December 2024

It will soon be a year since the B.C. Government announced, in its 2024 budget, details of a new tax on home buyers who buy and sell properties to make a quick profit. Now, what has been labelled the “B.C. Home Flipping Tax” goes into effect on January 1. 

The experts who predicted another “jumbo-size” half-point cut in the Bank of Canada interest rate were right. The question that follows is: How will this affect the economy in general and real estate in particular? How quickly will the “other” banks — the ones that issue mortgages — respond and how much will their response reflect the interest-rate...