It’s no secret that Canada is currently in the throes of a housing market cooldown, with the pace of home sales falling in April and national house prices also on the way down. New figures released by the Canadian Real Estate Association (CREA) revealed that the country’s home price index fell 0.6% between March and…
The head of the CMHC delivered a particularly discouraging forecast while testifying remotely before the House of Commons Finance Committee back in May. Among Evan Siddall’s predictions were: Home prices could fall from their peak by 9% to 18% over the next year Mortgage deferrals could jump to 20% from 12% by September Mortgage arrears could top…
Also known as cliff vesting, it’s the process by which employees earn the right to receive full benefits from their company’s qualified retirement plan account at a specified date, rather than becoming vested gradually over a period of time. The vesting process applies to both qualified retirement plans and pension plans offered to employees. The CMHC’s CEO Evan Siddall…
In last Wednesday’s blog, we took a look at some of the factors that made the real estate market in Canada a difficult one to enjoy, and couldn’t put the blame on one thing in particular. It was not a particularly positive update to share, but at least things were made more sense of. This…
We recently wrote about and shared a story about the CMHC wanting to help all young Canadians buy homes by proposing a shared equity plan. As intriguing as this idea is, many suggest it’s a strange idea and probably will not benefit anyone in the long run. The federal government proposed a budget that includes…
New week, almost new month, and it’s already springtime! January may have gone by slowly, and now we’re already looking at the summer… What has this meant in the Canadian economy and the real estate market? The federal government announced the 2019 budget last week, and without going into too many details, have launched a…
It’s a weird ride so far for Canadian homebuyers. Outside investments, income that is not rising the way they wish, and the mortgage stress test all affecting their big plans for a home of their own. There are three things strongly in their minds when they think of investing in real estate: 1) The fear…
This weeks’ blog is a Q&A we read about with real estate experts, who gave some advice on some important things to consider before signing a purchase contract for your new condo. Q: Who should I consult with when I want to purchase a condo? The CMHC suggests that prospective buyers consult with a real…
Our last blog showed an analysis of the nationwide real estate market during the month of September, where prices had gone up and in most cases, sales as well. The real estate market in the country has generally been doing well, especially with rise of foreign investors on the West Coast. But are things set…
Big news for the real estate market! The market for houses with basement apartments may soon be getting more attention. The Canada Mortgage and Housing Corporation (CMHC) has announced it will now allow 100% of the rental income from legal secondary suites to be used when qualifying for a mortgage. Currently it allows just 50%….
