Canadian Real Estate News Headlines (April 9th 2019)
Hello everyone. How are you?
I provide you with Canada’s news headlines for real estate news for today.
Insured Mortgages On Canadian Real Estate Fall Almost 10%
Canadian borrowers seeking the most leverage are tapping out of the market. Bank of Canada (BoC) numbers show the balance of insured mortgage debt made a huge drop in January. Here’s everything we know about the remaining balance.
Canadian Home Building Rebounds From Deep Freeze: Housing Update
Canada housing starts rebounded in March from a sluggish performance a month earlier, returning to levels more in line with demographics and highlighting the buoyancy of the nation’s battered real estate market.
Builders started an annualized 192,527 homes in March, the Canada Mortgage and Housing Corp. reported Monday. That’s up from 166,290 a month earlier, when excessively cold weather slowed construction.
Canada ignored its gigantic money laundering problem for years — and lawyers fanned the flames
Ottawa’s budget earmarked about $200 million over the next five years to address Canada’s massive money laundering problem.
This was promising news, but follows years of neglect resulting in the creation of gigantic laundering networks in Canada, the growth of criminal organizations, increased drug trafficking, housing unaffordability, and few prosecutions.
The budget came on the heels of a critical report by the U.S. State Department in March stating Canada is a global problem and vulnerable to major laundering operations, along with nations such as Afghanistan, the British Virgin Islands, China, Macau and Colombia.
Jethro Seymour, Toronto Real Estate Broker,
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