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New statistics released by the Toronto Real Estate Board once again confirm everyone didn't just wake up to a shortage of land overnight.
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It's just a "stress test," not a prediction.
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They'll hurt resales. They'll only wound prices.
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Prospective homebuyers in Toronto -- get used to one thing: ever-increasing prices. Either that or move further out in the GTA. Or rent. These are the limited options -- and unfortunate unintended consequences -- caused by government policy and market forces in the Toronto area.
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And guess which city tops the world.
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Housing activity in Toronto and Vancouver continues to skew the Canadian home sales picture, as these two markets experience characteristics that are very different from the rest of the country.
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OTTAWA — Statistics Canada says its new housing price index gained 0.7 per cent in May, its largest monthly increase since July 2007. The agency says the rise was mainly driven by higher new housing p...
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It's bad news for prospective buyers. It could be bad for the market, too.
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With so much of the attention focused on Victoria's tent city and Vancouver's skyrocketing home prices in the housing debate, one group is left hollering, "Hey, what about us?" That group is all of the Province's renters, and it's a group worth listening to.
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Buying a home can be an overwhelming experience. From figuring out your budget to deciding what neighborhood works best for you and your family, the considerations are endless.
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Strong historic home price growth might be an expected result, given that real estate is a proven performer over the long term. But looking at price growth in these four-year windows from now to 1984 shows some pretty staggering appreciation.
The Liberal Party promised to "undertake a review of escalating home prices in high-priced markets -- like Vancouver and Toronto -- to determine whether speculation is driving up the cost of housing, and survey the policy tools that could keep home ownership within reach for more Canadians." But this may be one of the first promises to fall by the wayside.
Outside of Toronto and Vancouver, things are pretty flat in the housing market.
It's become a national pastime to fret about the expense of buying a home in certain Canadian cities. But there are a few cities where buying one won't quite break the bank, as it will in other places...