GTA Market Update

Rising interest rates in the GTA have led to a slowdown in the real estate market. Higher borrowing costs have reduced affordability for buyers, resulting in fewer listings and slower sales. Existing homeowners with variable-rate mortgages may face challenges, and investors might adjust their strategies. Market sentiment has become more cautious, contributing to the overall […]

We’re back to a balanced market again

Buyers are holding back, waiting to see what the Bank of Canada is doing.  We’ve had two straight rate-hold periods.  I’m predicting if the rate holds for December and January, we may see a very busy spring 2024 market as buyer confidence returns.  Right now, we’re back in a balanced market.  Inventory in Toronto and […]

Using ‘cash for house’ company was a costly mistake

CBC October 23 2023 Erica Johnson, Kimberly Ivany · CBC News Ontario woman says using ‘cash for houses’ company was costly mistake Unlicensed real estate entrepreneurs have no professional responsibilities — unlike Realtors Laurie Thompson admits she needed to sell her townhouse in Smithville, Ont., fast. The pandemic had done a number on her finances — the bar […]

Canadian Inflation down in September

The Canadian Press  October 17 2023 OTTAWA – Canada’s inflation rate edged down to 3.8 per cent last month as price pressures eased across the economy, setting the stage for the Bank of Canada to hold its key interest rate steady next week, economists say. Statistics Canada released its latest consumer price index report on […]

Drop in Inflation Rate more than expected

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 […]

Demand boosted by temporary residents…

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 […]

Private lenders rein in real estate borrowers..

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. […]

Real estate numbers for 2022

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 […]

REALTORS BEWARE Mordecai Berlad

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 […]

Homeowners not filing insolvency

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 […]

Bank of Canada – inflation & rate hikes

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 […]

Open bidding is not the answer

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 […]

Perils of living in super high rise condo buildings

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 […]