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Condo Market Strong, Inventory Remains Low

Condo Market Strong, Inventory Remains Low

The Greater Toronto Area’s condo market saw record quarterly sales as inventory plummeted in the first quarter, some of it clearly linked to investors looking to profit from units quickly. Urbanation Inc., a condo research firm, said Wednesday there were 9,932 new condo apartments sales across the the GTA over the first 90 days of […]

Deconstructing Ontario’s “Fair Housing Plan”

Deconstructing Ontario’s “Fair Housing Plan”

On Thursday, the Ontario government introduced measures intended to cool the housing market in the Greater Toronto Area. Here’s a breakdown of all 16 and the impact housing market experts believe they will or will not have. 1. A 15-per-cent Non-Resident Speculation Tax (NRST) on the price of homes in the Greater Golden Horseshoe (GGH) […]

What Ontario Should Learn From BC’s Housing Debacle

What Ontario Should Learn From BC’s Housing Debacle

British Columbia realtors report March sales were off almost 22 per cent from a year ago and blame the shortfall on a lack of new supply hitting the market. Across the province, the British Columbia Real Estate Association said Thursday active listings in March dropped 18.1 per cent from a year ago to 25,020 but […]

Market Stats – March 2017

Market Stats – March 2017

Tight Market Conditions Continue in March April 5, 2017 — Toronto Real Estate Board President Larry Cerqua announced that Greater Toronto Area REALTORS® reported 12,077 residential sales through TREB’s MLS® System in March 2017. This result represented a 17.7 per cent increase compared to the 10,260 sales reported in March 2016. For the TREB market […]

Rent Control Is Not The Answer

Rent Control Is Not The Answer

New rent-control rules are “the exact opposite” of what is needed to deal with housing affordability problems in Toronto, Canadian Imperial Bank of Commerce economist Benjamin Tal says. In a new report Tuesday, Mr. Tal urges the Ontario government not to proceed with “alarming” plans to expand rent-control protections, saying the Greater Toronto Area needs […]

Fixing Our Housing Market

Fixing Our Housing Market

With Toronto housing getting harder and harder to afford, governments are under pressure to “do something” – always a dangerous moment. Several ideas are being kicked around, most of them ranging from the dubious to the awful. A tax on foreign buyers has clear political appeal. Housing prices soaring out of control? Blame the Chinese! […]

Tarion Stripped Of Its Regulatory Duties

Tarion Stripped Of Its Regulatory Duties

The Ontario government is stripping Tarion new home warranty corporation of its responsibility to regulate the province’s homebuilders. “Tarion’s multiple roles and responsibilities can give rise to a perception of conflict of interest, and could result in an actual conflict or conflicts of interest,” Government and Consumer Services Minister Tracy MacCharles said Tuesday. “The new […]

Solving Canada’s Housing Enigma

Solving Canada’s Housing Enigma

If Yogi Berra were alive today, he’d probably describe the Toronto housing market like this: Things are so good, they’re bad. And if they get any better, that’ll be worse. In February, the Teranet-National Bank house price index showed prices in Greater Toronto rising 23 per cent over the previous year – or about 21 […]

New CRA Rules For Selling Your Home

New CRA Rules For Selling Your Home

If you sold your home in 2016, you need to let the taxman know as failing to do so could cost you up to $8,000 in penalties. You heard that right. Canadians didn’t used to have to report the sale of the home that was their primary residence, but the Liberal government changed that when […]

It’s A Supply Issue: New Construction Is The Key

It’s A Supply Issue: New Construction Is The Key

Creating a new supply of homes is the key to cooling down Toronto’s red hot real estate market, says the head of Ontario’s Real Estate Association. Tim Hudak, CEO of the group which represents 70,000 brokers and salesmen, is calling on the province to establish a task force to examine the issue of home affordability […]