Tips for First Time Home Buyers
Buying a home can be a long, complicated and frightening process, and it is important to be prepared. Knowledge is power when it comes to negotiating the difficult world of home prices, interest rates and mortgage loans. For a first time home buyer, there are many factors to consider before you buy. The more information you can gather before you start shopping, the better off you will be.
Look Beyond the Price
When it comes to securing a quality mortgage loan, it is important to look beyond the interest rate to the true cost of the loan, both now and in the future. Read the paperwork, including the fine print, carefully, especially if the interest rate is below market rates. Upon closer inspection you may find that the interest rate is guaranteed for only a short period of time, or that it is subject to rise sharply in the future. Your mortgage loan may be the most important contract you will ever sign, and it is essential that you understand your rights and your responsibilities before signing on the dotted line.
In many cases it will make sense to hire a lawyer to review the mortgage paperwork for you. Many communities provide some sort of first time homebuyer program designed to help renters become homeowners, and these organizations may be able to provide the legal advice you need at a price you can afford.
Every Situation is Unique
Every homebuyer will have a different set of circumstances, and it is important for the lender to consider those factors. Some homeowners may plan to move in a year or two, and they may be able to benefit from a variable rate mortgage. Others will plan to remain in their home for decades, and those home buyers may benefit from the stability of a fixed rate mortgage and its predictable and stable monthly payment.
It is also important for those buying a first home to factor in the additional costs of the mortgage when deciding how much they can afford to pay. Things like closing costs and the high price of private mortgage insurance can drive up costs and eat into funds that would otherwise be available for home improvements, furnishings and other essentials. In some cases sellers may be willing to pay some of the closing costs, and some lenders will be able to negotiate those closing costs downward. The key is to ask those questions before the closing date arrives, and to be prepared to search for a better deal if necessary.
First time buyers should also be on the lookout for any hidden fees. These small nuisance fees can add up to hundreds of dollars on closing day, so be sure to scour your paperwork for any such fees. If you are unsure about the legitimacy of any charge be sure to ask for a valid explanation. Again, an experienced real estate lawyer can provide valuable insight into which fees are reasonable and which are out of bounds.
And of course first time home buyers should not lose sight of the home itself in the quest for the perfect mortgage. Any defects should be pointed out to the seller well before the closing is to take place. The costs of every needed repair should be carefully negotiated prior to the purchase, and buyers should always follow up to make sure that all requested repairs have been made. A home is a major purchase, and it is important to make sure that everything has been taken care of before moving in.
Personal information now manditory
Realtors required to confirm the buyer’s ID.
Canadian realtors are bracing for a customer backlash starting today, as they become new foot soldiers in the battle against money-laundering. Federal regulations that kick in today will force realtors to start asking property sellers and buyers personal information never before required.
In Ontario alone, 47,000 realtors will be expected to fall in line or face stiff penalties. “We know there is going to be consumer rejection on this and we are just following the law,” said Gerry Weir, a London realtor and president of the Ontario Real Estate Association (OREA).
Realtors will be required to ask for the name, address, date of birth and occupation of property buyers and sellers, plus ID such as a driver’s licence or passport.
Weir said Ottawa has made little effort to educate people about the changes, and realtors feel they’re being forced into an uncomfortable enforcement role. He said realtors will have to keep the information for seven years and submit it on request to the Financial Transaction and Reports Analysis Centre of Canada (FINTRAC), a federal agency set up to track suspicious transactions that could be related to money-laundering or terrorism.
If the buyer is foreign or from another part of Canada, the real estate broker will be required to hire an agent in the buyer’s community who can confirm the buyer’s ID.
If a client refuses to disclose the information, Weir said, a realtor would have to walk away from the deal or report the person to FINTRAC.
“Even if I have known you for 30 years, I still have to ask for that information,” he said.
Weir said it could get even worse.
He said Ottawa also wanted to require a receipt-of-funds record, with information on anyone who actually supplied money for sales, including relatives or friends.
Weir said the government backed down on that, but he expects it will only be temporary.
“That is the next step; that will happen,” he said.
FINTRAC officials appear confused about the new rules.
Spokesperson Peter Lamey at first said one piece of ID was needed from buyers and sellers, and information such as date of birth and occupation wouldn’t be required.
He later said the information wouldn’t only be required from buyers and sellers, but also from anyone who contributed money to a deal as part of the receipt of funds record, contradicting Weir’s belief that Ottawa had backed down on that provision.
Negotiations on the rules were handled by the federal Finance Department and not FINTRAC, Lamey said.
Boomers at home in Forest Hill
Older age group is growing fastest in luxury neighbourhood
For decades, analysts have been talking about the impact of Baby Boomers on everything from consumer preferences and health care needs, to labour markets and housing demand. The strength of the condominium market, in particular, has been a testament of this process as adult children of Baby Boomers have been leaving home as first-time condominium buyers or renters, and as the empty nester parents themselves have been trading in their large homes for a condominium lifestyle. However, the challenge for many empty nesters has been to find luxury condominium apartments in their current neighbourhoods where they have lived for decades.
A look at the Forest Hill and Chaplin Estates neighbourhoods in midtown Toronto, generally known as the area south of Eglinton, between Bathurst and Yonge Street, and north of Lonsdale Road (census tracts 129, 130 and 131), provides a good snapshot of an ageing population whose housing needs are changing.
According to the latest 2006 census data, there were 13,965 residents living in the Forest Hill and Chaplin Estates area — only 0.7% higher than 2001 when there were 13,870 residents living in the area. The population is distributed relatively evenly by age group — 29% are children and youth (under 24 years); 30% are young professionals (25 to 44 years); and 29% are older professionals (45 to 64 years), reflecting the predominance of families. Seniors over 65 years make up 12% of the population, which is slightly lower than the city of Toronto. However, compared with the 2001 census, the leading edge of Baby Boomers (55 to 64 years) were the fastest-growing age group increasing in numbers by 25.9%, followed by their younger children aged 15 to 24 years (17.5% increase). Not surprisingly, the largest decrease in population (-12.4%) occurred among the 25-to 34-year-olds who moved out of their parents’ homes during this period.
The prevalence of families living in Forest Hill and Chaplin Estates is also evident in the marital status data (of individuals over 24 years), which showed a 10.9% decrease in the number of single residents, compared with a net increase in married and common-law couples. Even the number of separated and divorced residents fell by 4%, compared with a city of Toronto trend toward more “marriage casualties” (6.2% increase from 2001 to 2006). Similarly, the number of one-and two-person households fell, while the number of three-plus person family household increased — again, contrary to the city of Toronto trend toward smaller household sizes.
Forest Hill and Chaplin Estates are also very stable neighbourhoods in terms of housing stock, with virtually no new residential homes constructed from 2001 to 2006, apart from some new homes built to replace older teardowns. More than 60% of current residents were also living in the area during the 2001 census, so it is not surprising that only 22% identified themselves as immigrants, compared to nearly 50% for the city of Toronto, and only 3% of residents immigrated most recently from 2001 to 2006. The majority of immigrants living in Forest Hill and Chaplin Estates originally emigrated from Europe (30%), United States (18%), South America (16%) and Southeast Asia (15%).
The latest census data also reports that Forest Hill and Chaplin Estates are relatively affluent neighbourhood with a lower-than-average unemployment rate, around 2.9% in 2006. Its residents are well educated — 70% have a university degree (including 19% with a post-graduate degree), and most are working in higher-paying occupations such as: management (21%); business, finance and administration (20%); and law, education and government (17%). As such, more than 46% of households reported earning over $100,000 per annum in 2005 and the average annual household income was around $246,000 — among the highest in Toronto.
Canada’s housing market cools
Resale price growth lowest in seven years
The Canadian real estate market is being flooded with homes, causing prices to start falling in some key markets, according to the Canadian Real Estate Association. The average price of a home sold last month in the country’s top 25 markets was $337,071, an all-time record. But that record price was only up 1.1% from May, 2007 — the smallest year-over-year increase in seven years.
“The record number of new listings means more opportunities for buyers,” said Gregory Klump. chief economist with CREA. “The resale housing market has evolved in just a few short months.”
CREA said there were 67,628 new units on the market in May, a 7% jump from last year. It was the second straight month that a record number of houses has gone on sale.
The impact on prices is being felt most keenly in Alberta. The average price of a home sold in Calgary last month was $418,881, a 2.4% drop from a year ago. Edmonton sale prices averaged out at $340,499, down 4.8% from a year ago.
Unit sales in both Alberta cities are also plummeting. Calgary homes sales were off 34.2% from a year ago while Edmonton sales were down 34.8% during the same period.
The home sales are dropping across the country. CREA said on a national basis sales were off 16.9% in May from a year earlier.
Recreational property markets
After an extended period of extraordinary growth, more balanced market conditions have emerged in recreational property markets across the country, according to a report released today by Re/Max The Re/Max Recreational Property Report found that a substantial increase in the supply of recreational properties listed for sale, combined with fewer buyers overall, characterized most recreational markets this year. Of the 45 markets surveyed, 91 per cent (or 41 markets) were in the transition stage, moving from strong sellers into balanced market conditions.
The only exceptions were Salt Spring Island, two markets in Saskatchewan—Last Mountain Lake and Qu’Appelle Lakes and Lakes Candle, Emma, and Waskesiu — and Newfoundland’s East Coast —where inventory levels were relatively low. Affordability was a primary factor in 35 per cent of markets surveyed, given serious upward pressure on recreational values in recent years.
“Market conditions have shifted, but don’t expect to see bargain basement prices or fire sales,” says Michael Polzler, Executive Vice President and Regional Director, Re/Max Ontario-Atlantic Canada. “The recreational market continues to experience solid demand — a trend that is expected to continue throughout 2008. The influx of new listings has yet to translate into downward pressure on recreational property prices. Prime waterfront properties, while more plentiful than in year’s past, will still command top dollar.”
Adverse winter weather conditions during the first four months of the year hindered recreational activity. Sixty-seven per cent of markets reported softening in the number of sales year-to-date, while average prices remained stable or experienced moderate increases over 2007 levels for the same period. Economic concerns, fueled by negative GDP growth in the first quarter and soaring energy costs, have also played a role in the transitioning market.
“We’re coming off the longest period of economic expansion since World War II,” says Elton Ash, Regional Executive Vice President, Re/Max of Western Canada. “Recreational property values have appreciated beyond our wildest dreams across the country. More balanced market conditions are a welcome change for purchasers.”
For the first time in many years, in fact, a good selection of entry-level waterfront is available in markets across the country. Eighteen per cent of those surveyed offer properties under the $200,000 price point, including; Central South Cariboo in British Columbia; Parry Sound, East Kawarthas and Kingston in Ontario; Summerside, PEI; South Shore, Nova Scotia; Shediac, New Brunswick; and the East Coast of Newfoundland.
Recreational property buyers also found themselves divided between two borders this year. The housing market meltdown in the US combined with a Canadian dollar at par created serious investment opportunities for secondary properties in Florida, Arizona, Texas, and California. Some of those very same factors have spurred American recreational property owners in Canada to list their properties for sale, with many looking to take advantage of ideal market conditions here.
“Many Canadians are capitalizing on market conditions in major American centres,” says Polzler. “For some purchasers, the move is strictly a short-term investment strategy with a pay-off at the end of the day, while for others, retirement is the main objective.”
The report also found that younger buyers were a factor in 40 per cent of recreational markets surveyed. “Baby boomers are clearly not the only purchasers that appreciate the recreational lifestyle,” says Ash. “Generation X is quickly becoming a force in the marketplace, spurring demand for condominium product on ski hills, oceanfront properties in good surf locales, and water frontage on trendy lakes with celebrity residents.”
Other highlights:
- Alberta’s red-hot economy has helped boost recreational property markets in British Columbia, Atlantic Canada, and some parts of Ontario.
- Affordability is prompting buyers to consider back lots, riverfront, condominiums, hobby farms and leased land.
- Some purchasers looking to secure an exit strategy are buying recreational properties or secondary homes in residential neighbourhoods in close proximity to the water’s edge.
Toronto Commercial Real Estate
More than 700,000 Square Feet Leased In May
Toronto Real Estate Board Commercial Members reported 717,361 square feet of leased space through the TorontoMLS system in May, Commercial Council Chair Garry Lander announced today. This figure is down 27 per cent from the 990,715 square feet recorded in May of 2007. “Thus far in 2008 there has been more than four million square feet of space traded through the MLS® system,” Mr. Lander said.
Prices for leased industrial space (all size categories) averaged $6.08 sfn in May, down one per cent from the figure of $6.14 sfn recorded during May of 2007. Prices for commercial space in all size categories averaged $14.43 sfn, a nine per cent decline from last May.
Sales Market Highlights
Toronto Real Estate Board Commercial Members reported 60 sales of Industrial/Commercial properties in May of 2008. Of these, 36 were Industrial properties of all size categories, which sold for an a average of $95.93 per square foot. This compares to a figure of $100.29 per square foot from non-MLS® sources, due to the sale of a number of unusually expensive industrial buildings last month.
See full Toronto Real Estate Commercial report »
Competition Bureau’s inactivity
Canada’s Competition Bureau just got a report card that it may not want to show its parents. The Global Competition Review, published by Britain’s Law Business Research Ltd., has maintained Canada’s 3½-star “good” rating, but warned that the regulator’s performance slipped last year after its reputation “appears to have faltered.”
The problem? Despite additional staff, the report said the bureau’s overall level of activity and timeliness “appears to have slumped over the past few years.” Citing anonymous authorities in the competition bar, academics and economists, the report said critics complain that the bureau’s “strong” emphasis on policy work and international issues may be “eating up too much of the bureau’s resources.”
Key points of concern cited are: a decline in cartel fines to $7.9-million last year from $39-million in 2006, a “scant” record of enforcement against companies that abuse their industry dominance and declining efficiency in its reviews of mergers that trigger competition reviews. The report, which ranks the world’s leading competition regulators, credited the bureau for its work on an alleged cartel in the chocolate industry. But it chided the Ottawa regulator for its drawn-out reviews of the Labatt Brewing Co. Ltd. merger with Lakeport Brewing Co. Ltd. and its two-year-old abuse-of-dominance probe of sugar makers.
A bureau spokesman said he agrees with the review’s finding that criticism reflects a “perception problem.” The facts, however, dispute the public image, he said, noting that in the past year the regulator has closed more abuse-of-dominance cases and launched more cartel cases than during the previous 12 months.
We’ve been hearing for over a year now that the Competition Bureau is investigating the real estate industry and their MLS cartel which controls the Canadian real estate industry but to date no results.
Ontario housing starts down
Developers are seeing fewer people at their model homes and the Ontario Home Builders’ Association said yesterday that the province’s uncertain economic prospects are likely to blame. “The general economic slowdown and declining consumer confidence in Ontario is starting to be felt by home builders, who are reporting slower traffic,” OHBA president Mark Basciano said yesterday. “If consumers aren’t confident about their jobs or their investments they aren’t likely to be looking to purchase a new home.”
While Canadian housing starts were up by 3.5 per cent nationally to a seasonally adjusted and annualized 221,300 units, Ontario was the lone province that saw a decline in May, according to figures released by the Canada Mortgage and Housing Corp. yesterday.
Starts slipped by 7.4 per cent to a seasonally adjusted 67,600 units.
“A slowing economy, rising mortgage carrying costs and more balanced resale markets will dampen the pace of new home construction through 2008,” CMHC economist Ted Tsiakopoulos said.
In the Toronto area, which accounts for more than half the provincial total, starts were down 3.3 per cent to 36,800 units. The downswing was mostly due to a decline in the more expensive single detached home starts, the CMHC said. “Rising house prices continue to shift demand away from single detached homes towards less expensive condominum apartments,” said CMHC senior market analyst Dana Senagama.
Thanks to record sales of condominiums in 2007, housing starts are still up by 33 per cent on an unadjusted year-to-date basis in the Toronto area.
A solid gain of 24 per cent for building permits in the Toronto area for April attributable to condominium sales should also ensure starts for highrise buildings remain strong this year.
“A backlog of apartment sales commencing construction will keep starts elevated this year,” said Tsiakopoulos. But those numbers are being tempered by a slowdown in the detached home segment – which most buyers have traditionally preferred.
Last year, for the first time, condominiums edged out houses for a greater than 50 per cent share of the Toronto new home market.
Builders don’t sound worried about housing starts for this year, which are cruising on momentum from 2007. But the outlook for next year appears less certain.
“We are cautiously optimistic for the remainder of 2008, however 2009 and 2010 will be a concern for home builders if the overall provincial economy doesn’t show signs of improvement,” Basciano said.
Toronto home sales in decline
Tough economic times and dwindling affordability hit Toronto market
Warmer weather is failing to heat up the Toronto area housing market as it was hit with the fifth consecutive month of declining year over year sales since the start of the year. Existing-home sales in May plunged 16 per cent to 9,411, compared with 11,146 a year earlier, according to figures released yesterday by the Toronto Real Estate Board.
Many analysts had expected pent-up demand left over from the spring market, when buyers were hampered by slush and snow. But April and May have not brought encouragement to realtors.
“With economic uncertainty, people become more cautious,” said Pascal Gauthier, an economist with TD Bank Financial Group.
Manufacturing has been hit hard in Ontario, with General Motors announcing this week that the Oshawa truck plant will close next year. The planned move was just one in a string of bad news announcements that have damaged consumer confidence.
Sales are also down because potential owners are being priced out of the market, Gauthier said.
“Affordability has also been a big issue in the Toronto market, especially when you have a situation where house prices start to outpace incomes,” said Gauthier.
One-third of households in Toronto spent 30 per cent or more of their incomes on shelter in 2006, according to figures released yesterday by Statistics Canada. That was the highest figure of all urban areas in Canada. StatsCan also said the province as a whole had the highest shelter costs in Canada for both owners and renters.
“Affordability is the big factor crimping demand moving forward,” said Gauthier.
More people own their homes in Ontario than ever before, but the homeowners also have a lot more debt, according to the federal agency.
“Those who spend more than 30 per cent or more of their household income on shelter may do so by choice, or they may be at risk of experiencing problems related to housing affordability,” said Statistics Canada.
In Ontario, levels of home ownership are rising dramatically, helped by the low-interest-rate environment of the past decade.
Seventy-one per cent of households own their own homes, up significantly from 67.8 per cent five years earlier.
The proportion of households with mortgages also jumped in that time frame, to 59.1 per cent from 57.9 per cent.
The latest figure was the highest since 1981, when a flood of baby boomers was entering the housing market.
“With the aging population … the percentage of households with mortgages could be expected to decline and the percentage that are mortgage-free could be expected to rise,” StatsCan said.
“Instead the reverse occurred.”
This could be because of a large portion of renters moving into home ownership, but also because people are more willing to take on debt for such things as financing renovations or other big purchases.
Canada had $833 billion in outstanding mortgage debt as of February of this year.
Placing some downward pressure on prices in the Toronto market is more inventory in the form of new listings, which rose a significant 15 per cent in May.
Economist Gauthier, however, cautioned that the overall weak numbers for the Toronto market may look bleaker than the reality because sales are coming off the record highs of 2007.
“Depending on how well the economy does, there is a risk that it would unwind in a disorderly fashion. But what you are seeing right now is a cooling. It’s not coming off the tracks.”
Prices are still appreciating because sales still remain at historically lofty levels, even though they’re not now as high as they have been. The average price in May was $398,148, up a moderate 4 per cent from May of 2007.
The Toronto Real Estate Board said it is continuing to monitor sales declines in the city of Toronto after a controversial land transfer tax was implemented this year, adding further to the cost of buying a home.
The number of sales was down 19 per cent in May, compared with 13 per cent in the 905 region, the board said.
“The Toronto land transfer tax has been in effect for four months, and the decline in sales has been running for the same time period,” said board president Maureen O’Neill.
Home ownership at record levels
Canadian mortgage debt headed to $1-trillion mark
Never before have so many Canadians owned homes. And never before have they owed so much for the privilege.
Interest rates at or near historical lows combined with low unemployment and recent changes that allow people to buy houses with less money down and pay off mortgages over longer periods resulted in 68.4 per cent of Canadians in the housing market in 2006.
That’s up from 65.8 per cent in 2001 and 60 per cent in 1971, according to the latest Statistics Canada data.
The increase comes despite the fact that the cost of housing in many cities across the country has gone through the roof, outstripping inflation by far, while median incomes have essentially flatlined.
“Low mortgage rates have helped offset much, but not all, of the impact of rising house prices in recent years on mortgage debt-service costs,” said Bertrand Recher, a senior economist with Canada Housing and Mortgage Corp.
The overall result has been a small increase in the percentage of Canadian homeowners who spend more than 30 per cent of their gross income on shelter costs, according to Statistics Canada census data.
But latest CMHC figures show a sharper spike in mortgage-carrying costs in terms of after-tax income.
In 2007, average household spending on monthly mortgage payments had reached 37 per cent of after-tax income, up from 32 per cent in 2006.
“That’s significant - mortgage carrying costs are increasing,” said Recher.
“This burden is heavier on the shoulders of first-time buyers because they don’t have the equity.”
Most analysts, however, see little comparison between the Canadian housing market and its American counterpart, where hundreds of thousands of homeowners suddenly found themselves in way over their heads, creating a financial meltdown.
Canadian financial institutions jealously guard the number of mortgage defaults they endure. But among the country’s big banks, only about 0.27 per cent of homeowners were three months or more in arrears on their payments.
“Anecdotally, we are not seeing any rise in arrears or defaults across the country,” said Jim Murphy, president of the Canadian Association of Accredited Mortgage Professionals, an organization that speaks for mortgage lenders.
“Canadian underwriting standards by lenders and mortgage insurers are much more thorough than they are in the United States. Canadian lenders are much more conservative.”
One key factor in the rise of home ownership is the relatively new option of mortgages amortized over 40 years.
Paying off loans for homes over a longer period means much higher total interest costs, but lower ongoing monthly payments. The effect is increased affordability. Growth in such long-term mortgages has been nothing short of dramatic, figures show.
Between the fall of 2006 and fall 2007, 37 per cent of all mortgages carried amortizations longer than 25 years, up from nine per cent in the preceding period.
“Clearly they’re very popular,” said Murphy, adding that not only first-time buyers are opting for the new choice.
One real estate analyst who disagrees with the rosy assessment of the Canadian market is Liberal MP Garth Turner, who argues too many people, especially younger buyers, are taking on too much debt to buy into the housing game.
Low interest rates coupled with 40-year amortizations and negligible downpayments might make it easier to buy higher priced homes, but it’s also leaving buyers vulnerable, Turner says.
“The inevitable conclusion is that the current Canadian real estate market is floating on a sea of unrepayable, and perhaps unserviceable, debt,” Turner maintains in his book, “Greater Fool.”
Collectively, it is a lot of debt.
In total, Canadians owe an amount fast approaching $850 billion on their homes, more than double what it was a decade ago, with percentage growth in double digits in recent years.
If trends continue as expected, the value of all outstanding mortgages will surpass the $1-trillion mark sometime toward the end of next year.
The federal government is keeping a close eye on the developments, according to Finance Minister Jim Flaherty.
“We have been monitoring the mortgage market, as we do, and we’ve seen a trend toward longer amortizations and smaller down payments, and that is a matter of some concern,” Flaherty said recently.
“We’re continuing to watch that.”
Mortgage insurers, who take care of defaults, have also tightened their criteria.
Still, any concerns over the situation appear, at least for the moment, to be outweighed by more positive views.
Overall economic conditions remain healthy in Canada, with unemployment close to historical lows, Recher noted.
In addition, the forecast is for the rapid growth in house prices to moderate substantially while interest rates are expected to remain relatively stable, at least over the next year or two.
Adrienne Warren, a senior economist and manager with Scotiabank, said easier access to mortgages certainly make the economy more vulnerable, but it would take a sharp spike in interest rates - she estimated five percentage points - coupled with a general economic downturn to see people in danger of losing their homes.
“Given that the lending criteria has been relatively benign in terms of growth and inflation and interest rates, I’m not really overly concerned with this one segment of the market.”
One group blissfully unconcerned about rising carrying costs are those aging baby boomers who have paid off their mortgages, a group that has grown in recent years.
More than 42 per cent of all homeowners hold no mortgage at all, according to Statistics Canada.
Many longtime owners have taken their equity and downsized to condos, joining the flood of first-time buyers who have gained their first toe-hold in the world of home ownership by entering the relatively affordable condo market.
About 10 per cent of households are now in condos, a tripling in 25 years.
“There’s been quite an increase . . . in the percentage of owner-households that are in condos,” said Willa Rea, senior analyst with Statistics Canada.
“There’s a good deal of young people buying in and becoming homeowners. We’ve seen quite an increase there.”
While shelter costs for homeowners have risen, they remain higher than those for renters. Roughly 40 per cent of renters spend 30 per cent or more of their income on shelter.
“That hasn’t changed,” said Rea. “It’s pretty stable there.”
The analysis released Wednesday is based on census data collected more than two years ago. The next census will be taken in 2011.