Canada’s housing market is experiencing a slowdown in homebuying activity, which is allowing for an increase in inventory, according to the Canadian Real Estate Association (CREA). In July, national home sales decreased by 0.7% compared to the previous month. CREA stated that the housing market has been stabilizing after a bustling spring, as the Bank …
In 2007, Mr Carling and his wife made the bold decision to leave their jobs and invest in their first property, hoping to venture into the rental market. They had only £20,000 in savings to cover their expenses. Graeme and Leanne Carling purchased their initial investment property on Wild Goose Drive in Aberdeen for £230,000 …
When it comes to mortgages, the length of the loan term can have a significant impact on the total amount paid by a buyer. For instance, if a buyer takes out a £200,000 mortgage loan with a 25-year term and an average interest rate of 5%, they will end up paying £150,754 in interest on …
In the current real estate market and wider economy, homeowners are seeking ways to make use of the equity in their homes due to high prices. According to a study conducted by the real estate platform RubyHome, searches for “heloc” (home equity line of credit) have reached an all-time high, showing a remarkable increase of …
A new report released by the Canadian Centre for Policy Alternatives (CCPA) reveals that minimum wage earners across Canada are struggling to keep up with rental costs due to increasing interest rates and a lack of affordable housing. The report analyzes housing markets in Canada using the concept of a “rental wage” – the hourly …
A prominent think tank has issued a warning that house prices could drop as much as 25% if interest rates continue to surge. The Resolution Foundation reports that the increase in borrowing costs has already caused a £2.1 trillion decline in British household wealth over the past year. Despite this, the think tank suggests that …
As the summer heat settles in Canada, cottages are becoming more affordable, but rising inflation and interest rates are putting a damper on the plans of first-time buyers, according to real estate experts. With the Bank of Canada recently raising its key interest rate and the possibility of future hikes, it’s worth considering whether now …
This article is part of Global News’ Home School series, an informative resource for Canadians on the housing market. Finding your dream home can be a challenging process, but crafting a convincing bid doesn’t have to be. In this article, we’ll explore how to create a bid that sellers won’t ignore, covering everything from bid …
As the 2024 presidential campaign gains momentum, Joe Biden has taken to the stage, delivering speeches on “Bidenomics” and highlighting the country’s economic performance under his presidency. In normal circumstances, this would be an opportune moment for him to make such a pitch. However, we are facing unprecedented times. Unemployment has dropped to 3.6 percent, …
The Bank of Canada’s decision to raise interest rates for the second time is expected to have a cooling effect on the national housing market, which saw a surge in activity during the spring. However, experts are warning that the supply of homes for sale is too tight for significant price drops. Concerned about a …