Pundits believe Brexit is a boon to our real estate market …
Financial Post – Jul 5, 2016
Canadian commercial property has never been worth this much, according to a new report that says Brexit and foreign investment are driving the market. CBREĀ Canada, a commercial real estate company, says Canada’sĀ reputation as a āsafe havenā hasĀ …
Or maybe not?
‘Panic’ Brexit Withdrawals Freeze $23 Billion Property Funds
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Bloomberg– Jul 7, 2016
During the financial crisis of 2007 and 2008, real estate funds were … funds andĀ Canada Life froze four funds totaling 450 million pounds.
Regardless, Vancourites and Torontonians (foreigners inluded, of course)Ā are gobbling up real home for sales without even seeing the properties!The Home Inspectors Association isn’t amused … They wanted the authority to make home inspection mandatory. Madness, eh?
CBC.ca – āJul 5, 2016ā
The Home Inspectors Association of B.C. is calling for the province to implement a mandatory post-bid “cooling off period” so prospective home buyers can get a property inspected before they purchase it.
Meanwhile, blame games have started onĀ the rapidly accelerating home prices that is total madness, to sum it up in one word … Liberals and municipalities are the main culprits,Ā so said the urban planningĀ experts.
Financial Post – Jul 7, 2016
Also out Thursday is a new report from Sotheby’s International Realty Canada that suggests the luxury end of the housing market is being dominated by sales of houses of $4-million or more in Vancouver and Toronto, something else that is driving up …
Image Sourcebnn.ca – āJul 6, 2016ā
Rapidly accelerating home prices in the Greater Toronto Area have in large part been caused by Ontario government policy, one urban planning expert argues.
It appears those in the mortgage business are extremely worried about the hidden timebomb called “Housing Bubble”.Understandably these deep pockets stand to loose the most should the market collapses … They wanted real serious actions, not just playing with sub-zero interest rate, or asking banks to implement minimum downpayment. All these measures are outdated, too little, and totally ineffective to house flippers (but bona fide Canadian wage-earning-house-buyers really hard hit).The financiers wanted authorities to punish house flippers, Ā wage Jihad wars against foreign crooks?Interesting development, but a slippery slope for the Liberals.
Mortgage Broker News – ā6 hours ago
āThe seemingly unstoppable overheating ofCanada’s residential property market is making the most in-demand cities more difficult places to live in for the long term, and authorities should consider taking stronger steps to address the problem …
Liberals have started to look at the situation very seriously, so said our lawmakers: –
ETRealty.comĀ –
His comments followed warnings byĀ Canada’s central bank and the Organization for Economic Cooperation and Development (OECD) about a possible housing bubble. According to their respective real estate boards, Vancouver prices climbed 30 percent inĀ …
Indeed, actions have started to emerge …
CBC.ca – Jul 7, 2015
Canada’s top banking regulator is telling the big banks to pay more attention to who they are giving mortgages to, and warning them that it is stepping up its scrutiny of their loan books.
Also, it appears talksĀ alone is already having some effects on Vancouver market …
CTV News – Jul 7, 2016
Dan Morrison, president of the Real EstateĀ Board of Metro Vancouver, says inventory has crept up slowly over the past four months.
The Liberals further promised not only they are serious, they will be very transparent … No hanky-panky business
Bancroft This Week – Jul 7, 2015
The province said the CDO will lead the Government of Ontario to become the most open, transparent and digitally connected government in Canada. … to investigate affordable education and the success of skilled workers, a Ministry of Economic
In the past, real estate agents will threaten potential home buyers to make purchase decisionĀ immediately, because the sky is falling down ! Sorry, I mean financing will be more difficult, if not impossible. Interest will go up while house price will just continue to fly.And history suggests upon hearing the government is about to intervene,Ā folks will be persuaded by rush to buy up just about anything … From super villas, upper fixers, cookie-cutter condos, to even sheds.Looks like Liberals need aĀ new approach Ā …Prediction: Another prosperous year for those in the real estate business.Wondering what our real estate agents make … ?
Toronto Sun – Jul 6, 2016
Stephen Moranis, B.Comm., MBA, FRI, CMR has been active in the North American Real Estate Industry for more than 40 years. He is a former President of the Toronto Real Estate Board and a former Director of the Canadian Real Estate Association.
As for foreignersĀ keen to explore Canadian real estate …
Attention: Foreign Investors, or potential home buyers from abroad,
BBC News – Jul 7, 2016
Soaring housing prices in the cities of Vancouver and Toronto are making ownership unattainable for more and more people. And concern is growing that the housing bubble could crash.
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