Toronto Real Estate

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.

What You Need To Know To Successfully Flip A House

The Huffington Post Canada | Posted 08.30.2016 | Canada Business

"You have to be prepared to risk in order to have great reward."

Here's How Much Less Your Home Is Worth Without Parking

The Huffington Post Canada | Posted 08.21.2016 | Canada Business

"Parking is always an issue, especially if you're trying to sell a family home."

You're Making A Mistake If You Think Your Home Will Sell Itself

The Huffington Post Canada | Posted 08.18.2016 | Canada Business

There's a difference between selling and selling well.

Millennials, Don't Be Duped Into Thinking Property Equals Wealth

Garth Turner | Posted 08.16.2016 | Canada Business
Garth Turner

The fact Firecracker and Wanderer have eschewed real estate in favour of an early idleness, and are actually of Asian (!) heritage, has turned a lot of newsroom cranks. After saving madly, living on air and investing their 500 grand (with me), these guys ended up claiming to be the nation's youngest retired millionaires. My callers? Not so much. The liquid assets among 35-year-olds who have been working for seven or eight years is breathtaking. There aren't any. Instead, all the cash has gone into lifestyle, a soul-sucking condo or repaying student debt. The kids basically have no idea what an RRSP is, or an ETF, and equate a TFSA with a high-interest savings account at the bank.

Foreign Buyer Tax Will Make Government Rich, But Won't Fix Housing

Ike Awgu | Posted 08.11.2016 | Canada Business
Ike Awgu

The government of B.C.'s decision to impose a 15 per cent hike in Land Transfer Taxes for foreigners who buy real estate in metro Vancouver will do almost nothing to lower high housing prices. It will, however, generate even more money for a government that has already profited enormously from foreign nationals.

Canadians Have Named The Coolest Communities In The Country

YPNextHome | Posted 08.03.2016 | Canada Living
YPNextHome

Every city has its hotspot -- the coolest community, the hippest 'hood. It's the place where the stylemakers go, where the trendsetters do their thing. It's about knowing where to go, where to be seen.