The Market Manuscript by Ben Myers – Spring 2017
Monday March 20, 2017
Fortress Real Developments Inc. is pleased to release the seventh edition of The Market Manuscript by Ben Myers, SVP Market Research and Analytics. In addition to looking at historical and projected housing starts, house prices and unsold supply, the report includes the latest academic conclusions on the topic of housing bubbles and government housing market interventions. These findings are supplemented by two original Fortress surveys conducted of the general public via Twitter, Facebook and LinkedIn, and residential builders and developers. Reference the report on social media with the hashtag #MM7
Market Manuscript Overview
Market Manuscript | Spring 2017
Ben Myers explains what he covers in the Spring 2017 edition of this comprehensive report
Author and market research veteran Ben Myers uses his 15 years of real estate experience in Canada and the U.S. to meld together original content, independent third-party data, and expert economic analysis for this latest release. The data and forecast rational are collected and presented in easy-to-read charts and infographics. Quotes from analysts across the globe are taken word-for-word, and the figures are presented alongside their long-run averages where available. Ben adds his own commentary and interpretations formed through extensive macro and micro level due diligence performed while assessing Fortress projects.
Market Manuscript – Spring 2017
The report provides answers to these 10 key questions:
Do we have a supply or demand problem? Household formation has been the same or higher than new home completions nationally since 2012.
New and resale house prices outperformed expectations in Toronto, Ottawa, Winnipeg and overall in Canada last year. Why did the experts miss in 2016, and what are the forecasts for 2017?
Are we in a housing bubble? Assessing whether a market is too frothy is more of an art than a science, but benign neglect of the topic is no longer an option.
What recently implemented and proposed government housing market interventions have the support of the public and the homebuilding industry? Opinions align on the new mortgage rules changes, but are split on a foreign buyers tax.
Why aren’t there more purpose-built rental projects under construction? Builders and developers point to upfront costs and alternative uses for the land.
When priced the same, Canadians prefer suburban low-rise housing to downtown condominiums. Can governments continue to disregard preferences when setting land-use policies?
Are developers hoarding land to drive up house prices? No. See the results of the January 2017 Fortress residential developer survey.
The global demand for oil is expected to exceed the supply of oil in 2017. What impact will a modest rise in oil prices have on the Calgary and Edmonton housing markets?
Resale house prices picked up momentum as the year progressed in Ottawa. Did this improvement spark the slumping new condominium market?
Will Winnipeg house prices exceeded expectations again in 2017? Analysts expect another “non-headline grabbing” year in Manitoba’s capital city this year.