Stan and Cheryl want to retire early, sell their Vancouver house if they have to and move to their cottage to be closer to their children. The cottage, which is in another province, needs about $350,000 worth of renovations. In doing so, they’ll be giving up about $24,000 a year in net rental income from
The British Columbia government is in the midst of a wide-ranging overhaul of how the housing market is regulated and taxed, amid growing concerns that foreign ownership, rampant speculation and unscrupulous real estate agents are fuelling an affordability crisis. On Aug. 2, a 15-per-cent tax took effect for home purchases in the Metro Vancouver area involving
When one of the real estate industry’s largest lobby groups, Mortgage Professionals Canada, released a report last month analyzing the state of the country’s housing market, it found, to absolutely no one’s surprise, zero evidence of a bubble that would warrant political intervention. “Now that the energy sector is no longer a major economic driver,
