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homes | mortgage | Real Estate
Exciting New Mortgage Rules Effective December 15th
Exciting New Mortgage Rules Effective December 15th Exciting changes to mortgage rules are here! Here’s what you need to know: Key Updates 1. 30-Year Amortizations 2. Higher Price Cap 3. Newly Built Homes Focus • Homes must be owner-occupied and not previously used for residential purposes. What This Means for You Share this page
Canadian spots rank among top 100 best cities in the world
Several Canadian cities have been named among the best in the world, according to a new ranking. Resonance Consultancy and Ipsos Research’s list of the World’s Best Cities in 2025 has been released, ranking the top 100 global cities “shaping tomorrow.” The report looked at cities with over a million people, combining stats and user-generated data from platforms like Google, Tripadvisor, and Instagram. The ranking considers various factors, including affordability, education, and overall quality of life. Three Canadian cities cracked the top 50, with Toronto ranking the highest in 15th place. Ontario’s capital placed high for its tree cover, or the measure of an urban area’s land that’s covered with vegetation that’s at least 16 feet in height, and educational attainment. “The construction boom has reshaped downtown, from revitalized cultural landmarks like Massey Hall to the new Renzo Piano-designed Ontario Court of Justice,” reads the report. “The addition of Love Park, with its heart-shaped pond, adds greenery to the city’s core.” It also highlighted the upcoming Rogers Stadium, which will be the city’s largest outdoor concert venue, and the construction of Villiers Island, which is part of the Port Lands Flood Protection Project. Following closely behind is Vancouver in 22nd place. It also stood out for its tree cover and educational attainment. The reason for Vancouver’s ranking is based on a few factors. According to the list, “a panorama of ancient forests, totem poles, pan-Asian diaspora, and hockey-loving hipsters makes Vancouver a coveted destination.” The cons include an apparent lack of space in hotels and the ongoing ban on short-term rentals. “In the midst of rising real estate prices, the city is facing another challenge: fewer hotel rooms — a direct result of the government converting hundreds of rooms into social housing during the pandemic and cracking down on Airbnb-only rentals (ostensibly to free up rental housing).” The validity of that statement is highly debatable. City officials have been concerned about the hotel crunch for a long time, well before the pandemic. Rounding out the top 50 is Montreal in 35th place, getting accolades for its educational attainment and its low poverty rate. Resonance described it as Canada’s “laid-back second city (and North America’s most European).” Canada’s capital city Ottawa just missed the top 50, placing 52nd for its tree cover and educational attainment. “The cosmopolitan capital of Canada has a reputation for brainpower that’s attracting the world,” reads the report. Other major Canadian cities that made the list are Calgary in 54th place and Edmonton in 65th place. Do you agree with these rankings? Let us know in the comments. With files from Claire Fenton and Allison Stephen
Income | income tax | North
How much income tax Canadians will pay next year based on their bracket
Canadians will be paying more federal income tax next year, according to the Canada Revenue Agency (CRA). The CRA revealed the federal tax brackets for 2025, adjusted for inflation. While federal tax rates are the same, the income thresholds for each bracket have shifted. In 2025, the indexation increase will be 2.7%, which is lower than the 4.7% in 2024, according to the agency. This is how much income tax you’ll have to pay next year based on your bracket: Less than or up to $57,375 — 15% Between $57,375 and $114,750 — 20.5% Between $114,750 and $177,882 — 26% Between $177,882 and $253,414 — 29% $253,414 and over — 33% This comes after the federal government implemented the capital gains tax in June, which increased the inclusion rate from one-half to two-thirds for any Canadian or corporation that makes over $250,000 per year in capital gains. The tax hike only impacts a small portion (0.13%) of the wealthy population. “An increased Lifetime Capital Gains Exemption would ensure most middle-class entrepreneurs won’t pay more tax because of these changes, and the new Canadian Entrepreneurs’ Incentive would encourage entrepreneurs to invest in capital-intensive and high-growth sectors,” Canada’s Department of Finance stated. When it was first announced, Canadians ripped on the wealthy upset by the capital gains tax hike, and certain industries like the medical field said the hike could push doctors to quit. You can find more information on your income tax bracket here.
The second coldest place on Earth today is in Canada and it’s bone-chilling
Northern Canada is facing some extreme cold this week, and one spot just became the second coldest place on Earth this morning. A new weather report from WX-Now, which tracks the world’s most extreme weather, revealed that none other than the Albertan town of High Level reached a bone-chilling -31ºC in the early hours of the morning. Alberta is no stranger to extreme winter weather. Snowfall warnings are currently in effect for the south of the province, and up to 35 cm of snow is predicted over the weekend. WX-Now Other places in Canada also cracked the top 10 coldest spots on Earth today with some wildly cold temperatures. On the list was Fort Nelson, BC, at -28ºC; Hay River, Northwest Territories, at -25ºC; and Chetwynd Airport, BC, at -24ºC. The only spot in the world to out-cold Canada today was Antarctica, which had a jaw-dropping -37ºC overcast with ice crystals at -51ºC. The full list of the world’s chilliest spots can be found here.
court | financing | foreclosure | Real Estate | Realtor
Buying a Foreclosure Home in Canada
If you are interested to have access to all Vancouver Foreclosures MLS® Listings, please click on the “VIP Insider Access” button. In the “Notes” box include the code “Foreclosures” or visit Vancouver Foreclosures and register What You Should Know Foreclosed homes are typically homes put on sale by lenders after the previous buyer defaults on their mortgage. Foreclosures are rare…
