A new international survey shows that Vancouver continues to be the least affordable city to buy a home in Canada – and ranks third internationally. But would you believe that Victoria comes in at second on the list in Canada, less affordable than all of the other major markets considered in the study?
For the past few years, credit has been easy to come by for most Canadians. However, for every individual who manages their credit well, there are horror stories of monster loans and mountains of debt. According to an annual report by credit agency TransUnion, individual debt among Canadians is increasing. A typical individual is currently carrying $21,686 in debt, not including their mortgage – an increase of 2.3% from the same time in 2015.
Nov 21 2016
Over the past few weeks, we've heard some pretty scary terms being tossed about regarding the housing market: Canada is in a housing boom – bubble – bust; the market is softening, deflating, freefalling, crashing. The truth is that the federal government's new mortgage qualifying regulations introduced a lot of uncertainty into the market. Many folks are calling us with one question on their minds, "Should I buy now or wait?"
Just when you thought mortgage rule changes were done for now, here comes another round. While these ones are directed at mortgage insurers (CMHC, Genworth and Canada Guaranty) rather than borrowers, there's a strong chance that consumers will suffer collateral damage from these changes.
Feb 10 2015
Set to hit the country's largest real estate market, this year could see the micro condo taking off.
With more single people wanting homes and higher prices making some Canadian cities unaffordable for single and low income households, smaller homes may prove to be the solution.
Homeowners in British Columbia and Alberta have the highest average mortgage debt according to StatsCan data.
Vancouver has been identified as one of the most unaffordable cities in the world in a study of major property markets.
