Toronto Real Estate

Toronto Luxury Home Sales Soar Almost 100% In A Year

CP | Alexandra Posadzki, The Canadian Press | Posted 01.11.2017 | Canada Business

Interest rates are low, employment is high.

2016 Was A Record-Breaking Year For Toronto-Area Realtors

CP | The Canadian Press | Posted 01.05.2017 | Canada Business

A strong regional economy, low unemployment, and low borrowing costs kept home sales strong in the GTA, according to the real estate board's president.

How Real Estate Developers Are 'Crafting The Narrative'

Stephen Punwasi | Posted 12.21.2016 | Canada Business
Stephen Punwasi

Special interest groups have always staged PR events to try and gain coverage, but the real estate industry has decided to take a more "proactive" approach. Some members of the industry are turning regular journalism into "commerce journalism," by manipulating coverage in their favour, sometimes engaging in unethical practices.

First-Time Buyers Face Tough Choices As Home Prices Soar

CP | Alexandra Posadzki, The Canadian Press | Posted 12.18.2016 | Canada Business

Would-be buyers are being forced to leave the cities they love.

Can't Afford A Home In Toronto Or Vancouver? Do This Instead.

CP | David Hodges, The Canadian Press | Posted 12.18.2016 | Canada Business

Here are three alternatives to buying a home in a big city.

Toronto's Middle Class Is About To Be Priced Out Of The Condo Market

The Huffington Post Canada | Daniel Tencer | Posted 12.04.2016 | Canada Business

Loosen restrictions and let more homes be built, industry says.

Your Kids Will Never Own A Single-Detached Home

Ben Myers | Posted 11.28.2016 | Canada Business
Ben Myers

My kids want a back yard (and so does my dog), but I don't want to double or triple my mortgage for a piece of grass and a couple extra feet between me and my neighbours. Many have suggested we move farther afield, but I don't want to uproot the family, take my son out of his school and my daughter way from her friends -- that is the dilemma.

42% Of Money In Vancouver Housing Market Has Vanished

The Huffington Post Canada | Daniel Tencer | Posted 11.15.2016 | Canada Business

Meanwhile, Toronto's hot real estate market is spreading out.

Drop Hammer On Real Estate Agents Who Play Both Sides For Profit

Lauren Haw | Posted 11.07.2016 | Canada Business
Lauren Haw

This practice is indicative of agents treating each other unethically, and is harmful to our entire profession. Agents who choose to cut others out for the sake of greater commission aren't just cheating their seller. I see this as a short-sighted race to the bottom, and a practice that harms us all as real estate professionals.

Soaring Prices Can't Stop Toronto's Record-Breaking Home Sales

CP | Alexandra Posadzki | Posted 11.03.2016 | Canada Business

And they happened as new mortgage rules came in.

NIMBYs Should Say 'Yes' To Development In Their Backyard

YPNextHome | Posted 10.25.2016 | Canada Business
YPNextHome

If you're lucky enough to own a small slice of the GTA's pricey property pie, you could find yourself among those vehemently opposed to any new development in their neighbourhood. After all, established Toronto hot spots like The Annex, Bloor West Village and Mount Pleasant are full, right? But here's the problem.

To Millennial Home Buyers: Keep Driving Until You Can Afford It

YPNextHome | Posted 10.12.2016 | Canada Business
YPNextHome

There's an old saying in the real estate industry: Drive until you qualify. Can't afford a home in downtown Toronto? Maybe look a little further from the core -- perhaps Etobicoke, or Mississauga, or Milton, or... Just how far are young home buyers willing to drive?

Toronto Housing Sales Soar While Vancouver's Plummet

CP | David Paddon, The Canadian Press | Posted 10.05.2016 | Canada Business

Extensive condo building in Toronto has brought supply closer to demand, but availability remains tight, an expert said.

Federal Government Totally Misses The Point On New Mortgage Rules

Douglas Hoyes | Posted 10.04.2016 | Canada Business
Douglas Hoyes

Under new mortgage rules just announced by Finance Minister Bill Morneau, all insured mortgage borrowers must now pass a "stress test" proving that they can carry a mortgage at a realistic rate (the Bank of Canada's conventional five-year fixed posted rate), and not simply the "teaser" rate offered for a short period by the mortgage lender.

Feds To Close Tax Loophole Used By Foreign Homebuyers

CP | The Canadian Press | Posted 10.03.2016 | Canada Business

A long-standing exemption allows non-residents to buy homes and later claim a tax exemption on the sales of those properties.

Ontario Landlords Can Legally Kick You Out And Move Right On In

YPNextHome | Posted 09.27.2016 | Canada Living
YPNextHome

It's happening a fair bit: great tenants with no intentions of moving are being served N12 forms by their landlords, a legal notice which provides them with 60 days' notice to vacate the premises. And it's entirely lawful for the landlord to do this, as long as they meet some very specific conditions and act in "good faith."

Ontario Real Estate Groups Oppose Taxing Foreign Homebuyers

CP | The Canadian Press | Posted 09.23.2016 | Canada Business

They say such a "knee-jerk reaction'' could have negative implications for the economy.

You'll Need To Earn This Much To Afford A House In Canada

Workopolis | Posted 09.23.2016 | Canada Business
Workopolis

From foreign buyers gobbling up properties sight unseen to young families trying to raise kids in condo towers, the Canadian housing market is a hot topic of discussion these days. But what do houses really cost these days?

Canada's Housing Market Crisis Is Your Fault

Ben Myers | Posted 09.22.2016 | Canada Business
Ben Myers

The first time I heard the line "you're not stuck in traffic, you are traffic" I immediately liked it. People tend to ignore their participation and impact on a situation and often believe things are happening to them, not because of them. I wanted to explore this concept as it applies to the Canadian real estate, specifically the Vancouver and Toronto metro area housing markets.

Ontario Could Tax Foreign Homebuyers Because 'Everyone Else Is'

The Huffington Post Canada | Jesse Ferreras | Posted 09.19.2016 | Canada Business

"[Ontario] doesn't have a choice."

Home Buyers Pay For Canada's Failure To Stem Foreign Tax Evasion

Stephen Punwasi | Posted 09.19.2016 | Canada Business
Stephen Punwasi

Tax evaders are using homes to bring money from high-tax jurisdictions into Canada. Since they can't just move fat wads of cash without attracting scrutiny, they've come up with several techniques. Using soft assets that don't have fixed trade values (like homes) is one of the easiest ways to do it.

Toronto Real Estate Keeps Soaring As Vancouver Simmers Down

The Huffington Post Canada | Jesse Ferreras | Posted 09.15.2016 | Canada Business

Vancouver gained. But the gains were lower.

Toronto Home Sales Soar In Wake Of B.C.'s Foreign Buyer Tax

CP | The Canadian Press | Posted 09.07.2016 | Canada Business

Prices up more than 17 per cent in a year.

Vancouver And Toronto Housing Markets Headed In Opposite Directions

CP | The Canadian Press | Posted 08.30.2016 | Canada Business

Vancouver softens and Toronto looks to maintain its momentum.

RBC Keeping A Close Eye On Housing In Vancouver, Toronto

CP | Alex Posadzki, The Canadian Press | Posted 08.24.2016 | Canada Business

"The short supply of single-family homes ... coupled with strong demand" is something to watch.