2 year foreign buyer ban in effect
Trudeau government bans foreign buyers temporarily The federal ban on new foreign ownership of residential real estate has become law on January 1, 2023. It bans anyone who isn't a Canadian Citizen or permanent resident from buying residential real estate for the next two years. As for any governmen
Further interest hike by the BoC for 2022
Are we on the right track? The Bank of Canada increased its target for the overnight rate to 4.25%. Another 50 basis points were added, hoping to curb the inflation further and get closer to the target inflation rate of 2%. The CPI (Consumer Price Index) currently sits at 6.9%, roughly 4.9% higher t
December Market Update 2022
The market continues to weaken Too many negative parameters continue to put pressure on housing prices in the Lower Mainland and the Fraser Valley. First the higher interest rates, then weaker demand, then continued low inventories and now the changes looming over the real estate market and coming i
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