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Tuesday, July 5th, 2022

CMHC admits ‘data gap’ in foreign ownership of Canadian real estate

The president of Canada Mortgage and Housing Corp. acknowledges there may be a “data gap” when it comes to the degree of foreign ownership in the marketplace, as debate swirls over whether overseas buyers are inflating house prices in markets like Vancouver and Toronto. Tracking foreign buyers in Canada’s housing boom: Can we do it? […]

Housing still cheaper in popular U.S. snowbird states than 2006 peak levels, new report shows

TORONTO – Housing prices in popular U.S. snowbird destinations are rising but are still below peak levels seen in 2006, says a new report. The outlook by BMO Financial Group says overall, housing prices in the U.S. have increased by 20% in the last two years, but are only about halfway to the peak levels […]

No matter what statistics show, Canada’s housing boom is about to end, experts say

October 23, 2014 by  
Filed under Recent News

It might be hard to convince some Canadians the end of the housing boom is near based on new statistics from the Canadian Real Estate Association which show prices still rising.   Marriages, of course, get into trouble for all kinds of reasons, and rarely are they simple ones, but divorce lawyers and those in […]

Spending on renovations outpaces new home construction

More money was spent renovating homes in Canada than building new ones during the 12 months to the end of June, according to data compiled by the Bank of Montreal. “In the four quarters through [the second quarter], renovation activity outpaced investment in new residential construction $48.4-billion to $46.3-billion, as the latter has rolled over […]

Canadian home sales fall for first time in nine months

OTTAWA — Sales of existing homes cooled in September as they fell 1.4% on a month-over-month basis, the first monthly decline since January, the Canadian Real Estate Association said Wednesday. The association said sales through its Multiple Listings Service were down in about 60% of all local housing markets last month. CREA president Beth Crosbie […]

We’re paying off mortgages faster than thought

TORONTO – A new report suggests that Canadian homeowners are paying down their mortgages faster than they’re being given credit for. CIBC deputy chief economist Benjamin Tal says homeowners are taking advantage of record-low interest rates to accelerate their mortgage payments, and shorten their amortization periods. The CIBC World Markets study says that homeowners are […]

Scotiabank’s Porter Calls Canada Bubble Fears Overblown – Ask a Vancouver Mortgage Broker

Canadian concerns about a housing bubble are overblown in a country where credit growth is modest and the job market is stable, says Bank of Nova Scotia Chief Executive Officer Brian Porter. “Bubble is perhaps the most overused word since the global financial crisis,” Porter said in an interview yesterday in Washington, referring to Canada’s […]

Could targeted land transfer taxes cool Canada’s hottest markets?

Ontario’s real estate association has launched an ad campaign to explain why they believe land transfer taxes hurt the economy. But in a hot housing market, could the tax be used to cool particular regions, such as Toronto and Vancouver? Officials in Ottawa have made it clear they see no need to cool the market […]

What to do when there’s more value in your house than your marriage

He’s a one-percenter. He’s got the high-powered job, a vacation property and a $1.5-million detached home in the heart of midtown Toronto. About a decade ago, he and his wife were fortunate enough to get their foot into the housing market when it was still relatively sane — paying roughly half what the place is […]

Getting a divorce? Here are four things to consider before selling your real estate

About 70,000 Canadian marriages end up in divorce every year. It’s an emotional decision that is almost impossible to decouple from the financial implications that follow. Financial planners often say divorce is one of the worst decisions you can make, at least from a personal finance point of view. We know that, in general, married […]

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