When you hear about communal or cohousing communities, do you automatically think of a commune inhabited by a bunch of pot smoking hippies wasting the days away while their bare bottomed kids play carefree in a field? Do you think of an anti-establishment community filled with citizens trying to avoid society at any cost? Well think again!
While there are still communes that resemble the stereotype mentioned above, there is a newer version of the cohousing concept that is becoming more and more popular. Residents of these communities are average work-a-day people who share a common desire to live a life that is centered on social interaction, diversity, and environmental sustainability.
The basic principle behind the cohousing, or intentional community…
Mortgage rates are climbing for Canadian home owners but experts say that we are very unlikely to have a foreclosure wave like the one that has been taking place in the United States.
Previous mortgage levels were low enough that many Canadians bought into a housing market that they can barely afford now; increased rates have resulted in many home owners paying more than 40% of their monthly income into keeping a roof over their heads, reducing the amount of money that they can spend on savings, health, and nutrition.
What has worked in the past to get more Canadians into home ownership—like low interest rates and small required down payments—has also worked to cause problems for many of those home owners now that interest rates have risen. Our modern…
Statistics released by the Calgary Real Estate Board indicates that the Calgary housing market showed a decline in May of 2010.
Sales of single family homes in Calgary have decreased by a 20 per cent over the same time a year ago in May. Condominium transactions have seen a decrease of 21 per cent compared to twelve months ago in the Calgary real estate market.
Diane Scott, president of the Calgary Real Estate Board has said that – “The first quarter of 2010 was exceptionally strong with our spring sales coming early in the wake of anticipated mortgage hikes. We believe there are a number of factors contributing to this marked slowdown including a declining number of first-time homebuyers in the market, a rise in monthly carrying costs as mortgage rates rise…
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The Bank of Canada increased their key lending rate by 0.25 percent to 0.5 percent. This is the first time they raised rates in nearly 3 years. Banks therefore are expected to raise their prime rates to 2.50%.
The Bank of Canada's key lending rate held strong at 0.25% for 13 months, since April 2009.
The Bank of Canada increased their rate to re-establish normal functioning of the overnight market.
"The spillover into Canada from events in Europe has been limited to a modest fall in commodity prices and some tightening of financial conditions."
"Acitvity in Canada is unfolding largely as expected. The economy grew by a robust 6.1% in the first quarter, led by housing and consumer spending. Employment growth has resumed."