National housing market faces shakeup

Ben Myers of Bullpen Research & Consulting talks about how markets are changing across the country

National housing market faces shakeupBen Myers is president of Bullpen Research & Consulting Inc. What does your research tell you about today's consumer and what they’re looking for in a new home? Myers: Location remains the top priority for buyers, that hasn't changed. However, different demographic segments have much different priorities after location. In speaking with realtors and developers,…

Canadian MLS sales take steep drop in February

The housing sector is on track to further reduce waning Canadian economic growth: CREA report

Canadian MLS sales take steep drop in FebruaryMLS home sales in Canada dropped 9.1 per cent in February from January, reaching the lowest level since November 2012, according to a report released Friday by the Canadian Real Estate Association. The month-over-month decline was the largest recorded in Canada since the introduction of the mortgage stress test in January 2018. “The number of…

Feds should stop trying to fix Canadian housing markets

That’s a job better left to municipal and provincial governments, which can actually have an impact on supply and demand

Feds should stop trying to fix Canadian housing marketsBy Josef Filipowicz and Steve Lafleur The Fraser Institute Late last month, Finance Minister Bill Morneau said the federal government is considering ways to make housing more affordable for millennials. While he didn’t mention specifics, a one-size-fits-all plan for the entire country isn’t likely to solve housing affordability woes in expensive cities like Toronto and Vancouver.…

Innovative, sustainable custom home designs still draw clients

Kathy Yuen of Phase One Design talks about how to build an award-winning company from scratch, even during downturns

Innovative, sustainable custom home designs still draw clientsKathy Yuen is president of Phase One Design. Tell me about Phase One Design. How it got started, why, where you’re located and what you do? Yuen: Phase One Design is a residential design firm. We specialize in the architecture of luxury custom homes (not to be confused with interior design). How did it all…

Canadian home sales plunge in December

The average MLS sale price of $496,696 was down 4.9% in the final two months of 2018

Canadian home sales plunge in December(Troy Media) Canadian MLS sales fell by 2.5 per cent in December from November, capping the weakest annual sales since 2012, says the Canadian Real Estate Association. According to its monthly MLS report, which was released on Tuesday, CREA said monthly declines in activity since September have fully retrenched its summer rally and returned it near…

Provinces, municipalities key to avoiding housing bubble

Zoning, building codes and construction trade regulations all fall under the jurisdiction of these governments

Provinces, municipalities key to avoiding housing bubbleRecently, the Bank of Canada voiced concerns about the Canadian economy, leading it to slash outlooks on future trends. One of the issues contributing to this pessimistic stance is the condition of housing markets in Canada. Housing construction activity and prices are falling after a long period of price increases that fuelled claims of a…

Navigating the cannabis cultivation question when buying real estate

Ryan DeLuca of the Calgary Real Estate Board talks about what a buyer can ask and what a seller must disclose about pot

Navigating the cannabis cultivation question when buying real estateRyan DeLuca is supervisor of training and compliance, member practice, with the Calgary Real Estate Board. What are the biggest potential impacts to the residential housing market of the legalization of cannabis? DeLuca: For some buyers, cannabis cultivation in a property may affect their ability to secure financing or homeowner’s insurance on that property. Some…

Bridging the gap between renters and landlords

Mark Hawkins talks about how Rentfaster.ca evolved from a small local website to a national brand by stressing customer service

Bridging the gap between renters and landlordsMark Hawkins is president and owner of Rentfaster.ca. What is RentFaster? When did it start and how does it work? Hawkins: Technically, Rentfaster.ca is an Internet listing service (ILS), but really it’s a website that’s designed to help landlords and renters connect. Rentfaster.ca started in 2003 and has evolved over the years to really help…

Millennials giving up on ever owning a home in a Canadian city

It now takes 53.5 per cent of your income to service the costs of buying a single-family home

Millennials giving up on ever owning a home in a Canadian cityThe proportion of household income needed to service the costs of a single-family home grew to 53.5 per cent in the first quarter of 2018, according to a report released Wednesday. And that is one reason Canadians, especially millennials, are abandoning their dream of ever owning housing in the city and and are now looking to…

Investment in new Alberta housing construction dips

But spending on apartment building construction in the province rose following several consecutive year-over-year drops

Investment in new Alberta housing construction dipsInvestment in new housing construction declined by 6.4 per cent year over year in Alberta to $711.6 million in July, says Statistics Canada. In a report released on Thursday, the federal agency also said that in Canada investment in new housing construction increased 1.7 per cent year over year to $5 billion in July. The…