BENGALURU (Reuters) – The sharp acceleration in Canadian home prices shows no sign of abating this year, though economists expect the pace will be reined in by high household debt and a growing lack of affordability, a Reuters poll found. As the chart—which is indexed to 1998, as far back as the Teranet-National Bank house price index goes—reveals, though U.S. housing prices have climbed back from the lows of the subprime mortgage crisis in some cities, only San Francisco, home to booming Silicon Valley, has kept pace with Toronto’s house prices—and no U.S. city comes close to Vancouver’s real estate craze.
Flooded with natural light and air (while carefully respecting the building’s heritage) Canada’s new cultural and diplomatic London HQ has been designed to reflect Canada in the 21st century: a vast country rich in natural resources and – evidently – talented designers and artists.
It’s kind life or death to keep our working families here,” said Peter Kilpatrick, the project manager in refitting the houses to be imported by the San Juan Community HomeTrust When the rewiring, painting and structural repairs are finished in June, buyers who have already met income and residency requirements can take possession.
As the world’s largest exporter of wood, Canada House naturally, features quite a bit of it. From the red oak floors, to the beetle-beautified pine in the Pacific Room, to the brand new hemlock-clad Queen Elizabeth Atrium, a veritable forest offsets the grandeur of Canadian marble and granite.
But the structures had what builders call good bones, and the group, the San Juan Community HomeTrust, discovered that the cost of transporting them across the Haro Strait from Canada and restoring them here was comparable to the cost of building from scratch.