Brimming With Confidence From mega projects to return of the Jets, home builders have every reason to feel optimistic
By Holli Moncrieff
With all the talk of a housing bubble, some current and prospective home- owners are getting nervous. Is the same crash experienced by Vancouver also inevitable for Manitoba’s housing industry? According to Mike Moore, President of the Manitoba Home Builders’ Association, you can’t believe everything you read. “Even our local media runs Canadian Press stories that were written in Toronto and Van- couver. The trouble is, if you only read forecasts out of Toronto and Vancouver they’ll make you think Canada is having a housing bubble, when really just Toronto and Vancouver are having one.” Even though Manitoba is in the same country, it might as well be in another world as far as the housing industry is concerned, Mr. Moore says. “We have a more balanced market in Mani- toba, with single family detached homes and multi-family units selling about the same. There’s demand for both. We’re not reliant on one type of housing. Our housing market is diversified.”
Far from a housing bubble, the MHBA is predicting another strong year for Manitoba, second only to last year, which set records for new housing starts. Mr. Moore says that new home starts surpassed 4,000 units in Winnipeg and more than 7,000 in Manitoba last year. The Canada Mortgage and Housing Corpo- ration forecasts only 200 units less overall for Mani- toba in 2013. “We have another dynamic year forecasted. We won’t do quite the same volume we did in 2012, but 2012 was an unbelievable year,” he adds. “Those were amazing numbers, and this year is likely to be second only to last year. If it’s second only to our best year, that’s pretty good.” Snow is still on the ground, but already local builders are keeping busy. “We’re very optimistic. We’re already busier than we’ve ever been at this time of year,” says Gerry Trotti- er, owner and general manager of Southwynn Homes. “A home in Manitoba is a fabulous investment. It’s one of the best investments people can make right now, and the beauty of it is that the interest rates remain so low.”
‘This year is likely to be
second only to last year. If it’s second only to our best
year, that’s pretty good’
Cont’d on page 7
6 Parade of Homes Spring 2013
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