Vancouver Housing not Affordable According to RBC
Filed Under Main Content · Tagged: Affordable Housing, Canada Cities, Downturn, Globe And Mail, Globe Mail, Mail Canada, Rbc, Risk, Vancouver
Globe and Mail
Canada cities offer reasonably affordable housing…Vancouver is at risk of a downturn. See all stories on this topic »
Home ownership costs continuing to climb despite slowing activity: RBC
Filed Under Main Content · Tagged: Affordability, Canada, Consecutive Quarter, Downturn, Economics Research, Economist, Hogue, Home Ownership Costs, Mortgage Rates, Ottawa Citizen, Owning A Home, Rbc, Resale Market, Rose, Slowdown, Tandem
Ottawa Citizen- The cost of owning a home in Canada rose for the fourth consecutive quarter despite the slowdown in the resale market, according to a housing report released Monday by RBC Economics Research.
"Higher mortgage rates in tandem with a further appreciation in home prices boosted the monthly costs associated with carrying a mortgage on a typical home," said RBC senior economist Robert Hogue. "This extended the deteriorating trend in affordability since the middle of last year."
But despite the downturn, he said affordability remained "within a safe range…”
Home ownership costs continuing to climb despite slowing activity: RBC
HST cooling housing market: Realtors
Filed Under Main Content · Tagged: Bank Canada, Bank Of Canada, British Columbia, Downturn, Harmonized Sales Tax, Housing Market, Lepage Real Estate, Poll, Quarter Point, Real Estate Agents, Real Estate Services, Realtors, Reason, Respondents, Rising Interest Rates, Royal Lepage Real Estate, Royal Lepage Real Estate Services, Sales Tax
Times Colonist- Almost half of its real estate agents say the main reason for the cooling housing market is the harmonized sales tax, according to a survey from Royal LePage Real Estate Services.
The company conducted an online-only poll of its realtors at the end of July — almost a month after the HST went into affect in British Columbia and Ontario — and found that 43.9% of the 769 respondents in those provinces blamed the new tax for the downturn. The HST was considered a bigger threat than rising interest rates despite two recent quarter point hikes from the Bank of Canada…
HST cooling housing market: Realtors
What’s behind Canada’s economic miracle?
Filed Under Main Content · Tagged: Arithmetic, Border, Downturn, Economic Miracle, Economic Revival, Fiscal Stimulus, Globe And Mail, Inventories, National Bureau Of Economic Research, Principal Factor, Rebound, Recession, Rsquo, Statistics Canada, United States
The Globe and Mail- Looking back to last year, it would have been inconceivable to talk about a Canadian economic miracle; however, that is exactly what we have on our hands today.
Unlike the nascent U.S. rebound, the Canadian recovery has occurred with no arithmetic support from inventories, and with a lot less intervention in the form of fiscal stimulus. The National Bureau of Economic Research is still unsure of when (or whether) the recession ended south of the border, but Statistics Canada boldly told us a little more than a week ago that the domestic downturn was officially terminated back in the third quarter of last year.
So, what was the principal factor underpinning this impressive Canadian economic revival, especially in relation to what is happening in the United States? We can answer the question in one word: housing…
What’s behind Canada’s economic miracle? Housing – The Globe and Mail
