SHURE Thoughts for the Day – March 21, 2024

March 21, 2024

SHURE Initiative

The pressing challenge of housing affordability in Canada has reached a critical juncture. For several years, housing prices and rents have surged out of sync with average incomes, a trend that has only worsened during and after the pandemic. The initial wave of ultra-low mortgage rates at the pandemic’s onset drove housing prices skyward. Subsequently, a sharp increase in mortgage rates has tempered these price hikes but, in turn, exacerbated affordability issues by burdening borrowers with mortgage payments not witnessed in decades.

Murtaza Haider, Professor of Data Science and Real Estate Management, Toronto Metropolitan University from SHURE story: Concerns Raised in Canada’s Senate Regarding International Student Recruitment and Housing Conditions

Occupancies are flat yearly, with very low vacancies across all the markets. We’re, maybe, leasing up a week or two earlier this past cycle than the prior cycle with an earlier level of inquiry than the preceding year. By and large, across our portfolio, there is relatively strong rent growth.

  Ian Husted, Vice President – Investments, Woodbourne Capital Management International, LP from SHURE story: A Tale of Headwinds and Tailwinds in PBSA/PBSH in U.S., Canada and Europe: 4 Questions with Woodbourne’s Ian Husted 

It’s clear we need to get back to value creation. That means resolving the litigation, addressing the debt, and rebuilding the pipeline. Those are essential to-dos for my management team and me.

— Bill Anderson, CEO, Bayer

Related SHURE Event: SHURE: Vancouver & Western Canada, March 26-27, 2024, Vancouver, BC