In the year 2000 the bank lending interest rate in Canada was 7% but by last year it had fallen to 2.7% while incomes increased, more than doubling the amount that homebuyers could borrow
The sale of commercial real estate over $100 million is fairly non-existent in Vancouver currently.
Chinese property giant Greenland Holding Group has made its first investment purchase in Canada following high profile acquisitions in London and New York.
It might seem an easy option to sign and return the renewal form and let the lender take care of the rest, after all the rate they are offering seems OK.
The outgoing boss of the Toronto-Dominion Bank says that Canada needs tighter lending rules to stem the high levels of consumer debt encouraged by the low interest rates.
In a few weeks time builders in Ottawa will be faced with increased municipal charges for their developments.
The National Association of Realtors in Florida has confirmed that Canadians are still the number one buyers of property in the state.
With the latest figures from CREA showing that house prices increased again in August; a 2.1 per cent rise year over year; you might expect that consumer confidence in the housing market would also be high but it’s not.
The idea of a tax on those who buy property in the city and leave it vacant was proposed by candidate Meena Wong who moved here 34 years ago from Hong Kong.
We know that prices are increasing faster than incomes, and we know that market conditions are attracting people to become owners, but are too many people overstretching their household finances?
The latest figures from Teranet-National Bank exceeded the historic average for August, with a 0.8 per cent increase for repeat sales of single-family homes.