Canada's Condominium Magazine

Monthly Archives: March 2013

Transit-accessible homes retain their value, even in recession: study

Transit-accessible homes retain their value, even in recession: study

There’s an interesting connection between public transportation and housing. It has long been apparent that people shopping for a home often put proximity to public transit high on their list of priorities for the home’s location. People like the convenience of living close to subways and streetcar lines. Given the choice, many people will take… Continue Reading

Flaherty squashes mortgage rate competition

Flaherty squashes mortgage rate competition

It didn’t take long. This morning, Manulife Bank announced that it would offer five-year fixed-rate mortgages at 2.89 per cent, ten basis points below BMO’s offering announced last week. By this afternoon, however, Manulife said it was pulling the cut-rate mortgage, which had been the lowest it ever offered. What happened? Canada’s Finance Minister, Jim… Continue Reading

Baby boomers affecting longer-term housing growth: report

Baby boomers affecting longer-term housing growth: report

The badly damaged US housing market is practically roaring back to life, while Canada’s is “softening.” According to a report on global real estate by ScotiaBank, the US is “at the top of the pack” globally for price growth, as demand outstrips supply. Here, on the other hand, demand has slumped because of government engineered… Continue Reading

Other Popular Stories

15 percent non-resident speculation tax becoming reality for Ontario; may help temper “frantic” real estate market “without unintended consequences”

15 percent non-resident speculation tax becoming reality for Ontario; may help temper “frantic” real estate market “without unintended consequences”

As expected, Kathleen Wynn moved to cool down the sizzling hot GTA real estate market with a bundle of measures, led by new 15 percent non resident speculation tax. Investors who are residents are exempt, although separate “policies” may also target locals. Expanded rent controls are also certain. “When I talk about the frenzy in…

Ask the Lawyer: Condo owner wants action on noisy Airbnb “tenants”

Ask the Lawyer: Condo owner wants action on noisy Airbnb “tenants”

Reader Question: “I believe my neighbour is renting out with Airbnb. I see people I don’t know coming and going, making lots of noise. I also don’t feel safe in this environment. What can I do about this? So far, complaining to management hasn’t helped.” Do you have a question for Richard? Please reach out…

Sousa again promises action in GTA real estate market and rent controls in “coming week”

Sousa again promises action in GTA real estate market and rent controls in “coming week”

In another of several announcements promising action on the Ontario housing market — this one promising “in the coming week” — Ontario’s Finance Minister Charles Sousa revealed more details of the pending plan to rein in speculative market pricing in the GTA area. A combination of low supply and excessive demand has thrust house pricing…

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