Now that Prime Minister Justin Trudeau and the Liberals have secured a minority government after the 44th general election, will the Grits move ahead with their plan to ban blind bidding? With the state of the House of Commons essentially unchanged from before the election, the public policy pursuit might prove to be a challenging feat for the Trudeau […]
Canadian real estate is at a critical point. Declining housing affordability due to supply shortages continues to be the biggest challenge facing Canadian homebuyers, particularly first-time buyers. To improve these challenging market conditions and help more Canadians enter into home ownership, RE/MAX Canada is calling for the newly appointed federal government to lead a collaborative national housing strategy, […]
Canadian real estate experienced a spike in interest and activity during the last 18 months, despite COVID-19 – or, as some might have it, due to it. The moratorium on travel, the rise in remote working and learning, lockdowns and general economic uncertainty have prompted many Canadians to set their sights on the Canadian housing […]
Earlier this summer, new changes were announced for the federal mortgage stress test, shifting the ground again in terms of how much house new and seasoned home buyers are qualified to purchase. In April, Canada’s financial regulator, the Office of the Superintendent of Financial Institutions (OSFI), proposed an increase for the stress test’s minimum qualifying rate on uninsured mortgages. […]
Bank of Canada’s Overnight Rate On September 8, the Bank of Canada maintained its target for the overnight benchmark rate at 0.25% The Bank of Canada announced that it will continue to hold its key interest rate target at 0.25%, unchanged since March 2020 when a trio of rate cuts were implemented to boost the economy in light […]
Earlier this year, CTV News profiled an Ottawa couple who bid $400,000 over the asking price and still lost out on the home of their dreams. This was not the first time that they were outbid on a residential property in the nation’s capital, resulting in “frustration and fatigue.” Like many others hoping to engage in the […]
It should come as no surprise that affordability in the Canadian housing market has become a key issue in the upcoming federal election. According to a recent report, 42 per cent of Canadians said the high cost of housing was preventing them from entering the housing market, and 48 per cent shared concerns over their ability […]
The July Canadian housing numbers are in and it was yet another slowdown on the sales side, making four months in a row; albeit, from completely unbelievable (and certainly unsustainable) levels back in March. So, not a big surprise. That said, it was also the smallest of those four straight monthly declines, so it looks like activity […]
Canadian real estate has been one of the hottest in the world throughout the coronavirus pandemic. Virtually every region from coast to coast, from the major urban centres to cottage country and rural areas, have posted record-setting growth during what can only be described as chaotic times. The Canadian housing market has been so strong, that it […]
Are the U.S. and Canadian housing market in a bubble right now? Most importantly, after 15 months of skyrocketing gains, are both nations’ real estate sectors about to cool down? These questions are top of mind for real estate industry observers across North America who have been closely monitoring activity as both nations ease out of the […]