B.C. tax on vacant homes raised $88 million in 2019 but did little to reduce home prices or improve rental affordability, housing experts say Andrew Duffy Times Colonist and WI Staff Western InvestorJanuary 12, 2021 While popular – and profitable for the provincial government – B.C.’s two-year old speculation tax and vacancy tax has not met its […]
December home sales in Chilliwack reach 16-year high With low supply and high demand, prices continued to increase across the Upper Fraser Valley ERIC WELSH Jan. 5, 2021 3:30 p.m. LOCAL NEWS NEWS December 2020 was a record month for Chilliwack real estate. According to the Chilliwack and District Real Estate Board (CADREB), 279 sales […]
Insured mortgages are running at record highs across Canada, meaning that banks are still actively lending and approving residential real estate mortgages. These risk free loans backed by CMHC and the Federal Government are a way to continue to bolster our failing economy and keep Canadians borrowing and spending money.
The exit of the CMBPP leaves long term collateral damages like double digit price growth and widens the wealth inequality gap between renters and asset holders even further. The BOC had a primary directive to stabilize the economy with the Bond Purchasing Program and stated the widening wealth gap is a by-product of this best policy approach.
Housing sales in northern B.C. hit the second-highest level on record in the third quarter, but data also reveals reasons for concern By Frank O’Brien Western InvestorOctober 9, 2020 Residential sales across northern B.C. reached near all-time records in the third quarter but concerns are rising about market sustainability if the COVID-19 pandemic persists. “The third […]
The competition is getting tough in several regions including 100 Mile House, Williams Lake, Prince George, Fort St. John, Smithers, Terrace, Kitimat, Prince Rupert, Fort Nelson, Mackenzie and Quesnel all saw incredible sales figures and record prices. Great demand and small supply continues to create multiple offers on medium to lower priced housing. Read More>
August sales were up 56 per cent in the Fraser Valley and 63 per cent in Chilliwack as price increases hit double-digits WI Staff Western InvestorSeptember 14, 2020 The Fraser Valley, including Chilliwack, posted impressive sales increases in August as total home sales across B.C. soared from the same month a year earlier. B.C. home sales […]