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I have been saying this for a couple of months and got the stink eye from a few people...believe me now? My prediction was based on false price inflation due to panic buying vs employment & income to match the prices. RBC stands by its pessimistic home price predictions - Dec 9, 2020 Royal Bank of Canada has reiterated its forecast of an 8% decline in home prices, and warned of a depression that is likely to last well into 2023.... RBC’s most pessimistic estimates pegged the Canadian unemployment rate at above 9% until March 2023, and price growth muted up to late 2023. See more

Looking ahead Because of the enormous cost of carrying the Canadian populace through the first eight months of COVID-19, the federal government will inevitably need to find ways to foot the bill. It is possible some Canadians may eventually be asked to pay a wealth tax, an increased HST, or significantly higher capital gains taxes. It’s not so much about how disruptive [COVID-19 has] been as of right this moment. It’s more a matter of what it’s going to do going forward.

Not an easy conversation to have...but a MUST. Clarissa A. Rix, Licensed Life Insurance Broker

JUST RELEASED / MAINTENANT DISPONIBLE La version française suit le texte anglais. FOR IMMEDIATE RELEASE... Bank of Canada will maintain current level of policy rate until inflation objective is achieved, recalibrates its quantitative easing program The Bank of Canada today maintained its target for the overnight rate at the effective lower bound of percent, with the Bank Rate at percent and the deposit rate at percent.

The highest residential property taxes this year can be found in Halifax, where they are $11.96 per $1,000 of assessment, Winnipeg ($11.94), and Ottawa ($10.85). They are lowest in Vancouver ($2.92), Toronto ($5.99) and Calgary ($7.52). So does Halifax pay the most in order to go boating 7 months of the year?

Home Stats Ontario and East Coast Saying things have been busy for our industry, this year, is an understatement. Some reasons are said to be; taking advantage of low rates, relocating due to the pandemic, and the most common human instinct, fear of missing out (FOMO). Here are the recent numbers for our shared areas. Of course the caution is that the opposite may also develop by Spring of next year. Economists are calling this a "bubble". Enjoy the highs and plan for the lo...ws. Ontario Sales in Ontario were 41.9 percent higher in September than they were a year before. It was the first time sales for the month surpassed 25,000. Year-to-date, however, sales in the province were only up 2.7 percent compared to the same period in 2019. The average resale selling price in Ontario was $741,395 in September, a 19.7 percent annual increase. But there were several regions where the average price spiked by far more than the provincial average: Northeastern Ontario (the Kawarthas, Barrie, Muskoka), where it rose by 32.8 percent; Eastern Ontario (Kingston, Ottawa, Cornwall), where it increased by 28.5 percent; and Western Ontario (Windsor, Chatham-Kent, London), where it grew by 26.6 percent. Atlantic Canada Every province east of Quebec set new sales records in September. Moncton, where sales jumped just under 40 percent year-over-year, came out ahead of New Brunswick’s other major markets. The composite benchmark price for Moncton rose 13.7 percent in September, hitting $220,500 by month’s end. In Fredericton, where sales surged 34.4 percent, the average price of homes sold was $210,015, 22.6 percent higher than a year before. Sales increased by 27.1 percent in Saint John, helping push the average sale price to a record $205,247. Much like other parts of New Brunswick, Saint John’s usually busy fall market is experiencing significantly increased demand, said Corey Breau, president of the Saint John Real Estate Board. When you combine that with the lowest inventory numbers that we have seen in over a decade, it creates sustained upward pressure on prices. In Nova Scotia, after the market posted a 38 percent yearly increase in sales during the month, the provincial average sale price climbed to a record $303,599, the first time in history it broke $300,000. Of the eight regions governed by the Nova Scotia Association of Realtors, five experienced year-over-year sales growth of 38 percent or more, with sales in Yarmouth increasing by an absurd 153.8 percent. In Prince Edward Island, sales rose by 24.5 percent, while in Newfoundland they increased by 39.5 percent. The average price in PEI swelled by 17.2 percent to hit $274,619. In Newfoundland, it climbed a more modest 7.7 percent to reach $256,663.