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Affordable housing in Victoria


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#2321 Klapecki

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Posted 25 April 2021 - 09:00 AM

Key note from that costing is that it comes from non profit builders (I’m picturing Habitat for Humanity?). As far as I know, no large scale social housing projects are being built by nonprofits, or if they are, they are hiring commercial contractors for the work.

As an aside, we just completed a 500 sq garden suite and with modest finish the cost came in close to 200k once all costs were included. And we aren’t getting rich off this.

Fwiw, the article Juno shared estimates construction costs at $320/SF and $365/SF for wood frame and concrete, respectively. This includes the soft costs, about 30% of the total


Edited by Klapecki, 25 April 2021 - 09:00 AM.


#2322 Mike K.

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Posted 25 April 2021 - 09:15 AM

Entry-level townhomes on the West Shore are coming in close to $400 right now, not including land or soft costs. This means you have to sell north of $650k for a ~1,300 sq ft unit just to break even at $70k/door, and relatively lightning fast approvals compared to the City of Victoria.

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#2323 sebberry

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Posted 25 April 2021 - 12:19 PM

Entry-level townhomes on the West Shore are coming in close to $400 right now, not including land or soft costs. This means you have to sell north of $650k for a ~1,300 sq ft unit just to break even at $70k/door, and relatively lightning fast approvals compared to the City of Victoria.

 

It's frustrating.  We should have been pushing for more of these 10, 20 years ago.  I'm outgrowing the functionality of a condo, but no where near close to being able to afford a townhouse.  Something like this would suit me perfectly for the next 20 years.  https://www.realtor....ia-central-park


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#2324 Klapecki

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Posted 25 April 2021 - 01:19 PM

Townhouses are where it’s at I think. Looked at a near new 2bd for 600k and it was 850 sq. Older updates townhouse same price but 1700 sq.... no brainer for me

#2325 Victoria Watcher

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Posted 25 April 2021 - 01:29 PM

Something like this would suit me perfectly for the next 20 years.  https://www.realtor....ia-central-park

 

there are some less glamourous versions of those in james bay (covered, not garage parking).  might suit you as you get older too.


Edited by Victoria Watcher, 25 April 2021 - 01:29 PM.


#2326 Barrrister

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Posted 25 April 2021 - 01:38 PM

Wedgewood estates has some really nice townhouses and a great rec center.


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#2327 Kapten Kapsell

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Posted 28 April 2021 - 01:26 PM

It's frustrating.  We should have been pushing for more of these 10, 20 years ago.  I'm outgrowing the functionality of a condo, but no where near close to being able to afford a townhouse.  Something like this would suit me perfectly for the next 20 years.  https://www.realtor....ia-central-park

This new listing might be of interest, though the strata fee is on the high side:  https://www.realtor....ia-central-park


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#2328 sebberry

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Posted 28 April 2021 - 01:36 PM

This new listing might be of interest, though the strata fee is on the high side:  https://www.realtor....ia-central-park

 

That's a nice place but I'd need to double my income to afford that...


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#2329 Nparker

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Posted 28 April 2021 - 01:38 PM

That's a nice place but I'd need to double my income to afford that...

And the neighbourhood is kind of sketchy.  ;)


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#2330 Victoria Watcher

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Posted 13 July 2021 - 12:46 PM

If the housing crisis were a story of David and Goliath, the CMHC would be shining Goliath’s shoes with David’s rags, leaving him naked on the battlefield. At best, the organization is a textbook example of the deleterious effects of government intervention in the economy. At worst, it seems like a big scam meant to funnel more money to those who already have it.

 

We have a housing system where gains are privatized, but risks are socialized; where “have nots” find themselves guaranteeing the mortgages of the “haves.” If there was ever any doubt, the last year made it abundantly clear the CMHC’s market meddling isn’t only excessive, but actively harmful. It’s time to disband the CMHC.

 

 

 

https://nationalpost...canadas-economy


Edited by Victoria Watcher, 13 July 2021 - 12:47 PM.


#2331 Mike K.

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Posted 13 July 2021 - 01:10 PM

The stress test is a dismal failure, so they stepped it up a notch and eroded 5% affordability overnight in June.

 

The amortization period reduction from 40 years to 35-years is an exclusionary measure that harms people working towards entering the market in desirable locations. Most mortgages now are now at 25 in lieu of 30-years that we had easier access to before the Liberals took power.

 

The first-time buyer program where the feds share equity to the tune of 5 or 10% is so laden with landmines and so restrictive, that I still haven't met a person who has tapped into it. Have you?

 

Every measure this government has taken to improve housing access and affordability has eroded access and affordability.


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#2332 Victoria Watcher

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Posted 13 July 2021 - 01:15 PM

it's almost like the government tampering in a free economy does not work.

 

or even has the opposite effect.


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#2333 Mike K.

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Posted 13 July 2021 - 01:16 PM

And they also ditched the stated income program for self-employed people.

 

Every single measure has made it harder.


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#2334 Victoria Watcher

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Posted 13 July 2021 - 01:17 PM

(that's what she said)



#2335 sebberry

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Posted 23 July 2021 - 12:01 PM

jl.JPG

 

 

2jl.JPG


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#2336 sebberry

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Posted 23 July 2021 - 12:03 PM

Guess he doesn't want to hear from anyone other than his supporters...

 

jl3.JPG


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#2337 Victoria Watcher

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Posted 23 July 2021 - 12:03 PM

the motion is to write two letters?

#2338 Nparker

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Posted 23 July 2021 - 12:10 PM

Just another clumsy attempt to manipulate the housing market by a government body. 


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#2339 Victoria Watcher

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Posted 23 July 2021 - 12:11 PM

saving old outdated rentals is not the way forward.

Allowing the owner to build 9 or 12 floors on the same footprint might be.

Edited by Victoria Watcher, 23 July 2021 - 12:12 PM.

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#2340 Rob Randall

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Posted 23 July 2021 - 12:27 PM

^That doesn't help current renters. There are a lot of people paying sub $1000 rents right now in older buildings. That's the idea, that you preserve the old, cheap stock.


“I mean I just don’t understand the big Texas part, like maybe he’s from Texas? I want to know the back story.”


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