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 […]

Tax changes and the small business world…

Tim Cestnick July 21, 2017 Ever since the 2017 federal budget in March, when the government announced that tax changes affecting private corporations would be coming, I’ve been feeling queasy. Well, the proposed tax changes were announced by Bill Morneau, the Finance Minister, on Tuesday. And ugly they are. Here’s a primer on the potential […]

When a detached home isn’t really detached..

‘Detached’ home for sale is actually linked to property next door Bob Aaron Toronto Star June 7, 2017 After signing an agreement, a couple found out their house was connected underground to their neighbour. When is a detached house not detached? That was the question facing the “Smiths” late last month. The couple came to see […]

CIBC slams Ontario rent controls..

New rent-control rules are “the exact opposite” of what is needed to deal with housing affordability problems in Toronto, Canadian Imperial Bank of Commerce economist Benjamin Tal says. In a new report Tuesday, Mr.Tal urges the Ontario government not to proceed with “alarming” plans to expand rent control protections, saying the Greater Toronto Area needs […]

China restricts home buyers

TIANJIN – The northern port city of Tianjin announced measures Friday to restrict home owners from buying new homes to cool the property market. Starting Saturday, single adults (including divorced individuals) and families whose members do not have permanent residence permits, or hukou, will be prohibited from buying new apartments, including second-hand ones, if they already own at […]

Asbestos – does it matter?

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 […]

Toronto demographics…

The Toronto Region’s population base is one of the fastest growing in Canada; growth between 2001 and 2014 equalled 87% of the total population of Calgary in 2015. More than half of the global population (54%) now lives in cities, and by 2050 it is expected to grow to 66%. Toronto has more than twice the proportion of recent […]

Developers – disaster with rent controls

Major Toronto apartment developers are warning that Ontario’s proposals to expand rent controls would be a “disaster” that would push house prices even higher as the supply of new rental properties dries up. The Ontario government announced earlier this month that it is reviewing rent control regulations in the province and considering “substantive changes”. Current […]

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 […]

Toronto prices are in line with the world…

Toronto’s soaring home prices are in line with the reality of other world cities such as New York, Hong Kong and London, says Mark Renzoni, president of global commercial real estate giant CBRE. “The market is fairly balanced. It’s not being driven by foreign capital. It’s being driven by Canadians, moving up, buying for the […]

Toronto Mayor rejects ‘bubble’ claim

Toronto Mayor John Tory is rejecting the notion the city’s housing market is in a bubble and insists the rapid rise in home prices shows the market is healthy. “Reports will come out from economists – I don’t dismiss them, I read them all – but I also talk to a lot of people in […]

GTA home prices & sales continue to soar…

An announcement made by the Building Industry and Land Development Association (BILD) this week reveals that demand for housing in the Greater Toronto Area is showing no signs of slowing down. The average price of new low-rise homes is up 22 percent from last year, reaching a new high of $992,231 in the month of September […]