Monthly Archives: October 2016

Month: October 2016 Home Price market correction will begin soon – National Bank

  Vancouver’s detached home prices will fall 20 per cent over the next year as the number of homes changing hands in the city continued to plunge, National Bank Financial said in a report on Friday. “In the case of vehicles of Vancouver, we consider a price correction are now beginning soon ,” National Bank economist Marc Pinsonneault said in research reports. While a correction of that magnitude sounds dramatic, the bank characterizes it as “moderate” made how high prices have clambered in the city. In his report, Pinsonneault said Ottawa’s new mortgage regulations will have a cooling effect, but

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Month: October 2016 New mortgage rules ‘not the end of the world’ in Toronto – Builder

  While the Toronto condominium market will certainly feel the stifle effects of the recent changes to federal rules governing mortgages, a renowned builder and real estate broker argued that such adjustments will not necessarily lead to cost corrections and sales decline in the city.In toronto real estate, “It’s really not the end of the world,” Brad Lamb told CBC News .“The market here is so well supported with employment. There are shortages of rentals, shortages of purpose-built rentals, and shortages of anything to buy,” he elaborated.” I think it’s a whole lot of nothing .”   Lamb added that

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Month: October 2016 Toronto home customers look to buy condos which are now getting larger

  In toronto real estate, Toronto-area builders say a shortage of low-rise homes continues to push people into condominium apartments, which are increasing in size for the first time in years to satisfy the demand. “The recent increase in high-rise costs can be attributed to the rise in median suite size, combined with a growing price per square foot ,” said Brian Tuckey, chairman and chief executive of the Building Industry and Land Development Association (BILD), in a release.” This year we have find the introduction of larger suites aimed at purchasers who have been priced out of the low-rise

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Month: October 2016 GTA Realtors Rlease September, 2016 Resale Housing Market Figures

  In toronto real estate, on October 5, 2016, Toronto Real Estate Board President Larry Cerqua announced that Greater Toronto Area REALTORS reported 9,902 marketings through TREB’s MLS System in September 2016. This ensue was up by 21.5 per cent compared to September 2015. For the region as a whole, strong annual rates of sales growth were experienced for all major home types. The pace of detached sales growth was slower in the City of Toronto and the number of semi-detached sales was down compared from last year. In both cases, the year-over-year dip in new indices was likely the issue.

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Month: October 2016 Housing in Canada overheating but don’t expect a collapse, a new report

  In toronto real estate, forget all the housing crash talk says a new report that indicates prices acceleration in Canada’s housing market will slow down without any hard landing. Moody’s Analytics, which utilized the Brookfield RPS house price index for its frameworks, is of the view that prices in Canada will slow down as some markets, especially Vancouver and Toronto, find homes become overvalued and less affordable while international capital inflows slow down.   “We are predicting that the housing market will slow down, in terms of house price growing, significantly ,” said Andrew Carbacho-Burgos, an economist with Moody’s

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Month: October 2016 CMHC elevates red flag about housing, warns of Toronto, Vancouver price spillover

  In toronto real estate, the head of the federal housing agency is elevating a red flag about the state of Canada’s real estate sector, saying affordability fears have spilled over from the country’s two most expensive cities to nearby markets. In an article published Monday in the Globe and Mail, CMHC CEO Evan Siddall says the agency will raise its overall peril rating for the national housing marketplace to “strong” from “moderate” for the first time when it issues its housing marketplace evaluation on Oct. 26, 2016. ” Affordability pressures suffered lower-income households the most and induce real socioeconomic consequences

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Month: October 2016 New mortgage stress exam regulations kick in

  In toronto real estate, new regulations aimed at inducing it harder to get a mortgage take effect today, October 17, 2016, a move that is bound to have an impact on demand for homes in Canada. Earlier this month, Ottawa announced the moves, which boil down to a stress exam for all insured mortgage applications. It consists of testing to determine if a borrower could render to pay back a loan if the rate goes higher, so they judge the borrower against the five-year standard rate of 4. 64 per cent for a five-year loan — even though many

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Month: October 2016 Major changes to Canada’s housing and mortgage lending rules

  In toronto real estate, the Liberal government has announced sweeping changes aimed at ensuring Canadians aren’t taking on bigger mortgages than they can afford in an era of historically low interest rates. The changes are also meant to address concerns related to foreign buyers who buy and flip Canadian homes. Below is a breakdown of the four major changes Finance Minister Bill Morneau announced Monday. The current rules In toronto mortgage, buyers with a down payment of at least 5 per cent of the purchase price but less than 20 per cent must be backed by mortgage insurance. This

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