Stephen Punwasi, Author at Better Dwelling Canada’s Fastest Growing Real Estate News Source Tue, 12 Dec 2023 19:25:08 +0000 en-US hourly 1 https://i0.wp.com/betterdwelling.com/wp-content/uploads/2016/07/cropped-better-dwelling-flower-logo.png?fit=32%2C32&ssl=1 Stephen Punwasi, Author at Better Dwelling 32 32 64691831 Canadian “Systemic Risk” Due To CLP Mortgages Is Bigger Than You Think https://betterdwelling.com/canadian-systemic-risk-due-to-clp-mortgages-is-bigger-than-you-think/ https://betterdwelling.com/canadian-systemic-risk-due-to-clp-mortgages-is-bigger-than-you-think/#comments Tue, 12 Dec 2023 19:25:04 +0000 https://betterdwelling.com/?p=24430 Canada’s problems with a little-known risky mortgage product are more significant than expected. OSFI, the country’s bank regulator, has targeted combined loan plans (CLPs) for the past few years. CLPs enable interest-only payments, allowing borrowers to carry mortgage debt perpetually. The regulator called these a “systemic risk” that inflates home prices, so it’s clearly a […]

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]]> https://betterdwelling.com/canadian-systemic-risk-due-to-clp-mortgages-is-bigger-than-you-think/feed/ 5 24430 Two of Canada’s Largest Banks Hit With Anti-Money Laundering Fines https://betterdwelling.com/two-of-canadas-largest-banks-hit-with-anti-money-laundering-fines/ https://betterdwelling.com/two-of-canadas-largest-banks-hit-with-anti-money-laundering-fines/#comments Thu, 07 Dec 2023 20:33:13 +0000 https://betterdwelling.com/?p=24403 Canada’s financial crime watchdog appears to have just woken up. This week, FINTRAC announced they fined two of the country’s biggest banks for anti-money laundering (AML) non-compliance. Sampling just a small number of transactions, the agency found serious gaps in reporting procedures that may have allowed dodgy money to slip through the system.  RBC Failed […]

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]]> https://betterdwelling.com/two-of-canadas-largest-banks-hit-with-anti-money-laundering-fines/feed/ 1 24403 Canadian Real Estate Arson May Rise As Economy Slows, Warns Insurer https://betterdwelling.com/canadian-real-estate-arson-may-rise-as-economy-slows-warns-insurer/ https://betterdwelling.com/canadian-real-estate-arson-may-rise-as-economy-slows-warns-insurer/#respond Wed, 06 Dec 2023 18:30:11 +0000 https://betterdwelling.com/?p=24396 The only bond stronger than a mother and its baby is the one between rising interest rates and the arson of new homes under construction. Commercial insurer Northbridge Insurance is warning home builders to look out for arsonists. In a letter this week, the firm explained they expect new home arson to rise as financial […]

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]]> https://betterdwelling.com/canadian-real-estate-arson-may-rise-as-economy-slows-warns-insurer/feed/ 0 24396 Canada Tries To Save Face With Study Permit “Limit” AFTER Demand Collapse https://betterdwelling.com/canada-tries-to-save-face-with-study-permit-limit-after-demand-collapse/ https://betterdwelling.com/canada-tries-to-save-face-with-study-permit-limit-after-demand-collapse/#respond Mon, 04 Dec 2023 18:05:12 +0000 https://betterdwelling.com/?p=24381 Canadian policymakers are floating the idea of capping study permits, but they don’t need to. Government of Canada (GoC) data shows a sharp decline in the number of study permit applications in September. When policymakers first pitched the idea of limiting students to help affordability, it appears they were attempting to save face. The public […]

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]]> https://betterdwelling.com/canada-tries-to-save-face-with-study-permit-limit-after-demand-collapse/feed/ 0 24381 Most Canadians Now Think Immigration Is Too High: Leger  https://betterdwelling.com/most-canadians-now-think-immigration-is-too-high-leger/ https://betterdwelling.com/most-canadians-now-think-immigration-is-too-high-leger/#respond Thu, 30 Nov 2023 16:46:37 +0000 https://betterdwelling.com/?p=24365 Canada is known for its generous immigration policies but that might change soon. A new survey from Canadian Press and Leger looked at the public opinion on immigration and its impact on services. Most households feel Canada is pursuing an overly aggressive immigration policy contributing to an affordability crisis, and a net negative impact on […]

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]]> https://betterdwelling.com/most-canadians-now-think-immigration-is-too-high-leger/feed/ 0 24365 Canadian Homeownership Rate Is Falling Sharply For Young Adults https://betterdwelling.com/canadian-homeownership-rate-is-falling-sharply-for-young-adults/ https://betterdwelling.com/canadian-homeownership-rate-is-falling-sharply-for-young-adults/#comments Mon, 27 Nov 2023 20:08:25 +0000 https://betterdwelling.com/?p=24355 Young Canadians may need to come to terms with the fact policymakers are driving ownership further out of reach every year. Numbers crunched by the Canadian Housing Statistics Program (CHSP) at Statistics Canada (Stat Can) reveals how ownership has changed over the past 50 years. For young adults, homeownership peaked nearly 40 years ago, and […]

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]]> https://betterdwelling.com/canadian-homeownership-rate-is-falling-sharply-for-young-adults/feed/ 1 24355 Canadian Rents Outpace Income For The First Time In 60 Years: BMO  https://betterdwelling.com/canadian-rents-outpace-income-for-the-first-time-in-60-years-bmo/ https://betterdwelling.com/canadian-rents-outpace-income-for-the-first-time-in-60-years-bmo/#comments Fri, 24 Nov 2023 16:53:07 +0000 https://betterdwelling.com/?p=24345 Canadian real estate prices are still seeing record growth, just not when it comes to sales. A new research note from BMO shows annual growth of rental prices grew at a record pace in October. They note the issue is complicated even further by rents outpacing income growth for the first time in 60 years.   […]

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]]> https://betterdwelling.com/canadian-rents-outpace-income-for-the-first-time-in-60-years-bmo/feed/ 2 24345 Canada Expects Unemployment To Rise 211k Within Months, Mostly Immigrants https://betterdwelling.com/canada-expects-unemployment-to-rise-211k-within-months-mostly-immigrants/ Wed, 22 Nov 2023 18:35:57 +0000 https://betterdwelling.com/?p=24335 Canada’s government is bracing for winter, and not the kind that brings fluffy white stuff. This week the Government of Canada (GoC) released its 2023 Fall Economic Statement. Buried amongst notes on higher deficit spending is a forecast for a sharp decline for labor. Unemployment is forecast to rise by hundreds of thousands of people […]

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]]> 24335 Canadian Housing Resembles A Return To Victorian-Era Inheritance Culture: Stat Can https://betterdwelling.com/canadian-housing-resembles-a-return-to-victorian-era-inheritance-culture-stat-can/ Mon, 20 Nov 2023 18:56:45 +0000 https://betterdwelling.com/?p=24321 Want to own a home in Canada? Have you tried wealthier parents? Statistics Canada (Stat Can) released a new study exploring the role of parental wealth in obtaining homeownership. They examined tax data to determine the homeownership rate for “adult children” born in the 1990s, in relation to their parent’s wealth. The odds of ownership […]

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]]> 24321 Canada Invests $444m With Company That Says Millennials Don’t Want A Home https://betterdwelling.com/canada-invests-444m-with-company-that-says-millennials-dont-want-a-home/ https://betterdwelling.com/canada-invests-444m-with-company-that-says-millennials-dont-want-a-home/#comments Thu, 16 Nov 2023 19:19:11 +0000 https://betterdwelling.com/?p=24301 Canada keeps repeating it’s spending billions on new housing, but with who, and how does it help? Earlier this week, Deputy Prime Minister Chrystia Freeland announced $1.2 billion worth of investments to build rentals in Toronto. It turns out over a third of those funds are going into one project—373 Front St East, which are […]

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