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A simple plan to make housing affordable in Canada
By Rohana Rezel Here’s a simple three-point plan to make housing affordable in Canada: One SIN one home Penalize Airbnb and other short-term rental platforms for illegal units Fund massive build out of non-market rentals 1. One SIN one home (OSOH) Every home purchase must be linked to a Social Insurance Number (SIN). And one […]
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Metro Vancouver detached prices reach another all-time high in August
Metro Vancouver detached home prices have hit another all-time high in August 2021 breaking the previous record set just a month earlier. The OpenHousing Home Price Index for detached properties – calculated using the generally-accepted and transparent repeat sales or Case-Shiller method – rose 9.32% year-over-year, the August month-end update shows. This represents an increase […]
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Metro Vancouver detached market sees a shift as buyers drop out faster than sellers
Metro Vancouver single family detached home market appears to be heading towards a balanced market as the number of sales decreases faster than the number of listings. The sales to new listings (SNL) ratio for detached currently stands at 39, indicating a buyer’s market. But the shift in market sentiment still does not appear to […]
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Abbotsford Mayor sells property held through corporation after value shoots up 9-fold in one year
The Mayor of Abbotsford has sold a property in the city he held through a corporation after the assessed value of the property shot up nine-fold in a year due to a change of property use classification. HGE Investments Ltd. sold the property at 3044 Pratt Street on Jan 28, 2021 for $1.9 million after […]
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Metro Vancouver detached prices retreat from record highs
Metro Vancouver single family detached home prices retreated from record highs in June 2021, after seven months of continuous growth. The OpenHousing Home Price Index for detached properties – calculated using the generally-accepted and transparent repeat sales or Case-Shiller method – rose 10.41% year-over-year, the June month-end update shows. This represents a decrease of 1.80% […]
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Metro Vancouver detached prices to come off record highs
Metro Vancouver single family detached home prices are projected to come off all time highs in June 2021, after seven months of continuous growth. The OpenHousing Home Price Index for detached properties – calculated using the generally-accepted and transparent repeat sales or Case-Shiller method – is still expected to rise 11.05% year-over-year, the June mid-month […]
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Tribunal upholds $14,500 award for tenant wrongfully evicted to make way for Airbnb
The Supreme Court of British Columbia has dismissed a judicial review of a Residential Tenancy Branch (RTB) decision to award $14,500 to a tenant wrongfully evicted by the landlords who went onto list the rental unit on Airbnb. The landlords Robert Blouin and Leslie Ng had contested the decision by June 2020 decision by the […]
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Vancouver mansion linked to Bridging Finance self-dealing scandal flips for massive loss
A Vancouver mansion linked to the troubled Toronto-based private lender Bridging Finance Inc has been flipped for $800,000 less than what the seller paid for it six months ago. Property records show that the numbered company 1283942 B.C. LTD bought 1716 Drummond Drive in Vancouver’s tony Point Grey neighbourhood for $12.3 million in December 2020. […]
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Flipper makes $450K flipping Vancouver home through numbered company during pandemic
A flipper has made $450,000 dollars flipping a heritage home in East Vancouver’s Collingwood neighbourhood using a numbered company. 1298773 BC Ltd bought the 1914-built home at 2447 East 41st Avenue for $1,050,000 in April 2021, according to public records. Three days later, the numbered company listed the property for $1,499,000. The property sold on […]
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Metro Vancouver detached prices reach new all-time high in May
Metro Vancouver detached prices rallied in May 2021 to reach a new all-time high breaking the record set just a month earlier. The OpenHousing Home Price Index for detached properties – calculated using the generally-accepted and transparent repeat sales or Case-Shiller method – rose 15.40% year-over-year, the May preliminary month-end update shows. This represents an […]
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