ICYMI: Paulson: War in Ukraine adds perspective to local housing challenges
It was intended to be a comparison, largely, of the rental markets in Saskatoon and other Canadian cities. A bit of a rah-rah piece, really, since Saskatoon stacks up very well.
And poring over endless statistics, I was reminded of how imperfect our — indeed, every — housing market is, but also how the homes and apartments of our generally peaceful city are not blown apart by shells, our windows unshattered, our basements used for recreation instead of shelter from the madness raging outside.
Compare that, for example, to Victoria for heaven’s sake, where households with annual income of $42,000 “cannot affordably rent a bachelor unit.” A bachelor unit! CMHC says the majority of renting households “remain in dire need” of affordable and suitable housing. No kidding. There is a caveat to CMHC numbers. Some landlord organizations, and others, view CMHC’s annual report as too little too late. The report covers only purpose-built apartment buildings and condo apartments, leaving aside the many homes and basement suites also for rent in the city.
Interesting was that the vacancy rate dropped even as the rental market “universe” increased by 576 units last year, the highest gain since 2012; so there was clearly higher interest in rental units. Especially in a climate which manages to go from -40 C to 40 C in the space of a few months. Neither extreme heat nor cold is really very good for any of us if we are in unsheltered or under-sheltered conditions.
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