November 2022

What It Means to Be House Poor – and How to Avoid It

Posted on Nov 07, 2022 in Home Ownership, Maintenance, & Repairs

empty house_house poor

You’ve got your mortgage pre-approval, and you’re shopping the market for your perfect home. If you find one that’s priced too close to your limit, you run the risk of being house poor. Let’s look at what it is, what you can do to avoid it, and what to do if you are already house poor.

The Costs of Owning a Home

When you begin the process of looking...

Read More

Is Low Supply Keeping Canadian Real Estate Prices High?

Posted on Nov 04, 2022 in Market Conditions

Canadian real estate street view

A year ago, housing affordability dominated national conversations as the Canadian real estate market exploded in growth, across major urban centres and rural communities alike.

For the last couple of months, it seems like this discussion has shifted, with affordability taking a back seat given recent moderation in the market following the unprecede...

Read More

The First-Time Home Buyer Incentive – 2022 Edition

Posted on Nov 02, 2022 in First-Time Buyers

First-Time Home Buyer Incentive

Housing prices are at record highs across Canada. These prices are hard on those looking for a new home, especially first-time home buyers. Buying your first home is stressful enough, but high prices, and rising interest rates, have first-time home buyers looking for help to make their mortgage payments more affordable. One option is the First-Time...

Read More

What the Bank of Canada’s Interest Rate Hikes Mean for Homeowners

Posted on Nov 01, 2022 in Market Conditions

What the Bank of Canada’s Interest Rate Hikes Mean for Homeowners

In 2022, the Bank of Canada (BoC) has been raising interest rates at the fastest and most significant pace since 1998. In July, the organization increased the benchmark rate to 2.5 per cent for the first time since 2009, when the global economy was coming out of the financial crisis. Here’s what the Bank of Canada’s interest rate hikes mean for hom...

Read More