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  1. BoC’s intention to “frontload” policy rate could peak as early as September | CIBC

    Bank of Canada rate could peak in September, says CIBC economist Fergal McAlindenother Could one more supersized increase conclude the central bank’s rising-rate trajectory?  The Bank of Canada’s intention to “frontload” its path to higher rates means its policy rate could peak as early as September, according to a prominent CIBC economist. The banking giant’s […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    17-07-2022
    Real Estate Related

  2. The provincial economy is too dependent on large-scale in-migration to bring in capital, say economists

    Analysis: B.C. has an unusual economy because it hinges so heavily on “outside money,” say economists. How long can it go on? Douglas ToddThe Vancouver Sun   When 100,000 people move into B.C. and buy real estate and services “it creates the illusion that the economy is strong. But for me the question is, “Is […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    15-07-2022
    Real Estate Related

  3. CMHC expects housing values will remain elevated despite the price drops in both scenarios

    CMHC expects 5% decline in home prices by 2023 if interest rates spike Stephanie Hughesother But prices will not collapse, says housing agency  The CMHC report predicts home prices will fall five per cent if the Bank of Canada raises its interest rate to 3.5 per cent. Photo by National Post A surge in interest […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    15-07-2022
    Real Estate Related

  4. 405 units multi-family tower in Burnaby sells for $184.9 Million

    City of Burnaby, BC Housing buy two co-ops for $184.9 million Western Investor StaffWestern Investor Two multi-family towers with a total of 405 units will remain as co-operative housing 4221 Mayberry Street, Burnaby. BC Housing for Western Investor   Property type: Co-op housing/ Multi-family Location: 9380-9390 Cardston Crescent and 4221 Mayberry Street, Burnaby, B.C. Number […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    15-07-2022
    Real Estate Related

  5. Canada’s eight largest lenders, drop 3.8% since June 2022

    Canada’s banks battered by recession fears Stefanie Marottaother It’s the biggest drop in more than two years  Canadian bank stocks slid the most in more than two years as the first round of earnings from US lenders weighed on the outlook for the financial sector amid growing fears of a recession. The S&P/TSX Composite Commercial […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    15-07-2022
    Real Estate Related

  6. Westbank and Squamish nation to build 6000 units next to Burrard Bridge

    ‘This is just the beginning’: First Nations’ real estate mega projects game-changing for Metro Vancouver Dan FumanoThe Vancouver Sun Indigenous developers to build 25,000 new homes in Metro Vancouver  Wilson Williams is an elected councillor with the Squamish First Nation, photographed at the site of the planned Sen̓áḵw development. Photo by Francis Georgian /PNG Standing […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    14-07-2022
    Real Estate Related

  7. Buyers qualify both primary and secondary residences at 2%, without rental income | Deb White

    Rules are different when buying your second home Shawn ConnerThe Vancouver Sun What buyers should know before financing a recreational propertyIt’s important to know the local short-term rental bylaws when purchasing a recreation property to rent out. Photo by Stephen Bridger /Getty Images/iStockphotoVernon-based mortgage specialist Deb White sees many people buying secondary properties in her […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    14-07-2022
    Real Estate Related

  8. Home prices posted their largest monthly decrease | CREA

    Canada home prices see biggest drop since at least 2005 Fergal McAlindenother Another significant monthly decline was posted in June  Canadian home prices posted their largest monthly decrease since at least 2005 in June, according to new figures released by the Canadian Real Estate Association (CREA). The national benchmark price of a home slipped by […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    14-07-2022
    Real Estate Related

  9. BoC raises key interest rate to 2.5%, compared with 1.75% ahead of the COVID-19 recession

    Bank of Canada issues shock rate hike in effort to crush inflation Kevin Carmichaelother  Bank of Canada Governor Tiff Macklem takes part in a news conference in Ottawa The Bank of Canada delivered a jolt to Bay Street, raising its benchmark interest rate a full percentage point, the biggest one-time increase since August 1998, when […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    14-07-2022
    Real Estate Related

  10. Bank’s policy rate had grown after Canada’s inflation rate recently hit a 39-year high

    Bank of Canada announces huge rate hike Fergal McAlindenother The central bank’s rate increase is even higher than had been widely anticipated The Bank of Canada has announced a supersized rate hike, increasing its policy rate by 1% in a bid to stave off rampant inflation and curb sharp increases in consumer price growth.The move […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    13-07-2022
    Real Estate Related

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