Can Canada Escape a US-Style Housing Crash?

Canada: The land of hockey, socialized health care, and maple syrup. That’s the stereotype, anyways. But people who actually live in this country know that this gross over-simplification of our culture misses a very important piece: Complaining about real estate prices. Seriously. Canadians love complaining about real estate prices. It’s our national past-time. We’re somehow simultaneously obsessed with owning houses, while complaining bitterly about how much they cost. In fact, in the last federal election, the number one issue that mattered the most to Canadian voters was reining in housing prices. Not dealing with the pandemic that was still going, […]

The Return of Underwater Mortgages

In a previous life, my mom used to be a real estate agent, and she often shakes her head at the crazy behaviour of “kids these days” buying houses over Zoom, getting into massive bidding wars, and the signing condition free offers. Back in HER day, people would make their offers conditional on financing, or selling their existing home. They would insist on home inspections! And they definitely would want to see the damned thing in person before plunking down their entire life savings! However, there is something from “back in the day” that might be making an unwelcome return: […]

The Conundrum of Home Affordability

The world may be distracted by all sorts of geopolitical shenanigans right now (Afghanistan, the resurgence of COVID, etc.), but here in Canada you may be surprised to learn that we are going through something rather interesting right now: a federal election. While the last American election in 2020 was focused mainly on the government’s pandemic response, the Canadian one is focused on something entirely different: the housing market. This is not a uniquely Canadian issue, but up here in the frozen North the government reacted to the freefalling economy during the pandemic as many governments did: by dropping interest […]

Should You Buy a Co-op?

A few weeks ago a reader emailed us asking “I get that houses and condos are super pricey right now, but I just found this co-op in my neighbourhood that’s still reasonably priced. Is that a good idea?” To which my response was “What the Hell is a co-op?” Turns out, in the spectrum of home types you can buy that range from “detached single family mansion” to “tiny box in the sky,” there exists a weird and relatively obscure breed of housing called the co-op, or housing co-operative. They physically can look like anything from an apartment-style dwelling to […]

How to Evict Your Tenant

Last Monday, we talked about “renovictions” and how a tenant took her landlord to small claims court and won. But just as there are bad landlords, there are also bad tenants. Today, we’re going to hear the opposite side of the story—a landlord who had to evict a tenant who hadn’t paid rent for over 6 months! As you know, it’s already a pain the ass to evict a bad tenant, but during a pandemic? That sound you just heard is the sound of landlords collectively screaming and pulling their hair out. Let’s find out from “Big City Landlord” what […]

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