The City 's Housing Market

Newark is the most populous city in the state of New Jersey, and one of the nation’s largest shipping hubs. It is the sixty-seventh most populous city in the country and has just over two hundred seventy-five thousand residents. This makes it the second most populated city in the New York metropolitan region, after New York City. It is the largest port on the Eastern Seaboard, location of several corporate headquarters, and several universities. It is a diverse city, made up of five wards containing many neighborhoods that vary greatly, from urban business and industrial districts, to quiet near-rural areas on the outskirts of the city.

The housing crisis of the late 2000s rocked the economy and changed the landscape of the real estate business for years to come. Decades of people purchasing houses unfordable houses and properties with lenient loans policies led to a collective housing bubble. When the banking system faltered and the economy wilted, interest rates were raised, mortgages increased, and people lost their jobs amidst the chaos. This all culminated in tens of thousands of American losing their houses to foreclosures and short sales, as they could no longer afford the mortgage payments on their homes. The United States entered a recession and homeownership no longer appeared to be a feasible goal as many questioned whether the country could continue to support a middle-class. Former home owners became renters and in some cases homeless as the American Dream was delayed with no foreseeable return. While the future of the economy looked bleak, conditions gradually improved. American citizens regained their jobs, the United States government bailed out the banking industry, and regulations were put in place to deter such events as the mortgage crash from ever taking place again. The path to homeowner ship has been forever altered, as loans in general are now more difficult to acquire and can be accompanied by a substantial down payment.

South Parkdale is looked at to be one of the most gentrifying areas within Toronto. Many people are wanting to live closer to the inner city becoming more attractive to those with money to make housing choice’s in the downtown core (Slater, 2003). They have taken advantage of the rush of real estate forcing a lot of people to be displaced. Queen’s Hotel in South Parkdale has caused a lot of gentrification driven displacement pushing property value up within Parkdale (Truong, 2013). Many long-time

Apex NC is the small town to keep your eye on in the next few years. In the summer of 2016, Money Magazine honored the Town of Apex by giving the town the distinct honor of being the #1 Best Places to Live. Notably, Money Magazine highlighted the benefits of Apex’s close proximity to the Research Triangle Park, which allows residents to secure high-tech jobs that are high-pay. Apex’s commitment to forging a family-friendly community, overflowing with amiable residents has paid off, and it will affect their real estate market.

Many large cities are experiencing skyrocketing rental/housing price because of the excessive demand and more importantly, the scarcity of land. San Francisco, as one of the most important financial centers in the world, is facing a serious dilemma due to its inflated rental/housing prices; people’s dissatisfaction over the government grow as they are excluded from the access to proper housing. San Francisco has the highest rents of any large city in the United States, which makes people, especially from low and medium income group, hard to acquire housing near their workplaces and force to commute from other regions of Bay area into the city. In other words, the high housing prices are pushing people as well as the productive industry out of the city. While people are accusing the government of being responsible for the failure of housing since it underestimates the rate of population growth, which leads to a shortage in the housing market. However, statistic shows that San Francisco actually built more than 30 percent more housing units per capita than New York City and Los Angeles in 2014. (Henry Grabar, 2015) It is because such shortage is artificially created by the policy makers to constraint land use, hence, increasing the supply of housing does not efficiently decrease the housing. The fundamental cause of this imbalanced housing market is the poor allocation of land use.

The article from New York time, " Houston's Unsinkable Housing Market Undaunted by Storm" by George Etheredge, talk about Houston's housing market growth. George said " the Houston metropolitan area grows by about 400 people a day and builds 40,000 housing units a year, making it nation's largest new housing market, with 7 percent of residential construction". According to article people are tent to move into Houston because it has kept the housing prices low by building a property everywhere and anywhere in short period of time. If we look at the national housing market, our country is divide between high cost places like Bay Area and New York and higher Unemployment area like Detroit, so place like Houston is the best place for middle class

Although there is a deficit in the number of homes available to buy in Toronto using the land near schools is not an option to develop new condo projects. Some people feel that there will not enough seas for new students, the shadow from the new buildings around schools will ruin the school play grounds, and the traffic of cars in the area will be a risk for students. The Mayor must stop large developments near schools in Toronto.

Toronto was named the best place to live in 2015, and consider the wide variety activities one can partake in and the general safety of Toronto, it is no surprise that somewhere like this would achieve such an accomplishment (Hall). This beautiful city is composed of people from all corners of the world and maintains a certain hospitality that helps Torontonians preserve their incredible reputation of friendliness. According to an economist post, all of these advancements have given Toronto the title of the greatest place to live in. This title is a great honor, which the city let alone the country should hold with pride and modesty. However, for decades there has been and continues to be an unsolved problem, which is continuing to grow without

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 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

A majority of Canadians understand that prices have increased in many cities since the topic has been dominating media headlines. However, most do not exactly know the extent of how high and fast prices have climbed. From March 2016 to September 2017 the average price for a single-detached and semi-detached dwelling increased tremendously across the country. Victoria, BC surprisingly saw a 106% increase from $599,026 to $1,233,841. Within the same time of 18 months, Sudbury saw a 57% increase from $391,528 to $613,511. In addition, Vancouver increased by 49% and topped at $3,085,422 making them the most expensive place to live in the country. Kelowna, increased by 39%, Windsor 11%, and Toronto slightly at 5%. Toronto's housing market actually slowed down for this 18-month time frame, however, from earlier exponential increases the average price peaked at a record $1,851,256 (CMHC, 2017, p.150). Although much smaller increases, this is still considered extreme for how high the prices already were and since this occurred in only 18 months. Between 1994 the average cost of a house in Vancouver was $305,519 and by 2004 was $365,111. That is only a 19.5% increase but over a ten

Residents in this census mainly live in apartments in building with five or more storeys, which take up 95.7% of total private housings. The housing price is not that “affordable” in this census tract, because a significant percentage of population spends more than 30% or more income on shelter. However, with build in storeys for commercial purpose in the apartment buildings, residents live in this census tract can easily access to grocery stores for basic life needs within five minutes walk. This census tract is one of the central commercial spine in Vancouver.

Toronto now is a divided city (Toronto Vital Signs, 2015). It can be divided into three areas based on individuals’ incomes. City 1 is where the neighborhoods’ average individual income increased

In the past research, I found that Orland Park is a great place to live. It has a nice neighborhood, great schools, and great houses. Recently, I began doing research to find out more information on the housing market in Orland. Before I researched the housing market, I was almost certain that Orland would do extremely well in the housing market. I was thinking that they would have a lot of apartments for rent and many houses for sale. In addition, I figured they would be selling extremely well. However, after I did my research, that was not the case at all.

Every year, thousands of people decide to purchase a home in Toronto. The booming economy attracts many people to the city. Toronto has several major league teams, and the city has a thriving performing arts community.