Real Estate News Headlines // January 24th 2016

Jethro Seymour, one of the Top Toronto Real Estate Brokers, provides you with Canadian real estate news headlines

To track the role of foreign investment in Vancouver’s housing market, urban planner Andy Yan scrutinized land-title documents, measured condominium owners’ electricity use and even peered into trash cans outside newly purchased luxury houses.

Real estate economists want British Columbia’s government to tax foreign property owners and speculators despite Finance Ministry forecasts that the province could lose $1 billion in sales and up to 4,000 construction jobs.

Documents from the British Columbia Finance Ministry say the province would lose $1 billion in residential real estate sales and almost 4,000 construction jobs if government moved to reduce foreign investment in the housing market.

The International Monetary Fund has downgraded its 2017 forecast for Canada along with its outlook for the wider global economy.
The Washington-based fund cited the ongoing challenges from China’s slowing growth, plunging oil prices and a rising U.S. dollar.
Canada will grow just 1.7 per cent in 2016 and 2.1 per cent in 2017, the IMF predicted in its World Economic Outlook update on Tuesday.

Jethro Seymour, Davisville Real Estate Broker at Royal LePage RES Ltd., Johnston & Daniel Division

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