Canada’s multifamily housing market robust: report

Vacancy rates below 10-year average, rents on the rise: CBRE

Canada’s multifamily housing market robust: reportCanada’s multifamily housing market is the most robust it has ever been, , according to CBRE’s new Canadian Multifamily Mid-Year Update. Apartment buildings are practically full from coast to coast and rental rates are at or near 10-year highs in almost every market, according to CBRE. The commercial real estate firm’s report said the national…

Making home buying and selling as painless as possible

Ryan Mracek of Keylo wants the online realtor referral service to be the place consumers go to get unbiased, data-based real estate advice

Making home buying and selling as painless as possibleRyan Mracek is owner of Keylo. What is Keylo and what does it do? Mracek: Keylo is Canada’s largest realtor referral service. We use an evidence-based approach to find the best realtor to buy or sell your home for free. We put the odds of success in your favour in an industry notorious for holding…

Cash-strapped Canadians using homes as ATMs to pay off bills

Overall consumer credit balances continued to grow in the second quarter – up to $1.88 trillion

Cash-strapped Canadians using homes as ATMs to pay off billsCash-strapped Canadians may be treating their homes like ATMS to pay off their bills, says a study by MNP Ltd. In a news release on Tuesday, the largest insolvency firm in Canada said three in 10 Canadian homeowners with a home equity line of credit (HELOC) say they have used the funds borrowed to pay…

Canadian household credit growth slows for second straight month

But Scotiabank report says total borrowing by individuals rose by 3.7% month over month

Canadian household credit growth slows for second straight monthCanadian household credit growth decelerated in June as the slowing pace of mortgage expansion more than offset an acceleration in consumer credit, according to a new report by Scotiabank Economics. Home equity line of credit loans (HELOCs) remained flat in June, remaining on a weaker trajectory following strong increases through 2017 and 2018, it said.…

Growing number of households outsourcing meal preparation

Kitchen stoves could soon be following the sewing machine as unnecessary household appliances

Growing number of households outsourcing meal preparationFor many of us, the kitchen has always been a sacred place in our homes, often referred to as the heart of the home. But kitchens seem to be losing their lustre. An increasing number of condos and apartments are being sold and rented without a stove. In pricey Yorkville, one of Toronto’s most expensive…

CMHC nudging more aggressively into housing market

The risk of housing price declines piles onto the risk CMHC already takes on when insuring mortgages

CMHC nudging more aggressively into housing marketCanada’s federal government will soon participate in the property bubble in a direct, equity-owning way through its new First-Time Home Buyer Incentive. But the merits of the program are questionable. Since the end of the Second World War, it’s been federal government policy to help low-income would-be home buyers via Canada Mortgage and Housing Corp.…

App gives real estate relationships a leg up

Tarynn Liv Parker of Listing Llama talks about helping people build a real connection with a realtor before listing or buying a home

App gives real estate relationships a leg upTarynn Liv Parker is CEO of Listing Llama. What is Listing Llama and what does it do? Tarynn: Listing Llama is a free app available in the Apple App Store, Google Play Store and online at listingllama.com. Our free tool helps home buyers and sellers to find the realtor who is right for them. It…

Mortgage restrictions force millennials to abandon home ownership

The result has significantly dampened the Canadian economy. Banks, not legislated stress tests, know best who can pay for houses

Mortgage restrictions force millennials to abandon home ownershipAn uproar is brewing over real estate in Canada, fuelled by a misguided attempt to protect willing homebuyers from themselves. Owners see prices declining, while prospective first-time owners find themselves locked out by mandated stress tests. The federal regulator should ease stress-test requirements – if not eliminate them altogether – before they cause further harm…

Canadians not financially prepared to support aging parents

Survey also says less than one-in-three Canadians are familiar with helpful tax credits, grants and other financial tools

Canadians not financially prepared to support aging parentsA new survey indicates Canadians are not financially prepared to support their aging parents. The survey, commissioned by FP Canada and Chartwell Retirement Residences, found that many Canadians expect that providing financial support to their elderly parents will have a major impact on their personal finances. It also found than less than one-in-three Canadians say…

Try-before-you-buy concept used to sell home

Realtor said the owners are offering a stay of about a week but everything is negotiable in real estate

Try-before-you-buy concept used to sell homeYou wouldn’t think of not taking a vehicle out on a test drive before making one of the biggest purchases in your life. So why not a home? A Calgary homeowner who has listed a property for sale is taking the same concept and adapting it to the real estate industry. The seller is offering…