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Cedarglen acquisition expands Anthem's homebuilding presence
Anthem expands homebuilding presence with acquisition
The acquisition of Calgary homebuilder Cedarglen Homes by real estate investor, developer and manager Anthem Properties is a strategic decision to expand its presence in the sector, according to Anthem’s founder and CEO Eric Carlson.
ECN Capital finds backer manufactured homes business
Toronto-based ECN Capital Corp. spent 2023 repositioning itself as a champion of affordable housing by striking a partnership with Skyline Champion Corp. The Mich.-based home builder has invested $185 million in ECN for a 19.8 per cent ownership stake.
Federal foreign buyer ban on Canadian homes extended
A federal ban on most foreign ownership of Canadian housing is being extended to 2027. The extension means Toronto's efforts to raise millions in new revenues through a foreign home buyers tax may not raise as much as expected.
Overseas houses with a pool are available for $300,000
Condos in Thailand and other exotic locales priced for less than $150,000, make it easy to understand the appeal of buying a home abroad. The national average price for a Canadian home was $657,145 in December 2023.
A record high number of new condos go unsold in GTA
Faltering pre-construction condo sales and a record high inventory of unsold suites across the Greater Toronto Area (GTA) could spell doom for Ontario's planned housing boom, according to Urbanation's 2023 fourth-quarter condo market survey.
The problem of owning a pre-construction home or condo
A common problem today for would-be buyers of pre-construction homes or condominiums is when the property values have dropped, interest rates have jumped to make financing impossible, and reselling at a loss in a depressed market is not realistic.
Northern Ontario real estate empire files for insolvency
A sprawling real estate investment enterprise in Northern Ontario run by a former child actor has filed for creditor protection as it struggles to pay off debts of $144 million, largely from hundreds of individual private lenders.
High interest rates not to blame for housing crisis: Macklem
Bank of Canada governor Tiff Macklem says the central bank can't solve the housing crisis with interest rates because the root cause is a supply shortage. Macklem faced multiple questions on housing affordability during an appearance before the finance committee.
Riskier mortgages are 20 per cent of most big bank portfolios
Four out of Canada’s six big banks offer a mortgage that experts warn exposes them to higher risk of defaults, with fixed-payment variable mortgages accounting for at least a fifth of mortgages held at those institutions.
Getting mortgage payments on track before renewal day
Some 80 per cent of mortgages taken out in 2022 will be up for renewal in 2024, and nearly all of those mortgages will renew by 2026. Experts say its time to make sure you’re in good standing with lenders.
Housing policy misses the resale-new homes split: economist
OPINION: Vancouver’s housing crisis is exacerbated by federal policies that created increased demand for mortgage debt and resale housing according to senior economist David Williams, who is currently president of the Association of Professional Economists of B.C.
Homebuyers in Canada won't wait for rates to go down
Buyers in Canada are starting to venture back into the housing market, seeking to get ahead of any possible shopping frenzy due to interest rate cuts. A sales rally in December has stoked speculation the housing market may heat up.
High-profile businessperson buys Ottawa mansion for $5M
A modern mansion at Dow’s Lake has sold for $5 million, making it Ottawa’s highest-priced luxury home sale over the past 12-month period. The Ottawa Business Journal has learned the home has been bought by a high-profile businessperson.
B.C. receives failing grade as red tape snarls construction
Bathroom and kitchen renovations are among the most popular home improvement projects, and also among those delivering the best value according to the Appraisal Institute of Canada. Improving bathrooms and kitchens will be largely recovered at the time of sale.
Regular families will never again buy houses in Toronto
Toronto has had a housing crisis of one form or another for decades. But in the past two years, interest rates climbed, in-migration soared and wages stayed flat, the scope and scale of that crisis has grown in unprecedented ways.
Calgary takes ownership of Eau Claire townhouse complex
People who live in what is now the doomed River Run townhouse complex in Eau Claire are facing more tough decisions after the latest offer from city hall. The city will soon demolish them for the Green Line LRT megaproject.
Average price of a Calgary home rose 13% year-over-year
Inventory levels remain low in Calgary’s housing market, even with a rise in new listings in January, according to the Calgary Real Estate Board. Sales rose to 1,650 units, a significant gain over last year’s levels and long-term trends.
Feds decline Windsor's less 'ambitious' housing proposal
Windsor's bid for up to $70 million in federal housing funding is over. Federal housing minister Sean Fraser says Windsor's application wasn't as ambitious as many others because it will not allow four units by right in residential areas.
Quebec's housing crisis is only getting worse: federal report
Quebec's vacancy rates are at their lowest in 20 years, according to a Canada Mortgage and Housing Corporation report. In Montreal, vacancy rates in January 2024 were at 1.5 per cent, down from two per cent in 2022.
N.S. home sales fell in 2023 with limited choice, high prices
Data from the Nova Scotia Association of Realtors said 10,333 units were sold in the province in 2023, down 17.2 per cent from 2022. In December alone, home sales were 25 per cent below the five-year average for that month.
Industry Events
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Canadian Home Building Association: National Fall Meetings
Oct 21 2024
to Oct 25 2024
Ottawa, Ontario
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