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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.
"The party will come to an end."