Mindblown: a blog about philosophy.
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Would-be homebuyers are still staying on the sidelines in Canada.
New data from the Canadian Real Estate Association shows a 5.9% decrease in home sales compared to last year. Higher interest rates are expected to limit sales and pressure housing prices. The impact of these rates is still affecting the market, with challenges for both homeowners and new residential construction. Despite speculation of further rate…
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Edmonton: 5th Most Affordable City for Housing in the World
A housing affordability report ranked Edmonton as the world's 5th most affordable major city for Housing. This means Edmonton has a relatively low median home price compared to median household income.
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30 Year Mortgages for First-Time Buyers
In Budget 2024, the federal government will allow up to 30 year mortgages for first-time homebuyers of new builds starting August 1, 2024. This change aims to help younger Canadians enter the housing market by lowering monthly payments. Eligibility criteria include being a first-time homebuyer and purchasing a newly constructed home. The measure will apply…
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Edmonton Boosts Budget for Housing, Infrastructure Renewal
Edmonton's 4-yr capital budget ↑ $263M to $10.4B. The increase is mainly for affordable housing projects and infrastructure renewal.
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Edmonton Buyers: 3 Condos and $116K Left
Alberta offers some of Canada's most affordable condo-apartments. Edmonton allows buyers to purchase 3 condos with $116K leftover.
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Happy Canada Day
To all Canadians around the world, a very happy Canada Day to you all. This day commemorates the unification of the three North American British colonies. Canada Day is a celebration of a united Canada and examining its defects, past and present, should not lead us to overlook its strengths. So let’s pour our hearts…
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Edmonton house prices have increased by $22,600 this year
A new report shows house prices in Edmonton rose by over $4,000 last month. The minimum annual income needed to buy an average home in Edmonton increased from $84,850 in April to $85,450 in May. Home prices in Edmonton have risen to $392,700 from $370,100 at the start of the year. Calgary saw a bigger…
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How Much Edmonton Homeowners Can Save With Rate Cuts
Interest rates in Canada have been cut for the first time in over 4-yr. This decrease will save Edmonton homeowners an avg of $203/mo on a 5-yr variable rate mortgage.
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Thinking of Relocating? Edmonton Ranks as Top Affordable Choice
A report by Royal LePage ranks Edmonton as the 5th most affordable city in Canada for housing. Affordability is measured by the percentage of income required for mortgage payments.
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Is Edmonton Real Estate Unfazed by Rate Cuts?
Bank of Canada rate cut unlikely to impact Edmonton market significantly; the city's market has remained strong despite previous high-interest rates.Edmonton's housing affordability may improve slightly; the rate decrease could make buying a home a bit more accessible.
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