With the Bank of Canada widely expected to increase interest rates Wednesday, a poll from debt advisors MNP shows rising concern over higher rates. The survey, conducted by Ipsos, found that 1 in 3 Canadians are worried that rising interest rates could push them towards bankruptcy, up 6% since June. More than half (52%) of […]
Homebuilder stocks fell after Bank of America Merrill Lynch cut its recommendation to neutral from buy on three of the biggest companies — Toll Brothers, PulteGroup and NVR — and RBC offered fresh skepticism about growth and affordability. Toll Brothers is paring a decline of as much as 3.1 percent in early trading; PulteGroup […]
The Mississauga Real Estate Board (MREB) and real estate portal Real Estate Wire (REW) recently announced their partnership to provide wider home options for customers and to increase agents’ prominence, especially in the home buying and selling process. As part of the agreement, MREB members will have an access to REW’s growing portfolio of active […]
In its latest House Price Survey and Market Survey Forecast, Royal LePage reported that lower housing costs observed in the third quarter could be attributed to a general guardedness among the Edmonton market’s would-be buyers. “It’s a buyer’s market as economic uncertainty in Alberta and the new mortgage rules have eliminated some of the competition. Buyers […]
Get Digs™ is a digital service designed to improve the way renters and landlords pay and receive rent payments. Renters can pay their rent by the method of their choosing: credit card, VISA Debit, Debit Mastercard, Interac e-Transfer, or cheque, and can set up alerts to make sure they never make a late payment. Landlords get the […]
Quicken Loans, the largest home mortgage lender in the US, is to open a new office in Canada. The firm including its ‘Family of Companies’ is leasing more than 9,000 square feet of office space in the Old Fish Market Building in Windsor, ON, and intends to employ around 100. While it does not currently […]
What is the income gap between the salary required to purchase an average home and actual household incomes across major Ontario cities? Using August 2018 average home prices from the Toronto Real Estate Board and other local Ontario real estate boards, and assuming a 20% down payment, Zoocasa calculated the minimum household income required to […]
Canada’s economy is in for a few years of reduced growth according to a new report from Deloitte. The outlook shows a slump in economic growth from 3% in 2017 to 2% this year and to 1.4% by 2020. It cites high household debt, rising interest rates, flat real estate markets, and weaker employment growth, […]
Ontario’s premier needs to push ahead with the assistance promised to the province’s potential home buyers. The Ontario Real Estate Association (OREA), Ontario Home Builders Association (OHBA) and the Federation of Rental-Housing Providers of Ontario (FRPO) met this week to discuss housing policy and are calling on the Ford government to implement solutions to increase […]
Home sales in British Columbia remain weak following the past few years of growth. Across the province there was a 33.2% decrease in sales in September compared to a year earlier with a total of 5,573 units according to the latest data from the British Columbia Real Estate Association. “BC home sales continue at a […]
Condo rents in the Greater Toronto Area increased 9.4% year-over-year on a per square foot basis in the third quarter of 2018. Urbanation reports that tight supply of rental units pushed the average rent up to $3.26 per square foot although average monthly rent payments rose slightly less as the average unit size leased in […]
Canadian housing starts fell to the lowest in almost two years in September, led by a drop in British Columbia. Builders began work on an annualized pace of 188,683 units last month, down 5.1 percent from August, Canada Mortgage and Housing Corp. reported Tuesday. That trailed all 11 forecasts in a Bloomberg survey. Canada’s housing […]
While fear keeps us from danger, it also can keep us from many other amazing experiences. Your palms are sweaty. Your stomach has that light, unsettled feeling. Your mind races eagerly from thought to thought. Fear is an innate part of the human experience and has been essential to our survival as a species […]
The annual pace of Canadian housing starts fell to their lowest level in nearly two years in September. Canada Mortgage and Housing Corp. says the seasonally adjusted annual rate came in at 188,683 units last month, down from 198,843 in August. Thomson Reuters Eikon says economists had expected an annual rate of 210,000 for September. […]
Vancouver’s skyline will reach new heights in 2022 as The Stack becomes the city’s tallest ever tower. Built by Oxford Properties Group, the tower at 1133 Melville will be 530 feet tall and provide a AAA class office development of 540 square feet, making it the largest office development currently underway in Vancouver. Demolition has […]
Toronto is often considered to be the least affordable housing market in Ontario but that’s not the case says Zoocasa. The real estate website’s analysis shows that a median income earner ($65,859) in Toronto would be $41,282 short of what’s needed to buy the average-priced home ($785,223). But despite a higher median income ($88,535), buying […]
August saw new home sales on pause in the Greater Toronto Area but there are signs that better things are ahead. The Building Industry and Land Development Association (BILD) says that there were 974 new home sales according to data from Altus Group, including 171 single-family homes, a 50% increase year-over-year but 80% below the […]
The impact of the mortgage stress test is easing and the Greater Toronto Area’s housing market is showing growth – signalling the end of the market correction. That’s the assessment from RE/MAX INTEGRA, Ontario-Atlantic Canada Region which says that demand for single-family homes is on the upswing and average prices are starting to rebound. “The […]
Biarke Ingels Group has received approval for their King Street West condo community in Toronto. Originally proposed in 2016, the development was made as sets of pixels extruded upwards to create space for housing, retail and boutique offices. The concept was formed to avoid the footprints of heritage buildings that already exist on site. Alex […]
Housing market dangers are “especially acute” in Australia, Hong Kong, Canada and Sweden, Oxford Economics said, noting this has historically posed a threat to economic activity. “In all four, valuations are very elevated, there has been a lengthy housing boom, debt levels are high and there is a significant share of floating rate debt,” Adam […]
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