Category: Uncategorized
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BC Proposes New Legislation to Address Housing Crisis
Proposed BC legislation targets the housing crisis, focusing on changing zoning rules and bylaws for faster home construction.Emphasis on small-scale, multi-unit housing like townhomes, triplexes, and laneway homes for increased housing variety. Building regulations and zoning barriers are identified as hindrances to efficient construction, contributing to the housing crisis.
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Mortgage Rate Forecast – British Columbia Real Estate Association
Long-term Canadian bond yields are falling, which is expected to lead to a decline in fixed mortgage rates in 2024. The Canadian economy slowed in the third quarter, but it is not shrinking substantially. The Bank of Canada is likely to cut rates in 2024, with a forecasted decrease of 75 to 100 basis points…
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Things to remember if planning to seek a mortgage
As the holiday season approaches, mortgages may not be on people's minds. However, it's important to do your homework before buying a home. A young client in northern B.C. faced challenges due to a lack of credit history, despite having a significant down payment. Adding his parents to the application was a temporary solution. It's…
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BC Renters: Claim Your $400 Tax Credit in 2024!
The credit will provide $400 to every renter whose household income is $60K or less. A new tax credit in BC benefits ~80% of renter households soon. Those who make between $60K-$80K will receive < $400.
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Get the Best Current Mortgage Rate in British Columbia
Get the Best Current Mortgage Rate in British Columbia Continue to full article
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Happy New Year!
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B.C. First-Time Home Buyer Guide
The B.C. First-Time Home Buyers’ Program helps first-time home buyers reduce their closing costs. Specifically, the program can reduce or eliminate the land transfer tax (sometimes called a … Continue to full article
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BC Tops the List of the Most Expensive Provinces in Canada
BC ranks as the most expensive province in Canada based on a recent analysis. The study considered 55 contributing factors in 7 categories, including income, property prices bills, food, transport, health, and other costs.
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BC Housing Market Shows Resilience Despite Sales Decline and Rising Mortgage Rates
BC Housing Market Shows Resilience Despite Sales Decline and Rising Mortgage Rates Continue to full article
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What’s NIMBYism and How Does It Halt Housing in BC?
NIMBY, or "Not In My Backyard," is used for residents opposing local housing projects, expressing strong objections to new developments in their vicinity.BC's zoning changes aim to end exclusive detached home zones, permitting multiple homes and cutting public hearing delays.