So when’s the housing bubble bursting?
- Thread starter Dr. Truth
- Start date
Vancouver homeowners could get several years of near-double-digit property tax increases
The City of Vancouver is in dire financial straits that could leave homeowners on the hook for property tax increases of close to 10 per cent in each of the next five years, according to city staff.
How risky is it to extend Canadian mortgage amortizations?
Canada's record pace of interest rate hikes has led to the repayment period for many variable rate mortgages lengthening to over 30 years, helping to shield households from higher borrowing costs but raising debt loads and worrying regulators. Variable rate mortgages in Canada typically require...
Rising mortgage interest costs now biggest factor driving inflation — and they're not done yet
Mortgage interest costs surged 29.9% in May from last year and economist says there's 'more upside to come'
Homeowners abandon variable-rate mortgages for fixed-rate alternatives as interest rates rise
Rush away from variable-rate mortgages deepens for 13th consecutive month
Posthaste: Canada's housing market is hot again — expect it to stay that way, economists say
Market will stay strong thanks to a number of economic factors, clipping affordability even more, Desjardins says
A Make-or-Break Moment for Public Housing in New York City
A promising $1.5 billion plan to demolish and rebuild two projects in the heart of Chelsea is an important test for local leaders.
nymag.com
Tenants say a 3-year ban on evictions kept them housed. Landlords say they're drowning in debt
SAN FRANCISCO (AP) — Retiree Pamela Haile has paid property taxes, insurance and other bills on a house she lets out in Oakland, but for more than three years her tenants have paid no rent thanks to one of the longest-lasting eviction bans in the country. The eviction moratorium in the San...
US Home Prices Recover Further as Buyers Battle for Tight Supply of Listings
(Bloomberg) -- Home prices in the US rose for a third straight month, pushed up by growing buyer demand for a tight supply of listings. Most Read from BloombergStudent Loan-Relief Backers Warn Biden ‘Failure Isn’t an Option’Wagner Chief Lands in Belarus as Putin Says ‘Civil War’...
US New-Home Sales Surge to Fastest Pace in More Than a Year
(Bloomberg) -- US new-home sales advanced in May to the fastest pace in over a year, bolstered by limited inventory in the resale market.Most Read from BloombergStudent Loan-Relief Backers Warn Biden ‘Failure Isn’t an Option’Wagner Chief Lands in Belarus as Putin Says ‘Civil War’ AvertedUBS...
Bank of Canada hikes another 25 basis points, bringing policy rate to 4.75%
The increase brings the central bank’s policy rate to the highest level in more than two decades.
Canadian Real Estate | Latest News and Updates | Yahoo Canada
The latest real estate news for housing prices, mortgage rates, markets, luxury properties and more across Canada.
How the homeowner management approach builds a moat around real estate businesses
It is crucial to focus on capturing the business that exists in this market while also planting seeds with clients that will yield long-term rewards.
www.housingwire.com
Housing Market Tracker: Inventory gets summer lift
Summer is here and housing inventory is finally growing. Active inventory grew 8,886 last week.
www.housingwire.com
DataDigest: Mortgage pros when the tide goes out
One consequence of mortgage lenders being on the ropes is the lack of investment back into the business. Here's what they're cutting back on.
www.housingwire.com
HousingWire: Industry News for Housing Professionals
HousingWire is your go-to news source for housing market, real estate and mortgage trends.
www.housingwire.com
New immigrants without wealth ‘avoiding’ Vancouver
A lack of affordability ‘deflects’ immigration, while Alberta policies attempt to draw it
biv.com
We moved into a tiny home to save money, it's NOT as cheap as it looks
Destiny and Brianna DeJesus, from Portland, officially moved into their tiny home in 2022 - but were in for a shock when they were hit with a slew of expenses and challenges they never expected.
B.C. couple compensated for 'intolerable' noise caused by neighbours' sound system
A B.C. couple has been ordered to pay their former neighbours $3,500 in damages as compensation for the "intolerable" noise caused by the pulsating bass from their sound system, according to a small claims decision.
Multiple unit investors are juicing the condo market
Condo buyers with ‘10, 20, 30 or 200 properties in their portfolio’ still eager to add more
www.theglobeandmail.com
Bank regulator warns that mortgage holders are leaning too heavily on extending amortization periods
OSFI head Peter Routledge says that borrowers with mortgages in which payments are not high enough to cover the interest portion of the loan could experience a ‘shock’ in significantly higher payments in the years ahead
www.theglobeandmail.com
Toronto’s Black neighbourhoods hard hit by displacement
Researchers pointed specifically to high levels of displacement in the Mount Dennis neighbourhood, an area hard hit by almost incessant transit construction
www.theglobeandmail.com
Investor ‘surprised’ by healthy return on Kitsilano condo
Seller got a healthy three-year return on investment with $1-million sale of two-bedroom unit that was purchased in December, 2020 for $785,000
www.theglobeandmail.com
CIBC’s mortgage underwriting lapses and one senior’s search for roommates: This week’s top real estate stories
Plus, this week’s lowest variable and fixed mortgage rates
www.theglobeandmail.com
Home for sale in Bellevue: 10700 NE 4th Street 4302, Bellevue, WA 98004
For sale: 4 bed, 4 bath, 6,397 SQFT Condo. Peerless and perfect, the view from the top has never been better! Balancing the urban energy of Bellevue with... $12,850,000.
www.windermere.com
'Til Debt Do Us Part was one of my fave shows for years. The host also did 2 other series called Money Moron and Princess, and helped people break down their many financial errors. Really found her advice helpful ...
Glass mansion in quarry is hailed as an architectural 'masterpiece'
Designed by New York based architect Steven Harris, the Bedford Quarry House is perched on a 40ft cliff above an abandoned quarry-turned-lake.
Definitely, a good inspector will save you $$$ when it's time to negotiate fixes/concessions.
The one I used had his camera and a voice recorder to take notes. About 2 days later, I had a 60+ page PDF report covering the house from basement to the attic and roof.
$400 saved me about $10k. From simple shit like having smoke detectors installed on each floor and GFCI outlets installed to roofing and pinhole leaks in copper pipes. Most of the small things the seller fixed, but the rest were seller concessions.
Landlord says he's stuck after evicted renters set up camp on his front lawn
A Calgary landlord says he's dealing with $100,000 in property damage and a group of squatters who refuse to leave a home he owns in the city's northeast.
Agreed.
And one key piece of advice my dad gave me back in the late-2000s when going to a shitload of open houses every weekend over the course of 6+ months was ... bring a highlighter with you. And when you're going around a place ... make notes and highlight key positives / negatives you find with the place. And give that place a score on a scale of 1 - 10. The places that stick with you ... say you score them 7 - 8 out of 10 ... keep them in the running. Potentially go back and give them a 2nd open house look a week or two later (if they're still on the market). In other words ... a score of 70 or 80% is something you can work with. You are never gonna find a perfect 10 / 10 or 100% ... and also don't settle for something that's merely a 5 or 6. Unless you're prepared to invest plenty of money into it to bring it up to speed.
Another thing too ... if you have time ... go to city hall and ask about seeing city specs about future developments in the years ahead. They can provide you with (I don't remember the terms) posters and charts showing what's on the horizon. I.E. - I was looking at a central location in the city back in 2009 ... they showed all the years of future construction ahead. All the extra noise and changes to your views, etc.