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Showing posts from May, 2017

Zillow reported that the US national median home value in April rose 7.3% year-over-year to $198,000.

It beat the peak of Housing Bubble 1 ($196,600) set in April 2007. "It only took a decade," Zillow said.

The IMF warns of "significant" risks of Canada housing market

In a staff statement that followed an annual visit to Canada, the IMF warns of "significant" risks to future growth due to the potential for a housing market decline that impairs bank balance sheets and spreads to the broader economy.

Vacancy rate in seniors' residences drops in key regions

May 31, 2017
by via CMHC News Releases — All Releases

Almost one quarter of homeowners in Canada say they've come up short paying their bills in the last year

According to a new survey released by Manulife Bank of Canada.

CMHC releases 2017 first quarter financial report

May 30, 2017
by via CMHC News Releases — All Releases

New affordable housing opened in Moncton

May 29, 2017
by via CMHC News Releases — All Releases

Affordable housing project officially opens in Prince Albert

May 29, 2017
by via CMHC News Releases — All Releases

Ontario's Condominium Act allows that almost anyone older than 18, and who is not bankrupt, can sit on any condo board

Even if the person doesn't own or rent in the building.

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Governments of Canada and Prince Edward Island announce investment in housing

May 26, 2017
by via CMHC News Releases — All Releases

Governments of Canada and Ontario celebrate new affordable housing in Guelph and Wellington County

May 26, 2017
by via CMHC News Releases — All Releases

Governments of Canada and Ontario announce funding for violence against women's shelters across the province

May 25, 2017
by via CMHC News Releases — All Releases

Most of Canadian homeowners have to sell their houses with only a little increase of mortgage payment.

According to a new survey from Manulife Bank, nearly 75% of Canadian homeowners would have difficulty paying their mortgage every month if their payments increased by as little as 10%.

Governments of Canada and Ontario celebrate affordable housing in Northwestern Ontario

May 23, 2017
by via CMHC News Releases — All Releases

New affordable housing unit in Dawson City officially opens

May 23, 2017
by via CMHC News Releases — All Releases

Investments in Affordable Housing for seniors

May 22, 2017
by via CMHC News Releases — All Releases

Not all mortgages are portable and every lender has different policies regarding the porting of their mortgages.

Potable mortgages allows you to transfer the interest rate and all the existing terms and conditions of your current mortgage over to your new property. The advantage of "porting" your mortgage is that you automatically avoid any pre-payment fees for breaking your existing mortgage.

New tax on foreign buyers and funding crisis at mortgage lender Home Capital Group Inc. have cooled the Toronto housing market.

Home price growth in Toronto slowed in the first two weeks of May and sales fell 16 percent from last year.

America’s fourth largest city, Houston is no stranger to being top of many “best of” lists.

Ranked the Best City in America in 2014 and one of the "15 Hottest American Cities" for 2015 by Business Insider, Houston has only gotten bigger and better since. A vibrant mix of culture, business and fun awaits new residents in a city 1.8% below the national average for cost of living. With housing costs 58.8% below the national average, a strong economy and vibrant entertainment scene, Houston has something for everyone.

Federal and provincial governments break ground for new Habitat for Humanity home in Duck Lake

May 19, 2017
by via CMHC News Releases — All Releases

High speed rail corridor between Toronto and Windsor

Ontario maybe begin the process of building a high speed rail corridor between Toronto and Windsor that would cut travel times in half for passengers.

In Canada, the affordability index - the ratio of housing prices to incomes - has risen to an all-time high of 1.4.

A frenzy of buying by wealthy Chinese hoping to stash their money in Canada kept prices afloat, driving the ratio of home prices to incomes to all time highs.

Housing bubble spikes in Google Canada search

Google Trends reports a spike in searches for the phrase "housing bubble" itself.

A substantial decrease in home prices could have far-reaching effects.

People who have to spend more on their mortgages and have less borrowing power don't spend as much elsewhere.

Celebrating new affordable rental homes in Toronto

May 17, 2017
by via CMHC News Releases — All Releases

In a lot of ways Equitable has the same problems as Home Capital

They have their own specific issues.

A greater fool in housing market

People are purchasing a home not based on any fundamental value, or even because they think it's worth the price. They're buying because they think prices will always go up.

These people operate on the assumption that since prices "always go up", they can simply unload the property at any time.

The next person that buys at an inflated price likely thinks the same thing.

Record Number Of New Detached Listings in Toronto

New detached listings are hitting the market at a much higher rate than usual.

April saw 11,863 new detached listings, a more than 50% increase from the same month last year. Last month saw 9,012 new listings, which was also an increase of 28% from the same month last year.

Both numbers are higher than any monthly year over year increase observed in the past 5 years.

Visit Us Saturday, May 13th At 11:00 AM - Don't Miss Out On This Weekend's Luxury Upgrades & Incentives - The Preserve, Oakville

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Visit Us Saturday, May 13th At 11:00 AM - Don't Miss Out On This Weekend's Luxury Upgrades & Incentives - The Preserve, Oakville

Freehold Townhomes & Detached Homes Available Saturday, May 13th At 11:00 AM. Purchase This Weekend And Receive The Following Upgrades*

Freehold Townhomes
$25,000 Design Studio Credit, Or  $25,000 Off The Purchase Price 9' Main Floor Ceilings, Main Floor Hardwood, Oak Stairs, Granite Countertop,  Air Conditioner, Stainless Steel Appliances, Upgraded Master Ensuite, And Much More... Rear Lane Townhome Deposit Structure: $25K With Offer, $25K In 30 Days, $25K In 60 Days, $25K In 90 Days, $25K In 270 Days Two-Storey Townhome Deposit Structure: $30K With Offer, $30K In 30 Days, $30K In 60 Days,  $30K In 90 Days, $30K In 270 Days Click Here For Townhome Purchase Incentives Detached Homes (38', 45', 50')

Moody’s Investors Service downgraded Canada’s big six banks on Wednesday evening

Moody's Investors Service concerns about soaring household debt and housing prices. David Beattie, a senior vice president at Moody's said in a statement: "Continued growth in Canadian consumer debt and elevated housing prices leaves consumers, and Canadian banks, more vulnerable to downside risks facing the Canadian economy than in the past"

Vancouver house prices spillover to surrounding centres

May 11, 2017
by via CMHC News Releases — All Releases

CMHC releases 2016 Annual Report “Innovating for Better Housing Outcomes”

May 09, 2017
by via CMHC News Releases — All Releases

Canadian housing starts trend upwards in April

May 08, 2017
by via CMHC News Releases — All Releases

How to resell house under stressful conditions

You don't want to buy a property and then find out, after you've moved in, that you can't financially maintain it. That would mean having to resell it under stressful conditions.

Census data released this week shows that Canada is getting older.

There are now more people aged 65 and older than children in Canada for the first time.

Many mortgage lenders will not offer financing on properties that once housed a grow op.

There is an environmental risk associated with former Grow Ops that causes concern.

Lower mortgage rates can provide a small boost to refinancing activity.

The number of U.S. homeowners who could save enough to make refinancing worthwhile has jumped 46% to 4.1 million, from 2.8 million last month.

Equitable Bank is Canada's ninth largest independent Schedule I bank, serving Canadians coast to coast.

It offers a diverse suite of residential lending, commercial lending and savings solutions, including high-interest savings products and GICs. Through its proven branchless approach and customer service focus, Equitable Bank has grown to approximately $17 billion in assets under management. Most recently, Equitable Bank launched a digital banking operation, EQ Bank, and introduced the EQ Bank Savings Plus Account. Equitable Bank currently employs over 500 employees across the country.

Governments launch Housing First program in Brandon to address homelessness

May 5, 2017
by via CMHC News Releases — All Releases

New seniors housing project underway in Brandon

May 5, 2017
by via CMHC News Releases — All Releases

Federal and provincial governments support Habitat for Humanity in Saskatchewan

May 5, 2017
by via CMHC News Releases — All Releases

Registration For Freehold Townhomes Continues Today At The Preserve Sales Centre.

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TREB said there were 33.6 per cent more new listings than there were a year ago.

New listings were up by double-digits for all low-rise home types, including detached and semi-detached houses and townhouses but condominium apartments were at the same level as last year.

Toronto housing market is slowing down

The Toronto Real Estate Board has just released its numbers for April, the average selling price was up by 24.5 percent which is lower than 33% of last month, there was also a huge surge in listings.

The second phase of the very successful Downsview Park Townhomes will be coming to market this week!

These 2-3 bed stacked towns are coming to Keele and Sheppard, and will be situated in close proximity to one of Toronto's largest green spaces, Downsview Park and nearly completed subway extension. A limited release of these stacked towns will be starting from the mid $600's.

Freehold Two-Storey & Rear Lane Townhomes Will Soon Be Available In The Preserve, Oakville - View Floor Plans Today.

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Official opening of 25 new housing units for people with mental health problems in Rouyn-Noranda

May 1, 2017
by via CMHC News Releases — All Releases