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CMHC conducting research on foreign ownership of Canadian real estate: documents

TORONTO – Data indicating how much of Canada’s real estate is being snatched up by foreign buyers is scant, but the country’s national housing agency is working to change that.

In a briefing note dated May 15, 2015, obtained by The Canadian Press through an Access to Information request, Canada Mortgage and Housing Corp., says it […]

By |September 24th, 2015|Uncategorized|0 Comments

Canadians’ mortgage debt ramping up fast as cheap money fuels leap in luxury home prices

From @Financial Post

A new report from the Canadian Imperial Bank of Commerce says prices for the country’s most expensive high end homes are rising much faster than the overall market, skewing average values.

The report from deputy chief economist Benjamin Tal was released Wednesday and shows the top 10 per cent of detached homes in Vancouver, […]

By |September 16th, 2015|Uncategorized|0 Comments

From @VancouverSun “Tinkering with housing market could be dangerous to economy”

Tinkering with housing market could be dangerous to economy
When Premier Christy Clark threw cold water on Vancouver Mayor Gregor Robertson’s call for measures targeting foreign homebuyers to cool the housing market — steps that have been taken in Australia, the U.K. and Singapore — she said such interference would have little effect on housing prices.

More […]

By |July 25th, 2015|economy, mortgage news, real estate news|0 Comments

Can this B.C. couple afford to upsize and rent out their current home? from @GlobeandMail

Natalie and Norm own a small house in British Columbia that they are quickly outgrowing. He is 43, she is 35. They have two pre-school-age children.

Both have good jobs with defined benefit pension plans. Together they bring in about $163,000 a year plus rental income of more than $1,000 a month from their basement apartment.

“Our […]

By |July 20th, 2015|Uncategorized|0 Comments