By Fergal McAlinden Prime minister Justin Trudeau has announced a new plan aimed at solving Canada’s generational housing crisis, introducing new tax incentives and proposals to build more housing on public lands to tackle chronic supply and affordability challenges. Flanked by finance minister Chrystia Freeland and housing...
By Fergal McAlinden There were few shocks in the Bank of Canada’s decision last Wednesday to keep interest rates unchanged – but there was a surprise on the same day south of the border as US inflation unexpectedly ticked upwards by more than expected. The core consumer...
The Canadian Press·Government and Regulation·April 11, 2024 By Sammy Hudes Some advocates are praising Ottawa’s move to lengthen the amortization period on insured mortgages for certain homebuyers, but say expanding the policy to all Canadians would help make home ownership more affordable. Speaking in Toronto on Thursday, Finance...
Last updated on April 3, 2024 Learn about planned changes to help build more homes faster. Historically, zoning bylaws and rules in many communities in B.C. have made it difficult to build the type of housing that works for people. New housing has been built primarily in...
By Craig Lord Global News The Bank of Canada held its benchmark interest rate steady on Wednesday amid signs that inflation is easing, with officials acknowledging that a rate cut in June is “within the realm of possibilities.” The central bank’s policy rate, which informs lending...
Are rate cuts on the way? By Fergal McAlinden 06 Mar. 2024 The Bank of Canada has left its benchmark rate unchanged in its latest decision, keeping rates where they are for the fifth time in a row. The central bank said on Wednesday morning that it was maintaining...
Property Transfer Tax Exemptions: The 2024 budget introduces several changes to the Property Transfer Tax exemptions: 1. First-Time Homebuyers’ Program: The threshold for this program has been increased to reflect current market conditions. Qualifying first-time buyers can now benefit from a complete exemption on the first...
56% of Canadians say they postponed their property search because of higher interest rates, survey finds Author of the article:Pamela Heaven Published Feb 29, 2024 The swift rise in Bank of Canada interest rates over the past two years has forced millions of potential homebuyers to the sidelines. A...
Steve Huebl·Mortgage Industry News·February 26, 2024 The British Columbia government today unveiled additional details of its proposed house flipping tax that was first introduced in last week’s budget. The government said it plans to introduce the legislation in the spring. If passed, the new tax will take...
by Neil Sharma on 01 Nov 2022 Thinking about investing in Canadian real estate? Thanks to new municipal legislation, property investors are setting their sights on the residential market in Kelowna, British Columbia. A new piece of proposed legislation will permit the halving of existing duplex homes...