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Canada Bans Foreigners From Purchasing Most Real Estate
Source: VOA News --- VANCOUVER, CANADA — With the dawn of 2023, the Canadian foreign buyers ban went into effect, banning non-Canadians from purchasing property, with several exceptions. These include landed immigrants, workers on temporary visas, refugees and some...
Mortgage rates start 2023 twice as high as they were a year ago
Source: CNN Business --- Washington, DCCNN — Mortgage rates inched up again last week, after a slight increase the week before interrupted six straight weeks of falling rates. The 30-year fixed-rate mortgage averaged 6.48% in the week ending January 5, up from 6.42%...
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Prepare yourself: ‘The U.S. housing market is at the beginning stages of the most significant contraction in activity since 2006’
Source: Market Watch --- The U.S. housing sector is in the midst of the biggest slowdown in over a decade, one economist says. But don’t expect prices to fall back down to earth just yet. “The U.S. housing market is at the beginning stages of the most significant...
Luxury-Home Sales Sink 18%, the Biggest Decline Since the Start of the Pandemic
Source: Redfin --- he luxury-housing market, which experienced a meteoric surge last year, is coming back down to earth amid a slumping stock market, rising mortgage rates and economic uncertainty. Sales of luxury U.S. homes fell 17.8% year over year during the three...
Do you want to know how inflation impacts your savings? The ‘rule of 72’ may help
Source: CNBC --- Inflation is eroding the value of consumers’ savings at the fastest pace in four decades. The Consumer Price Index, which gauges how quickly costs are rising for a basket of goods and services, jumped 8.6% in May from a year earlier, the U.S....
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