Condos are still working through excess supply, particularly investor-focused units. At the same time, we’re beginning to see stability in larger units designed for end users. Ground-oriented homes : semis, townhomes, and detached properties remain resilient, especially among millennials. Supply is tight. Demand is intact. Prices are not collapsing.
Read moreHas the Bank of Canada provided what the real estate market needed….. Certainty?
Over the past year, many buyers stayed on the sidelines waiting for “one more cut” or “lower rates”. At the same time, sellers hesitated, worried that listing too early might mean selling at “the bottom of the market”. This unfortunately created a tug-of-war that slowed everything down.
Moving forward the bank of Canada has said it expects is a more “balanced market” a feeling that resonates with many economist.
Read moreRaising Taxes: Toronto's Way of Solving All Its Problems
If high-end buyers get discouraged by heavy upfront taxes, they don’t move.
And when they don’t move, the mid-range homes they would have vacated never come to market.
Its a domino effect.
Read moreBill 60 - The Law that could change Real Estate overnight.
But the biggest conversation isn’t about development timelines but it’s about tenant rights.
Specifically, Schedule 12, which contains amendments to the Residential Tenancies Act.
Is the dream of Home Ownership dead for Young Canadians?
A new global study suggests what many of us in real estate have been watching unfold in real time: Canada’s biggest cities are now among the hardest places in the world for young people to buy their first home…..
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