When it comes to owning a home versus renting, you can’t just compare the amount of rent you would pay to the amount of a mortgage payment
Should I buy a home or rent? It’s a common question but the answer isn’t as simple you may think – it totally depends on your situation, since there are advantages and disadvantages to both. It’s usually better to own an asset that’s likely to go up in value than to rent an asset that’s…
Is the affordability crisis – and the lack of government intervention – a metaphor for something much worse?
I want to describe Vancouver’s awful housing market as a metaphor for something else. I’ll reveal the ‘something else’ later in the column. For now, let’s just stick with Vancouver, the city I grew up in. When I was a little boy, our Dunbar neighbourhood had a broad cross-section of residents. Our family’s cleaning lady…
The next two years will probably bring feeble increases in GDP, in line with 2019’s uninspiring performance. Job creation is likely to decelerate
As the clock winds down on 2019, it’s time to ponder what the coming year may have in store for the Canadian economy. To provide some context, 2019 hasn’t been a great year for the economy, with inflation-adjusted gross domestic product (GDP) expanding by around 1.6 per cent. This was less than growth in both…
It depends. As with all financial planning questions, no one answer fits every situation
“Did I need to take the insurance the bank sold me when I got my mortgage? Do I need mortgage insurance at all?” C.P. wrote and asked. I’m often asked this and the answer is usually the same: That depends. As with all financial planning questions, no one answer fits every situation. The simple answer in…
ATCO Village, a Homes for Heroes initiative, features 15 tiny homes, a resource centre, counsellor’s office, family suite and community gardens
The first Homes For Heroes village, a housing initiative for homeless Canadian Forces veterans, has launched in Calgary. ATCO Village, in southeast Calgary, features 15 tiny homes, a resource centre, counsellor’s office, family suite and community gardens. Officials say a tiny home provides veterans with privacy, a sense of security, peer-to-peer support and the ability…
RBC report shows the proportion of pre-tax household income that would be required to buy a home across the country
A new report by RBC Economics shows that Calgary and Edmonton are the most affordable housing markets of major centres in the country. The bank’s Housing Trends and Affordability report indicates that the two Alberta cities have the lowest percentage share of income a household would need to cover homeownership costs. The RBC Housing Affordability…
Robert McLister, managing editor of Rates.ca, talks about the pitfalls of the government program and why fewer Canadians are likely to take part than anticipated
Robert McLister is managing editor at Rates.ca. What is Rates.ca? McLister: Rates.ca compares insurance, mortgages and credit cards from dozens of companies across Canada. By juxtaposing numerous providers, it's easier for consumers to quickly compare terms and find the best prices. How does the new down payment assistance program for first-time homebuyers work? McLister: The…
Vacancy rates below 10-year average, rents on the rise: CBRE
Canada’s multifamily housing market is the most robust it has ever been, , according to CBRE’s new Canadian Multifamily Mid-Year Update. Apartment buildings are practically full from coast to coast and rental rates are at or near 10-year highs in almost every market, according to CBRE. The commercial real estate firm’s report said the national…
Ryan Mracek of Keylo wants the online realtor referral service to be the place consumers go to get unbiased, data-based real estate advice
Ryan Mracek is owner of Keylo. What is Keylo and what does it do? Mracek: Keylo is Canada’s largest realtor referral service. We use an evidence-based approach to find the best realtor to buy or sell your home for free. We put the odds of success in your favour in an industry notorious for holding…
Andie Daggett of Urban Analytics provides a precise snapshot of Calgary's rental market vacancies and rates, and offers a market forecast
Andie Daggett is manager of rental market data (Alberta) for Urban Analytics. What is Urban Analytics and what do you do? Daggett: Urban Analytics is a real estate based market research and advisory firm. We track all of the new multi-family home and purpose-built rental projects in Vancouver, Calgary and Edmonton. Half of our business…