I haven’t used beads since I was a kid and

gas use/travel is actually down in the US, as are SUV sales and small cars are less. Real estate sales are way down, reasonable to live at home or with room mates a bit longer. Especially with prices falling!

And gas prices are way down, oil is under $110 a barrel, $40 off from high recently.

This is Janzen, the guy in charge of SRAR who said that.

Janzen, just has to read this blog, cause it seems his information is from the same source the States had in 06 and 07.

on par with 2003 etc? What so you mean my rent will be back at $500 bucks or less? Housing will be what…$150 grand or less? Sometimes I think people have no idea how far it’s out of whack. Though it is the media so it’s not a suprise…

“We’re more on par with 2003, 2004, 2005 – so we’re indicating a return to a more normal, stable environment,”

What is on par? prices? no, listings? no, housing starts? no, sales? actually less.

First time buyers are mostly priced out and trade up buyers are not really trading up. Immigration has slowed. Housing starts NEED to be slashed so inventory does not keep climbing. But with the way things are going, it will be good for renters in a short while.

This is not a normal market. It is not a sellers market because very few homes are selling. It is not a buyers market because prices are way too high.

I just wonder how many people outside the province look up the CMHC data as their basis for moving out here. When I was in Calgary this summer, my girlfriend and I were in a store where the Clerk, an east indian gentleman was quite chatty, asked where we were from and then when we said Saskatoon, he perked up, saying he’s heard GREAT THINGS about it! He then asked how much rent was out here as well as what jobs start at. His expression DROPPED when we told him rent for a 1 bedroom apartment, a 2 bedroom apartment, and then income levels for different kinds of jobs. Needless to say, he said he’s staying in Calgary. At least he asked though instead of being blindsided…

Still haven’t gotten my coffee….heh.

Thanks for the rental info. Ouch!

Jedi,

Johnson Canyon is beautiful. It was one of the few places that we hit last year when we were returning from our trip to the island so it didn’t make the list this year.

Our office has relocated to 620 Heritage Lane (between Heritage and Taylor), effective August 1. We love the new office space but we’ve decided to stay in our home, at least for now. Improvements to Circle Drive allow for an 11 minute trek which really isn’t that bad.

Thanks for your input on the weekly reports.

jrochest,

I didn’t make the CBC deal. First real day back at work yesterday kept me going fairly late and I just didn’t have the jam today.

Jesse G,

That is funny. Their website seems a tad bit dated (20% of income). Uh-huh.

From today’s Star Phoenix. “Summer sees drop in average house price.” Front page teaser read “Average price of Saskatoon home tumbles.”

http://tinyurl.com/69trsr

He also stated that he doesn’t expect prices to drop and that the 1400 units should solve the problems.

Still love how thier website is so outdated…I mean who would want to state the nightmare on thier site…that wouldn’t draw ANYONE to the city… Check it out if you want a laugh.

http://cmhc.ca/en/co/buho/seca/sa/sa_002.cfm

I need coffee..

At which point they told me they were going condo, and offered me the place for 329K.

And I told them, with my characteristic old-world courtesy, into which bodily orifice they could insert their asking price.

CBC is doing the broadcast from a Habitat for Humanity construction site, but it’s actually on housing. The promo I heard today was a little more balanced-sounding: a discussion of ‘the volatile and changing housing market…’.

So yes, Norm, if they’re asking you to comment, do it.

*****

s’s post is WONDERFUL — nice to see someone else does this. I count listings by slice every Thursday AM, but I’ve only done it for the last 18 months. And I don’t keep track. One thing I’ve notice in the last month or so is that there are more than 500 properties in the 300-400K slice. And the plus 400K set a) has grown like topsy and b) barely changes at all. There’s a fairly brisk & lively turnover in SFH’s in the 100-200K slot, and there’s reasonable change in the 200-300K houses. But the properties in the 400K slice don’t budge.

There seems to be a point of resistance here.

“Renting without a sign” — I’m not sure that’s too hard, these days. I”m sure that that’s the case for many of the small places in VV & Nutana; they’re all mostly tenanted anyway.

God, I’m lucky in my landlords — I’ve moved back into a house I rented when I first came to Saskatoon, because I know and trust the landlords and because I love the house –which was pretty pricey when I first moved here but is now just right.

I’m probably the only tenant whose landlords WON’T raise the rent unless they have real, nasty price increases in heating/running costs. But I’ve been chased out of the past three places I rented by rent increases & condo conversions, so I feel everyone’s pain.

One thing I’m noticing, though, is that Kijiji has a great many more reasonably priced ads: the basements are going for 750, not 1,000, and there’s loads and loads and loads of people looking for roommates. And the number of places that are trying to rent out something they’re trying to sell are growing.

My fave? A 2 bed condo in Lakeview, listed for 219K that’s being rented for 975 a month (about half of the prospective mtg payment). The best part is that the ad mentions the fact that the place is listed but (the seller laments) notes that there has been NO INTEREST AT ALL FOR 4 MONTHS — not one offer, almost no viewings. I assume this is going to make the tenant feel safe — but of course, they’re safe as houses.

The cream of the joke? There’s an identical unit in the same building, on the same freakin’ corner, that’s two floors lower, listed for 159K. 50K difference? I don’t think Mr. 219K’s tenants will have to worry.

Anyway — I’m starting to dribble (beer #2) — but I think the rental market is starting to loosen just a teeny weeny tad. I hope, for all our sakes, that this is true.

Did you make it to Johnston Canyon? One of my faves in that area.

Re: your format. I have very much enjoyed and appreciate the info you have shared in the the year and a half I have been reading. It is my hope you keep the same format, and if anything add to it. I have read some of the other blogs (Ed and Calgary mostly), and while I greatly appreciate the info given I have yet to find something that breaks things down as clearly as you have. Please keep the breakdown of the listings and prices by area, as well as the total prices. If there are catergories to add by even better.

Also, there are some keen number crunchers on this blog. Maybe you could delegate or someone could volunteer to lighten the load as real estate is anything but a 9-5 job.

However you proceed, thanks for all the effort put in and thanks also to the bloggers for the comments.

PS, is your office on Taylor and if so how is your new home??

You are completely right. Even when i searched for a decent place last July when my rent was at $530 a month, I lucked out on the place I got…No holes in the walls, NOT 800 bucks, NOT in stabsville…it was BY FAR the pick of the litter. Nothing in the city could compare to the place I got. 618 sq ft.

I don’t like the attitude that is around here anymore either. I remember the big question used to be ‘so when you getting married?!’ from people…now it’s turned to “so when are you getting into a house?!”. Like it’s some kind of measuring stick for adulthood or respect. Newsflash it isn’t.

Sorry went into a bit of a rant.

July07-Dec07 – $530 for my 1 bedroom 1960′s apart.

Jan08 – $650

Jul08 – $750

Oct08 – $850

It’s not as bad as some others, but is still insane. Insane for nothing being done besides carpet, paint in the corridor and handrails.

I will expect another 100 or so bucks for January…

I assume Jesse’s building is like most everywhere else in the city where rent increases are now demanded every three months. It’s kind of depressing as you just sign on for the one increase to keep your place and then a month later you get a notice that in two months time your rent will be going up again to “more closely reflect the market conditions.” Should the market tank I wouldn’t anticipate them lowering rents at the same absurd pace.

Quite franky, like some others on the forum I am finding it harder and harder to care about what happens in this city anymore. It’s become a very ugly place to live for those renting as well for inviduals who were unable to buy pre-boom.

Apparently DeNial is only a river in Egypt and Saskatoon.

Personally, more a fan of E Town (edmonton) reminds me of Saskatoon, high end jobs, pays Way more than Toon town (so I guess moderate amount more than Regina) and actually rent is cheaper.

And U of A is a better school than U of R and U of S combined!

They just upped it to $250 per pet! NoN-RefundablE!

Funny, there seems to be just as much dog s#it on the lawn as before!

They know the low end market is tight and people with pets are vulnerable. Tsk, tsk. And all the profit goes straight back to Calgary! (well, almost)

Joy to the world!!

In fairness there are some horrible pet owners (my neighbour is one).

Thanks.

Things are going to change, sooner rather than later.

Here’s an encouraging word for you and posted by George in another thread.

http://www.canada.com/vancouversun/features/usaid/story.html?id=560c333a-a888-4d19-aa14-d4b5108c208f

Apartment in Regina. Currently $850 for 860sq/ft 2 bedroom suite in apartment city across from the U of R. Mostly 60′s decor – the dreaded b-walk.

Going up to $925. They’re renting for $1,000 right now; so it’ll go up to that (at least).

We took a look around and there is crap availible. Our b-walk suite never looked so good actually. Seems to be a fair amount of houses for rent; but usually for much more than $1,000 (unless crap).

I’m tryin to build up a down payment, but it feels like all I do is feed the b-wolf!

Hate to come across as whiny – it just bothers me that first time buyers are getting hammered so bad in this here “boom”. I don’t think it’s good for the province.

My sister-in-law was recently out and guestimated that this place would go for $1,300 in “Vancouver” (they live in Richmond now; but have lived all over the GVA, so not sure in what area she was referring to – I’m thinking average).

Think living in Vancouver is worth $300 more a month? Might be once the snow flies!

amen brotha. there has to be SOMETHING to keep people here…though haven’t found it yet…just for commute times isn’t nearly a good enough reason to put this above other places in my opinion…ESP for young people.

ps. my rents also going up again….ugh

That’s funny. Will be interesting to see what happens with the agent population.

eff_that,

You in a house or an apartment?

The people of Saskatchewan want to retain young people in the province; but they also want to take them to the cleaners on housing.

If it takes 2 years for the market to straighten out… i’ll be long gone. I’ll head west for greener pastures like my brothers before me. Neither of them have come back. Good luck running a society with a huge bulge of old foggies and a shortage of educated, young, productive people.

Half of Saskatoon’s real estate agents should get jobs in construction. Construction workers are still needed. Or get a job at Cameco. This will help our economy grow, and maybe in a few decades time, our economy will actually justify current prices!

If nothing else, tough to feel sorry for fly by night agents – they should fill the many vacant jobs that our economy needs!

I’m sure Norm has the mad skills to sell the few houses that actually sell here each week.

if people rush to get in under the wire so they can be stretched to the max for over 40 years, they are seeking financial armageddon. If these same people could not afford a place in 06, they should not buy until at least 2010. They will save hundreds of thousands of dollars over the years.

Crikey,

you are correct, everyone is the master of their own destiny. In this day and age, people should take more responsibility for their own actions. But the problem with RE in the last few years throughout the world is that many people bought because of fear and greed. The fear was put towards the bottom of that pyramid and the greed came from the top of it.

People have been bombarded by media, billboards, realtor signs, building construction, people talking at coffee row, coworkers talking at work etc about real estate going up. It is almost as though people were brainwashed into buying, it is hard to blame some of them.

For the people like you, who knew something was funny and did the proper research, good for you that you did not drink the kool-aid.