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Government Extends Ban on Foreigners Owning Canadian Homes for Two More Years: A Game-Changer for Housing Affordability

For years, we've witnessed the ebb and flow of foreign investment into the Canadian housing market. It's been a rollercoaster ride of soaring prices and heightened accessibility concerns, especially for hardworking Canadians striving to secure their piece of the Canadian dream. But fear not, my friends, for change is on the horizon! In a bold and forward-thinking move, the Canadian government has...

Controversial Development Project Approved in Vancouver: 13,000 New Homes to be Built on West Side of City

Today, we're going to talk about a controversial development project that Vancouver's city council has recently approved. The project involves building 13,000 new homes on a 36-hectare site on the west side of the city and has been criticized by some residents. The Jericho Lands Policy Statement, as approved by the council, sets the direction for the development of the land owned by a joint venture that...

Understanding the Mortgage Stress Test in Greater Vancouver

If you’re in the market for a new home, you may have heard about the stress test. But what exactly is it? And how will it affect your ability to buy a home? The stress test is a requirement for home buyers who are seeking an insured mortgage and have a down payment of less than 20 percent. Essentially, it means that you need to prove that you can afford a payment based on a certain minimum qualifying...

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