Homebuyers, real estate investors and industry commentators alike are grappling with the many ways the COVID-19 pandemic will impact Canada’s housing market and the path ahead as economic activity across the country cautiously resumes. One approach in the search for clues on both the short and long-term market implications of the pandemic’s disruptive effects is […]
Many people have pointed out that the COVID-19 pandemic has magnified several negative trends that were already underway, from income inequality to disfunction in care for seniors. And for renters and landlords, this may turn out to be the case as well. Over the past five years, the number of people who turned to renting […]
Canada’s home prices are still likely to see a 5%-10% annual gain by year-end, according to Altus Group chief economist Peter Norman. In an interview with The Financial Post, Norman said that despite the COVID-19 travel restrictions that have ground the entry of wealthy foreign homebuyers to a halt, housing will return to an upward […]
As the province heads into its 50th day spent under a state of emergency as a result of the COVID-19 pandemic, further business shutdown restrictions have been loosened in Ontario. Today, the provincial government announced that it would be expanding the parameters of essential construction to other activities and easing limitations on retail stores. This […]
Those are among the insights offered by CIBC World Markets managing director and deputy chief economist Benjamin Tal during a May 5 Real Estate Forums webinar. “It’s not a recession, it’s not a depression, it’s something in-between,” Tal said of the unprecedented position Canadians, and people around the world, find themselves in. “It’s basically a […]
TORONTO – Sidewalk Labs‘ ambitious vision for a hi-tech neighbourhood equipped with futuristic innovations won’t be coming to Toronto’s waterfront. The Google affiliate revealed Thursday that is walking away from its controversial, smart city plans after spending years and millions of dollars on the proposal. ”As unprecedented economic uncertainty has set in around the world […]
News that Canadian financial institutions were offering some mortgage deferrals sent investors running to the banks in early April, asking for a stay on their payments as personal incomes and investment portfolios were being wiped out by the coronavirus pandemic. Those deferrals seem like a lifeline for investors facing a liquidity crisis, but one leading […]
Canadian real estate buyers largely ignored warning signs going into last month. Canadian Real Estate Association (CREA) data shows sales climbed in March. Due to the pandemic, the country had distinct pre and post markets. Pre-pandemic declaration, a large number of buyers didn’t think the deteriorating economy would impact them. Post-pandemic declaration, buyers were literally […]
Real estate lawyer Mark Weisleder has some pragmatic advice for buyers, sellers and real estate agents facing conundrums around closing deals: “You must find a way to make it work.” The partner with Rea lEstate Lawyers LLP says the fallout from the coronavirus pandemic is leading to all manner of glitches between the time when […]
The Canadian housing market is in turmoil — at least that’s what the stock market is suggesting. Real estate firms like Brookfield Property Partners LP have seen their shares slide by more than 50%. So far, the impact on residential housing is unclear. But early data indicates that private homeowners should be nervous. “The national […]
Virtual tours and video walkthroughs are often used by new home and condo developers to showcase their unbuilt projects to potential homebuyers. Using advanced imaging capabilities and other tech, these tours offer customers an immersive 3D experience with life-like visuals to make them feel like they’re actually there. With sales centres and model homes now […]
Mississauga currently requires condos to have one parking spot per studio unit; more for larger units. But as the city moves to a more transit-friendly, urban place, is it appropriate to keep up that ratio? In fact, some condo developers say many owners in the downtown already don’t want a parking space. Actually, developers and […]
A Toronto real estate firm is offering residents of its properties $100 in UberEats gift cards or grocery gift cards to help support them and local businesses during the COVID-19 pandemic. In a letter to residents dated March 30, Shiplake Properties Ltd., which operates five rental apartment towers in Toronto, with currently 1,200 units, said […]
Although the Canadian real estate market started 2020 in full force and was well on its way to a red-hot season, the social distancing and home isolation measures that were put in place as a result of the COVID-19 outbreak started leaving their mark on home buying and home selling almost immediately. Prospective homebuyers’ priorities […]
In a time when many Torontonians fear they might not be able to pay their rent, let alone put food on the table, amidst the coronavirus emergency in the city, a property management company is going above and beyond to show its residents that they’re supported during this challenging time. In light of everything going […]
A second surprise rate-cut this month from Canada’s central bank, has mortgage experts reluctant to predict what is in store for consumers, who are reeling from lost income in the COVID-19 pandemic. The Bank of Canada’s decision to lower its key rate to 0.25 per cent was primarily aimed at easing the economic shocks of […]
The federal government this past week announced a variety of tax measures to help Canadians facing hardship as a result of the COVID-19 outbreak. Here’s a quick summary of the major tax changes affecting individuals. TAX PAYMENT AND FILING DEADLINES The government is extending the deadlines for filing personal tax returns and paying balances owing. […]
TORONTO — Canada’s top lenders lowered their prime rates by 50 basis points on Friday, hours after the central bank unexpectedly cut its key interest rate to help the county weather the economic fallout of the coronavirus pandemic. Royal Bank of Canada, Toronto-Dominion Bank, Bank of Nova Scotia , Bank of Montreal and Canadian Imperial […]
A second surprise rate-cut this month from Canada’s central bank, has mortgage experts reluctant to predict what is in store for consumers, who are reeling from lost income in the COVID-19 pandemic. The Bank of Canada’s decision to lower its key rate to 0.25 per cent was primarily aimed at easing the economic shocks of […]
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