This week’s top real estate stories: Canada’s vacant home problem, Toronto real estate is slowing down, and Vancouver is booming…again.
Toronto real estate makes a sharp turn. Prices growth is slowing, sales are dropping, and inventory is hitting highs.
Don’t expect Mainland Chinese real estate investors to make it rain in 2017. At least, not to the extent they did last year.
Foreign buyers accounted for 4.7% of Toronto area real estate purchases. This includes people eligible for the foreign buyer tax rebate.
Canada gets flagged for a financial crisis…twice, Vancouver’s subprime buyer program is spiking prices, and inflation plummets.
Mortgages in Ontario ticked down to the lowest level since just before the Toronto real estate crash of 1990.
China’s largest international real estate buyer has a problem, and the Canadian government thinks household debt will accelerate.
Toronto real estate may be cooling, but condos are seeing the fastest rising prices in the country – with the exception of a Toronto suburb.
The über rich are flocking to Sydney for second homes, 7% of Toronto homes sold were owned less than a year, and BoC finds mortgage problems.
While Toronto real estate is making up it’s mind, we take a peak at how prices changed in an affluent suburb to see if we can gain insights.
