The influx of multi-unit builds has led some economists to warn of overbuilding in the Canadian housing market, which could leave a glut of unsold homes on the market in the case of a downturn
“Aging households will support continued growth in condominium markets. We can also expect to see growing demand for home adaptations … (and) the number of seniors in institutions would increase by a factor of almost two and a half.”
Infill continues to redefine neighbourhoods, particularly in areas where the value of existing structures have not kept pace with escalating land values
Addresses of homes and businesses where grow ops and meth labs have operated now available online as part of Mountie’s Marihuana Grow Initiative
RBC Economics report finds detached bungalows in Vancouver were especially expensive, with the cost of mortgages payments, utilities and property taxes equivalent to 92.5 per cent of a typical household’s monthly income
The average Canadian home sells for $340,000, which would attract a commission of $17,000
New 17-storey LEED Gold office building to be leased by the federal government
Almost half of young homeowners say mortgage costs are too high
Most Canadian homeowners want little more than to reduce their debt – and it’s a desire that’s been at the top of their wish lists for four consecutive quarters. Manulife Bank of Canada surveyed Canadian homeowners and found nearly three in 10 homeowners rated debt freedom as “10″ out of 10 – their top financial [...]
The Olympic dream has turned out to be more of a nightmare, say condo owners suing the city and the developer because they claim their units in the 2010 athletes’ village don’t meet the gold-medal standard they were promised. Several lawsuits have been filed by the owners of sixty-two units, who bought the condos based [...]
As of March 18, 2011, the rules for government-backed insured mortgages have changed. The new measures: Reduce the maximum amortization period to 30 years from 35 years for new government-backed insured mortgages with loan-to-value ratios of more than 80 per cent. This will significantly reduce the total interest payments Canadian families make on their mortgages, [...]
Canadians believe that the current housing market is balanced and that they’re doing a good job of paying off their investments. The 18th Annual RBC Homeownership Study found that 90 per cent of Canadians are confident about real estate as an investment and 85 per cent feel that they are doing a good or excellent [...]
The federal government is taking steps to crack down on runaway consumer borrowing with new rules that make it harder to take out a home mortgage and limit some types of loans. The measures were necessary, Finance Minister Jim Flaherty said Monday, because a minority of Canadians are “borrowing to the max.” It’s the third [...]
The Economist magazine’s latest survey of global home prices claims that Canadian real estate is overvalued by 23.9 per cent. The Economist determines fair value by comparing the current ratio of house prices to rent with the long-term average. By that measure, Australia led the way among the overvalued markets, with homes 63.2 per cent [...]
For their next move, Canadian boomers are looking to downsize to smaller homes. According to the TD Canada Trust Boomer Buyers Report, four-in-five Canadian boomers say their next move will be to a smaller home, either to save money (46%) or to enjoy more luxurious features (34%). “Many boomers find that their needs and priorities [...]
Manulife Financial has purchased 100 University Avenue, a prime, 266,000 square foot, 12-storey office building in downtown Toronto for C$82.2 million in a deal that closed October 28, 2010. “Manulife has been looking for opportunities to grow our real estate investment portfolio and we are extremely pleased to secure this superb asset in Toronto’s downtown core,” [...]
A new public company that will sell shares in Whistler Blackcomb says it plans to pay out significant dividends, but warns that any investment in the ski resort “involves a high degree of risk”- from another economic downturn to the fallout from an avalanche. Whistler Blackcomb Holdings Inc. did not say how much it plans [...]
Homeownership costs in the second quarter rose across Canada for the fourth consecutive time despite the recent slowing in resale market activity, according to the latest housing report released today by RBC Economics Research. “Higher mortgage rates in tandem with a further appreciation in home prices boosted the monthly costs associated with carrying a mortgage [...]
There is no place like home, but for many Canadians, buying a home doesn’t mean they plan to stay for long. In fact, one-in-five repeat buyers have owned more than five homes. Twenty-three per cent of those surveyed plan to move again within six years according to the TD Canada Trust Repeat Home Buyers Report, [...]
