Home equity lines of credit (HELOCs) might prove highly valuable to households labouring under weaker purchasing power, according to finance columnist Dale Jackson. In a recent article for BNN Bloomberg, Jackson stated that the ongoing pandemic definitely qualifies as an emergency that necessitates borrowing from a HELOC, especially considering the severe economic impact of the […]
Last week, the Provincial Government ordered at-risk workplaces to close-down to prevent the spread of COVID-19. In a list of “essential workplaces” that can stay open during the corona virus pandemic, constructions sites are among the 74 businesses deemed as a priority. With families waiting to close on new properties, sales of existing homes, and […]
The GTA home market was up 211 per cent in February 2020 with 4,665 total new home sales — the highest number of new homes sold in February since 2002, according to, according to Altus Group, BILD’s official source for new home market intelligence. The number of sales also saw a 57 per cent increase […]
Canada’s spring house hunting season — typically the busiest time of the year for home transactions — will be effectively cancelled this year. The strict social distancing measures that are critical to the fight against COVID-19 will make it all but impossible to follow through with the activities that the conventional home sales process necessitates. […]
Despite a strong start to the spring housing market in the Greater Toronto Area (GTA) in February, evolving conditions around the COVID-19 pandemic have had a profound short term impact on housing activity in the region. Among a slew of measures being announced at all three levels of government – including a number of initiatives […]
The COVID-19 pandemic has disrupted every aspect of our lives and no industry has been left unaffected. It can be particularly challenging for those in the new home industry where buyers still value that personal connection and in-person experience before they sign on the dotted line. A house, after all, remains the biggest purchase most […]
If you were to make a list of groups that will never have a fan club, Ontario’s Landlord Tenant Board would likely be one of the first to get jotted down. Investors have long been calling for improvements to the LTB’s methods, particularly the Board’s slow and costly approach to resolving issues with problematic tenants. […]
Despite the uncertainties the COVID-19 outbreak is bringing to Canada’s economy, the commercial real estate sector is positioned to weather the effects of the pandemic, according to a market expert. Mark Paterson, vice president at Marcus & Millichap, said that activity in the commercial real estate sector is slated to grow despite the volatile times. […]
Everyone’s spring plans are up in the air at the moment, and it’s no different for Toronto’s luxury condominium market. The ongoing coronavirus pandemic has cast a long shadow over Canada’s real estate markets for 2020. Yet, despite all the economic uncertainty, sales for luxury condos in the GTA remained strong in the first 15 […]
Greater Toronto real estate buyers rushed into the market, even amongst pandemic warnings. Altus Group data shows new home sales more than doubled in February. The impact on prices was mixed, as new single-family homes continued to fall. Condo apartment prices rallied to a new all-time high. The gap between the two narrowed to the […]
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 […]
Home sales in the Greater Toronto Area (GTA) increased significantly in February, according to the latest market report from the Building Industry and Land Development Association (BILD). Citing figures from Altus Group, BILD said there were a total of 4,665 home sales in the month, 211% higher than the sales recorded over the same month […]
Property sales in 30 tier-1 and tier-2 cities triple in March from February in sign coronavirus crisis is abating Sizzling sales in pockets of market unlikely to compensate for expected decline in nationwide sales this year, analysts say China’s private housing market is springing back to life as more sales offices reopened across the country […]
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 […]
Ontarians struggling to make ends meet during the novel coronavirus pandemic have received some respite for their housing concerns. Last week, Premier Doug Ford suspended all evictions and the federal government has announced residents may defer their mortgage payments for additional financial assistance. In turn, the Canada Mortgage and Housing Corporation (CMHC) announced it’s expanding […]
There will be no dividend payments to the Canadian government from the Canada Mortgage and Housing Corporation during the coronavirus crisis. CMHC usually makes regular and special dividend payments to Ottawa, ranging from a hundreds of thousands of dollars thorough to $4 billion, the largest amount paid, in 2017. But with the corporation supporting Canadian […]
It was an “exceptionally busy” February for new home sales before the coronavirus slammed into the Toronto region just weeks later. Data released today by the Building Industry and Land Development Association (BILD) and its source for home sales and price tracking, Altus Group, showcased several examples of a market heating up for a busy […]
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