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Saturday , 25 March 2017

Monthly Archives: October 2016

Overvaluation in some housing markets will lead to moderation: CMHC

Despite the somewhat alarming headlines about more of Canada’s housing markets being overvalued, the forecast for the coming year and into 2018 is for moderation rather than sharp decline. The rapid growth in home prices seen over the past few years is likely to slow, sales of existing homes will also slow, and housing starts will moderate in 2017 and 2018, but a sharp market correction is not in the cards, according to Canada Mortgage and Housing Corporation’s (CMHC) latest home market assessment (HMA) and outlook. The HMA detects problematic conditions by identifying “imbalances,” such as overvaluation, overbuilding, overheating, and price acceleration. Risks both domestic and global notwithstanding, the outlook ... Read More »

Incredible lakeside luxury suite at Aquabella has three balconies, two terraces

Can one have too much of a good thing? Not if we’re talking about love of the great outdoors, views of the sky, the city, and the water, and being so close to the lake that you can hear it lapping at the promenade below. And certainly not if you are looking for a condominium with enough indoor space to raise a family, or simply a grand space to entertain in. Consider the newest of Tridel-Hines’s luxury condominiums on the waterfront, Aquabella, where some fortunate homeowner will enjoy fabulous lake and park views from no less than three balconies and two very spacious terraces. There simply is no comparison in ... Read More »

Real estate market outlook optimistic, but supply problem will have to be addressed: report

Optimism is the predominant attitude regarding the Toronto real estate market, though it is tempered by a measure of caution. The residential real estate market has remained strong, with high sales volumes and prices, supported by a strong local economy, steady immigration and low interest rates. Barring an unforeseen catastrophe—a sudden interest rate hike, an economic shock, a sudden drop in immigration—no one expects this rosy picture to change drastically anytime soon. In fact, eroding affordability, due to lack of housing supply, is the main challenge Toronto must deal with. Many developers and builders, says the PwC report Emerging Trends in Real Estate for 2017, hold government policies responsible for this ... Read More »

Toronto condo sales, rental stats show tightening, under-supplied market

It is clear that the rental market in Toronto is frustratingly tight. Bidding wars among would-be tenants have become common, and rents for condos, which are becoming an increasingly essential part of the rental stock available, are skyrocketing. Depending on whose numbers one accepts, the average one-bedroom condo rent was $1,777 per month in the third quarter of 2016 (Toronto Real Estate Board), an increase of 7.2 per cent compared to a year ago, or $1,986 (Urbanation). There is little doubt about why rents are rising so fast. “There’s virtually no vacancy in the marketplace,” said Urbanation’s Sean Hildebrand. Lack of supply is fueling the surge in prices. As well, ... Read More »

YWCA urges government to view women’s homelessness through “gender lens”

Women experience homelessness and access to affordable housing in ways that are different from men, says a brief submitted by the YWCA to the federal government. In formulating its promised National Housing Strategy, therefore, the government should include a “gender lens” that recognizes the connections between women’s homelessness and their unique social circumstances. Women earn less money, live longer, are more likely to have been victims of domestic violence, and are four times more likely than men to be single parents. Failure to include gender-based analysis where housing and homelessness of women are concerned “can be a matter of life and death,” a YWCA statement says. Women without housing are ten ... Read More »

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