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Vancouver empty homes tax explained

The empty homes tax is a yearly tax applied to any homes or properties in the Vancouver area that are left unoccupied for more than six months in a given tax year.

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Calgary market remained strong in Q3 and investors are taking notice

Despite a marked slowdown from the hectic first half of the year, Calgary has no shortage of activity in its residential market.

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How much does new home construction cost in Canada?

For many people, building their own homes is a solution to help them get exactly what they want. While it is totally viable option, it is a very different process than buying a resale home.

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News

Is bureaucracy responsible for housing affordability woes?

Housing is top of mind for Canadians with the federal election less than a week away, but unless political parties cut the red tape responsible for the chronic undersupply of housing in key markets, the affordability woes will persist.

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Tories’ longer fixed mortgage terms could help affordability

The Conservative Party of Canada has pledged to create a new market for fixed mortgages in the seven- to 10-year range in a bid to create housing affordability, and the pledge holds water, says a Toronto-based mortgage professional.

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This mortgage agent breaks down federal parties' pledges

The governing Liberal Party’s election promise to introduce a new tax-free home savings account that would function much like RSPs and TFSAs to help first-time buyers is a welcome pledge, says Christelle Mwamba, an agent with Mortgage Scout.

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Younger investors driving secondary, tertiary markets

Investment property purchases are fast becoming the domain of millennials and Generation Z, who see more value in secondary and tertiary markets. They’re particularly active in the Niagara region.

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Are cash offers for your home risky?

Homeowners should beware of buyers soliciting them with cash offers, says the president of Right at Home Realty. It can be problematic for all-too-trusting homeowners and here's why.

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Home prices will flatten in 2022: RBC

The winter buying frenzy in Canada’s housing market has given way to a restrained pace of sales that will culminate in prices flattening early next year, says a report from RBC Economics.

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Bank of Canada responds to weak Q2 economy—holding policy steady

The Bank is maintaining its extraordinary forward guidance on the path for the overnight rate, estimating the first rate hike in the second half of 2022.

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Don’t outlaw blind bidding, alter it: broker

Blind bidding in the homebuying process has been called into question recently, with the prime minister of Canada even making an election promise to outlaw it.

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Unexplained wealth orders touted to fight money laundering

Talk of a beneficial ownership registry would prevent numbered companies from owning real estate and deal a major blow to would-be money launderers, say two Toronto-based lawyers.

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Tight supply drove up home prices in August: TRREB

TRREB is reporting strong sales for the month of August and noted that tight supply conditions have driven the benchmark price of a home in the region up by 17.4% compared to the same month last year.

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