Canada Housing

Vancouver's Housing Market Is Driving Away Young Families

Ashley Redmond | Posted 01.26.2016 | Canada British Columbia
Ashley Redmond

Since I've moved to Vancouver in February of last year I've become accustomed to daily news updates on the real estate market. There are other towns like Squamish that are on the winning end of the housing crisis in Vancouver -- these towns are getting young families that will one day help their town prosper.

The 5 Hottest Housing Markets Under $500,000

Wayne Karl | Posted 01.26.2016 | Canada Business
Wayne Karl

On Feb. 15, 2016, Canada's new mortgage rules kick in, mandating higher minimum down payments for homes priced higher than $500,000. But if you're planning to buy a home for less than that figure, you're in luck -- there's plenty of hot markets across Canada with average home prices of less than $500,000.

Buying a Condo? Walk A Little To Save A Lot

Wayne Karl | Posted 01.07.2016 | Canada
Wayne Karl

If you're planning on buying or renting a condo, here's an important lesson: purchase prices and rents will be higher the closer you are to major transit hubs such as subway stations. Sure, it's convenient to be located adjacent to a subway stop, but it'll cost you. How much? You'd be surprised.

Can You Afford Your Mortgage In 2016?

Ron Alphonso | Posted 01.04.2016 | Canada Business
Ron Alphonso

Many Canadians are opening up their January credit card statements, reeling from the holiday hangover and newly acquired debt they racked up last month. It sure adds up quickly: gifts, some travel, a few nice dinners over the holidays. What would happen if credit card interest rates doubled? How many of us would fall behind in our credit card payments? It sounds horrible but rest assured it is unlikely. But it is far more likely to happen with our mortgage rates. Could you afford your home in 2016 if interest rates rise?

New Mortgage Rules Won't Stop A Motivated Borrower

Douglas Hoyes | Posted 12.17.2015 | Canada Business
Douglas Hoyes

New limits may force more borrowers to approach alternative lenders as a source for financing and may increase the percentage of parents taking out a second loan on their own home to help their adult children move into the housing market.

N.L. Woman Bypasses Realtors To Sell Her Home On Facebook

The Huffington Post Canada | Jesse Ferreras | Posted 12.16.2015 | Canada Business

And she says she has nothing against realtors.

Ottawa's New Down Payment Rules Aren't Necessarily A Bad Thing

Samantha Brookes | Posted 12.16.2015 | Canada Business
Samantha Brookes

Newly appointed Finance Minister Bill Morneau grabbed lots of headlines last week with the announcement that the Liberal government was imposing more stringent down payment requirements for buying a home. The move is meant to take the air out of the still-hot housing markets of Toronto and Vancouver, and it may well do that.

Alternatives To Conventional Homes: Realistic Or Ridiculous?

The RentSeeker.ca Team | Posted 12.16.2015 | Canada Business
The RentSeeker.ca Team

While the housing and rental markets continue to make headlines in the news, alternatives to conventional homes have started to become more of a topic of its own. From tiny homes, to the Google employee living in a van, these examples offer a glimpse of the 'alternative home living' movement, a lifestyle where people are choosing to live in homes that greatly deviate from the norm.

Five Things To Know About Canada's New Mortgage Rules

CP | Posted 12.11.2015 | Canada Business

People in Vancouver, Toronto could feel the brunt of the new rules

GRAPHIC: This Is How Much $$$ You Need To Buy A Home

The Huffington Post Canada | Jesse Ferreras | Posted 12.15.2015 | Canada Business

It's become a national pastime to fret about the expense of buying a home in certain Canadian cities. But there are a few cities where buying one w...

Why Newly Constructed Homes Remain Unsold In Alberta

Nick Ford | Posted 12.10.2015 | Canada Alberta
Nick Ford

I recently wrote an edition presenting a statistic that isn't covered very often and it garnered some attention and debate. The statistic I'm referring to is the number of completed but unabsorbed houses. These are houses (single and semi-detached) that are freshly built that don't have a binding, non-conditional agreement made to buy or rent the house.

Most Vancouver Families Choose Place Over Space

Brad Jones | Posted 11.20.2015 | Canada British Columbia
Brad Jones

The belief that people are trapped in their first home due to lack of available options in Vancouver just isn't true. The benchmark prices for condos and townhomes here are now rising at the same rate, after years of plateau. Fears of not being able to move up to a larger condo or townhouse are unfounded.

Housing Bubble Fears Are Causing A Rental Housing Boom

Ben Myers | Posted 11.06.2015 | Canada Business
Ben Myers

Warnings of a housing correction are not new, but the frequency has increased. A couple of southwestern Ontario markets (most notably Toronto) and the Vancouver metro area are pricing out first-time buyers. In other major centres across Canada, the flatness or slowing of house price appreciation has dissuaded potential buyers from jumping in.

Turning Trudeau's Housing Promises Into A Strategy

Wellesley Institute | Posted 11.06.2015 | Canada Politics
Wellesley Institute

The federal government must proceed in partnership with the provinces to avoid needless conflicts and ensure the new program meets diverse needs. In Canada's housing programs of the 1960s to 1980s, the federal government decided the funding framework, put in at least half the funds, and got political credit for it, but the provinces administered most programs. It was a successful recipe, adaptable to today.

Experts Expect Housing Market To Cool In The Next Two Years

CP | Craig Wong | Posted 10.26.2015 | Canada Business

Canada's housing market has been helped by low interest rates in recent years.

Older Adults Living on Low Incomes Need Housing Options

Arlene Adamson | Posted 10.23.2015 | Canada Impact
Arlene Adamson

It was recently reported that Calgary has some of the most expensive seniors' housing in Canada, at $3,100 a month, some $1,000 over the national average. There's no doubt that the article has a point: we do need more affordable seniors' housing in this country.

We Need a National Housing Strategy

Ritika Goel | Posted 10.13.2015 | Canada Politics
Ritika Goel

My patient reminded me that day of something that I have always known -- access to housing is not just a matter of rights and justice, it's also a matter of health. When his mental health deteriorates, he can indeed access the hospital care he needs, but if providing him access to housing can help keep him healthier, costs us less, and is the right thing to do, then why not do it for everyone? This federal election, when we vote, we must vote for housing for all, and no matter who is elected, we must call on them to take action immediately.

Saskatoon's Housing Crisis Is a Health Emergency

Dr Ryan Meili | Posted 10.02.2015 | Canada Impact
Dr Ryan Meili

Despite a strong economy, Saskatchewan has a deficit in access to safe and affordable housing. The Saskatoon Housing Initiatives Partnership performed a "point-in-time" count of people without a home on a given night and found 405 people. The number from these counts has steadily increased. What's especially disturbing is that 45 of the homeless individuals in this year's count were children. Across Canada, an estimated 235,000 people will experience homelessness in the course of a year, with 35,000 homeless on any given night. Beyond those who are homeless, many Canadians struggle to maintain the housing they have.

Why a Sub-Prime Mortgage Isn't Always a Bad Idea

Samantha Brookes | Posted 09.29.2015 | Canada Business
Samantha Brookes

With home prices perpetually climbing higher and with banks continuing to tighten lending standards, more and more people are being pushed into the sub-prime space when applying for a mortgage, which requires higher interest rates and often more stringent repayment terms.

5 Questions for Federal Leaders on the Economy

Raymond Louie | Posted 09.16.2015 | Canada Politics
Raymond Louie

The economy is not an abstract concept to be debated like some complex math equation. It is the day to day moments of our life that tell us whether it is safe to dream of something better for ourselves and for our children. The truth is this: on Thursday night, if a party leader does not spell out a serious plan to work with cities and municipalities, then don't be fooled. They don't have a serious plan for jobs and the economy. With that it mind, here are five questions federal political leaders need to answer in Thursday night's debate.

Joshua Ostroff

Our Homes Are Hurting The Environment. Here's How The Next Government Could Fix It

HuffingtonPost.com | Joshua Ostroff | Posted 09.09.2015 | Canada Politics

From staking vampire power to funding low-income retrofits, we can stop Canadian homes from wasting electricity and leaking energy.

Basic Income Is Just What the Doctor Ordered

Danielle Martin | Posted 09.08.2015 | Canada Living
Danielle Martin

What makes people sick? Infectious agents like bacteria and viruses and personal factors like smoking, eating poorly and living a sedentary lifestyle. But none of these compares to the way that poverty makes us sick. Prescribing medications and lifestyle changes for our patients who suffer from income deficiency isn't enough; we need to start prescribing healthy incomes. The upstream factors that affect health -- such as income, education, employment, housing, and food security -- have a far greater impact on whether we will be ill or well. Of these, income has the most powerful influence, as it shapes access to the other health determinants.

Harper's Built His Housing Policy On a Weak Foundation

Dan S. Barnabic | Posted 09.02.2015 | Canada Politics
Dan S. Barnabic

Encouraging Canadians to enter into an exceptionally inflated housing market where two houses are being built for every new person added to the working-age population may well lead to catastrophic results once the market goes into correction -- as it did in the United States in 2008, when that country's ownership rate reached 69 per cent.

Finding Shelter for Homeless LGBT Youth

Craig and Marc Kielburger | Posted 08.28.2015 | Canada Impact
Craig and Marc Kielburger

Earlier this summer, Canada's first transitional housing dedicated to LGBT youth opened in Toronto--the YMCA's Sprott House. Reading about this great initiative raised our awareness about an issue that needs to be on the radar of all Canadians -- the unacceptable rate of LGBT youth who have no place to call home. LGBT youth become homeless for much of the same reasons as other young people -- family conflict, abuse, mental health issues and addiction. LGBT youth also experience higher rates of mental health and addiction issues in large part because of discrimination.

Stop Complaining About Housing Prices and Start Looking for Solutions

Ben Myers | Posted 08.26.2015 | Canada Business
Ben Myers

My suggestion to people concerned about housing in Toronto and Vancouver is to stop looking for a scapegoat, stop searching for someone to blame, and start coming up with real, workable plans. The first step is to accept that high housing prices are justified based on supply and demand and devise a workable strategy that can either increase supply or reduce demand based on current market conditions. Be part of the solution, not the problem.