Is Co-Ownership Going to Become the New Normal?

Your weekly update on what is going on in the real estate market. From localized announcements to international trends, stay in the know about what is going on all things real estate. 

Borrowers feeling the strain as Bank of Canada says higher rates may be here to stay

Be prepared, the Bank of Canada said this week — the era of low interest rates may be over. Since the great financial crisis of 2008, interest rates in Canada have not risen above 1.75 per cent and during the pandemic they sunk as low as 0.25 per cent.

Canada’s immigration plans can help with housing crisis by boosting residential construction sector

These Government of Canada goals include an additional 3.5 million units by 2030, comprising standalone housing, condo units and other home types for homeowners and renters.

The problem is the country will face an average structural labour shortage of 12,000 jobs a year, based on expected growth of 15 per cent by 2030, according to CBoC. As for the trades (including residential construction needed to build new homes), its shortage is largely in part due to challenges attracting youth and an aging workforce.

Canadians Are Spending A “Record Share” Of Disposable Income On Mortgage Payments

BMO Economist, Sal Guatieri, says that Canadian homeowners are spending more on their mortgages than ever before.

In a note from Monday, Guatieri revealed that Canadian families put just over 8% of their disposable incomes towards their mortgage payments in the second quarter. While that figure on its own may not seem remarkably high, Guatieri notes that it represents a “record share” of disposable income.

The Belleville Senators take on Rochester Americans (AHL affiliate of Buffalo Sabres) on Saturday November 18 at CAA Arena!



Puck drop is 7:00 and gates open at 6:00. Get your tickets here: https://bellevillesens.com/tickets/

This year’s parade is scheduled on Sunday, Nov. 19, 2023 and starts at 4:30 pm.



The parade will follow the same route as last year’s, from Tim Horton’s at Bridge & Sidney Street to Bridge and Herchimer.