Amendments to the Strata Property Act Concerning Rentals Announcement

General Angela Calla 11 Jan

Re: Amendments to the Strata Property Act Concerning Rentals Announcement     January 11, 2010     There has been a shortage of rental units for years in British Columbia. In order to address this, the Provincial Government recently passed legislation dealing with the rental provisions of the Strata Property Act (“SPA”).   Under the old section […]

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Real estate market expected to remain strong in first half of 2010

General Angela Calla 8 Jan

  David Paddon, THE CANADIAN PRESSTORONTO – Canada’s residential real estate market is expected to remain unusually strong through the first half of this year after a strong finish to 2009, according to a survey published Thursday by Royal LePage. The Royal LePage analysis is consistent with other recent reports on the state of the […]

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Bond Market Waiting for Jobs Reports

General Angela Calla 7 Jan

  Traders are treading cautiously ahead of Friday’s big U.S. and Canadian jobs reports. Bond yields are hovering just under their 15-month high. Most lenders are holding off on further mortgage rate increases ahead of the report.  Interestingly, only a few lenders chose to raise mortgage rates following December’s big spike in yields. (Why spoil […]

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Common Financial Terms

General Angela Calla 5 Jan

There are many financial terms that are commonly used in daily discussions, however it may be difficult to define some of them if asked. Here are a few simple definitions to assist you with the daily Financial Update Basis PointOne-hundredth of a percentage point. For example, the difference between 5.25% and 5.50% is 25 basis […]

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Update on HST and Real Estate: How It Works

General Angela Calla 24 Dec

HST and Real Estate: How It Works By Clark Wilson LLP’s Commercial Real Estate Group November 24, 2009 While the BC government is getting out of the sales tax business, the province’s residential real estate developers will have more taxes to cope with than ever before. Chronology On July 23, 2009, the BC government announced […]

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Flaherty urges Canadians to get finances in order before rates go up

General Angela Calla 22 Dec

Ottawa consders tighter mortgage rules Flaherty and Carney getting nervous Last Updated: Monday, December 21, 2009 | 10:17 PM ET Comments360Recommend111 CBC News Ottawa is considering new measures to tighten mortgage standards and prevent would-be homebuyers from taking on more debt than they can afford. Finance Minister Jim Flaherty said in an interview with CTV he’s […]

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Canada Housing Resales Climbed to Record in November

General Angela Calla 16 Dec

Canada Housing Resales Climbed to Record in November By Alexandre Deslongchamps Bloomereng Dec. 15 (Bloomberg) — Canadian home resales rose to a record 46,450 units in November, as the housing market helped to pull the economy out of recession, a realtor group said. Seasonally adjusted sales in November climbed 67 percent from a year earlier, […]

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