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  1. The share of indebted Canadian households that were behind on their repayments for at least 60 days spiked from 1.92% at the end of 2021 to 2.16% in Q4 2022

    Bank of Canada reveals current extent of consumers’ financial risk Ephraim VecinaCMP The central bank has engaged in an unprecedented campaign of rate jumps over the past year The spate of interest rate hikes over the past year and the resulting increases in borrowing costs have led to greater financial vulnerabilities in Canadian households, according […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    on 13-03-2023
    Real Estate Related

  2. The sky-high cost of housing in Canada represented a “very serious” problem that showed little signs of improvement | Marc Meehan

    Affordability, supply remain big challenges in 2023: report Fergal McAlindenCMP Commercial real estate analysis highlights the strain being put on the multifamily sector by lack of inventory While green shoots are appearing in commercial real estate prospects for 2023, steep housing affordability challenges are likely to continue pushing Canadians into the multifamily rental sector and […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    on 13-03-2023
    Real Estate Related

  3. Canada interest rates remain high despite the Bank’s decision to hit pause on hikes

    The Bank of Canada has hit pause on rate hikes. What’s next? Fergal McAlindenCMP Further hikes in 2023 can’t be ruled out, says chief economist The Bank of Canada’s decision to leave its benchmark rate untouched in its March announcement signals a “conditional” pause that will see rates remain as they are unless economic trends […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    on 10-03-2023
    Real Estate Related

  4. TD Economics anticipating a “sizeable” slowdown in consumer spending and job losses in the US and Canada

    How serious is the risk of a recession in 2023? Ephraim VecinaCMP TD Economics breaks down the factors that could trigger a slowdown By most indications, the current risk of recession is elevated, with TD Economics anticipating a “sizeable” slowdown in consumer spending and job losses in the US and Canada, coupled with an extended […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    on 10-03-2023
    Real Estate Related

  5. The central bank will continue to seek more proof of the economy cooling and inflation decelerating in response to the rate hikes, Rogers says

    Further evidence required to keep rate unchanged: BoC deputy governor Ephraim VecinaCMP Carolyn Rogers noted that productivity “isn’t trending in the right direction so far” Despite the Bank of Canada’s latest decision to keep its benchmark interest rate frozen at 4.5%, the institution has not yet ruled our further rate hikes, according to the bank’s […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    on 10-03-2023
    Real Estate Related

  6. 27 units of multi-family rental building sells for $6.2M located 116 Prideaux Street, Nanaimo, B.C.

    Nanaimo 27-suite multi-family sells for $6.2 million Western Investor StaffWestern Investor Sale price was $100,000 over list for property close to downtown, with all rentals as one-bedroom units. It sold at a 5.09 per cent cap rate, agents say.   Macdonald Commercial, Vancouver, for Western Investor   Property type: Multi-family rental building Location: 116 Prideaux […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    on 08-03-2023
    Real Estate Related

  7. 2,794 sqft commercial building in Dawson Creek, B.C. sells for $260,000

    Dawson Creek commercial building trades for $260,000 Western Investor StaffWestern Investor The 2,794-square-foot property is zoned commercial on a large corner lot in the northern B.C. city. Re/Max Commercial, Dawson Creek, B.C., for Western Investor Property type: Commercial building Location: 1500 101 Avenue, Dawson Creek, B.C. Property size: 2,794 square feet List price: $289,000 Sale […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    on 08-03-2023
    Real Estate Related

  8. 0.83 acres land assembly in Mission sells for $3.5 Million

    Mission, B.C., three-lot land assembly sells for $3.5 million Western Investor StaffWestern Investor Assembly totals 35,000 square feet and has potential for four duplex residential lots Royal LePage Commercial/Wheeler Cheam Realty, Mission, B.C., for Western Investor   Type of property: Land assembly Location: 32568, 32578 and 32592 Williams Avenue, Mission B.C. Size of assembly land: […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    on 07-03-2023
    Real Estate Related

  9. Canada’s housing market was still in the process of correcting itself but showed signs of “gradually letting up”

    The end is nigh for Canada’s housing market downturn, RBC reports Mary OrCMP But the road to recovery is a long one uphill, it warns Royal Bank of Canada (RBC) has published its report and outlook on the country’s housing market and sees the market downturn headed towards its conclusion. Speaking for RBC Economics, Robert […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    on 07-03-2023
    Real Estate Related

  10. 9.96 acres development land sells for $5.5 Million located at 36160 McKee Road, Abbotsford, B.C.

    Near-10-acre Abbotsford development site sells for $5.5 million Mortgage Magazine Located in the emerging McKee Peak residential area, the land is destinated for ground-oriented housing, as single-detached houses, row houses or townhouses. Frontline Real Estate Services, Surrey, B.C., for Western Investor   Property type: Development land Location: 36160 McKee Road, Abbotsford, B.C. Size of land: […]

    By Les Twarog Vancouver Real Estate and Condo Blog
    on 06-03-2023
    Real Estate Related
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