Real Estate

Aspen’s tiny homes for teachers illustrate how Americans are getting boxed in by real-estate prices

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John Fisher, a high-school woodworking teacher in Aspen, Colo., has helped students to build tiny houses like this one for school district employees. ‘Going to be cozy,’ Mr. Fisher says of the houses.Photography by Nathan VanderKlippe/The Globe and Mail

John Fisher steps into the shell of a small structure that his students have steadily been building into a future home for one of their teachers. The teenagers that walk the halls of his school, Aspen High, include the scions of America’s most storied business dynasties. Descendants of the families that built Hilton hotels and Walmart have attended this unique institution, with its parking lot that connects to a chairlift climbing the nearby slopes.

But the home these students are building would make a tight fit for corporate royalty. Mr. Fisher, the high school’s woodworking teacher, laughs when he describes its key feature: “Efficiency,” he

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Real Estate

Windsor industrial real estate prices smashing records

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Windsor’s industrial real estate market reached new heights in 2023 as a strong fourth quarter saw records smashed for average sales and lease rates and new industrial space under construction.

The average sales price in Windsor ($175.55 per square foot) rose eight times as much as the national average (1.5 per cent). Lease rates climbed 13.6 per cent to $10.53 per square foot, more than double the Canadian average.

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Real Estate

This Week’s Top Stories: Canadian Real Estate Prices Absurd Compared To G7, Forecast To Fall

Time for your cheat sheet on this week’s top stories.

Canadian Real Estate

Canada’s Real Estate Bubble Is Batsh!t Crazy Compared To Other G7s

Canadian real estate prices are moving like nothing else in the developed world. New data from the US Federal Reserve shows Canadian home prices have risen much faster than any other G7 country. Despite recent growth being attributed to population, this issue pre-dates the recently adopted narrative. Since 2005, Canadian home prices have shown more than double the growth of any other G7 country.

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Canadian Real Estate Markets Improved, But Prices Are Still Falling: BMO

Canadian real estate sales rose but not enough to stop prices from falling. Home sales showed monthly growth of 8.7% in December, while new listings fell. Despite the mild tightening, prices continue to fall—dropping another 0.8% in December. It was the fourth month that home prices fell, with at

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Real Estate

WHAT'S AHEAD: Real estate prices may bottom out when mortgage rates drop

“With fewer than 950 sales for the whole year, (2023) was the slowest year for real estate sales since 1997,” said Darcy Toombs of Toombs Team Real Estate Group in Newmarket

Since the start of 2023, single family homes in the GTA, in which Newmarket resides, have risen from $1.268 million to more than $1.3 million.

This year, the average price of a single family home in the GTA peaked in June at $1.402 million, but has since dropped each month to $1.347 million as of October.

Similarly, apartment prices in the GTA have risen in 2023 with the average cost being $698,300 in January and have risen to $713,500 as of October. But, apartments did dip as low as $682,000 in March and peaked at $728,400 in September. 

It was much of the same with townhouses in the GTA throughout the year with the average cost being $797,400 in

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Real Estate

Real estate dream lives on in Quebec, but prices are taking a toll

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Home ownership remains a goal for many Quebecers — but deteriorating affordability has somewhat dented real estate’s allure.

Twenty-two per cent of Quebecers plan to buy residential real estate in the next five years, down from 25 per cent in 2020, a Léger poll released Thursday found. The proportion rises to 26 per cent in Greater Montreal.

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Seventy-nine per cent of would-be home buyers who answered the survey plan to buy a main residence. Some 67 per cent would prefer to buy an existing property because it costs less than newly built housing, Léger also found.

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“The real estate dream still exists, but Quebecers are going to have to be a lot more realistic,” Léger executive vice-president Christian Bourque said Thursday during a presentation hosted by the Quebec Professional Association of Real Estate Brokers in Montreal.

Soaring real estate prices have affected buyer expectations.

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