Canada New Immigration Policy to Reshape Housing Markets, With BC and Ontario Most Affected
Image by: unsplash Canada’s new immigration policy aims to reduce population growth by limiting the influx of temporary residents (TRs), which will have varying effects across provinces. Regions like British Columbia (BC) and Ontario, with high concentrations of TRs, are likely to see the most immediate impact on housing costs as their population growth slows. Provinces […]
Young Canadians Face Setbacks but Remain Hopeful About Homeownership Amid Economic Challenges
Image by: unsplash A recent report by Scotiabank reveals a significant drop in homeownership among young Canadians, with only 26% of those aged 18 to 34 owning homes in 2024, down from 47% in 2021. Additionally, more young adults are living with family, rising to 29% from about 20% three years ago. This shift reflects broader […]
Federal Government Unveils New Measures to Boost Housing Development and Affordability
Image by: unsplash The federal government has introduced new housing measures, including support for homeowners adding secondary suites, taxing vacant land, and utilizing underused federal properties for housing. Homeowners can now refinance their mortgage to construct rental suites, borrowing up to 90% of the home’s value, with a 30-year amortization period. The mortgage insurance price limit […]
Guiding Buyers Through Condominium Purchases Identifying Red Flags and Protecting Investments
Image by: unsplash Real estate agents often enjoy their profession due to their passion for architecture and helping people find homes. However, when it comes to selling condominiums, there are additional complexities that agents should consider. Unlike single-family homes, condominiums are managed by a board of directors, and assessing a condo’s value requires more than just […]
Canadians Still Favor Single Family Homes Despite Affordability Challenges Survey Finds
Image by: unsplash A new survey from Wahi reveals that 64% of Canadians prefer single-family homes, especially in suburban (38%) and urban (34%) areas, with three-bedroom homes being the most popular choice. Despite ongoing affordability challenges, many Canadians continue to aspire to homeownership, with around 20% indicating they may purchase a home in 2024. The survey […]
Canadian Real Estate Rising Sales and Growing Listings and Market StabilityHello world!
Image by: unsplash Canadian home sales have seen a steady increase following the Bank of Canada’s first rate cut, driven by improved affordability, though sales remain below the long-term average. In August, sales volume grew by 1.3%, reaching its highest level since early 2020. Meanwhile, new listings have risen for four consecutive months, indicating that the […]
