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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.
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A shortage of housing is behind the rise in home prices, real estate industry says.
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Skyrocketing home prices dominated the headlines in 2016, and it's no surprise that housing unaffordability remains the news of the day as we wrap up the year. Affordability has hit an eight-year low in the third quarter of 2016.
Special interest groups have always staged PR events to try and gain coverage, but the real estate industry has decided to take a more "proactive" approach. Some members of the industry are turning regular journalism into "commerce journalism," by manipulating coverage in their favour, sometimes engaging in unethical practices.
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If a bank can trust a lender, so can the government, she said.
Would-be buyers are being forced to leave the cities they love.
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Here are three alternatives to buying a home in a big city.
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B.C.'s home loan program pushes in the opposite direction of federal Liberals.
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The Bank of Canada has started using visual aids to scare people off of borrowing more.
Housing costs continue to soar in Canada's priciest real estate markets -- in spite of provincial and federal action to slow housing activity in Toronto and Vancouver. This has left many hopeful home buyers priced out of the average detached home market. Even larger condo units are picking up speed in price.
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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.
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Lax ownership reporting rules are making property a magnet for money laundering.
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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.
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That's right, Hamilton, Ont. - or, specifically, the Hamilton-Burlington real estate district - not Vancouver or Toronto. Regional markets in proximity to Canada's highest-price cities continue to experience steady interest from local move-up buyers and buyers who are looking to find a balance between affordability and square footage.
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Canadians are a little more sour than usual on the housing market these days.
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In a market where you need your parents' help to buy a house, only those whose parents own a house can buy.
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Buying a new home -- especially for the first time -- is stressful, but ask yourself if your fears are founded on facts, or just a common case of cold feet? Nothing will ruin your home-buying happiness like having it engulfed in a wave of irrational fear.
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Loosen restrictions and let more homes be built, industry says.
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Canada risks falling behind if it doesn't develop its human resources, report argues.
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Foreign buyers aren't the major factor driving up house prices, Evan Siddall says.
Follows earlier rate hikes by TD, RBC.
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Homebuyers thinking of purchasing a new or pre-construction condo are often confused about the HST rebate. Questions like, "Who pays HST on new homes?" are often top of mind. And for good reason. The HST rebate can mean upwards of a $30,000 difference to your bottom line.
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Toronto and Vancouver are joining an elite club of cities where many can't afford to buy housing.
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My kids want a back yard (and so does my dog), but I don't want to double or triple my mortgage for a piece of grass and a couple extra feet between me and my neighbours. Many have suggested we move farther afield, but I don't want to uproot the family, take my son out of his school and my daughter way from her friends -- that is the dilemma.
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You sold your house, you survived the move and your boxes are all unpacked -- great job! That can be quite an undertaking, I know. But the work isn't quite done yet. Recently, the government announced important changes that will add an extra step to selling your home -- reporting it.
With search terms such as "How to move to Canada" and "How to become a Canadian citizen" skyrocketing on Google during and after the election, Canada is on Americans' radar now more than ever. Now might be a good time to buy investment real estate.
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First-time homebuyers in Canada, you’re going to have to scale back your ambitions. Mortgage site Ratehub has crunched the numbers to see what the federal Liberals’ new mortgage rules will mean for ho...
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NIMBYism isn't just about anti-development. It can be viewed as "anti-change," and its ripple effect is far-reaching. What happens when cities stop attracting new residents and business? Let's just say that aging populations and infrastructure typically do not support growth.
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It's just a "stress test," not a prediction.
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There's less than one week to go until the federal government tables its national housing strategy report on November 22, following months of consultations with the provinces and territories, industry experts and everyday Canadians. What will, or should, our national housing strategy look like?
Meanwhile, Toronto's hot real estate market is spreading out.
This could be bad news for Canadian mortgage payers.