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  • #16
    Housing starts cool in February as condo construction slows down

    The Canada Mortgage and Housing Corporation says the pace of new housing construction slowed in February, with fewer multiple-dwellings such as condominiums and apartments being built in big cities.

    CMHC says the seasonally adjusted annual rate decreased to 156,276 units in February, down from 187,025 in January. That was below an the consensus economist expectations of 179,000 and the fifth consecutive monthly decline.

    Construction dried up in eight of the ten provinces.

    More: http://www.cbc.ca/news/business/hous...down-1.2986886

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    • #17
      Housing squeeze leads many young families to opt for condo living

      As young professionals start thinking of starting a family, the norm has been to trade the downtown condo for a larger home with a spacious yard and a white picket fence.

      But that dream is remaining just that — a dream for many who are squeezed out of pricey housing markets in cities such as Toronto and Vancouver.

      Violeta Coriea and her husband are raising their two kids, who are both under five, in a 700 sq.foot apartment in Toronto. With the family's restaurant business close by, moving to a bigger home in the suburbs doesn't make sense, but nearby semi or detached homes are rare or way too expensive:


      More: http://www.cbc.ca/news/canada/britis...ving-1.3008231

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      • #18
        Real estate woes: The secret lives of house poor Canadians

        They look like the family that has it all. Louise Edgerton, her partner, John Camus, and her 10-year-old daughter, Fianna, joke around while making brownies. They move around with ease in the gleaming white kitchen of the new dream home they designed themselves.

        But for Edgerton, one financial setback could change everything. "I am discouraged, because I don't see the light at the end of the tunnel. It's a little bit of a house of cards that could fall down at any time," she says.

        The family is house poor, or as Edgerton puts it, "house rich and cash poor." They live in Lachute, Que., about an hour outside of Montreal, far from the housing hot zones of Toronto and Vancouver.


        More: http://www.cbc.ca/news/business/real...ians-1.3086793

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        • #19
          House prices may stay high in Canada: Here's why

          A friend of mine sold her Toronto house because prices were so high. She didn't want to get caught in the downdraft.

          If you've been listening to all the warnings from foreign banks about a Canadian house price crash, that sounds smart. But before you congratulate my chum on her forethought, you should know she made that decision several years ago.


          More: http://www.cbc.ca/news/business/hous...-why-1.3095421

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          • #20
            Fed chair Yellen tells Canadian homeowners to watch out: Don Pittis

            The financial analysts think they have it figured out. After listening to U.S. Federal Reserve chair Janet Yellen's speech and her wily answers to questions from reporters, the consensus seems to be that a rate rise is coming later this year — the first one probably in September.

            While that date is of crucial interest to market wheeler-dealers, for Canadian mortgage-holders Yellen had a far more important message. It is especially important in a week when Manulife warned that for many home owners, a rate hike could be trouble.


            More: http://www.cbc.ca/news/business/fed-...ttis-1.3117599

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            • #21
              Foreign buyers driving demand for luxury homes, Sotheby's says


              International demand is expected to keep driving luxury real estate sales in Canadian cities for the rest of the year, according to a report from Sotheby's International Realty.

              A faltering Chinese economy and volatile global stock markets are likely to encourage an influx of foreign buyers, especially from mainland China, the company said in its fall outlook report.


              http://www.cbc.ca/news/business/soth...1.3229347More:

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