Toronto real estate market news & info
If you’re tired of renting but can’t quite scrape together a down payment for a home of your own; or if you are retiring and would like to keep your living costs as low as possible; you may need to get creative. One option is to purchase a home with friends or relatives, entering into… Read More
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
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
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
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
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
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
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
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
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
We hope you'll like us on Facebook!
Follow us on Twitter
View our Channel on YouTube
Connect with us on Google Plus
Connect with Dave on LinkedIn