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In Vancouver, Home Sales Hit the Brakes

The Wall Street Journal 31.10.2012
In Vancouver, Home Sales Hit the Brakes

VANCOUVER, British Columbia—After a blistering, multiyear run that saw ramshackle bungalows fetch seven-figure sums, one of the hottest real-estate markets in North America seems to be cooling, damped in part by government changes meant to deflate what many policy makers saw as the start of a bubble.

Canada will avoid U.S.-style real estate bubble, bank says

TORONTO — The news out of Canada’s real estate market isn’t good, but the country will avoid a U.S.-style real estate meltdown, CIBC said Tuesday.

Developers decry high commercial property taxes

Homeowners are paying an increasing proportion of property taxes in Vancouver and Toronto – but not in Montreal, where businesses are increasingly picking up the tab.

Assessed value of Ontario homes to rise, property tax may follow

Ontario homeowners will see the determined value of their houses rise 4.5 per cent in each of the next four years — and may face tax increases as a result — following a report that found property values have risen 18 per cent since the last update in 2008.

Toronto Community Housing REIT coming soon?

The Globe And Mail 20.09.2012
Single Canadians buying real estate should be more diligent than couples

VANCOUVER — Cobi Falconer single-handedly paid down the mortgage on her Vancouver condo while also paying tuition for four university degrees and working numerous jobs simultaneously.

Toronto Community Housing REIT coming soon?

Amid the offerings in the hot Real Estate Investment Trust market, income-craving investors may soon see an unusual new option: A portfolio of social housing buildings in downtown Toronto.

Commercial real estate market worth $63-billion, report says

Commercial real estate generated $63.3-billion in economic activity in Canada last year, making the sector’s economic contribution twice as large as the entire economy of the province of Newfoundland & Labrador, according to a new report.

Canadian Real Estate Association cuts home sales forecast for this year and next

OTTAWA — The Canadian Real Estate Association has cut its forecast for Canadian home sales this year and next and lowered its national average price forecast.

Property tax reforms mean higher bills for some

The Canadian Taxpayers Federation says New Brunswick's new approach to property taxes will mean higher bills for people who live in fast-growing urban areas, such as Dieppe.

Tales from the war zone: The Toronto real estate market

“The house hunt has become a blood sport involving bully bids, bribery and a willingness to pay $100,000 over asking, without conditions, for the ugliest address on the street,” this story in Toronto Life magazine begins.


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