The perils of living in super high rise condo buildings The nearly 1,400-foot tower at 432 Park Avenue, briefly the tallest residential building in the world, was the pinnacle of New York’s luxury condo boom half a decade ago, fueled largely by foreign buyers seeking discretion and big returns. Six years later, residents of the […]
The One could reclaim Canada’s tallest tower status after bid to add 9 storeys In December 2020, Mizrahi Developments submitted an addendum to increase The One’s height by adding nine storeys to the already supertall building. If approved, it would boost the Bloor and Yonge condo tower’s floor count from 85 storeys to 94 storeys. The developer is seeking […]
2020 real estate market
Matthew Wilson, LLB, CS From time to time a purchaser will want to purchase real estate before the corporation that will own the real estate is incorporated. The agreement of purchase and sale might be entered into by an individual “in trust for a corporation to be incorporated without any personal liability”. Does this change what […]
It’s all about supply and demand. We have a shortage of single family listings, but we have an over-supply of condo listings (a lot of former AirBnb’s have come up for sale).
A flood in Fort McMurray this past spring costing $100 million in damages. A June hailstorm in Calgary, now ranking as the fourth largest claim in Canadian history at $1.2 billion. These are just two examples of recent catastrophic losses impacting insuranceacross the country and contributing to a hard market, where premiums are increasing andcapacity […]
CRA cracking down on abuse of principal residence exemptions, but their assessments aren’t written in stone Jamie Golombek: If it’s determined that you’re regularly buying and selling homes, you can be denied the PRE There are very few things that are tax-free: investment income in your TFSA, lottery and casino winnings, purchasing six or more […]
What is Asbestos? Where is it? Asbestos was often used in the construction of residential properties, particularly in the 1950s to 1970s. Asbestos was primarily used as an insulator because it is heat resistant and has a high tensile strength. It was contained in products such as pipe and duct insulation on heating systems, sealers […]
Canada – Inflation Rate 10 years Canada – Unemployment rate TSX vs Dow Jones 25 years Canada 10 Year Bond Yield
If you bought a house before the coronavirus crisis hit, don’t expect force majeure to save you FINANCIAL POST MARCH 28, 2020 Real estate transactions, even at the best of times, are complicated and stressful for buyers and sellers. For the thousands of people who made or received firm offers before the coronavirus outbreak changed everything […]
Globe & Mail March 11 2020 Every financial market you can think of is in an uproar right now, but not Toronto real estate. Sales of houses and condos for the first week of March were up 47 per cent over the same period last year and average prices rose 18 per cent, said John Pasalis, […]
2017 – Here we go again. ASP is up 16.7% over February 2019. The market is hot – we have a dire shortage of listings, Bank of Canada just lowered the interest rate, and we have lots of buyers out there. If ever you’ve thought of selling, the right time is NOW! Call me if […]
Unstoppable condo sales put Toronto market at risk of overheating: CMHC TORONTO STAR – JOSH RUBIN FEBRUARY 20, 2020 The real estate market in the Toronto area is in danger of overheating, with condos driving much of the momentum, according to a new report from the Canada Mortgage and Housing Corporation. The CMHC’s quarterly market assessment, […]
