Buying Frenzy, Federal Housing Programs, Bank of Mom & Dad, Income Properties, Permit Trends, 26 Storey Condo Tower in Esquimalt, Household Debt Among Highest in G7

 

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REAL ESTATE SEARCH REAL ESTATE NEWS Business in Vancouver – Data points: B.C. building permits recover to 12-month average in MarchTimes Colonist - Developer aims to build 26-storey condo tower in Esquimalt VANCOUVER ISLAND PERMIT TRENDS - Yellow Sheet  Thousands living in Royal Bay welcome first retail complex - Times Colonist Bloomberg - Canada's homebuyers need help from 'Bank of Mom and Dad' A buying frenzy is re-emerging in Canada after one of the steepest housing price declines in the nation’s history. In Toronto, properties are selling the day they hit the market. In Vancouver, lines for open houses are stretching down the block. Homes are now once again selling for hundreds of thousands of dollars over asking. Real Estate Magazine – More than 1 in 4 plan to purchase an investment property in the next 5 years Storeys – Investors account for nearly one-third of homeowners in some provinces Who are Canada's real estate investors, and where are they buying? (CTV News)  'Not a short-term fix': Canada's household debt amongst highest in G7 (iHeartRadio)  As climate change threatens Canada’s infrastructure, builders look for resilient solutions (Globe and Mail)  Real Estate Magazine – Balancing rights and expectations: A case study on joint property ownership CBC News – Households now owe more than Canada's entire GDP, housing agency warns CBC News – Rise in extreme wildfires linked directly to emissions from oil companies in new study Livabl – New home mortgage applications increase for the third straight month in April Canadian Mortgage Professional – How can first-time homebuyers navigate the current market? Canadian Mortgage Professional – Homebuying activity: How quickly is it rising? Ottawa Citizen – HOUSEWORKS: Don’t let sump pump setup leave you stumped Canadian banks pricing in a recession around the end of the year: Portfolio manager (BNN Bloomberg)  How could the U.S. debt ceiling standoff affect Canada? Here’s what economists say (BNN Bloomberg)  Real Estate Magazine – Economic conditions and changing preferences: Insights from first-time homebuyers CTV News – While most real estate markets see monthly gains, here's where home prices are falling National Post – Cottage country braces for the invasion of the floating home Globe and Mail – Bank of Canada says mortgage payments could spike as much as 40 per cent Another interest rate hike? Economists divided on Bank of Canada's next step (BNN Bloomberg)  Why Bank of Canada is in no rush to cut interest rates (Wealth Professional)  Is now a good time to take the leap into homeownership? (Wealth Professional)  Scotiabank chief economist says another BoC rate hike is 'required,' but not everyone agrees (CTV Business News)  Why mortgage and rent costs drove inflation up in Canada (Global News: Video)  Federal Housing Programs BC - CREA 7 DAY REAL ESTATE MARKET UPDATE NOTABLE QUOTES  “Don’t judge each day by the harvest you reap, but by the seeds that you plant.” Robert Louis Stevenson Have you ever noticed that, when it comes to real estate, there’s news, and then there's news you can actually use? For example, most major newspapers, both print and online, publish updates on the real estate market — but only nationally and regionally. They don’t tell you what's going on in your specific neighbourhood because, by necessity, they can only cover a broad area. But news that's broad and general has limited value to you. The real estate information that's most useful, especially if you're thinking of selling, is local. It’s specific to your neighbourhood – maybe even to your street. That's where I can help. When you have questions about the local real estate scene, give me a call. I can provide you with the latest information, data, and insights for your particular area. That’s news you can actually use to make better decisions about selling or buying. Best regards, Diana Winger Personal Real Estate Corporation CNE, SRS, SRES, ABR eXp Realty | 250-588-8839 | HomeVictoria.com | Housesforsale369.com  ON YOUR TEAM!