The Great White North's housing frenzy is spilling over.
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Toronto and Montreal have surpassed Vancouver as the biggest targets for Chinese buyers in Canada.
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One out of 11 homes sold in York Region went to non-residents.
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One of the most beautiful times of year here on the west coast, spring has traditionally been a season that ushers new homebuyers into the Vancouver real-estate market. Whether you're new to Canada or making the leap to home ownership for the first time this season, here are some considerations.
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Is Ontario's new Fair Housing Plan, comprising 16 measures designed to stabilize the real estate market while protecting homeowners' investments, actually fair? Or foul? Or is it a fail, even? Well, that depends on what part of the housing market you're in.
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Spring has sprung, and while spring season is normally an occasion to celebrate, with days growing longer, weather getting warmer and real estate heading into busy season, everything feels a little different this year. Canada's real estate markets are dealing with myriad of issues.
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Every five years, statisticians, analysts and economists eagerly await the slow release of Census data by Statistics Canada. In early February the population and dwelling count tables were released. The figures that immediately caught the attention of the public was the difference between the total dwellings and dwellings "occupied by usual residents."
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Sotheby's says the decline was due to B.C.'s foreign buyer tax.
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The tax creates an "arbitrary" division between citizens and permanent residents, lawsuit argues.
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On one hand, sellers and listing agents are loving this flurry of fruitful activity. They are obtaining record-setting prices for homes in record-setting times. Prospective homeowners hoping to buy, however, are faced with largely stressful, emotional experiences in which many end up empty-handed.
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Global real estate markets are breaking a sweat, and Vancouver should be no exception. Those same foreign buyers that sent property values soaring around the world are now a little short on foreign currency.
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As house prices grow higher, questions about foreign buyers' role grow louder.
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Lax ownership reporting rules are making property a magnet for money laundering.
Foreign buyers aren't the major factor driving up house prices, Evan Siddall says.