Since the implementation of the HST in British Columbia in 2010, the provincial housing market has been reportedly in a slump. This has been especially true in Vancouver and area as new builds are sitting vacant longer than expected.
According to recent reports, construction companies are resorting to making deals with potential buyers, offering to pay a portion of the HST that is being added to properties costing more than $525,000. While this is helping to persuade new home buyers, the builders and developers are ultimately losing money.
Construction companies are frustrated …

In the wake of new mortgage rules being announced March 18, 2011, many home buyers are struggling to keep up with not only the changes but the HST implementation.  Already British Columbia has seen a decline in construction and purchase of new homes as a result of the HST rules, but there may be a continued decline due to the new mortgage rules.
The new rules are said to help stabilize high ratio mortgages as well as the market by decreasing the amount of household debt in Canada.  While these new …

With both the implementation of the Harmonized Sales Tax (HST) and the spring building season drawing near, the real estate market and construction industry just might get the boost they need. While polls show consumers are decidedly against the added tax, with only several months before it takes effect, those looking to purchase or build a new home could have enough incentive to streamline their plans.
With the new tax primarily affecting those who are building houses over $500,000 in Ontario and $525,000 in BC, it is likely that this possible …