Canada Mortgage and Housing Corp (CMHC) said late Friday April 25, 2014 it will stop insuring mortgages on second homes, effective May 30, 2014. Anyone who has an insured mortgage will no longer be able to act as a co-borrower on another mortgage that CMHC insures. In addition, it will stop offering mortgage insurance to…
There have been numerous reports suggesting the current economy is making it hard for Generation Y to purchase their own property. While it is true for the most part, some milennials are winning the game. While most people in their 20s spend their income for social pleasure, one young adult in Toronto is taking life…
As the housing market becomes more and more expensive, and the economy not helping the youth these days, it’s natural for parents to want to help their children have their own place to live. Parents are more often than not, paying at least the down payment when helping to purchase a home for their…
When it comes to the Canadian housing market, you’ve likely heard the sensationalized phenomenon of the housing bubble that is about to burst at any moment. The conditions to this prophetic, real estate apocalypse began just prior to the 2008 global financial crisis: there was a strong economy, low interest rates, and more lenient lending…
While there’s still a chill in the air, something within us is awakening and we’re brushing off the dust from hibernating all winter. The promise of spring is soon approaching. There is a consensus among people within the real estate industry that spring is the busiest time of year for real estate, having the most…
We all want the best for our children. For years of their lives we nurture and provide for them – giving them both the emotional security to mature gracefully, and the physical security of a roof over their heads. It’s only natural to want to send your children off into the world with secure footing…
Millennials, otherwise known as Generation Y, is the demographic of young people born roughly between the late 1980s to the early 2000s. This generation has so far garnered the most attention since their notable predecessors: The Great Depression generation was defined by their frugalness and patriotism; The Baby Boomers by their optimism, and civil commitment to…
In the middle of winter it’s hard to find solace in the same four walls you’ve been hibernating in. The birds have long since flocked south, and soon, throngs of youth will be flocking to the resort beaches as well. While there’s no denying the luxury these resorts provide, why not have the best of…
As we say goodbye to 2013 and welcome in 2014, we can learn from this past year’s real estate market trends to predict expectations in the new year. According to the Canadian Real Estate Association, Canadian home sales turned out slightly better than expected in 2013 and sales will continue to increase in 2014.
Owning your first home is a big step. You no longer have to worry about rent, you can set up your home as you like, mow your lawn, and you also get invited to home owners meetings. Owning a house can be quite challenging, it is necessary to carry out research and talk with experienced…
