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Sunday , 26 March 2017

Monthly Archives: May 2013

Low-rise home sales falling, high-rise close to average: RealNet

Fewer Torontonians bought low-rise homes in April, or, as the Building Industry and Land Development Association (BILD) put it, “consumer confidence in the GTA’s new homes market is still low.” RealNet Canada, BILD’s source of research and analysis for the new home market, reported 987 new low-rise homes sold in April. It was the lowest number of low-rise sales ever recorded in the month of April. Low-rise includes detached, semi-detached and townhomes. Year-to-date numbers in combined low-rise and high-rise sales are also down, coming in at 30 per cent below the long-term average. It was the second lowest April on record for all types of home sales combined. The high-rise ... Read More »

Would Toronto condo buyers jump at rent-to-own option?

Turned down by the bank for a mortgage? Credit problems? Bankruptcy or consumer proposal? No bank qualification? No problem. Ideal for immigrants, the self-employed and the divorced. You can own the home of your dreams in just 90 days! Does this sound like a pitch for one of those payday loan companies? Not quite. This is language from a fairly typical ad for a company offering rent-to-own services. They promise that none of the above problems can stop you from renting-to-own the home you want, and you can be in that home in as little as seven weeks. And if you think it all sounds a bit seedy, a bit ... Read More »

Mortgage professionals: Flaherty’s policies are hurting the economy

Canada’s mortgage professionals take a somewhat dimmer view of the future of the housing market than the finance minister does. The Canadian Association of Mortgage Professionals (CAAMP) released a survey today, Change in the Canadian Mortgage Market, which warns of the economic implications of a weakening housing market. CAAMP sees a contradiction between the actual behaviour of Canadian mortgage holders, which is mostly responsible and prudent, and the finance minister’s concerns about a housing bubble. According to the survey, most Canadian mortgage holders already had mortgages with 25–year amortization periods even before Jim Flaherty made it the only option for new home buyers. What’s more, most of those intend to ... Read More »

Better than average value for families at Tridel’s new Avani condos

If you’ve given any thought at all to buying a home in Toronto, you might have become discouraged by all the talk of how “average” home prices have got so high. You shouldn’t be. First of all, remember that there is no such thing as an “average price” for a property in this city. At least not in a way that’s meaningful to a buyer. In a city whose population is greater than that of most provinces in this country, talk of an “average” price makes sense only when broken down by area, by neighbourhood, and even by street. The real estate market, as they repeatedly remind us at the ... Read More »

Ontario’s home builders urge wooden mid-rise construction

Ontario’s building industry wants to see changes to the Ontario Building Code that would allow the use of woodframe construction in buildings up to six storeys. At present, the height limit for wooden buildings in Ontario is four storeys. The proposal is set out in a report, titled Unlocking the Potential for Mid-Rise Buildings: Six Storey Wood Structures. The report was commissioned by the Building Industry and Land Development Association (BILD), the Residential Construction Council of Ontario (RESCON) and the Canadian Wood Council. The report, which was written by Toronto urban planner and professor Paul Bedford, argues that changing the Code would facilitate a solution to the problem of inadequate ... Read More »

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