By Sunny Freeman, The Canadian Press TORONTO – The number of new homes being built will grow slightly more than originally thought this year as strong employment and low mortgages rates outweigh the risks posed by financial turmoil, Canada Mortgage and Housing Corp. said Wednesday. The agency forecasts that an average 183,200 units will be […]

OTTAWA, August 24, 2011 — Housing starts are forecast to remain steady in 2011 and 2012, according to Canada Mortgage and Housing Corporation’s (CMHC) third quarterHousing Market Outlook, Canada Edition.1 “Housing starts have been strong in the last few months, but are forecast to moderate closer in line with demographic fundamentals,” said Mathieu Laberge, Deputy Chief […]

By The Associated Press WASHINGTON – Regulators on Friday closed one bank each in Florida, Georgia and Illinois, lifting to 68 the number of U.S. bank failures this year. The pace of closures has eased in 2011 as the economy has slowly improved and banks work their way through the bad debt accumulated in the […]

TORONTO – Home ownership in Canada became more expensive for the second straight quarter, but recent global market and economic turmoil could actually help keep a lid on expenses by keeping interest rates low, RBC Economics reported Monday. During the second quarter of 2011, the proportion of pre-tax income required to service the costs of […]

What factors affect the value of a home? Location: Real estate people always say “Location, location, location.” That’s because the area you live in will be the biggest factor affecting your home’s price. It’s smart to buy a home where housing prices are likely to increase. Also, the people who may buy your home from you […]

By Craig Wong, The Canadian Press OTTAWA – The pace of inflation eased in July as increases in the price of gasoline slowed, giving the Bank of Canada room to keep interest rates at their exceptionally low levels. Statistics Canada said Friday that the consumer price index rose at a annual pace of 2.7 per […]

By Mary Gazze, The Canadian Press TORONTO – Canada’s real estate market is now expected to grow this year rather than decline, as buyers take advantage of continued low interest rates that are intended to offset recent economic turmoil, economists said Tuesday. The comments came after the Canadian Real Estate Association revised its 2011 national […]

In recent years, homeowners have been feeling pretty smug about their investing prowess as they’ve watched home prices surge. But the costs homeowners face to buy, sell and maintain their homes mean they haven’t made nearly as much as they think. In this example, we calculated your real profit — after expenses — if you […]

Donnie Wahlberg may have been a New Kid on The Block, but his cutie-boy brother Mark Wahlberg, (Marky Mark to those who remember the 90s) has become a new kid on a block in Toronto…in the form of a $12 million penthouse condo. The posh bachelor pad is close to Wahlberg’s usual digs at The […]

By Sunny Freeman, The Canadian Press A stronger than expected housing market has helped propel growth in the Canadian economy this year, but economists say recent economic and market tumult could jeopardize momentum in the sector. The Canada Mortgage and Housing Corp. said Monday that national housing starts rose to 205,100 units on a seasonally […]