Gerry’s Blog
Bank of Canada’s Interest Rate Announcement: Increase of 0.25% The Bank of Canada‘s overnight rate is back on the upswing, per this morning’s interest rate announcement. The Bank raised its key rate to 4.75 per cent, marking the first increase since January and the highest rate we’ve seen since April 2001. Why the upward movement?…
As we progress through 2023, many people want to refresh their living spaces and incorporate new design elements like sustainable materials and vibrant colour palettes. Interior design trends for this year promise to be exciting and innovative. With an emphasis on creating spaces that promote well-being and connection to nature, designers are exploring new ways…
Are homebuyers feeling renewed confidence in the Canadian real estate market? In February, national home sales rose 2.3 percent month-over-month, although they had dropped 40 percent from the same time a year ago, according to the Canadian Real Estate Association (CREA). Considering that interest rates might have peaked, and the national average sale price was…
Multi-generational homes are residences that house multiple generations of a family, including grandparents, parents, and children, under one roof. These homes provide a practical solution to the changing demographics of Canadian society, economic pressures, and social and cultural factors. Multi-generational homes are becoming more popular in Canada as families seek to live together to save…
Office real estate continues to struggle in markets across the country as employers wrestle with hybrid work models, particularly in the downtown core, according to the RE/MAX 2023 Commercial Real Estate Report. RE/MAX examined 12 commercial real estate markets from coast to coast, and found that reducing their physical footprint to reduce costs is top…
Commercial land sales remained solid in the first quarter of 2023, despite higher interest rates and construction costs, according to the RE/MAX 2023 Commercial Real Estate Report. RE/MAX examined 12 commercial real estate markets from coast to coast, and found acreage-zoned industrial, multi-family and retail were the most sought-after in major Canadian centres. Read the…
The RE/MAX 2023 Commercial Real Estate Report examined 12 commercial real estate markets across Canada in the first quarter of 2023 and found that industrial real estate continued to outperform almost every other asset class, with all markets reporting strong sales and lease activity. With both property and lease values climbing, investors and end users…
Commercial conversions to residential are considered by some RE/MAX brokers to be a key strategy in breathing much-needed new life into the downtown core of key markets from coast to coast, while others have argued that it isn’t a practical solution from an engineering or financial perspective, according to the RE/MAX 2023 Commercial Real Estate…
Retail real estate continues to be surprisingly robust, given the growth of online sales in recent years, according to the RE/MAX 2023 Commercial Real Estate Report. RE/MAX examined 12 commercial real estate markets from coast to coast, and found almost 92 per cent of markets (11/12) reported solid activity in retail nodes and shopping centres….
Property taxes and real estate taxes are two terms that are often used interchangeably, but they refer to different things. While they are both related to the ownership and maintenance of the property, they have distinct differences that can affect homeowners and investors in various ways. Understanding the nuances between these two types of taxes…
Owning a home is a keystone of wealth… both financial affluence and emotional security.