Blogs

A recent report from CBRE says that Canada’s two priciest cities for homes can now be included in an international class that is attracting foreign investors from around the world.

The report from CBRE says “prime” residential property in Toronto is now $1,225 per square foot, while Vancouver is $1,368 per square foot. Those dollar figures have vaulted the cities past some pretty impressive competitors like Rome and Milan. Similar property in Paris is $2,000 per square foot, while London, the most expensive city in the study, comes in at $3,636 per square foot.

Based on the United Nations Development Programme's Human Development Index, 24/7 Wall St. has compiled a list of the most and least livable countries. Data from the Human Development Index is based on three dimensions of human progress: Having a long and healthy life, being knowledgeable, and having a good standard of living. According to 24/7 Wall St.'s finding, Norway is the most livable country, while Nigeria is considered to be the least livable.

This past summer, CMHC attempted to determine the percentage of condos in Canada that are owned by domestic investors. Since then, it has admitted uncertainty of what percentage of condos are owned by foreign investors.

The new Homeless Prevention Program (HPP) will assist British Columbians who are at risk of becoming homeless.

Supporting four at-risk groups with finding homes in the private market, rent supplements, and support services, these groups include: youth transitioning out of foster care, women who have experienced violence or are at risk of violence, individuals leaving the hospital and correctional systems, and Aboriginal people.

A recent news report suggests that Canadian homeowners are paying down their mortgages faster than most think.

According to a CIBC World Markets study, homeowners are taking advantage of record-low interest rates to accelerate their mortgage payments, and therefore shorting their amortization periods. The study shows that homeowners are paying an additional $11 billion a year in principal, which isn't being officially recognized by the Bank of Canada.

Canada’s housing market is off to a solid start this fall, with new data pointing to a near-11 percent rise in sales for September compared to a year ago.

According to Canada Mortgage and Housing Corporation (CMHC), the trend measure of housing starts in Canada was 197,747 units in September compared to 191,095 in August. The trend is a six-month average of the monthly seasonally adjusted annual rates (SAAR) of housing starts.