Mindblown: a blog about philosophy.

Easter is a Christian holiday that celebrates the belief in the resurrection of Jesus Christ.However, according to many theologians, Easter originally began before the arrival of Christianity.It is believed that Easter is named after the Anglo-Saxon goddess of the dawn and spring, known as Eostre.Examples of Easter traditions include Easter eggs and related games such…

Home sales surged by nearly 30%, reaching 3,979 transactions in January 2024. Average home price rose over 10% to $957,909 compared to the previous year.

Canada is facing a housing crisis with a shortage of family-sized homes. The Task Force for Housing and Climate recommended removing unit maximums on residential housing to increase supply. However, this move may lead to the construction of smaller, more profitable units instead of family-sized homes, repeating past mistakes in the condo market. Proceeding without…

Due to inflation and rising interest rates, the mortgage interest cost index has surged by 44% since January 2021. The Bank of Canada's key rate has increased from 0.25% to 5%, leading to higher mortgage rates. It is now recommended to consider a 5-year variable rate mortgage as interest rates may have peaked. Continue to…

British Columbia Real Estate Association released its 2024 First Quarter Housing Forecast Update last month. Decline in mortgage rates and potential Bank of Canada rate cuts expected to revitalize housing market in 2024.

The New Westminster Tenants Union suggests altering provisions in the Residential Tenancy Act to prevent most no-fault evictions in British Columbia. They propose that landlords with two or more units cannot evict tenants without cause, aiming to protect renters from bad faith evictions and increase consumer rights. Continue to full article

Advocate proposes higher taxes on house-wealthy to address housing crisis. The proposal aims to cut income taxes for low-to-middle-income earners.

The Bank of Canada is expected to maintain its key interest rate at 5% due to weakening economic conditions. The Canadian economy grew at 1% in the fourth quarter, driven by global factors, but real GDP per capita continued to fall. The labor market remains strong, but inflation has decreased to 2.9%. The central bank…

Consumers in Ontario and British Columbia are struggling with missed payments on mortgages and credit cards due to higher interest rates and inflation. Mortgage delinquency rates have soared in these provinces, surpassing pre-pandemic levels. Financially stressed homeowners, especially younger ones, are facing challenges in making payments, with mortgage renewals leading to payment shocks. Total consumer…

Homeowners in specific BC areas with residential properties must declare their usage by March 31st. Who to declare: – Anyone owning property in areas subject to the tax, even if exempt. Purpose: – Combat housing speculation and increase available homes.