Cost of housing in Canada

[Good2Golf]

My gut feel is it will be wider spread than that, but I suppose we shall see, between now and the r/Recession.

 

[IKnowNothing]

My gut feel is it will be wider spread than that, but I suppose we shall see, between now and the r/Recession.

It may well ending up being. But the math says that it shouldn't be if people in the 2nd/3rd/4th bands of risk/tightness make lifestyle adjustments and financial decisions accordingly

 

[Good2Golf]

It may well ending up being. But the math says that it shouldn't be if people in the 2nd/3rd/4th bands of risk/tightness make lifestyle adjustments and financial decisions accordingly

You know we’re talking about Canada, right?

 

[Halifax Tar]

It may well ending up being. But the math says that it shouldn't be if people in the 2nd/3rd/4th bands of risk/tightness make lifestyle adjustments and financial decisions accordingly

I hope you're right, but I have my doubts.

On the plus side, I might be able to afford that cottage in a couple years

 

[mariomike]

Regarding the GTA housing market in the first quarter of 2023,

The average selling price for a single-detached home in the City of Toronto climbed to $1,708,373 in March 2023.

Detached Home Prices Soar in the Greater Toronto Area (GTA) During Q1

Discover the substantial growth in detached home prices during the first quarter of the year in the Greater Toronto Area (GTA). Explore the detailed analysis and trends in the real estate market, as housing prices experience significant upward momentum.

www.zoocasa.com

 

[Furniture]

I suspect this isn't helping matters any...

22 per cent of Canadian homebuilders cancel projects amid high rates despite severe housing shortage

 

[IKnowNothing]

I suspect this isn't helping matters any...

22 per cent of Canadian homebuilders cancel projects amid high rates despite severe housing shortage

Yeah but now theres more land for them to buy as investments and build on later when its more profitable. Now that those dastardly municipalities are out of the way

 

[FSTO]

I mean yeah, people can live in those places.

But as others have said here, if you're new to a country (especially as a non-"Western" person who doesn't really know English or French), you'd probably think that it's easier to go to a place where there are others of your community already established. Easier access to groceries/foodstuffs from home, more chances to speak your native language to others, etc. That becomes even more important if the immigrants are older.

Those happen to (mostly) be in our larger cities.

In southern Manitoba if it wasn’t for the Filipinos our Hog industry and health care system would immediately collapse.

 

[Furniture]

Yeah but now theres more land for them to buy as investments and build on later when its more profitable. Now that those dastardly municipalities are out of the way

Let's not pretend that municipalities aren't a cause of the problem... They aren't the only cause, but they contribute(d) to it.

 

[IKnowNothing]

Let's not pretend that municipalities aren't a cause of the problem... They aren't the only cause, but they contribute(d) to it.

A cause in as much as zoning preferences blocking certain types of needed housing yes, but as a cause of the overall shortage? Doesnt hold up to scrutiny. The tale of noble developers ready to save us once municipalities get the gatekeepers/red tape out of the way is 100% a donor funded manufactured narative, at least as far as Ontario is concered.

80% of of the homes needed to fulfill Ontario's 10 year building plan have full municipal approval today. Ontario has been approving more homes than can be built annually for years.

 

[FSTO]

Further to the idea that no immigrant wants to live anywhere but Toronto. In Regina there is at least 3 Cricket pitches (probably even more because I don't go to the NE of the city much. That are filled with young South Asians having a grand old time. There is a cricket league in the city and its thriving. I'm sure there are similar observations across the country. We could handled the 500k a year if we were better at showing immigrants that there are familiar faces across the country.

 

[Kirkhill]

Equally true of subways, bridges, tunnels, dams, sewer and water systems, etc.

Obviously these things have all become more difficult to build, taking longer and costing a lot (relatively) more. That raises the question of "why". To find the reasons is to find some points at which to effect change.

The Information Age happened.

Brunel and Telford just needed to hire a bunch of geezers with shovels and start digging. Problems were sorted as they occurred and bankrupt projects were bought out by new investors for pennies on the pound.

Now you don't need anywhere near as many geezers. A guy with a backhoe will do you.

But.

Now Brunel and Telford have got multiple inspectors reviewing their work, consultants up the yin yang telling them how to manage the inspectors and backhoe operators needing certification from the local community college. And everybody is convinced that they have that critical bit of information which must be incorporated - otherwise how can they justify themselves.

Grandad justified himself by picking up a shovel.

 

[lenaitch]

A cause in as much as zoning preferences blocking certain types of needed housing yes, but as a cause of the overall shortage? Doesnt hold up to scrutiny. The tale of noble developers ready to save us once municipalities get the gatekeepers/red tape out of the way is 100% a donor funded manufactured narative, at least as far as Ontario is concered.

80% of of the homes needed to fulfill Ontario's 10 year building plan have full municipal approval today. Ontario has been approving more homes than can be built annually for years.

And all of it in either urban areas or the so-called 'whitebelt' (the part of the Oak Ridge Moraine and surrounding land not defined as the Greenbelt).

 

[Remius]

What's Behind the Cost of New Single-Detached Homes? | C.D. Howe Institute | Canada Economy News | Canadian Government Policy

This Graphic Intelligence breaks out the various components of the total cost of new single-detached homes in Canada’s six largest Census Metropolitan Areas (CMAs).

www.cdhowe.org

Some good data here for those of us interested in the cost of housing.

 

[Good2Golf]

What's Behind the Cost of New Single-Detached Homes? | C.D. Howe Institute | Canada Economy News | Canadian Government Policy

This Graphic Intelligence breaks out the various components of the total cost of new single-detached homes in Canada’s six largest Census Metropolitan Areas (CMAs).

www.cdhowe.org

Some good data here for those of us interested in the cost of housing.

Would be interested in greater detail on what comprises the Barriers to Supply. Interesting that Calgary is party to the high barriers cost influence as well, although not to the same magnitude as Vancouver and Toronto.

 

[Kirkhill]

What's Behind the Cost of New Single-Detached Homes? | C.D. Howe Institute | Canada Economy News | Canadian Government Policy

This Graphic Intelligence breaks out the various components of the total cost of new single-detached homes in Canada’s six largest Census Metropolitan Areas (CMAs).

www.cdhowe.org

Some good data here for those of us interested in the cost of housing.

Increased housing supply in cities facing barriers to supply can decrease the cost of housing. Increased housing density is one key tool that governments should consider, for example, to boost housing supply.

I don't like it.....

The key element is the infrastructure issue. If you build a new subdivision or pile on new bodies in an existing subdivision then you are going to have to build new infrastructure. Even if you don't build new homes or add new people then old infrastructure wears out and has to be constantly refreshed.

One way that I think the Feds can really change the game is by actually committing to those infrastructure projects they keep talking about. Politicians balk when they discover that those shovel ready projects and the photo ops are few and far between. That the investment is a never ending draw that manifests itself day in day out with unglamorous expenditures. But those projects keep people employed and making money and paying taxes and keep them happy.

Pet project of mine.

Cogeneration Systems｜Energy Systems｜YANMAR

The introduction of Micro Cogeneration from Yanmar.

www.yanmar.com

Get rid of electrical wires AND reduce hydrocarbon emissions.

Use the natural gas lines to supply heat and power and light. Increase the fuel efficiency, reduce emissions, exploit existing infrastructure and reduce the costs of electrical infrastructure.

Natural gas lines can be converted to Hydrogen lines if the market decrees. Internal combustion generators can be swapped for fuel cells if the market decrees.

Those are areas where the Federal Government could usefully assist in managing costs.

 

[Remius]

Would be interested in greater detail on what comprises the Barriers to Supply. Interesting that Calgary is party to the high barriers cost influence as well, although not to the same magnitude as Vancouver and Toronto.

Zoning, NYMBYism, political issues etc. I suspect every city also has its peculiar issues compounding it (Ottawa has the never ending issue with the NCC as an example)

Calgary is no surprise, they’ve been have issues for some time.

https://www.cbc.ca/news/canada/calgary/calgary-council-affordable-housing-density-nimby-poilievre-1.6869177

This article outlines some issues Calgary has been having and why.

 

[Good2Golf]

Zoning, NYMBYism, political issues etc. I suspect every city also has its peculiar issues compounding it (Ottawa has the never ending issue with the NCC as an example)

Calgary is no surprise, they’ve been have issues for some time.

https://www.cbc.ca/news/canada/calgary/calgary-council-affordable-housing-density-nimby-poilievre-1.6869177

This article outlines some issues Calgary has been having and why.

To be honest, Remius, I was surprised Ottawa wasn’t higher towards Calgary. Then again, maybe things in Bytown aren’t as bad in the big picture, as we think locally. Except for the O-Train….that’s still a hot mess!

 

[Kirkhill]

Why Alberta is driven by natural gas and not by electricity.

Medicine Hat's history.

Early 1883​

Original gas discovery by CPR, near Alderson while drilling for water to supply the steam engines.

1899​

Charles Coulter, a stone mason and builder, drilled a well in his own backyard in an attempt to utilize gas for his own home. After completion of the well, Coulter piped gas into several houses, including a local doctor. This activity led to the development of natural gas in Medicine Hat.

1900​

As the commercial value of the resource began to be understood, a private company made an offer to buy the gas franchise. At a rate payers meeting, this bid was turned down and a decision was made to operate the asset as a public utility. Serving the City well, natural gas brought into the City treasury large amounts of money to spend on other public works and helped to keep the tax rate low.

September 1901​

The town declared for a municipal gas system with the passage of Bylaw #48.

November 1902​

Gas was “turned on” for City gas service. Initially the City Clerk had 130 applications for gas service in the original system.

1902-1907​

The City is active in developing additional wells, a gathering system and expending the gas distribution system. To encourage industrial growth, several wells within the City limits were given to industries including Rolling Mills, Alberta Clay Products, Ogilvie Mills, Maple Leaf Mills and Medicine Hat Brick & Tile.

1915​

The City acquires the mineral rights from the Federal Government to approximately 12 townships surrounding the City. This agreement formed the basis of the present day Medicine Hat Gas Agreement.

1946​

Mineral rights transfer from Federal to Provincial jurisdiction. A formal 21 year gas lease was issued to the City, which has been renewed in 1966, 1987 and 2008.

1964​

The City acquires approximately 54 sections of mineral rights north of Seven Persons and begins development drilling in the early 1970's.

March 1982​

The City acquires Pembina Pipeline properties in this area for $46 Million. This purchase more than doubles the number of producing wells from 250 to 500.

May 1985​

While exploring for deeper gas zones in the NE field, the City discovers Glauc “C” oil pool.

January 1986​

The City acquires the oil and gas assets of the Town of Redcliff, as well as the customer and gas distribution system of the community.

February 1991​

The City acquires the first Saskatchewan property from Buttes Resources and SaskOil in Horsham, Richmound and Fox Valley fields for approximately $90 Million.

January 1999​

The City acquires the Bigstick property and other Saskatchewan assets from Numac Inc. for $35 Million.

January 2000​

City did its first public company take-over with the acquisition of Dundee Petroleum Corporation for approximately $10 Million.

February 2002​

City acquired a larger public company, Allied Oil & Gas Corp, with a purchase valued at approximately $95 Million.

November 2007​

City acquired the Freefight properties from Pengrowth Corporation for $135 Million. Subsequent to this transaction, the acquisition of the Talisman owned Compression and gathering system in this field was accomplished in April, 2009.

January 2012​

City acquired the Manyberries oil assets from Chinook Energy Inc. and WGOH Limited Partnership for $48.6 million.

Gas

Medicine Hat owns and operates a natural gas utility, supplying gas to homes, businesses, industry and facilities.

www.medicinehat.ca

 

[Furniture]

Zoning, NYMBYism, political issues etc. I suspect every city also has its peculiar issues compounding it (Ottawa has the never ending issue with the NCC as an example)

Calgary is no surprise, they’ve been have issues for some time.

https://www.cbc.ca/news/canada/calgary/calgary-council-affordable-housing-density-nimby-poilievre-1.6869177

This article outlines some issues Calgary has been having and why.

That's unpossible, it's just greedy developers that are to blame... or so it's been said by others in this thread when zoning, and NIMBYism comes up.