Hello, everyone. Happy labour day.
I provide you with Canada’s news headlines for real estate news for today.
Douglas Todd: Three million people snap up Canada’s 10-year visas
According to Vancouver Sun,
The global appetite for Canada’s new 10-year visas appears insatiable, especially in China.
More than three million people from countries with which Canada has long had travel restrictions have obtained the 10-year, multiple-entry visas since the program began in 2014.
With almost half the 10-year visas being handed out in Mainland China, where Prime Minister Justin Trudeau’s government this year opened seven new visa offices, the province of B.C., more than anywhere in Canada, has experienced a surge of visitors.
The detail is here.
Douglas Todd: Immigrants could prosper in Canada’s small towns
According to Vancouver Sun,
Nine of 10 immigrants who come to B.C. choose to live in its southwest coast metropolis. The 2016 census shows the city of Vancouver is the most densely populated municipality in the country.
Canadian statisticians call the country’s large and medium cities are “sinkholes,” since almost everyone drains into them.
The sink-hole effect exerts intense pressure on housing and rental costs, transit, higher education, traffic congestion, noise and social services in large cities.
While big cities grow because of migration, the opposite is happening to small cities, such as Quesnel, B.C., St. John’s, New Brunswick and Timmins, Ontario.
The detail is here.
Big banks post better-than-expected quarter, but all eyes on BoC interest rates
According to CP24,
The country’s biggest five banks had a better-than-expected combined third-quarter profit of $10.15 billion helped by a strong economy, but a potential interest rate hike from the Bank of Canada could add pressure to their consumer lending books, financial analysts suggest.
The detail is here.
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Jethro Seymour, Toronto Real Estate Broker, Looking For Best Midtown Toronto Real Estate Listings? Contact Me!
Also published on Medium.
