It's the main short-term solution, says a report.
Home sales hit their highest level since April 2016, gaining 5.2% in February compared to January, reveals statistics from the Canadian Real Estate Association. Read: The solution to Canada’s housing crisis The national average price for a home sold in February was $519,521, up 3.5% from a year ago. Excluding Greater Toronto and Vancouver, the […]
How ridiculous are Toronto home prices? So ridiculous that even the top 1% of earners are now priced out of the market. Don’t believe it? Douglas Porter, chief economist at BMO Capital Markets, may convert you. Home prices in Toronto rose almost 24% year-over-year in February (using data from the MLS home price index). But […]
If you’re worried about a housing crash in Canada, you’re not alone.
The BoC will hold its benchmark interest rate at 0.5% through the year even as the Fed hikes rates more than once, a CIBC economist predicts. That’s because the BoC is intent on a weaker loonie to support exports, says Benjamin Tal, deputy chief economist of CIBC World Markets. In a speech at the Canadian […]
The generation that disrupts business by demanding customization and embracing the sharing economy is showing a more traditional side when it comes to home ownership. That’s because a whopping 82% of Canadian millennials say they intend to buy a home in the next five years, reveals an HSBC study. Further, more than a third (34%) […]
For clients looking for single-family homes in the Greater Toronto Area, prices continue to climb.
Americans shrugged off rising mortgage rates and bought existing homes in January at the fastest pace since 2007. Home sales rose 3.3% in January from December to a seasonally adjusted annual rate of 5.69 million, reveals U.S. data from the National Association of Realtors. However, sales remain 21.5% below the all-time peak in 2005, says […]
Meridian has launched a family and friends mortgage, which allows members to pool their money so they can buy a shared home.
In case you need more evidence of just how hot the Toronto real estate market is, the Toronto Real Estate Board (TREB) has released its annual market outlook report. The average selling price for a home in the Greater Toronto Area (GTA) is expected to increase 10% to 16% in 2017, reveals the report, with […]