BC Housing’s Post

Construction is evolving - and so are we. Our very own Max De Angelis, President of Fortis Group, discusses the pressing need for collaborative solutions to tackle Windsor-Essex's affordable housing challenge. Emphasizing the pivotal role of builders, governments, and consumers in embracing a cultural shift toward high-density projects and redefining affordability." From high-density projects to redefining affordability, we're in the midst of a housing evolution. Read more about our insights on the evolving housing landscape in our community. https://lnkd.in/dRsQ_DM2 #AffordableHousing #WindsorEssex #CommunityDevelopment #OntarioConstruction 

New-home construction surged in November to a six-month high, benefiting from a lack of existing houses on the market and suggesting the crunch in residential real estate is easing. Residential starts increased 14.8% last month to a 1.56 million annualized rate, Census.gov data showed Tuesday. Construction of single-family houses jumped 18% to the highest level since April 2022, while starts of multifamily projects increased 6.9%. All regions reported increased housing starts in November, including a 16.3% jump in the South. New construction doubled in the Northeast, and rose 2.1% in the West and 1.4% in the Midwest.

🏡 **Canada's Housing Challenge: A Call to Action for Innovation and Collaboration** 🚀 Canada faces a pressing need to build 3.5 million new housing units within the next seven years to address a critical shortfall in affordability, accessibility, and sustainability. To put this into perspective, this goal requires a staggering 500,000 homes per year, more than doubling our current output (which peaked in 1974). 🏗️ A deep dive into the issue reveals that 80% of the housing shortage is concentrated in Ontario, BC, and Alberta, according to the Canadian Mortgage and Housing Corporation (CMHC). The challenge is not merely about quantity but also involves overcoming systemic issues such as affordability constraints, high material costs, and complex regulatory processes. The path forward calls for a multifaceted approach, emphasizing the pivotal role of government policy, technological innovations, and streamlined municipal processes. For instance, modular building, 3D printing, and AI can revolutionize construction, making it faster and more cost-effective, while also addressing labor shortages and optimizing land use. This isn't just about building homes; it's about reimagining the construction industry through collaboration and innovation. By leveraging technology and fostering partnerships among government, builders, and technologists, we can pave the way for a more efficient and sustainable housing market. Its time for Canada to transform the construction landscape. The future of housing is here, and it's time for all stakeholders to come together and make it a reality. #HousingCrisis #Innovation #SustainableDevelopment #CanadaHousing 🌍🔨 Blog post in comments!

We're living through a very precarious housing tug with the broader economy. Some things are out of builders hands, but some changes are in their control; key points in the blog post: 1. we're structurally stuck 2. industries that have been stuck, technology & innovation enable the breakthrough. 3. follow the money to figure out where to start. thanks!

A Page from Our History to Shape Our Future? 🏡 Drawing inspiration from the successful post-World War II program, Canada is set to introduce a modern catalogue of pre-approved home designs to help with the housing shortage. The original ‘Strawberry-box homes’ were built for returning war veterans, offering quickly constructed, affordable housing. The 1950s designs were small, efficient, and built within days. The new initiative aims to learn from this but adapt designs for contemporary needs. Financing Backed by the Canada Mortgage and Housing Corporation, the aim is to make these homes more accessible to a broader population. Construction Efficiency The program would leverage factory-built homes to extend the typical construction season, reduce costs and construction time and be more energy efficient. Learnings from Sweden’s Million Homes Program, which contributed to IKEA’s success, highlight the potential for standardized sizes and prefabricated components. Diverse Housing The initiative aims to create pre-approved designs for various housing types, including multiplexes, mid-rise buildings, student housing, senior residences, garden suites, and laneway homes as Canada requires more than just single-family homes. Public Consultation Consultations on the new initiative will begin in the new year to have the catalogue available for developers by the fall. Your Thoughts? What’s your take on this regenerated housing approach? There are many unanswered questions, but if we can leverage these designs to increase density as planned, this might be another piece of the housing shortage puzzle - it’s certainly NOT a magic bullet!

🏡 **Canada's Housing Challenge: A Call to Action for Innovation and Collaboration** 🚀 Canada faces a pressing need to build 3.5 million new housing units within the next seven years to address a critical shortfall in affordability, accessibility, and sustainability. To put this into perspective, this goal requires a staggering 500,000 homes per year, more than doubling our current output (which peaked in 1974). 🏗️ A deep dive into the issue reveals that 80% of the housing shortage is concentrated in Ontario, BC, and Alberta, according to the Canadian Mortgage and Housing Corporation (CMHC). The challenge is not merely about quantity but also involves overcoming systemic issues such as affordability constraints, high material costs, and complex regulatory processes. The path forward calls for a multifaceted approach, emphasizing the pivotal role of government policy, technological innovations, and streamlined municipal processes. For instance, modular building, 3D printing, and AI can revolutionize construction, making it faster and more cost-effective, while also addressing labor shortages and optimizing land use. This isn't just about building homes; it's about reimagining the construction industry through collaboration and innovation. By leveraging technology and fostering partnerships among government, builders, and technologists, we can pave the way for a more efficient and sustainable housing market. Its time for Canada to transform the construction landscape. The future of housing is here, and it's time for all stakeholders to come together and make it a reality. #HousingCrisis #Innovation #SustainableDevelopment #CanadaHousing 🌍🔨 Blog post in comments!

Although apartment construction is expected to break records in 2024, the U.S. is still behind on the number of new units some say are needed by 2035 to mitigate affordability issues. #JLLgovernment #government #governmenttrends #futureofwork

If you have not read or seen the annual compilation of construction and real estate data for the Huntsville area in 2022 here are some things you missed: 5,926 - number of building permits issued for residential dwellings. 3,719 – number of housing units granted certificates of occupancy; Huntsville added more housing units in 2022 than any other year since the Development Review began keeping records in 1983 11,327 – number of multi-family units approved for construction 81% – year-over-year increase in approved single-family subdivision lots 3,575 – number of single-family residential units sold in Huntsville $377,703 – average sale price for a single-family residence 694 – number of non-residential building permits issued 1,848 – number of acres annexed into Huntsville https://lnkd.in/e5tMyzVt As the Huntsville area continues to experience unprecedented expansion in residential and commercial construction, these compelling figures not only affirm the region's economic vitality but also underscore its attractiveness for prospective investors and homeowners alike. The notable surge in approved housing units, coupled with the impressive year-over-year increases, positions Huntsville as a dynamic and flourishing hub within the real estate market, offering promising opportunities for stakeholders in the construction and development sectors. Like these statistics would suggest, at Bahn & Corrow we are also keen on building a community, helping people achieve their business goals and objectives.

New construction homes now constitute one in three homes on the market. Our latest blog dives into the significant shift in the U.S. housing landscape, providing crucial insights for buyers and industry professionals. Read more at the link below. . . . #VanguardRealEstateGroup #NewConstructionHomes #Housing #RealEstate #NewHomes #HousingMarket

It's been a while since I read positive news about the residential sector but an article from Domain caught my eye this morning. There is fresh optimism due to an increased demand for new homes and renovation projects. Simonds Homes reported a $12.1 million profit, marking a significant turnaround from last year. Similarly, Hipages saw an 8% increase in job requests, indicating a surge in renovation interest. With the government’s commitment to building 1.2 million homes over the next 5 years and with prices stabilising and potential interest rate drops maybe the corner has turned in the residential sector? #ConstructionIndustry #RenovationBoom #residentialconstruction