Author: Ephraim Vecina


Most Canadians are eager to buy homes – poll

While the Canadian housing market has been characterized by consistent price growth over the past few years, a vast majority of home buyers in 2019 held positive viewpoints toward the idea of purchasing a residential property, according to a new nationwide analysis by Canada Mortgage and Housing Corporation.

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Current mortgage rules are overkill – observers

The housing declines observed nationwide last month might be a disturbing indicator that the current mortgage rules are actually too heavy-handed, according to Ryerson University associate professor Murtaza Haider and real estate industry veteran Stephen Moranis.

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Reverse mortgage growth reaches 8-year high

Data from the Office of the Superintendent of Financial Institutions indicated intensified borrowing among Canadian seniors taking advantage of their housing equity, with growth of the nation’s reverse mortgage load reaching its highest point in 8 years.

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Canadian optimism flags further as 2019 starts

A significant proportion of Canadians are beginning the year with tempered expectations for the housing market and the national economy, according to the latest findings of the weekly telephone polling conducted by Bloomberg Nanos Canadian Confidence Index.

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Price levels impede activity in townhouse markets

A sustained elevation in residential prices has slowed down new townhouse sales in Canada’s top markets, according to the latest market analysis by the Altus Group.

This has become especially evident in markets where significant numbers of buyers are moving away from single-detached properties due to these assets’ pricing.

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Montreal draws ever-closer to implementing foreign buyer taxes

“We must avoid at all costs what is happening in Vancouver and Toronto, where 90% of projects are sold to investors. Montrealers must be able to own their own city,” Laurence Vincent, co-president of development company Prevel, said in an interview with Montreal-based markets observer Yury Shupilov.

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Canada’s housing starts are steadily slowing down – CMHC

Preliminary housing starts data for October 2018 are pointing to a national market that is steadily slowing down due to pressure from various factors, according to the Canada Mortgage and Housing Corporation (CMHC).

“The national trend in housing starts declined for a fourth consecutive month in October, which leaves the trend at its lowest level since February 2017,” CMHC chief economist Bob Dugan stated in the starts report.

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Cannabis shortage compounding industry’s worries

Exceeding even optimistic estimates, Canadians’ demand for recreational marijuana in the wake of the October 17 legalization has reached stratospheric heights – enough for major producers and sellers to struggle hard to keep up.

According to the Ontario Cannabis Store, it received 100,000 orders in just the first 24 hours of its operation.

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