Real Estate Archives

Real estate warning: beware the backward cap

NEW YORK, April 5 (Reuters Breakingviews) – In baseball, when fans turn their caps backwards or inside out it’s a kind of prayer that their team can turn its fortunes around. The commercial real estate industry has a different kind of backward cap – one that’s also a sign of a losing streak.

Anxiety over U.S. commercial property has been heightened by the collapse of two banks, one of which – Signature Bank – was an active real estate lender. Building-related debt has been the cause of crises before. Lehman Brothers’ purchase of apartment company Archstone in 2007 was one

Real Estate

Housing market disaster brewing according to ‘Big Short’ investor

An aerial view shows a flooded neighborhood in the unincorporated community of Pajaro in Watsonville, California, on March 11, 2023.

Josh Edelson | Afp | Getty Images

More than a decade after a U.S. mortgage meltdown threatened to destroy the international financial system, a “Big Short” investor once again sees financial disaster brewing in the real estate market.

Dave Burt, CEO of investment research firm DeltaTerra Capital which aims to help clients manage climate risk, was one of the few skeptics who recognized the housing market was on the brink of collapse in 2007.

He helped two of the protagonists

Real Estate

RBC Capital Markets team enjoys strong sales in commercial real estate sector

Published Apr 05, 2023 • 3 minute read

RBC Capital Markets Real Estate Group team Jason Cottle and Tosh Findlay have been retained to arrange the same of the Market at Quarry Park. Photo by Courtesy, Remington Development Corp. /Postmedia Network

Despite many concerns about commercial real estate — particularly in the downtown — Jason Cottle, managing director of RBC Capital Markets Real Estate Group, says as Alberta experiences unparalleled levels of net migration, retail sales, rental growth and property appreciation is experiencing a lively interest among buyers.

Real Estate

Cost concessions needed to build enough houses to meet B.C. demand, say real estate groups

Real estate companies say cost concessions will need to be made if they are to do everything they can, as quickly as they can, to help alleviate the province’s housing crisis.

More than 1,200 people, including developers, building owners and investors attended the Vancouver Real Estate Forum on Wednesday. Topics of discussion included rising construction and labour costs, post-pandemic building-use trends, and how to prepare for an influx of housing demand propelled by immigration.

“Development groups like ours are actually very good at designing properties to meet the needs of the people that are looking for accommodation,” David Podmore, president

Real Estate

Can high-rise farms save Calgary’s office real estate sector?

Agriplay’s futuristic farm takes over the second floor of Aspen Properties’ Calgary Tower Centre.Agriplay Ventures/Handout

In downtown Calgary, where owners of office buildings must contend with North America’s highest vacancy rate – according to CBRE, one of every three offices is empty – a local landlord has welcomed a tenant with a growing business: indoor farming.

Aspen Properties has rented out three floors of an office building at its Calgary Tower Centre to vertical indoor farming startup Agriplay Ventures Inc.

So far, one of those floors has been outfitted with Agriplay’s custom, modular growth system, which, by mid-April, should

Real Estate

Canada real estate: Where are home prices below the national average?

Home prices have fallen below the national average in 14-out-of-20 regional housing markets, according to a report by Zoocasa.

In a release on Thursday, the real estate brokerage said it analyzed 20 housing regions across Canada and found 14 markets where the average home prices fell by more than $25,000.

Saint John, N.B., took the top place for the most affordable region, with an average home price of $268,400.

The next most affordable city to buy a home in is Regina ($310,200), followed by Quebec CMA (census metropolitan area, $315,300.)

Earlier this month, the Canadian Real Estate Association reported the

Real Estate

Vaughan townhouse takes in 11 bids

61 Marc Santi Blvd., Vaughan, Ont.

Asking price: $1,188,000 (February, 2023)

Selling price: $1,370,000 (February, 2023)

Previous selling prices: $1,210,000 (April, 2021); $670,000 (October, 2012); $401,538 (March, 2008)

Taxes: $5,191 (2022)

Days on the market: 10

Listing agents: Vadim and Esther Vilensky, Re/Max Realtron Vadim Vilensky Realty

The action

The principal room has double ceilings that open to a recreation area on the second floor.Handout

This three-bedroom townhouse was listed for $1.188-million in February, presenting buyers with their first shot in months to buy a property near the sought-after amenities at the Joseph and Wolf Lebovic Jewish Community Campus

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