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Showing posts from April, 2017

Declining home prices aren’t inspiring investments

If house prices are declining there are fewer home buyers. Declining prices aren't inspiring investments, so buyers need a little motivation to get into this market. This further applies pressure to prices, and creates more desperate sellers.

High levels of mortgage defaults occur at the bottom of a housing market crash.

Low levels of defaults are a sign that markets are highly liquid, and therefore getting closer to the top.

getting pre-approved for a mortgage is key.

You'll also want to be sure your credit is in good shape so you'll get the best mortgage terms available.
You can check your credit scores for free on Credit.com.

Don't Miss The Chance To Own One Of Mattamy's Highly Desirable Freehold Live/Work Townhomes.

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Only 2 Remaining.  Don't Miss The Chance To Own One Of Mattamy's Highly Desirable Freehold Live/Work Townhomes.
Existing Freehold Mattamy Homes Live/Work Townhomes On Preserve Drive, Oakville.
Freehold Live/Work Townhome The Carnation - 2,349 Sq.Ft. - $1,304,990 (1,724 Sq.Ft. Residential Space & 625 Sq.Ft. Commercial Space) This Freehold Live/Work Townhome offers 3 Bedrooms, 2.5 Bathrooms, and a private Double-Car Garage. The large, open-concept Kitchen and Great Room spill over onto your own private outdoor Terrace for sun-filled entertaining, while the 2nd outdoor Terrace is covered to provide a comfortable, sheltered space for reflection and relaxation.  Live and Work from the comfort of your home.

Thousands of Manitoba families to benefit from significant renovations to social and affordable housing

April 28, 2017
by via CMHC News Releases — All Releases

Canada buys more goods and services from the U.S. than any other country: $322 billion last year.

Mexico isn't far behind with $262 billion.

The White House said late Wednesday that Trump has decided not to kill NAFTA, the free trade deal with Mexico and Canada, for the time being.

Instead he's going to try to renegotiate it.

New program helps Nova Scotians purchase their first home

April 26, 2017
by via CMHC News Releases — All Releases

Funding announced for Habitat for Humanity Yukon project in Whitehorse

April 27, 2017
by via CMHC News Releases — All Releases

Strong evidence of overall problematic conditions despite some housing markets showing signs of improvement

April 26, 2017
by via CMHC News Releases — All Releases

It takes housing bubbles about 5 to 6 years to reach their bubble peaks

And about half that time to retrace much or all of the gains.

Canada’s largest cities are the bubbliest housing markets in the world

Canada's largest markets – the metros of Toronto and Vancouver – have made it into the bubbliest housing markets in the world.

After eight years of aggressive monetary easing around the globe, and super-low mortgage rates, topped off with home prices soaring over 30% year-over-year in Toronto in March, even the government and banks are frightened.

Home prices inflated in many cities

Eight years of super-low interest rates in the US have succeeded in inflating home prices in many cities way past the peaks of the housing bubble that imploded during the Financial Crisis.

New taxes aimed at foreign buyers helped push Greater Vancouver prices down 11 per cent in the first quarter since the same period last year.

The average price there was $969,900

Double ending is where one agent represents both the seller and a bidder, thus working both ends of a deal

This has been fingered as a practice that triggers bidding wars and drives up prices.

The practice is banned in most provinces but not in Ontario.

Uncertain market

Many investors worried that turmoil in Syria and North Korea, as well as election uncertainty in France and the lack of progress on tax and spending policy under President Donald Trump, would lead to slower economic growth in the months ahead.

New measures to cool the housing market are very important

As the crucial spring selling season gets under way.

Measures to cool the housing market in the Greater Toronto Area should have some effect on runaway housing prices.

Measures to cool the housing market in the Greater Toronto Area have gotten a warm response from Canada's central banker, who said it should have some effect on runaway housing prices.

Plants are ideal house companions

In addition to adding natural beauty, plants are ideal house companions because of their many air purifying qualities. With the amount of time the average North America spends indoors, particularly those who brave harsh winters, indoor air quality is top of mind and adding plants are a great way to make your time indoors happier and healthier.

Federal and provincial governments partner with Habitat for Humanity in Duck Lake

April 21, 2017
by via CMHC News Releases — All Releases

Official opening of 19 new affordable housing units for single parents in Saguenay

April 21, 2017
by via CMHC News Releases — All Releases

Celebrating new affordable rental homes in Peterborough and Kawartha Lakes

April 21, 2017
by via CMHC News Releases — All Releases

Affordable housing for victims of domestic violence in rural Nova Scotia

April 21, 2017
by via CMHC News Releases — All Releases

Arbour Vale, Niagara’s most anticipated and luxurious condo community.

We are so pleased to announce the townhouse collection is 50% sold and the mid-rise building is 30% sold.

A 15 per cent tax on home purchases by non-resident foreigners in Toronto and the Greater Golden Horseshoe.

The tax would not apply to new immigrants who plan to live here, but speculators who will "never set foot in Ontario."

The proposed tax would apply to transfers of land that contain at least one and not more than six single-family residences, including semi-detached homes, townhomes and condos. It would not apply to transfers of other types of land including multi-residential rental apartment buildings, agricultural land or commercial/industrial land. A rebate would be available for those who later become citizens or permanent residents, as a well as foreign nationals working in Ontario and international students

Toronto property market is in a bubble that will end with pain for banks that financed the growth.

Toronto property market is in a bubble that will end with pain for banks that financed the growth.

Non-Resident Speculation Tax

A 15-per-cent "Non-Resident Speculation Tax" in the Greater Golden Horseshoe region is being introduced in Ontario.

Government of Canada takes historic action to create new rental housing

April 20, 2017
by via CMHC News Releases — All Releases

CMHC to introduce changes to multi-unit mortgage loan insurance to better support rental housing

April 20, 2017
by via CMHC News Releases — All Releases

Governments of Canada and Ontario announce funding for women's shelter in the city of Toronto

April 19, 2017
by via CMHC News Releases — All Releases

Governments of Canada and Ontario announce funding to improve Ontario social housing

April 18, 2017
by via CMHC News Releases — All Releases

Federal and provincial governments announce funding for new rental housing project in Saskatoon

April 18, 2017
by via CMHC News Releases — All Releases

Federal finance minister, Ontario counterpart, and Toronto mayor to talk housing

The gathering in Toronto comes as the Ontario government readies to unveil a much-anticipated package of housing affordability measures.

New rental supplements boosts affordable housing in Nova Scotia

April 18, 2017
by via CMHC News Releases — All Releases

Search for “housing bubble” in Google.

If you're about to put a massive offer on a house you can barely afford, you may want to think twice — and search for "housing bubble" in Google.

位于密西沙加西面的奥克维尔(Oakville)已经成了华人抢购房子的热点

一栋2,000平方英尺的独立房,1999年以24.5万元售出,2007年以54.5万售出,2011年以63.1万售出,2016年售价超过了120万元。而且现在没人住。

Contact your insurance company before you begin any renovation work.

Whether you're using professional contractors or considering a do-it-yourself project, speak with insurance advisors to make sure you understand your coverage. Remember, your coverage may be limited during renovations.

Is the property boom here forever

Everyone believes that the safest and most lucrative investment is in the real estate sector these days since it provides the best returns with much less risk and effort.

It seems that the property boom is here. But is it here forever? That's the million-dollar question.

Chinese money has played a huge role in property markets like Toronto and Vancouver.

The Chinese money keeps flowing in.

34% of Canadian millennials have jumped into the housing market and purchased a home

However, they did not go it alone: Mom and Dad had a hand in helping them buy the property. Thirty-seven per cent of millennial homeowners borrowed from their parents

"generation rent" is simply unable to buy a home.

For millions of youngsters, even those with professional qualifications and good jobs, property Vownership is an ever more distant dream.

Overheated housing market is oversupplied with buyers

Foreign buyers are the main driving force of unusual strong demands.

Moody's describes Canada as being at risk of a housing price correction.

On Tuesday, federal Finance Minister Bill Morneau is to meet with his Ontario counterpart, Charles Sousa, and Mayor John Tory of Toronto.

They've got to take action.

London home market had suffered its biggest drop in years

Asking prices in London dropped 4.3% in December with inner London down 6%.

It maybe because post-Brexit nerves, China's crackdown on capital outflows, the ongoing depressed commodity market.

Taxing foreign buyers or speculators or vacant properties are some of the possible tools that policy makers are considering.

Bank of Canada warned that speculators appear to be driving much of the runaway price growth in the GTA.

Toronto home prices outpacing Sydney and Vancouver

Toronto home prices outpacing Sydney and Vancouver

There is definitely a lot of speculative demand in the GTA market right now.

There is definitely a lot of speculative demand in the GTA market right now.

Housing is personal, life-affecting and necessary.

Speculation on housing is similar to speculation on food, it is inhuman.

Toronto does have affordability issues

Toronto does have affordability issues

Ridiculous housing costs are seriously damaging the local job market.

Typical wage gains have fallen far behind housing prices, which jumped more than 30 per cent in the past year.
 The overall cost of doing business in Toronto increased rapidly because of ridiculous housing costs.

We or our kids wouldn’t be able to retire

We or our kids wouldn't be able to retire if situation persisted, given high housing costs, weak middle-class wage growth and other factors.

Sales-to-new listing ratio

A sales-to-new listing ratio between 40 per cent and 60 per cent is considered indicative of a balanced market.

39 per cent of those aged 18-34 are now homeowners

The rest renting or living with family. Another 23 per cent of millennials believe they will never own a home.

Canada's housing bubble is worse than the one that helped trigger the Great Recession in the US.

Based on the ratio of house prices to income per capita, Canada's housing market is the most overvalued going back to at least 1981.

Many more listings will arrive after the long weekend

Right after Easter is done, the housing market's going to explode.

On Friday, the consumer-price index, which measures what Americans pay for goods and services, declined

On Friday, the consumer-price index, which measures what Americans pay for goods and services, declined

markets are entering a treacherous period amid soft economic data and global conflicts

markets are entering a treacherous period amid soft economic data and global conflicts

There’s a pretty big housing bubble in Canada.

By some measures, such as household debt to disposable income, it's even bigger than the one in the U.S. a decade ago.

Homebuilders are benefiting from the lack of supply of existing homes for sale.

Homebuilders are benefiting from the lack of supply of existing homes for sale.

A shortage of inventory and aggressive bidding wars are raising house prices at more than twice the rate of wage growth across the US

Especially in San Francisco.

St. Catharines real estate is heating up!

With average home prices on the rise across the Greater Toronto Area (GTA), surrounding areas are beginning to see an uptick in sales. For example, St. Catharines real estate started off the year on a hot streak with no signs of slowing down.

Drop in real estate transactions in the Vancouver area

A drop in real estate transactions in the Vancouver area after the provincial government brought in a 15 per cent tax on foreign buyers last August.

Recourse loan in real estate

A recourse loan in real estate allows lenders to seek financial damages from a defaulting borrower if the value of the house is not enough to cover liabilities.

Immigration is helping prop up Canada’s housing market

Immigration provides a steady inflow of educated newcomers that tend to turn into home-buyers

Ninja loans is a type of subprime lending

Ninja loans, a type of subprime lending, are extended to borrowers without the need to show a sufficient stream of income or put down enough collateral.

Windsor home prices have been climbing

Windsor, some 330 km away from Toronto, home prices have been climbing by roughly 11 per cent year over year.

Moody’s Investors Service said Canada, Australia, New Zealand and Sweden are most exposed to a correction because of their rapid increases in house prices.

A correction would have an impact on national economic growth in the four economies, Moody’s warned.

Residents of B.C. and Ontario believe most strongly that they live in seller’s markets — where demand exceeds the number of homes available

People feel differently in other provinces.

A package of housing affordability measures on the hot Toronto-area housing market will be introduced “very soon,”

Ontario Premier Kathleen Wynne said Monday.

There is enough serviced land for development

Municipal Affairs Minister Bill Mauro said that there is enough serviced land – connected to municipal water and wastewater systems – in the Greater Toronto and Hamilton Area to accommodate three to four years’ worth of development.

Speculation in the housing market.

Soaring resale home prices in the Greater Toronto Area – which climbed 33 per cent in March compared to a year earlier – are not being driven by a fundamental supply shortage, but by unusual demand factors such as speculation in the market.

Canadian housing starts trend upwards in March

April 10, 2017
by via CMHC News Releases — All Releases

House is now a investment vehicle.

No longer is house merely a castle, a family retreat and a place in which to find shelter.

Housing market collapse is inevitable

If prices are sent through the roof.

Real estate dominates Canadian banks.

Banks dominate the Securities Exchange. 

Proportion of households with investment properties

Proportion of households with investment properties changes the dynamics of home ownership.

Low interest rates attract investors

But force first time home buyers out of the market.

Tax on owners of the estimated 65,000 vacant homes

Toronto Mayor John Tory was weighing the possibility of a new tax on owners of the estimated 65,000 vacant homes in the city that would be similar to Vancouver’s tax and would be in Toronto’s “legislative domain.”

Rising house prices make people wealthier on paper

It could seriously damage the personal finances of those who borrow more than they can truly afford to buy a home.

A bubble burst can never becontained

A bubble can never operate smoothly .

Bank of Canada identified Toronto as the largest housing-market problem

For the Bank of Canada, a housing correction tops its list of risks facing the financial system. The central bank has warned that a sharp rise in unemployment could set off a series of unfortunate events, including a house-price correction that would be particularly severe in the Toronto and Vancouver. That would trigger a spike in mortgage defaults, putting pressure on lenders and mortgage insurers and eventually affect all borrowers through higher interest rates.

Speculation in real estate is becoming a problem in the Toronto region

Speculation is becoming a problem in the Toronto region as the real estate market becomes disconnected from economic fundamentals, such as job growth, immigration and family formation.

Toronto's real estate problem is rapidly becoming Canada's problem.

Toronto's real estate problem is rapidly becoming Canada's problem.

If debt-fuelled housing boom proves to be a bubble and pops, it will be a devastating crashe.

If debt-fuelled housing boom proves to be a bubble and pops, it will be a devastating crashe.

Reduce your monthly interest payments and save your money.

Transfer balances to your CIBC credit card account before May 31, 2017 and take advantage of this special 0% interest rate offer3.

This rate will apply for up to 10 months (until the last day of the period covered by your February 2018 monthly statement). A fee of 1% of the balance you are transferring applies.

Owning your home is likely the largest financial transaction many of us will make.

Owning your home is likely the largest financial transaction many of us will make.

real estat - 40 per cent of GDP.

In British Columbia, real estate and related fields such as construction and finance make up an astounding 40 per cent of GDP.

Canada is a country deeply reliant on real estate.

The industry accounts for roughly 12 per cent of its gross domestic product.

How Canada completely lost its mind over real estate - Macleans.ca

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How Canada completely lost its mind over real estate - Macleans.ca
http://www.macleans.ca/economy/realestateeconomy/how-canada-completely-lost-its-mind-over-real-estate/

How Canada completely lost its mind over real estateCanada's out-of-control real estate market has now gone totally mad­—and there's no turning back• April 7, 2017 (Photo illustration by Stephen Gregory and Gerrit de Jonge) Not many events can compel people to shell out more than $150 to spend an entire Saturday perched on metal folding chairs inside a chilly, cavernous auditorium. But in Toronto, the prospect of getting rich in real estate will do the trick. Last month, a spectacle billed as the Real Estate Wealth Expo stormed into town, drawing upwards of 15,000 people to see an eclectic mix of speakers, from motivational speaker Tony Robbins to musician and gyration enthusiast Pitbull.At 8:30 in the morning, a quartet of real estate industry professionals takes the stage to whoops from the cr…

The more debt homeowners take on, the more painful a contraction will be.

The more debt homeowners take on, the more painful a contraction will be.

Governments of Canada and Ontario announce funding for women's shelter in the City of Ottawa

April 7, 2017
by via CMHC News Releases — All Releases

The housing market is sensitive to whatever government activity lies ahead.

The housing market is sensitive to whatever government activity lies ahead.

Spring showers can bring water damage!

Keep in mind that basic insurance covers the result of water damage and not the source of the problem. Learn more about what’s covered and what's not as part of your basic home insurance.

GTA detached average price

York Region

Aurora: 1380
East Gwilliambury:1170
King City:1850
Markham:1680
Newmarket: 1140
Richmond Hill:1840
Vaughan:1610
Stouffville:1370

Duham Region:
Ajax:840
Oshawa:660
Pickering:930
Uxbridge:1090
Whitby:840

Halton Region:
Burlington: 1060
Milton:980
Oakville:1630

Peel Region:
Brampton:890
Caleton:1030
Mississaugua:1250

Toronto West:1220
Toronto Central:2450
Toronto East:1070

Improvements to affordable housing in Grande Prairie underway

April 5, 2017
by via CMHC News Releases — All Releases

Affordable housing — Budget 2017's commitment

April 5, 2017
by via CMHC News Releases — All Releases

Ontario puts a cap on rent increases for units that came into use prior to Oct. 31, 1991.

But there is no limit on rent increase amounts for more modern residences.

What’s the employment rate in America right now?

It's 4.7 percent.

New home warranty program.

On March 28, 2017, the Minister of Government and Consumer Services announced that the Ontario government made changes to the province's new home warranty program.