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Thirty-six is the new 30 for first-time home buyers in Canada -- meaning that the average age of current home buyers is 36, while the majority of current home owners bought their place before they were 30. Considering that millennials are typically 25 to 34 years old, many are left asking the question: are millennials buying homes?
Regardless, Finance Minister Bill Morneau seems optimistic.
And it's NOT foreign investment.
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Toronto house prices jump 12% in a year.
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In the midst of the busiest month of the year in real estate, the Canadian housing market shows no signs of cooling down anytime soon, pushing buyers to think twice about their next move. Many assume that their best bet is to steer clear of the hot market, but that isn't necessarily a smart move.
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It's big in Toronto, too.
In the spirit of the NCAA March Madness basketball tournament, YPNextHome put together our own bracket of championship housing markets across Canada. It's East versus West, as city market takes on city market to determine the eventual Canadian slam-dunk champion.
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Black originally said house was too big, but now he's staying.
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Sales in February rose 21.1 per cent over last year.
Bjarke Ingels Group
The realtor says the Greater Toronto Area will lead the $1-million-plus residential real estate market, with continued sales gains and price escalation.
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Bjarke Ingels' architecture has a track record of winning awards.
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"Progress" has been replaced by "housing crisis." Many neighbourhoods, municipalities and even metro areas have experienced annual double-digit house price inflation over the past decade, forcing many middle-income individuals and households to make tough choices about where they want to live.
The Loonie is the lowest it has been in 15 years, a barrel of gas is trading for less than $30 -- compare these factors against the rising U.S. greenback and you get one gloomy economic forecast. However, there is one section of our economy that seems to be unaffected, as real estate is showing little signs of slowing down.
Average selling price for all properties headed for $665,000.
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"Demand for ownership housing is expected to remain very strong in 2016."
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The Liberal Party promised to "undertake a review of escalating home prices in high-priced markets -- like Vancouver and Toronto -- to determine whether speculation is driving up the cost of housing, and survey the policy tools that could keep home ownership within reach for more Canadians." But this may be one of the first promises to fall by the wayside.
High price-to-rent and price-to-income ratios don't signal overvaluation, an overabundance of property speculation, or impending doom. Perhaps they actually signal the ascension of Toronto and Vancouver into the highest of global ranks.
People in Vancouver, Toronto could feel the brunt of the new rules
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Say hello to my little place!
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Warnings of a housing correction are not new, but the frequency has increased. A couple of southwestern Ontario markets (most notably Toronto) and the Vancouver metro area are pricing out first-time buyers. In other major centres across Canada, the flatness or slowing of house price appreciation has dissuaded potential buyers from jumping in.
New condo prices haven’t grown in a year Low-rise home prices turned downward in August Lack of supply the main factor, BILD says Sales of new single-family homes and condos in Greater Toronto fell...
The three-bedroom, two-bathroom house tilts off to one side.
Trolleybus Urban Development
Global migration trends are changing demographics on a large scale, so if we do not employ the right political safeguards right now, many middle-class Canadians may find themselves unable to equally co-exist with wealthy newcomers.
This is how some Toronto homeowners respond to the onset of density.
"The supply of homes for sale today in the region is not meeting the demand we're seeing from home buyers."
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Renters are far more likely to break condo rules regarding noise and upkeep of the common amenities, resulting in the degradation of the complex. A complex that is heavily rented out becomes stigmatized as apartment building, unappealing to potential buyers.
But the home remains unfinished.