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Saturday , 28 November 2015

Category Archives: Market News

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News with a focus on real estate, finance and the marketplace

CMHC reports solid third quarter results, expects oil fallout in Prairies

Considering the state of the oil industry these days, one might expect that a lot of home owners in Alberta could be in trouble with their mortgages. As it happens, that isn’t necessarily true, at least not yet (and hopefully never). Canada Mortgage and Housing Corporation released its third quarter financial results today, and as of September 30, the number of Canadians in arrears with their mortgages was 0.35 per cent. This is around the long-term norm for arrears, and is a reflection, CMHC says, of the strength of its portfolio. Surprisingly, the arrears rate in Alberta was actually lower than the national average, at just 0.28 per cent. Just ... Read More »

Industry leaders concerned about affordability of housing in GTA

The number of low-rise homes for sale in the GTA today is nearly two-thirds lower than in 2005, according to real estate information services company RealNet Canada. Supply has fallen dramatically, but demand has not, and that can only mean one thing: higher prices. In fact, supply is so low, prices so high, that these dynamics are “redefining” the market in the GTA. Sales of new and existing homes are at record-high levels this year. As of the end of October there had been 124,123 sales. New home sales were consistent with ten-year averages, but the mix and type of new homes being sold have changed. More than 81 per cent ... Read More »

Bumpy road ahead for commercial real estate, but fundamentals solid: report

The coming year will apparently be an interesting one, a year of change, for commercial real estate investors, landlords and tenants in Canada. Much of that change will be out of their control. New technologies that are already changing how we “shop, ship, work and play” are poised to bring even greater upheavals in 2016. Global trends like energy prices, monetary policy and new technology will become more important than local realities, impacting the number of new office towers that are built, the way goods are moved from factories to consumers, and the number of foreign investors who are active in a given market. At the same time, unprecedented capital ... Read More »

Omitting property, land transfer taxes distorts tax burden in Canada’s cities:

Where are the best cities in Canada to set up a new business or expand an existing one? Business owners look at the total tax burden in a given city when deciding whether or not to invest there. A competitive tax structure gives a city a competitive advantage in attracting new business, while a heavy tax burden can drive investment away. While this seems clear and reasonable in principle, according to a new paper from the C.D. Howe Institute, Canadian governments do not accurately measure the tax burden on business investment. There are “gaps,” the paper says, because governments do not include provincial and local property taxes and land transfer ... Read More »

National housing market balanced despite wide variations from city to city: CREA

The Canadian housing market remains “balanced overall” says the Canadian Real Estate Association (CREA), and that’s saying a lot, considering. Prices and sales numbers varied even more wildly from city to city in October than they usually do. In half of all markets, sales were up; the increase was 1.8 per cent in October compared to September. This was enough to push annual sales to their second-highest level in six years. The average price of a home in Canada, with Toronto and Vancouver markets removed from the calculation, rose 2.5 per cent in October on a year-over-year basis. It’s difficult to see how anyone could characterize such modest price growth ... Read More »

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