First, we heard,
Canadians’ Faith In Real Estate Fizzles As Toronto Sales Plunge
And then just like what we have witnessed previously, IMF shouted a watered down “Chicken Little’s The Sky Is Falling” warning again, which obviously did not resonate with the populist sentiment,
The International Monetary Fund says concerns over Canada’s housing market are valid, but that doesn’t necessarily mean there are systemic problems that need urgent attention.
“Further tightening is needed,” the IMF urged more action on the file, including:
- Implementing a cap on debt-to-income levels for mortgage applicants.
- More co-ordination between federal and provincial bodies when implementing new rules.
- Dedicated resources to collect better data on real estate transactions.
While we still doubt tightening mortgage requirements is a solution. whereby this won’t affect the deep pocket speculators, it will definately shatter the dream of home ownership and make life even harder for ordinary folks.
The appriaser are also prompted to relook at the real estate valuation …
HOWEVER, today we just heard,
Vancouver real estate market heating up again as sales and prices … Financial Post
Real estate experts say Vancouver home sales edging back toward … Normangee Star
Greater Vancouver home sales return to almost record levels in May … Vancouver Sun
Victoria locals compete fiercely for limited inventory Western Investor
And houses are selling like hot cake all over again,
VANCOUVER — Home sales across Metro Vancouver rebounded to near record … that home prices are likely to continue to increase until we see more housing … CTV News
MOST EXCLUSIVE RESIDENCE IN VANCOUVER
(Listed For Sales In 2013 For $25 millions)
This West Vancouver’s Most Exclusive Estate, which is located in West Vancouver, British Columbia, Canada, is now on the market for 17,922,590 Euro ($23,800,000). A Luxury Residence, built in 2011, is situated on a private 1Hectare (2.36 acre) gated estate with stunning Southwest ocean views. property is located in prestigious Lower Caulfeild and bordering Light House Park.
The home offers 1.210sqm (13,000 square feet) of living on three levels a dramatic floor plan and a majestic ambience for entertaining on a global level, all this with 7 bedrooms and 6 full and 4 half bathrooms. House boasts spacious entertainment rooms filled with black and white marble slab flooring, Spanish imported circular mosaic motif, French Beaumaniere limestone flooring, custom limestone pillars and arches, Italian Marble slabs from Rome, solid mahogany millwork, custom ceiling designed frescos with hints of gold leaf antique finished reliefs, and one foot thick Ralph Lauren textured faux painted walls.
The estate also has temperature controlled wine room, library with walnut cabinetry, faux finished semi dome, custom sand blasted glass doors, travertine fireplace, large motor court with Port Cochere entry, custom paving stones, 4 car garage, shimmering rock wall water pond, water fountains, separate guest accommodation as well as nanny suite.