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The rules will tackle the affordability problem buyers and renters are facing.
The average sales price of a home in Canada reached $548,517 in March, up 8.2 per cent in a year.
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The province's finance minister fears speculators are crowding out actual homebuyers in southern Ontario.
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By the time the public realizes it's a bubble, it's already over.
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"A little bit of air has been let out of the bubble."
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But Toronto's party is about to end, Ontario's fiscal watchdog warns.
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“It will be incredibly tough to attract talented folks ... if they will struggle to buy a home and yet still pay taxes of over 50 per cent."
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The last time a bubble burst in Toronto, prices fell for seven years.
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"Toronto and any city that is remotely within commuting distance are overheating, and perhaps dangerously so."
Toronto home sales caught fire in the first half of May, but at this frenzied pace, homeowners better hope that fire doesn’t burn everything down. The latest numbers from the Toronto Real Estate Board...
Toronto’s condo construction boom has made the city “North America’s new high-rise metropolis,” says a study from a real estate research group that shows the city has more than twice as many high-rise...