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Rising rates and cooling market increase financial risk of home renovations

Hillary and Andrew Strack-Cheng with their kids Leland and Juniper in their home on June 22.Cole Burston/The Globe and Mail Home renovations can be unpredictable and anxiety-laden at the best of times. But soaring costs, rising interest rates, cooling home prices and uncertainty about Canada’s economic outlook are increasing the financial risks associated with a …

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Canada needs 5.8 million new homes by 2030 to bring prices down to affordable levels, CMHC says

New homes are built in a housing construction development in the west-end of Ottawa on May 6, 2021.Sean Kilpatrick/The Canadian Press Canada needs an additional 5.8 million homes by the end of the decade to help lower average home costs and ensure households are not spending more than 40 per cent of their disposable income …

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Why housing costs are driving up inflation, despite the real-estate downturn

A house for sale in Ottawa on June 15.Spencer Colby/The Globe and Mail Canada’s housing market is plunging as higher interest rates scare off potential buyers. Even so, the effects of the slowdown are not showing up in the country’s red-hot inflation numbers. As the real-estate sector cools, the cost of owning or renting a …

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Buyers suggestions for improvements heard – and $30,000 added to sale price

Coldwell Banker Mountain Central 2 Hawthorne Cres. NW., Calgary Asking price: $1.45-million (March, 2022) Previous asking price: $1.45-million (August, 2021) Selling price: $1.48-million (March, 2022) Taxes: $9,999 (2021) Days on the market: not applicable Listing agent: Rob Vanovermeire, Coldwell Banker Mountain Central The action The eat-in kitchen opens off the back.Coldwell Banker Mountain Central Agent …

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