Real Estate Window Shopping Summary

Some evidence is that globeville saw an increase of 67% in home values in the last year, more people from out of the states come to denver colorado and don't mind paying the rent here because they don't live here. Due to the new marijuana law and how it was first legal in colorado made people from around the states move to colorado which increased the population and which increased the rent cost.

Canada, is well known for being immigration friendly over the course of history and it is an ideology that Canadians value. Immigration offers an opportunity for Canadians to seal in crevasses within the Canadian economy and stabilizes it from leaks which causes inflations and recessions. However, as opportunity presents itself, trade-offs are likely to follow. Today, Canadians are facing challenges regarding unemployment rates as well as increases in the cost of living. According to Collacott Martin, a senior at Fraser Institute who represented Canada in the department of external affairs, the housing prices are rising due to an increase in population among large cities in Canada. Collacott, predicted that newcomers of Canada cost between

Canada 's housing market is at an all-time high, they are known in Vancouver for having the most expensive housing market. This expensive market is not just a Vancouver problem, it is an issue growing throughout the nation and is depriving the average citizen to be able to purchase a house in their lifetime. There is a major issue with the state of the market and how it affects the current citizens. Issues have been rising where the average wage in Vancouver is estimated at seventy-one thousand per family household, according to the Vancouver Sun (2014), yet the average costing home as reached between five hundred thousand in the municipality to over one million within Vancouver, according to articles by Beth Lindsay (2015) of the Vancouver Sun, and Troy Landereville (2015) of The Maple Ridge Times.

Responsible for the increase in the housing market are foreign buyer’s - purchasing in cash, as well as the provincial government. Thus, the government may implicate laws and regulation in order to stop this increase. Although there are multiple efforts being made by the government, their negative repercussions may be more severe. The implementation of “price caps” by the government will aid in lowering the house market. These price caps will asses the property on the basis of its size and features and will have a “max price” it can be listed for. Likewise, the government may further their efforts by Imposing a speculation tax on people who flip houses within a short period, perhaps within two or four years of purchase. The tax could apply to all homes or be limited to non-principal residences. These possible efforts will lead to the demise of the GTA housing market

Canada’s housing market was one of the best for the recent years, but even with all the concern of household debt home prices will still have risen by 5.5 per cent in 2016. Their House prices have nearly doubled in the past decade to keep up with the costs of oil. They continue to have troubles selling houses but continue to build more, as well as condominiums and apartments. Their “New Government” continues to watch housing closely

Based on a survey done by Mercer, a company who uses analytics and insights to make a difference in the lives of the public, as of 2016 Vancouver is the most expensive city to live in Canada, followed by

There is a lot of discrimination and wide separation of those owning housing and those who are homeless to try and get housing. The article states, “The supply of affordable housing has not kept pace with the needs of the population. There has also been a decline in the amount of affordable rental housing in many cities. Combine that with declining incomes and a widespread reduction in social benefits for low-income Canadians, and you get a population that has to spend a greater percentage of its income on housing.” This is a huge imbalance of those owning the house and having the money to own versus those renting the

Why has the price of canada housing increased all time high over the years? this year?

Two economic factors affect supply in a stable housing market, price of related goods or similar houses, and the price of the good, best represented by style or size in the case of the housing market. The affluence of a community typically determines how much homes sell for in those communities, and therefore communities where a lot of people want to live become areas where average home prices are high. (Kumar, 1) There is little space in these affluent communities, and therefore little supply. A good example is New York City, where no homes are available, only apartment buildings, and very few apartments are actively exchanged each year.

Many neighborhoods in America are composed of people predominately of the same social class and race. When there is an increase of middle-class or wealthier people moving into deteriorating areas, it often creates a process of renewal and rebuilding that displaces the poorer residents. This is called gentrification. When someone moves into a house and increases the curbside appeal it makes the neighborhood more desirable. In turn, it raises the overall cost of real estate within the community, which author Daniel Hertz argues it results in “people can't move to the neighborhoods to which they'd like to move, and are stuck in places with worse schools, more crime, and inferior access to jobs and amenities like grocery stores”. Hertz’s insight on gentrification is that people who are more financially secure benefits from the improvement and raised value of a neighborhood while those who are struggling are increasingly limited in the options they have to move into safer and connected neighborhoods.

The housing market in Denver, Colorado starting taking its toll back in 2013 when Realtors were already predicting to have a big year after attempting to rebound after the market crashed the previous year. In 2011, the average real-estate sales dropped below $260,000 comparing back to 2009 where houses dropped down to $242,000. This year alone, the Denver housing market reached a record setting year, which there are more years to come, with the average residential home sales of over $350,000 (Aegerter). The real estate has really become more of a benefit to previous home-owners with families receiving profits from selling their homes, which the money gives the family enough for them to re-locate to another metro area and possibly find an affordable

Many people grow up in families where they are told that homeownership is an important asset one should strive for. For the past year my sister and her husband have been trying to purchase their own home in the GTA, but it came to no surprise they struggled to find an affordable home. “Prices have ticked up every year since 1998 (with one exception: in the 2008 recession, they dropped briefly and only barely)” (National Post). Throughout the last couple years housing prices in Canada continue to rise, with the highest house prices found on the west coast in Vancouver, British Columbia. This report will mainly focus on the booming real estate markets in Vancouver and Toronto, exploring the existing problems and solutions.In 2015 and 2016, house

In this report, the question “How much of the changes in the median selling price of homes in a city can be explained by the changes in median income of that city?” is answered. Home ownership is an important aspect of one’s life stages, and home prices are determined by demand and supply. The demand curve is affected by the one’s income, such that as one’s income increases, one is more willing to pay a higher price for the same quantity of goods (Baye & Prince, 2014). However, there are many other factors that might affect the demand curve, e.g. no. of children, in the household, the perceived quality of education in the school district, or the number of job positions (filled or open) around the city. According to Burda

A difficult characteristic to understand about the housing market is how a price is given for a particular house. That price will be designated to that particular house alone. All houses have various pricing, so I can’t always assume that one will cost more or less than any other. The pricing for houses vary based on their characteristics. Each characteristic must be analyzed to determine its contribution or detraction toward the price. I have taken some of these characteristics and modeled the relationship between them and the price of real estate for a specific area.

After researching the foreign markets, our department proposes that Canada would be our direction to go with to expand our business. The selection that we made is due to many factors. One of the factors involved is that Canada’s housing starts for 2012 is down by only percentage points. (Centre for the Study of Living Standards, 2012) This allows us to believe that the economy is still strong in the Canadian foreign market. There is new construction going on in Canada and there is potential for the market to go back up.