Business
Where home prices have decreased the most in Canada
The average price of a home in Canada fell to $612,204 in January, based on data released by the Canadian Real Estate Association (CREA) on Wednesday. This represents a decrease of 18.3 per cent compared to the same time last year, and is a far cry from the record-high average of $816,720 in February last year.
The number of people buying and selling properties also dropped in January, which saw the fewest home sales for the month since 2009. Compared to the same time last year, home sales in January this year have decreased by 37.1 per cent. These figures are not seasonally adjusted and represent an aggregate of all residential property types.
“The big question on everyone’s minds after last year was what will housing markets do in 2023?” said CREA chair Jill Oudil in a press release published on Wednesday. “We may have to wait another month or two to see what buyers are planning this year since new listings are currently trickling out at near-record low levels.”
Rising interest rates over the last year have led to increases in mortgage rates, which have ultimately resulted in a slower housing market. The Bank of Canada’s most recent interest rate announcement involved a hike of 0.25 per cent on Jan. 25.
While most MLS systems included in the CREA’s monthly report saw a drop in average home prices, not all regions are seeing the same level of decline. Major markets, such as the Greater Toronto and Vancouver areas, saw the average price of a home fall 16.4 and 8.4 per cent year-over-year, respectively.
However, smaller markets situated just outside of these major hubs, such as Fraser Valley in British Columbia and London, Ont., are seeing steep annual declines of 27.4 and 25.3 per cent respectively. According to experts, these regions, which reported some of the largest price increases in Canada during the COVID-19 pandemic, are likely to see the most significant price corrections in 2023.
CTVNews.ca has compiled a list of Canadian real estate markets reporting some of the largest declines in average home prices year-over-year. Scroll down to see homes that are currently on sale in these markets.
FRASER VALLEY
(John Corrie, Re/Max Little Oak Realty)
Type: House
Price: $949,000
Year Built: 1980
Property Size: 164.16 sq. m
Lot Size: 712.29 sq. m
Price Decline: 27.4 per cent year-over-year
This three-bedroom, three-bathroom home is located in Abbotsford, B.C., in the province’s Fraser Valley region. On the main floor, high-vaulted ceilings cover the open-concept living area, which is connected to the dining room and kitchen. In the backyard is a large patio with room for dining or recreation, as well as a cabin that can serve as a hobby room or art studio.
LONDON AND ST. THOMAS
(Visionary Visuals / Robert Kasowski, Open Door Property, Re/Max Escarpment Realty)
Type: House
Price: $624,900
Year Built: 1925
Property Size: 125.42 sq. m
Lot Size: 505.86 sq. m
Price Decline: 25.3 per cent year-over-year
Situated in London, Ont., this bungalow has four bedrooms and two bathrooms, all of which have been recently updated. The home also features a galley kitchen and combined living and dining area. A detached garage sits in the backyard, along with a tiered deck that can be accessed from the kitchen and main bedroom.
NIAGARA REGION
(Tom Elgersma, Encore Photography / Elizabeth Pullman, Engel & Volkers Niagara)
Type: Condo townhouse
Price: $685,000
Year Built: 2006
Property Size: 150.97 sq. m
Lot Size: N/A
Price Decline: 25 per cent year-over-year
Built in 2006, this two-bedroom, three-bathroom condo townhouse in Niagara Falls, Ont., has a fully renovated basement, complete with a family room and kitchenette. On the main level is the primary bedroom, an eat-in kitchen and home office, along with cathedral ceilings that hang over the living room. On the upper level is the second bedroom and a sitting area overlooking the living room.
REGINA
(John Morrell, Panoptic Canada / Kyle Knapp, Platinum Realty Specialists)
Type: Apartment
Price: $344,900
Year Built: 2005
Property Size: 117.8 sq. m
Lot Size: N/A
Price Decline: 13.6 per cent year-over-year
Spanning nearly 118 square metres, this twelfth-floor apartment features two bedrooms and two bathrooms, along with an open-concept living and dining area. Recent upgrades include the addition of hardwood and tile flooring throughout the unit, including the kitchen, which also has oak cabinets, granite countertops and a wine fridge. Located in downtown Regina, the apartment is situated near restaurants, cafes and Victoria Park.
VICTORIA
(Matthew James Photo / Lindsay Block-Glass, Royal LePage Coast Capital Realty – Oak Bay)
Type: Condo townhouse
Price: $950,000
Year Built: 2017
Property Size: 159.24 sq. m
Lot Size: 178.28 sq. m
Price Decline: 10.1 per cent year-over-year
At the entrance of this condo townhouse in Victoria, B.C., is a den that can double as a mudroom. Also on the main level is a bedroom and four-piece bathroom. In addition to the remaining two bedrooms and bathrooms is a combined living, dining and kitchen area. The home is a short drive away from the University of Victoria, and within walking distance of public transportation and other amenities.
EDMONTON
(Peter Kubiczek, Keystone Realty)
Type: Apartment
Price: $398,500
Year Built: 1930
Property Size: 106.15sq. m
Lot Size: N/A
Price Decline: 6.7 per cent year-over-year
This Edmonton apartment is located in the city’s historical Phillips Lofts building, first constructed in 1913. The unit has an open-concept floorplan and features exposed lumber beams and pillars, as well as black steel hardware. Throughout the apartment is the unit’s original brick interior finishing, along with maple hardwood floors.
SAINT JOHN, N.B.
(James Walsh, Rod Stears Photography / Shirley Roach-Albert, Sutton Group Aurora Realty)
Type: House
Price: $289,900
Year Built: 1953
Property Size: 171.87 sq. m
Lot Size: 0.4 hectares
Price Decline: 6.6 per cent year-over-year
With nearly 172 square metres of living space, this home in Saint John, N.B., has three bedrooms and two bathrooms. The living room on the main floor features hardwood flooring, a fireplace and built-in bookshelves. Also on the main floor is the kitchen, which offers access to a large deck in the backyard. The main bedroom on the upper floor features a soaker jet tub and a skylight.
MONTREAL
(Albert Gravel / Milène Houle, Engel & Volkers Tremblant)
Type: Apartment
Price: $499,000
Year Built: 2005
Property Size: 59.2 sq. m
Lot Size: N/A
Price Decline: 5.8 per cent year-over-year
Situated in downtown Montreal, this 60-square-metre apartment has one bedroom and one bathroom, with nine-foot ceilings throughout. The unit also has a combined kitchen and living area, as well as its own stacked washer and dryer. The building is located near various supermarkets, health-care clinics and restaurants.
WINNIPEG
(Jim Todd Real Estate Photography / Marianne Krieger, Coldwell Banker Preferred Real Estate)
Type: Condo townhouse
Price: $389,900
Year Built: 1986
Property Size: 136.75 sq. m
Lot Size: N/A
Price Decline: 5.7 per cent year-over-year
This two-storey condo townhouse in Winnipeg has seen numerous upgrades over the last few years, including updated windows, doors and lighting. In the living room is hardwood flooring and a wood-burning fireplace. Meanwhile, the renovated kitchen has new custom cabinetry, a glass backsplash and quartz countertops. Rounding out the rest of the home are two bathrooms and two bedrooms.
HALIFAX-DARTMOUTH
(Studio Royale / Joel Flewelling, Royal LePage Atlantic)
Type: Apartment
Price: $499,999
Year Built: 1987
Property Size: 113.71 sq. m
Lot Size: N/A
Price Decline: 3.7 per cent year-over-year
With nearly 114 square metres of space, this Halifax, N.S., apartment includes three bedrooms and two bathrooms. One of the bedrooms sits on the main floor, along with the living, kitchen and dining areas. On the upper level are the two remaining bedrooms, one of which features its own private patio.
Business
Amazon rejects plea to stop selling taxi roof signs as cab scam spreads across Canada
After a long day at a work event in July, Kathryn Kozody was relieved when she spotted a car with a lit-up taxi sign.
She thought it was odd when the driver told her she’d have to pay her fare with a debit card. Still, a tired Kozody hopped in the car.
“I was like, ‘Fine, it’s kind of weird, but let’s go home,'” said Kozody, who lives in Calgary.
Nothing else seemed off — until the next day when she discovered that almost $2,000 was missing from her bank account. On top of that, her debit card had someone else’s name on it.
Kozody concluded that the taxi driver was a fraudster who, during the debit card transaction, recorded her PIN, stole her card and handed her back a fake.
“I started freaking out,” she said. “It’s terrifying when they have your debit card.”
It took Kozody about two weeks to get her money back from her bank, and she’s still rattled by the experience.
“It really felt like an invasion of privacy and a violation to be a victim of this scam,” she said. “I really don’t want it to happen to anybody else.”
The taxi scam isn’t new; Toronto and Montreal have been seeing it for years. But the crime is becoming more widespread.
This summer, police in Calgary, Edmonton and at least five cities in southern Ontario, including Kingston and Ottawa, posted warnings online that they had received multiple reports of the scam.
Police and the Canadian Taxi Association say the fraudsters have a helping hand: with the click of a button, they can purchase a generic — but official looking — taxi roof sign on e-commerce sites like Amazon.
The taxi association has asked Amazon, by far Canada’s most popular online shopping site, to stop making the roof signs so easily available.
“They do have a moral responsibility to at least sell the signs to individuals that are properly licensed,” said association president Marc André Way.
However, the U.S.-based company continues to sell the product to all customers.
“These lights are legal to sell in Canada,” Amazon told CBC News in an email.
‘Eye-popping’ numbers
The taxi scam has several variations but typically ends the same way: the victim pays with a debit card, then the scammer secretly steals it and hands the victim a similar but fake card. Shortly thereafter, money disappears from the victim’s account.
Ron Hansen, deputy chief of police in Sarnia, Ont., said his department received 12 reports of the scam in July, with one victim losing $9,900.
Toronto police report that since June 2023 the department has received 919 reports of the taxi scam, totalling $1.7 million in losses.
The numbers are “eye-popping,” said Toronto police detective David Coffey.
“When they do get a victim, they are quick to go right into the bank accounts. They’re quick to empty them out.”
Jessica Chin King of Toronto said just 15 minutes after a recent cab ride, she got a suspicious activity alert from her bank. Turns out, $600 had been withdrawn from her account.
“I was like, ‘Wow, I can’t believe that just happened.’ I was in shock,” said Chin King, whose bank later reimbursed the cash.
She said she too was fooled by the taxi sign atop the car.
“I was in the car with somebody who wasn’t a taxi driver. Anything could have happened,” she said. “I was thankful that it was only my bank [account] that was compromised.”
Taxi light for $35 on Amazon
CBC News bought a taxi sign from Amazon for $35. It has a magnetic strip on the bottom, so it easily sticks to the top of a car.
To power the light, an attached wire can be run through the driver’s window and plugged into the car’s auxiliary power outlet, also known as the cigarette lighter outlet.
The taxi association says licensed taxi drivers typically get their roof signs from speciality suppliers, and they are hardwired to the car — not powered via the cigarette lighter.
“When you see that … it’s obvious that it’s not a legitimate taxi,” said Way, the association president.
Last month, Way sent Amazon a letter on behalf of the Canadian Taxi Association, asking it to stop selling the product.
“This is not a safe, practical way to distribute the trusted ‘Taxi’ signs,” he wrote.
But Amazon told Way — and CBC News — the signs will remain on its site, because the company isn’t breaking any rules.
“It’s going to be quite difficult, I think, for anyone to stop Amazon from selling a product that is perfectly legal to sell,” said Toronto criminal lawyer, Daniel Goldbloom. “It’s true that these taxi signs can be used to commit scams, but kitchen knives can be used to commit murder — and we don’t stop retailers from selling those.”
But Way isn’t giving up hope.
He says the taxi association also plans to ask other online retailers, such as Temu and eBay, to stop selling the taxi signs and will lobby provincial governments for legislation that regulates the sale of the product.
However, Coffey said he believes the best way to fight the taxi scam is to educate people about it.
“Never, never give another person control of your debit card,” the detective said.
Victims Chin King and Kozody also want to spread the word.
“The more people know, the less likely it is to happen again to somebody else,” Kozody said.
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Business
You Can Minimize the Odds of Being Ghosted
When job seekers complain about being ghosted—a form of silent rejection where candidates hear nothing after submitting an application or having been interviewed—I wonder if they’re unaware of the changes in social norms and mannerisms. Do they not know that social norms and the workplace are intertwined? Since the advent of social media, manners, courtesy, and empathy have significantly diminished.
If there’s one thing job seekers can be certain about, they’ll be ghosted multiple times throughout their job search. It wouldn’t be a stretch to say ghosting candidates has become a norm. It’s worth pointing out that companies don’t ghost candidates; the company’s employees ghost candidates. When the recruiter or hiring manager is of a generation that finds ghosting an acceptable way to terminate a relationship, romantic or otherwise, it shouldn’t come as a surprise when they ghost candidates.
Bad News: You can’t change or control other people’s behaviour.
Good News: You can take proactive steps to minimize—as with all human interactions, there are no guarantees—the chances of being ghosted.
Build a strong relationship. Focus on being likeable.
Understandably, hiring managers—recruiters less so since they won’t be working with the candidate—look to hire candidates they can envision getting along with; hence, most job seekers would significantly boost their chance of job search success by focusing more on being likable.
By likable, I mean being pleasant, respectful, and expressing genuine interest in the company and the role. I’ve yet to meet a hiring manager who hires candidates they don’t like. As I’ve mentioned in previous columns, likeability supersedes your skills and experience. Most job seekers don’t focus enough on being likeable.
The stronger the relationship (read: bond) you establish with the recruiter or hiring manager, the more likely they won’t ghost you. From your first interaction, focus on creating a rapport beyond just transactional communication.
Personalizing your correspondence can make a significant difference. Use the hiring manager’s name instead of a generic ‘To Whom It May Concern.’ Find commonalities such as place of birth, hobbies, schools attended, associations you belong to, favourite restaurants, and people you know.
Avoid appearing confrontational.
Anyone reading this can relate to the number one reason why people ghost: to avoid confrontation. Today, many people feel entitled, resulting in job seekers being frustrated and angry. You only need to scroll through LinkedIn posts and comments to see that bashing employers has become an unproductive trend. Hence, it’s likely that a candidate will become confrontational if told they don’t get the job.
Smile throughout your interview! Avoid appearing desperate! My best interviews have been those in which I was nonchalant; I was indifferent to whether or not I got the job. In addition to being a turn-off, showing signs of desperation will raise questions about how you’ll react if told you don’t get hired.
Lastly, tell your interviewer how much you enjoyed talking with them and that you look forward to hearing back.
- “I really enjoyed our conversation, Khloe. Thank you for taking the time to meet with me. I look forward to hearing your hiring decision.”
- “Either way, please call or email me to let me know about my application status.”
You’re more likely to receive a response by asking explicitly for communication.
Earn your interviewer’s respect.
People tend not to ghost someone they respect.
Respect must be earned, starting with one of life’s golden rules: Treat others how you want to be treated. In other words, give respect to get respect.
Throughout your job search, be professional and courteous. Respond promptly to emails and calls and thank people for their time. Approaching recruiters and hiring managers politely and professionally improves your chances of being treated similarly.
Ask for advice, not feedback.
Asking for advice encourages communication. As your interviewer is wrapping up the interview, mention that you’d welcome their advice. “Given your extensive background in project management, any advice you may have for me wanting to advance my career would be greatly appreciated.”
Why ask for advice and not feedback? The first problem with asking for feedback is it puts the other person on the spot. The second problem is feedback can lead to disagreement, hurt feelings, or defensiveness, a common reaction resulting in confrontation. On the other hand, asking for advice is asking for guidance and suggestions to achieve a better result. Essentially, you’re acknowledging the other person’s experience and massaging their ego. Do you know anyone who doesn’t like being asked for advice?
Send a thank you note.
Sending a thank you note expressing appreciation for the interview and the insights you gained reinforces your interest and keeps the lines of communication open. Conclude with a forward-looking statement, encouraging the recipient to respond.
- “I look forward to hearing from you regarding the next steps.”
- “I look forward to staying in touch.”
Job searching aside, direct, open, and honest communication—say what you mean, mean what you say—which I highly value, has become rare, which explains the prevalence of ghosting. When you’re ghosted, assume the company isn’t enthusiastic about hiring you. Silence may be golden in some things, but ghosting is not one of them.
_____________________________________________________________________
Nick Kossovan, a well-seasoned veteran of the corporate landscape, offers “unsweetened” job search advice. You can send Nick your questions to artoffindingwork@gmail.com.
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