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  1. BoC’s report new rate of 1.5%, an increase of 50 basis points

    More Balanced Market Providing Buyers with Negotiating Power: TRREB Patti Cosgareaother  The month of May saw a dip in sales on a monthly and annual basis as buyers and sellers alike eagerly awaited Bank of Canada’s announcement, in which it reported its new rate of 1.5%, an increase of 50 basis points.  Read: Top Real […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    02-06-2022
    Real Estate Related

  2. B.C. ran into issues with some of the local contractors they used.

    Contractors sued for “deficient” work on Kelowna tower Nicholas Johansen Western Investor High-rise suffered from shoddy drywall and railing work, claims developer of 14-storey, 91-unt Ellis Park residential tower  Ellis Park in downtown Kelowna was completed in 2020. | Nicholas Johansen The developer of a 14-storey residential tower on the corner of Ellis Street and […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    02-06-2022
    Real Estate Related

  3. BoC increase interest rates by 0.5 percent up to 1.5 percent

    BMO says rapid rise in interest rates forces Canadian housing market into “full retreat” Carlito PabloThe Georgia Straight  The chief economist of BMO seems to suggest that the Canadian housing market is currently on shaky grounds. Douglas Porter brought up the notion as part of a broader take about the economies in the U.S. and […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    02-06-2022
    Real Estate Related

  4. 5.5 acre multi-family in Alberta sells for $2.3 million

    Alberta 38-pad manufactured home park trades at $2.3 million Avison Young Western Investor Kalmac Mobile Home Park sits on a 5.5-acre site in Millet, Alberta, which is about 40 kilometres south of Edmonton Property type: Manufactured home park (Multi-family) Location: 7-46 Kalmac (44th) Avenue, Millet, Alberta Number of pads: 38 Land size:239,580 square feet Land […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    02-06-2022
    Real Estate Related

  5. Bank’s latest statements considering a 0.75% hike in July to tackle an inflation crisis

    ‘Aggressive’ BoC could be readying even larger rate hikes, says CIBC economist Fergal McAlindenother “You cannot just talk yourself to lower inflation… You have to demonstrate that you’re very serious”  The Bank of Canada could be laying the groundwork for even larger rate hikes than the 50-basis-point increases of its last two policy rate announcements, […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    02-06-2022
    Real Estate Related

  6. Bank’s latest statements considering a 0.75% hike in July to tackle an inflation crisis

    ‘Aggressive’ BoC could be readying even larger rate hikes, says CIBC economist Fergal McAlindenother “You cannot just talk yourself to lower inflation… You have to demonstrate that you’re very serious”  The Bank of Canada could be laying the groundwork for even larger rate hikes than the 50-basis-point increases of its last two policy rate announcements, […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    02-06-2022
    Real Estate Related

  7. Burnaby mega-development plans 5,000 homes, film studio

    Burnaby approves 40-acre Willingdon Lands project Frank O’BrienWestern Investor More than 5,000 homes, 17 towers, office space and a 450,000-square-foot film studio planned in First Nations-led developmentRendering shows concept of a mixed-use, contemporary Musqueam and Tsleil-Waututh urban village plus residential and commercial towers in a joint venture with Aquilini Development Group. | AquiliniBurnaby city council […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    01-06-2022
    Real Estate Related

  8. Vancouver’s plenty of works ahead as it targets net-zero by 2050

    Vancouver’s net-zero building commitments lag global leaders Peter MithamWestern Investor Consistent tracking of performance is a missing piece of the net-zero equationWhile the Vancouver Convention Centre and other projects have won international recognition for their green credentials, Vancouver has plenty of work ahead as it targets net-zero status by 2050.Vancouver is middle of the pack […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    01-06-2022
    Real Estate Related

  9. Greater Toronto area increase of 12% year over year in April

    Toronto condos lead GTA rental surge with 24% gain in April, report finds Denise Paglinawanother Overall rents up 12 per centDemand for downtown condo rents have skyrocketed back to pre-pandemic levels. Photo by Bloomberg filesMonthly rents in the Greater Toronto Area increased by an average of 12 per cent year over year in April and […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    01-06-2022
    Real Estate Related

  10. A 3-bedroom apartment in Port Moody rent up to $6,050 a month, or $5.08 square foot

    Port Moody apartment rents surge past $6,000 a month Mario BartelWestern Investor Furnished apartments in new Suter Brook building rent for as much as $6,050 a monthA typical living room in one of Onni Group’s Eve furnished apartments for rent in its Suter Brook development in Port Moody.ONNI GROUPA furnished three-bedroom apartment in Port Moody […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    01-06-2022
    Real Estate Related

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