Canadians not financially prepared to support aging parents

Survey also says less than one-in-three Canadians are familiar with helpful tax credits, grants and other financial tools

Canadians not financially prepared to support aging parentsA new survey indicates Canadians are not financially prepared to support their aging parents. The survey, commissioned by FP Canada and Chartwell Retirement Residences, found that many Canadians expect that providing financial support to their elderly parents will have a major impact on their personal finances. It also found than less than one-in-three Canadians say…

Try-before-you-buy concept used to sell home

Realtor said the owners are offering a stay of about a week but everything is negotiable in real estate

Try-before-you-buy concept used to sell homeYou wouldn’t think of not taking a vehicle out on a test drive before making one of the biggest purchases in your life. So why not a home? A Calgary homeowner who has listed a property for sale is taking the same concept and adapting it to the real estate industry. The seller is offering…

Canadians to spend less this year on home renovations

Half of Canadians plan to renovate their home this year but the average spend is the lowest it’s been in six years

Canadians to spend less this year on home renovationsCanadian homeowners are continuing to cut back on home renovation spending this year, with the average spend the lowest in six years, according to a CIBC poll released on Tuesday. The annual CIBC Home Renovations Poll found that 49 per cent of Canadians plan to renovate their home this year, but the average spend of…

Mortgage stress test has negative economic impact: report

‘Each housing start that is lost has an economic impact that is 10 times greater than for each lost resale transaction’

Mortgage stress test has negative economic impact: reportThe construction of new homes and home renovations are turning sharply downwards due to the mortgage stress test, which in turn will impact regional economies across Canada, says a new report. The False Binary, authored by Will Dunning, chief economist with Mortgage Professionals Canada, calls on the federal government to engage in discussion about the…

Big dreams come with tiny homes

Brian Hawkins of The Tiny House Movement talks about the significant advantages in store for people who downsize

Big dreams come with tiny homesBrian Hawkins is owner of The Tiny House Movement. What is the Tiny House Movement? Hawkins: The Tiny House Movement has been around for more than a decade, but it's really taken hold the last three years. It's become much more mainstream with the help of TV shows on HGTV, Netflix and the DIY network.…

Mortgage stress test still felt in Canadian housing market

TD Economics report admits the rules brought housing activity down to a more sustainable level

Mortgage stress test still felt in Canadian housing marketSixteen months after being introduced, the federal government’s mortgage stress test continues to be felt in all corners of the housing market, says a new report by TD Economics. The report, Assess the Stress: Examining the Impact of the B-20 Rules on Housing 16 Months Later, said the mortgage rules distorted sales activity before and…

Cost of housing pushing millennials to the suburbs

TD survey says young Canadians would prefer to live in urban neighbourhoods

Cost of housing pushing millennials to the suburbsA new survey says 81 per cent of Canadian millennials want to own a home but financial realities such as rising prices mean they have to look at the suburbs for affordability. The survey, released on Wednesday by TD, said 33 per cent of millennials say that city living is their preference but 64 per…

House prices falling across Canada

Calgary and Edmonton hit hard, according to report from real estate association

House prices falling across CanadaHouse prices are falling across the country, with significant declines in March in the Calgary and Edmonton regions. According to its regular monthly report, the Canadian Real Estate Association said the aggregate MLS benchmark price across Canada of $617,200 was down by 0.47 per cent year over year during the month. The report said the…

Non-traditional home buying approaches on the rise

More solo Canadians are buying property; down payments are trending up: RBC

Non-traditional home buying approaches on the riseMore Canadians are taking a non-traditional approach to buying a home and many say being house poor may be the reality of home ownership, says the annual RBC Home Ownership Poll, which was released on Monday. “We're seeing a fundamental contrast in who's at the buying table,” said Nicole Wells, vice-president of home equity financing…

Federal budget full of puzzling contradictions

With one hand, the government gives. With the other hand, it takes away benefits to taxpayers

Federal budget full of puzzling contradictionsBy Jason Clemens and Jake Fuss The Fraser Institute Commentators have noted the thrown-together nature of the 2019 federal budget released last week. There seem to be several ill-considered initiatives and some parts of the budget openly contradict other government programs and reforms. One of the more prominent contradictions relates to housing policy. In 2016,…

We need a big-picture perspective on house prices and mortgages

Taking on more debt is not a good thing. In fact, it could be devastating for the Canadian economy

We need a big-picture perspective on house prices and mortgagesThe future, when it arrives, isn’t always what we imagined. Technology hasn’t yet brought us vacation trips to the moon or Mars. But it has brought us Twitter, where even world leaders communicate in 140 character blocks. Does this affect our brains? Can we no longer hold more than one simple idea in our heads…

National housing market faces shakeup

Ben Myers of Bullpen Research & Consulting talks about how markets are changing across the country

National housing market faces shakeupBen Myers is president of Bullpen Research & Consulting Inc. What does your research tell you about today's consumer and what they’re looking for in a new home? Myers: Location remains the top priority for buyers, that hasn't changed. However, different demographic segments have much different priorities after location. In speaking with realtors and developers,…

Canadian MLS sales take steep drop in February

The housing sector is on track to further reduce waning Canadian economic growth: CREA report

Canadian MLS sales take steep drop in FebruaryMLS home sales in Canada dropped 9.1 per cent in February from January, reaching the lowest level since November 2012, according to a report released Friday by the Canadian Real Estate Association. The month-over-month decline was the largest recorded in Canada since the introduction of the mortgage stress test in January 2018. “The number of…

Feds should stop trying to fix Canadian housing markets

That’s a job better left to municipal and provincial governments, which can actually have an impact on supply and demand

Feds should stop trying to fix Canadian housing marketsBy Josef Filipowicz and Steve Lafleur The Fraser Institute Late last month, Finance Minister Bill Morneau said the federal government is considering ways to make housing more affordable for millennials. While he didn’t mention specifics, a one-size-fits-all plan for the entire country isn’t likely to solve housing affordability woes in expensive cities like Toronto and Vancouver.…

Innovative, sustainable custom home designs still draw clients

Kathy Yuen of Phase One Design talks about how to build an award-winning company from scratch, even during downturns

Innovative, sustainable custom home designs still draw clientsKathy Yuen is president of Phase One Design. Tell me about Phase One Design. How it got started, why, where you’re located and what you do? Yuen: Phase One Design is a residential design firm. We specialize in the architecture of luxury custom homes (not to be confused with interior design). How did it all…
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