Some of my clients have been asking me if I have been seeing more foreclosures in our market place. Some have also been curious as to what I think about foreclosures as a vehicle to potentially buy property for less than market value. To better engage in this conversation I feel that it is important…
Several new laws and regulations will be implemented in Canada next month. From a bill that protects shoppers from deceptive marketing practices to expanded dental care, these changes could affect workers, consumers and low-income Canadians. Here are the new laws and rules you can expect in Canada in June 2025. Canadian Dental Care Plan expansion and renewal Jacob Lund/Shutterstock The Canadian Dental Care Plan (CDCP) now accepts applications from eligible people aged 18 to 34. On May 29, the program will expand to include those aged 35 to 54. The program was implemented in 2023 to decrease dental costs for Canadians earning less than $90,000 annually. If you’re already part of the dental care program, don’t forget to renew for the 2025 to 2026 period before June 1 to avoid a possible gap in coverage. To do this, you must have filed your 2024 tax return and received the notice of assessment from the Canada Revenue Agency. Check to see if you qualify for the CDCP. “Anti-scab” law In May last year, the federal government passed Bill C-58, a law that aims to protect unionized workers during strikes or lockouts. Under the legislation, which will take effect on June 20, federal employers won’t be able to use replacement workers, AKA “scabs,” to do the jobs of unionized employees during legal strikes or lockouts. This is an offence punishable by a fine of up to $100,000 per day. The exceptions to this law include needing to use a replacement worker to prevent threats to life, health or safety of the public and prevent serious damage or destruction to their property. However, employers need to offer the opportunity to bargaining unit members first. Law holding businesses more accountable for greenwashing Bill C-59, which kicked in on June 20, 2024, also brought important changes to the Competition Act, specifically when it comes to greenwashing, or misleading consumers about a business’s environmental impacts. According to Canadian law firm BLG, the changes to legislation won’t only make it easier for the Commissioner of Competition to hold companies accountable, but also for private parties like environmental activists and climate advocacy groups. Starting June 20 this year, these groups can bring action against companies for deceptive greenwashing marketing practices before the Competition Tribunal if they can show “public interest.”
Call it a sign of the times? “There are so many listings right now in the Metro Vancouver area that there’s not enough signposts,” Kaitlyn Herbst, realtor with MRKT Real Estate Group said. “The company is actually offering, if we take down the signpost, if it’s already sold property and give them their signpost back so that they can use it for a new client, they will give us money back on our next signpost.” Herbst said in April there were more than 15,000 listings in the Greater Vancouver area. “That’s a lot of signs,” she said. “I mean, condos don’t always have signs and stuff, but buyers, they’re just not showing up. They’re a little bit uncertain with everything that’s going on and kind of taking a little more time to look.” Story continues below advertisement 2:07 Metro Vancouver condos sitting empty amid housing crisis Real estate experts say it has been an interesting start to the year in Greater Vancouver. “What we expected to happen was the market to be a little more active than what we’ve seen so far,” Andrew Lis, director of economics and data analytics at Greater Vancouver Realtors, told Global News. Get breaking National news For news impacting Canada and around the world, sign up for breaking news alerts delivered directly to you when they happen. “Our forecast called for some growth in sales for the year, but sales have come in pretty slow since the beginning of the year.” Lis said it could partially be due to the uncertainty brought about by U.S. President Donald Trump’s tariffs, the political uncertainty around the Canadian election and the federal government’s overall housing strategy plan. “So it could be a number of factors keeping buyers on the sidelines, but things have been sort of quiet on the buy side,” Lis said. Story continues below advertisement “On the sell side, we have a lot of people coming to market with their property. So we’re actually at a point right now where we have some of the highest levels of inventory we’ve seen in almost over a decade. So a really interesting time right now for the market.” Lis said that sales are down about 24 per cent year-over-year. “They’re hanging below our 10-year seasonal averages, you know, around 20, 30 per cent. They’ve kind of been around those levels for some time.” Lis said that the market started to pick up late last year but has been slower in the first part of 2025. “On the inventory side, however, what we’ve seen is a pretty significant increase in inventory levels in our region,” he added. “Our inventory level in the Greater Vancouver region that we track at our board has surpassed the 16,000 mark, which we have not seen in over about a decade.” Trending Now 4:55 New cabinet role puts former Vancouver mayor back in the spotlight Lis said that for buyers, it’s a good thing as there is finally some choice across the board — condos, detached houses and townhouses. Story continues below advertisement However, they have seen more sales of detached homes than attached or apartments. “Generally, price trends have been fairly flat over the past few months and even actually over the last couple of years,” Lis said. “There’s some very small minor ups and downs — a per cent here, up, down a per cent there — but generally the price trend has been flat and that’s been pretty much true across all product types.” Herbst said she has never seen a market like this. “When a couple years ago there was no subjects, you were buying places, sight unseen,” she said. “I had clients buy homes I had never actually seen. Subject free, all that. Now we’ve got, ‘Okay, we’ll come back and see you a second time’.” Herbst said there are even sellers adding incentives to lure in prospective buyers. “There is one home (in Langley) that is for sale that the realtor is offering a Disney Cruise to the buyers of this family home. A four-person Disney cruise,” she said. “It’s not cheap, but it’s a way to make it stand out. It’s a way to get those families through the door. And there’s a lot of options for those buyers. So it’s comparing apples to apples, but this one I get to go on a trip with my family.” © 2025 Global News, a division of Corus Entertainment Inc.
Posted May 21, 2025 8:09 pm. Last Updated May 21, 2025 10:53 pm. When former Vancouver mayor Gregor Robertson made his comment on Canada’s housing market last week, there might have been more truth in it than many of his critics want to admit. “Finally, someone said it out loud, something we all know, but are not supposed to say,” said long-time Vancouver city councillor and urban planner, Gord Price in an interview with 1130NewsRadio. Not even 24 hours into his new role as Minister of Housing, Infrastructure and Communities, Robertson was clipped saying he does not think housing prices need to be lower . But Price is coming to Gregor Robertson’s defence and thinks critics should widen their lens. “I am not sure how much people really want government to be setting the price up or down.” Price said. “Even if they could, they really can not and you would not want them to.” Price explains that it is important to remember that the housing market moves with global trends. And, if government tries to push prices down too hard, they risk setting off a chain reaction that could destabilize the economy. “If you do not like inflation, you are sure not going to like deflation,” Price argued.
Over the next two decades, Canada will witness the largest wealth transfer in history as Baby Boomers pass an estimated $1 trillion to their heirs. This unprecedented shift will do more than just redistribute wealth—it’s poised to reshape the real estate market in profound ways. For investors, it’s both an opportunity and a challenge worth…
Moving out of a family home isn’t just about boxes and moving trucks—it’s about memories, identity, and emotions. Downsizing, especially for seniors, represents a significant life transition. For many, their home is more than a structure; it’s a museum of memories. When it comes time to leave, the process can be deeply emotional. Adult children…
Navigating the Canadian real estate market in 2025 is no simple feat. Whether you’re a first-time buyer or a homeowner preparing to sell, this year presents unique challenges and opportunities shaped by economic recovery, technological advancements, and evolving buyer preferences. Here, we break down the key strategies to help you succeed—from securing financing and leveraging…
Choosing the right price for your home is more than just a number; it’s the single most critical factor that determines whether your home sells quickly or languishes on the market. In today’s competitive and ever-changing real estate landscape, particularly in 2025, getting the price right can mean the difference between success and disappointment. The…
Introduction Real estate is a powerful investment that can grow your wealth over time, and even while you sleep. But for newcomers, the journey to building a portfolio can feel like learning to swim by diving into the deep end. From decoding market trends to managing properties, it’s easy to get overwhelmed. Fortunately, starting your…
So, you’ve finally taken the plunge into real estate, or maybe you’ve been collecting those sweet rental checks for a while. Either way, one question keeps popping up: Should I incorporate my rental property business, or keep it under my personal name? You’ve probably heard stories about big tax savings and bulletproof liability protection—but is…