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November 2017 Archives

Shadow lending and real estate transactions in Canada

The word shadow has a dark connotation, but it isn't necessarily a negative when it comes to mortgage lending. Real estate transactions are becoming increasingly more complex in the 21st century and it's getting more difficult for some people in Canada to purchase a home. So, doing business with shadow lenders, or those lending money that are not tied to a conventional financial institution, is on the rise.

Real estate transactions: CMHC focusing on shadow lenders

The Canada Mortgage and Housing Corporation (CMHC) is looking for more information on home loans from shadow lenders or private mortgage lenders. Many purchasers in Canada are resorting to unconventional means to secure mortgages in their real estate transactions. The increased use of these types of lenders hasn't been consistently tracked and CMHC is concerned these loans could cause financial vulnerability.

Alberta residential real estate: Builder goes bust

One of the biggest home developers in Wild Rose Country has closed its doors, leaving many unfinished homes in a neighbourhood outside Calgary. The Alberta residential real estate developer lost a court request recently for the restructuring of its debt and went into receivership to the tune of $64.6 million. Some buyers have already taken possession of the homes that were completed, but are having some issues the builder said it would take care of.

Commercial real estate looking up in Alberta capital

In a recent report, a real estate researcher has indicated that a small increase in office vacancies in Edmonton's downtown core may be promising news for the potential expansion of existing companies. That's good news for commercial real estate in the Alberta capital seeing that the Conference Board of Canada (CBC) is earmarking Edmonton for 17,600 jobs in the business sector come 2021. According to the CBC, that will cut the vacancy rate to about five per cent.

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