April 2017

Is Affordable Home Ownership A Thing of The Past? Montreal's median prices for single family homes are $300,000 lower than they are in Toronto and $500,000 lower than they are in Vancouver.  The lackluster condo market of 2015 was replaced by steady growth in sales in 2016. "Montreal registered the lowest unemployment rate in 30 years in December 2016 with immigration rates skyrocketing. According to the Royal Bank of Canada, Vancouver and Toronto were ranked the first and second most unaffordable cities in Canada with Montreal ranked third. Now that both the Ontario and Vancouver real estate markets have imposed a 15%...

Every Day Is Earth Day - A Time For Celebration And Action Earth day should be every day!! Here in Montreal, this day is also referred to as Jour de la terre. John McConnell, an American newspaper publisher first proposed "Earth Day" at a UNESCO Conference on the Environment in 1969. , On March 21, 1970, the first Earth Day was observed, on the vernal equinox, the day on which night and day are of equal length around the world. The intention was for this day to serve as an annual reminder that all humans are stewards responsible for the condition of the planet....

Ontario Slaps 15% Tax On Foreign Buyers Ontario slaps a 15% tax on foreign buyers not long after Vancouver decided to impose the same tax measures to cool thier housing markets. On thursday the Ontario government announced 16 new measures to cool the housing market. The measures included a 15% tax on foreign buyers as well as rent controls. According to the Toronto Real Estate Board, prices were up 33% across the region from a year ago. The concern is that with prices escalating, young people can't even imagine ever owning their own home. All this being said, with Vancouver and now Ontario...

Montreal Home Sales Jumped by 11% in March Montreal home sales and the latest Centris Montreal Market Stats for March 2017 <img src="//b.scorecardresearch.com/p?c1=2&c2=6538986&cv=2.0&cj=1" alt="" /> As indicated in the table below, all of the province’s census metropolitan areas (CMAs) registered an increase in sales in March, with the exception of Trois-Rivières. The Gatineau CMA led the way with a 38% increase. As for the median price of single-family homes, it was up in all CMAs except Québec City, where it remained unchanged. For the province as a whole, the median price for single-family homes rose by 4% in March. ...

DESJARDINS MARKET FORCAST FOR QUEBEC Read the report below: On March 23, Desjardins published its forecasts for Québec’s resale housing market. According to their forecasts, the number of existing home sales is expected to grow by 2.3 per cent in 2017 to reach 80,000. Despite the latest mortgage tightening measures, Desjardins considers that the low unemployment rate and the increase in after-tax income will be able to counter the negative effects of these measures. Québec’s unemployment rate is at its lowest level in approximately 40 years and, in 2016, after-tax income saw its biggest increase since the 2008 recession. As for the average price...

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