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Real Estate in Canada

Vancouver-area home sales rebounded in May, real estate board says

  • The Real Estate Board of Greater Vancouver (REBGV) says May home sales increased 15.7 per cent compared to the same month a year ago as average prices also rose. "Our forecast projected prices to be up modestly in 2023 by about two per cent at year-end," said Andrew Lis, REBGV's director of economics and data analytics, in a news release. "Instead, Metro Vancouver home prices are already up about six per cent or more across all home types at the midway point of the year." The composite benchmark

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Displaced residents face challenges on Day 4 of wildfire evacuation

Displaced homeowners were longing to return home as the Halifax-area wildfire evacuation entered its fourth day. Some residents are wondering if their pets are alive, while others want to get to their homes to retrieve medicine, but firefighters say it is still potentially dangerous. (May 31, 2023)
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  • The Canadian Press

    Re/Max report forecasts commercial real estate upswing later this year

    A new report released by Re/Max Canada predicts some Canadian cities could see an upswing in demand for commercial real estate in the next six months. The company says despite evolving conditions in the sector since the pandemic, it sees resilience across the 12 commercial real estate markets it reviewed in the first quarter of 2023. Industrial real estate is leading the way, with rising property values in B.C. and Ontario causing a spillover of demand to cities such as Edmonton, Calgary, Regina

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  • The Canadian Press

    Calgary home sales reach new May record, new listings down: real estate board

    CALGARY — The Calgary Real Estate Board says the market hit a new May record for sales as the number of properties that changed hands reached 3,120 last month. The Albertan board says the sales amount to an almost two per cent increase from last May, when sales totalled 3,063. Despite the record, year-to-date sales are still almost 30 per cent behind where they were last May and the board says the market has still not shifted completely away from the declines seen at the start of the year. The b

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  • CBC

    These Toronto tenants are sick of above-guideline rent increases. Now, they're taking action

    About 200 residents of a west-end Toronto highrise have decided to stop paying rent in protest of above-guideline rent increases at their building, says their tenant association. Beverley Henry, who has lived at 33 King St. for close to a decade, is one of the tenants involved. She says by September, her rent could be 40 per cent higher than it was when she moved into the building near Lawrence Avenue West and Weston Road. As a senior on a fixed income, Henry worries she might end up on the stre

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  • CBC

    Plateau-Mont-Royal apartment building to be turned into affordable housing

    A 93-unit building overlooking Montreal's Parc La Fontaine had become an emblem of the city's housing crisis — but now Manoir Lafontaine will be converted into affordable housing units. Hillpark, a company run by Brandon Shiller and Jeremy Kornbluth, owned the building located in the city's Plateau-Mont-Royal borough for several years before selling it to Interloge — a non-profit group specializing in affordable housing — for $18,810,000. The transaction was finalized Tuesday. "This is good news

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  • Bloomberg

    Billionaire Perot Warns of Real Estate Recession as Loans Dry Up

    (Bloomberg) -- Ross Perot Jr., whose family is one of the largest independent property developers in the country, warned of a looming real estate recession if banks don’t start lending again.Most Read from BloombergChina Is Drilling a 10,000-Meter-Deep Hole Into Earth’s CrustS&P 500 Almost Wipes Out Its Monthly Advance: Markets WrapDebt-Limit Deal Wins House Passage, Easing US Default ConcernsHedge Funds Are Deploying ChatGPT to Handle All the Grunt WorkElon Musk Again World’s Richest Person as

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  • Bloomberg

    Australia’s House Prices Rise Sharply in May, Driven by Sydney

    (Bloomberg) -- Australia’s house prices climbed for a third straight month in May, suggesting further interest-rate increases may be needed to cool resurgent demand that threatens to exacerbate inflationary pressures in the economy.Most Read from BloombergChina Is Drilling a 10,000-Meter-Deep Hole Into Earth’s CrustS&P 500 Almost Wipes Out Its Monthly Advance: Markets WrapHedge Funds Are Deploying ChatGPT to Handle All the Grunt WorkTwitter Is Now Worth Just 33% of Elon Musk’s Purchase Price, Fi

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  • CBC

    Parkdale residents protest against landlord's application for 'above-guideline' rent increases

    Residents of two apartment buildings in Toronto's Parkdale neighbourhood staged a protest on Tuesday accusing their landlord of what they say are unjustified and "above-guideline" rent increases. The residents protested outside the Toronto offices of property management company Akelius Canada — a Sweden-based multinational corporation. Residents of Akelius-owned buildings 77 Spencer Avenue and 109 Indian Road say the company is looking to increase their rent by 5.5 per cent, which is more than d

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  • Bloomberg

    US Home Prices Climb as Tight Market Collides With Demand Uptick

    (Bloomberg) -- Home prices rose for a second straight month as buyers returning to the market competed over few homes for sale.Most Read from BloombergWinklevoss Twins Attempt Pivot After Gemini Loses Money and EmployeesPutin Orders Tighter Defenses After Drone Strikes on MoscowStock Rally Loses Steam After AI-Fueled Euphoria: Markets WrapMcCarthy Confident on Debt Vote Despite Hard-Line Ouster ThreatTaiwan Rushes to Prevent China From Cutting Internet, PhonesA measure of prices nationally incre

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  • CBC

    Once seen as an affordable option, housing in Surrey now increasingly out of reach

    Danielle Lafond says Surrey was the city she turned to for affordable housing over a decade ago. But now, she says she's had to give up her rental, get a roommate and is struggling to make ends meet as the price of housing skyrockets in the city. "Help us … I'm on disability. I can't afford $1,300 a month. I had to move somebody in with me just so I can afford to live." Her story is far from unique in Surrey, regarded as one of the fastest-growing cities in North America by population, according

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  • CBC

    Building space for stuff: Alberta sees self-storage investments as demand outpaces supply

    It's not your imagination: More self-storage facilities are popping up in Calgary and across Alberta. And there's a host of reasons behind it, but the underlying driver is demand. Because, well, people can't and don't want to get rid of their stuff. Store & Go, at 1216 10th Ave. S.W., is in the Beltline on the edge of Downtown's West End. It was an early office conversion that Strategic Group took on in 2017, transforming a cheque-cashing facility into something the community now uses a lot more

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