Canadian Real Estate- Steady as She Goes?
Now that the Liberal Government has solidified its re-election bid we must now wait and see if they move ahead with their proposed housing policies, including a nationwide speculation/empty homes tax and a boost to the first time home buyers incentive.
Meanwhile markets still think the Bank of Canada will remain on hold for the remainder of this year, despite a likely rate cut coming from the Fed later this month. So we are kind of stuck in limbo, with the market nestled in smooth sailing.
Even despite all the turmoil, residential construction spending in Vancouver remains in positive territory, at least for now.