BC’s Fall Housing Market | 7 Things to Keep in Mind

General Angela Calla 26 Aug

We are excited to enter the next season with optimism in BC’s Fall Housing Market. However, we’d like to point out 7 things that people should continue to observe as the season changes over. 

1. A hot pre-sale market

Attractive to young buyers, British Columbia’s pre-sale market is hot and booming. This is perfect for young buyers who are still living at home and saving up for a down payment to own their own homes. We can expect the pre-sale market to continue to be hot and in demand.

2. Demand should continue to outpace supply 

Demand will continue to outpace supply. We know that it can take up to 3 years to complete a development and with rising costs we simply can’t build fast enough in order to keep up with our current market’s demand. This topic continues to be a major issue especially because our policies make it so difficult for developers to build faster.

3. Low interest rates will continue to fuel demand

Low interest rates will indeed continue to fuel demand as it is a great incentive. You may have heard talk about the possibility of inflation in the short term and it has definitely been higher than what we’ve seen in the last few decades. We would caution you for now especially with things just beginning to open up from the turmoil COVID-19 has caused us, health wise and economic wise. It may be too early to proceed with things as we go into another wave of COIVD-19. We have more information about this topic here which can really illustrate what’s happening right now. 

4. Competition from expatriates 

This is definitely a hot issue that will continue through to this fall and of course, is a vital topic in politics with elections warming up. How might each party respond to foreign investors who take advantage of our hot market? Will the Government ban foreign buyers from purchasing property? The impact this has on our real estate is vast and many houses are left without occupation. Many Canadians are looking to own their own home, if this trend continues the market will continue to inflate. We have each political plan here on our blog. 

The NDP: How They Plan to Tackle the Housing Crisis if Elected

The Liberals: How They Plan to Tackle Housing if Re-Elected

The Conservatives: How They Plan to Tackle the Housing Crisis if Elected

5. A new wave of renters and buyers could enter the market 

We have a new wave of renters and buyers that are entering the market. Those who are immigrating into the country and those who are of generational age are ready to rent and purchase homes this fall. We continue to welcome 400,000 immigrants per year with a total of 1.2 million people as a set goal by the Canadian Government. The increase in renters will encourage investors to continue to invest in our cities which will create a busier rental market over all.

6. Quality offers 

Quality offers will continue to prevail but the good news for new buyers is that their won’t be many offers to compete against. Canadians however will continue to increase their financial literacy and education which will help better their knowledge on planning and taking the proper steps towards their goals. Having clarity on the options around you will aid in the maintenance of quality offers.

7. Optimism should remain high

Optimism should remain high because it is a top priority among many Canadians because it stabilizes them financially and secures the future of their equity. Working with the correct professionals will ensure that you’re prepared for this fall housing market.


Angela Calla is a 17-year award-winning woman of influence which sets her apart from the rest. She is without a doubt, a true expert in her field. Alongside her team, Angela passionately assists mortgage holders in acquiring the best possible mortgage. Through her presence on “The Mortgage Show” and through her best-selling book “The Mortgage Code, Angela educates prospective home buyers by providing vital information on mortgages. 

In August of 2020, at the young age of 37, Angela surpassed $1 Billion dollars in funded personal mortgages. In light of this, her success awarded her with the 2020Business Leader of the Year Award.

Angela is a frequent go-to source for media and publishers across the country. For media interviews, speaking inquiries, or personal mortgage assistance, please contact Angela at hello@countoncalla.ca or at 604-802-3983.

Click  here to view the latest news on our blog. 

Team Banner housing market

Save for a Down Payment | 5 Tips

General Angela Calla 24 Aug

5 Tips to help you save for a down payment!

 

1. Eliminate high interest debt first

Any outstanding credit card bill or high interest rates can impact the time it takes for you to save for a down payment. In addition, every $480 spent on car payments might hold you back from securing the extra $100,000 loan which you might need while saving a down payment for a house.

2. Identify area where you spend too much

Take a look through all your bank statements! You might notice some automatic payments and payments for subscriptions you don’t use too much anymore. There are so many areas where our financial planners can help identify and action on these areas to help you save for a down payment.

3. Build a budget for your household

Over paying for a product could be something that is holding you back. We have had many clients who have been held back by dated life insurance policies and other programs which have cost significantly more than their dated counterparts. Our financial planning partners can help identify these areas and may be able to grant you savings.

4. Set up automatic transfers

Saving up for a down payment is tricky, but if you set up automatic transfers, you can forget about that money while making use your TFSA and RRSP programs. Whether if you are living at home, have children, or have high interest debt, automatic transfers can absolutely benefit your savings.

5. Utilize contributing to your TFSA and RRSP

These banking programs are highly important since they are tax free! Your hard earned money will not be taxed and it’s perfect since you can set automatic transfers directly to your TFSA and RRSP.

Whatever your position is at the moment, we are here to help and understand every step of your journey!


Click  here to view the latest news on our blog. 

Angela Calla is a 17-year award-winning woman of influence which sets her apart from the rest. She is without a doubt, a true expert in her field. Alongside her team, Angela passionately assists mortgage holders in acquiring the best possible mortgage. Through her presence on “The Mortgage Show” and through her best-selling book The Mortgage Code, Angela educates prospective home buyers by providing vital information on mortgages. 

In August of 2020, at the young age of 37, Angela surpassed $1 Billion dollars in funded personal mortgages. In light of this, her success awarded her with the 2020Business Leader of the Year Award.

Angela is a frequent go-to source for media and publishers across the country. For media interviews, speaking inquiries, or personal mortgage assistance, please contact Angela at hello@countoncalla.ca or at 604-802-3983.

5 Tips for Saving a Down Payment

Canadian Inflation Hits Highest Reading in Two Decades

General Angela Calla 24 Aug

Annual inflation hits 3.7% in Canada—a new election issue.

Canadian inflation hits highest reading in two decades. This morning’s Statistics Canada release showed that the July CPI surged to a 3.7% year-over-year pace, well above the 3.1% pace recorded in June. This is now the fourth consecutive month in which inflation is above the 1% to 3% target band of the Bank of Canada and has set Canadian inflation at an all time high. And given the flash election, opposition parties are already making hay. “The numbers released today make it clear that under Justin Trudeau, Canadians are experiencing a cost of living crisis,” Conservative leader Erin O’Toole said in a statement. He went on to suggest that the Liberal government is stoking inflation with its debt-financed government spending programs.

While it is true that deficit spending has surged during the pandemic, the same is also true for nearly every country in the world. Moreover, accelerating inflation is a global phenomenon and most central banks believe it to be temporary. Certainly, Tiff Macklem is firmly of that view, as is the Fed Chairman Jerome Powell.

Supply disruptions and base effects have largely caused the rise in inflation. Semiconductor production, for example, slumped during the 2020 lockdowns, and then couldn’t be ramped up fast enough when demand for cars and electronics returned, leading the prices of new and used autos to rise at a record pace. Prices for airfares and hotel stays also jumped. Companies found themselves short of workers as they reopened, leading some to offer bonuses or boost wages and subsequently raise prices for consumers.

Central bankers believe that the price pressures are transitory, representing temporary shocks associated with the reopening of the economy. Lumber prices, for example, spiked when demand for new homes returned and have since normalized (see the chart below). To be sure, above-target inflation has heightened uncertainty. The central banks do not want to choke off the economic recovery through misplaced inflation fears. Many Canadians remain out of work, and long-term unemployment is still very high. Moreover, the recent surge of the delta variant proves that the recovery is uncertain.

Bank of Canada Governor Tiff Macklem, whose latest forecasts show inflation creeping up to 3.9% in the third quarter before easing at the end of the year, has warned against overreacting to the “temporary” spike.

Shelter prices rising fastest

Prices rose faster year-over-year in six of the eight major components of Canadian inflation in July, with shelter prices contributing the most to the all-items increase. Conversely, prices for clothing and footwear and alcoholic beverages, tobacco products and recreational cannabis slowed on a year-over-year basis in July compared with June. Year over year, gasoline prices rose less in July (+30.9%) than in June (+32.0%). A base-year effect continued to impact the gasoline index, as prices in July 2020 increased 4.4% on a month-over-month basis when many businesses and services reopened.

In July 2021, gasoline prices increased 3.5% month over month, as oil production by OPEC+ (countries from the Organization of Petroleum Exporting Countries Plus) remained below pre-pandemic levels though global demand increased.

The homeowners’ replacement cost index, which is related to the price of new homes, continued trending upward, rising 13.8% year over year in July, the largest yearly increase since October 1987. Similarly, the other owned accommodation expenses index, which includes commission fees on the sale of real estate, was up 13.4% year over year in July.

Year-over-year price growth for goods rose at a faster pace in July (+5%) than in June (+4.5%), with durable goods (+5%) accelerating the most. The purchase of passenger vehicles index contributed the most to the increase, rising 5.5% year over year in July. The gain was partially attributable to the global shortage of semiconductor chips. Prices for upholstered furniture rose 13.4% year-over-year in July, largely due to lower supply and higher input costs.

Core measures

The average of core inflation readings, a better gauge of underlying price pressures, rose to 2.47% in July, the highest since 2009. Monthly, prices rose 0.6% versus a consensus estimate of 0.3%. Rising costs to own a home are one of the biggest contributors to the elevated Canadian inflation rate, following a surge in real estate prices over the past year.

Bottom line 

Today’s inflation data likely did little to alter the Bank of Canada’s view that above-target inflation will be a transitory phenomenon. They are already ahead of most central banks in tapering the stimulus coming from quantitative easing. They do not expec t to start increasing interest rates until the labour markets have returned to full employment, which they judge to occur in the second half of 2022. In the meantime, pent-up demand in Canada is huge as people tap into their involuntary savings during the lockdown to pay higher prices at restaurants, grocery stores and gas stations. Financial markets appear to be sanguine about the prospect for rate hikes, as bond yields have been trading in a very narrow range.

This article was published by Dr. Sherry Cooper, to read the article on her website click here


Angela Calla is a 17-year award-winning woman of influence which sets her apart from the rest. She is without a doubt, a true expert in her field. Alongside her team, Angela passionately assists mortgage holders in acquiring the best possible mortgage. Through her presence on “The Mortgage Show” and through her best-selling book “The Mortgage Code, Angela educates prospective home buyers by providing vital information on mortgages. 

In August of 2020, at the young age of 37, Angela surpassed $1 Billion dollars in funded personal mortgages. In light of this, her success awarded her with the 2020Business Leader of the Year Award.

Angela is a frequent go-to source for media and publishers across the country. For media interviews, speaking inquiries, or personal mortgage assistance, please contact Angela at hello@countoncalla.ca or at 604-802-3983.

Click  here to view the latest news on our blog. 

canadian inflation

The Slowdown In Canadian Housing Continued in July

General Angela Calla 23 Aug

Today the Canadian Real Estate Association (CREA) released statistics showing national existing home sales fell 3.5% nationally from June to July 2021–the fourth consecutive monthly decline. Over the same period, the number of newly listed properties dropped 8.8%, and the MLS Home Price Index rose 0.6% and was up 22.2% year-over-year.

While sales are now down a cumulative 28% from the March peak, Canadian housing markets are still historically quite active (see Chart below). In July, the decline in sales activity was not as widespread geographically as in prior months, although sales were down in roughly two-thirds of all local markets. Edmonton and Calgary led the slowdown, but these cities didn’t experience falling sales until recently. In Montreal, in contrast, where sales began to moderate at the start of the year, activity edged up in July.

The actual (not seasonally adjusted) number of transactions in July 2021 was down 15.2% on a year-over-year basis from the record for that month set last July. July 2021 sales nonetheless still marked the second-best month of July on record.

“While the moderation of sales activity continues to capture most of the headlines these days, it’s record-low inventories that should be our focus,” said Cliff Stevenson, Chair of CREA. Most markets are in sellers’ market territory.

New Listings

The number of newly listed homes dropped by 8.8% in July compared to June, with declines led by Canada’s largest cities – the GTA, Montreal, Vancouver and Calgary. Across the country, new supply was down in about three-quarters of all markets in July.

This was enough to noticeably tighten the sales-to-new listings ratio despite sales activity also slowing on the month. The national sales-to-new listings ratio was 74% in July 2021, up from 69.9% in June. The long-term average for the national sales-to-new listings ratio is 54.7%.

Based on a comparison of sales-to-new listings ratio with long-term averages, the tightening of market conditions in July tipped a small majority of local markets back into seller’s market territory, reversing the trend of more balanced markets seen in June.

Another piece of evidence that conditions may be starting to stabilize was the number of months of inventory. There were 2.3 months of inventory on a national basis at the end of July 2021, unchanged from June. This is extremely low – still indicative of a strong seller’s market at the national level and most local markets. The long-term average for this measure is twice where it stands today.

Home Prices

The Aggregate Composite MLS® Home Price Index (MLS® HPI) rose 0.6% month-over-month in July 2021, continuing the trend of decelerating month-over-month growth that began in March. That deceleration has yet to show up in any noticeable way on the East Coast, where property is relatively more affordable.

Additionally, a more recent point worth noting (and watching) just in the last month has seen prices for certain property types in certain Ontario markets look like they might be re-accelerating. This could be in line with a re-tightening of market conditions in some areas.

The non-seasonally adjusted Aggregate Composite MLS® HPI was up 22.2% on a year-over-year basis in July. While still a substantial gain, it was, as expected, down from the record 24.4% year-over-year increase in June. The reason the year-over-year comparison has started to fall is that we are now more than a year removed from when prices really took off last year, so last year’s price levels are now catching up with this year’s, even though prices are currently still rising from month to month.

Looking across the country, year-over-year price growth averages around 20% in B.C., though it is lower in Vancouver and higher in other parts of the province. Year-over-year price gains in the 10% range were recorded in Alberta and Saskatchewan, while gains are closer to 15% in Manitoba. Ontario sees an average year-over-year rate of price growth in the 30% range. However, as with B.C., gains are notably lower in the GTA and considerably higher in most other parts of the province. The opposite is true in Quebec, where Montreal is in the 25% range, and Quebec City is in the 15% range. Price growth is running a little above 30% in New Brunswick, while Newfoundland and Labrador is in the 10% range.

Bottom Line

Sales activity will continue to gradually cool over the next year, but it will take higher interest rates to soften the housing market in a meaningful way. Local housing markets are cooling off as prospective buyers contend with a dearth of houses for sale. Though increasing vaccination rates have begun to bring a return to normal life in Canada, that’s left the country to contend with one of the developed world’s most severe housing shortages and little prospect of much new supply becoming available soon.

This article was published on Dr. Sherry Cooper’s website, August 16, 2021. To view the article there, click here.


Angela Calla is a 17-year award-winning woman of influence which sets her apart from the rest. She is without a doubt, a true expert in her field. Alongside her team, Angela passionately assists mortgage holders in acquiring the best possible mortgage. Through her presence on “The Mortgage Show” and through her best-selling book “The Mortgage Code, Angela educates prospective home buyers by providing vital information on mortgages. 

In August of 2020, at the young age of 37, Angela surpassed $1 Billion dollars in funded personal mortgages. In light of this, her success awarded her with the 2020Business Leader of the Year Award.

Angela is a frequent go-to source for media and publishers across the country. For media interviews, speaking inquiries, or personal mortgage assistance, please contact Angela at hello@countoncalla.ca or at 604-802-3983.

Click  here to view the latest news on our blog. 

Team Banner housing market

 

The Liberals: How They Plan to Tackle Housing if Re-Elected

General Angela Calla 19 Aug

While the Liberals don’t have any new plans to tackle housing to date — the party’s latest platform promise includes $10 a day child care for families — the party’s ongoing platform features three housing components.

  1. As part of a new, ten-year investment of nearly $20 billion in social infrastructure, the Liberals say they will prioritize significant new investment in affordable housing and seniors facilities.
  2. The party says it will undertake a review of escalating home prices in high-priced markets — like Vancouver and Toronto — to determine whether speculation is driving up the cost of housing.
  3. The Liberals say they will increase the new residential rental property rebate on the GST to 100% — eliminating all GST on new capital investments in affordable rental housing.
    • This wll provide $125 million per year in tax incentives to increase and substantially renovate the supply of rental housing across Canada

However, as part of the Liberal’s 2021 federal budget, the party said $3.8 billion in new and re-assigned funding would be allocated for affordable housing, the Canada Housing Benefit, and other initiatives to build, convert, or repair 35,000 units across Canada. These funds will be distributed over the course of seven years.

What’s more, the budget shows $612 million will be dedicated to the homelessness strategy, including veterans, over two years.

The Liberals also announced a 1% national tax on non-resident, non-Canadian-owned residential real estate considered vacant or underused. This revenue stream is estimated to bring in $700 million over four years and would be levied annually beginning in 2022.

This article was written and published by Ainsley Smith, a writer from Storeys Publishing (2021). To read the full article click here


Angela Calla is a 17-year award-winning woman of influence which sets her apart from the rest. She is without a doubt, a true expert in her field. Alongside her team, Angela passionately assists mortgage holders in acquiring the best possible mortgage. Through her presence on “The Mortgage Show” and through her best-selling book “The Mortgage Code, Angela educates prospective home buyers by providing vital information on mortgages. 

In August of 2020, at the young age of 37, Angela surpassed $1 Billion dollars in funded personal mortgages. In light of this, her success awarded her with the 2020Business Leader of the Year Award.

Angela is a frequent go-to source for media and publishers across the country. For media interviews, speaking inquiries, or personal mortgage assistance, please contact Angela at hello@countoncalla.ca or at 604-802-3983.

Click  here to view the latest news on our blog. 

Team Banner housing market

 

The NDP: How They Plan to Tackle the Housing Crisis if Elected

General Angela Calla 19 Aug

Canada’s NDPs say they have a plan to target the housing crisis and make housing more affordable, and here’s how they promise to accomplish this if elected:

Go after big money investors by:

  • Singh and the NDP say they will go after big money investors by putting a 20% Foreign Buyer’s tax on the sale of homes to individuals who are not Canadian citizens or Permanent Residents.
  • The NDP says they would target money laundering and organized crime within the housing sector by making it harder to hide behind nameless companies and giving regulators more teeth.

Increase affordable housing supply by:

  • If elected, the NDP says it will increase housing supply by building 500,000 affordable homes in ten years;
    • The party promises to have the first half done within five years.
  • This will be achieved with the right mix of effective measures that work in partnership with provinces and municipalities, build capacity for social, community, and affordable housing providers, to provide rental support for co-ops, and meet environmental energy efficiency goals.
  • This ambitious plan will create thousands of jobs in communities all across the country, jump-starting the economic recovery, and helping Canadians get the affordable housing they need.

The NDP says it will also set up dedicated fast-start funds to streamline the application process for co-ops, social, and non-profit housing and help communities get the expertise and assistance they need to get projects off the ground. The party says it will mobilize federal resources and lands for these projects, turning unused and under-used properties into vibrant new communities.

Re-introduce 30-year terms to CMHC insured mortgages:

  • While making affordable rental housing more available is critical, the NDP believe that the dream of homeownership shouldn’t be forever out of reach for Canadian families. That’s why we will re-introduce 30-year terms to CMHC insured mortgages on entry-level homes for first time home buyers.
  • This will allow for smaller monthly payments, freeing up funds to help make ends meet for young families. The party will also give people a hand with closing costs by doubling the Home Buyer’s Tax Credit to $1,500.

For Canadians who are open to innovative paths to homeownership, the NDP says it will provide resources to facilitate co-housing, such as model co-ownership agreements and connections to local resources, and ease access to financing by offering CMHC-backed co-ownership mortgages.

This article was written and published by Ainsley Smith, a writer from Storeys Publishing (2021). To read the full article click here


Angela Calla is a 17-year award-winning woman of influence which sets her apart from the rest. She is without a doubt, a true expert in her field. Alongside her team, Angela passionately assists mortgage holders in acquiring the best possible mortgage. Through her presence on “The Mortgage Show” and through her best-selling book “The Mortgage Code, Angela educates prospective home buyers by providing vital information on mortgages. 

In August of 2020, at the young age of 37, Angela surpassed $1 Billion dollars in funded personal mortgages. In light of this, her success awarded her with the 2020Business Leader of the Year Award.

Angela is a frequent go-to source for media and publishers across the country. For media interviews, speaking inquiries, or personal mortgage assistance, please contact Angela at hello@countoncalla.ca or at 604-802-3983.

Click  here to view the latest news on our blog. 

Team Banner housing market

The Conservatives: How They Plan to Tackle the Housing Crisis if Elected

General Angela Calla 19 Aug

Conservatives propose a three-pronged strategy that targets the housing crisis which involves increasing housing supply, tackling money laundering and foreign investors, and making mortgages more affordable.

Increase supply by implementing a plan to build 1 million homes in the next three years by:

  • Leverage federal infrastructure investments to increase housing supply. We will:
    • Build public transit infrastructure that connects homes and jobs by bringing public transit to where people are buying homes; and
    • Require municipalities receiving federal funding for public transit to increase density near the funded transit;
  • Review the extensive real estate portfolio of the federal government – the largest property owner in the country with over 37,000 buildings – and release at least 15% for housing while improving the Federal Lands Initiative;
  • Incent developers to build the housing Canadians both want and need, by:
    • Encouraging Canadians to invest in rental housing by extending the ability to defer capital gains tax when selling a rental property and reinvesting in rental housing, something that is currently excluded; and
    • Exploring converting unneeded office space to housing.
  • Continue the Conservative commitment to Reconciliation with Canada’s Indigenous Peoples by enacting a “For Indigenous, By Indigenous” strategy – long called for by Indigenous housing advocates.
    • Canada’s Conservatives are committed to putting a stop to federal paternalism and instead partnering with Indigenous communities and empowering Indigenous Peoples with the autonomy to meet their own housing needs.
  • Enhance the viability of using Community Land Trusts for affordable housing by creating an incentive for corporations and private landowners to donate property to Land Trusts for the development of affordable housing.
    • The incentive will mirror that which exists for donating land to ecological reserves.

Root out the corrupt activities that drive up real estate prices and put homeownership out of reach by:

  • Implement comprehensive changes to the Proceeds of Crime (Money Laundering) and Terrorist Financing Act, and give FINTRAC, law enforcement, and prosecutors the tools necessary to identify, halt, and prosecute money-laundering in Canadian real estate markets.
  • Establish a federal Beneficial Ownership Registry for residential property.
  • Closely examine the findings and recommendations of the Commission of Inquiry into Money Laundering in British Columbia, which is doing important work, and quickly implement recommendations at the federal level.

To arrest and reverse the inflationary impacts of foreign buyers and speculation in the housing market, the Conservatives say they will ensure that housing in Canada is truly for Canadian citizens and residents first.

To achieve this, the Conservatives say they will:

  • Ban foreign investors not living in or moving to Canada from buying homes here for a two year period after which it will be reviewed.
  • Instead, encourage foreign investment in purpose-built rental housing that is affordable to Canadians.

To make mortgages more affordable, the Conservatives will:

  • Encourage a new market in seven- to ten-year mortgages to provide stability both for first-time home buyers and lenders, opening another secure path to homeownership for Canadians, and reducing the need for mortgage stress tests.
  • Remove the requirement to conduct a stress test when a homeowner renews a mortgage with another lender instead of only when staying with their current lender, as is the case today. This will increase competition and help homeowners access more affordable options.
  • Increase the limit on eligibility for mortgage insurance and index it to home price inflation, allowing those in high-priced real estate markets with less than a 20% down-payment an opportunity at home-ownership.
  • Fix the mortgage stress test to stop discriminating against small business owners, contractors, and other non permanent employees including casual workers.

Finally, the Conservatives say they will never tax Canadians’ capital gains on the sale of a principal residence.

This article was written and published by Ainsley Smith, a writer from Storeys Publishing (2021). To read the full article click here


Angela Calla is a 17-year award-winning woman of influence which sets her apart from the rest. She is without a doubt, a true expert in her field. Alongside her team, Angela passionately assists mortgage holders in acquiring the best possible mortgage. Through her presence on “The Mortgage Show” and through her best-selling book “The Mortgage Code, Angela educates prospective home buyers by providing vital information on mortgages. 

In August of 2020, at the young age of 37, Angela surpassed $1 Billion dollars in funded personal mortgages. In light of this, her success awarded her with the 2020Business Leader of the Year Award.

Angela is a frequent go-to source for media and publishers across the country. For media interviews, speaking inquiries, or personal mortgage assistance, please contact Angela at hello@countoncalla.ca or at 604-802-3983.

Click  here to view the latest news on our blog. 

Team Banner housing market