If we have to give ourselves complete relaxation we have to think of our future expenses. This is definite that the rates of the entire things are rising and they will be rising in future also. So we have to study and inspect our procedures of earning and saving. At least today, we can consider and buy a good house for ourselves or we can even buy a property, but I think in future it would become more difficult for us to even think of buying any major property. Taking the financial assistance from the mortgage companies could help us to a great extent. We can be at ease while following their Cheap home mortgage rates. I think this is the right time we can invest our money towards buying a property. Once we secure ourselves financially, then we are mentally relaxed also.

I was planning to buy a big house for myself. At present I stay in two bedroom flat, but wanted to buy a bigger one. For this I needed adequate finance and then my friend advised me to approach the Mortgage rates Ontario. It is not that I did not have funds at all. I had quite funds which I could use as down payment. When I visited the Mortgage Rates Ontario, I found that this is the best place I was looking for a mortgage. Their Cost-effective home loan procedures were unique and simple too. After a careful discussion with their agent, I decided to fix the Home Loan which I considered was the best for me.

http://www.articlefeeder.com/blog/real-estate/17563-cost-effective-home-loan-process-is-convenient-at-mortgage-rates-canada

reviewed by Moishe Alexander, CFC  canadian funding corp CEO

It has been another busy month in Fort Saskatchewan Real Estate.

reviewed by Moishe Alexander, CFC CEO.

There were 32 Single Family Homes SOLD in the Month of May.

The Average Selling Price for a Single Family Home in May was $373,614 (an increase from $362,000 in the month of April).

It has been a busy start of the summer for Real Estate in Fort Saskatchewan with home prices increasing $10,000 from a month ago. Overall the price of a single family home in Fort Saskatchewan has dropped approximately $25,000 from last year (average selling price for a single family home in May 2008 was $399,900).

Source: REALTORS®  ASSOCIATION OF EDMONTON
AVERAGE AND MEDIAN MLS® SALE PRICES FOR DETACHED HOMES
FOR THE MONTH OF MAY

Check back next month and stay informed on your real estate market.

Coal's place.

Somewhere along our collective path, a home stopped being shelter, and became a house. Then it turned into an investment asset. Then a mark of social stature divorced from income or debt. Then an entire financial plan. And then a lot of us got into trouble.

Owning real estate is fine. But property does not a home make.

And just as Chris the new dad in the previous post seemed to confuse the two, so Coal in the note below wrenches us back to basics.

Most of us would not trade places, but many wish we might.

Hello Garth

Been following your blog for quite some time now, you pretty much nail it every time with what you post.  I got smart some 12 years ago and went the RV way of life.  Started out in a small fifth wheel trailer, living at one campground or the other always close to work.  I attached a pic of my current rig, which I paid for in cash last year. A luxury rig and we are very comfortable in this unit, me the wife and a 14 year old.  We park at my business where I own and operate a small truck repair facility for the winter months when I do the bulk of my work.  Seasonal camp in a campground about 10 miles away for the other 5 months of the year.

Business has been about 50 % down this last year.  So I layed off two guys and now it is just myself and my main guy working the shop. Everything I own is paid for and we have no debt, personal or business.  I own my receivables but none the less, we are making no money during this economic slump, but I am in a great position to weather these problems.  The last month or so our sales have picked up and my best scenario is too stay in my shop for as long as I can.  We have about 10 grand to fall back on, not alot, but we have no debt and my recievables are sitting around 40 grand right now with current bills in the business sitting around 10 grand.  I should also say that we got to this point from the economy but also from having to move our shop 4 times in the last year, can’t find a suitable shop, ok right now.  Also our previous trailer burned down last year and we had commercial insurance which paid out 50 %, shit, in ten months we spend 75 grand on two trailers and got back 17.  Big lumps.

My point of all this, is because we chose to live this lifestyle, our overhead in minimal.  I started my business 5 years ago and was able to save and pay out approximately 150 grand for equipment.  Save and pay for my boat, my custom dually diesel truck to pull my fiver, and a vehicle for the wife.  Had I had a mortgage and did like so many others do, finance everything, the last six months I would have lost everything and become bankrupt.  My wife does not work either, but helps out with some paperwork at the business, but mostly a full time mom looking after our 14 year old and also has time for our grandkids.

My mom has owned two houses, and says that every time she owns a house, it takes all the money.  My guy that works for me, has a half million house, and it takes everything he has to keep the boat afloat, wife working, and the parents living there to help. He carries no debt either with the exception of the mortgage, he and I both have not had credit cards of lines of credit for well over 25 years.

Getting close to 50 now and seriously thinking of some property in Northern Ontario where one day I can retire and park my trailer, fish and maybe work part time, have no idea of how much money I will have by then, maybe nothing, hinges on the economy.  Isn’t that a sad thing to say.

So keep up the good work with the blog as I look forward to each post on what you have to say.

Coal

http://www.greaterfool.ca/2009/06/12/big-lumps/
]]> http://moishe-alexander-cmhc2009.com/2009/06/moishe-alexander-presens-new-aspect-of-recession-big-lumps/feed/ 0 http://moishe-alexander-cmhc2009.com/2009/06/who%e2%80%99s-buying-cottages/ http://moishe-alexander-cmhc2009.com/2009/06/who%e2%80%99s-buying-cottages/#comments Tue, 16 Jun 2009 20:19:49 +0000 admin http://moishe-alexander-cmhc2009.com/?p=118 Just the other day, a past client gave me a call and told me they were ready to take the plunge…LITERALLY!  They love the home they’re in, but wanted a 2nd getaway by the lake. They’re timing couldn’t have been better! Canada, and in particular Ontario, has tons of exciting towns for us big city folk to relax in.    With the recent global economic downturn, recreational properties have become more affordable than previous years.  The search is now on for that perfect lake side retreat!

Also this week,  Re/Max Canada released their Recreational Properties Report.  What they’ve found is:

Generation X purchasers are poised to replace aging baby boomers as the major force in recreational property markets across the country, according to a report released today by RE/MAX.

The demographic shift was noted in the 2009 RE/MAX Recreational Property Report highlighting sales, pricing, trends and developments in 50 Canadian markets. The report found demand from Gen X (those born between 1965 and 1980) has nearly doubled over one year ago. Seventy-four per cent of markets surveyed this year reported a marked trend toward thirty-something buyers snapping up affordably-priced product, ranging from waterfront cottages to resort condominiums, compared to just 40 per cent in 2008.

“After being priced out of most markets for the better half of the last decade, Gen X purchasers now have the financial wherewithal to buy recreational product at virtually every price point,” says Michael Polzler, Executive Vice President, Regional Director, RE/MAX Ontario-Atlantic Canada. “Gen X is ideally positioned to pick up any slack in recreational property markets caused by softer demand from baby boomers and retirees. They represent the next wave of recreational property owners in Canada and they know it.”

The financial strength of the cohort dovetails well with current market realities. Sixty-six per cent of recreational property markets surveyed reported a decline in the number of recreational product sold in the first four months of 2009, while 22 per cent indicated sales were either up or on par compared to one year ago. While the combination of inclement weather and a global recession clearly hampered sales activity earlier in the year, many major centres are currently experiencing an upswing in activity as the traditional cottage season gets underway.

“Much of the activity in the marketplace today has to do with the mindset of this particular generation,” says Elton Ash, Regional Executive Vice President, RE/MAX of Western Canada. “More important than the investment aspect is the commitment to lifestyle. The purchase of a waterfront home or a condominium is more than a simple transaction to Gen X purchasers – owning a recreational property underscores their dedication to family and balance.”

The time to buy has never been better. With four exceptions, recreational property prices have softened in most major markets across the country. Only on the Newfoundland Coast and in Ontario, from Innisfil to Oro, Kingston, and Beaverton, have values increased this year compared to 2008. Starting prices remain similar to one year ago and in some cases are even higher.

“While buyer’s market conditions exist virtually across the board, sellers of recreational properties from coast-to-coast are clearly content to wait out the storm,” says Polzler. “They are in no hurry to unload their product. Many have held on to their properties for generations – they’re fully-owned yet underutilized, which has prompted some aging owners to list them for sale.”

The report also found that while lowball offers are on the rise, very few meet with success. Through tough negotiations with multiple sign backs, purchasers who are serious tend to find out the hard way that sellers are serious too. As a result, the sales-to-list ratio remains relatively high in most recreational property markets across the country.

“The prospect of greater stability down the road is creating cautious optimism in the marketplace,” says Ash. “Purchasers are seeking to buy quality product, whether it be situated on lakes, rivers, or ponds, before values start to once-again edge up.”

Highlights:
• Supply is adequate in most markets, but heated activity in the lower-end has resulted in tight inventory levels for entry-level product in 18 per cent of markets including: Bancroft, Combermere, Honey Harbour/Port Severn, West Kawarthas, Orillia, Flesherton, North Saskatchewan, and Salt Spring Island.
• Older cottage owners, many who own their properties outright, are selling to younger purchasers with families.
• Some American cottage owners in Canada are taking advantage of the stronger dollar to cash out of the market.
• American purchasers have largely fallen off the radar, with some exceptions: Lake Winnipeg, Shediac Bay, and Sault Ste. Marie.
• Pent-up demand is a factor in the marketplace, as those purchasers who had intended on buying recreational properties in the latter half of 2008 deferred their purchases to 2009.
• Older Canadians continue to seek secondary homes in warmer parts of the U.S such as Florida, Arizona, California, and Nevada.
• Generation X purchasers are prepared to spend their hard-earned dollars on recreational properties, but at the end of the day, they want to know that they’ve negotiated the best deal possible.
• The upper-end has somewhat softened in markets across the country.

The full in depth report can be downloaded here .  I highly recommend giving it a read, as it covers cottage towns all over Canada. If you’d like the names of some great cottage property sales reps, send me an email, I’d love to help!

reviewed by Moishe Alexander, CFC CEO

* Would be first time below 200,000 in seven years

* Existing home sales, prices also seen falling

* Slight rebound seen in 2010

(Adds details)

By Ka Yan Ng

TORONTO, Feb 19 (Reuters) – New home construction in Canada is expected to drop by 24 percent this year as part of the fallout from a slowing economy, but rebound in 2010, the Canada Mortgage and Housing Corp forecast on Thursday.

Housing starts are seen to be about 160,250 units for 2009, down sharply from 211,056 units in 2008, the country’s national housing agency said in its first-quarter Housing Market Outlook report.

The forecast was revised lower from its the fourth-quarter outlook, which predicted in October that Canadian home building would slip to 177,975 units this year.

This would put starts below 200,000 units for the first time in seven years.

Low mortgage rates and a growing economy contributed to a healthy housing market for years. But home construction, a cornerstone of Canadian growth, has steadily declined in each of last four months as the economy felt the bite of the global financial crisis.

“The economic downturn will result in a decrease in demand for home ownership leading to a decline in housing starts and existing home sales in 2009,” Bob Dugan, chief economist for CMHC, said in a statement.

“Housing market activity will begin to strengthen as the Canadian economy rebounds in 2010 and the level of housing starts over the forecast period will be more in line with demographic fundamentals. ”

All 10 provinces are expected to show declines in new home construction this year, it said, led by the Western provinces, each with more than 30-percent drops expected for the year.

Most provinces may see an uptick in home building activity in 2010, with the exception of Quebec and British Columbia.

Existing home sales, explaines Moishe Alexander, as measured by the Multiple Listing Service system used by real estate agents, are expected to decline 14.6 percent during 2009 to 370,500 units from 433,990 units last year. The average home price is expected to fall 5.2 percent to C$287,900 ($230,320) from C$303,607 a year ago.

Last week, data showed sales of previously owned Canadian homes plunged 41 percent in January from a year earlier while prices dropped 11 percent.

Looking to 2010, starts should rise a bit to 163,350 units, CMHC said, while home sales and prices are also expected to climb.

Sales of previously-owned homes are expected to rise by 9.3 percent to 405,000 units in 2010, and the average national home price may inch higher to C$288,100 from the forecasted 2009 level, CMHC said.

($1=$1.25 Canadian) (Reporting by Ka Yan Ng; Editing by Jeffrey Hodgson)

Given that sales will fall and listings will rise, the market will ease slightly over the coming year. Average resale prices will continue to increase, but more slowly than in recent years.

A higher proportion of condominium sales will take place in the suburbs and in the less expensive sectors on the Island of Montréal, which will contribute to limiting the growth in prices. For the market overall, prices will therefore rise by 4 per cent in 2008 and by 3 per cent in 2009. Still, on the whole, the market will remain favourable to sellers in the short term and gradually ease toward more balanced conditions in 2009.

Here is the break down of the report:

• Mortgage rates are expected to be relatively stable
• Resale market will be moderately slow
• Condominiums will maintain more demand than single family houses
• Supply of home listings with increase slightly.
• Affordable homes are expected to register increases in starts.
• Prices for single family homes and plexes will go up by an average 4 % in 2009
• Condo prices are expected to grow by 3%

Now, let’s take a look at the details…

Change of pace for the economy

In 2009, despite the anticipated decrease in residential construction, several nonresidential projects announced by the different levels of governments, such as the replacement of the Turcot Interchange and the modernization of Notre-Dame Street, will boost employment growth in the construction sector.
However, the level of activity in the manufacturing sector will moderate.

Mortgage rates are expected to be relatively stable

“Posted mortgage rates will decrease slightly in the first half of 2009 as the cost of credit to financial institutions eases. Rising bond yields, however, will nudge mortgage rates marginally higher in the latter half 2009.”

**Note: The Back of Canada already made cuts to the interest rates. Check the December 9th press release.
The next scheduled date for announcing the overnight rate target is 20 January 2009.

Resale market to slow moderately

The growth in prices will be slower for existing homes than for new homes, which will widen the price gap between them and consequently prompt more buyers to turn to the resale market.
While slightly less active, the resale market will still remain strong. The sales levels forecast for 2008 and 2009 will exceed the annual average of 39,000 transactions recorded for the period from 2002 to 2007.

Condominiums will maintain the upper hand

Condominiums—the only housing type that will register an increase in sales in 2008—will sustain a less significant decline in demand than single-family houses or plexes 2009.
Affordable housing types, such as condominiums, and homes located in less expensive geographic sectors, are managing better.

Slightly more supply on the market

This is good news, says Moishe Alexander

Montreal Listing Trends 2009

Currently, the supply of homes is growing. Listings started to rise again in the second quarter of 2008, and there is every indication that they will end the year up by 7 per cent over 2007. As well, we forecast that they will maintain this momentum in 2009, with an increase of 9 per cent. At the end of 2008, an average of 22,300 active listings per month will have been registered in the GMREB MLS® system for the Montréal CMA.

Affordable homes will again stand out

Overall, total starts will fall this year. However, the opposite will hold true for more affordable housing types, which are expected to register increases in starts. After having exploded in 2007, with a gain of 35 per cent, semi-detached and row housing starts will maintain their momentum this year and rise by 14 per cent to 2,200 units.

Condominium starts will increase, to a lesser extent.

In 2009, these two housing types will again stand out. Semi-detached and row home starts will stay at the same level as in 2008, while condominium starts will register a smaller decrease than the declines that will be recorded for single detached home building and rental housing construction. In all, 7,700 new condominium units will be started next year, or 4 per cent fewer than in 2008.

The downward trend in single detached home starts

Single Detached Housing Starts

It began a few years ago, will continue. Because these houses are more expensive, also because the population is aging and households are getting smaller, the need for more spacious homes is less significant than before.

OTTAWA, March 9, 2009 — The seasonally adjusted annual rate1 of housing starts declined to 134,600 units in February from 153,500 units in January, according to Canada Mortgage and Housing Corporation (CMHC).

“Increased listings and reduced sales in the existing home market continue to impact the new home market,” said Bob Dugan, Chief Economist at CMHC’s Market Analysis Centre. “The decrease in February housing starts is partly attributable to the volatile multiple starts segment. In any given month and given its relative importance, the volatility of the multiple starts segment can exaggerate monthly movements up or down in the rate of housing starts.”

The seasonally adjusted annual rate of urban starts decreased 14.9 per cent to 107,800 units in February. Urban multiple starts decreased 17.5 per cent to 63,300 units, while urban single starts fell 11 per cent to 44,500 units in February.

February’s seasonally adjusted annual rate of urban starts moderated in all of Canada’s regions except Atlantic Canada, where urban starts increased by 10.8 per cent. Urban starts fell by 19.6 per cent in Quebec, 14.4 per cent in Ontario, 19.4 per cent in the Prairies, and 12.8 per cent in British Columbia.

Rural starts were estimated at a seasonally adjusted annual rate of 26,800 units in February2.

New home construction is slowing to more sustainable levels and starts are forecast to come in at 160,250 units, within a range of 141,000 to 180,000 units in 2009. These trends are reflected in the year-to-date actual starts. These decreases, however, should be viewed in the context that housing starts have been exceptionally strong over the past 7 years, exceeding 200,000 units per year.

Moishe Alexander Says: As Canada’s national housing agency, CMHC draws on more than 60 years of experience to help Canadians access a variety of quality, environmentally sustainable, and affordable homes — homes that will continue to create vibrant and healthy communities and cities across the country.

For more info: http://www.cmhc-schl.gc.ca/en/corp/nero/nere/2009/2009-03-09-0815.cfm

Moishe Alexander’s Review:

KAMLOOPS, February 13, 2009 — A Kamloops builder and developer team made up of the Canadian Home Builders’ Association (CHBA) Central Interior Chapter, and Thompson Rivers University, has been chosen to build one of three new CMHC EQuilibrium™ Sustainable Housing Demonstration Initiative homes, the Honourable Diane Finley, Minister of Human Resources and Skills Development Canada (HRSDC) and Minister Responsible for Canada Mortgage Housing Corporation (CMHC) announced today.

In total, three builder and developer teams, including Kamloops’ CHBA and Thompson Rivers University (TRU) “Green Dream Home” team, have been chosen to build eco-friendly homes as part of the second phase of CMHC’s EQuilibrium™ Sustainable Housing Demonstration Initiative – a national project leading to the construction of the next generation of sustainable homes in British Columbia and Atlantic Canada.

“The Government of Canada is proud to work with the Kamloops’ builder and developer team to extend the EQuilibrium™ initiative to B.C.,” said MP Cathy McLeod, on behalf of Minister Finley. “As a champion of sustainable housing, the Kamloops builder and developer team, and the other builder teams participating in the EQuilibrium™ initiative, are putting their expertise to work for the benefit of Canadians and providing a blueprint for the next generation of sustainable housing in Canada.”

The “Green Dream Home” will be designed to have minimal environmental impact, aim to produce as much energy as it uses on an annual basis, and be built primarily by TRU students as part of their training program. Once completed, the home will be open for public tours and then raffled-off to raise funds for the local YMCA. When occupied, the home will be monitored for performance for at least one year.

“This was a natural next step for our Training House Committee to pursue,” said Doug Wittal, President of the CHBA Central Interior Chapter. “As an Association, we have been actively demonstrating and promoting green alternatives for housing for the past three years with our Built Green™ BC program. This project takes Built Green™ to a higher level than achieved to date.”

“We are extremely proud that Thompson Rivers University and our Trades and Technology students are part of the team chosen to build the Green Dream Home,” said Dr. Kathleen Scherf, TRU President and Vice-Chancellor. “This project encompasses elements that enable TRU to step forward as the university of choice for environmental sustainability, career success and student engagement.”

In addition to the “Green Dream Home”, the other two winning projects are:

The Harmony House (Burnaby, B.C.): a project by Habitat Design + Consulting and Insightful Healthy Homes Ltd.; and,

The Moncton VISION Home (Moncton, N.B.): a project by AlternaHome Solutions Inc. in partnership with Vision Land Development Ltd.

The EQuilibrium™ housing vision brings together, under one roof, the principles of occupant health and comfort, energy efficiency, renewable energy production, resource conservation, reduced environmental impact and affordability. CMHC originally launched the EQuilibrium™ initiative in May 2006 by inviting Canadian builders and developers to submit their visions for EQuilibrium™ demonstration homes. Six projects have since been completed and opened to the public for viewing. For more information on the EQuilibrium™ initiative and projects, visit www.cmhc.ca.

CMHC has worked closely with many stakeholders to develop and launch EQuilibrium™. In particular, CMHC has collaborated closely with Natural Resources Canada which has contributed substantial research and development expertise and resources to advancing the initiative.

As Canada’s national housing agency, CMHC draws on more than 60 years of experience to help Canadians access a variety of quality, environmentally sustainable, and affordable homes — homes that will continue to create vibrant and healthy communities and cities across the country.

For more info: http://www.cmhc-schl.gc.ca/en/corp/nero/nere/2009/2009-02-13-1430b.cfm

MONCTON, February 13, 2009 — A Moncton builder and developer team led by AlternaHome Solutions Inc. has been chosen to build one of three new CMHC EQuilibrium™ Sustainable Housing Demonstration Initiative homes, the Honourable Diane Finley, Minister of Human Resources and Skills Development Canada and Minister Responsible for Canada Mortgage Housing Corporation (CMHC) announced today.

In total, three builder and developer teams, including Moncton’s AlternaHome Solutions Inc., have been chosen to build eco-friendly homes as part of the second phase of CMHC’s EQuilibrium™ Sustainable Housing Demonstration Initiative — a national project leading to the construction of the next generation of sustainable homes in British Columbia and Atlantic Canada.

“The Government of Canada is proud to work with Moncton’s builder and developer team to extend the EQuilibrium™ initiative to Atlantic Canada, “said M.P. Tilly O’Neill-Gordon, on behalf of Minister Finley. “As a champion of sustainable housing, the Moncton VISION Home team, and the other builder teams participating in the EQuilibrium™ initiative, are putting their expertise to work for the benefit of Canadians and providing a blueprint for the next generation of sustainable housing in Canada.”

The Moncton VISION Home will integrate functionality, energy efficiency and renewable energy systems into its design and construction. Partners in the project include AlternaHome Solutions Inc., Vision Land Development Ltd., with the support of the City of Moncton, the Université de Moncton, the New Brunswick Community College and Efficiency New Brunswick. Once constructed, the VISION home will be open for public tours, and then monitored for performance when occupied.

“We are very pleased to have this opportunity to work with such an incredible team of individuals and organizations, all striving for one common vision — the vision of living sustainability in homes that are environmentally responsible.  Our goal is to lead, teach and inspire people and communities to take charge of their energy!” said Paul B. Arsenault, President, AlternaHome Solutions Inc.

In addition to Moncton’s VISION Home, the other two winning projects in British Columbia are:

The Green Dream Home: a partnership between the Canadian Home Builders’ Association (CHBA) Central Interior Chapter and Thompson Rivers University (TRU) in Kamloops, B.C.; and,

The Harmony House: a project by Habitat Design + Consulting Ltd. and Insightful Healthy Homes Ltd. in Burnaby, B.C.

The EQuilibrium™housing vision brings together, under one roof, the principles of occupant health and comfort, energy efficiency, renewable energy production, resource conservation, reduced environmental impact and affordability.

CMHC originally launched the EQuilibrium™initiative in May 2006 by inviting Canadian builders and developers to submit their visions for EQuilibrium™ demonstration homes. Six projects have since been completed and opened to the public for viewing. For more information on the EQuilibrium™ initiative and projects, visit www.cmhc.ca.

CMHC has worked closely with many stakeholders to develop and launch EQuilibrium™. In particular, CMHC has collaborated closely with Natural Resources Canada which has contributed substantial research and development expertise and resources to advancing the initiative.

As Canada’s national housing agency, CMHC draws on more than 60 years of experience to help Canadians access a variety of quality, environmentally sustainable, and affordable homes — homes that will continue to create vibrant and healthy communities and cities across the country.

For More Info: http://www.cmhc-schl.gc.ca/en/corp/nero/nere/2009/2009-02-13-1430a.cfm

Moishe Alexander Reviews:

VANCOUVER, February 13, 2009 — A team consisting of Vancouver’s Habitat Design + Consulting Ltd., a local design and consulting firm, and Insightful Healthy Homes Ltd. has been chosen to design and construct one of three new CMHC EQuilibrium™ Sustainable Housing Demonstration Initiative homes, the Honourable Diane Finley, Minister of Human Resources and Skills Development Canada (HRSDC) and Minister Responsible for Canada Mortgage Housing Corporation (CMHC) announced today.

In total, three builder and developer teams, including Vancouver’s Habitat Design + Consulting Ltd. “Harmony House” team, have been chosen to build eco-friendly homes as part of the second phase of CMHC’s EQuilibrium™ Sustainable Housing Demonstration Initiative — a national project leading to the construction of the next generation of sustainable homes in British Columbia and Atlantic Canada.

“The Government of Canada is proud to work with Habitat Design + Consulting Ltd. and Insightful Healthy Homes Ltd. to extend the EQuilibrium™ initiative to B.C.,“ said Senator Yonah Martin on behalf of Minister Finley. “As a champion of sustainable housing, the Vancouver design / build team, and the other teams participating in the EQuilibrium™ initiative, are putting their expertise to work for the benefit of Canadians and providing a blueprint for the next generation of sustainable housing in Canada.”

“Harmony House” will use a mixture of proven and leading-edge technologies to build a highly marketable, resource efficient, healthy, net-zero energy home.

“We’re extremely excited to be a part of the initiative.” says Chris Mattock of Habitat Design + Consulting Ltd. “The Harmony House will provide a healthy indoor environment for the occupants, have low environmental impact and will be less expensive to operate and maintain than a conventional home.”

In addition to ”Harmony House,” the other two winning projects are:

The Green Dream Home (Kamloops, B.C.): a partnership between the Canadian Home Builders’ Association (CHBA) Central Interior Chapter and Thompson Rivers University (TRU); and,

The Moncton VISION Home (Moncton, N.B.): a project by AlternaHome Solutions Inc. in partnership with Vision Land Development Ltd.

The EQuilibrium™ housing vision brings together, under one roof, the principles of occupant health and comfort, energy efficiency (including renewable energy production), resource conservation, reduced environmental impact and affordability. CMHC originally launched the EQuilibrium™ initiative in May 2006 by inviting Canadian builders and developers to submit their visions for EQuilibrium™ demonstration homes. Six projects have since been completed and opened to the public for viewing. For more information on the EQuilibrium™ initiative and projects, visit www.cmhc.ca.

CMHC has worked closely with many stakeholders to develop and launch EQuilibrium™. In particular, CMHC has collaborated closely with Natural Resources Canada which has contributed substantial research and development expertise and resources to advancing the initiative.

As Canada’s national housing agency, CMHC draws on more than 60 years of experience to help Canadians access a variety of quality, environmentally sustainable, and affordable homes — homes that will continue to create vibrant and healthy communities and cities across the country.

For more info: http://www.cmhc-schl.gc.ca/en/corp/nero/nere/2009/2009-02-13-1430c.cfm