housing

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Here’s how the recession could affect your work, housing and expenses

Looking ahead to 2023, many economists say a mild recession is in the cards. Although many Canadians can remember living through a recession or two, for millions more this will be the first major downturn of their adulthood. Some are in their 20s and may be considering buying a home or already own a home. …

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Empty nesters demanded to save their bedrooms because of a critical shortage of housing in a tropical paradise

A major campaign has been launched to find beds for tourism workers, as the crippling housing shortage combined with the return of international tourists threatens to derail the industry. Key points: Locals in Port Douglas are asked to offer tourism workers a spare room The tropical tourist city has a vacancy rate of 0.4 percent …

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Vancouver’s Gen Z buyers do not sell on downtown housing: the report

Nearly half of Vancouver’s Generation Z population says they plan to buy their first home outside the big city – and affordability is just one of the reasons, according to a new report. On Wednesday, Sotheby’s International Real Estate and the Mustel Group released data from their latest survey of the aspirations and intentions of …

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The Canadian housing boom will stop next year due to higher mortgage rates – a Reuters survey

Author: Shrutee Sarkar BENGALURU (Reuters) – Real estate price inflation in Canada will slow to 10% this year as the Bank of Canada aggressively raises interest rates, a Reuters survey of real estate experts found. Although prices will fall slightly in 2023, this will not be enough to improve availability due to rising mortgage costs, …

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