Home sales rebound, but it won’t last long, analyst says
Filed Under Main Content · Tagged: Adjusted Basis, Ahead, British Columbia, Canada, Canadian Real Estate, Consumers, Existing Home Sales, Harmonized Sales Tax, Home Purchases, Hst, Implementation, Industry Consensus, July 1, Real Estate Association, Rebound, Sales Tax
Times Colonist- Existing home sales in Canada rebounded in August, but the industry consensus is both prices and activity will decline the rest of this year. The only argument is by how much.
The Canadian Real Estate Association reported yesterday that August sales were up 4.1% on a seasonally adjusted basis from July — a bad month for home sales because of the effects of the harmonized sales tax implementation in Ontario and British Columbia. As consumers scrambled to make their home purchases ahead of the July 1 HST deadline, June figures saw a boost, but July sales withered…
Home sales rebound, but it won’t last long, analyst says
Why I wouldn’t mind being a first-time buyer right now
Filed Under Main Content · Tagged: Confusion, Consumers, Estate Organizations, Favour, First Time Buyer, Homebuyers, Hst, Lotus, Lotus Land, Metro Vancouver, Property Ladder, Pundits, Purchase Decisions, Real Estate Market, Resale Homes, S Market, Summer Fling, Tactic, Vancouver Real Estate, Vancouver Sun
The Vancouver Sun- Real estate pundits are starting to announce -albeit somewhat apologetically, in some cases -that the Metro Vancouver real estate market is now leaning away from sellers in favour of buyers.
Hey, there’s nothing wrong with a buyer’s market. If market balance and sharper pricing allow more folks to climb on to the property ladder, bring it on. And history teaches us market conditions in Lotus Land-by-the-Sea can shift quickly. The buyer’s market might be short-lived, a summer fling.
I have also noticed that real estate organizations believe the HST has caused some confusion among homebuyers, perhaps stalling their purchase decisions. These organizations want consumers to know there is no HST on resale homes. Hmm, I wonder if this messaging, given the increase in listings, is aimed at steering buyers to resale homes. That tactic would be way too obvious, wouldn’t it?…
Why I wouldn’t mind being a first-time buyer right now
Why I wouldn’t mind being a first-time buyer right now
Filed Under Main Content · Tagged: Confusion, Consumers, Estate Organizations, Favour, First Time Buyer, Homebuyers, Hst, Lotus, Lotus Land, Metro Vancouver, Property Ladder, Pundits, Purchase Decisions, Real Estate Market, Resale Homes, S Market, Summer Fling, Tactic, Vancouver Real Estate, Vancouver Sun
Vancouver Sun- Real estate pundits are starting to announce -albeit somewhat apologetically, in some cases -that the Metro Vancouver real estate market is now leaning away from sellers in favour of buyers.
Hey, there’s nothing wrong with a buyer’s market. If market balance and sharper pricing allow more folks to climb on to the property ladder, bring it on. And history teaches us market conditions in Lotus Land-by-the-Sea can shift quickly. The buyer’s market might be short-lived, a summer fling.
I have also noticed that real estate organizations believe the HST has caused some confusion among homebuyers, perhaps stalling their purchase decisions. These organizations want consumers to know there is no HST on resale homes. Hmm, I wonder if this messaging, given the increase in listings, is aimed at steering buyers to resale homes. That tactic would be way too obvious, wouldn’t it?…
Why I wouldn’t mind being a first-time buyer right now
Annual HST hit for average B.C. household is $521
Filed Under Main Content · Tagged: Amount Of Money, Bottom Line, Economics Professor, Harmonized Sales Tax, Household, Households, Hst, Married Couple, People, Sales Tax, Schuetze, Single Parents, Statistics Canada, Times Colonist, University Of Victoria
Times Colonist- The average B.C. household could take a hit of $521 to its bottom line next year as a result of the harmonized sales tax, according to a model prepared for the Times Colonist by Statistics Canada.
The change could range anywhere from $78 for households with single parents and one child to $801 for a married couple with no children, the figures show.
"There are certainly individuals and households that will feel the impact of this tax," said Herbert Schuetze, economics professor at the University of Victoria. "For example, if you are unattached and 65 years or older we’re talking about $262 a year. That’s a considerable amount of money for some people…"
