STEVEN TSE PERSONAL REAL ESTATE CORPORATION
  • PROPERTIES
    • FEATURED LISTINGS
    • SOLDS
  • SERVICES
    • SELLERS
    • BUYERS
  • NEWS
  • CONNECT
    • MEET STEVEN
    • CONTACT
  • RESOURCES
    • TESTIMONIALS

BUSINESS REPORT: Is an interest rate hike in Canada just around the corner?

6/13/2017

 
Picture
MICHAEL LEVY (CKNW) As we noted on CKNW’s Moneytalks last Saturday, our contrarian view was that the Canadian dollar would begin to strengthen and that an interest rate hike from the Bank of Canada may be a lot closer than the first quarter of 2018.

Canada’s balance of trade is noticeably improving, owing to the weaker Canadian dollar, the country’s GDP showing impressive gains in the last two-quarters, and strong employment numbers for May – and in fact the last eight months.

An interest rate hike, at least back from the two emergency quarter-point cuts implemented to respond to declining oil prices, should be on the table for the central bank.

Bank of Canada Senior Deputy Governor Carolyn Wilkins said late on Monday that first-quarter growth in Canada had been “pretty impressive.”

And she said that signs economic growth is broadening would lead the central bank to consider whether current low rates would still be required.
​
The Canadian dollar is sure acting that way, up over 1.5 cents in the last two days.

City of Vancouver reminds empty-home owners of looming deadline

6/5/2017

 
Picture
PATRICK JOHNSON (24HOURNEWS) Vancouver's new empty homes tax could soon find its first targets.

Homeowners who keep their principal residence outside Vancouver are being reminded by the city they have until July 1st to find renters for their property.

The city's tax targets properties left vacant at least six months per year and not used as a principal residence. The 2016 census found 25,000 empty homes in Vancouver.

Homes that aren't being used by their owners as a principal residence but are being rented out will be exempt from the tax.

“In a rental housing crisis, it’s unacceptable for so much housing to be treated as a commodity while people who live and work in Vancouver can’t find an affordable and secure place to live,” Vancouver mayor Gregor Robertson said in the release. “Housing is for homes first, investments second. The Empty Homes Tax will help ensure the best use of all our housing, and boost long term rental supply by bringing thousands of homes back into the market.”

The release from the city notes there are many exemptions to the one per cent tax, which will be applied to property tax assessments at the end of the year. "Principal residences will not be charged the Empty Homes Tax, nor will properties that are rented long-term (with a tenancy agreement), or for at least 30 days in a row for a minimum of six months in aggregate over the course of a year," the city's statement read. "Most Vancouver homeowners, including snowbirds, will not be subject to the Empty Homes Tax."

The tax reinforces "the principle that housing used as a business will be taxed as such."
​
Owners are not able to declare their property's principal or non-principal residence status until December.

Funds raised by the tax will be applied to affordable housing projects, the city has said.
​

    Market Update

    Updates on Real Estate news happening in your city. 

    Archives

    January 2023
    November 2022
    October 2022
    September 2022
    August 2022
    June 2022
    May 2022
    April 2022
    March 2022
    February 2022
    December 2021
    November 2021
    October 2021
    September 2021
    August 2021
    July 2021
    February 2021
    January 2021
    November 2020
    October 2020
    August 2020
    July 2020
    May 2020
    February 2020
    January 2020
    December 2019
    November 2019
    October 2019
    September 2019
    August 2019
    July 2019
    June 2019
    May 2019
    April 2019
    March 2019
    February 2019
    January 2019
    December 2018
    November 2018
    October 2018
    September 2018
    August 2018
    July 2018
    June 2018
    May 2018
    April 2018
    March 2018
    February 2018
    January 2018
    November 2017
    October 2017
    September 2017
    August 2017
    July 2017
    June 2017
    May 2017
    April 2017
    March 2017
    February 2017
    January 2017
    December 2016
    November 2016
    September 2016
    July 2016
    June 2016
    May 2016
    April 2016
    March 2016
    February 2016
    January 2016
    December 2015
    November 2015
    October 2015
    September 2015
    August 2015
    July 2015
    June 2015
    May 2015
    April 2015
    March 2015
    February 2015
    January 2015
    December 2014
    November 2014
    October 2014
    September 2014
    August 2014
    July 2014
    June 2014
    May 2014
    April 2014
    March 2014
    February 2014
    January 2014

    Categories

    All
    Architecture
    Banking & Mortgage
    City Development
    City Events
    Home Staging
    Market Trends
    Project Presales
    Strata
    Supportive Housing
    Vancouver Heritage

  • PROPERTIES
    • FEATURED LISTINGS
    • SOLDS
  • SERVICES
    • SELLERS
    • BUYERS
  • NEWS
  • CONNECT
    • MEET STEVEN
    • CONTACT
  • RESOURCES
    • TESTIMONIALS