Uneasy Year of the Pig arrives for China – dependant BC companies

[BIV – February 4, 2019] Chinese New Year dawns on a jittery business landscape as Huawei dispute casts uncertainty over access to overseas markets Not only is Chinese New Year one of the local community’s most celebrated holidays, it is also typically the time for B.C. businesses – especially those with ties to the Chinese market – to celebrate a year of gains while looking optimistically at the potential of more in the coming year. 2019, however, is not a typical year. [...]

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OSFI under pressure by banks, industry lobbyists to ease mortgage stress test: sources

[Financial Post – February 4, 2019] Supporters of easing say the stress test should be flexible and adjusted to account for interest rate moves and market conditions TORONTO — Canada’s main financial regulator is coming under increasing pressure from banks and mortgage industry lobbyists to ease a stress test designed to cut out risky lending, but the regulator is expected to hold off on changing the rules, three sources with direct knowledge of the matter told Reuters. Proponents of a change say [...]

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BC Home + Garden Show: Find everything you need to know for your next big project

[Vancouver Sun – February 9, 2019] The BC Home + Garden show, February 20 – 24 at BC Place is brimming with projects to revamp your living space, big or small. It doesn’t matter how many times it’s happened before: Every time the BC Home + Garden show opens, show manager Tyson Kidd feels a mix of excitement and satisfaction at a job well done. “We really try to keep ourselves dialled in to what’s fresh and exciting,” he says. “We work [...]

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These were the 3 biggest Vancouver real estate trends of 2018

[Daily Hive – January 24, 2019] If nothing else, 2018 was an interesting year for Vancouver real estate. While the three preceding years had seen the real estate market in Vancouver increase in competitiveness, March of 2018 brought an abrupt and sudden change in both demand and supply. 2018 also saw both increases to the foreign buyers’ tax and the introduction of the empty home tax — placing additional pressure on demand. We talked to real estate expert Shawn Brown of West Haven Group to [...]

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Metro Vancouver home prices to bottom in 2019 and then bounce back: forecast

[BIV – January 21, 2019] Home prices in Metro Vancouver may slide further in 2019 but then will recover as demand continues and supply remains constrained, according to a panel of developers at a 2019 forecast event. Speaking at the Urban Development Institute’s annual Forecast Luncheon on January 17, Neil Chrystal, president and CEO of Polygon Homes, said, “This year, the single-family home market will remain slow, and experience further price corrections…. In order for prices in the multi-family market to stabilize, [...]

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Modest Home Price Growth Forecasted for 2019

[The Province – December 12, 2018] TORONTO — Home prices across the country are expected to rise in 2019, but only at a moderate pace compared with recent years, according to two of Canada’s largest residential real estate brokerages. Royal LePage is anticipating the national median home price will increase by 1.2 per cent in 2019, with prices in Toronto and the surrounding areas expected to rise 1.3 per cent to $854,552. Home prices in Greater Vancouver are forecast to go up [...]

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Canadian borrowers will feel this week’s U.S. interest rate hike

[CBC News – September 24, 2018] The world’s biggest central bank is expected to raise rates this week — and then keep raising them. With two eyes on the future, U.S. Federal Reserve chair Jerome Powell is expected to raise interest rates this week — and then keep raising them to keep inflation under control. (Yuri Gripas/Reuters) Markets are so certain that U.S. Federal Reserve chair Jerome Powell will raise rates this week that a failure to hike would likely have worse consequences for [...]

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The Home Front: How postal codes can reflect our design preferences

[Source: Vancouver Sun – August 11, 2018] Kendall Ansell, of Kendall Ansell Interiors, says design preferences in the suburbs differ from downtown Vancouver. Where you live doesn’t always reflect who you are, but there’s a good chance there’s some consistent interior design trends happening in your neighbourhood, says Kendall Ansell,  of Kendall Angell Interiors, who recently expanded her Vancouver Burnaby practice to include an office in Surrey. “We’ve made more of a commitment to going to the South Surrey, Surrey, White Rock [...]

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Waiting to see if declines in real estate sales translate into falling prices

[Source: CBC News – August 14, 2018] The Canadian real estate industry is used to disregarding gloomy predictions. But now, after a decade of laughing in the face of repeated false warnings that a housing slump was imminent, most Canadians affected by real estate — in other words, just about all of us — have suddenly become a little more wary. No one disputes the meteoric rise in Canadian house prices has come to an end. The latest figures from both Vancouver and [...]

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B.C. casinos claim revenue down because of new anti-money laundering rules

[Source: Vancouver Sun – August 30, 2018] B.C.’s new anti-money laundering rules have negatively affected revenues at the River Rock and Parq casinos. According to financial results released in August, Great Canadian Gaming Corporation saw a fall in B.C. revenues in the first six months of 2018 due in part to declines in money earned at gaming tables at the River Rock Casino in Richmond. The company said that was primarily attributable to a new requirement requiring casinos to complete disclosures [...]

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