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Greater Toronto Scene

Special coverage of the GTA Condominium and lifestyle scene.

A good time to be a condo landlord: despite record high rent, up 10.3% year-over-year, intense tenant competition makes it a “landlord’s market”

A good time to be a condo landlord: despite record high rent, up 10.3% year-over-year, intense tenant competition makes it a “landlord’s market”

The average vacant condo is rented within 10 days, at an average rent of $2,219. Ontario’s new rent controls, expanded to include newer buildings, is partially to blame for record high rent being asked by landlords across the city. With caps on rental increases for renewing tenants, landlords are making sure their initial rent is… Continue Reading

Millenials live with parents longer in Toronto: new study “Gen Y at Home” from University of Waterloo gives reasons for Census data

Millenials live with parents longer in Toronto: new study “Gen Y at Home” from University of Waterloo gives reasons for Census data

Why do 47.1 % of millennials in the GTA still live with their parents — 13% more than the already-high National average? [As reported previously in Condo.ca>>] According to a new study from the University of Waterloo, GenY at Home, the main reasons are housing prices, debt and job instability. Although these aren’t big surprises,… Continue Reading

50,000 jobs lost after minimum wage increase? Financial Accountability Office (Ontario) cautions young people to be ready.

50,000 jobs lost after minimum wage increase? Financial Accountability Office (Ontario) cautions young people to be ready.

While the minimum wage increases, set to increase in increments, is good news for employees, the Financial Accountability Office (FAO: Ontario government’s watchdog) is warning there may be up to 50,000 jobs lost as employers reduce hours to compensate. Prices of goods will also likely increase by 0.5% (after inflation is removed). Impact on the housing… Continue Reading

66% of consumers want to buy a home in Toronto this year; only 35% believe they can; Toronto’s attainability gap of 31% par with other major cities: Poll data

66% of consumers want to buy a home in Toronto this year; only 35% believe they can; Toronto’s attainability gap of 31% par with other major cities: Poll data

Although 66 percent of Toronto-area residents aspire to buy a home in Toronto this year, only 35% believe they can. This is according to an extensive poll survey of many cities, conducted by car2go — who naturally also asked the same question of cars.  Jonathan Wycoco, GM for car2go Toronto, explained, “The purpose of the… Continue Reading

Traffic cameras at intersections reduce death and injury from accident by 40% at specific high-risk traffic lights in Toronto

Traffic cameras at intersections reduce death and injury from accident by 40% at specific high-risk traffic lights in Toronto

Sixty-five new “red light” cameras have been installed in dangerous Toronto intersections under an initiative from the City of Toronto to “eliminate traffic death and serious injury.” Ten more are due this year. Prior to this increase, there were 77 intersection cameras. According to Myles Currie, the city’s director of the Traffic Management Centre, there… Continue Reading

Toronto’s Chief Planner Jennifer Keesmaat — major proponent of Rail Deck Park — resigns, surprising her own staff.

Toronto’s Chief Planner Jennifer Keesmaat — major proponent of Rail Deck Park — resigns, surprising her own staff.

Known for steering difficult projects, such as the push to a greener city, Rail Deck Park, Crosstown LRT and the Scarborough subway, Toronto’s Chief Planner was known for standing up to politicians and pushing progressive visions. No explanation was given, and she made no comment. The official statement announced she will leave September 29, with… Continue Reading

OREA pushing for fines up to $100,000 for realtors who don’t follow the rules; part of the Real Estate and Business Broker’s Act review

OREA pushing for fines up to $100,000 for realtors who don’t follow the rules; part of the Real Estate and Business Broker’s Act review

Fines for misconduct of Realtors may soon increase — in a move designed to reassure both buyers and sellers in Ontario. Although the incidence of unethical behaviour is low — the Real Estate Council of Ontario collected only $304,500 in fines in 2016 — all stakeholders are pushing for reform to the Real Estate and… Continue Reading

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