REALTORS BEWARE: A man, Mordecai Berlad, aka Moti Berlad, has been charged with luring, confining, and sexually assaulting women, including a realtor. He has now been convicted. His name(s): MORDECAI BERLAD and also is known as MOTI BERLAD and MOTI BERLAND and MOTI BERALD There were 13 accusations in total. He has […]
Sales Woes The decline in sales can be attributed to the decrease in available inventory, and unfortunately, the situation doesn’t seem likely to improve. Prospective buyers had been holding off, expecting a decrease in market prices, which eventually occurred, but to their disappointment, prices are now on the rise once again. We’re all familiar with […]
Canada’s Inflation Rate has dropped for the seventh straight month, and January’s drop in rate was larger than expected – 5.9% vs 6.2%. This is good news. Experts predict the next rate for February will be 5.2%. This will impact the BOC rate later this year. Inflation Rate in Canada averaged 3.14 percent from 1915 […]
A surge of temporary residents is boosting demand for homes in supply-starved market Matt Lundy, Economics Reporter Globe & Mail February 17 2023 A record-setting influx of temporary residents is putting additional strain on the Canadian housing market, just as the construction industry is pulling back on new builds. By the end of 2022 there […]
As financial pressures intensify, real estate industry professionals are keeping a wary eye on debt-burdened homeowners – particularly those who rely on cash from private lenders. The credit that flowed so easily from private and alternative lenders when the Canadian real estate market was climbing is scarce, expensive and sometimes unobtainable when property values fall. […]
The Toronto Regional Real Estate Board numbers are out and it’s not as bad as many expected. Year over year, we’re still ahead by 8.63% in pricing. The number of units sold in 2022 was down 14% from the average number of sales of 2017, 2018, 2019 and 2020. 2021 was an unusually brisk […]
The Bank of Canada has raised its central bank rate six times so far this year reaching 3.75% in October 2022, up from a low of 0.25% at the beginning of the year. The resulting highercost of borrowing has led to a significant decline in mortgage originations and housing pricesand plenty of discussion about a […]
source: Statistics Canada
Bank of Canada prepares for a long fight against inflation Canada is on the cusp of a series of rapid interest-rate hikes, with the central bank poised to start raising the cost of borrowing as early as next week, beginning a sustained push to bring high inflation back under control. After nearly two years of […]
Most experts think the solution to Canada’s runaway house pricing is to have open bidding. It’s not! Michael Moffatt of the Smart Prosperity Institute:WOULD A BAN ON BLIND BIDDING SLOW THE GROWTH IN CANADIAN REAL ESTATE PRICES? Key Points From This Report During the election campaign, the Liberal Party ran on a promise to include […]
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 […]
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 […]
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 […]
