demand and prices in markets such as Vancouver where the benchmark price for a home is close to $1 million – the tax appears to be working.