Real Estate Blog

New calculation model could help renters, says Thomas Davidoff of UBC Sauder School of Business

UBC professor proposes innovative property tax system to help housing affordability

A radical, innovative property tax model to improve housing affordability for renters has been proposed by a UBC associate professor.

In new research in the Canadian Tax Journal, UBC Sauder School of Business associate professor Thomas Davidoff suggests a new method for increasing homeowners’ annual property taxes that would result in lower income and sales taxes for all residents.

In a Q&A on the research, published by the UBC website, Davidoff says, “We’ve got a really out-of-balance tax system here — it’s a great place to buy real estate but not a great place to make a living, in terms of tax policy.”

Davidoff suggests that property taxes be…
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Vancouver home being sold at auction to 'Chinese real estate investors'

 

A “mid-century modern Vancouver estate” is being auctioned off to target wealthy “Chinese real estate investors.”

Sitting on an 11,638 sq.ft. lot, the home — designed by renowned Vancouver architect Kenneth McKinley — will be sold to the highest bidder through luxury auction firm Concierge Auctions on its online marketplace.

6137 Collingwood Place/ Concierge Auctions

Bidding will be open online for worldwide buyers on December 14 and will close at a live auction in Hong Kong on December 19, in order to “target Chinese real estate investors,” said Concierge Auctions in a release.

The 2900 sq. ft. single-family home, located at 6137 Collingwood Place, is nestled in a cul-de-sac on Vancouver’s West Side.

The home has four

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Anti-renoviction motion could have unintended effects, landlords warn

A group representing landlords in Vancouver is warning that a newly approved motion intended to protect tenants from renoviction could do more harm than good.

Council voted unanimously Tuesday in favour of key parts of a motion tabled by COPE Coun. Jean Swanson to stop landlords from evicting tenants so they can demolish, renovate or sell their property.

"Tenants won the right to come back after a renovation," said Wendy Pedersen of the Vancouver Tenants Union. "They're not going to get evicted."

But Landlord BC said it could also mean those with genuine intentions of renovating or upgrading their properties might scrap those plans altogether.

"The reinvestment in this existing building is just not going to happen," CEO David Hutniak told

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Landlords the winners as Metro Vancouver housing sales slump

With a near free-fall in Metro Vancouver, British Columbia housing sales will plunge 23 per cent this year, according to the BC Real Estate Association (BCREA), and the projected 2019 recovery will be led by centres outside of the Lower Mainland, particularly in the Kamloops region and the north.

In Metro Vancouver, the real winners in 2019 will be existing residential landlords who can expect high demand, less competition and low vacancy rates, based on Western Investor's analysis for its annual residential investment outlook. 

Metro Vancouver 

Despite a 35 per cent plunge in Lower Mainland housing sales this year, home prices remain the highest in Canada while rising mortgage rates will also help to keep buyers sidelined. As of October

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Canadians are obsessed with housing affordability — so why isn't Ottawa talking about it?

While the federal Liberals unveiled a national housing strategy last year, it's mainly focused on tackling homelessness and housing low-income Canadians

Housing may be the topic you’re most likely to hear discussed at the local coffeeshop or see on the neighbourhood Facebook page, but it’s not dominating question period.

It may seem like a slam dunk political issue for either the government to solve or the Opposition to make some hay out of, but housing affordability is a multi-jurisdictional issue that doesn’t lend itself to easy answers. And, when those answers do come, they often take months or even years to have a tangible effect, while Canadians wait anxiously.

New Democratic Party Leader Jagmeet Singh is the only federal politician

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B.C. budget surplus projected to grow despite real estate, ICBC dips

The B.C. government’s budget surplus is projected to reach $1.35 billion by the end of the fiscal year in March 2019, Finance Minister Carole James says.

Presenting the province’s second quarter financial report Monday, James said B.C. continues to benefit from higher than forecast personal and corporate income tax revenue, with strong employment and 2.4 per cent growth in the economy, the highest in Canada.

The continued surplus comes in spite of an expected $150 million drop in property transfer tax revenue, and an additional $206 million decrease in net revenue from the Insurance Corp. of B.C. Forest fire and flood costs were up $160 million above last February’s budget forecast.

Growth projections are helped by the signing of a new

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It’s the topic you can’t avoid at social gatherings, especially if you live in one of Canada’s bigger cities: real estate. Either you’re wondering how to climb the property ladder or you’re daydreaming about cashing in.

The Globe and Mail can give you an edge in making smart real-estate decisions. Our insight can help you strike a great mortgage deal or spot a promising property in a promising place. Here is a sample of the kind of value The Globe provides.

For consumers trying to save for a house, a 30-year mortgage offers a glimmer of hope. The era of low interest rates is over, says The Globe’s personal finance columnist, Rob Carrick. As rates rise, the lower payments that come with an extended-period loan could give you breathing room to start a

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Those with insider knowledge on money laundering now have a safe way to share information with province

B.C. launches anonymous tipline on dirty money in real estate and other markets

People with inside information about shady goings-on in real estate and other luxury sectors now have a way to share it anonymously with the B.C. government’s investigative team. 

A new online tip portal was launched November 18 to give B.C. residents a safe avenue to report what they know about money laundering in the real estate, horse racing and luxury automobile markets.

Attorney-General David Eby, who is leading the money laundering crackdown, said in a media statement, “British Columbians want their government to crack down on money laundering, wherever it takes place. We agree and we also believe that British Columbians can help.

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High-end B.C. house prices dropping, but no relief at lower levels

VANCOUVER — The British Columbia government says it’s already seeing positive results from the policies it put in place to address the housing crisis, but one expert says there’s still a long way to go.

Housing Minister Selina Robinson says the government is seeing some high-end house prices starting to drop.

“Right now we’ve got the speculation and empty home taxes, so part of what we need to do is monitor the impact that it has and continue to see what it does,” Robinson said in an interview Sunday.

But Andy Yan, the director of the City Program at Simon Fraser University, says that while very expensive houses are starting to show a decline in price, the numbers haven’t translated to mid- and lower-level units.

“Sixteen months is a

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Steady strength

When investment sales figures for the first half of 2018 began being released in September, signs pointed to a record year and rising caution. CBRE Ltd. indicated that 2018 investment deals could exceed last year’s total of $11.75 billion. Meanwhile, Avison Young tipped “heightened political uncertainty, rising construction costs and affordability issues” as factors in a more cautious approach among “buyers and lenders alike.”

CBRE executive vice-president Paul Morassutti, also executive managing director of CBRE’s valuation and advisory services division, echoed those sentiments at the opening breakfast of the Vancouver Real Estate Strategy and Leasing Conference on November 1.

A decade of cheap debt, originally extended

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