How US tariffs could shake up BC real estate
Posted on Feb 13, 2025
If there’s one thing that can send shockwaves through an already turbulent housing market, it’s a full-blown tariff war. And with recent US trade policies throwing yet another wrench into Canada’s economic machinery, BC’s real estate market is staring down a scenario that’s equal parts frustrating, unnecessary and entirely avoidable....
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Variable Mortgage Rates All the Rage
Posted on Jan 31, 2025
People are choosing Variables for these reasons:
- They expect the Bank of Canada isn’t done easing
- Floating rates are finally on par with fixed rates
- It’s therefore easier to qualify for variables, given how the government’s mortgage stress test calculation works
- Standard variable mortgages have prepayment penalties of just three months’ interest (fixed...
Reduce Time on your Digital Device
Posted on Jan 08, 2025
Most of us have boundaries in multiple areas of our lives: at work, with our colleagues and boss, and at home, with our partner, children and friends. But when it comes to our phones, most of us have a “porous boundary, and likely no boundary,” says Dr. Aditi Nerurkar, Harvard stress and burnout expert. That's why so many of us feel like we have a...
NEW: BC Home Flipping Tax
Posted on Jan 07, 2025
As of January 1, 2025, the BC Home Flipping Tax is now in effect. This new tax is distinct from the existing federal property flipping tax and specifically targets short-term property sales within British Columbia.Here’s how it works:
- The tax applies to income from sales of residential properties, presale contracts, or assignments owned for less tha...
General Real Estate Market Update
Posted on Dec 19, 2024
Market Trends and Activity:
- Sales in October and November showed year-over-year increases but remain below average, signaling gradual market recovery.
- Inventory remains elevated due to increased new listings and slower-than-average sales, though a seasonal decline is expected as the year ends.
- The Bank of Canada im...
New Home Flipping Tax
Posted on Dec 06, 2024 in taxes
Starting January 1, 2025, the new BC Home Flipping Tax will add another layer of tax consideration for British Columbians who sell residential property within a short timeframe. This tax will be in addition to the existing federal property flipping tax introduced by the Canada Revenue Agency in 2023. While there are similarities between the two tax...
