Toronto market cools, creates sticky situations

Globe & Mail June 10, 2017 With a new home and a baby on the way, this summer was meant to be joyful for Pickering teacher A.J. Smith. Instead, he’s found himself squeezed by the Greater Toronto Area’s housing-market slowdown, watching tens of thousands of dollars evaporate from the value of a house he needs […]

Vacant home tax? little effect…

Here’s a scoop: sometimes politicians do things just so they can say they did something. Whether what they do has much effect in the real world is an entirely secondary matter. If Toronto does go ahead with a tax on vacant homes in an effort to slow the vertiginous rise in property prices, it will […]

Vicious rent control cycles..

Rent control is out of control. Now it’s making a comeback. Which may leave us right back where we started.  The debate over rent control is a perennial in Ontario politics, as predictable as the election cycle. In today’s tight housing market, with a close political contest looming, history is about to repeat itself. For better […]

Canada firing on 3 cylinders…

Canada’s housing market is firing on three cylinders, surprisingly including Vancouver, and setting fresh records for the month of February. The Teranet-National Bank home price index, released Tuesday, showed a gain of 1% from January. That marks the fastest pace for a February in the 18-year history of this measure. The “increase of unusual magnitude […]

Madani predicting bursting bubble… again

Those booming housing markets may make some homeowners rich and provide a short-term boost to the economy, but a Canadian economist is warning about the long-term impact on the country. David Madani, of Capital Economics, said in a report out Friday that while the housing boom supported the economy through the oil shock in 2016, […]