Author: homegoal.ca

Canadian Parliament is floating longer mortgages as a housing fix—but does it actually improve affordability? An update from the Parliamentary Budget Officer (PBO) finds that stretching amortizations from 25 to 40 years lowers monthly payments, but borrowers end up paying 75% more in interest. The non-partisan agency also warns the analysis doesn’t account for broader consequences—ones that outweigh short-term benefits and undermine long-term housing and economic stability.  PBO: 40-Year Mortgages Lower Payments—But Cost 75% More In Interest The PBO’s housing update follows a request from lawmakers on whether 40-year amortizations improve housing affordability. In this context, affordability means the maximum…

One of the biggest challenges new real estate agents face has nothing to do with selling homes. It’s learning how to run their career like a business that creates difficulties. Most agents focus so heavily on finding clients and getting deals done that they neglect the financial structure that keeps their business alive. In an industry where income arrives in large but unpredictable amounts, financial accountability isn’t optional. It’s essential. And the earlier agents understand this, the smoother their first few years will be.  Treat Your Career Like a Business From Day One A common mistake I see is agents…

When participants in the Cambodia Challenge for Shelter signed up to take part in the Royal LePage® Shelter Foundation™’s 2025 fundraising trek, they knew they’d be tested. That’s the point, afterall – to step outside your comfort zone, to do something big, bold and brave. To see what you’re made of when circumstances get challenging. And challenged they were. The struggles in the Cambodian wilderness came quickly and harshly for the 117 adventurous Royal LePage® professionals who travelled across the globe to participate. Trekkers departed for five grueling days of hiking after a blessing by local monks. Photo credit WENU…

Former iPro Realty Ltd. agent Nayaki Penumarthy says the impacts of the $10-million trust account scandal that came to the surface in August has left scars on her and her family. The Burlington-based Realtor said she’s owed $170,000 in sales commissions, which has affected her ability to pay her bills, and even resulted in her being in the hospital with anxiety and stress.  “It’s devastating, to say the least,” she told Real Estate Magazine. “It has put me in a very bad emotional state.” Penumarthy, now an agent with Royal LePage, is one of hundreds of Ontario agents who for…

Each Wednesday, Real Estate Magazine shares insights, experiences and advice from top-performing teams and agents across Canada. If you’d like to contribute or nominate a colleague or team, send us an email.    Taylor Hack entered real estate after years as a mortgage specialist, where he watched families make life-changing decisions with far too little guidance. Wanting to raise the bar, he shifted into real estate and became one of Edmonton’s most recognized team leaders. Today, he’s known not just for results, but for the systems, mentorship and intention behind them.   REM: How did you first get into real…

Canadian new home prices have largely resisted a correction, but they may be ready to give in. Statistics Canada’s (StatCan) New Housing Price Index (NHPI) shows an unusually sharp drop in October—the largest since 2009. But the bigger story is buried in the data: a rare shift in the relationship between land and house prices that’s only happened once in the past 50 years. Spoiler: It wasn’t bullish the last time it happened.  Canadian New Home Prices See Biggest Drop Since 2009  Canadian New Housing Price Index. Source: StatCan; Better Dwelling.  Canada’s NHPI marked its seventh straight monthly decline last…

Canadians are anxious about the economic future, but a growing number still have a new home on their 2026 wishlist. According to Re/Max Canada’s 2026 Housing Market Outlook, 10 per cent of Canadians plan to buy a home in the next 12 months, and half of them are first-time buyers. Re/Max expects home sales will increase by 3.4 per cent next year.  This is in spite of tariffs and a sluggish job market, which have put a damper on consumer sentiment this year. According to the report, which is based on a Leger survey, more than half of Canadians feel…

Transit access has long been one of the biggest drivers of Canadian real estate value, but does that always make sense? Statistics Canada (StatCan) data shows public transit revenues have recovered to 2019 levels, but ridership hasn’t. Most experts dismiss this as a temporary dip that will resolve in the near future. However, what they’re missing is how soaring home prices have destabilized core transit users—just as the country nears the end of a long-wave cycle that could leave this premium misaligned for years. How Access To Transit Influences Canadian Real Estate Values If location, location, location is the biggest…

The federal minimum wage has remained unchanged since 2009, when it was last raised from $6.55 to $7.25. Globally, the U.S. ranks 23rd in terms of its minimum wage purchasing power, falling behind countries like Poland, South Korea, Spain, and Canada.  But while wages have remained stagnant, rent prices have not. As a result, full-time minimum wage earners struggle to afford even basic living expenses. In many cases, workers will overextend their budgets to cover rent, leaving little room for other necessities such as groceries, health insurance, and transportation.  While the Raise the Wage Act of 2025 proposes raising the…

(photo: sourced image of Kelowna)   Developers in British Columbia are offering steep discounts as new inventory keeps stacking up, fuelling competition for buyers who can afford to shop around.  In Kelowna, Mission Group had a one-day flash sale on Saturday on all vacant inventory at its Alma on Abbott development, a boutique lakefront community located in Pandosy Village that was completed in October. Mission Group president Luke Turri said half of Alma’s 87 units – ranging from studios to three-bedrooms – need to be sold. With the discount, one- and two-bedroom units will be roughly $425,000 to $505,000. “We…