Category: Headline News

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Condo Sales Increase: Not Only in The Metropolis

You’d think that condos were only heading the market on urban areas, but they are saying: “Saint-Hyacinthe, Saint-Jean-sur-Richelieu and Granby, condominium sales accounted respectively for 20, 14 and 12 per cent of all residential sales.” … And with some many options, prices and styles for condos, it doesn’t surprise you that young buyers are deciding for a more practical living quarters, such as a condo over purchasing a house.

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New Condo Building Collapsing – The Gazette

The administrators of the New Home Guarantee Program refused to cover the repair costs to the building because the (five year) warranty had expired at the time all the faults were discovered. The warranty program requires that when construction is completed, the contractor must inform the condo association that it has to hire an independent, professional building engineer to assure the work meets the building code and the specifications of the purchase agreements.

Commute is driving Montrealers into condos downtown

TD Canada Trust Condo Poll suggests condo affordability is key for young homeowners –

MONTREAL, May 10 /CNW/ – Many Montrealers are attracted to condos because they want to live downtown and cut down their commute. In the 2011 TD Canada Trust Condo Poll, which surveyed Canadians who are thinking of buying, or recently bought a condo, more Montrealers named these two reasons as the main motivation for their condo purchase than respondents in any other city. The poll found affordability to be another main reason for Montrealers’ interest in condos (42%). Across all cities surveyed, affordability was most important for respondents under 35-years-old (62% versus 46% for other age groups). This age group seems to view condos as a stepping stone into homeownership, with many planning to move in the not too distant future. But, is this a good strategy?

News, Home Prices Drops and Readers Bite Back

You can always count on the media and the “Market experts” to make an issue out of something small, like the 0.1% decrease the new home prices in July.

CTV News [Edmonton] reports: “The price of new homes fell 0.1 per cent in July after a 0.1 per cent increase in June — the first drop in more than a year, according to Statistics Canada’s latest report.”