Receiverships, bankruptcies put more distressed properties on the market and the Home of the Week: Canadian real estate news for August 30With developers filing for bankruptcy protection or lenders forcing their projects into receivership, the number of available properties is on the rise.
Canada’s student housing market represents one of the dodgiest aspects of the national housing affordability crisis. In many big cities, postsecondary students tend to find housing in student ghettos and overcrowded condos or poorly maintained rooming houses, paying exploitative rents for bedrooms that turn over at the end of every academic year.
Experts say there’s a huge lack of available student housing compared to demand, which has opened up the market for some interested developers. Montreal-based Utile, a non-profit that develops and operates student rental housing, says they’ve completed four projects with 1,500 units in the past four years, with another 600 units in the pipeline. But they say they still can’t keep up with student demand and have begun to accelerate their growth.all is not well with B.C.
, writes Kerry Gold. It’s routine for developers to complain about regulations getting in the way, but the tenor of complaint is more frantic these days. They say profit margins are shrinking in B.C., and many projects are either stalled or disappearing. Why is housing so expensive? The causes, developers say, involve high construction and material costs, an increasingly demanding building code and mounting fees and regulatory policies coming from all levels of government.
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