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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 […]

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 […]

Market Stats – February 2017

Market Stats – February 2017

Sales Up and Listings Down in February March 3, 2017 — Toronto Real Estate Board President Larry Cerqua announced that Greater Toronto Area REALTORS® reported 8,014 residential sales through TREB’s MLS® System in February 2017. Despite the fact that February 2016 had one more day due to the leap year day, this result was up […]

Chasing The Canadian Dream

Chasing The Canadian Dream

The mayor of Caledon, a town of about 60,000 northwest of Toronto, says government can try all it wants, but the dream of owning a home will persevere. Allan Thompson should know. His town, like many others that ring around Ontario’s capital, has become a launching site for new communities as people priced out of […]

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 […]

Is Vaughan Ready For A Condo Boom?

Is Vaughan Ready For A Condo Boom?

The CN Tower defines Toronto’s skyline. Roller-coasters define Vaughan’s. For now, anyway. One real estate developer is hoping to build condo towers, stretching 51- and 53-storeys tall, in an area that will soon be the city’s downtown core. Other new buildings are already springing up in the same area — dubbed the Vaughan Metropolitan Centre […]

First-Time Buyers Beware!

First-Time Buyers Beware!

If you’re a first-time homebuyer hoping to live in the big city, beware the government’s new borrower “stress test.” It could relegate you to the ’burbs. The new rule requires all insured borrowers to prove they can afford a payment at the posted five-year fixed rate (which is currently 4.64 per cent). That could kill […]