Real estate news across Canada

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  Bloomberg

  Once-Affordable US Housing Markets Are Now Out of Reach for Most

  (Bloomberg) -- As US home prices soared out of reach for many Americans, some corners of the country that used to have affordable housing markets have seen some of the steepest increases.Most Read from BloombergLarry Summers Says Fed Will Need to Boost Rates More Than Markets ExpectMusk’s Neuralink Hopes to Implant Computer in Human Brain in Six MonthsMusk Hails Release of Twitter Emails on Hunter Biden StoryStock Market Gamblers Let It Ride Again in Brutal YearWhy Blackstone’s $69 Billion Prope

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  Yahoo Finance Canada

  Mortgage costs now eat 67% of income in Canada: National Bank

  Canadian housing affordability has deteriorated for seven consecutive quarters.

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  CBC

  Economist corrects minister who cited him in defence of dropping rent cap

  A New Brunswick economist is setting the record straight after Housing Minister Jill Green cited him as an expert who doesn't think rent caps work. Richard Saillant said he doesn't oppose rent caps and doesn't believe they discourage housing development, which is what Green suggested in an interview with Information Morning Fredericton. Green has said that part of the reason the province is not extending the 3.8 per cent rent caps beyond this year is that "most economists" say they don't work an

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  Bloomberg

  UK House Prices Fall More Sharply After Mortgage Costs Jump

  (Bloomberg) -- UK house prices are falling more sharply than expected after a jump in borrowing costs quelled demand, Nationwide Building Society said.Most Read from BloombergMusk’s Neuralink Hopes to Implant Computer in Human Brain in Six MonthsAn Arizona County’s Refusal to Certify Election Results Could Cost GOP a House SeatScientists Revive 48,500-Year-Old ‘Zombie Virus’ Buried in IceFTX Missing Billions Remain Mystery After Bankman-Fried GrillingNew York, Singapore Are the World’s Most Expe

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  CBC

  Why Ontario buyers are scooping up investment properties in Calgary

  The days of Alberta bleeding residents to other provinces are gone, at least for now. In the second quarter alone, the province saw a net gain of about 10,000 people thanks to moves from other parts of the country, especially from Ontario. But people aren't just moving themselves and their families to Alberta — a high number are moving their money. In recent years, Calgary has seen a spike in out-of-province homebuyers scooping up investment properties they can rent out, with the primary motivat

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  CBC

  Province offers new incentives for multi-unit housing construction

  The P.E.I. government has announced a new funding program to encourage the development of more multi-unit housing in the province. The Residential Unit Development Incentive will provide a property tax rebate that gets lower each year for up to five years for newly constructed rental units, the province said in a news release. Eligible properties include buildings of at least 24 rental units in Charlottetown and Summerside, 12 rental units or more in Stratford and Cornwall, and buildings with at

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  Bloomberg

  US Pending Home Sales Drop for a Fifth Month on Higher Rates

  (Bloomberg) -- US pending home sales fell for a fifth month in October as demand continued to sag under the weight of high mortgage rates.Most Read from BloombergScientists Revive 48,500-Year-Old ‘Zombie Virus’ Buried in IceAn Arizona County’s Refusal to Certify Election Results Could Cost GOP a House SeatStock Traders Cheer Powell’s Risk-Friendly Shift: Markets WrapNYC Becomes One Billionaire Family’s Haven From China Property CrashThese Are the Best and Worst Cities for Expats to Live and Work

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  The Canadian Press

  Dallas Habitat for Humanity helps staff purchase homes

  Rebecca Thompson was about to sign a lease for an apartment with a friend in early 2020 when businesses started shutting down because of the COVID-19 pandemic. So instead, the 34-year-old decided to stay with her parents to save money. But with home prices skyrocketing in Dallas, she thought she’d never be able to buy her own home. That changed suddenly in July when her employer, the Dallas Area Habitat for Humanity, announced a new employee benefit: $13,500 in the form of a forgivable loan to h

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  CBC

  Insiders warn of crunch coming for Calgary rental market with prices expected to go even higher

  Calgary's tight rental market is likely going to get worse for renters before it gets better, say industry insiders. With more people moving to Calgary and demand soaring, new units have been going far faster than they were before. "It looks like we're heading toward a crunch," says Chris Ollenberger, a development consultant best known for his role in planning East Village. He says if the trends stay the way they are, Calgary will see almost no new units available in about a year — the fall of

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  Bloomberg

  Home Prices Drop for Third Straight Month as US Market Cools

  (Bloomberg) -- The US housing market pulled back even more in September, with prices slipping 1.2% from a month earlier.Most Read from BloombergScientists Revive 48,500-Year-Old ‘Zombie Virus’ Buried in IceBanks Stuck With $42 Billion Debt Seize Chance to Offload ItThese Are the Best and Worst Cities for Expats to Live and Work InApple to Lose 6 Million iPhone Pros From Tumult at China PlantThis Is Where Luxury Property Prices May Rise and Fall the Most in 2023It was the third straight decline f

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