Chris Helgren / Reuters
Looks like the slowdown is over already.
Home ownership costs represent a huge chunk of average earners' paycheques.
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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.
IP Galanternik D.U. via Getty Images
If you're planning to buy a house in Vancouver, you may want to stock up on some bitcoin.
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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"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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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.
The renovated two-bedroom condo is going for $868,000.