Curious about Canadian real estate?🏡 Learn all about the Mortgage Stress Test and its impact on you! 📈💼 Our latest blog dives into this crucial topic. Check it out and stay informed! https://thecanadianhome.com/blog/what-is-a-mortgage-stress-test-and-how-does-it-affect-you #CanadianRealEstate #RealEstateCanada #MortgageStressTest #Homeownership #HomeBuyers #MortgageRates #HousingMarket #FinancialWellness #HomeownershipTips #PropertyMarket #RealEstateBlog #CanadianHousing #TheCanadianHome

👉The Canadian government has extended the Prohibition on the Purchase of Residential Property by Non-Canadians Act until January 1st, 2027, aiming to address housing availability for Canadians. The ban encompasses residential properties within Census Metropolitan Areas and Census Agglomerations. Exceptions include instances of divorce, separation, gifts, and death, along with property development. Non-Canadians with valid work permits can now purchase mixed-use and commercial land, subject to conditions. Violations of the act may lead to criminal charges, fines up to $10,000 CAD, and potential property sale orders. This extension is part of broader efforts to enhance affordable housing, complementing initiatives like the Apartment Construction Loan Program.✅ . 𝐑𝐞𝐚𝐥 𝐄𝐬𝐭𝐚𝐭𝐞 𝐋𝐚𝐰 𝐁𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐋𝐚𝐰 𝐂𝐫𝐢𝐦𝐢𝐧𝐚𝐥 𝐋𝐚𝐰 𝐒𝐢𝐦𝐦𝐢 𝐂𝐡𝐚𝐜𝐤𝐨 𝐏𝐫𝐢𝐧𝐜𝐢𝐩𝐚𝐥 𝐋𝐚𝐰𝐲𝐞𝐫, 𝐂𝐡𝐚𝐜𝐤𝐨 𝐋𝐚𝐰 📲+𝟏 𝟒𝟏𝟔-𝟓𝟎𝟗-𝟗𝟓𝟎𝟖 📧𝐬𝐢𝐦𝐦𝐢@𝐜𝐡𝐚𝐜𝐤𝐨𝐥𝐚𝐰.𝐜𝐚 @chackolaw.ca . . #CanadianHousing #ForeignBuyerBan #HousingRegulations #AffordableHousing #RealEstateCanada #HomeBuyerPolicy #HousingMarketTrends #mnm #malayalisnearmeapp #canadaupdate #canadanews

👉Deputy Prime Minister and Finance Minister Chrystia Freeland announced a two-year extension to the ban on foreign ownership of Canadian housing. With concerns over foreign money driving up real estate prices and impacting housing affordability, the ban, initially set to expire on January 1, 2025, will now remain in effect until January 1, 2027. This move aims to address worries about Canadians being priced out of housing markets in various cities. The government emphasizes its commitment to utilizing all available tools to enhance housing affordability, part of a broader economic plan that includes collaborative efforts with different levels of government to accelerate home construction.✅ . 𝐁𝐞𝐬𝐭 𝐈𝐧𝐝𝐢𝐚-𝐂𝐚𝐧𝐚𝐝𝐚 𝐟𝐥𝐢𝐠𝐡𝐭 𝐝𝐞𝐚𝐥𝐬 𝐚𝐰𝐚𝐢𝐭! 𝐑𝐚𝐡𝐦𝐚𝐧 𝐓𝐫𝐚𝐯𝐞𝐥 𝐒𝐞𝐫𝐯𝐢𝐜𝐞𝐬 (𝟔𝟒𝟕) 𝟖𝟖𝟗-𝟐𝟕𝟕𝟔, 𝟗𝟎𝟓-𝟒𝟏𝟐-𝟐𝟕𝟖𝟕 𝐬𝐚𝐥𝐞𝐬@𝐫𝐚𝐡𝐦𝐚𝐧𝐭𝐫𝐚𝐯𝐞𝐥𝐬𝐞𝐫𝐯𝐢𝐜𝐞𝐬.𝐜𝐨𝐦 @rahmantravelservices . . #ForeignOwnershipBan #CanadianHousing #HousingAffordability #RealEstatePolicy #CanadianEconomicPlan #Homeownership #GovernmentInitiative #mnm #malayalisnearmeapp #canadaupdate #canadanews

👉Rising rent costs in New Brunswick, up 9% from last October, triple the overall inflation rate, pose a severe challenge for apartment dwellers, exacerbating the cost of living. Affordability issues stem from a rapid population surge, overwhelming housing markets and outpacing construction. Home prices saw a 12.4% YoY increase, trapping tenants amid a 28.7% rise in average rent since October 2020, the highest among provinces. Food bank use surged 25%, affecting even employed individuals. Premier Higgs acknowledges housing challenges but sees them as positive amid population growth. Housing strategy targets 6,000 new units yearly, but only 4,401 were started recently.✅ . . #RentSurge #NewBrunswickHousing #RealEstateNews #HousingMarket #RentIncrease #CanadianHousing #NewBrunswickRentals #mnm #malayalisnearmeapp #canadaupdate #canadanews

👉Canada's average annual rent inflation rate has surged to a nine-month high, according to a study by Rentals.ca. The report highlights a concerning trend in the Canadian rental market, with rents showing consistent upward momentum. As housing costs continue to soar, this news underscores the challenges faced by renters in the country, emphasizing the pressing need for affordable housing solutions.✅ . . #RentInflation #CanadianHousing #RentalMarket #AffordableHousing #HousingCosts #RentalsCA #HousingChallenges #mnm #malayalisnearmeapp #canadaupdate #canadanews

👉British Columbia landlords will be allowed to increase rent by as much as 3.5 percent in 2024, a move the province says is in keeping with affordability for tenants and landlords’ ability to retain rental units. While the increase, announced Monday, is below the current rate of inflation, it is also more than the allowable increase for 2023, which was two per cent. “Housing costs have been rising across the country, particularly for housing, at a rate that is unsustainable for many people,” said provincial Housing Minister Ravi Kahlon. According to the province, the average 12-month inflation rate is currently 5.6 percent. If landlords decide to raise rent, they must give tenants three months’ notice through a provincial form. Rent can only be increased once every 12 months.✅ . . #BritishColumbia #BC #BCrentals #RentinBritishColumbia #internationalstudentsinbc #CanadianHousing #HousingCrisis #mnm #malayalisnearmeapp #canadaupdate #canadanews

👉Canada's Housing Minister, Sean Fraser, has hinted at the possibility of adjusting immigration targets to address the country's housing challenges. Fraser stressed the importance of aligning immigration policies with communities' capacity for housing, healthcare, and infrastructure. While he acknowledged the need to review temporary immigration programs, he also highlighted that reducing the number of newcomers who become permanent residents may not be necessary, as many are already in Canada as temporary residents. Fraser emphasized the need for consultation with other levels of government and institutions involved in housing solutions, and he reiterated that addressing the housing crisis should encompass a broader range of discussions beyond immigration.✅ . . #CanadianPolitics #ImmigrationPolicy #HousingChallenges #GovernmentResponse #FraserReport #CanadianHousing #HousingCrisis #mnm #malayalisnearmeapp #canadaupdate #canadanews