Yes, thanks to insane prices and eroding affordability in Toronto, Hamilton - just 60 kilometres away - has been quietly building a reputation of its own as an up-and-coming real estate market.
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When the Fort McMurray and surrounding community was left reeling from the recent wildfire disaster, it wasn't just Alberta communities, governments and the Canadian Red Cross that pitched in to help out. The home building industry in the province also stepped up to lend a helping hand.
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Already testing affordability limits, higher new home prices could be among the unintended consequences of the provincial government's announcement on May 10 that it is proposing changes to four provincial plans that shape how land is used in the Greater Golden Horseshoe -- Canada's fastest-growing urban region, the province's economic engine and the home of the Greenbelt.
Although city planning is well-intentioned it can add costs and complications to residential development. These complications often culminate in months, or even years, of waiting for city hall's approval -- if these delays cause the supply of new homes to lag behind demand, new housing may become scarce, driving prices higher across the region by creating a perpetual seller's market.
It's not a new concept for builders to offer incentives in the form of upgrades to potential buyers. However, I've been astounded by other incentives that have recently popped up in the Toronto real estate market. For example, Kylemore Communities has been offering $35,000 towards any new BMW, with a purchase of one of their specific condo developments.
OTTAWA - The New Housing Price Index rose 0.1 per cent in July after a 0.3 per cent advance in June.Statistics Canada reports the metropolitan region of Toronto and Oshawa was the top contributor to t...