16 Dec More Downtown Condos In Montreal?

More Downtown Condos In Montreal?

Do We Really Need More Downtown Condos In Montreal?

Last night, it was announced in Montreal, that the land and building for the old Montreal Children’s Hospital would now be revitalized as a development project for new condos, green spaces and affordable housing. With an over abundance of small condos for sale, we don’t need any more 700 – 800 square foot units in the downtown region. There is an interest to attract more families to live downtown which is fantastic. But, in order to do so, developers need to construct townhouse type of condos that can provide families with much needed SPACE!  Growing families need room to expand and access to parking. Most moms or dads end up shuttling their little ones to school or daycare making safe and affordable places to park essential. Could these townhouses be affordable in price and attainable for families? Building them green would certainly help families with their energy costs and environmental footprint.

Canadian Home Ownership 2017 – The Bank of Canada Sounds The Alarm

Interesting article from the Huffington Post which shows the Bank of Canada Heat Maps show risky debt levels spreading across Canada. With house prices rising faster than incomes for many years now, Canadians have been taking larger and larger loans to afford homes. We are now the most indebted people among G7 countries. Also of note, is a growing number of housing market experts saying that the rapid house price run up seen in Canada, Britain in Australia and parts of the U.S. are happening because of a shortage of the types of homes people want to buy.

Read the article below:

These Heat Maps Show Canadians Piling On Debt At Frightening Pace

The Bank of Canada is really, really worried about house prices and how much debt Canadians have taken on to cover those prices. How do we know? Because the bank won’t stop harping about it. It’s almost as if governor Stephen Poloz is campaigning to get people to stop taking on crazy amounts of mortgage debt.

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