Canadians might see much higher borrowing rates in the not-so-distant future. Scotiabank chief economist Jean-François Perrault has forecast up to 8 rate hikes within 2 years. He sees elevated inflation backing the Bank of Canada (BoC) into a corner on the issue. Inflation appears to be a lot less transitory than thought. If that’s the case, the central bank will be forced to move, and address the highest inflation rate in decades.

Canadian Interest Rates Forecast To Rise 200 Basis Points

The bank’s economists are calling a very sharp climb for Canadian interest rates. They have forecast an increase of 100 basis points (bps) in the second half of 2022. It would be followed by another increase of 100 bps in 2023. An overnight rate of 2.25% would…

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When it comes to investment properties, there’s a lot to take into consideration. Aside from the financial and tax responsibilities, finding an investment property that makes sense for your situation requires some serious soul-searching. 

It’s best to take a look at some of the pros and cons before getting into the market, as each type comes with its own set. However, there are some pros and cons that apply to every type of investment property. One pro, of course, is you’ll have a second income—always a plus. The biggest con for any investment property is you’re not guaranteed to have tenants at all times, which means that second income may not be consistent. As the landlord you’re also on the hook for any repairs or issues that need to be dealt…

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The last 18 months have made for volatile market conditions, but according to the Canadian Real Estate Association (CREA), there has been more stabilization across the county.

Monthly snapshot

However, there is still lots of demand chasing a scarce amount of listings. As CREA’s Senior Economist and Director of Housing Data and Market Analysis Shaun Cathcart says in the latest housing market report, the market may remain challenging as we head into the twilight months of 2021.

As always, we will keep you posted on the pulse of the Canadian housing market. Check back next month to see October’s snapshot with the most up-to-date insights!

Remember, contact a REALTOR®  for detailed information about your neighbourhood and its price trends.

Courtesy:…

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OCTOBER 22, 2021

The whole world is undergoing a housing shortage, but vacant homes are barely budging. The OECD‘s latest data drop shows 42 million of its 426 million homes are vacant. Yes, roughly one in ten homes in advanced economies are empty. There are literally years of housing supply being used as an alternative to gold.

Rather than pondering why it’s so attractive to have vacant homes, many countries doubled down on reasons to hoard. If we only build more homes and give the investors cheap money, there can be enough to hoard too, right? I mean, you almost tried, so partial points. Let’s take a look at how bad the issue has become.

Canada Has Over 1.3 Million Vacant Homes, About 6 Years Of Supply

Canada has one of the highest…

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Canadian real estate and vaccine passports

Canadian real estate experienced a spike in interest and activity during the last 18 months, despite COVID-19 – or, as some might have it, due to it. The moratorium on travel, the rise in remote working and learning, lockdowns and general economic uncertainty have prompted many Canadians to set their sights on the Canadian housing market as a safe place to spend their time and invest their money. As with most social and many transactional activities, home hunting took a digital turn, with virtual tours and digital paperwork allowing for safe, “touchless” transactions. Now, as life slowly returns to some version of its formal self, you may have noticed “open house” signs popping up again, leaving many wondering about…

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There’s something about looking at images of a perfectly put together fridge or pantry that inspires you to do your own #fridgemakeover or reach #pantrygoals. It’s a popular trend on social media right now, but a well-organized kitchen isn’t just good for an Instagram post or TikTok video. Smart fridge and pantry organization can also help reduce food waste and inspire more home-cooked meals or snacks. If you have an appetite for organization, we’re sharing fridge and pantry hacks you can use in your own kitchen today.

Image via Pretty Little Designs

Consolidate, decant, and label 

The first thing to do is check what you have, toss out expired items, donate other unwanted items to a food bank (if accepted), and see what you have left. Once you know…

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Condo suites with dens can command a higher price-point than those without… But if you’ve been keeping up with how to do your den right, you already knew that.

This is according to Baker Real Estate Incorporated’s Baker Insights Group (B.I.G.), and — despite the last year (plus) intensifying the truth of it — such has actually been the case for several years now.

“The biggest difference between the unit mix in 2020 versus 2018 and 2019 is the share of suites with one bedroom plus den, which rose from 10% in 2018 and 13% in 2019 to 23% last year,” reads the insight group’s recent market report.

What’s more, dens are shown to add value to a condo, even when they don’t actually provide extra floor space.

“Baker recognized that buyers…

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Congratulations! You’re moving into your first place and it’s time to start loading up on essentials. Figuring out the essentials for every room can be a bit overwhelming, so it’s best to take things one room at a time. The kitchen is a great place to start, since you’ll need to be nourished as you get settled in your new place.

From brûlée torches to dish drying racks, what exactly is considered “essential” in the kitchen? With hundreds of gadgets, tools, and appliances on the market it can be hard to make those decisions. Things like dishes and drinkware are the obvious choices, but there are plenty of others you’ll want to have on hand. 

Whether you’re a student moving into residence, or a young adult moving into your first apartment, this…

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Image via RE/MAX Ontario-Atlantic Canada Inc.

Real estate deals should continue through the fall and prices should increase an average five per cent across the country, according to a market survey by RE/MAX.

“As our brokers and agents predict, the fall market activity is expected to remain steady, which is promising, despite the ongoing challenges presented by the Delta variant,” says Christopher Alexander, senior vice -president, RE/MAX Canada. 

Single-detached homes experienced the biggest price gains when comparing 2021* to 2020 data, rising between 6.8 and 27.3 per cent across 26 markets surveyed in the report. RE/MAX brokers and agents expect this trend to continue into the fall, driven by strong demand by young families.

“This is…

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Don’t Tackle Selling Your Home on Your Own – an Agent Can Help

 If you’re looking to maximize your sale and minimize your effort, you need to work with a real estate professional. In a sellers’ market like today’s, it can be tempting to list your house on your own – known as For Sale By Owner (FSBO). But the truth is, a real estate professional can save you time and money by managing every step of the process, from pricing your home to reviewing documents and handling negotiations.

Before you decide to sell your house on your own, here are five reasons why working with an agent is your best bet to maximize the sale of your home.

1. First impressions are everything – and an agent knows how to make a great one.

Prepping a house for sale requires a significant amount of time and effort, even though…

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