Mandeep Singh  Ghotra PREC*

Mandeep Singh Ghotra PREC*

REALTOR®

Century 21 Coastal Realty Ltd., Brokerage*

Mobile:
778-968-0653
Office:
604-599-4888
Email Me
Mandeep Singh  Ghotra PREC*

Mandeep Singh Ghotra PREC*

REALTOR®

Century 21 Coastal Realty Ltd., Brokerage*

Mobile:
778-968-0653
Office:
604-599-4888
Email Me

Mandeep Singh Ghotra PREC*'s blog

Canadian Employment (August 2022) - September 9, 2022

Canadian Inflation (July 2022) - August 16, 2022

Metro Vancouver's $21-billion transit plan, which includes a gondola to SFU, approved

The plan also includes doubling bus service and adding 450 kilometres of new traffic-separated cycling paths.

Metro Vancouver's Transport 2050 plan — which includes doubling bus service — has been approved.

OSFI takes small step to limit home-equity borrowing

Source-  https://www.theglobeandmail.com/

Canada’s bank regulator plans to better protect the country’s financial system by limiting how much homeowners can borrow against the value of their homes.

The main target for the Office of the Superintendent of Financial Institutions is the popular readvanceable mortgage, or combined loan plan (CLP), in which a traditional mortgage is combined with a line of credit that increases in size as a customer pays down mortgage principal.

Posthaste: Recession coming in next year for Canada and the world, more economists warn If there is a recession, we could be in

Source  - financialpost.com

The drumbeats warning of a coming recession are getting louder and more persistent.

The toll taken by the rising cost of living and tightening financial conditions around the globe are prompting more economists to sharply downgrade their outlooks.

Former Treasury Secretary Lawrence Summers told Bloomberg TV that there’s an increasing risk the recession he expects will start sooner, in 2022.

What You Should Know About the New FINTRAC Measures, Now in Full Force

Key amendments now in full force

Beneficial Ownership

When verifying the identity of an entity, you now have the obligation to obtain beneficial ownership information for that entity. In the case of a corporation, this may involve obtaining the names and addresses of all persons who own or control, directly or indirectly, 25% or more of the corporation.

Bank of Canada Interest Rate Announcement - June 1, 2022

As expected, the Bank of Canada raised its overnight policy rate by 0.5 points to 1.5 per cent. In the statement accompanying the decision, the Bank noted that inflation will likely move higher in the near term before beginning to ease later this year. That inflation is occurring against the backdrop of strong Canadian economic activity, widespread labour shortages and strengthening wage growth. While housing activity is moderating, consumer spending is robust and the Bank judges the Canadian economy is clearly operating in excess demand.

Success of Real Estate Consumer Protection Measures Hinges on Next Steps by BC Government and Real Estate Regulator

Source BCREA - Vancouver, BC – May 30, 2022. After reviewing the BC Financial Services Authority (BCFSA) consumer protection recommendations published on May 26, the British Columbia Real Estate Association (BCREA) urges the Ministry of Finance to carefully consider the next steps prior to implementing any of the measures proposed. 

Canadian Monthly Economic Growth (Q1'2022) - May 31, 2022

The Canadian economy rose 0.7 per cent in March, up for the second consecutive month following a 0.9 per cent increase in February. Goods-producing sectors rose 0.9 per cent while services-producing industries were up 0.6 per cent. Canadian real GDP is roughly 1.8 per cent above its pre-pandemic, February 2020 level. Preliminary estimates suggest that output in the Canadian economy grew 0.2 per cent in April.

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Designation: MBA

Education: University of British Columbia

Specialty: Residential Properties, Development Properties

Area Covered: Surrey, Langley, Richmond, White Rock, Burnaby, New Westminister, Vancouver

Languages Spoken: English, Hindi, Punjabi