Vancouver incentives not enough to get rental units built on higher-priced land
Posted on Jul 25, 2019
City staff hope to encourage developers to build more stock in low-density neighbourhoods where land is cheaper than in commercial areas.
Vancouver says cost breaks for mid-market rental housing aren’t enough to lure developers away from more profitable projects.
A 10-year review of the city’s rental incentives found they helped create over 8,700 ren...
How to get a mortgage when you’re self-employed
Posted on Jul 23, 2019
In Metro Vancouver, 15 per cent of the workforce is now self-employed and many work out of their homes, according to Canada Mortgage and Housing (CMHC).
If you’re self-employed and thinking of buying a home, you’ll need to know about new mortgage rules.
To increase your chances of qualifying, you'll need to be familiar with what lenders require and...
Future of historic, dilapidated Navvy Jack house in West Vancouver up for debate
Posted on Jul 21, 2019
Ambleside heritage house may be turned into nature centre, says district
The Navvy Jack house in West Vancouver, B.C., stands empty. (Ben Nelms/CBC)
The District of West Vancouver is consulting with the community and the Squamish Nation over the future of a waterfront heritage house.
The Navvy Jack house next to John Lawson Park in the Ambleside neigh...
Attracting millennials: How builders and developers are reeling in the new generation of buyers
Posted on Jul 18, 2019
They typically go for condos with amenities, but those who want a family are leaving the city and going as far as the Niagara region Millennials have helped gentrify neighbourhoods such as the Junction. Peter J Thompson/National Post
Many millennials can’t afford a home but William Cole, 27, sold one and is on the cusp of owning three others.
Cole ba...
Canada’s mortgage stress tests just got a little easier
Posted on Jul 18, 2019
The interest rate used in Canada’s mortgage stress tests has fallen for the first time since 2016, making it slightly easier to become a homeowner.
The mortgage qualifying rate dropped to 5.19 per cent from 5.34 per cent, where it had been locked since May of 2018, according to new figures from the Bank of Canada. The rate is derived from the most f...
Slowest lending growth in 25 years reveals the true impact of the mortgage stress test
Posted on Jul 17, 2019
This slowdown even more severe than the housing market slump sparked by the Great Recession in 2008
Mortgage brokers and lenders have argued that the tightening of mortgage regulations in January 2018 adversely impacted the growth of mortgage lending in Canada.
A report released Tuesday by the Canada Mortgage and Housing Corporation confirmed this as...