Real Estate Markets

Tech Talk for Tuesday February 20th 2018

Pre-opening Comments for Tuesday February 20th U.S. equity index futures were lower this morning. S&P 500 futures were down 18 points in pre-opening trade. Wal-Mart dropped $6.39 to $98.39 after reporting slightly lower than consensus fourth quarter earnings. The company also lowered guidance. Ho ...

Curb the enthusiasm

It was a bust. Of course. When it comes to being pissed about unaffordable houses, it’s a lot easier to Tweet than it is to show up and, like, wave a sign. So a protest in Vancouver expected to “draw thousands” this weekend attracted about two hundred, at least half of them organizers. Inclu ...

Being rational

Last Friday we learned 88,000 jobs offed in January. As Ontario’s new minimum-wage law took effect, losses for part-timers hit a record. Adios 147,000 paycheques. As this week concludes, the news about real estate is just as bad – the largest-ever sales plop, down 14.5% across the nation in 31 ...

Canadian home sales drop in January

Ottawa, ON, February 15, 2018 – Statistics released today by The Canadian Real Estate Association (CREA) show national home sales fell sharply in January 2018. Highlights: National home sales declined by 14.5% from December 2017 to January 2018. Actual (not seasonally adjusted) activity was down ...

Orange crush

Poor Van. What a perfect storm brews. According to high-flying local brokerage Angell Hasman, it’s already here. Next week it gets worse. After that, the world-famous stoner West Coast smirk may be gone foreveh. Here are some facts AH’s clients recently received under the headline, “The Trut ...

Strata Wind-Up and Sale Process: A Practical Overview

By Connor Bildfell Introduction As reported in a previous blog post, the B.C. Strata Property Act[1] was recently amended to make it easier for strata corporations to wind themselves up. As of July 2016, 80% approval now suffices, provided the resolution is subsequently confirmed by the B.C. Supre ...

Is Property Transfer Tax Reform on the Horizon?

By Madeleine Hawkins and Leisa Hickey The Property Transfer Tax Act (British Columbia) could soon be amended to impose property transfer tax (“PTT”) on beneficial transfers of real estate.  The NDP-Green Party Coalition Government budget, scheduled for release this month, is expected to focus ...

Not good

This got Dan’s attention. “My wife works at one of the big five banks,” he says. “Front lines. She has, by the clients’ requests, transferred mortgages to HELOCs, so they can pay interest-only. I can’t find any data or charts on this, but it definitely has the potential to become a wor ...

The unloved

Over the next few days and weeks expect lots of ink on what a mess real estate’s turned into. Once the media gets tired of manshaming, it’ll be houseshaming time. Bad sales numbers, falling prices, moisters moaning they paid too much last spring and wrinklies trapped in properties they were to ...

Grossed

There are about 120,000 realtors in Canada, a third of them in the GTA and 22,000 in BC. Selling, financing, insuring, staging and appraising houses has become a huge business over the past decade. Since the credit crisis it’s emerged as one of our fastest-growing industries, which is interestin ...