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CHBA, Built Green Canada unveil housing award finalists
CHBA, Built Green Canada unveil housing award finalists
The Canadian Home Builders’ Association (CHBA) and Built Green Canada have announced the finalists for their awards commemorating standout new homes and innovators in sustainable builds. Winners will be announced on May 10, 2024 in Saint John, N.B.
New home construction up 14% in Feb. from Jan.: CMHC
New home construction starts climbed 14 per cent in February compared to January, according to CMHC, but the industry continues to struggle under cost pressures. Seasonally adjusted housing starts were 253,468 units in February, compared with 223,176 in January.
House flipping surges in Calgary's red-hot market
House flipping in Calgary has surged to the highest level of any major city in Canada. The latest Bank of Canada statistics show 6.5 per cent of homes sold in the Calgary area were resold within 12 months.
Some Calgary condo owners cashing out, others climb in
Addie Laratta plans to list her Calgary condo. She has been holding on to the property since 2018, as she first acquired the condo at the height of 2014 for about $325,000, shortly before Calgary’s economic downturn.
First-time buyers expected back in Toronto spring market
Over the past several weeks, Toronto-based realtor Grace Chan has suddenly received calls from people she tried to help two years ago: first-time homebuyers. It's a segment of the market that was noticeably absent last year.
B.C.'s Lower Mainland presale market heating up in 2024
A promising presale market in Metro Vancouver and Fraser Valley is sparking optimism among real estate buyers. Three presale projects launched in January, increasing to six in February, according to MLA Canada, which predicts 23 new projects in 2024.
Montreal grants a respite to real estate developers
To try to stimulate residential construction, Montreal is suspending for two years part of the contributions that developers must pay for social housing, which can represent a saving of $3,000 to $4,000 per door for a big project.
Owners liked the laneway home so much, they moved in
The Wilkinsons had big plans for their home and living there. Then they fell in love with their new laneway house. Now they're happy with life in their new place. Jeff Wilkinson is owner of Garden Laneway House in Toronto.
Insurers, claimants strained by weather events in B.C.
Arctic winds swept across Western Canada in mid-January, setting a new record for energy usage in B.C. It also led to more than $180 million in insured damages in B.C., Alberta and Saskatchewan, the Insurance Bureau of Canada says.
Rural Ont. homeowners face sky-high insurance increases
Homeowners living just outside of Carleton Place, Ont. say they have been slapped with exorbitant home insurance increases of 30 to 50 per cent and some as high as 72 per cent year over year for a log cabin home.
Insurance company pulls plug on N.B. barn solar project
Hetty Smyth thought she was doing the right thing by installing solar panels on her barn in southern New Brunswick. But when her insurance broker called to renew her family's annual policy, she had no idea what was in store.
Homeowners, realtors should protect against title fraud
Title fraud refers to when the ownership or title of a property is fraudulently changed or documents are forged to allow a fraudster to illegally sell or refinance the property. The most common targets include newcomers to Canada.
Vendor take-back mortgage helps sell a troubled home
OPINIOIN: Higher interest rates have resurrected an old form of private lending that can be a useful financial tool for hard-to-sell properties. Two Vancouver realtors say the vendor take-back mortgage is handy when a property didn’t qualify for conventional lending.
Homebuyers get into market before rates decline: expert
Homebuyers already pre-approved for a mortgage should enter the housing market now instead of waiting for interest rates to go down, says mortgage broker and Lowest Rates expert Leah Zlatkin. Pent-up demand is expected to drive hot spring market.
Is the 5-year fixed mortgage dead?
Not long ago, standard issue five-year fixed was Canada’s mortgage term of choice. It sold more than any other term by a long-shot. Then came COVID-19. Floating rates were diving below fixed rates, and borrowers opted for variable rates.
Bank of Canada could wait too long to cut rates
The Bank of Canada runs the risk of depressing a fragile economy by delaying an interest rate cut, Moody’s Analytics says. Two years after the bank began raising rates to curb soaring inflation, timing of the next move is critical.
Paolo Aquilini sued after alleged failed real estate transaction
Vancouver's Paolo Aquilini is being sued in B.C. Supreme Court for $641,878.52, for allegedly borrowing money to pay a non-refundable deposit in a real estate transaction that failed to complete, and then not repaying his lender.
Toronto falls into the pit of urban decline that's plagued U.S. cities
Toronto’s downtown malaise, which is mirrored in other Canadian cities, reflects in part the accelerating decline of what Jean Gottman once called the “transactional city” — a place defined by high rise offices. U.S. office occupancy has been declining since 2000.
EAH's Bianca Neumann describes funding for low cost housing
EAH Housing is a nonprofit housing developer based on the U.S. West Coast with 230 properties in California and Hawaii. Bianca Neumann, the director of business development at EAH Housing, speaks about the organization's ability to finance low cost housing.
U.S. realtors change commission rules, pay $418-million settlement
A U.S. realtor group has agreed to implement rule changes and pay out a multi-million dollar settlement to homeowners, ending a four-year class-action lawsuit regarding broker commissions, a landmark outcome giving hope to lawyers pursuing a similar action in Canada.
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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