National Bank of Canada study: housing prices rising
Posted on Apr 25, 2023
This headline in The National Post catches the attention of anybody involved or about to be involved in the housing market:
“Housing prices rise month over month for the first time in 10 months”
The source of this mildly optimistic outlook is the National Bank of Canada and it’s based on the monthly Teranet-National Bank Composite Home Price Index...
Underused Housing Tax deadline April 30
Posted on Apr 17, 2023
It’s almost “tax time” and in the interests of helping homeowners avoid the unexpected, you should know about a new tax that could — repeat, could — apply to some homeowners. It’s called the Underused Housing Tax Act (UHT for short) and residential property owners can be categorized into two classifications — excluded owners and affected owners.
To...
Federal Government relaxes restrictions on foreign ownership
Posted on Apr 06, 2023
There are four amendments to the somewhat-controversial foreign ownership ban — officially called the “Prohibition on the Purchase of Residential Property by Non-Canadians Act: — that went into effect on January 1.
They are:
1. Real estate investment is only considered “foreign” if more than 10 per cent of the company doing the development is owned b...