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CMHC Statsistics for 2010


Sronger Housing Market Projected for 2010 
 
Recent statistics posted by Canada Mortgage and Housing Corporation (CMHC) suggest demand for both new and existing homes will pick up as the BC and Canadian economies record stronger growth.  According to CMHC's Housing Market Outlook
 
Housing starts in BC will increase during the next four years from the moderate levels of 2009 and 2010.
 
In Kelowna, existing home prices are expected to edge back up as demand improves and the supply of listings is drawn down.  
 
Moderately priced homes will remain the focus of new singles demand in 2010.  Builders are targeting buyers seeking new detached homes in the $450,000 to $550,000 price range.
 
Apartment rental construction will account for the lion's share of multi-family starts in 2009 and the first half of 2010.
 
Stronger employment growth in combination with competitive prices, a good supply of listings and low interest rates will attract more buyers for existing homes next year.  
 
To view the complete CMHC Housing Market Outlook, click here.

 


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New Info


Copied from C.B.C. News site dated  January 31, 2009 January 31, 2009

B.C to become first province to license home inspectors

British Columbia will become the first province to license home inspectors, Solicitor General John van Dongen says.

Home inspector training in B.C. has been voluntary until now, but proper qualifications and licensing will be mandatory starting March 31.

There are an estimated 300 to 400 home inspectors operating in the province, and homebuyers have no way of knowing if their home inspector is qualified.

"The current voluntary system has left the door open to sometimes untrained, unqualified and inexperienced individuals to practise their own version of home inspection," van Dongen said Friday.

To become licensed, home inspectors will need to meet the qualifications of: the B.C. branch of the Canadian Association of Home & Property Inspectors; or the Applied Science Technologists and Technicians of British Columbia; or the National Certification Program for Home & Property Inspectors.

Qualifying for a licence will involve completing examinations and field experience required by those organizations.

Insurance required

Home inspectors will also need to carry insurance and will be subject to a criminal record check.

The Business Practices and Consumer Protection Authority will enforce the licensing and respond to consumer complaints.

Home inspectors failing to comply with the new licensing could face penalties as high as $5,000.

The president of the B.C. chapter of the Canadian Association for Home & Property Inspectors called the announcement a triumph for homebuyers.

"This has been a long time in coming and [we] have led this fight for seven years," Owen Dickie said.

"We are delighted that the government has embraced our recommended approach and, today, B.C. consumers are the winners."

However, the president of the Consumer Advocacy and Support for Homeowners Society said he is not confident the move will eliminate poor inspections.

"I don't see how minister van Dongen can possibly claim that this licensing will strengthen the quality of home inspections," John Grasty said.

"There are basically no standards required to be met and a subjective opinion does not, in my mind, improve homeowner protection."

The qualifications vary among the three organizations responsible, he said, and it's unlikely anything will change unless a single set of quality standards is introduced and enforced.

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