Real estate

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Secondary Suites Are Officially The New Normal

According to a new report by Mortgage Professionals Canada, Canadians who purchased their home within the past two years reflect a "new normal" in the Canadian housing market. Thirty-four per cent of first-time buyers think it's important to generate income from their properties, and 13 per cent of homeowners undertook renovations to add space for a rental unit.
Adrian Wyld/CP

Canada Has A Housing Shortage. So Why's It Punishing Homebuyers?

Something happened in Toronto's housing market over the past year that really shouldn't happen in a free market. As home prices shot through the roof, the number of homes being built in the city dropped dramatically. Vancouver seems to be experiencing a similar problem. So what's going on here? Why is the supply of housing not keeping up with demand, even though there is so much money to be made? The answer, according to a growing number of experts, is that local policies and public opposition to development are killing off home construction, causing home prices to skyrocket.
Colin and Justin

Flipping Homes: Tips On How To Sell Up

From personal experience, the market remains buoyant. We're entering the fray one again with expectant eyes set on several purchases to buoy our own portfolio. Some will be rental investments, others flips. The latter is a particular field of expertise, our training ground, in fact, long before moved into TV.
Canada's real estate market has held up very well in recent years, especially when compared to the housing bubble burst the U.S. experienced. But with debt levels reaching record highs along with house prices, many say the golden days of Canada's booming housing market are destined to end. Will Canada follow the U.S. down the path of a housing bubble bust, or will the housing market continue to stay buoyant? Only time will tell.