Speculation ended this morning as Canadian finance minister Jim Flaherty announced the details on new changes to the country’s mortgage rules, some which will take effect as early as March 18. In a move expected to remove 20,000 of the most marginal prospective buyers from the housing market this year, the maximum amortization period for [...]
The Canadian Real Estate Association (CREA) issued a “call to action” this week to more than 100,000 members urging them to write their Member of Parliament (MP) to “explain the negative impact additional mortgage financing rule changes would have on home buyers, home owners and the economy.” In the included form letter that CREA is [...]
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 [...]
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, [...]
According to the Canadian Centre for Policy Alternatives (CCPA), Canada is experiencing a housing bubble that is destined to pop. In a recently released report, the non-profit research group examines house price growth in six Canadian markets and puts forward a few scenarios of how prices might be affected when the bubble bursts. Canadians are [...]
Apparently, we have it pretty good in Saskatoon, at least compared to most. Housing starts are rocking the charts once again and you can’t go anywhere in this town without running into some massive non-residential construction project. They’re everywhere. According to the City of Saskatoon’s most recent population estimate, roughly 223,200 people were calling Saskatoon [...]
A Class-A office vacancy rate of less than 1 percent is driving developers to continue expanding the inventory in downtown Saskatoon. Discovery Plaza is Saskatoon’s latest Class-A project. Completed in 2009 it brought more than 50,000 square feet to the market, all of which was quickly scooped up by BHP Billiton. The redevelopment of the [...]
The City of Saskatoon released its 2010 Preliminary Operating Budget today titled, “Investing in Today, Preparing for Tomorrow.” According to the city’s website, “This theme speaks to the need of helping people live a good quality of life, where local services are delivered effectively and at a reasonable cost. It also speaks to the need [...]
For the first time since he initially acknowledged concern over a potential bubble in Canadian housing markets, Finance Minister Jim Flaherty has openly indicated in an interview for CTV’s Question Period that higher down payments and shorter amortization periods are both on the table “if” there is further evidence of a bubble. “If we see [...]
TD Bank Financial Group released a “Resale Housing Outlook” yesterday that provides some insights into the potential consequences of the quick recovery that the Canadian housing market experienced over the past year. It’s a pretty interesting, “where we’ve been, where we may be headed” report. Some of the ideas that caught my attention from the [...]
Media Release Release: Immediate Date: Friday October 30, 2009 Contact: Mike Lobsinger, Chief Executive Officer Lake Placid Group of Companies (Saskatoon, SK, Canada): Michael E. Lobsinger, Chief Executive Officer of the Lake Placid Group of Companies, announced today that Lake Placid is in a situation where delays have arisen around the deadline with the City [...]
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