15% property transfer tax on foreign buyers – what next?

Jeff Evans

Some trends to look for in real estate in the coming months

Vancouver housing
By: JamesZ_Flickr

Wow!  I honestly did not see this day coming…it must have been the last 6 years of writing about it consistently…they are listening to me!  Or not.  I simultaneously had both the reactions “They finally did something about this” and “This seems heavy handed.” as I heard more about these changes.Read More

Why is the real estate market in the Greater Vancouver Area going crazy?

Jeff Evans

Here is another reason, and its one that is largely overlooked

housing market

On my website, since mortgages are so BORING for people to read about, and subjectively painful to enter into, most of what I write about centres around two things:

  1. 1) Government regulation of the mortgage lending rules making it difficult for the average resident to obtain a mortgage to get into the housing market.
  2. 2) The obscenely expensive housing market in the Greater Vancouver Area and the causes of it.

This article is about point number 2.  But its a new slant on it!Read More

Cash in on your property values with a refinance!

If you have followed my blog for a while, I think you would understand me saying that I find it difficult

mortgage refinance
By: Damian Morys

to come up with interesting original material to provide.  I mean…I am selling getting into the biggest DEBT that most people will ever likely incur, and I talk about a local housing market that appears out of control but actually is NOT.

The product I offer is intangible, and is the “nasty” part of a transaction that people otherwise enjoy.  No one goes out shopping to purchase that hot sexy mortgage, there is no Gucci or Prada branded mortgages I can put in the window that anyone will be interested in buying.  There’s an idea to justify a higher interest rate! “Yeah, I paid double what everyone else is paying, but it’s so worth it, the paper that I signed was so soft and smooth, and the quality of the printer was amazing!”

Anyways, rather than just write my grievances with the current situation, I tried to think differently.  Read More

Toronto home prices “push the boundary”: BNN

Jeff Evans
Vancouver house prices
By: JamesZ_Flickr

There is a video on the BNN website in which they interview an economist with Mortgage Brokers Canada.  He talks about the hot housing market in Toronto (which is the second hottest home market in Canada to Vancouver) among other things.  One of the primary aspects of the hot market that he talks about is that low interest rates are driving price increases.  The foreign ownership issue is raised and he stated even 5% of buyers being foreign buyers would affect the market significantly also.  (I suspect that the number is much higher, but no one has firm data on this.)Read More