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According to various forecasts, Toronto is poised to be the hottest real estate market of 2017 -- and it's well on its way to scorching, if January numbers are any indication. According to the Toront...
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On one hand, sellers and listing agents are loving this flurry of fruitful activity. They are obtaining record-setting prices for homes in record-setting times. Prospective homeowners hoping to buy, however, are faced with largely stressful, emotional experiences in which many end up empty-handed.
5 Canadian housing markets show strong evidence of "problematic conditions."
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Interest rates are low, employment is high.
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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.
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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.
Would-be buyers are being forced to leave the cities they love.
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Here are three alternatives to buying a home in a big city.
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Loosen restrictions and let more homes be built, industry says.
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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.
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Meanwhile, Toronto's hot real estate market is spreading out.
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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.
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And they happened as new mortgage rules came in.
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.