According to the RE/MAX 2023 Commercial Real Estate Report, some brokers consider commercial to residential conversions as a key strategy in revitalizing the downtown core of key markets from coast to coast. However, others argue that it isn’t a practical solution from an engineering or financial perspective. Meanwhile, socio-economic problems colliding with business centers may have devastating...
Market Trends
Bank of Canada Interest Rate Announcement: Up 50 Basis Points on October 26 in Sixth Consecutive Increase The Bank of Canada has announced a 50-basis-point increase to its trendsetting interest rate, bringing its target for the overnight rate up to 3.75 per cent. The year started with the bank rate at 0.25 per cent, following a trio of rate cuts in the early days of the pandemic, intended to...