A recent report from Capital Economics highlights falling rents in Canadian cities, especially Toronto and Vancouver, and points out that this could have a significant knock-on effect on Canadian house prices. The report identifies several reasons why rents are falling: The surge in unemployment due to COVID-19 lockdowns has hit low-wage earners the hardest,… Read More
Book Your Free Birthday Panda Visit!
May 25, 2020 By Leave a Comment
Social distancing rules have pretty much eliminated the traditional birthday party celebration for kids — but if you live in the High Park, Bloor West, Junction, Swansea or Roncesvalles area, you can book a free visit from the Birthday Panda to bring some joy to your child’s special day! Click here to view a clip… Read More
No Nosedive Ahead for Canadian Real Estate Prices: RE/MAX
May 15, 2020 By Leave a Comment
Canadian real estate kicked off 2020 with a bang, but there are conflicting opinions as to how we’ll finish out the year. Canada’s federal housing agency has warned that average house prices could fall by up to 18 per cent over the next 12 months – a dismal prediction that’s being challenged by RE/MAX based on market… Read More
Coronavirus Infects Toronto Rental Market
May 3, 2020 By Leave a Comment
We have only limited data so far, but already it is clear that the number of MLS rental transactions in the GTA has plummeted by about 50% since the COVID-19 restrictions were imposed just over a month ago. There were approximately 2,500 MLS rental transactions per month in January, February and March, but only about 1,300… Read More
Coronavirus Threatens Survival of Toronto Small Businesses
April 25, 2020 By Leave a Comment
The Broadview-Danforth Business Improvement Association (on behalf of dozens of Toronto BIAs) recently surveyed 561 small business tenants and 137 landlords across the city as to how the Coronavirus lockdown has affected them. A majority of the respondents (61%) said that they would not survive over the next 3 months without rent relief, and 76%… Read More
Canadian Government Supporting Mortgage Market
April 15, 2020 By Leave a Comment
Soon after the COVID-19 lock-downs began last month, signs started to appear that the mortgage market was headed for a credit freeze, where mortgage lenders would be unable or unwilling to keep lending to homebuyers. A credit freeze would likely crash the real estate market – if mortgage lending isn’t possible, home sales would collapse… Read More
Canadian Consumer Confidence Falls
April 10, 2020 By Leave a Comment
The Conference Board of Canada’s Index of Consumer Confidence fell by 32 points in March, the largest monthly decline ever. Canadians are clearly anxious about the coronavirus, and are mostly staying home both because the government is encouraging them to do so and also because they are afraid of venturing outside more than absolutely necessary…. Read More
Selling Homes Safely In The Age Of COVID-19
April 5, 2020 By Leave a Comment
Click here to view the video Many people still need or want to buy or sell a home, even in the midst of the coronavirus pandemic. For example, some bought homes some time ago, and need to sell their present home; others have sold their homes and need to buy a new one. We have… Read More
Changes Coming To The Mortgage Stress Test
February 22, 2020 By Leave a Comment
The ‘stress test’ for mortgage qualification in Canada requires that homebuyers must qualify for a mortgage as if the mortgage interest rate were higher than the actual rate they will get. The idea is to determine that the applicant will be able to keep up with the payments if interest rates should rise. That ‘higher… Read More
Millennials’ Financial Future Different From Previous Generations – KPMG Poll
December 22, 2019 By Leave a Comment
Giant consulting firm KPMG recently conducted a survey among 2,500 Canadians, including 1,000 millennials, aimed at exploring what retirement will look like for Millennials. The key findings of the survey were: More than three quarters (78%) of all Canadians believe that home ownership is an investment for financial stability in retirement. Because one’s principal residence… Read More
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