Blog - Craig Doherty

Easy "Greening" For Your Home

(May 25, 2015)

Now is a great time to take steps toward saving energy and reducing the environmental impact of running a home. While replacing those old leaky windows and installing ceiling fans are great ideas, there are also small things that can be done around the house to lower energy consumption and reduce your carbon footprint. Here are some simple, sustainable adjustments that can make a real difference i... read more.

"No Need For Immediate Housing Policy Shift" - Finance Minister

(May 23, 2015)

Finance minister Joe Oliver says that there is no need for the federal government to make any immediate shifts in housing policy. Speaking Thursday at the Bloomberg Canada Economic Summit Mr Oliver said that if a need arises the government will act as appropriate. He also paid tribute to the work of the Canada Mortgage and Housing Corporation for making homeownership more accessible for more peopl... read more.

PM & BC Premier say "No" to taxing foreign investors

(May 16, 2015)

Both the prime minister and premier of B.C. have both ruled out taxing foreign investors in a bid to curb rising house prices in Vancouver.

Stephen Harper said the Conservative government would not introduce the measure; he also spoke of concern at the level of household debt, including mortgages in some households. He also reiterated that he believes the housing market is stable.

Separately, Christ... read more.

Buyers Prefer Quality Over Size

(May 14, 2015)

Canadian homebuyers are willing to compromise on the size of their new home but some things are not negotiable. That was one of the findings in a survey of 12,000 homebuyers conducted by the Canadian Home Builders’ Association. Its inaugural survey of the preferences of recent homebuyers found that 35 per cent would like a single-family detached 2-storey home but while 22 per cent would adjust the... read more.

Can't Have a Debate Without Data

(May 12, 2015)

I read this brief article on Canadian Real Estate Wealth:

"MP Calls For Data on Foreign Ownership: Kennedy Stewart, the MP for Burnaby, has once again called for a housing study to be conducted by government agencies and for these to include data on foreign ownership.

Stewart says that CMHC and Statistics Canada need to do the work as cities don’t have the time and resources to do so.

Speaking to Bur... read more.

Why Rates Won't Rise...Anytime Soon

(May 11, 2015)

Warren Jestin, the chief economist for ScotiaBank, said Canada’s central bank likely won’t raise interest rates, possibly until the end of next year.

Jestin pointed to several reasons behind his forecast, each of which he said led to the Bank of Canada’s concern for the economy, which, in turn, is keeping rates low.

The first concern is the low value of oil. Jestin said Canada’s economy is tradition... read more.

Craig Bytes May Newsletter

(May 08, 2015)

Short, sweet, to the point...Craig Bytes

Latest Travel to China...

(May 03, 2015)

I believe that to be effective in Real Estate you need to have (what the US term as) a tilt to China.

2 weeks ago I visited China for the 3rd time in the past 12 months. Shanghai was a day and a half of meetings and sight-seeing.
Then off to Beijing for the Annual Beijing Spring Property Expo. I joined colleagues from LA, San Fran, NYC in representing my Canadian Acquisition Partners in Vancouver, T... read more.

Vancouver Deemed Low Risk for Correction - CMHC

(May 02, 2015)

There is so much being written on this subject. Sure my mindset (as an old bankruptcy/restructuring lawyer) is that what goes up must come down. My thoughts are these. Prior to the Global Financial Crisis in 2008 no one had any idea that a bunch of rogues on Wall Street were putting together toxic mortgage books. The conservative nature of the Canadian finance sector and the mere existence of the... read more.

Affordability Continues to Weaken in Vancouver

(May 01, 2015)

A new report shows that housing affordability in Vancouver has continued to become more difficult.

The Desjardins Affordability Index shows that the average selling price in the metro is almost $850,000, which is double the average price ($424,000) in the other cities included in the study, and 10 times the average income in the area.

The report includes 18 areas but does not feature Atlantic Canada... read more.