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  1. Canada’s inflation rate rises to 8.1% in June 2022

    Canada’s inflation rate surges even higher Fergal McAlindenother Latest figures mark the largest yearly increase since 1983 The inflation rate in Canada rose once again in June, climbing 8.1% over the same month last year in its biggest yearly increase for almost 40 years.Inflation figures released by Statistics Canada on Wednesday indicated that the measure […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    19-07-2022
    Real Estate Related

  2. Re/Max housing affordability surveyed conducted by Leger

    Many willing to relocate to find an affordable – home but not too far: Re/Max study Joseph RuttleThe Vancouver Sun Housing prices keep soaring in B.C. and other Canadian hot spots, but “the market is starting to cool and balance itself out,” says Re/Max  Not surprisingly, cities like Toronto and Vancouver didn’t fare well in a […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    19-07-2022
    Real Estate Related

  3. Bank of Canada announces a 1% interest rate increase

    What’s next for Canada’s housing market? Fergal McAlindenother A recent rate jump marks a “hammer to housing” according to a BMO economist  It’s clear that interest rate increases are having a strong impact on Canada’s housing and mortgage markets, with June marking a third straight monthly slowdown on the housing front. Home prices registered their […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    18-07-2022
    Real Estate Related

  4. Majority of metro areas rental markets went up in July

    Revealed: The most and least expensive rental markets in Canada in July Micah Guiaoother The report looks into the 23 most populous metros in the country  Although there have been signs pointing to a cooling housing market, Canada’s rental markets have never been hotter as the majority of metro areas went up in monthly value […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    17-07-2022
    Real Estate Related

  5. Canadian real estate in recent weeks has been a spike in “delistings,”

    The froth is off: Canadian houses now selling at $200K discounts Tristin Hopper The Vancouver Sun The plunge is merely a correction of a Canadian real estate market that has long operated beyond any reasonable notion of economic fundamentals  A home for sale in Mississauga, Tuesday July 5, 2022. [Photo Peter J. Thompson/National Post] The […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    17-07-2022
    Real Estate Related

  6. BoC’s intention to “frontload” policy rate could peak as early as September | CIBC

    Bank of Canada rate could peak in September, says CIBC economist Fergal McAlindenother Could one more supersized increase conclude the central bank’s rising-rate trajectory?  The Bank of Canada’s intention to “frontload” its path to higher rates means its policy rate could peak as early as September, according to a prominent CIBC economist. The banking giant’s […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    17-07-2022
    Real Estate Related

  7. The provincial economy is too dependent on large-scale in-migration to bring in capital, say economists

    Analysis: B.C. has an unusual economy because it hinges so heavily on “outside money,” say economists. How long can it go on? Douglas ToddThe Vancouver Sun   When 100,000 people move into B.C. and buy real estate and services “it creates the illusion that the economy is strong. But for me the question is, “Is […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    15-07-2022
    Real Estate Related

  8. CMHC expects housing values will remain elevated despite the price drops in both scenarios

    CMHC expects 5% decline in home prices by 2023 if interest rates spike Stephanie Hughesother But prices will not collapse, says housing agency  The CMHC report predicts home prices will fall five per cent if the Bank of Canada raises its interest rate to 3.5 per cent. Photo by National Post A surge in interest […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    15-07-2022
    Real Estate Related

  9. 405 units multi-family tower in Burnaby sells for $184.9 Million

    City of Burnaby, BC Housing buy two co-ops for $184.9 million Western Investor StaffWestern Investor Two multi-family towers with a total of 405 units will remain as co-operative housing 4221 Mayberry Street, Burnaby. BC Housing for Western Investor   Property type: Co-op housing/ Multi-family Location: 9380-9390 Cardston Crescent and 4221 Mayberry Street, Burnaby, B.C. Number […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    15-07-2022
    Real Estate Related

  10. Canada’s eight largest lenders, drop 3.8% since June 2022

    Canada’s banks battered by recession fears Stefanie Marottaother It’s the biggest drop in more than two years  Canadian bank stocks slid the most in more than two years as the first round of earnings from US lenders weighed on the outlook for the financial sector amid growing fears of a recession. The S&P/TSX Composite Commercial […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    15-07-2022
    Real Estate Related

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