November 2016 | issue 131

Whether you’re part of the home building industry or one looking to buy a home, this Halloween might be enough to scare you. The new mortgage rules holds some scary thoughts for the industry even as it comes to grips with the long economic slowdown.

Ottawa’s new mortgage rules may just throw another monkey wrench in the works. Normally, home buyers only need to qualify based on the interest rate for the term of the mortgages they are applying for. But as of October 17, the new mortgage requirements says anyone applying for an insured mortgage must pass a “stress test” to prove they can make payments if rates increase to 4.64 per cent — the current rate for posted five-year mortgages.

Mortgage brokers say it means fewer financing options for home buyers and may delay home sales, especially for those who have already been approved for a mortgage.

How do you like them apples?

But we always look for the silver lining in New Home Living. And the good news is there are small signs that the Calgary housing industry will snap out of its slump next year. That’s what Marty Hope says in his chat with Allan Klassen, the first chairman of the new board of directors for the CHBA – UDI Calgary Region Association. Check out the article on Hope at Large on page 46.

We can say that renowned land developer Dream Developments is confident of this upturn, as they launch their home building arm — Homes by Dream — in their community of EvansRidge. The new, decidedly contemporary designs of the homes brings a stylish exclamation point to this newly established northwest community.

Paired show homes from Cardel Homes and Mattamy Homes’ Vintage show home in Southwinds in Airdrie, round out our parade of show home profiles this month. They’re both worth your while to check out if just to see the design ideas they offer. We also take a tour of Symons Gate, Brookfield Residential’s astounding boutique community in the northwest that has grown by leaps and bounds since the last time I toured it last year.

We also have first-time contributor Mel Ladner talking about Calgary’s spooky past and it sounds like awesome Halloween fun.

There’s also David Crosson and Kathy McCormick giving us the lowdown on kitchen style — David doing the work on establishing the aesthetic appeal, and Kathy showing us the kinds of cookware now available.

This year may have been not the best year for growth in Calgary’s home industry, but what it does prove is the resilience of our home builders, and indeed, the whole city in rolling with the economic blows that have come its way.

In This Issue

Enter,Homes by Dream

Enter,Homes by Dream

EvansRidge has been a massive success, and as the northwest community approaches its final phase,…

Read more about Enter,Homes by Dream

Cooking essentials

Cooking essentials

Pots and pans are some of the most used items in a home — and…

Read more about Cooking essentials

Historic hauntings

Historic hauntings

Hauntings and history are connected. Ghost stories are far more common in cities and towns…

Read more about Historic hauntings

Pair of aces

Pair of aces

Right-sizing has never been so stylish as Cardel Homes introduces their line of paired homes…

Read more about Pair of aces


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