BC announces home-flipping tax, plus aid for first-time buyers, property transfer tax changes and refunds. Market Continues Recovering. New Ferries & More.

by Diana Winger

Canadian Housing Market Continues to Show Signs of Recovery

 
As homes selling in expensive markets outpace homes selling in more affordable markets, the national average price will appear to rise, which can skew how the data is interpreted. Watch as Shaun Cathcart, Senior Economist at the Canadian Real Estate Association (CREA), breaks it all down in the video below.  
 

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Canadian Housing Market Continues Recovering; Home Sales on the Rise

Most Canadian mortgage owners concerned about payments, survey finds (BNN Bloomberg)

High living costs 'jeopardizing' financial security of renters, mortgage owners: survey (BNN Bloomberg)

Millions of Canadians fear delayed retirement, Co-operators poll reveals (Wealth Professional)

We could reach 2% inflation by this summer: National Bank (Canadian Mortgage Trends)

Mortgage rejections in flood zones (CTV News)

Real Estate Magazine – Property tax hikes spark outcry across Canada: Are homeowners being bled dry?

Real Estate Magazine – GER: Collaborative solutions for Canada’s housing crisis: Why non-profits are essential

Bloomberg – Canadians eager for homeownership, but down payments present another hurdle: report

Financial Post – What $1 million will buy you in Canada's housing market

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Storeys – Will Canada really need 5.8M new homes by 2030?

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Bank of Canada to cut interest rates in half by end of next year: Desjardins (Yahoo! Finance)

Identity and mortgage fraud on the rise (CTV News)

How barriers to homeownership are impacting young Canadians’ future plans (Global news)

National Bank sees delinquencies for its insured variable-rate mortgages rise to pre-pandemic levels (Canadian Mortgage Trends)

Financial Post - MCLISTER: Are you ready to start climbing the property ladder? This checklist will help you find out

If the 2000s have taught us anything, it’s that buying and holding a quality primary residence is a cheat code for tax-free equity gains.  Looking back at every 12-month span since 1980, home prices have risen an average of 5.78 per cent. That means, if you’re adequately qualified and financially fit, getting on the property ladder earlier in life can put you on the fast track to a secure retirement.

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Real Estate Magazine – Canadian homeowners face declining property values: Point2 study reveals significant losses

Reuters – Canada's extension of ban on foreign real estate buyers labelled political, not practical

Financial Post – A deeper dive into the CRA's rules around using a tax-free FHSA to buy a home

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Canadian Mortgage Professional – Canadian home prices expected to rise until 2025

Canadian Mortgage Professional – BC announces home-flipping tax, plus aid for first-time buyers

The latest in mortgage news: BC government unveils details of its proposed home-flipping tax (Canadian Mortgage Trends)

Victoria Times Colonist - Plan for six-lot subdivision along Lochside Trail gets green light

Victoria Times Colonist - Developer can’t add two storeys to Esquimalt condo already being built

Victoria Times Colonist - Saanich revised OCP opens door to 18-storey residential towers on McKenzie

Victoria Times Colonist - Tiny Town container-housing village set to reopen at Royal Athletic Park parking lot

B.C. homeowners who sell within two years to face flipping tax (Times Colonist)

Victoria Times Colonist - New rental highrise on View Street would be higher than View Towers

B.C. premier admits home-flipping tax is no silver bullet (CBC News)

Real estate association economist doubts B.C.’s flipping tax is worth the trouble (Canadian Mortgage Trends)

Victoria Times Colonist - New B.C. Ferries vessels, expected in 2029, to carry 2,100, run on greener tech

B.C. home sales rise in January, nearly 30% above last year: BCREA (Real Estate Magazine)

 

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