Real estate news stories that we’ve been following this week.
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Economists welcome Harper promise to collect foreign real estate investment data
A better understanding of international investors and where they are buying in Canada is called “very positive” but no one is uncertain what the data will be used for, if ownership rules will be brought in place. Also read “Foreign buyers snatch Vancouver land with no immediate plan to develop“.
Kevin O’Leary addresses ‘real estate correction’
“I don’t know if it’s going to be a 30 per cent correction,” Kevin O’Leary, founder of O’Leary Financial Group and long-time Dragon, told BNN in an interview. “Maybe it just goes flat for 10 years, I have no idea. But would I be deploying more capital into real estate now, not a chance.” Also read “Overvaluation concerns sounded once again“
Housing activity will slow ‘modestly’ in 2016 as interest rates rise: RBC report
The report says the risk of an outright crash in real estate is low, as RBC expects the economy will grow and interest rates will likely rise gradually starting next year.
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