Toronto prices may stabilize in 2018 but….

The good news is that the combined effects of higher interest rates and new mortgage rules will see Toronto’s housing market balance out over the course of 2018. The bad news? A serious lack of land supply coupled with a rapidly increasing population means it won’t last. At least, that’s what CIBC Senior Economist Benjamin […]

Buying pre-sale condos? Research first…

With a sigh and hesitant pause, Jason Paris confides that in retrospect he wishes he’d done more research before putting down a deposit on the now-defunct Museum FLTS condominium project in Toronto’s trendy Junction Triangle area. The 43-year-old television production manager is one of hundreds of would-be homeowners who recently had their money returned and […]

Toronto and Vancouver are rebounding….

The housing markets in Toronto and Vancouver could resume their previous upward trajectories amid conditions of tight supply and burgeoning demand, according to a new report from CIBC World Markets. The Canadian housing market, in general, is in an important transition period — especially Vancouver and Toronto, economist Benjamin Tal said in the report, which […]

CRA has court order for Paypal account holders…

PayPal has been ordered to provide the Canada Revenue Agency with information about its business account holders. The company says a Federal Court order requires it to supply information about business accounts that received or sent a payment between Jan. 1, 2014, and Nov. 10, 2017. It is not required to provide information about customers […]

1,000 planned rental units convert to condos…

More than 1,000 planned purpose-built rental units have instead been converted to condominiums in the Greater Toronto Area since Premier Kathleen Wynne’s government expanded rent control in the spring, according to a new report that warns the region’s rental supply crisis is poised to worsen. The report, which is to be released on Monday and was obtained […]

Toronto condos being snapped up by tenants..

Intense competition means condos are being rented within 10 days of listing at average rents of $2,219 Ontario’s expanded rent control rules, in place since April, couldn’t stop a 10.3% hike in condo rents over the past year, according to a new study. Condo research firm Urbanation Inc. said Thursday the average index rent in the […]