RBC projecting real estate market on the way up
Posted on May 14, 2023
Market watchers will be interested in what the Royal Bank of Canada’s chief economists had to say this month — that the Canadian housing market had run its course and it appears “a cyclical bottom has been reached.”
RBC attributed this to increase in both activity and prices despite the fact that inventories remain low pretty much across the country...
Comprehensive theory of affordable housing in Vancouver
Posted on May 10, 2023
The subject of “affordable housing in big cities” is everywhere now, and it’s a challenge to try and sort through all the theories to address increasing a city’s density and at the same time keeping the cost of “living” there in check.
Housing prices in Vancouver are always in the news because it traditionally is ranked among the “world’s most expen...
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...
Will 2022 record number of housing starts continue?
Posted on Mar 23, 2023
There’s another cautiously optimistic report about the state of real estate in the Lower Mainland, this one from the Chartered Professional Accountants of British Columbia, one of the province’s largest professional organizations dedicated to being “on the front lines of business in B.C.” According to a CPABC reports, housing starts in Southwest B...