When Andrés Peñaloza and his wife Maria Fernanda Gonzalez first immigrated to Canada from Venezuela more than two years ago, they dreamt of a better life, which included owning a home. But after years of looking to buy something that would be suitable for the family they hope to start in Vancouver, they’ve quit searching.“We’ve seen the bidding wars and houses selling way over asking price. It’s very discouraging,” Peñaloza, who works as a research assistant at the University of British Columbia, told Global News.With the average home price in Canada jumping 31.6 readmore
A trickle of supply started returning to the country’s real estate market in March as home sales hit an all-time record, the Canadian Real Estate Association said Thursday.Sales across the country amounted to 76,259 last month, up 76.2 per cent from 43,283 during the same period last year.Sales in March were up 5.2 per cent compared with February.As sales climbed, so did the number of Canadians willing to sell their homes. The market saw 105,001 new listings during the month, a more than 50 per cent increase from 69,665 last March. Listings were up 7.5 per cent on a seasonally adjusted month-over-month basis.“Remarkable readmore
When Fan Yang’s wife became pregnant with the couple’s second child five years ago, they decided to move out of their 700 square-foot condo in downtown Toronto. But he says finding a suitable place in the city was a tall order.“When we looked for a three-bedroom unit, it would be more luxury products like a penthouse or 1,500 square feet which we couldn’t afford,” he said in an interview with Global News.Housing that is bigger than a shoebox condo but smaller than a single-family detached home is referred to as the “missing middle.” Some observers say Toronto readmore
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