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Surprising to many, homes come with warranties -- well, new homes that is. New-construction condominiums, townhouses and free-standing homes are automatically covered for issues related to construction and assembly of the home -- pipes, paint and everything in between.
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During this B.C. election, decision-makers say they're acting on climate change and conserving the environment without acknowledging that out-of-control housing costs work in direct opposition to those goals. Hundreds of thousands of people commute into and out of cities they cannot afford to live in.
A growing contingent of Canadian families are opting for the compact condo lifestyle over the white picket fence and the sprawling suburban McMansion.
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"The province and the city has abandoned the working class and this is ridiculous."
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But confidence in personal finances is on the decline.
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The average sales price of a home in Canada reached $548,517 in March, up 8.2 per cent in a year.
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Both the housing dilemma and the rental dilemma - two problems connected at the hip - have the same solution: an increase in supply. And in time, so long as there is no government interference designed to spare the market from bubbles that grow too large and pop on their own, the system will re-balance and recover.
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Sotheby's says the decline was due to B.C.'s foreign buyer tax.
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Half the money circulating through Vancouver's housing market has vanished.
Chinese nationals who convert currency must promise not to buy real estate with the money.
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The renovated two-bedroom condo is going for $868,000.
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The country has seen a large spike in unoccupied housing since the start of the century.
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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.
Those with a work permit who pay taxes in B.C. will be exempt from the 15-per-cent levy.