Vancouver housing starts remain stable in October: CMHC

November 12, 2013 under Home Buyer Resources
By Emma Crawford Fri Nov 8, 2013 1:44pm PST Housing starts in the Vancouver Census Metropolitan Area remained stable in October compared with September, according to Canada Mortgage and Housing Corporation data released November 8. October’s six-month moving average was 19,467 units – 11 units fewer than September. “A decline in apartment construction in October contributed to the housing starts trend being s
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Canadians may carry a lot of debt but that isn’t always a bad thing

November 12, 2013 under Useful Articles
Garry Marr | 11/11/13 | Last Updated: 11/11/13 2:30 PM ET Taking on debt to create long-term growth is often applauded in the business world. But when it comes to individuals doing the same thing with their own finances, the concept is given short shrift. Much has been written about the record level of Canadian household debt, with many worried observers citing the debt-to disposable-income ratio that reached 1
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Jim Flaherty says interest rates are heading higher regardless of central bank actions

November 12, 2013 under Useful Articles
Reuters | 07/11/13 | Last Updated: 07/11/13 1:43 PM ET Interest rates are going to go up over the long term regardless of what central banks do at the moment, Finance Minister Jim Flaherty said on Thursday after the European Central Bank unexpectedly trimmed rates. The bank cut rates to a record low earlier in the day and said it would prime banks with liquidity into 2015 to prevent the eurozone’s recovery fr
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AMERICAN ECONOMY UNEXPECTEDLY ACCELERATES IN Q3

November 7, 2013 under Useful Articles
MATTHEW BOESLER The first look at Q3 U.S. GDP growth is out. The American economy grew 2.8% at an annualized pace in Q3, accelerating from Q2′s 2.5% pace of growth and coming in well ahead of consensus estimates for 2.0%. Personal consumption growth slowed to 1.5% from 1.8%, however, worse than the slowdown to 1.6% predicted by economists. The headline number was boosted by a rise in inventories. “Priva
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EUROPEAN CENTRAL BANK SURPRISES WITH SHOCK INTEREST RATE CUT — EURO PLUNGES, STOCKS SOAR

November 7, 2013 under Useful Articles
MATTHEW BOESLER NOV. 7, 2013, 7:46 AM The ECB cut rates in November.   Only three economists expected this. The central bank elected to lower its benchmark refinancing rate to 0.25% from 0.50%, while the rate on the marginal lending facility was reduced to 0.75% from 1.00%. The euro is plunging. Right now, it’s trading 1.1% lower against the dollar. Meanwhile, European stock markets are surging after sp
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Job growth to sustain Vancouver housing market in 2014

November 6, 2013 under Home Buyer Resources
By Richard ChuThu Oct 31, 2013 1:35pm PST A pick up in B.C.’s economy next year and the associated increases in jobs will bolster B.C.’s residential real estate market in 2014. According to the latest housing market outlook released October 31 by the Canada Mortgage and Housing Corp. (CMHC), existing home sales are expected to rise 8% next year with the average price on the Multiple Listing Service forecast to
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Housing market firing up again as Toronto sales leap 19%

November 6, 2013 under Home Buyer Resources
Garry Marr | 06/11/13 8:36 AM ET The Canadian housing market appears to be on the mend again, with a new set of stellar statistics released in Toronto. Combined with news out of Vancouver that sales are improving in British Columbia’s largest city, the recovery could stoke fears that Finance Minister Jim Flaherty might intervene in the market with another set of tough restrictions for lending. Sales in the Grea
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Vancouver home sales climbing, prices stalled

November 6, 2013 under Home Buyer Resources
Garry Marr | 04/11/13 1:34 PM ET Canada’s most expensive housing market continues to show signs it is on the rebound. The Real Estate Board of Greater Vancouver said there was 2,661 sales through Multiple Listing Service in October, 2013, a 37.8% jump from a year ago. Sales were up 7.2% from the 2,483 transactions a month earlier. However, the rebound still places sales activity 2.8% above the 10-year average f
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Greater Victoria real estate sales rise, spurred by low-cost borrowing

November 6, 2013 under Home Buyer Resources
ANDREW DUFFY / TIMES COLONIST NOVEMBER 1, 2013 08:18 PM The Greater Victoria real estate market appears to be improving as October sales were up significantly over the same time last year and compared to September, according to numbers released Friday by the Victoria Real Estate Board. Last month, there were 512 sales in the region, up from 373 in October 2012 and from the 460 sold in September. “I think we’re
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Victoria’s downtown boom: Population 7,170 and growing

November 6, 2013 under Useful Articles
CARLA WILSON AND JEFF BELL / TIMES COLONIST NOVEMBER 3, 2013 08:55 AM Micro-loft condos sold like hotcakes in downtown Victoria Saturday, with more than 80 per cent of the revamped Janion building’s 113 units on Store Street being snapped up. Up to 100 people were standing in line at any one time, despite the rainy weather, after the Johnson Street sales office opened at noon. “It was a busy day, fantastic bu
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