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Canadians work multiple jobs to afford downpayments: RBC
Canadians work multiple jobs to afford downpayments: RBC
A majority of aspirational homeowners in Canada work multiple jobs to save enough money for their downpayments, RBC’s Annual Homeownership Poll reveals.
More than 21,000 units have stalled in GTHA since mid-2022
An Urbanation report revealed that 21,505 units across 60 projects in the GTHA — of which 11,595 suites were in 29 Toronto-based development s —have stalled since mid-2022, as purchasers and developers clash over affordability and profitability.
Uncertainty shrouds Vancouver's housing industry
Construction began on over 33,000 homes in Metro Vancouver last year, a 28 per cent increase over 2022, and “contrary to popular rhetoric that homes are not being built in British Columbia,” B.C. real estate services firm Rennie reports.
Cottage owners rushing to sell ahead of capital gains hike
The imminent capital gains increase to 66.7 per cent from 50 per cent, announced in last week’s federal budget, has cottage owners scrambling to offload their properties before June 25, when the hike becomes effective.
Benjamin Tal: Two more fixes for the housing crisis
Here are two changes that would have an even bigger impact than recently announced government programs. The first is the treatment of the capital gains tax upon the sale of a commercial property, such as an apartment building.
Vancouver businesses decry lopsided property taxes
Business advocates are lobbying Vancouver city council to create a more equitable property tax regime that would relieve the burden placed upon businesses by making residences pay a larger share.
One year later, no answers on evacuated Langford high-rise
Ashley MacDonald has been waiting a year for answers about why she and other residents of a Langford high-rise had to move out with little notice after the city building’s occupancy permit was revoked from owner Centurion Property Associates Inc.
Two-thirds of Canadians would buy home with friends, family
Compare the Market — an Australian-based price comparison website — surveyed 3,000 adults and found that Canadian respondents (61%) were the most likely to join with friends and family to purchase a home, followed by 56.4% of Australians and 55.2% of Americans.
Mortgage lenders don't need to stress test renewals
Uninsured borrowers who stick with their current lender won’t face the mortgage stress test, but if they choose to switch to a new lender when their term ends, they must be stress-tested anew.
New housing increasingly expensive to build
The cost of construction materials has risen by 30 per cent and it’s threatening to undermine the Quebec government’s new affordable housing program, with the price-per-unit exceeding $450,000.
Montreal RE sees surge in $1M-plus homes sales: Sotheby's
Montreal’s real estate market defied expectations in the first three months of 2024, recording a “surprising and unseasonably early uptick” in sales of properties with 378 residences priced at $1 million or more sold in and around Montreal.
March a third month of record lows for new GTA home sales
All three months of Q1 2024 have set record lows for new home sales, according to the Building Industry and Land Development Association (BILD). BILD reports 1,125 new home sales in March, 66 per cent below the 10-year average.
New housing development sluggish in Nanaimo and Duncan
According to BC Check-Up: Invest, an annual report by the Chartered Professional Accountants of British Columbia on investment trends across the province, construction began on 2,410 housing units across the Vancouver Island and Coast region in 2023.
Christopher Lamb fined, Hira Custom Homes licence refused
The Home Construction Regulatory Authority (HCRA) has penalized Christopher Lamb and his former company, Novel Condominiums, for selling new homes illegally. The homebuilder has been fined a total of more than $150,000 by the Provincial Offences Court.
An offer to buy your time-share may be a Mexican drug cartel
It seemed like a godsend to the Edmonton couple. On their first trip to Mexico, for a 2016 wedding, they had made a snap decision to invest in a beachfront property in Nuevo Vallarta, on the Pacific coast.
U.S. 30-year mortgage rate hits five-month high of 7.24%
The contract rate on a 30-year fixed mortgage increased 11 basis points in the week ended April 19 to 7.24%, the highest since Nov. 24, according to Mortgage Bankers Association. The index of mortgage applications fell 1%.
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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