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Canada vs. USA: Which Housing Market Has It Worse?

Posted in Appraisal, Bylaws / Regulations, CMHC, Communications, Development, Employment, Finance, Housing, Industry Trends, Newsworthy, Real Estate Law, Rent Control

Canada vs. USA: Which Housing Market Has It Worse?

A decade has passed since the collapse of Lehman Brothers, the largest bankruptcy case in history, which fueled the global financial crisis of 2008-2009. We investigated how the housing markets have changed these past 10 years in two of the world’s most influential nations, Canada and the U.S. Our researchers examined the real estate metrics from 2008 and 2018 and put together a side-by-side comparison to determine which country has it worse. . Here are a few takeaways that you might want to...

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Montreal: Immigrant and Identifiable Non-Resident Buyers

Posted in Appraisal, Bylaws / Regulations, CMHC, Communications, Development, Finance, Housing, Industry Trends, Newsworthy

Montreal: Immigrant and Identifiable Non-Resident Buyers

Home purchases by non-resident buyers have been drawing attention lately. Most of the discussion has centered on the Vancouver and Toronto markets. However, since Montréal is also a major urban center in Canada, it is also important to continue to monitor the situation of non-resident buyers on the Montréal housing market. In our latest Housing Market Insight for Montréal, we update data from our previous report (September 2017) to see what the latest trends are so far in 2018. We also suggest...

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Vancouver condo prices are falling. So why are developers launching more condos this fall?

Posted in Appraisal, CMHC, Communications, Development, Finance, Housing, Industry Trends, Newsworthy

Vancouver condo prices are falling. So why are developers launching more condos this fall?

Despite declining prices, developers have ramped up condo launches in Vancouver this fall, according to real estate marketing and analysis firm MLA Canada. This month has seen developers bring more than 2,300 new condo units to market across Greater Vancouver and the Fraser Valley, surpassing MLA’s earlier forecast of 2,086 units and 17 projects. It was the busiest month of the year for launches. In October 2017, a little more than 1,600 pre-sale units were released, by MLA’s count. The annual...

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Bank of Canada likely to raise rates despite soft data: Economists

Posted in CMHC, Communications, Development, Finance, Housing, Industry Trends, Newsworthy

Bank of Canada likely to raise rates despite soft data: Economists

There is little doubt the Bank of Canada will raise interest rates next week, despite a pair of soft economic reports Friday, as the overall economy remains strong and the weight of trade uncertainty has finally been lifted, according to some analysts and economists. “I don’t believe that this is going to materially change the Bank of Canada’s longer term perspective, that this is an economy operating at capacity and that normalization of interest rates is required,” Frances Donald, head of...

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Canadian Home Construction Takes A Plunge In The Middle Of A Population Boom

Posted in Appraisal, Bylaws / Regulations, CMHC, Communications, Development, Finance, Housing, Industry Trends, Newsworthy

Canadian Home Construction Takes A Plunge In The Middle Of A Population Boom

Canada’s housing market slowdown, which began with a drop in sales, is now spreading to home construction. Housing starts in Canada have fallen steeply in recent months as the country’s developers react to a slowdown sales brought on by rising interest rates, tough new mortgage rules and historically poor levels of home affordability. But the timing is wrong: Population growth has accelerated, and we may now not be seeing enough construction to keep up with demand. The number of...

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High-rise condo developments lose steam in 2018, amid demand for mid-rise projects: Urbanation

Posted in Appraisal, Bylaws / Regulations, CMHC, Communications, Development, Housing, Industry Trends, Newsworthy

High-rise condo developments lose steam in 2018, amid demand for mid-rise projects: Urbanation

The GTA new condo market was dominated by a wave of high-rise launches in 2017. But this year, towering condo projects may be replaced with some more modest counterparts, according to a new report from Urbanation. There were just 27 launches of condo projects taller than 12 storeys in the first half of 2018, a 34 per cent drop from the 41 projects that launched during the same period in 2017. Meanwhile, there were 15 launches of mid-rise buildings under 12 storeys, down just slightly from...

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Vancouver Takes Step Towards Densification, Allows Duplexes In Single Family Home Areas

Posted in Appraisal, Bylaws / Regulations, CMHC, Communications, Condo Conversions, Development, Finance, Housing, Industry Trends, Newsworthy, Real Estate Law

Vancouver Takes Step Towards Densification, Allows Duplexes In Single Family Home Areas

Mayor Gregor Roberts says it isn’t a “silver bullet” that will solve the housing crisis — but it’s an “important” change. Vancouver councillors have ended two days of public hearings by voting to allow duplexes in most city neighbourhoods currently restricted to single-family homes. Mayor Gregor Robertson says the decision is another step toward adding homes in the city for the so-called “missing middle,” which includes young families pushed out...

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NEW TRADE DEAL REACHED: Canada, U.S. agree to NAFTA replacement that includes Mexico

Posted in Bylaws / Regulations, Communications, Development, Employment, Finance, Industry Trends, Legal, Legislation, Newsworthy, Tax Law

NEW TRADE DEAL REACHED: Canada, U.S. agree to NAFTA replacement that includes Mexico

U.S. President Donald Trump is set to sign a successor to the North American Free Trade Agreement that will make modest revisions to a deal he once called a “disaster,” easing uncertainty for companies reliant on tariff-free commerce. U.S. and Canadian negotiators worked around the clock this weekend to secure an agreement just before a Sunday midnight deadline, allowing leaders from those nations and Mexico to sign the accord by late November. The 24-year-old NAFTA will now be superseded by...

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Power returning after Environment Canada confirms two Ottawa tornadoes

Posted in Appraisal, Bylaws / Regulations, Communications, Development, Events, Exterior Building, Finance, Health & Safety, Housing, Insurance, Newsworthy

Power returning after Environment Canada confirms two Ottawa tornadoes

Hydro crews were at work this morning trying to untangle and repair fallen power lines, some of which snapped like twigs in the Friday tornadoes that hit the Ottawa area. Ontario Premier Doug Ford said Saturday night he was planning to visit the affected areas sometime today. “We’re going to do whatever it takes to help them get back on their feet,” Ford told his annual Ford Fest barbecue in Vaughan, Ont., on Saturday. “We want you to know that the entire province stands with you and is...

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Tornado tears through Ottawa and Gatineau area, causing injuries

Posted in Appraisal, Communications, Development, Exterior Building, Finance, Health & Safety, Housing, Newsworthy

Tornado tears through Ottawa and Gatineau area, causing injuries

A tornado ripped through the Ottawa area Friday afternoon, damaging homes and vehicles as severe thunderstorms and high wind gusts also pounded southern Ontario. Extensive damage to houses was reported by residents in Ottawa and in nearby Dunrobin. In Gatineau, Que., cars were overturned on Highway 50, said Environment Canada, which confirmed a tornado had touched down in the region. Approximately 25 people were injured in the storm and at least six were taken to hospital for treatment, the...

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