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Borrowers should make sure they can handle a hike in interest rates.
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The most basic economic principle is, when there is a rise in demand, the invisible force of supply will kick in, and this is how economic growth is generated. For those who want to blame the housing crisis on immigrants, let's think about how our economy would look like if B.C. or Canada did not have the intake and growth brought by immigrants.
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And a housing crash won't fix it.
Some students live in university dorms. Others own luxury homes.
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"They're not going to come down that much.''
Is upgrading to a bigger home just a pipe dream these days?
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Affordability in Toronto is at a quarter-century low.
"The goal is to support those living in parts of the province that have seen skyrocketing real estate prices."
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The bank predicts that rate hikes from the central bank, which is expected to raise its trend-setting overnight interest rate next year, are likely to erode affordability.
Nothing is quite as popular as a tax on someone else. Vancouver's mayor knows this, and that's why he is pitching tax hikes on overseas property buyers, despite a notable lack of data...
There is something disturbing about the way local media continues to laud people for moving into smaller and smaller spaces simply because they can't afford anything else.
Vancouver remains the worst place in Canada to afford a house despite slumping prices, says a report from the Royal Bank of Canada (RBC). The costs of owning a detached bungalow in Vancouver take up 8...