Chris Chornohos Real Estate Expert

03/02/2023

Closing out 2022, the Canadian rental industry has experienced extremes of demand, run-away rental growth, and the subsequent reversal of trends, according to a national report by Rentsync. The report said rental rates in December showed signs of slowing down after four consecutive months of decreasing demand.

To read more from this report, and my take on it, head on over to the blog post at link below:

https://chrischornohos.com/tightening-of-rental-demand-likely-in-2023/

#2023

Closing out 2022, the Canadian rental industry has experienced extremes of demand, run-away rental growth, and the subsequent reversal of trends, according to a national report by Rentsync.

02/16/2023

It was a strong 2022 for Calgary’s purpose-built rental market -- several economic factors have all lined up in the past year to help support an increasingly popular multi-family residential market.

To get my take on it head on over to the blog at link below.

#2022

Several economic factors have all lined up in the past year to help support an increasingly popular multi-family residential market in Calgary.

02/02/2023

NEW BLOG POST: One of the most common complaints these days in the real estate industry seems to be how long and difficult the approval process is for expediting housing projects in many parts of the country, including Calgary.

And a new study by the Canadian Home Builders’ Association, National Municipal Benchmarking Study, prepared by Altus Group Economic Consulting, had some truly interesting results about the situation. To get my full take on this, head on over to the full blog post at link below:

https://chrischornohos.com/expediting-approval-process-a-key-for-meeting-housing-supply-shortage/

01/19/2023

NEW BLOG POST - Several economic market fundamentals are lining up to make this a very positive year for the multi-residential real estate sector in Canada, and one of those real estate assets that’s set to thrive is purpose-built rentals. To get my take on this, head on over to my website for the full article at link below: https://chrischornohos.com/purpose-built-rental-development-trying-to-keep-up-with-demand/

Several economic market fundamentals are lining up to make this a very positive year for the multi-residential real estate sector in Canada.

01/05/2023

Is Canada becoming a nation of renters?

That’s the interesting question posed recently by RBC Economics as it looked at the growing trend in the country for more people renting a home today and fewer considering home ownership. To get my take on the several factors contributing to this, head on over to the full post at link below.

https://chrischornohos.com/canada-is-moving-towards-a-rentership-nation/

11/24/2022

Increasing levels of employment and population growth through immigration and inter-provincial migration, buoyed by a strong economy, are boosting the resurgence this year in housing construction in Calgary, particularly in the multi-family residential real estate market.

This is undoubtedly a positive sign for city. To read my full take on this, head over to my most recent blog post: https://chrischornohos.com/construction-of-rental-units-continues-in-calgary-supporting-growing-demand/

Increasing levels of employment and population growth through immigration and inter-provincial migration, buoyed by a strong economy, are boosting the resurgence this year in housing construction in Calgary, particularly in the multi-family residential real estate market.

11/17/2022

Newmark's Q3 2022 United States Multifamily Capital Markets Report has been released!

Key takeaways from this report are that Sales volume is down 17% YOY, Pricing declined 9.0% with purchasers seeking price adjustments prior to close, Cap rates up 55 bps quarter over quarter, and yield spread over bonds lowest in history.

The US is not in recession yet (expected in early 2023), and inflation still remains a big problem. The Federal Government has hiked rates faster than any time in modern history, and they are expected to peak next year and stay above 4% (10 Yr US Treasury) until 2024. Regarding the supply chains issues, they are easing and we are seeing record rent growth across markets. To get full report, head on over to this link: https://www.nmrk.com/insights/market-report/united-states-multifamily-capital-markets-report

Newmark presents the Third Quarter 2022 United States Multifamily Capital Markets Report. The statistics and in-depth market perspective contained in the report illustrate current multifamily trends.

11/03/2022

NEW BLOG POST: In recent months, the Alberta government has launched a campaign to attract people from other parts of the country to seek employment and move to the province.

The Alberta is Calling campaign has one key thrust.

Affordability.

In recent months, the Alberta government has launched a campaign to attract people from other parts of the country to seek employment and move to the province.

10/27/2022

NEW BLOG POST -- As we know, the multi-family rental market across North America has never been as strong as it is today with various economic factors giving support to that real estate asset class.


With that being said, many of the big real estate players, real estate investment trusts and investors are seeing a grand opportunity in scooping up value-add properties. To read the full article head to link below:

The multi-family rental market across North America has never been as strong as it is today with various economic factors giving support to that real estate asset class.

09/22/2022

With fears that there’s a recession on the horizon, Alberta is well-positioned in an economic sense to withstand any turbulent times that may lie ahead. Read full article here to see how >> https://chrischornohos.com/alberta-well-positioned-for-impeding-recession/

With fears that there’s a recession on the horizon, Alberta is well positioned in an economic sense to withstand any turbulent times that may lie ahead.

09/08/2022

One of the big issues that has surfaced this year is the lack of housing supply across the country that’s needed to meet the current demand in both homeownership and rental. Luckily, in Calgary and across the country, the real estate industry is responding by building more homes. Check out my recent blog post to find out more: https://chrischornohos.com/real-estate-developers-start-to-alleviate-housing-shortage-problem/

One of the big issues that has surfaced this year is the lack of housing supply across the country that’s needed to meet the current demand in both homeownership and rental.

08/25/2022

I am pleased to share Newmark's recent U.S. Multifamily Report from our Capital Markets team for Q2 2022.

Great news for the multifamily sector -- investor activity surged in 2Q22 ,with $86.3 billion in sales volume, representing a 42.4% year-over-year increase, as well as the third largest quarterly sum in history.

To get more intersting highlights on this niche market, read full report here: https://www.nmrk.com/insights/market-report/united-states-multifamily-capital-markets-report?utm_medium=email&utm_source=nkf-cb&utm_campaign=2Q22%20U.S.%20Multifamily%20Capital%20Markets%20Report&utm_term=08%2F18%2F2022

Newmark presents the Second Quarter 2022 United States Multifamily Capital Markets Report. The statistics and in-depth market perspective contained in the report illustrate current multifamily trends.