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  1. New home prices flat in March say builders across Canada

    New home prices unchanged for 2nd month Steve RandallREP Builders across Canada reported flat or declining prices for new homes according to Statistics Canada. The weakness was reported in 18 of the 27 census metropolitan areas surveyed; it was the second consecutive month that new home prices were unchanged at a national level. Toronto prices […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    14-05-2019
    Real Estate Related

  2. Affordability Continues to Weigh on Housing Demand

    BC home sales were essentially unchanged from March BCREA The British Columbia Real Estate Association (BCREA) reports that a total of 6,652residential unit sales were recorded by the Multiple Listing Service® (MLS®) in April, a decline of 18.9per cent from the same month last year. The average MLS® residential price in the province was $685,304,adecline […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    14-05-2019
    Real Estate Related

  3. Trudeau says new mortgage rules cut froth in Toronto, Vancouver

    Government looking at mortgage changes Mortgage Broker News The Canadian government is monitoring whether tougher mortgage rules are having the desired effect but doesn’t favour allowing longer mortgage terms, Prime Minister Justin Trudeau said. Trudeau, speaking to an industry group Thursday, was asked about raising the maximum amortization of a mortgage to 30 years, from […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    14-05-2019
    Real Estate Related

  4. Anti-money laundering measures target Mortgage Broker Act

    Mortgage Broker Act to be overhauled Neil SharmaMortgage Broker News After last week’s bombshell reports on money laundering in British Columbia, the expert panel that prepared one of them wants the Mortgage Broker Act completely overhauled—a move the Canadian Mortgage Brokers Association-British Columbia supports. “This is the most critical one, and it’s something we’ve been […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    14-05-2019
    Real Estate Related

  5. Are Toronto, Vancouver facing an office vacancy surge?

    Vancouver vacancy rate estimated to hit 6% Steve RandallMortgage Broker News The office vacancy rates in Toronto and Vancouver are set to double by 2023 according to a new report. Research firm CoStar Group says that the vacancy rate in downtown Toronto, which was at a historic low of 2.9% in the second quarter of […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    12-05-2019
    Real Estate Related

  6. Western Canada drives rise in building permits

    Building permits in Canada rose 2% from February Steve RandallMortgage Broker News Building permits issued by Canadian municipalities in March totaled $8.1 billion, a 2.1% rise from February, Statistics Canada has reported. But the gain was dominated by an increase in Western Canada, especially British Columbia which jumped 12.8% month-over-month ($180 million) while provinces east […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    12-05-2019
    Real Estate Related

  7. BC’s REALTORS’ Welcome Government Recommendations on Money Laundering

    Panel on money laundering makes recommendations BCREA The British Columbia Real Estate Association (BCREA) is encouraged by the recommendations set out by the Ministry of Finance’s Expert Panel on Money Laundering led by Maureen Maloney. As the voice of BC’s 23,000 REALTORS®, we appreciate recommendations that will bring more transparency and accountability to all professionals […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    12-05-2019
    Real Estate Related

  8. Money laundering causes 5% price spike in B.C.

    Panel report on money laundering says home prices spiked upward Neil SharmaCanadian Real Estate Wealth An expert panel’s report on money laundering in British Columba determined ill-gotten gains contributed to real estate prices spiking 5% in 2018. Overall, $7.4 billion was laundered in the province last year, $5b of which went through real estate. But […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    11-05-2019
    Real Estate Related

  9. Most of B.C.’s dirty money laundered through real estate – report

    Report on money laundering says major influence in real estate Ephraim VecinaREP Unscrupulous elements ferried around $7.4 billion in dirty money in B.C. last year, with an estimated $5 billion laundered through the real estate market, according to an extensive analysis released late last week. The report from the expert panel led by former B.C. […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    11-05-2019
    Real Estate Related

  10. Industry weighs in on B.C. money laundering

    $5b went through real estate Neil SharmaREP In light of a blistering report on money laundering in British Columbia, industry professionals have weighed in on how the problem can be curtailed. While British Columbia ranks behind Alberta, Ontario and the Prairies in money laundering, $7.4 billion in ill-gotten gains made its way into the province […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    11-05-2019
    Real Estate Related

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