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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.
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Sotheby's says the decline was due to B.C.'s foreign buyer tax.
Tyrone Siu / Reuters
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.
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Those with a work permit who pay taxes in B.C. will be exempt from the 15-per-cent levy.
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More than 10,500 new condo units are slated to hit the Greater Vancouver housing market this year, according to MLA Canada's 2017 Market Intel report -- opening up plenty of more-affordable housing options for prospective homebuyers who have been priced out of the single-detached segment.
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5 Canadian housing markets show strong evidence of "problematic conditions."
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Only in Sydney and Hong Kong do you get less bang for your housing buck.
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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It was a tumultuous year.
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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.
Here are three alternatives to buying a home in a big city.
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The government is offering interest-free and payment-free loans for the first five years.
"I'm sure it was a miserable night.''