Officials from the federal and provincial governments joined in at a sod turning ceremony today to officially launch the $14 million Columbian Place, a 75-unit apartment building to be constructed on 20th Street West, between Avenue N and Avenue O in Pleasant Hill. When completed, it will open 40 two-bedroom units and 35 one-bedroom homes. The [...]
Canada Mortgage and Housing Corporation (CMHC) released its flagship annual report on Thursday and while I have not yet had time to read it, I wanted to get it posted here in case you’d like to give it a go. This is not your typical CMHC report. Rather, it’s an extensive review of the “state [...]
Canadians from coast to coast saw a higher percentage of their income going towards housing costs in the second quarter of 2010, largely driven by an increase in house prices and mortgage interest rates when compared against the first quarter. This marks the fourth consecutive time that RBC’s “Housing Affordability Measure” rose. According to the [...]
MSN Money just did a feature on the ten most expensive resale housing markets in Canada. It uses average selling prices from across the country for the month of August, 2010. Saskatoon came in at number eight on that list. Meanwhile, Statistics Canada released some income figures from the tax returns of Canadians and Saskatoon, [...]
I had the opportunity to help a few clients purchase a home who had the interpretation they would not be able to enter the housing market for another year. These clients had solid credit, good job stability but they lacked one of the most common first time buyer requirements, a down payment. In these, like [...]
One Saskatoon city councillor is suggesting that the city should expropriate Westridge Village in Confederation Park after the 90-unit social housing complex flooded this week for the seventh time in the past ten years. The low lying area at the bottom of the westside neighbourhood would better serve the community as a storm retention pond [...]
Social Services Minister Donna Harpauer announced an expansion of the Lighthouse that will add 65 affordable housing units by December of 2011, essentially doubling the capacity of the supported living facility. The $11.5 million dollar addition will be funded with an investment from the federal and provincial Affordable Housing Trust. Once completed, the facility will [...]
Today marks the launch of Parkview Green, the first of a handful of affordable housing projects in the works as a result of the Pleasant Hill revitalization project. Located at 1505 and 1507 19th Street West the project is a joint venture between River Ridge Homes and Ehrenburg Homes. The project features twenty-four family oriented [...]
I’ve just read “Assessing Vulnerabilities in the Canadian Housing Market,” a five-page report written by CIBC economist Benjamin Tal and released on May 25. If you’re looking for some reassurances that the bottom isn’t about to fall out of the Canadian housing market, you may appreciate Tal’s assessment. Mr. Tal clearly feels that Canadian housing [...]
Housing affordability in Canada deteriorated for the third consecutive quarter and is likely to erode further over the next 12 to 18 months, despite changes in conditions which point to more balanced real estate markets, according to the RBC Housing Trends and Affordability study released today. Anticipated interest rate hikes are expected to increase the [...]
Strong home sales driven by consumer efforts to beat rising interest rates and the harmonized sales tax coming soon to Ontario and British Columbia will push the nation’s average home price to just under $350,000 before it peaks and starts to decline says a report released by TD Economics today. While sales should come close [...]
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