October 29, 2008
BCREA Fall Housing Forecast: Consumer Confidence Key to Housing Market Conditions
Vancouver, BC -The British Columbia Real Estate Association (BCREA) released its fall 2008 Housing Forecast today.
"BC Multiple Listing Service® (MLS®) residential sales are forecast to decline 28 per cent from 102,805 units in 2007 to 73,700 units this year. A modest 4 per cent increase to 76,500 ...
Posted by Jason Neumann
on November 2, 2008
Consumers not willing to cut back on web, cellphones
Updated Thu. Oct. 23 2008 5:48 PM ET
CTV.ca News Staff
Canadian households are preparing to cut back on expenses in the face of economic recession but two items which were a luxury only a decade ago -- the Internet and cellphones -- are among the last items Canadians are willing to forgo. For full story see CTV.ca
Here is the ...
Posted by Jason Neumann
on October 29, 2008
Daily TO flights benefit Big White by Castanet Staff - Story: 42259Oct 5, 2008 / 4:00 pm"Starting next year, non-stop flights between Kelowna and Toronto will take off. Air Canada announced earlier this week that starting January 5, 2009 that it will be restarting its weekend flights between Kelowna and Toronto during the winter ski season. Michael J. Ballingall of Big White ski resort says this is ...
Posted by Jason Neumann
on October 29, 2008
Well, here it is once again a headline just begging for some attention, or at least a guy trying to get fis five minutes of fame! It would seem that if the media isn't reporting a complete real estate meltdown, then economists are chucking more fuel onto the fire they are creating amongst those that own real estate. Canwest News Service published an article which quotes Merrill ...
Posted by Jason Neumann
on September 27, 2008
In an effort to protect and strengthen the Canadian housing market, the Governement of Canada has put a deadline on 40 year amortized mortgages. As of October 15,2008 it will a little more difficult for first time buyers to qualify for larger mortgages. It would be a massive understatement to suggest that this measure is being taken to avoid a similar crisis as the US real estate market ...
Posted by Jason Neumann
on September 26, 2008
I am asked the question is now a good time to look to buy real estate? My answer is always an emphatic...Yes! The market in Kelowna has begun to level somewhat as our listing inventory has increased and sales have decreased for the first quarter of this year. With The Bank of Canada announcing another reduction to prime rate, lenders have begun to adjust their fixed five year terms ...
Posted by Jason Neumann
on April 10, 2008
Last Updated: Thursday, January 31, 2008 | 11:09 AM ET CBC News
Economic activity in Canada inched ahead by 0.1 per cent in November, as growth remained modest through the autumn, Statistics Canada said Thursday.
Economists had been looking for growth of 0.2 per cent for the month.
The economy grew by 0.2 per cent in October, and by 0.1 per cent in September.
Service industry output rose by 0.2 ...
Posted by Jason Neumann
on January 31, 2008
The economic storm that has battered the U.S. isn't necessarily headed in B.C.'s direction soon, according to some financial analysts and market watchers in the province.
On Tuesday morning the main Canadian index, the S&P/TSX composite, was up 337 points to 12,467 by 11 a.m. ET after it had tumbled 605 points on Monday, while the U.S. market opened with a nosedive after being closed on Monday ...
Posted by Jason Neumann
on January 22, 2008
Housing starts set recordby Rachael Kimola - Story: 36474Jan 10, 2008 / 5:00 am
A record high was reached in local housing starts last year.
According to the Canadian Mortgage and Housing Corporation, housing starts in Kelowna climbed 4% from 2006 levels.
CMHC market analyst, Paul Fabri, says housing starts have broken the 2,500 unit mark for the last three years.
"Housing starts climbed four ...
Posted by Jason Neumann
on January 13, 2008
No recession in Canada, bank economists sayLast Updated: Wednesday, January 9, 2008 | 1:47 PM ET CBC News
"Canada's economic growth will slow down this year, but will avoid a recession, top economists at Canada's biggest banks agreed Wednesday.
TD Bank chief economist Don Drummond, speaking at a forum at the Economic Club of Toronto, is forecasting GDP growth of 1.9 per cent in Canada this year, ...
Posted by Jason Neumann
on January 9, 2008