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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 […]

What’s Driving Toronto Real Estate Market?

What’s Driving Toronto Real Estate Market?

When Vancouver slammed the door on foreign buyers last year there was a great deal of concern that they would simply shift their attention east to another overheated market: Toronto. But a new study suggests Ottawa’s new tougher mortgage rules will have a bigger impact on the Toronto market. New research by Ipsos Public Affairs […]

Pay Down Your Mortgage Or Invest?

Pay Down Your Mortgage Or Invest?

With home values rising by 20 per cent or more each year in the sizzling markets of Vancouver and Toronto, the unprecedented returns are outstripping even risky investments. In 1996 the average price of a Vancouver-area home was $288,300; in 2016 it’s $879,600. In the Greater Toronto Area, in 1996 it was $198,150 and now […]

Mortgage Insurance Premiums Set To Rise

Mortgage Insurance Premiums Set To Rise

Canada’s federal housing agency is hiking the cost of mortgage loan insurance for homebuyers starting March 17, as part of new regulatory requirements requiring it to hold more capital to offset risks in the country’s red-hot real estate market. Canada Mortgage and Housing Corp. said Tuesday it doesn’t anticipate the increases will have a major […]

Pleas To City Hall To Make Home Ownership More Attainable

Pleas To City Hall To Make Home Ownership More Attainable

Toronto’s budget subcommittee got an earful at Toronto City Hall Tuesday as members of the public, union leaders and business associations lined up to give their input into Toronto’s operating budget. The hearings into the 2017 operating and capital budgets have been going on in civic centres around Toronto for nearly a week, but on […]

Airbnb: To Snitch Or Not Snitch?

Airbnb: To Snitch Or Not Snitch?

Shawn Micallef: It took me a while to realize my neighbour was running an Airbnb across the hall in my rental building. It’s a slow thing to notice. There are longer hellos and goodbyes at the door, suggestions to go to the ROM, and one morning three guys came out with an empty case of […]

Ontario Courts: Condos Can Ban Airbnb’s

Ontario Courts: Condos Can Ban Airbnb’s

In a ruling that could have wider implications, an Ontario court has said that condominium corporations have the authority to ban unit owners from renting out their properties on services such as Airbnb or Expedia. In a 14-page decision released Thursday, Justice Robert Beaudoin of the Ontario Superior Court ruled that the owners of an […]

Toronto Convicts First Airbnb Owner

Toronto Convicts First Airbnb Owner

The company that owns a Willowdale house that was the scene of a shooting earlier this year has pleaded guilty to a single zoning bylaw violation. This is the first conviction for the city’s municipal and licensing department in the booming area of short-term vacation rentals such as Airbnb and VRBO. To date, only one […]