Category: Uncategorized
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BC Renters Pay More Despite Getting Fewer Amenities Included
British Columbia is one of Canada's most expensive rental markets. A recent Statistics Canada study revealed that 7 in 10 Canadian renters have water and municipal services included in their rent. ~33% of renters receive electricity, and ~50% do not pay extra for parking.
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Decline in BC Housing Starts Expected
BC housing construction facing downturn amid escalating challenges.Banking institutions' hesitancy further complicates construction financing. Rising costs for building materials and mortgage rates hinder new projects.
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Housing Policy Considerations for BC Budget 2024
BC initiated Budget 2024 consultations, gathering recommendations on housing and related issues. Housing supply and affordability concerns led to suggestions for incentives, better coordination, and data access. Rental housing recommendations included means-tested support, pet-friendly housing, and senior housing improvements.
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Happy Canadian Thanksgiving
The perfect opportunity to embrace your inner "foodie" and unbutton your pants at the dinner table!In Canada, post-Thanksgiving is all about creative cranberry sauce solutions. Cranberry sauce pancakes, anyone?It's that time when multiple ovens are a blessing. Turkey, pies, casseroles – less stress!
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B.C. will take ‘bigger role’ in addressing short-term rentals, housing minister says
BC's Housing Minister Ravi Kahlon has confirmed that the province will introduce new legislation in the fall to take a bigger role in addressing short-term rentals. This comes in response to a McGill University study which found that British Columbia's renters are paying 20% more than they should due to the impact of short-term rentals.…
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Bc’s Housing Affordability Improved in Mid-Q3
Housing affordability declined in August across Canadian provinces except British Columbia. British Columbia is the only province where affordability improved slightly. Buyers in BC still require ~$200K in annual income to qualify under the federal stress test.
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Best 10-Year Fixed-Rate Mortgages In Canada For September 2023
This article reviews the best 10-year fixed rate mortgages in Canada for 2023. We reviewed 100 mortgage lenders that do business both online and in-person throughout Canada, and the lenders we reviewed represent some of the largest mortgage lenders by volume in Canada. Locking in your mortgage at a competitive interest rate for an extended…
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Canadians Embrace RBC’s Home Savings Account
RBC reports strong initial interest in the FHSA program for tax-free down payment savings. Since April 1, tens of thousands of Canadians, primarily aged 25-34, have opened FHSA accounts, with 56% being younger clients.
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Will the Bank of Canada raise rates again?
The Bank of Canada has decided not to raise rates in September, but James Laird, co-CEO of Ratehub.ca and CanWise president, believes borrowers cannot afford to be complacent about future interest rates. The Bank has indicated that it is willing to raise rates again if economic indicators do not turn out as expected. Laird advises…
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Canadian Real Estate Experts Divided on Impact of Bank of Canada Pause
Experts are divided on the potential impact of the Bank of Canada's (BoC) decision to pause interest rate hikes on the real estate market. During the previous pause, home prices experienced a surge, however, this time around there are factors such as increased inventory, a softer job market, and higher mortgage rates that suggest a…