Canadian Real Estate News Headlines (June 28th 2019)
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I provide you with Canada’s news headlines for real estate news for today.
Canadian Banks Are Trying To Stimulate Borrowing By Dropping Rates, Down 23 BPS
Canadians swimming in debt can rejoice – they’re getting the benefits of a cut without the rate cut. Bank of Canada (BoC) numbers show the effective household borrowing rate dropped to a multi-month low the week of June 14. The typical household is still paying more than last year, but rates are down 23 bps since the March peak.
Who Prioritizes Avocado Toast, Craft Beer, and Travelling Above Home Ownership? Millennials. It’s All about Lifestyle for This Generation
The Real Estate Intelligence Network (REIN) is publishing for the first time The Millennial Report, which explores this massive demographic cohort and its impact on rental and housing markets in Canada. This report delves into the socio-cultural processes that have influenced this generation’s unique outlook on life, and how this cohort’s focus on lifestyle, including avocado toast, impacts real estate. Given their potential purchasing power as a demographic, millennials are key to understanding current and future rental and housing market trends. This report lays out tips so that investors, landlords, homeowners renting a suite, and Realtors® can meet the unique desires of this influential but beleaguered generation.
How government policies are impacting B.C.’s real estate market for better or worse
The speculation tax, foreign buyers’ tax and school tax are just some of the factors cooling this region's real estate market. In part two of our real estate reality check, Sarah MacDonald looks at the drop in demand and the impact it has had on property transfer tax revenue to the province.
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