Dominic Darmanin

Cell: 604-788-1476 |

BIG Trouble for Canada's Largest Subprime Mortgage Lender

As with most news releases it's hard to know exactly what the truth is. In this case Home Capital Group's stock plummeted 61% after reports that its top former executives failed to satisfy disclosure requirements, made “materially misleading statements” and failed to comply with other securities rules.
(reported by Bloomberg, April 20, 2017). Home Capital Group is the largest lender of subprime mortgages. These are mortgages that...
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In a recent article on ZeroHedge, Tyler Durban wrote and article (Why The Bank Of Canada Should “Cease and Desist”) and posed the question why the Bank of Canada doesn't step in and raise interest rates to cool down the Canadian housing market. After all, historically low interest rates (along with other factors) have certainly contributed greatly to this absurd feeding frenzy on Vancouver and Toronto real estate.

Economists that Mr. Durban cites claim that manipulating interest rates...

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Toronto Home Prices Are Going Insane!

 

We thought Vancouver homes prices were ridiculous in the first half of 2016, now the average sale price of a Greater Toronto Area home in March was $922,757, up an incredible 33 per cent from that month last year. The greatest appreciation was in East Gwillimbury, where the average price in March surged 69 per cent on a year-over-year basis to $1,125,129.Each of the 25 incorporated municipalities in the Greater Toronto Area saw double-digit annual growth...

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Some Facts About “Principal Residence” designation in Canada

 

Continuing on from last week's article, here are some principal residence and capital gains rules we all need to be aware of. A principal residence is:

 

             Generally any residential property owned and occupied by you or your spouse or common-law partner, your former spouse or common- law partner or your child at any time in the year...and it need...

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