According to Coast Mountain Roof:


Even the best laid roofs are subject to wear and tear over the years. At some point, you’ll more than likely have to replace the roof of your home. When that time comes, you’ll be faced with the decision of using fiberglass or asphalt (organic) shingles. Being aware of the strengths and weaknesses of each type of roofing option can help you to decide which is the best option for your home.

Organic Asphalt Shingles

Asphalt shingles are known to be quite durable as well as relatively affordable, especially compared with other shingle options. Some types can last up to 20 years. They are essentially made from felt or paper soaked in asphalt. The asphalt-soaked paper is then coated with an additional thick layer of asphalt, then a layer of ceramic granules. Because of this, the shingle is waterproof and withstands weather elements very well.

A coating is essentially created which helps protect the shingle from the sun’s harsh UV rays. They are also algae-resistant, as leachable paint is added and the granules form a surface that resists algae growth and discoloration. However, due to its paper content, asphalt shingles are more prone to fire damage than fiberglass.

 

Fiberglass Shingles

Fiberglass shingles do contain some asphalt, but less of it than organic shingles. Fiberglass shingles feature a mat that is made of wet fiberglass held together with a urea-formaldehyde resin. The mat is soaked with asphalt filled with mineral fillers, which makes it waterproof.

Due to the absence of paper, fiberglass shingles are more fire resistant than organic asphalt shingles. Fiberglass shingles are actually not very ideal for cold climates, as low temperatures can cause fiberglass to become brittle and prone to breaking. In cold climates, organic asphalt shingles are the better option since they are heavier, more substantial and they perform quite well in cold, windy, frigid climates.

Fiberglass shingles also tend to be the better choice for hot climates due to being flame-retardant and heat-resistant. However, shingles made of fiberglass are rich in alkaline substances which can attract algae, making fiberglass proofs prone to having a dirty appearance. Algae buildup tends to reduce the roof’s ability to have a protective effect against the sun’s harsh rays. The result can be a warmer house, which means higher energy costs to keep it cool.

Its good to know that both shingles look the same. They are both made from asphalt and granules. They are even installed the same way too!. The difference is the layer of glass fiber makes the fiberglass shingle absorb less moisture and is more resistant to heat. Its for these reasons that fiberglass shingles increases durability in warm climates.

Overall, asphalt shingles are among the most affordable roofing options. Organic asphalt shingles can cost half of other roofing alternatives.

 

沥青片的屋顶已经为人所熟知,另外有一种玻璃纤维的屋顶却很少人知道,从外形上看,这两种叠加型铺设的屋顶片很难区分出来,但是两者的性能还是有不少差异。在不同天气状况下的表现以及抗青苔的能力也不尽相同。

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The CBC reported that the B.C. government made a number of changes to its proposed speculation tax which will reduce both the number of British Columbians paying the tax and the amount they'll pay.
 
The tax, first announced during February's budget, was to be assessed at 0.5 per cent of a vacant property's assessed value this year and two per cent in 2019.
 
This morning, B.C. Finance Minister Carole James announced the tax would remain at 0.5 per cent for properties owned by B.C. residents but would now only rise to one per cent for out-of-province Canadian residents, and still remain at two per cent for foreign investors.
 
The government also said the tax would no longer apply to properties in the Gulf Islands, Parksville, Qualicum Beach or rural Fraser Valley.
 
The tax will still apply in the following areas:
 
Metro Vancouver, Chilliwack, Abbotsford and Mission (excluding Bowen Island).
The Capital Regional District (excluding the Gulf Islands).
The municipalities of Nanaimo, Lantzville, Kelowna and West Kelowna.
 
The government said a tax credit would make homes worth less than $400,000 exempt for British Columbians only, along with those rented for more than six months of the year.
 

投机税新规


BC财政部长詹家路宣布了新的投机税新规,BC省居民拥有的物业依然维持0。5%,省外居民为1%,外国投资者为2%。 Gulf Islands, Parksville, Qualicum Beach or rural Fraser Valley的物业将不适用此规。
但如下城市适用,
Metro Vancouver, Chilliwack, Abbotsford and Mission (excluding Bowen Island).
The Capital Regional District (excluding the Gulf Islands).
The municipalities of Nanaimo, Lantzville, Kelowna and West Kelowna.
对于物业价值低于40万和有租约且超过6个月的有Tax Credit.

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A local real estate leader questions the effectiveness of new provincial measures designed to cool the housing market.

The provincial government last month announced introduction of two new measures: the expansion of the foreign home buyers tax and the introduction of a new speculation tax.

Concerning the first, the provincial government has hiked the buyers’ tax to 20 per cent from 15 per cent, and extended it into the Capital Regional District, including Saanich, along with other areas (Nanaimo, the Fraser Valley and Central Okanagan).

“I don’t think it is too big of a surprise,” said Kyle Kerr, president of the Victoria Real Estate Board (VREB). “I don’t think it’s going to have a significant impact on our market.”

Foreign buyers account for only five per cent of buyers, and Kerr questions whether the higher tax will help increase the supply of affordable housing. “How does less than five per cent of the market drive the other 95 per cent?” he asked.

Concerning the second, the government plans to introduce a tax on empty properties.

The tax starts at 0.5 per cent of the property assessment this spring, eventually hitting two per cent by the end of 2019.

It applies to individuals (foreign citizens and out-of-province Canadians), who own property in British Columbia but do not pay income tax in the province.

“If you pay income tax in British Columbia you are not captured,” Finance Minister Carole James said last month. “If you’re from outside the province, and you leave your home vacant, you will be taxed.”

(It is not quite as simple. Ministry documents say the “majority of B.C. homeowners” – not all – would receive exemptions from the tax.)

The government has also promised to “help offset” the tax for B.C. residents. This would leave “the bulk” – but not all – “of the tax levied on vacant and short-term rental properties” owned by individuals who do not live in British Columbia.

Some details about the tax remain outstanding.

The provincial government has also not yet defined “vacant” as it applies to holiday properties, which out-of-province owners may use only a few times each year. Finance officials have said that out-of-province owners can avoid the tax if they rent out their properties on a long-term basis rather than through short-term services such as AirBnB.

“If you want to ensure that you don’t pay the tax, you put your house on the rental market and you encourage people to rent it,” James told reporters after a post-budget speech to business owners in Victoria.

The provincial speculation tax has already caused ripples elsewhere, especially in the Okanagan Valley, where Kelowna Mayor Colin Basran has openly criticized the provincial government.

Kerr, citing this criticism, said the province should have consulted with the industry.

While it is not clear how many residences in Greater Victoria would be subject to the speculation tax, the region is attractive with future retirees, who currently live out of town but have already purchased a second home. “There will be a spectrum of the local market that will be affected,” said Kerr.

So what should the province have done?

Kerr said the key to dealing with the current affordability crisis lies on the supply side and he praises some of the other housing measures and adds the speculation tax could generate revenue towards housing measures. This said, it will take time, and the provincial budget lacks measures to help groups who are struggling to find affordable housing right now.

For example, the province could have worked with municipalities to cut red tape, thereby speeding up housing developments, he said. It could have also instituted measures that would have given groups a break on their property transfer tax.

The province, for example, reduces or eliminates the property transfer tax for first-time buyers, with the full exemption kicking in for properties with a fair market value of less than $500,000. Kerr said the provincial government could have adjusted this exemption threshold by region.

“The government can tax specific regions of the province, why not give them a regional tax break?” he said.

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British Columbia is raising its foreign buyers tax and expanding it to areas outside of Vancouver, while bringing in a new levy on speculators, as part of a sweeping plan to improve affordability in the province's overheated housing market.

The New Democrat government unveiled a 30-point housing plan in its first full budget on Tuesday that also increases the property transfer tax and school tax on homes over $3 million, and invests $6 billion in building 114,000 affordable homes over the next decade.

``Our intent is to bring stability to housing prices with these changes and have revenues to invest in building affordable housing,'' said Finance Minister Carole James in a speech to the legislature.

``We recognize these are bold actions. But that's what B.C.'s housing crisis demands.''

The previous Liberal government introduced a 15 per cent tax on homes purchased by foreigners in Metro Vancouver in 2016. Sales slowed for several months before rebounding and prices have continued to rise.

The minority NDP government will increase the tax to 20 per cent and will also apply it to homes in the Fraser Valley, central Okanagan, the Nanaimo Regional District and the Victoria area. The changes take effect Wednesday.

The speculation tax will be introduced this fall. The annual property tax will target foreign and domestic homeowners who do not pay income tax in B.C., including those who leave homes vacant. Satellite families, or households with high foreign incomes that pay little local income tax, will also face the levy.

Exemptions will be available for most principal residences, long-term rental properties and certain special cases, so most homeowners in B.C. won't be affected, James said.

``This tax will penalize people who have been parking their capital in our housing market simply to speculate, driving up prices and removing rental stock,'' she said.

In the 2018 tax year, the rate will be $5 per $1,000 of assessed value. Next year, the rate will rise to $20 per $1,000 of assessed value. It will initially apply to Metro Vancouver, the Fraser Valley, the Victoria area, the Nanaimo Regional District, Kelowna and West Kelowna.

A non-refundable income tax credit will also be introduced to offset the new levy, providing relief for people who do not qualify for an exemption but who pay income taxes in B.C.

Cameron Muir, chief economist at the B.C. Real Estate Association, said the tax could hit B.C. residents who have vacation properties or second homes, as the credit may not be enough to offset it.

It's also unfair to penalize people from other provinces who own vacation homes in B.C., Muir added.

``That's a really big tax increase for Canadians who have done nothing wrong but own recreation property in one of Canada's most amenable climates,'' he said.

Asked whether out-of-province owners of recreation properties in B.C. would be subject to the levy, James said the government was still considering possible exemptions.

The government also moved to close loopholes that allow people to skirt tax laws. It's building a database on pre-sale condo assignments and a beneficial ownership registry that it will share with tax authorities.

The plan also addresses supply through what the government says is the largest investment in housing affordability in B.C. history _ more than $6 billion over 10 years to deliver 114,000 homes. That includes more than 14,000 rental units, 1,750 units for Indigenous people and 2,500 homes for the homeless.

It will increase a grant for elderly renters and expand a program that helps low-income families.

The government said it's working with municipalities to develop new tools, such as rental zoning, and creating a new office to partner with non-profits and developers to build affordable homes.

Green Leader Andrew Weaver, whose three-member caucus struck a deal to support the minority NDP government, said the speculation tax and foreign buyers' tax should be applied province-wide.

``We support these first steps, however, our view is that they're not really as bold as we need to actually deal with the crisis before us,'' he said.

The Opposition Liberals said the New Democrats have forgotten about creating revenue and tabled a budget that relies on taxes to pay for its promises.

Finance critic Tracy Redies doubted the government would be able to reach its affordable-housing goals.

``They said 114,000 housing units. They are coming up woefully short on that,'' she said.

Thom Armstrong, executive director of the Co-op Housing Federation of B.C., applauded the government's plan. Taxes on speculators and foreign buyers will help cool the market, he said.

``Anything that moderates demand in the market and has a dampening influence on prices will help the overall situation that our members and clients face,'' he said.

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Canada remains one of the bright stars in the global real estate market despite a slowdown in 2018.

A new report from Fitch gives Canada a stable/negative rating as low arrears clash with rising house prices which are at risk of declining. It’s forecast for 2018 is for prices to rise 5% (around half of 2017’s increase) and for
mortgage arrears to remain at the 0.3% level of 2017.

However, it warns that Vancouver and Toronto’s price rises make them increasingly vulnerable to a correction.

The report highlights the relative affordability of household debt in recent years due to low interest rates, but notes that this led to tighter mortgage lending rules from OSFI and CMHC.

Fitch is calling for a rise in interest rates of 50 basis points for each of 2018 and 2019 and for mortgage credit growth to be 3% per year.

Despite the rising home prices and highly-leveraged households, Fitch says that the financial infrastructure in Canada is well protected due to mortgage insurance from CMHC.

It sees further lending restrictions to cool demand in overheating markets and also expects foreign ownership rules to have an impact in 2018. 

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Welcome to 5491 Dominion ST Burnaby publice open on Jan 28 2-4PM. Half Duplex, pefect for own use or rent out(up and down could be rent out seperately ), Great value! must see! 

 

本周日公众开放5491 Dominion St本拿比 2点至4点。适合自住或者出租(楼上和楼下可以分开出租)绝佳投资,欢迎莅临

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Surrey may be BC’s “second city” but it is the number one place to invest in the province, according to a new report.

It has topped a list of the 10 towns and cities with the best real estate potential.

Surrey’s proximity to major transportation and trade routes, a six per cent growth in businesses last year, and its relative affordability helped push it to the top of the list.

Don Campbell is a senior analyst with the Real Estate Investment Network, which prepared the report.

“So, we’re looking at population growth, job growth, we’re seeing transportation growth and densification. All of those factors are starting to play into Surrey being the outperformer in the whole region.”

He expects Surrey’s real estate market will outperform the rest of the province for the next five years.

“So, you’re starting to see that the demand for secondary suites, the demand for densification is really occurring as the population is growing both in births and in migration.”

Campbell points to a number of other attributes also working in Surrey’s favour.

“Demographics, economics, transportation, location, and, if you said this in any other province there would be laughter but, affordability.”

Second and third were Abbotsford and New Westminster, respectively.

The complete list, in order:

1. Surrey
2. Abbotsford
3. New Westminster
4. Victoria
5. Kamloops
6. Kelowna
7. Chilliwack
8. The Tri-Cities (Coquitlam, Port Coquitlam and Port Moody),
9. Burnaby
10. Vancouver

 

Surrey 也许是BC省的所谓”第二城市“,但却是新出炉最具投资潜力城市报告上,省内排名第一的城市.

Surrey有便利的交通和道路,去年有6%的商业增长率,它的房屋可负担率也让它变得瞩目。

资深投资分析顾问Don Campbell说:当我们分析一下人口增长,工作增加,以及其他方面,我们不难看出Surrey是一支独秀.,他预期Surrey的地产在今后的五年里会有卓越的表现。

 

排名如下:

1. Surrey
2. Abbotsford
3. New Westminster
4. Victoria
5. Kamloops
6. Kelowna
7. Chilliwack
8. The Tri-Cities (Coquitlam, Port Coquitlam and Port Moody),
9. Burnaby
10. Vancouver

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Businesses in Canada remain bullish about the future, shaking off concerns about U.S. protectionism, rising interest rates and the stronger Canadian dollar, according to the Bank of Canada's fall business outlook survey.

The overall mood has cooled a bit from the summer, but the results still "point to continued positive business sentiment across the country, with business activity becoming entrenched," according to the report released on Monday.

The bank characterized business sentiment as "healthy."

 For some companies, finding enough good people is becoming a significant challenge. The intensity of labour shortages is now at its highest level since the 2008-09 recession, as companies report growing problems finding qualified workers, particularly in tourism, construction and technology.

"Capacity and labour market pressures have intensified over the past year, suggesting that slack is being absorbed amid robust demand," the bank said.

Typical of the challenge is fast-growing technology company SOTI Inc. of Mississauga, which manages mobile communications for governments and businesses in 22 countries. The company is adding workers at roughly 30 per cent a year to keep up with its growing sales, but struggles to find enough qualified software developers, architects and quality-control personnel.

"I've been in human resources for 15 years and this is definitely the most intense it's been," said Michelle Brooks, SOTI's vice-president of global human resources. "The universities are doing a good job of bringing out great tech talent, but the demand is too intense … It's like going to war every day."

 

From the Globe and Mail

 

加拿大银行秋季商业展望报告显示,即使面临美国的贸易保护,利率的增长以及强劲的加元走势,加国的商业依然欣欣向荣,报告同时指出,即使在夏季稍有冷却的情况下,整体预估都是乐观向上的,整体商业状态也是健康的,目前对于很多的商家来说,找到合适的员工变成了一个挑战.目前市场面临着自2008-2009年经济衰退以后最大的劳工短缺,这包括了各行各业:旅游,建筑和科技。

其中典型的例子就是快速增长的位于密西沙加的SOTI Inc技术公司,管理着22个国家政府和商业的Mobile Communication.公司每年以百分之三十的速度增加员工,以应付快速增长,但是依然因为员工不足而困扰。Michelle Brooks说:“我已经在HR工作了15年了,目前真的是(人力)最紧缺的时候,各个大学已经尽力培养和输送人才了,但是需求太旺,每天就像是在打仗。”

节选自The Globe and Mail

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The federal government of Canada has begun cracking down on capital gains taxes, which home owners are only exempt from on the sale of their principal residence.

Laneway homes and rental suites on a property are not exempt from capital gains tax upon the sale of the home, Western Investor editor Frank O’Brien explained to last week’s Real Estate Therapistshow on Roundhouse Radio 98.3FM.

The federal government has introduced a new rule that for the first time requires home owners to declare the sale of their principal residence in their annual income tax return, as of the 2017 tax year. As has been the case for many years, income from rental units – including laneway homes and suites on the property – must also be declared.

This new combination of information will allow the Canada Revenue Agency to see where home sellers are selling a principal residence that has been operating rental suites, leaving the portion of the home that was rented out liable for capital gains tax.

“People have been playing pretty fast and loose with the principal residence exemption on your home… It’s not just foreign buyers, it’s Canadians themselves who have been doing this for years,” said O’Brien.

“The problem now is that there has been rapid price appreciation in places like Metro Vancouver, and increasingly more homes are being allowed on individual lots [and they are required to be rented out or face Empty Homes taxation.]

“If you have a single-family home with two rental suites in the basement and a laneway house, all rented out. Only a third of the house could be said to be the principal residence and the rest is income-producing property and subject to capital gains tax.

“The bottom line is, say you sell the house and it’s worth $3 million. The government says ‘Aha, but $1 million of that property value is not exempt from capital gains.’ … The tax on $1 million, if you’re in the higher tax bracket – which you probably are in this scenario – is $238,500. If you’ve made a $200,000 capital gain, you pay $47,000.”

He added, “So now you have to start thinking, is it worth doing the rentals, because you may lose at the end, if it’s going to be subject to capital gains tax? It could remove these units from the rental pool.”

When asked if this is at odds with the City of Vancouver’s mandate to increase the numbers of basement suites and laneway homes being added to the rental pool, O’Brien agreed.

He said, “This is an indication of how the different levels of government don’t co-operate together on the housing file, with the federal government doing one thing and the province and municipalities doing something else – and the poor homeowner is just trying to follow the rules. But they’re the ones who get blindsided. It’s a great idea to have low-density rentals to help with the mortgages in the most expensive places in Canada – not so great if the homeowner is going to get nailed with huge capital gains tax. And a lot of these are older homeowners who are going to get nailed.”

 

加拿大联邦政府将全面展开追索出租单位和后巷屋的增值税. 屋主出售自用住宅时固然可以减免增值税, 但是同一个物业内的出租部分和后巷屋则不在减免范围内.

从2017 年度起,联邦政府新规定要求在每年报所得税时必须申报出售自用住宅的所得. 也一如往常地,包括套房和后巷屋的出租所得也都必须申报清楚.

这样的申报措施,让加拿大国税局能清楚看到自用住宅是否有部分是用来出租的,从而针对出租部分征收增值税.

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The Bank of Canada is sticking with its trendsetting interest rate of 0.5 per cent, saying uncertainties continue to overshadow the economy's stronger-than-expected start to the year.

In explaining its decision Wednesday to hold the rate, the central bank once again highlighted weak wage growth and the softening rate for underlying inflation as examples the economy still has room for improvement.

The bank's scheduled rate announcement comes after it raised its 2017 growth projection last month following a surprisingly healthy start to the year in areas such as employment, consumer spending and the housing markets. In Wednesday's statement, the bank added better business investment numbers to the list.

"Recent economic data have been encouraging,'' the bank said.

 

"Consumer spending and the housing sector continue to be robust on the back of an improving labour market, and these are becoming more broadly based across regions.''

The bank's statement, however, also predicted that the ``very strong growth'' over the first three months of the year will be followed by some moderation in the second quarter, even though at the same time it expects the U.S. economy to rebound.

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One of Canada’s largest mortgage lenders just imploded, and it may have serious consequences for Toronto real estate.

Home Capital Group, a publicly traded company that engages in non-prime (a.k.a. subprime) lending, saw its stock drop over 60% in a single day.

The reason? They’re facing a liquidity crunch, as their capital for subprime mortgages dried up very quickly.

This could be the start of a broader trend of investors derisking, and it may kill a significant segment of high-leverage buyers.

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