http://www.newlocalhome.com/editions/nlhr100527

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Midtown Rising: The Rolston brings new life to Vancouver ›› p.5 Rize Alliance’s latest new home development, The Rolston, will help revitalize Vancouver’s midtown. “The Rolston will serve as a catalyst in this emerging midtown neighbourhood,” says Rize Alliance CEO Will Lin.

Make your home at Marcon’s Cornerstone ›› p.8

May 27, 2010

Housing activity set to stabilize, says CMHC Resale market rebounds ahead of expectation in British Columbia TRICIA LESLIE

worth; they can calculate all assets and subtract all liabilities to get a current snapshot of where they stand financially. Next, they should calculate their current gross-debt service. This means listing all debts, the amount of each payment to service the debt, and the interest rate. Potential homebuyers must also list their current household budget. This includes all

Housing starts rebounded in the second half of 2009 and early 2010 and will stabilize over the next two years, according to Canada Mortgage and Housing Corporation’s second-quarter report. In Metro Vancouver, real estate sales will probably level off in 2010 compared to last year and flatten out in 2011, however, because many new buyers purchased homes in 2009, CMHC says. Following a total of 149,081 units in Canada in 2009, housing starts are expected to be in the range of 166,900 to 199,600 in 2010, with a point forecast of 182,000 units. “Canadian In 2011, housing housing starts will be in the range of 148,600 to markets 208,800 units, with have a point forecast of recovered 179,600 units. “Canadian housing from the markets have recovlow levels ered from the low posted in levels posted in early 2009,” says CMHC early 2009 chief economist Bob ... moving Dugan. forward, “Moving forward, housing starts will housing moderate as activity starts will becomes more in-line moderate” with long-term demographic fundamentals. “New measures for governmentbacked mortgage insurance (introduced by the federal government) that took effect on April 19 will continue to support

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Meridian West Coast Mortgages Inc. Accredited Mortgage Professional Jamie Moi says it’s important to figure out the financial basics before buying a new home. Rob Newell photo

Before buying: financing Prior to buying a home, people must figure out their finances first MAGGIE CALLOWAY So ... you are finally in the market for a new home. Now what? The first thing any potential homebuyers should do is sit down and figure out where they are financially. It is only when the buy-

ers know where they are now that they can understand their next step. Many home purchasers are likely raring to start looking at all the great condos and houses they have seen on the Internet, but the financial figuring is what everything else in the future will depend on. Homebuyers who have done their financial homework will be better prepared, so here’s some tips on how to get started. First, homebuyers should know their net


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