Christy Clark hints at relief in B.C. budget for high housing costs

January 14, 2016 under Useful Articles
THE CANADIAN PRESS JANUARY 12, 2016 Premier Christy Clark says British Columbia’s high housing costs are on the government’s radar as it prepares to table its budget next month. Photograph by: Gord Goble , Delta Optimist Premier Christy Clark says British Columbia’s high housing costs are on the government’s radar as it prepares to table its budget next month. Clark says housing relief options are one of
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One of Vancouver’s most ambitious commercial-residential developments is being scaled back Ivanhoe Cambridge, partner Westbank Projects are reducing size of $1.5 billion Oakridge development by as much as 25 per cent .

January 14, 2016 under Useful Articles
By Jeff Lee, Vancouver Sun January 12, 2016 The city puts the value of the public amenities in the Oakridge redevelopment at almost $230 million. In all, the redevelopment will cost $1.5 billion and won’t be completed until 2024. Photograph by: Ivanhoe Cambridge , Vancouver Sun VANCOUVER — Just a little less than two years ago a split Vancouver city council agreed to an ambitious plan to massively densif
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CIBC latest lender to increase some of its mortgage rate products

January 14, 2016 under Useful Articles
ALEXANDRA POSADZKI, THE CANADIAN PRESS 01.11.2016 TORONTO – CIBC has become the latest among the big Canadian banks to increase some of its mortgage rates. The bank (TSX:CM) said Tuesday that it had raised its special offer, three-year fixed rate by 10 basis points to 2.59 per cent. Meanwhile, its special offer, four-year fixed rate has also gone up by 10 basis points, to 2.84 per cent. The changes to CIBC&#
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Canada’s economy unexpectedly stalls, setting uncertain tone for end of the year

December 28, 2015 under Useful Articles
By Gordon Isfeld, Financial Post December 23, 2015 OTTAWA — Growth in Canada’s economy was flat in October, following a decline in the previous month and setting an uncertain tone for the end of the year. “Gains in mining, quarrying, and oil and gas extraction as well as the public sector were offset by declines in manufacturing, utilities and retail trade, “ Statistics Canada said Wednesday. Many econom
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BREAKING NEWS! Finance minister announces down payment rule changes…

December 11, 2015 under Home Buyer Resources, Useful Articles
New down payment rules will go into effective February 15, 2016. “The Government’s role in housing is to set and maintain a framework that is equitable, stable and sustainable. The actions taken today prudently address emerging vulnerabilities in certain housing markets, while not overburdening other regions,” Finance Minister Bill Morneau said in a release. “They also rebalance government support for the h
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Tony’s Latest Updates – December 11,2015

December 10, 2015 under Tony's Latest Updates
It would be hard today to escape the news about our local real estate market. We have seen lots of headlines predicting higher prices or conversely of a real estate collapse. Below are three graphs that can help clarify the market conditions in the Lower Mainland: 1. Total Sales – number of sales have increased consistently since early 2013. 2. Total Inventory – the number of properties for sale has followed a
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Tax increase likely as assessed values of detached houses in B.C. rise at historically high rate Early-warning letters sent to homeowners up 55 per cent from 2014

December 10, 2015 under Useful Articles
By Joanne Lee-Young, Vancouver Sun December 9, 2015 Many single-family home markets have moved upward very quickly in the months since they were last assessed in July 2015. Photograph by: Richard Buchan , THE CANADIAN PRESS VANCOUVER — BC Assessment is sending a “significantly higher” number of early notification letters informing homeowners to expect a 2016 assessment that is at least 15 per cent above th
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Barbara Yaffe: Real estate market mayhem comes to Squamish

November 27, 2015 under Useful Articles
BY BARBARA YAFFE, VANCOUVER SUN NOVEMBER 26, 2015 Vancouverites look far and wide for housing they can afford Ninety minutes. That’s all the time it took earlier this month for buyers to snap up every last one of ParkHouse Squamish Ltd.’s 65 pre-sale condo units. Squamish, it appears, is just close enough to Vancouver to fall victim to the region’s property mayhem. The condo units, priced from $167
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B.C., Vancouver ask Ottawa to pick up bigger share of transit projects Municipalities can’t afford requirement to pay one third of major projects, mayor says

November 20, 2015 under Useful Articles
By Peter O’Neil and Kelly Sinoski, Vancouver Sun November 20, 2015 Vancouver mayor Gregor Robertson is lobbying Ottawa to drastically reduce the amount of matching funds cities must provide for major infrastructure projects. Photograph by: DARRYL DYCK , THE CANADIAN PRESS   The B.C. government and the city of Vancouver are lobbying the Trudeau government to reduce the municipal share of the cost of
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Top Producers for the Month of October 2015

November 20, 2015 under Tony's Latest Updates
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