Dominic Darmanin

Cell: 604-788-1476 |

#2017 #Real #Estate #Trends ~ So Far!

According to Emerging Trends in Canadian Real Estate 2017 by PwC Canada
“Vancouver is expected to lead all Canadian cities with 3.3% in GDP growth in 2017 propelled by strong employment gains and rousing housing starts.”
The article goes on to say that most of this growth will be in multifamily and high-density condos. Uncertainty over the affects of the provincial government's property transfer tax (PTT) and foreign buyers tax (FBT)...

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That amounts to 8.2% of detached homes in Vancouver are unoccupied or owned by temporary or foreign residents. In Surrey the unoccupied number is 11,195 (6.2%), Burnaby 5,829 (5.9%) and Richmond 4,021 (5.6%). So combined, the other municipality's numbers are still less than the total unoccupied properties in Vancouver. This constitutes nothing short of a phenomenal distortion of normal domestic market forces which should be the primary driver of local home prices. But this simply isn't the case.

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According to Emerging Trends in Canadian Real Estate 2017 by PwC Canada

                “Vancouver is expected to lead all Canadian cities with 3.3% in GDP growth in 2017 propelled by strong              employment gains and rousing housing starts.”

The article goes on to say that most of this growth will be in multifamily and high-density condos. Uncertainty...

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Canada Mortgage and Housing Corporation (CMHC) is supposed to protect the banks and credit unions (hitherto referred to as “banks”) from a mortgagee defaulting on their mortgage obligation, but this isn't the whole story!

 

The question is: What is CMHC's role in the scheme of things?

 

When we borrow money for a mortgage from a bank the myth is that we are borrowing from saver's deposits. This is only partially true. You see, because of a magic trick called “fractional...

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