Real Estate Markets

Tech Talk for Monday May 21st 2018

Pre-opening Comments for Monday May 21st U.S. equity index futures were higher this morning. S&P 500 futures were up 15 points in pre-opening trade. Index futures responded to news that trade negotiations between China and the U.S. are progressing. Big Lots (BIG $41.64) is expected to open higher ...

Canadian home sales fall in April

Ottawa, ON, May 15, 2018 – Statistics released today by The Canadian Real Estate Association (CREA) show national home sales fell from March to April 2018. Highlights: National home sales fell 2.9% from March to April. Actual (not seasonally adjusted) activity was down 13.9% from April 2017. The ...

Longtime Vancouver home owners can’t afford tax hike

VANCOUVER —Lynne Kent says owning a home in Vancouver that’s valued at $4 million isn’t the blessing it may appear to be. She and her husband are among a small group of homeowners in British Columbia facing a tax bump on homes assessed at over $3 million who say they simply can’t afford it ...

Wasted

Internal comments from one of the Big Five show mortgage originations have choked. The decline from this time last year is in the 45% range. ‘It’s a disaster,’ was the observation. And the body count in mortgage departments is quickly changing. Be happy you don’t work there, or in a branch ...

It’s getting more confusing to shop for mortgages

iStock It’s getting more confusing these days for consumers to understand how to read the mortgage market and a big part of that is driven by competition. A few weeks ago, TD Bank jacked up the rate on its five-year fixed mortgage by almost half a percentage point to 5.59 per cent. The other ba ...

The war on stuff

When a bunch of people who live in pricey digs on the tony side of Vancouver protested the other day, the moisters were aghast. The homeowners were outraged at a new uber-property tax on houses that have soared to more than $4 million in value. After all, they didn’t force the real estate market ...

The exodus

The housing numbers last month sucked just about everywhere in BC and ON. Van and the LM, plus 416 and the GTA are unhealthy places for realtors. Sales have dropped with a thud, especially for detached houses, prices are wobbling and this is shaping up to the worst spring market in memory. Condo p ...

What does the new normal in real estate look like?

iStock MoneySense caught up with Mustafa Abbasi recently, shortly after putting together its 2018 edition of Where to Buy Now. Abbasi is president of Zolo, a brokerage and real estate data specialist. We got his take on where the market is headed next and what home buyers and sellers can expect. ...

How to lose big money in Toronto real estate

The house in Toronto was the type of property highly coveted by those in the city: fully detached on a sprawling lot, recently renovated and adorned with granite countertops, hardwood floors and a solarium. John, who asked that his name not be used for reasons that will become obvious, knew he had ...

Shed II

What comes after house porn? Crash porn, of course. And we have plenty of it on this pathetic blog which just spent the last decade telling you that it’s okay to be house horny so long as you’re balanced. Apparently millions ignored me. Yesterday it was all blood & guts from YVR and the LM. To ...