New Zealand’s new Prime Minister-elect, Jacinda Ardern, has wasted no time in addressing that country’s soaring property prices.

Ardern – who seems to be taking over from Justin Trudeau as the global media’s latest, youngest, hippest nation leader du jour – announced October 24 that non-resident buyers will not be permitted to purchase existing homes anywhere in New Zealand (while also announcing a crackdown on immigration).

http://www.rew.ca/news/should-we-follow-new-zealand-s-foreign-buyer-ban-1.23075761?utm_source=Consumer%3A+Vancouver+Market+News&utm_campaign=beef2b4ec5-REW_Consumer_News_Friday_October_10_27_2017&utm_medium=email&utm_term=0_8e94885b84-beef2b4ec5-93614499

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Holding the overnight interest rate steady in its October 25 announcement, the Bank of Canada warned that future rate hikes would be likely, although at a more tentative pace than previously anticipated.

Following two interest rate hikes in July and September at consecutive policy meetings, the central bank said it had decided to hold off with another rate hike – for now. This corresponds with the BC Real Estate Association’s prediction in September that interest rates won’t rise again until 2018.

http://www.rew.ca/news/bank-of-canada-promises-caution-in-interest-rate-hikes-1.23074532?utm_source=Consumer%3A+Vancouver+Market+News&utm_campaign=beef2b4ec5-REW_Consumer_News_Friday_October_10_27_2017&utm_medium=email&utm_term=0_8e94885b84-beef2b4ec5-93614499

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Last year, so many of you so generously donated items to the REALTORS’ CARE BLANKET DRIVE and  as a result, that success contributed to the more than 300,000 people in our communities who have been helped over the past 22 years.

 

This year, THE NEED HAS NEVER BEEN GREATER.

 

Between Tuesday, November 14 to Tuesday, November 21, is the 23rd REALTORS’ CARE BLANKET DRIVE, and we are asking you to help the homeless and working poor stay warm and dry again this winter.

 

Of course, the BLANKET DRIVE does not just mean blankets…….

 

You can help with donations of:
  • gently used or new blankets or sleeping bags
  • warm clothing, coats
  • hats, gloves, scarves
  • new socks and underwear
  • plastic ponchos, bivy sack

 

Although there are many drop off locations on the North Shore, we will save you a trip …….just give us a call and we will pick up your items from you!  Judi 604-868-9812 or Cathy 604-760-2786

 

Thank you in advance for your help again this year. The unbelievable success of this yearly BLANKET DRIVE  is thanks to your donations!

 

 

 

Judi Whyte                                                                  Cathy Wood

604-868-9812                                                              604-760-2786

 

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The net effect of having non-local buyers investing in a real estate market such as Vancouver, Toronto or New York is overall a “negative” one, according to two professors from UBC and New York who are jointly studying the out-of-town investment on cities.

http://www.rew.ca/news/out-of-town-buyers-have-negative-effect-on-locals-1.23068301?utm_source=Consumer%3A+Vancouver+Market+News&utm_campaign=2dbba4b1dc-REW_Consumer_News_Friday_October_10_20_2017&utm_medium=email&utm_term=0_8e94885b84-2dbba4b1dc-93614499

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ll mortgage applicants will have to pass a “stress test” on their qualifying income – no matter how high their down payment – from January 1, the Office of the Superintendent of Financial Institutions (OFSI) confirmed October 17.

 

The stress test was introduced last fall to all applicants of insured mortgages (those with less than 20% down), but has now been extended to all mortgage applicants including uninsured borrowers, as that group comprises a larger segment of the mortgage market.

http://www.rew.ca/news/stress-test-for-all-mortgages-to-launch-in-new-year-1.23068135?utm_source=Consumer%3A+Vancouver+Market+News&utm_campaign=2dbba4b1dc-REW_Consumer_News_Friday_October_10_20_2017&utm_medium=email&utm_term=0_8e94885b84-2dbba4b1dc-93614499

 

 

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New homes in the City of North Vancouver are slated to be a little more expensive and a lot more efficient.

City council unanimously endorsed new construction guidelines in accordance with the B.C. Energy Step Code at an Oct. 2 meeting. The change is slated to come into effect as of Dec. 15.

http://www.nsnews.com/news/city-raises-building-standards-to-combat-greenhouse-gas-emissions-1.23063400 

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