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Thursday, December 10 2009
OTTAWA (08 December 2009) - Housing starts turned in their strongest performance this year in November, reaching 158,500 units on a seasonally adjusted basis, according to the latest data from Canada Mortgage & Housing Corporation (CMHC). That's slightly higher than October's 157,400 units but, in an even more positive sign, most of last month's starts were of single homes. |
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Monday, December 07 2009
All GVHBA members were informed last week that BC Place Stadium will close for renovations in April. Most impacted are the B.C. Boat Show and B.C. Home and Garden Show. |
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Saturday, December 05 2009
"Every segment of our population and every individual has the right to expect from our government a fair deal."
-- Harry S. Truman
In Nov. 7 Westcoast Homes column, I surmised that the only plausible reason the provincial government had for delaying the release of the harmonized sales tax transitional rules for new homes was that it was considering changes to the unreasonably low rebate thresholds. The HST transitional rules define how the provincial portion of the tax will be applied to new homes sold prior to the July 1, 2010 implementation date and ownership or possession occurs on or after July 1. |
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Friday, November 27 2009
On October 29, 2009 the Canadian Real Estate Association (CREA) announced that the Competition Bureau indicated that a number of fundamental changes should be made to the Multiple Listing Service (MLS) system. CREA was presented with two options: either negotiate a settlement agreement or be subject to the Competition Tribunal. Currently, CREA has chosen to pursue the settlement agreement option. In plain English, this means that the Competition Bureau is trying to force CREA’s hand by saying that we either negotiate changes to the MLS system or CREA can risk serious penalties. The big question remains, what does all this mean? |
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Friday, November 13 2009
According to Canada Mortgage and Housing Corporation (CMHC), October was another encouraging month for housing starts. |
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Friday, October 30 2009
CHBA’s National Education and Training Advisory Committee (NETAC) compiled a list of good practices for new home builders and renovators to consider this flu season. |
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Thursday, October 15 2009
If you are considering sprucing up the old homestead, pay attention to Feb. 1, 2010. No, it has nothing to do with the Olympics. The federal government’s Home Renovation Tax Credit expires on that day. Until then, and since Jan. 27, 2009, homeowners making improvements to eligible dwellings – house, vacation home, condo – will be able to claim a 15-per-cent tax credit on their 2009 income-tax returns. |
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Wednesday, October 07 2009
For the first time in both provinces, there will be a PST on the sale price of new housing – previously only building materials were taxed. Both provinces plan to apply a lower level of tax on the first $400,000 of a house price. Housing priced above $400,000 will face a two-tier tax whereby the first $400,000 will be taxed at 2% ($8,000) and the remainder will face the general rate of PST (8% in Ontario and 7% in B.C.).
Full report on new housing rebates thresholds is available here |
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Tuesday, October 06 2009
Vancouver Giants vs. Red Deer Rebels. Friday, November 13 7:30 p.m. at Pacific Coliseum |
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Wednesday, September 30 2009
To date, government has not responded to industry's recommendations to mitigate the effects the harmonized sales tax (HST) imposes on new housing and renovations.
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