Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadian Real Estate Prices Slip Further As Sellers Suddenly Surge Canadian real estate markets continue to soften, with few signs of a break. The benchmark (typical) home price slipped lower in October, and is 14.6% below the March 2022 record high. Slow […]
Canada keeps repeating it’s spending billions on new housing, but with who, and how does it help? Earlier this week, Deputy Prime Minister Chrystia Freeland announced $1.2 billion worth of investments to build rentals in Toronto. It turns out over a third of those funds are going into one project—373 Front St East, which are […]
Canadian real estate is changing fast, and office spaces aren’t escaping the impact. Commercial real estate giant Avison Young‘s latest report on Greater Toronto Area (GTA) office space reveals softening business demand. High priced office space is out, and traditionally “less desirable” space is in. The firm notes a major trend softening the blow—demand from […]
Two years after fraud allegations first hit, a court is finally taking control of a brokerage’s assets. An Ontario judge has placed Wynn Realty Corp under receivership as of October 25th. Realtor Courtney “Lynn” Simpson and her broker/husband Kenneth Simpson are alleged to have defrauded dozens of clients. This isn’t the Realtor’s first rodeo either—she […]
Greater Toronto real estate is back to an ice cold market, after higher rates killed off speculation. Toronto Regional Real Estate Board (TRREB) data shows the composite benchmark (typical) home price made a sharp drop in October. Fewer sales were a major contributor, but the biggest factor is rising inventory. A lot more sellers are […]
Canada may have just killed one of its last golden geese. Immigration, Refugees and Citizenship Canada (IRCC) data shows new study permits made a sharp drop in August 2023. The decline can be attributed almost entirely to falling applications from India, a market that represented nearly half of all permits in 2022. The loss of […]
The future of Canadian real estate is starting to dim as one of the country’s most ambitious projects experiences a hiccup. Lenders just foreclosed on The One, a Toronto development once sold as Canada’s tallest residential tower. Lenders moved in after a default on a massive $1.35 billion loan. Yes, billion—with a B, and that’s […]
Greater Toronto real estate prices are once again moving lower as investors pull back. Toronto Regional Real Estate Board (TRREB) data revealed prices moved lower in September. It marked the third consecutive month for falling home prices, nearly wiping out gains made after a central bank pause. Despite a new pause, home sales are falling […]
Canadian real estate agents may be in for a significant change to their paycheque. Two years ago, a class action was launched alleging real estate sale commissions are price-fixed in Greater Toronto. This week, industry defendants had their attempts to dismiss the case come to an end. A federal judge just determined the class action […]
Canadians looking for student loan relief have a new ally—Ontario’s real estate industry. The Ontario Real Estate Association (OREA), a trade organization representing 90,000 Realtors, released a new report called The ˆImpact of Student Loan Debt On Homeownership. Many students feel their loans are yet another hurdle to ownership, and the organization has a few […]
