Toronto real estate market news & info
Is foreign ownership of real estate in Canada “destroying our cities and way of life,” as a new online petition claims, or is the impact minimal, accounting for less than four per cent of condo apartments in Vancouver and Toronto, for example, as the latest survey by Canada Mortgage and Housing Corp. (CMHC) indicates? Most… Read More
You know the saying about your eyes being bigger than your stomach when you order a giant meal at a restaurant and then only eat a fraction? When it comes to DIY, your eyes can be bigger than your skill. Or your balance. Or your finesse. Paint your room or pull up your carpet or… Read More
No doubt about it, recent headlines about household debt, rising mortgage interest rates and high house prices in Toronto and Vancouver are scary. The Bank of Canada says that about 720,000 households are vulnerable to financial collapse because they have a debt-to-gross-income ratio of more than 350 per cent. It says these households tend to… Read More
Last year ended on a very strong note, with prices 10% higher than last December, and with the inventory of unsold homes remaining at an ultra-low level, under 2 months’ supply. There were just under 5,000 sales in December, the second best year on record. For the year as a whole, prices were 10% higher… Read More
The new minimum down payment rules come into effect on February 15, 2016, and will affect homebuyers who: are buying a home in the $500,000-$1,000,000 price range; and wish to make the minimum down payment possible. For homes up to $500,000 there is no change – the minimum down payment with an insured mortgage is… Read More
