The Prices Are Falling Like Snow In Canadian Real Estate

In Canada's major real estate markets the average price for a resale home fell $3,500 in the month of November. In Vancouver the price fell a whopping $29,000, but the average price there is still about $520 K. In red hot markets such as Calgary the prices dropped as well. Don't get too upset, prices are still way up over the same month last year, 36% in Calgary and 42% in Edmonton. The full article is available at CBC.ca.

Bill 152 - Real Estate Fraud

The Ontario government has passed a bill that increases the penalties for mortgage and real estate fraud, yet they deny the increasing problem. The new law enables mortgages and titles obtained under fraudulent means to be null and void. This is a step in the right direction, but mortgage fraud is a growing problem, with the current maximum fine being only $1000.

A conference in Toronto has pointed out Canada as "a world leader in mortgage fraud." This is not a positive thing. The conference of law enforcement officials says more has to be down about real estate fraud, as the reward is much higher than the risk involved in the crime.

Tackling Homelessness

Vancouver has a growing problem, the homeless. As real estate prices rise every corner of the lower mainland is being developed. Single Room Occupancy (SRO) Hotels are being converted, or replaced by new Condos that sell for hundreds of thousands. The displacement of people is something Vancouver must deal with before it gets out of hand, and they are taking note from places like San Francisco and New York.

Real Estate Prices In Vancouver Are Ridiculous

Yes, Real Estate prices in Vancouver are ridiculous. But there may be hope for a decrease in home prices. Analysts have seen huge price increases in Vancouver in the past, and they have always been followed by a trough. The cycle has been evident for the last 30 years, so perhaps we can expect a price relief on Vancouver home prices. Read the article in the Sun and make conclusions for yourself.

On a completely different, but just as interesting topic Google has ventured into radio advertising. Google is beta testing radio ads that customers can sign up for through their adwords account. The company has selected a few choice customers to try the new approach.