Is lack of housing supply putting homeownership out of reach for millions of Canadians?
Posted on Aug 30, 2021 in Blogs
Housing prices are high because of a lack of supply; yet millions of Canadians still rank homeownership as a top life goal. Increasing housing supply would make homeownership more accessible for Canadians.
Here are some recommendations from the Canadian Real Estate Assossiation:
Housing Supply and Infrastructure:
Canada has the lowest number of housin...
Millennials to drive housing demand
Posted on Aug 24, 2021 in Blogs
Over the next decade (2019-2029), there will be 861,000 job openings in BC, according to the British Columbia Labour Market Outlook.
- 69% of these future job openings will be to replace workers leaving the labour force.
- 598,000 job openings will be due to retiring workers will need to be replaced.
- 31% of the 10-year total job openings will be new...
How to Finance your home?
Posted on Aug 16, 2021 in Blogs
When you're looking to buy a home, it's important to understand the steps for getting a mortgage.
Get pre-approved
Pre-approval of a mortgage is when your lender has reviewed all your financial information and has determined the maximum amount of money you can borrow. The advantages include that you:
- know how much you can borrow, so you don't waste ti...
Monthly Market Report July 2021
Posted on Aug 16, 2021 in Market Trends
Steady sales, reduced listings and virtually unchanged home prices in July
Metro Vancouver’s* housing market saw more moderate sales, listings and pricing trends in July compared to the heightened activity experienced throughout much of the pandemic.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region...
REALTORS Care® Shelter Drive raises $15,000 for housing charities during pandemic
Posted on Aug 03, 2021 in Blogs
The REALTORS Care® Shelter Drive raised $15,000 for three housing charities in Metro Vancouver over a challenging year during the COVID-19 pandemic.
The Shelter Drive is an initiative developed by Real Estate Board of Greater Vancouver (REBGV) REALTORS® that raises funds each year for housing-related charities within Metro Vancouver.
Charities receiv...
How will the new mortgage stress test rules impact Metro Vancouver real estate?
Posted on Jul 14, 2021 in Blogs
The Office of the Superintendent of Financial Institutions (OSFI) and the Minister of Finance, Canada’s banking regulators, tightened the rules around the mortgage stress test on June 1.
Under the new requirements, all mortgage applicants must be able to afford their mortgage at an interest rate of 5.25 per cent or two per cent over the contract rat...
