Gerry’s Blog
This past summer, the nation’s chief bank regulator imposed new rules against home equity lines of credit, also known as HELOCs. The Office of the Superintendent of Financial Institutions (OSFI) installed a cap on borrowing available through HELOCs as part of efforts to strengthen Canada’s banking system. In other words, many Canadians will notice a…
Home-buying activity continues at a frenzied pace in the Calgary housing market, as affordable housing values and lower tax rates incentivize an increasing number of out-of-province buyers to move to Alberta, according to RE/MAX Canada’s 2024 Tax Report. In the first three quarters of 2023, the province welcomed just over 45,000 interprovincial residents, according to…
After a flurry of activity at luxury price points in the Toronto housing market in the final quarter of 2023 due to upcoming changes to the city’s 2024 land transfer taxes, the market has slowed in the Greater Toronto Area, according to RE/MAX Canada’s 2024 Tax Report. Sales are currently trending on par or slightly…
A significant uptick in sales and values in the Winnipeg housing market in the last six weeks of 2023 has set the stage for home-buying activity in 2024, according to findings from RE/MAX Canada’s 2024 Tax Report. Listings that had lingered on the market were quickly snapped up, some in multiple-offer situations, between mid-November and…
Real estate uncertainty has seeped into January 2024, and buyers in the Halifax housing market are banking of the prospect of lower interest rates down the road to revitalize home-buying activity. Demand remains relatively healthy in hot pocket areas, where well-priced properties are selling in short order, but in areas where greater selection exists, turnover…
The tax burden is weighing heavily on buyers in the Greater Vancouver housing market, where housing values are amongst the highest in Canada. Yet first-time, move-up and downsizing homebuyers remain determined to move forward, regardless of tax implications. RE/MAX Canada’s 2024 Tax Report found that home-buying activity in the Greater Vancouver Area is off to…
One look at the downtown Toronto skyline, which is filled with condominiums, and you will see dozens of cranes in the sky. At the same time, fresh data show that new construction has slowed considerably in the last year, meaning fewer new condominium developments are coming to market. It is not really a surprise because…
Are Canadian government bond yields headed lower in 2024? This is the expectation now that the Bank of Canada (BoC) is widely anticipated to cut interest rates early next year, according to investors in the futures market. After the benchmark ten-year yield topped 4.25 percent in October, the bond has slumped below 3.5 percent. The…
Performing due diligence is an essential part of preparing to purchase or lease commercial real estate. Due diligence aims to uncover information that might not be immediately apparent during a cursory property evaluation so buyers or tenants can reduce their exposure to risks and liabilities. In addition to researching the potential market, zoning, legal, structural…
Everyone knows someone who knows a thing or two about real estate, but we all know good intentions don’t always equal good advice. And that’s the premise behind RE/MAX Canada’s “Advice You Need” campaign. Now in its second year, the 2024 spring launch features the new “Strangersplain” video spot that highlights the importance of working…
Owning a home is a keystone of wealth… both financial affluence and emotional security.