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Measures to promote supply are needed, but the resulting new-build supply won't be cheap.
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It is possible that like Vancouver, foreign buyers' tax may not be able to stem the rising real estate prices in Toronto.
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Sales rebound to near-record levels, but singe-family home sales are soft.
It's not always easy to separate the energy used to heat your home from that used to power lights and appliances, heat water, and charge electronics. For example, there are two different electricity rates (or tiers) charged by your utility. After consuming a certain amount of energy each month, you start being charged at a higher rate. Both B.C. Hydro and FortisBC also charge a fixed amount on each bill, in addition to charging for the energy you consume. You can see how it might be difficult to understand the costs and benefits of different heating options.
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If you're planning to buy a house in Vancouver, you may want to stock up on some bitcoin.
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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.
Sotheby's says the decline was due to B.C.'s foreign buyer tax.