According to the Calgary Herald, Vancouver and Calgary led the housing boom in Canada in September 2013. While this trend can be attributed to various factors, it is said that the sudden increase in demand for construction, due to heavy flooding, may be the biggest contributing factor. Under normal circumstances, however, the housing market can only improve if certain things happen over a prolonged period.
First, a steady population growth has to be observed given that it can have a huge impact on the demand for brand-new houses. The exact opposite can be a bad thing since a decline in population also entails a decline in home buyers and, consequently, consumer demand. In any case, population growth has to be supported by sizable employment opportunities to ensure that families can afford to pay for their housing needs and daily expenses.
Education and employment help create pleasant and vibrant neighborhoods since crime rates tend to go down once more people have legitimate, paying jobs. In turn, such an atmosphere allows businesses and schools to thrive, thereby enticing people from other cities to move in. This influx of buyers is usually what real estate companies look for before they can tell whether or not the real estate market is indeed improving.
First, a steady population growth has to be observed given that it can have a huge impact on the demand for brand-new houses. The exact opposite can be a bad thing since a decline in population also entails a decline in home buyers and, consequently, consumer demand. In any case, population growth has to be supported by sizable employment opportunities to ensure that families can afford to pay for their housing needs and daily expenses.
Education and employment help create pleasant and vibrant neighborhoods since crime rates tend to go down once more people have legitimate, paying jobs. In turn, such an atmosphere allows businesses and schools to thrive, thereby enticing people from other cities to move in. This influx of buyers is usually what real estate companies look for before they can tell whether or not the real estate market is indeed improving.
RSS Feed