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 […]
The Canadian real estate correction has produced a glimmer of hope in young adults. In a worst case scenario, Desjardins sees home prices falling as much as 30% in a deep recession. It still won’t be enough to restore affordability—especially in Greater Toronto. The institution warns that housing is costing Ontario its edge, as its […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate The Global Era of Cheap Credit May Be Over, Home Prices To Adjust: BMO One of Canada’s largest banks sees the global era of cheap credit coming to an end. Post-Global Financial Crisis (GFC) the world was flooded with liquidity— pressuring real […]
Did your last walk through downtown Toronto feel quieter than usual? It’s not just your perception; fewer people are commuting to work in Toronto’s downtown offices. Strategic Regional Research Alliance (SRRA), a think-tank focused on Greater Toronto regional growth, recently released its July Occupancy Index. This Index, which tracks office occupancy relative to pre-2020 levels, […]
Canadian real estate prices surged higher as rates were cut, then plunged as rates climbed. According to a new BMO Capital Markets analysis, markets have retraced a significant portion of their losses despite higher interest rates. In fact, some real estate markets are even hitting new record highs alongside climbing interest rates. Tracking The Canadian […]
