Storm Batters Power Systems and Roads
Posted on Nov 18, 2015
The winds, rain and snow may have abated in British Columbia, but the damage they caused to power systems, roads and highways continues. Reports of major power outages throughout British Columbia were streaming in as a storm surged on the South Coast, with winds up to 120 kilometres an hour recorded in some parts of the province.
Wind warnings for Me...
How The New Federal Government Affect Real Estate
Posted on Nov 18, 2015
Last month, Canadians elected a new Liberal majority government. The party, led by new Prime Minister Justin Trudeau, made several promises related to real estate.For example, the Liberals have pledged to:
• Eliminate GST on new capital investments in affordable rental housing.
• Provide $125 million per year in tax incentives to increase and renovat...
Detached Houses Becoming Scarcer Commodity
Posted on Nov 16, 2015
Single-family detached houses are becoming an ever-shrinking portion of the total housing stock in the Vancouver region, adding to pricing pressures in an already hot market.The share of detached houses as a percentage of all residential properties in the region has tumbled from 65 per cent in 2000 to 54 per cent last year, Central 1 Credit Union s...West Vancouver "Dark" Houses Spark Tax Debate for Investment Properties
Posted on Nov 16, 2015
The dark houses in West Vancouver are so prevalent on some streets that Mayor Michael Smith worries about how his community is functioning.He would like to see a heavy tax on houses that are used as investments or secondary residences, just like the $20,000 a year he pays in taxes for his vacation house in Kauai, Hawaii.“As a society, we need to de...Soft landing for the housing market. Interest rate rises some way off.
Posted on Nov 16, 2015
The Bank of Canada’s deputy governor Carolyn Wilkins believes the housing market and Canadians’ debt levels are still manageable. In an interview with the Globe and Mail she said that in line with the bank’s policy reiterated last month: “the housing market and household debt are going to evolve in a constructive way.” Ms. Wilkins pointed to the im...Could Chinese Reforms Lift Canadian Housing Prices
Posted on Nov 15, 2015
Could Chinese reforms lift Canadian housing prices even higher?
China has had a rough year, with slower-than-expected economic growth, its worst export numbers since the global financial crisis and volatility in its stock markets. But the lagging Chinese economy has convinced Beijing to enact sweeping reforms that could cause ripples beyond the coun...