Today's good inflation news and weakening economic data suggest that the Bank of Canada will cut its overnight policy rate by another 25 bps on September 4. Additional monetary easing is also likely in October and December, continuing through much of next year, triggering a rebound in housing activity. View this email in your browser More Good News On The Cana... read more

In the one-year period from May 2022 to May 2023, interest rates more than doubled. The prime rate (an average of the best rates of major commercial banks) rose from 3.2% to 6.7% while the underlying Bank of Canada overnight lending rate rose from 1% to 4.5%. The effect on Canadian homeowners has been significant. Imagine a family makes monthly payments on a $300,000 variable rate mortgage with a 25-year amortization. At 3.2%, the monthly payment would be $1,450, but at 6.7%, the monthly payment becomes $2,046&mda... read more

Three days after David Eby took office as British Columbia’s Premier on November 18, 2022, he announced sweeping reforms to rental restrictions in strata properties through Bill 44, which received Royal Assent and went into effect on November 24, 2022. Bill 44 was designed to address the province’s housing shortage and indirectly lower rental rates. The average rent for a one-bedroom apartment in B.C. was $2,163 in February 2023 (Rental.ca). High rents and low supply are especially difficult for studen... read more

The fresh air, majestic trees, and placid lakes of cottage country have attracted summer vacationers for generations. Now, thanks to modern technology and a precipitous increase in real estate prices (33% for residential properties from June 2017 to June 2022, according to the Canadian Real Estate Association), cabin fever has struck.  Canadians are embracing cottages and cabins as an affordable housing option. Some people choose it for year-round living, while others simply wish to spend more time away from ... read more

By 2041, one in four Canadians, nearly 25%, will be over the age of 65. Just a generation earlier, in 2011, that figure was only 14.8%. This demographic shift has already caused a population explosion in retirement-friendly cities such as Penticton, British Columbia; Charlottetown, Prince Edward Island; and London, Ontario. City planners are scrambling to build more apartments and retirement residences near vital amenities such as shopping malls, hospitals and medical offices.   The latest statistics show that... read more