In some places there's no good explanation for why the rent is too damn high.
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While many industries have been disrupted by technology and the integration of social media in daily life, the real estate industry has been transformed.
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It's not easy to top global lists of "best places to live" while making headlines for real-estate growth. There are many amazing neighbourhoods for millennials to live in Canada, and here we explore some of the most popular choices.
2016 was a monstrous year for Canadian real estate, and it's hard to imagine what the effects of another record-setting year will have on the red hot rental market. To put things in perspective, the CREA Home Price Index jumped from 184 to 208.9 by the end of last year. The total number of home sales increased by 6.3 per cent year-over-year and anyone who tried to buy a home or condo is fully aware of what these figures meant for the price of homes.
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Homes are generally much more expensive in Canada than the U.S. these days.
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Many companies have thrived through innovation by leveraging the global connections. The crucial question is, if companies become so successful that they start to impact local economies, job markets, real estate prices, etc., should government intervene with regulation or let free markets reign?
With over 90 per cent of renters and home-buyers starting their research and property search online, realtors, property managements firms and REIT's are now spending most of their marketing budgets on digital and web-based advertising tools and features which provide for an increased return on investment (ROI).
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Give up and move somewhere else, already.
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If you can't picture what that looks like, a quick drive down the Gardiner Expressway will make it very clear. Interest rates are low, renter demand is high and investors are looking for alternate income streams. These combined factors create the perfect condition for purpose-built housing projects to thrive.
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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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Choosing which university to attend is a major life decision. Beyond the personal and academic realm, your choice will have financial implications as well. Aside from tuition and student loans, the city and neighbourhood of the school will affect your level of student debt, so it's wise to prepare and do your research.
The Canada Mortgage and Housing Corporation recently stated that real estate markets in the top cities to live in Canada are currently overvalued. In October of 2015 their Housing Market Assessment listed Toronto, Vancouver, Montreal and Edmonton as examples of cities where buying a home can be very risky.
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...
Ontario provincial highlights from CMHC's Rental Market Report show that despite there being less options to do so, more people are choosing to stay in a rental situation for longer periods. With sky-high prices, ongoing employment instability, and plain confusion over the real estate market, it seems that for many, renting is generally a safer and more feasible option than buying a home in 2015.