Federal money may be coming to help with real estate purchases

On Behalf of Porter Ramsay LLP | Jan, 29, 2019 | Real Estate Law

The federal government may step in with some sort of financial help for younger people aiming to own their own homes. In British Columbia as in other provinces, the dream of homeownership is slipping away from many, especially millennials. Escalating prices and federal stress tests have made owning real estate a far-fetched notion for many Canadians. The federal Liberals are on a mission to engage younger voters for a strong election turnout, according to some analysts. Federal Finance Minister Bill Morneau didn’t elaborate on what options the government is considering, but that more information would be forthcoming when he releases the... View Article

Real estate: British Columbia largest city unaffordable for many

On Behalf of Porter Ramsay LLP | Jan, 16, 2019 | Real Estate Law

Many young professionals are high-tailing it out of Vancouver. These 20- and 30-somethings are heading for places where real estate is more affordable — like Kelowna. The high cost of living in the most expensive British Columbia city is getting a little stressful and unaffordable for many, especially for the young. And because real estate is so expensive in Vancouver, renters are often turfed out of their homes through no fault of their own, but because the owners are selling for big bucks. In fact, Vancouver is becoming so unaffordable that the city is losing skilled labour to other areas. Vancouver... View Article