The Canadian Mortgage and Housing Corporation (CMHC) released a report yesterday stating that new home construction will moderate from historically high levels, to reach just under 178,000 units in 2009.
“High employment levels, rising incomes and low mortgage rates have continued to provide a solid foundation for healthy housing markets this year,” said Bob Dugan, Chief [...]
The influential international relations magazine Foreign Policy teamed up with A.T. Kearney and The Chicago Council on Global Affairs to create the Global Cities Index, a uniquely comprehensive ranking of the ways in which cities are integrating with the rest of the world. Toronto was ranked as the world’s 10th most global city, as well [...]
(NC)-For many Canadians, the thought of retirement is an exciting one, conjuring up images of travel, days spent at the cottage and visits with grandchildren. Unfortunately, some seniors are caught off guard by the expenses associated with retirement and a pension might not always be enough to make ends meet.
This is why more seniors are [...]
The Bank of Canada made a small quarter-point cut to its key interest rate today in an effort to stimulate the economy and ward off what the bank has labelled a global recession.
The cut to 2.25 percent Tuesday follows an unscheduled half-point reduction Oct. 8 in co-operation with other major central banks in an effort to ease lending and [...]
Review of recent news stories relating to the Canadian housing market.
Things are not looking great but in comparison to our neighbours down South we are not in terrible shape.
Globe & Mail – Property: Resale Housing Market Calms Down – Oct 15th
Reuters – Canada Average House Price Falls in September – Oct 15th
Toronto Star – [...]
Canada Mortgage and Housing Corp announced today that they are planning to buy up to $7-billion of mortgages from Canadian lenders on Oct. 23.
This will be the second round of purchases under the government’s new $25-billion program, designed to help banks and other lenders with financing that will make it easier for them to lend to consumers.
Banks [...]
(NC)-After a decade-long boom in housing prices, Canadians are finally facing the realities of a buyer’s market. With real estate prices stabilizing and houses spending more time on the market, is the home no longer the potential source of wealth for seniors who’ve counted on it to support their retirement plans?
Seniors wishing to tap into [...]
KeyCanada.ca has launched a local real estate blog in Kingston, Ontario – KingstonRealEstateNews.com .
The blog is designed to bring together local real estate professionals (agents, mortgage brokers, lawyers, home stagers, etc) so that they can share their knowledge with Kingston residents. Content will primarily relate to local issues but will also include national issues that affect the Kingston real estate market.
Please check [...]
Existing home prices in the country’s largest markets fell for the fourth straight month in September but the Canadian Real Estate Association said on Wednesday that the market is beginning to stabilize.
The average price of a home sold in September was $315,461, down from $336,321 a year earlier, for a 6.2% year-over-year decline. In June, [...]
Last Tuesday, when the National Do-Not-Call List was activated, the CRTC reportedly received an average of 93,750 calls per hour and so much web traffic that their site crashed. Today, just over a week later, it is estimated that there are already 2.7 million phone numbers in the registry.
Undoubtedly, this service will be popular with consumers [...]
