Blog – Housing Starts and Value – Real Estate (Housing)
The actual (not seasonally adjusted) national average home price was a record $678,091 in February 2021, up 25% from the same month last year.
The national average price is heavily influenced by sales in Greater Vancouver and the GTA, two of Canada’s most active and expensive housing markets. Excluding these two markets from calculations cuts more than $150,000 from the national average price or ex GTA and Vcr (523K)
Source - https://creastats.crea.ca/en-CA/
Low inventories / high costs - http://www.rbc.com/economics/economic-reports/canadian-housing-forecast.html
Debt Bubble - https://www.bnnbloomberg.ca/economics/video/economist-who-predicated-the-last-financial-crisis-warns-of-a-debt-bubble-pop-amid-the-covid-19~1924800
Lumber costs - https://www.housingwire.com/articles/insane-lumber-prices-mean-new-homes-cost-24k-more/
More debt to the economy - https://economics.td.com/ca-housing-update
2. PAUL YOUNG - BIO
• CPA, CGA
• Financial Solutions
• SME – Business Process Changes
• SME – Risk Management
• SME – Close, Consolidate and Reporting
• SME – Public Policy
• SME – Emerging Technology
• SME – Public Sector reforms and
transformation
• SME – Digital Economy
• SME – Supply Chain Management
• SME – FOPM / Financial Solutions
• Academia – Advance Accounting, Public
Finance and Advanced Management
Contact information:
Paul_Young_CGA@Hotmail.com
3. AGENDA
• Average House Price Canada and Key Cities
• Commodity Price of Lumber
• Modular Housing / Solutions
• Urban Planning
• Technology / Housing
• What’s next
6. PRICE OF LUMBER
• Lumber pricing - https://globalnews.ca/news/7381641/lumber-pricing-prediction-north-
america/
• Softwood Lumber shortages - https://www.mortgagebrokernews.ca/news/how-is-the-
softwood-lumber-shortage-affecting-canadian-home-prices-and-supply-333723.aspx
• USA and Softwood Lumber - https://www.newswire.ca/news-releases/us-housing-starts-
amp-softwood-lumber-prices-august-and-september-2020-madison-s-lumber-reporter-
844871740.html
• Lumber Prices - https://www.woodbusiness.ca/lumber-prices-increased-globally-in-
second-half-of-2020-wri/
• Affordability - https://www.lifehack.org/articles/money/worlds-20-most-expensive-and-
affordable-cities-live.html
• Homebuyers and renovators hoping for a mid-winter price slump are instead being greeted with
new all-time record high prices for lumber and oriented strandboard (OSB) building panels
https://www.canadianmanufacturing.com/manufacturing/benchmark-lumber-prices-jump-to-a-
record-us1000-despite-slowdown-in-sales-volumes-267060/
• Here is my work on forestry - https://www.slideshare.net/paulyoungcga/what-is-next-for-
the-forestry-sector-242309578
7. MODULAR HOUSING SOLUTIONS
• $85B (USD) global market with CAGR predicted to be about 6% -
https://www.marketsandmarkets.com/Market-Reports/modular-construction-market-
11812894.html
• Mass production modular housing could help make housing more affordable -
https://www.cnbc.com/2020/07/28/how-buildings-made-in-factories-could-have-a-big-role-
in-the-future.html
• Adjusting to smaller homes is no big deal - https://www.straight.com/news/living-in-smaller-
spaces-isnt-hell-that-some-people-make-it-out-to-be
• Municipal by-laws
• https://www.forbes.com/sites/pikeresearch/2019/11/20/3d-printed-homes-quietly-gain-
traction/?sh=101c0e5c63bd
8. URBAN PLANNING
• The problem from the get-go has been with proper urban planning including rural vs urban strategy! It is time for all levels
government to look at innovator solutions when it comes to building affordable housing
https://www.slideshare.net/paulyoungcga/urban-and-rural-planning-whats-next
• Vacate property due to COVID19 - https://www.phillyvoice.com/greg-englesbe-real-estate-strategic-conversion-vacant-
commercial-space-affordable-housing-0599945/
• Building codes need to revamp to deal with 3-D housing - https://www.forbes.com/sites/pikeresearch/2019/11/20/3d-printed-
homes-quietly-gain-traction/#74899cc763bd
• Green Belt Protection/Development - https://www2.slideshare.net/paulyoungcga/greenbelt-ontario
• https://www.thestar.com/news/gta/2020/10/06/york-region-asks-province-for-process-to-open-up-protected-greenbelt-again.html
• All levels government need to look at proper land management - https://www.slideshare.net/paulyoungcga/why-do-politicians-
play-games-with-the-environment
• Smart Cities - https://www.mccourier.com/global-smart-city-ict-infrastructure-market-2020-industry-outlook-cisco-verizon-
communications-huawei-ibm-ntt-communications/
9. TECHNOLOGY AND HOUSING
• AI and at risk for homelessness - https://www.cbc.ca/news/canada/london/artificial-intelligence-london-
1.5684788
• AI and cost control - https://www.enr.com/events/880-ai-how-it-s-transforming-project-management-for-the-
better
• Smart construction - https://www.weforum.org/agenda/2020/08/here-s-how-smart-construction-could-
transform-home-building-after-covid-19/
• AI and housing - https://www.urban.org/urban-wire/four-ways-technology-addressing-housing-affordability-
crisis
10. SOCIAL HOUSING
• Govt buying commercial properties - https://globalnews.ca/news/7348331/federal-liberals-
rapid-housing-funding-motels-hotels/ or https://www.cmhc-schl.gc.ca/en/media-
newsroom/news-releases/2020/canada-rapidly-create-affordable-housing-support-homeless
• Modular housing units - https://torontostoreys.com/federal-government-1-billion-modular-
housing/
• 20 years ago is when Canada had a social housing plan - https://cwp-csp.ca/2014/01/20-years-
ago-canada-had-a-housing-plan/
11. WHAT’S NEXT
• More needs to be done to make housing affordable including reviewing the housing models
• More focus on moving people away from big cities to rural areas -
https://www.slideshare.net/paulyoungcga/urban-and-rural-planning-whats-next-236315321
• Focusing on growing economy including high paying jobs -
https://www.slideshare.net/paulyoungcga/gdp-canada-real-truth-august-2020 and
https://www.slideshare.net/paulyoungcga/global-economy-current-state-and-whats-next
• All levels of government working together to make housing more affordable -
https://www.slideshare.net/paulyoungcga/housing-market-affordability-and-costing-canada-september-
2019
• Municipal building codes adjusting to methods of house building including 3D printing and modular
construction
Editor's Notes
Source - https://www.cbc.ca/news/business/house-prices-numbers-july-1.5689129 or https://crhttps://www.cbc.ca/news/business/crea-november-sales-1.5841749eastats.crea.ca/en-CA/ or https://www.cbc.ca/news/business/crea-november-sales-1.5841749
Source - https://economics.bmo.com/en/publications/detail/1f459a77-52d4-4dd7-97a0-386eae49f764/ or https://economics.bmo.com/en/publications/detail/0ab1bc6f-4aec-4273-aca6-342988ac06ec/