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With The Daly, The Glade, Red Mountain hopes to strike gold again
The Daly, The Glade: Red Mountain hopes to strike gold again
Red Mountain Resort, one of North America’s oldest ski resorts, will soon be home to two new residential communities for families interested in all-seasons recreation in the Monashee Mountains range.
The new Canadian Mortgage Charter explained
In the Fall Economic Statement (FES), the Liberal government unveiled an initiative it calls the Canadian Mortgage Charter. According to the statement, the charter builds on "existing guidance and expectations" regarding how financial institutions are expected to treat borrowers.
How the federal gov't will tackle illegal short-term rentals
The federal government is throwing its weight around to help address illegal short-term rental properties listed on platforms such as Airbnb and Vrbo and their impact on housing affordability and supply, particularly for the rental housing market.
Housing market faces biggest test since 1990s recession
Canada’s housing market is in “recessionary” territory, and it’s going to get worse before it gets better, economists warned this week. Home sales that reached a peak of 64,000 in early 2021 are down 45 per cent, CIBC reports.
Young adults more likely to own a home if their parents do
If your parents are homeowners you're more likely to own a home compared to young Canadians with parents who aren’t homeowners. A Statistics Canada report analyzed how “parental property ownership could increase the likelihood of homeownership for their adult children.”
B.C. home speculation tax expands by 13 new municipalities
British Columbia’s New Democrat government is expanding one of its first measures to combat the housing crisis to include 13 more communities. Vernon, Penticton, Courtenay and Kamloops are among 13 communities now subject to home speculation and vacancy tax.
Higher density around B.C. transit could lead to demovictions
B.C.'s plan to dramatically increase housing density around transit hubs could lead to mass evictions of renters in low-rise apartment buildings, a market researcher says. The fear is a repeat of what happened in the Metrotown and Broadway neighbourhoods.
Zoning rules to transform single-family B.C. neighbourhoods
OPINION: There’s a revolution about to take place in B.C. that will transform single-family neighbourhoods. Given current zoning bylaws, single-family neighbourhoods often occupy 70 per cent of the land area, while housing less than 20 per cent of the population.
Grimsby wants easier Greenbelt land removal process
The Ontario town of Grimsby wants the provincial government to make it easier for municipalities to remove protected farmland from the Greenbelt for development. Grimsby council directed staff to make the request, despite a split council decision.
‘Super-clean’ is out, comfort is in for luxury housing
Homeowners investing in a luxury new home build or renovation are making comfort a top priority, with a side helping of eco-friendly design. High-end homeowners are choosing comfortable design features over the crisp, ultra-modern lines popular a few years ago.
Agents benefit from the boom in assignment sales
An assignment is a sales transaction where the original buyer of a property (the “assignor”) allows another buyer (the “assignee”) to take over the Agreement of Purchase and Sale before closing. Assignment sales are booming in the condo market.
Residential construction workers in dire need in Okanagan
Ariva construction project (Phase 1) in West Kelowna, B.C. was recently completed but the 38-unit condo took longer than expected to finish. The labour shortage is so significant it has impacted Phase 2 of of the five-phase project.
Crown stays charges of bid rigging in condo renos
A high-profile criminal case of alleged bid-rigging in the Toronto condominium refurbishment business has collapsed amid court timing issues and other procedural matters. It's an unceremonious end to an investigation begun by the Competition Bureau of Canada in 2012.
B.C. strata owner to pay $10K insurance deductible for repair
B.C.’s Civil Resolution Tribunal has awarded a Vancouver strata $10,000 in compensation after a sprinkler pipe burst in an owner's unit. The strata's cost to repair the unit exceeded its $10,000 deductible in its insurance claim.
Vancouver taxpayers could face 7.6% tax hike in 2024
Vancouver taxpayers could be looking at a property tax increase of 7.6 per cent in 2024, if city council decides to adopt a recommendation from the city’s finance team. This increase follows on a 10.7 per cent hike in 2022.
Proposed 7.8% municipal tax increase has Calgarians divided
It’s budget week at the City of Calgary and a public hearing kicked off discussions. Calgarians would see a 7.8 per cent increase in municipal taxes if the recommendations are approved as is.
Terry Rees, FOCA executive director, stepping down
After helming the Federation of Ontario Cottagers’ Associations (FOCA) for 20 years, executive director Terry Rees announced he is stepping down in March 2024. FOCA is a 60-year-old advocacy group representing 250,000 Ontario waterfront property owners.
New purpose-built rental units are not cheap
According to the Building Industry and Land Development Association, only 14,853 purpose-built rentals have been added in the GTA over the past decade and these newer units have rental rates well above current market levels.
Rents are taking up 100 per cent of residents' income
With the average rent now around $2,500 a month for a one-bedroom condo, the MPs for Port Moody–Coquitlam and New Westminster–Burnaby have called on the federal government to ease the cost-of-living bills for their constituents.
Sask. student hopes to crowdfund first home purchase
A 47-year-old university student, who started pursuing a higher education after working throughout most of her adult life, has found a trailer selling for $50,000 and hopes to purchase it with donations from crowdfunding.
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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Canada Real Estate Auction
Oct 22 2024
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MIPIM: The Global Urban Festival
Mar 11 2025
to Mar 14 2025
Palais des Festivals, Cannes, France
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Housing Central Conference
Nov 18 2025
to Nov 20 2025
Sheraton Vancouver Wall Centre Hotel, BC
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