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  • Calgary home sets MLS record sale at $10.35 million
    Feb 28, 2013 — An opulent home described as a 'French castle' has set a record for the highest ever MLS sale price in Calgary as the property in Aspen Woods sold for $10.35 million on Wednesday.
    Source: Mario Toneguzzi, Calgary Herald
  • CMHC seeking to hide foreclosure information from home buyers
    Feb 27, 2013 — Canada Mortgage and Housing Corp. has been asking realtors for months to keep consumers in the dark about whether the properties it sells are part of a foreclosure, according to a document obtained by The Financial Post.
    Source: Garry Marr, The Financial Post
  • Calgary housing market experiencing positive momentum
    Feb 27, 2013 — Calgary's housing market is experiencing positive momentum and is a "lone shining star" in the Western Canadian real estate market, according to a report by TD Economics.
    Source: Mario Toneguzzi, Calgary Herald
  • 'I'm afraid of a condo crash': Canadian real estate investors fret as housing blitz winds down
    Feb 27, 2013 — Toronto is awash in real estate. There were 144 skyscrapers under construction in late February, more than in any other city in the world, according to Proposals for new condos reached 253,768 units at the end of the fourth quarter, up 10% from a year earlier, Toronto-based research firm Urbanation Inc. says. Four luxury hotels, each featuring condos, have opened in the past two years.
    Source: Jacqueline Thorpe, Theophilos Argitis and Katia Dmitrieva, Bloomberg News, The Financial Post
  • Is it time to pay bankers in mortgage bonds?
    Feb 27, 2013 — The wobbly state of Canada's housing market is garnering a lot of attention these days, something that the banks are not exactly happy about. That's maybe understandable given the size of their mortgage businesses.
    Source: John Greenwood, Financial Post
  • Mortgage RRSPs remain a niche product for investors
    Feb 26, 2013 — Many Canadians may not be aware of it as an investment option, but holding a mortgage in your RRSP can be a way to generate consistency and stability during periods of fluctuating equity markets and low fixed income returns.
    Source: Talbot Boggs, The Canadian Press, Globe and Mail
  • Nearly half of Baby Boomers have no intention of downsizing
    Feb 26, 2013 — Despite the perception that aging Baby Boomers may create an oversupply of traditional single family homes as they downsize into smaller residences, a new Royal LePage Real Estate survey, released Tuesday, shows that demand for suburban detached homes remains strong among Baby Boomers and Generation Y.
    Source: Mario Toneguzzi, Calgary Herald, Edmonton Journal
  • Calgary listed as one of the more affordable housing markets in Canada
    Feb 25, 2013 — Calgary experienced a housing market renaissance in 2012, reaping the benefits of strong provincial GDP and in-migration, which propelled home resales in the area, says a report released Monday by RBC Economics Research. The latest Housing Trends and Affordability Report listed Calgary as one of the more affordable housing markets in Canada.
    Source: Mario Toneguzzi, Calgary Herald
  • Home ownership costs down in Vancouver, Toronto, but far from steady
    Feb 25, 2013 — TORONTO - A new report says the cost of home ownership in most major Canadian markets was down slightly in the last three months of 2012 but notes that pressure on household budgets remains somewhat above the historical average.
    Source: David Paddon, The Canadian Press, CTV News
  • Housing affordability not a problem for most families
    Feb 25, 2013 — Affordability is not a major problem for the median-income family seeking to buy a detached home in three-quarters of Canada's housing market or a condo in Toronto, and should not become one even when rates normalize, according to a report from BMO Economics.
    Source: News Staff,
  • What tone will Mark Carney set for final months as Bank of Canada head?
    Feb 25, 2013 — Mark Carney will deliver a speech later on Monday that could give further hints as to what tone he'll take on Canada's economy and interest rates as his tenure as Bank of Canada boss heads into its final months.
    Source: Matt Reeder, Financial Post
  • House prices to continue climbing, CMHC says
    Feb 22, 2013 — Canada's cooling real estate market is taking its toll on homebuilding, and the increase in home values. Canada Housing and Mortgage Corp. said today it expects housing starts to sink in the early part of this year, before picking up later in 2013 and moving "slightly higher" next year.
    Source: Michael Babad, The Globe and Mail
  • 'Move-up buyers' did well in Regina and Saskatoon, real estate report says
    Feb 22, 2013 — A report by a real estate company says home owners in Regina and Saskatoon who have moved on to different homes have done very well, compared to the rest of Canada. The Re/Max report on so-called move-up buyers found that Regina buyers gained the most on the sale of their existing home relative to other markets.
    Source: News Staff, CBC
  • Home building slump forecast in latest sign of faltering economy
    Feb 22, 2013 — Canadian housing starts will slow to an annual pace of 190,300 units this year, from 214,827 last year, a drop of 11%, the federal housing agency said. The annual pace of work will range between 178,600 to 202,000 units in 2013, Canada Mortgage & Housing Corp. said in an e-mailed statement Friday. Construction will pick up next year, with starts reaching about 194,100 units on an annual basis, CMHC said.
    Source: Andrew Mayeda, Bloomberg News, The Financial Post
  • Calgary and area average house prices jump 108% over 10 years
    Feb 21, 2013 — Calgary's residential housing market is poised for expansion in 2013, with move-up buyers set to lead the charge, says a report released Thursday by RE/MAX.
    Source: Mario Toneguzzi, Calgary Herald
  • Deductions from rental expenses worth a look
    Feb 20, 2013 — If you rent out a room or a floor in your home, or the other half of your duplex, you may deduct certain expenses connected with earning that rental income.These expenses may include the proportion of your property taxes, mortgage interest, repairs and maintenance, insurance, light, heat, and other utilities that relate to the rental space.
    Source: Courier-Islander,
  • U.S. real estate continues to draw snowbirds looking for good deals
    Feb 20, 2013 — A strong loonie and the soft U.S. housing market continues to inspire Canadians to shop for vacation or rental property south of the border. "People are still finding good deals and buying U.S. real estate," says Tannis Dawson, senior specialist of tax and estate planning at Investors Group in Winnipeg.
    Source: Rosemary McCracken, Postmedia News, National Post
  • A quick guide to using your RRSP to buy a house
    Feb 20, 2013 — The Home Buyers' Plan (HBP) was designed to let first-time home buyers withdraw up to $25,000 from a registered retirement savings plan to buy a principal residence. This withdrawal is not taxed and must be paid back to your RRSP in 15 years.
    Source: Clay Gillespie, The Globe and Mail
  • About the first-time home buyers' tax credit
    Feb 20, 2013 — If you acquire a qualifying home, you might qualify for a home buyers' tax credit (HBTC), which is a non-refundable tax credit worth up to about $750.
    Source: Courier-Islander,
  • Rents to continue to grow, but economy expected to grow in 2014: CMHC
    Feb 20, 2013 — While rents will continue to rise, there will be pressures on affordability, and the overall housing market in Ontario will slow or flatten, but it is expected to pick up in 2014.
    Source: Desmond Devoy, Your Ottawa Region
  • Carney welcomes real estate slowdown
    Feb 19, 2013 — Canada's once-hot housing market has already begun to cool as Canadians temper their appetite for debt, Carney said in a television interview broadcast Sunday, adding the market likely has a couple of more years of adjustment.
    Source: The Canadian Press, Ottawa Business Journal
  • Attainable homes initiatives gaining popularity
    Feb 18, 2013 — With prices in Calgary's real estate market continuing to rise, a growing trend is emerging in the popularity of attainable housing initiatives in the city. Attainable Homes Calgary and McPherson Place - two separate projects - have seen an explosion of interest by Calgarians who want to get into home ownership.
    Source: Mario Toneguzzi, Calgary Herald
  • Canadian home sales drop in January as prices rise 2%
    Feb 15, 2013 — Home prices continued to climb in January, while total sales fell from a year before, according to the Canadian Real Estate Association. The average national sale price of a home rose two per cent from January 2012 to $354,754 last month, although excluding sales in Vancouver, the average price increased 3.3 per cent.
    Source: News Staff, CBC
  • IMF says Canada's housing market still overvalued, warns more intervention may be needed
    Feb 15, 2013 — Canadian housing prices were still about 10% overvalued at the end of 2012, the IMF said on Thursday, and it warned that authorities may have to intervene a fifth time in the mortgage market if personal debt levels rise further.
    Source: Louise Egan, Reuters, Financial Post
  • Housing starts hit new high
    Feb 14, 2013 — The last time housing starts were this high in the province, Margaret Thatcher had just been elected the first woman Prime Minister in British history, the Soviets invaded Afghanistan and Iranian students were taking over the United States embassy in Tehran. That's right, last year Saskatchewan posted the highest number of housing starts since 1979.
    Source: News Staff, Leader Post
  • Housing-crash prophets should check their numbers again
    Feb 14, 2013 — Some people are predicting a crash in the Canadian housing market because price-to-income and price-to-rent ratios have gone up a lot. But these ratios omit mortgage rates, a key determinant of prices. A better guide, in my view, is the housing affordability index published by Royal Bank of Canada (RBC).
    Source: Larry MacDonald, The Globe and Mail
  • Mortgage rules might be 'insufficient' to curb debt
    Feb 12, 2013 — Targeted rules are often a better way to deal with a buildup of risk in the economy than monetary policy, BoC Deputy Governor Timothy Lane said in his prepared remarks for a speech he gave today at Harvard University. So, for example, if households have gone on a borrowing binge and house prices are inflated, you'd be better off tightening mortgage regulations than raising interest rates.
    Source: Erica Alini, Macleans
  • Your bank mortgage: Is it fair and does it suit your needs?
    Feb 12, 2013 — Banks operate under the scrutiny of government watchdogs. But when it comes to mortgages, those watchdogs don't watch everything they could.
    Source: Robert McLister, The Globe and Mail
  • Carney says Canadians listening to warnings on debt
    Feb 12, 2013 — Bank of Canada governor Mark Carney today faced Canadian MPs for the first time since announcing his resignation and appointment as England's central bank governor. On the topic of household debt, Carney said "Canadians are listening" to the continued warnings of both the Bank of Canada and the Canadian government. He said he expects household debt levels to stabilize at current record levels.
    Source: News Staff, CBC
  • High-income couple has to deal with some real estate headaches
    Feb 11, 2013 — Alberta couple, Edward, 58, and Sue, 56, earn gross income of $247,200 per year from working in two great jobs - his in transportation management, hers in health care. Yet they are almost broke.
    Source: Andrew Allentuck, The Financial Post


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