Adding pages to the densification story
Posted on Oct 14, 2021 in Government and real estate
You’ve been reading about densification on this website and in News From Nexus, for some time, because it is seen as one of the factors that impacts affordable housing in urban areas. This month brought another twist on the word — and the concept — for Vancouver residents and those who plan to be.
The City of Vancouver is studying an idea that would...
Possible real estate impact of new stat holiday
Posted on Aug 08, 2021 in Government and real estate
It may have slipped by many Canadians, but there is a new statutory holiday coming up that is important to take note of if you happen to be buying or selling a home around the end of next month.In legislation passed earlier this year, September 30 became a stat holiday, designated by the Federal Government as the National Day for Truth and Reconcil...
Bank of Canada revising economic outlook
Posted on Apr 25, 2021 in Government and real estate
When the Bank of Canada made its planned financial announcement this week, the headline that caught every analyst’s attention seemed to be about the brighter future.
The Bank is projecting that consumer spending will mean economic growth of 6.5 per cent this year, 3.7 per cent next year and 3.25 per cent in 2023. This projection is 2.5 per cent high...
Interest rates expected to stay low until 2023
Posted on Mar 10, 2021 in Government and real estate
In case you missed it, the benchmark interest rate is probably going to stay at one-quarter of one per cent (0.25%) until sometime in 2023.
That extends the record-low interest rate for another two years and that’s good news for — among other industries — real estate. In theory, that figures to ease the financial burden for people who want to find h...
Revisiting foreign buyer taxes
Posted on Jan 22, 2021 in Government and real estate
Four years ago, B.C.’s provincial government introduced a tax on foreign buyers that was designed to make housing more affordable for Metro Vancouver residents.
A tax of 15 per cent was levied on residential properties purchased by foreigners. Two years later, in 2018, the 15 per cent foreign buyer tax was changed to 20 per cent and, later that year...
A change to the stress test — your thoughts?
Posted on Feb 20, 2020 in Government and real estate
This week, the Federal Government tweaked the “stress test” — the much-debated B-20 — that was designed to reduce the risk of debt for people seeking mortgages by improving the quality of loans.
A change is coming.
Starting in April, the Federal Government will change the stress test qualifying rate.
Current rate: the greater of the borrower’s contrac...