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The first time I heard the line "you're not stuck in traffic, you are traffic" I immediately liked it. People tend to ignore their participation and impact on a situation and often believe things are happening to them, not because of them. I wanted to explore this concept as it applies to the Canadian real estate, specifically the Vancouver and Toronto metro area housing markets.
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"[Ontario] doesn't have a choice."
Tax evaders are using homes to bring money from high-tax jurisdictions into Canada. Since they can't just move fat wads of cash without attracting scrutiny, they've come up with several techniques. Using soft assets that don't have fixed trade values (like homes) is one of the easiest ways to do it.
Vancouver gained. But the gains were lower.
Prices up more than 17 per cent in a year.
Vancouver softens and Toronto looks to maintain its momentum.
"The short supply of single-family homes ... coupled with strong demand" is something to watch.
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"You have to be prepared to risk in order to have great reward."
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"Parking is always an issue, especially if you're trying to sell a family home."
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There's a difference between selling and selling well.
The fact Firecracker and Wanderer have eschewed real estate in favour of an early idleness, and are actually of Asian (!) heritage, has turned a lot of newsroom cranks. After saving madly, living on air and investing their 500 grand (with me), these guys ended up claiming to be the nation's youngest retired millionaires. My callers? Not so much. The liquid assets among 35-year-olds who have been working for seven or eight years is breathtaking. There aren't any. Instead, all the cash has gone into lifestyle, a soul-sucking condo or repaying student debt. The kids basically have no idea what an RRSP is, or an ETF, and equate a TFSA with a high-interest savings account at the bank.
The government of B.C.'s decision to impose a 15 per cent hike in Land Transfer Taxes for foreigners who buy real estate in metro Vancouver will do almost nothing to lower high housing prices. It will, however, generate even more money for a government that has already profited enormously from foreign nationals.
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Every city has its hotspot -- the coolest community, the hippest 'hood. It's the place where the stylemakers go, where the trendsetters do their thing. It's about knowing where to go, where to be seen.
Vancouver's foreign homebuyers tax has given rise to concerns that it could exacerbate Toronto's housing market.
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With prices at record highs, several industry insiders are speculating detached homes will soon be unattainable, pushing would-be buyers further toward more affordable options. Namely stacked townhomes and condo apartments -- even in the suburbs.
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But you'll hear a different theory if you ask someone else.
But only if you live in one of the "hot" cities.
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When Canadians return from celebrating the Canada Day long weekend, they can expect early July to be hot with discussion of potential changes in mortgage regulations and housing policy. Again. Only this time, the changes could have some real teeth to them.
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Affordability in Toronto is the worst since the 1990 housing bubble. In Vancouver, it just hit the worst level ever recorded anywhere in Canada. It's time to admit it's not enough to slow house prices -- they have to come down.
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Gone are the days when you could find a bounty of them on the market.
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"The party will come to an end."
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Housing and rental markets aren't quite as clear cut as we'd like to believe. Which means if you're looking to live in Vancouver, New York, Los Angeles or other so-called "cost-prohibitive locations," there may be more options than you realize.
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Some say the ruling doesn't differ much from the status quo.
But somehow, prices keep going up.
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"This particular deal was difficult."
It's important to note that many of the residential neighbourhoods on this list are not necessarily riddled with crime. In fact, some of these neighbourhoods are generally safe and sought-after areas within their respective cities -- which is a potential reason why they have become targets for breaking and entering.
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TD Bank sees a possible "soft landing."
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Renting or buying? The bottom line is that everyone needs a place to live. We've all heard the endless debates of which option is best. The short answer to this topic is quite simple -- it all depends on preference.
You might say it could make you the king of Kingston. *Wah-wah*
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TORONTO -- The Toronto Real Estate Board prevented competition and stifled digital innovation by prohibiting its realtor members from posting sales data on their websites, the Competition Tribunal say...
Some things never change.