604homesblog

Amongst all the news off increased listings and (slightly) decreased sales came the news earlier this week that housing starts are up so far this year in Vancouver. On Monday the Canada Mortgage and Housing Corporation (CMHC) announced that "preliminary" numbers indicate the starts up up 10% over the same period last year. Single family ...

The Bank of Canada cut it's overnight rate by 50 basis points,or 1/2 a percent, to 3% this morning. The major bank will most likey respond with a cut in their mortgage rates. The rationale for the cut was that:Growth in the global economy has weakened, reflecting the effects of a sharp slowdown in the U.S. economy and ongoing dislocations ...

RBC reported today that they: We look for the Bank of Canada to slash the overnight rate by 50 bps to 3% and expect the statement will reinforce policymakers’ concerns about Canada’s economic prospects given the sustained volatility in financial markets, rising cost of capital and growing downside risks to the US economy.   ...

Not Chandler again! Didn't we have enough about him last year. He too has run out of money and his H & H and Garden City projects are too be completed by someone else. CBC broke the news just after midnight last night on their website. Take a look. I have to run right now, but I wanted to get the news out there. Hat tip to Victoria ...

Or rather, it stops hitting walls. CBC reported the other day that Bill Eden's Eden Developments had stopped construction of its only active development, the Sophia. In a situation eerily similar to the Riverbend development that cancelled the contracts of pre-sale buyers earlier this year The Sophia, located in Mount Pleasant, was ...

The Bank of Canada (BOC) cut their overnight by 25 basis point and the U.S. Federal Reserve cut it's overnight rate by 75 basis points. The BOC says they were prompted to do this as “further stimulus is likely to be required in the near term to keep aggregate supply and demand in balance and return inflation to the target over the ...

British Columbians started getting their property assessments over the last couple of days and most home owners in Metro Vancouver were pleasantly surprised by a significant jump in their home's value. Well maybe not, most home owners are not thinking of selling their homes this year and so higher assessments will only mean one thing to them, ...

I am bit late reporting on this one. Just like I am kind of late getting some of my Christmas shopping done. As you may have seen in the paper Royal LePage released their predictions for the Canadian real estate market in 2008. They, or is that we, are not overly bullish on the market nationally, but n Vancouver I expect a bit more than the ...

The September 2007 statistics from the Real Estate Board are out and the news is still all good. Sales are up year over year compared to last September and price continue upwards. Brian Napthali, President of the Real Estate Board of Greater Vancouver, had this to say in the press release: “There is no single demographic of buyers. They ...