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1208WNPG
The new cost of owning a home Big drop seen in new apartments
THERE`S been a dramatic drop-off in the number of new apartments being built in the city this year, and developers are blaming it on rent controls and high construction costs.
New Canada Mortgage and Housing Corp. figures issued Monday show Winnipeg will likely finish the year with only 319 new apartment starts. That`s a far cry from the 800 started in 2007 and the 600 in 2006. And it comes at a time when the city-wide apartment vacancy rate is hovering at a mere 1.1 per cent. Jeff Powell, CMHC`s senior market analyst for Manitoba, said with vacancy rates this low, he expected to see lots of new apartments being built again this year.
http://www.winnipegfreepress.com/business/35787914.html
The new cost of owning a home Big drop seen in new apartments
THERE`S been a dramatic drop-off in the number of new apartments being built in the city this year, and developers are blaming it on rent controls and high construction costs.
New Canada Mortgage and Housing Corp. figures issued Monday show Winnipeg will likely finish the year with only 319 new apartment starts. That`s a far cry from the 800 started in 2007 and the 600 in 2006. And it comes at a time when the city-wide apartment vacancy rate is hovering at a mere 1.1 per cent. Jeff Powell, CMHC`s senior market analyst for Manitoba, said with vacancy rates this low, he expected to see lots of new apartments being built again this year.
http://www.winnipegfreepress.com/business/35787914.html