Saskatoon Construction - Page 486

Ruckus · #**9701** Posted **Jan 27, 2011, 1:06 AM**

Homes less affordable across Canada: Study
By Mark Iype, Postmedia News January 26, 2011 Comments (15)

Read more: http://www.canada.com/business/Homes+les...a+Study/4169815/story.html#ixzz1CC1NR319

[...]

About 75 of the 325 cities analyzed were labelled "severely unaffordable," where housing costs more than five times the average income. Along with Vancouver, three other cities in B.C. — Victoria, Abbotsford and Kelowna — fell into that category.

The only two other "severely unaffordable" Canadian cities were Montreal and Toronto, where homes cost 5.2 and 5.1 times median income, respectively.

And while Calgary and Edmonton continue to see rapid growth and soaring home prices, Saskatoon has overtaken the Alberta hubs in terms of housing affordability.

A home in Saskatoon now costs $277,000, which is about 4.3 times the average annual salary of $63,900. A home in Calgary will cost four times the annual median salary, while it is 3.5 times the median salary in Edmonton. Both those cities have high average annual salaries — more than $80,000 a year in both — that help to offset the high cost of housing.

[...]

Read more: http://www.canada.com/business/Homes+les...a+Study/4169815/story.html#ixzz1CC1wpQPE

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Surprisingly ridiculous! The crash is right around the corner...

What is pushing demand? This is beginning to baffle me.

Measuring Stick · #**9702** Posted **Jan 27, 2011, 2:50 AM**

Quote:

Originally Posted by Ruckus

Homes less affordable across Canada: Study
By Mark Iype, Postmedia News January 26, 2011 Comments (15)

Read more: http://www.canada.com/business/Homes+les...a+Study/4169815/story.html#ixzz1CC1NR319

[...]

About 75 of the 325 cities analyzed were labelled "severely unaffordable," where housing costs more than five times the average income. Along with Vancouver, three other cities in B.C. — Victoria, Abbotsford and Kelowna — fell into that category.

The only two other "severely unaffordable" Canadian cities were Montreal and Toronto, where homes cost 5.2 and 5.1 times median income, respectively.

And while Calgary and Edmonton continue to see rapid growth and soaring home prices, Saskatoon has overtaken the Alberta hubs in terms of housing affordability.

A home in Saskatoon now costs $277,000, which is about 4.3 times the average annual salary of $63,900. A home in Calgary will cost four times the annual median salary, while it is 3.5 times the median salary in Edmonton. Both those cities have high average annual salaries — more than $80,000 a year in both — that help to offset the high cost of housing.

[...]

Read more: http://www.canada.com/business/Homes+les...a+Study/4169815/story.html#ixzz1CC1wpQPE

_______________

Surprisingly ridiculous! The crash is right around the corner...

What is pushing demand? This is beginning to baffle me.

If life were as simple as comparing housing prices to income we would all have bought houses up like crazy five years ago. I am not sure why people seem to assume that because our houses are overvalued compared to income a "crash" is coming. Incomes move too and from what I have seen Saskatoon incomes are rising steadily. So I doubt a crash will not occur but a tempering of values and a slow steady decline to meet the new higher salary levels that we will be seeing in the coming years in Saskatoon. The local economy and influx of people into our City will remain too high for a so called crash.

Don't get me wrong i think our homes our priced high too, but a crash is unlikely unless the Saskatoon economy itself crashes too. Secondly the "average" house price is the worst measure of a City's housing market and why in Canada we keep relying on it is beyond me.

Ruckus · #**9703** Posted **Jan 27, 2011, 4:45 AM**

I don't think a crash is coming

. I'm just perplexed by the sustained price increases. Unemployment has been rising for over a year now. Job growth has been weak to non-existent over the last few quarters. It's a big WTF for me. People are opting for less house AND lower wages in Saskatoon than more house AND higher wages in Edmonton or Calgary. There's more to this story than population growth.

I really thought the market would cool down over the summer and into next year. With this latest report, I'm not so sure.

This guy has some great commentary on the Saskatoon market.

Quote:

Is Saskatoon really booming? Mayor says yes, CIBC says no

[...]

We can see that while Saskatoon had the biggest population growth of the major centers it had the third worst employment growth (actually negative). MLS unit sales were in the bottom half while average prices were in the upper half. For some more economic variables from CIBC go here.

I have said all along that most of the boom this city is experiencing is based on debt. From the Federal Government stimulus projects injecting tens of millions of dollars into the local economy. The Provincial Government has increased spending over 30% over the last 3 and a half years. The City of Saskatoon has doubled spending in the last 5 years, while Saskatoon consumers have led or been near the top of consumer spending growth in the nation at the same time. All of this is unsustainable over the long term as credit growth over the past decade mushroomed.

I would ask if Saskatoon is really booming, are public and private balance sheets in order to weather the bust?

Echoes · #**9704** Posted **Jan 28, 2011, 8:04 PM**

A comment on the Third Avenue Project...

The block between 22nd and 21st does not yet have the pedestrian lighting installed. What is there are standard green streetlights installed in the centre median. I am assuming (hoping) that these standard streetlights are temporary, and are there in lieu of the heritage lights until they arrive.

The City says heritage posts will be used in the median in this document:
http://www.saskatoon.ca/DEPARTMENTS/Comm...%20House%20-%20Presentation%20Boards.pdf

Hope they didn't have to cut costs and forego the special lights in the median? I'm looking forward to seeing more progress on that street.

Also, I'm not sure if I'm the first to say this, but the exterior of the Place Riel addition is Ugly. And from what I've seen so far, I'm finding the interiors pretty bland too. Too bad.

Ruckus · #**9705** Posted **Jan 28, 2011, 8:24 PM**

Quote:

Originally Posted by Echoes

A comment on the Third Avenue Project...

The block between 22nd and 21st does not yet have the pedestrian lighting installed. What is there are standard green streetlights installed in the centre median. I am assuming (hoping) that these standard streetlights are temporary, and are there in lieu of the heritage lights until they arrive.

The City says heritage posts will be used in the median in this document:
http://www.saskatoon.ca/DEPARTMENTS/Comm...%20House%20-%20Presentation%20Boards.pdf

Hope they didn't have to cut costs and forego the special lights in the median? I'm looking forward to seeing more progress on that street.

Also, I'm not sure if I'm the first to say this, but the exterior of the Place Riel addition is Ugly. And from what I've seen so far, I'm finding the interiors pretty bland too. Too bad.

The food court area is so dull. Feels like an overcast day, every day (why so much grey!?!). It's at the bottom of my most frequently visited places on campus.

jigglysquishy · #**9706** Posted **Jan 28, 2011, 9:18 PM**

Lower Place Riel is so poorly designed. I'm glad I don't have to walk through there for class.

drm310 · #**9707** Posted **Jan 28, 2011, 9:56 PM**

Without moving the staircase, there isn't a lot of flexibility for the space down there. They needed to keep the path clear for movement between the bottom of the stairs and the tunnel to Arts. That left the spaces off to the sides for food services, the computer store and the arcade. I think they made the best of what they had to work with.

Quote:

Originally Posted by jigglysquishy

Lower Place Riel is so poorly designed. I'm glad I don't have to walk through there for class.

kgc087 · #**9708** Posted **Jan 28, 2011, 9:56 PM**

Quote:

Originally Posted by jigglysquishy

Lower Place Riel is so poorly designed. I'm glad I don't have to walk through there for class.

Can you take pictures?

jigglysquishy · #**9709** Posted **Jan 28, 2011, 10:18 PM**

I'll be able to take pictures Monday.

kgc087 · #**9710** Posted **Jan 28, 2011, 10:33 PM**

Quote:

Originally Posted by jigglysquishy

I'll be able to take pictures Monday.

Awesome! I was invited to be a part of an extended version of the Saskatoon Speaks blogs, perhaps I will write about a tragic design job with the help of your photos.

gowest · #**9711** Posted **Jan 29, 2011, 1:06 AM**

They started the big pour on the first cross member for the east pier towers this morning, still pouring at 7:00pm. Check the live cam.

dsim249 · #**9712** Posted **Jan 29, 2011, 1:27 AM**

Quote:

Originally Posted by Ruckus

The food court area is so dull. Feels like an overcast day, every day (why so much grey!?!). It's at the bottom of my most frequently visited places on campus.

Yeah... I just kept telling myself "Well... it's not finished yet..." But, it's nearing completion, and is it ever blah.
I enjoy the space and design (for the most part), it would have been a tricky space to deal with, I'm sure. But their [lacking] use of colour is disappointing.

On the bright side, it is a major improvement from the original.

Jerry · #**9713** Posted **Jan 29, 2011, 1:35 AM**

South Bridge - Taken today at 10:00 AM

TheCricket · #**9714** Posted **Jan 30, 2011, 2:37 AM**

Quote:

Originally Posted by kgc087

Awesome! I was invited to be a part of an extended version of the Saskatoon Speaks blogs, perhaps I will write about a tragic design job with the help of your photos.

So you're going to speak about Lower Place Riel on a public and published blog with the aid of some photographs, or will that be your take on what it looks like from Toronto?

I've walked the halls and taken lunch down there numerous times as an employee of the University and I must say that it is a million times better than that other drab hole we had. It might not be the most glam place in the city, but it is definately a vast improvement from where we've come from. We're moving forward, not backwards - so we're at least moving in the right direction Kelly!

youngregina · #**9715** Posted **Jan 30, 2011, 5:23 AM**

Quote:

Originally Posted by Jerry

South Bridge - Taken today at 10:00 AM

Is that river dam around the construction site going to be able to handle the snow melt and rising river levels come spring. The water just looks very high even right now.,

jrm857 · #**9716** Posted **Jan 30, 2011, 5:58 AM**

I quite like the place reno's very clean looking, very modern simple design, and much much brighter looking.

dsim249 · #**9717** Posted **Jan 30, 2011, 6:36 AM**

Quote:

Originally Posted by youngregina

Is that river dam around the construction site going to be able to handle the snow melt and rising river levels come spring. The water just looks very high even right now.,

The level of the river within Saskatoon is controlled by Gardiner Dam. (I think.

Someone correct me if I'm wrong.)

kgc087 · #**9718** Posted **Jan 30, 2011, 4:51 PM**

Don't forget the photos of Place Riel for me! I have a feeling I might like it, colour is just inappropriate in institutions, it dates and there will always be someone who doesn't like it.

jigglysquishy · #**9719** Posted **Jan 30, 2011, 5:18 PM**

I'll be taking pictures tomorrow.

And I'm only in first year so I have no idea what the Old Place Riel looked like.

WoodlandCritter · #**9720** Posted **Jan 30, 2011, 8:37 PM**

I am wondering does anyone have any info or updates on the German Concordia Club's new building? i thought i saw them building it up over Christmas but i'm not sure if that was it. Pictures would be great too. Just wondering what kind of structure they are building out there.