Real Estate

High-income earners, many of them employees at AI companies, are snapping up multimillion-dollar houses in the San Francisco Bay Area, undaunted by the higher mortgage rates and rising home prices that have prevented many would-be buyers from affording a home.

Home sales in Calgary fell 16.4 per cent in August compared with the same month last year as prices also fell overall.

A new report from RBC Economics says Canada’s housing market appears to be “finally taking steps” toward a recovery.

A B.C. real estate agent has had his licence suspended for six months and agreed to pay more than $200,000 to a provincial regulator after admitting he improperly purchased a home that was designated for affordable housing.

Canada’s ban on most foreign homebuyers is set to expire Jan. 1, but economist Mike Moffatt says there is little evidence it made housing more affordable.

As the last wave of mortgage renewals from the era of ultra-low interest rates comes, a new survey suggests most homeowners have been managing higher payments.

The Canadian Real Estate Association says home sales in July were down compared with a year ago, but edged slightly higher month-over-month.

Canada Mortgage and Housing Corp. says the annual pace of housing starts in July fell five per cent compared with June.

Here are five things to watch for in the Canadian business world in the coming week.

Ontario and Ottawa are announcing up to $1 billion to help municipalities in the province build infrastructure for more homes.

Personal finance contributor Christopher Liew breaks down the closing costs first-time buyers underestimate most, and how to budget for them so moving day doesn’t start with a financial scramble.

A group of Toronto tenants gathered at a local park to welcome new members to their group, called Toronto Tenants Union, which only formed in April with a mandate to protect renters, especially low-income earners, and inform them of their rights.

The days of bidding wars on nearly every Toronto home are long over but so too could be the era of buyers holding all the cards, with one new report suggesting the GTA may finally be heading towards a “balanced” housing market.

A new report says the average national asking rent fell four per cent in July compared with last year and now stands at $2,037.

While many costs are fixed, experts say there might be some wiggle room on property taxes to get the amount lowered or a potential refund.