Latest in Mortgage News: Rising Prices Spur Talk of Capital Gains Tax on Home Sales

The editorial readily admits it would be the country’s “most unpopular tax,” but suggests it’s a discussion worth having due to the enormous tax-free gains being made by today’s sellers.

Latest in Mortgage News: Rising Prices Spur Talk of Capital Gains Tax on Home Sales

The Department of Finance actually tracks the revenue the government is missing out on by not taxing home equity on principal residences: $7.1 billion this year alone.

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Prices to keep soaring in Canada’s undersupplied housing market: Scotiabank

The February data is just another entry in a now eight-month streak of record-breaking sales activity and head-spinning price gains.

Prices to keep soaring in Canada’s undersupplied housing market: Scotiabank

Despite the lockdown measures in place in many regions across the country, Omran wrote in a recent research note that the “stronger-than-expected trend” in the Canadian housing market carried over from 2020 and into 2021.

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Record-low Supply and Interest Rates Fuel Record October Home Prices

Sales were up 32.1% year-over-year and set a new record for September by a margin of 14,000 transactions, according to CREA.

Record-low Supply and Interest Rates Fuel Record October Home Prices

The Canadian Real Estate Association reported the average sale price at $607,250 for the month, an increase of 15.2% from a year earlier.Removing the high-priced markets of Toronto and Vancouver, the national average price was $480,250, up 19.5% from a year ago.

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How to take advantage of Canada’s growing real estate prices

You might want to consider diving into the world of real estate investment.

How to take advantage of Canada’s growing real estate prices

The world economy may be in shambles, but the Canadian housing market is showing few signs of it. It’s actually doing quite well these days. So much so, that you might consider diving into the world of real estate investment.

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Latest in Mortgage News: 2.5 Years for Home Prices to Make New Highs, Says CMHC

The report reiterated the agency’s forecast that house prices could decline anywhere from 9-18%, adding that oil-producing regions could see declines up to 25%.

Latest in Mortgage News: 2.5 Years for Home Prices to Make New Highs, Says CMHC

“Following large declines in 2020, housing starts, sales and prices are expected to start to recover by mid-2021 as pandemic containment measures are lifted and economic conditions improve,” said the housing agency’s chief economist, Bob Dugan.

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