housing-market

Spanish islands propose law to limit short-term via platforms like Airbnb and Booking.com to help reduce overtourism

by

Authorities worldwide are grappling with similar issues: Canada, Australia, Malaysia and Italy are among many countries where rules have been tightened around short-term rentals to protect local communities. Candelaria harbour in Tenerife, Canary Islands, Spain. Photo: Shutterstock Minister of Tourism for the Canary Islands Jessica de Leon said enforcement support for the seven islands’ 35 … Read more

Home sales and prices edging up as housing market ‘could get interesting,’ reports say

by

The housing market could soon get “interesting,” economists say, as home prices and sales start to edge up, according to a pair of new reports released Friday. In its latest quarterly Home Price Update and Market Forecast, Royal LePage is forecasting that the aggregate price of a home in Canada will increase nine per cent in the fourth … Read more

Some consumers, businesses are feeling more optimistic about the economy, say BoC surveys

by

The Bank of Canada says business and consumer sentiment improved during the first quarter of the year, despite higher interest rates still putting a drag on the economy. The central bank on Monday released its business outlook and consumer expectations surveys, which showed increased optimism as people expect interest rate cuts are nearing. Although firms … Read more

Colorado’s property taxes, data centers, gun bills and more from the legislature

by

Legislation promotes construction of data centers. Not everyone supports the idea. Here’s why. A bill that would provide state tax rebates to draw data centers to Colorado has run into opposition from critics who warn of the facilities’ large demands for energy and water and potentially higher costs for other electric customers. The legislation would … Read more

Westminster’s housing crisis faces local opposition, state demands

by

Jodi Lovejoy can look out the window of her Westminster apartment and see the mountains of the Front Range. She can track the rolling clouds and watch the weather change over the peaks, something she used to do with her children. The neighborhood is quiet, dotted by mature trees. She doesn’t own the two bedrooms … Read more

Bank of Canada worries a rate cut now could overheat the spring housing market

by

The Bank of Canada is trying to thread a needle. It’s keeping rates higher for longer at least in part because it’s worried a rate cut now could undermine the last two years of pain and progress. “We don’t want to keep monetary policy this restrictive for longer than we have to. But nor do … Read more

January home sales jump 22 per cent from last year’s weak start

by

January home sales jumped 22 per cent compared with a year ago, the largest year-over-year increase since May 2021, according to The Canadian Real Estate Association. The association says the increase reflected weakness last year, which saw the worst start to almost any year in the past two decades. Home sales in January 2024 were … Read more

Hong Kong court orders Chinese property developer Evergrande to liquidate

by

A Hong Kong court on Monday ordered the liquidation of property company China Evergrande Group, a move likely to send ripples through China’s crumbling financial markets as policy-makers scramble to contain the deepening crisis. Evergrande, the world’s most indebted developer with more than $300 billion US in total liabilities, sent a struggling property sector into a … Read more

Bank of Canada says government efforts to curb housing crisis will help ‘gradually’

by

The Bank of Canada says record levels of immigration are driving up the cost of housing and recent government efforts to cut the number of non-permanent residents and encourage home building will help lower housing costs, but “only gradually.”  “In the short term any increase in population, particularly in an environment of constrained supply, is going … Read more

Douglas County sues state board over property valuation changes denial

by

Douglas County this week sued a state board in charge of evaluating property assessments, claiming officials overstepped their authority and wrongfully stopped the county from providing substantial tax relief to thousands of homeowners. Last month’s board decision and the appeal to a judge to step in come amid a fierce statewide debate over how to … Read more