More than eight hectares of land in Nova Scotia is designated for affordable housing in Middle Sackville and Dartmouth under the "Land for Housing Program." This initiative aims to create 1,100 housing units, nearly half of which will be affordable. The Affordable Housing Association will develop 106 mixed-market units, including 42 affordable, while Metro Premier Properties plans over 300...
Reverse mortgages in Canada are regulated and less risky compared to those in the U.S. Seniors can access tax-free cash based on their home's value without monthly payments, repaying the loan upon selling the home or passing away. Key points include the need for independent legal advice, potential fees, and the requirement to maintain property taxes and insurance. While they offer flexibility and...
Easing Interest Rates: Interest rates are decreasing, boosting buyer confidence and market activity. Average home prices are projected to rise by 1% to 6% by the end of 2024....
Purpose of Financing: - Loans: Various needs, like cars or education - Mortgages: Specifically for Real Estate or home equityBorrowing Amounts & Terms: - Loans: $100s to $1000s; term varies - Mortgages: $1000s to Millions; up to 30 years...
The Bank of Canada’s two rate cuts haven’t yet sparked a significant increase in homebuyers. In July, national home sales declined, but more rate cuts may influence buyers to re-enter the market....
Homeowners and investors should understand the rules, financing options, and tax implications involved in purchasing a second property in Canada. Continue to full article...
Canada needs 10-yr and 4.2M new homes to restore housing affordability. An average of 300K homes must be built yearly until 2035 to make housing affordable for Canadians....
Limited Benefit in High-Cost Areas: New rules won't significantly help buyers in expensive markets like GTA and Vancouver.Applies Only to New Builds: The 30-yr amortization extension is restricted to newly constructed homes....
The Bank of Canada (BoC) cut its policy rate by 25 basis points to 4.25% amid concerns about consumer spending and residential investment. Minutes from the September 4 meeting indicated that households may be waiting for lower rates before making significant purchases. While inflation pressures are easing, some members expressed worries about potential downside risks if economic activity continues to...