Household debt in Canada is “outlandish when compared to the rest of the G7” according to David Madani
The property transfer tax introduced in Vancouver in the 80s is out of date and adding an unfair burden on buyers.
Calgary is booming with the ever-growing population driving increased construction in the city.
The president of the Canada Mortgage and Housing Corporation says that they are not alarmed by high prices and insists that the market is robust.
New quarterly figures form Statistics Canada show that investment in non-residential building construction increased 1.2 per cent to $13.1 billion in the third quarter.
Credit rating firm Moody’s says that Canada’s economy is in good shape; with a stable banking system and a near-balanced budget; but there is concern over the housing market.
The latest figures show that Canada’s inflation was under control in September.
Business groups are angry that tax breaks on commercial property will be withdrawn pending an appeal on split-use land assessments.
Being near good transport links is often a must-have for homebuyers and developers are prepared to ensure that their projects have the best transit facilities, even if they have to fund them.
While it still leads Canada’s economies the falling oil prices are a concern for Alberta’s energy fuelled economy.
With plenty of positive data still flowing Canadians are upbeat about the housing market, but some experts are now insisting that we’ve seen the peak and that the boom is over.