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February 2019 - Posts

How couples can save for a downpayment and stop arguing about money
According to a poll by the Bank of Montreal, 68 percent of Canadian couples surveyed cited fighting over money as a top reason for divorce, ahead of infidelity. Buying a home together only raises the stakes — bank accounts are merged, couples are Read More...
Home sales show massive growth in several key Ontario housing markets in January
An encouraging pickup in home sales in Toronto last month paled in comparison to massive increases observed elsewhere in southern Ontario and the rest of the province. As Toronto home sales increased a steady 3.7 percent in January compared to the previous Read More...
Canadian home sales beat expectations in January
Home sales in Canada bounced back this January, leading an economist with one of the nation’s biggest banks to say the performance was “a bit better than expected” before predicting a year of stability for the national market. The comments Read More...
Waterfront Toronto officials to face grilling in Ottawa over Sidewalk Labs plans
Two senior Waterfront Toronto members will be grilled in Ottawa on Thursday over concerns about whether the controversial Sidewalk Labs smart city project is really what Toronto needs. Meg Davis, chief development officer for Waterfront Toronto, and Kristina Read More...
A first-time homebuyer’s guide to building a healthy credit history for homeownership
Spotty credit card payments might not seem like a big deal when you’re first starting out, but that banking boomerang will hit you hard when it comes back around during that first home purchase. If you have an icky credit history, or outstanding Read More...
More Torontonians plan to buy homes in 2019 despite tougher mortgage rules and higher interest rates
A new survey suggests more and more Torontonians are considering buying a home at a time when a flurry of factors, including rising interest rates and tougher mortgage rules, are creating higher hurdles to ownership. Some 29 percent of respondents to Read More...
After aggressive 2018, Bank of Canada will take it easy on interest rate hikes this year
The unexpectedly weak Canadian housing market is one factor making it likely Bank of Canada Governor Stephen Poloz will take a less aggressive approach to interest rates this year, notes an economist with one of the country’s biggest banks. “The Read More...
This Canadian market has the second-fastest price growth in NA
Home prices in Surrey, BC have been rising fast over the past five years and the pace of growth has been second only to Detroit according to a new report on North American home prices. Point2 Homes says that prices in the city have been boosted by population Read More...
CBRE's 2019 Market
Source: CBRE 2019 Canadian Market Outlook – Toronto Read More...
9 tips for buying profitable investment condos in Toronto
Real estate is not a one-size-fits-all strategy. Pierre Carapetian, a top 1 percent agent in Toronto and an avid real estate investor himself, shares what we should know about buying an investment property in Toronto. Here are his tips to profitable purchases. Read More...
First-time buyer FOMO: 3 tips to keep you going when home-buying stress hits hard
Shannon Stach and her fiancé recently put an offer in on a great Toronto home, one they could envision settling down and raising a family in. They lost the bid by a mere $2,500. “We were shocked,” she says. “That was our first Read More...
Concerns about overvalued Canadian homes abating as job prospects, employment improve
If snarky comments about a Toronto “shack” listed for $2.5 million are any sign, there’s no shortage of Canadians who feel real estate is way overvalued in big cities — but federal analysts are now showing less concern about out-of-whack Read More...
2018 could have been the hottest year on record for Canadian home sales (if not for this policy change)
The Canadian housing market had a rough year in 2018: sales dropped by 11 percent while the 4.1 percent decline in average price was the worst performance seen since 1995. But it didn’t have to be that way, suggests the Canadian Real Estate Association Read More...
Toronto home prices to creep close to 2017 all-time highs this year
The Toronto housing market is poised to nearly reach peaks reached in 2017, the hottest year on record for residential real estate in Canada’s biggest city. This sums up the year-end forecast from the Toronto Real Estate Board (TREB). The board Read More...
December 2018 GTA New Home Sales Recap
There were 940 total new home sales in December 2018, with 136 Low Rise sales, down -5% from December 2017 (down -78% from 10yr avg) and 804 High Rise sales, down -1% from December 2017 (down -33% from 10yr avg). The New Home Benchmark Price tracks the Read More...
Multifamily building permits hit a record high in December
The total value of building permits issued by Canadian municipalities was up 6% (month-over-month) in December to $8.8 billion, with multifamily and commercial intentions taking the lead. Statistics Canada says that the multifamily sector was up 11.1% Read More...
Canadian Shopping Malls Are Beating The Pants Off U.S. Ones
Here’s a bit of a surprise: The busiest shopping centre in North America isn’t in New York or L.A., as one might expect. It’s in Toronto — the iconic Eaton Centre. That’s just one tidbit of information from the Retail Council Read More...
Credit by text message offered by TransUnion
TransUnion has launched a new solution to enable lenders to offer a fully digital lending experience by SMS text message. As part of its Mobile Offers Now product, users can walk through the borrowing process entirely with text messages thanks to verified Read More...
City of Toronto wants to buy Hearn waterfront site
The City of Toronto wants to buy the 16-hectare (40-acre) Hearn site from Studios of America, which bought it last fall from provincially owned Ontario Power Generation in a controversial $16-million deal. City council voted 20-2 on Thursday to direct Read More...
Immigrants prefer single-detached homes less than local buyers
Immigrants are not as enticed by single-detached residences as their Canadian-born counterparts, fresh numbers from Statistics Canada indicated. From 2016 to 2017, immigrants accounted for 46% of Toronto’s population total, and 41% that of Vancouver. Read More...
Toronto new-build home sales plummet to a 20-year low
Ottawa should lengthen mortgage amortization periods to 30 years and reconsider the strict stress tests introduced last year, the home building industry says. The recommendations by the Building Industry and Land Development Association (BILD) comes as Read More...
Toronto new home sales plunge to lowest in almost 20 years as unsold condos pile up
New home buyers finally reached their limit in Toronto last year. After years of frenzied price increases, sales of new homes in Canada’s biggest city sunk to the lowest in almost two decades in 2018 and the supply of unsold condos piled up, according Read More...
Ontario may let realtors tell homebuyers the price of other bids
TORONTO — Ontario is considering allowing realtors to tell prospective home buyers the prices of other offers in bidding wars. The government launched a consultation Thursday looking at the Real Estate and Business Brokers Act, and that’s Read More...
Toronto city council approves affordable housing plan
City council has voted in favour of a plan to make 11 surplus parcels of land available for the development of affordable housing despite criticism from some councillors who say the initiative doesn’t go far enough. In a 21-4 vote on Wednesday afternoon, Read More...
New map charts Toronto home and condo prices by TTC station
Looking for a pad within walking distance of Toronto's subway system? Good call. You'll get around the city a lot cheaper and faster than you would by taking a car—you just may have to pay a bit more for your home upfront. Real estate brokerage Read More...
Here’s How Much Real Estate Agents Earn In Every State
Despite overall economic prosperity in recent years, one area that has remained sluggish is homebuying. According to the National Association of Realtors, December existing home sales declined 6.4% from November — the weakest month for existing Read More...
Buying a House? Odds Are Rising You Have a Six-Figure Income
As the U.S. grapples with a housing affordability crisis, a new analysis by Zillow shows 38 percent of homebuyers earned more than $100,000 in 2017. That’s up 8 percentage points from 2012 and reflects the fact that home values have risen at a much Read More...
A year after Sears, the mall is not dead
At a time when they were already suffering from Target’s failed Canadian expansion and the seemingly unstoppable growth of online shopping, the loss of the once-mighty Sears chain felt like yet another body blow for shopping malls in this country. Read More...
Landlords face parking challenges with the rise of electric cars
Icing isn’t just something that happens in winter storms or hockey games. It’s the term used when internal combustion engine (ICE) cars park in spaces reserved for charging electric vehicles, thus “icing” out their environmentally Read More...
Toronto households have to save for 102 months to afford a downpayment on a home
On the shoulders of higher interest rates, Canadian housing affordability continued to worsen in the closing quarter of 2018, according to National Bank’s Housing Affordability Monitor. To measure housing affordability each quarter in 10 major markets, Read More...
Ford wants to build Ontario out of its housing crisis
Ontario Premier Doug Ford is pushing to eliminate housing shortages in Canada’s largest province, as policy makers seek to deflate pricey markets in places like Toronto without triggering a correction. Ford’s housing minister, Steve Clark, Read More...
Canada considers applying mortgage stress test rules to private lenders, sources say
TORONTO — Canada is considering subjecting private lenders to the same mortgage stress test rules faced by banks to prevent housing markets from being destabilized by the lenders’ rapid growth, three sources with direct knowledge of the matter Read More...
Why cash flow doesn’t matter
Although it may seem counterintuitive, cash flow is not the be all and end all of investing in real estate. “Everyone has such a cash flow mindset, and don’t get me wrong, cash flow is amazing and will help support a different lifestyle eventually, Read More...
Rental market braces for influx of tenants
Rising interest rates and strict mortgage qualification resulted in fewer Canadians seeking homeownership than rental accommodations last year, and 2019 will bring more of the same. “It’s going to continue,” said Marcus & Millichap’s Read More...
Doug Ford’s fix for Toronto's housing crisis is easy: Just build more homes
Ford's housing minister, Steve Clark, began consultations this month on proposed reforms that would give local governments more control over their own housing mix to unlock supply and attract investment. In a background document released in November, Read More...