In toronto real estate, Toronto’s housing market churned out another month of soaring price gains in July, 2016, fuelling concerns that it could be the next target of a tax on foreign investors. Almost 10,000 resale homes changed hands in the Greater Toronto Area last month, the highest recorded number for the month of […]
home affordability
Toronto suburbs looks more expensive than Toronto amid ‘acute shortage’ of homes
In toronto real estate, Toronto had another month of record-breaking home sales in July, 2016, but the city’s real estate board is warning of a “troubling trend” that is sending home affordability out of range. “While sales were up on a year-over-year basis, the number of new listings was down over the same period, […]
Toronto housing boom unsustainable, Bank of Canada says
Toronto homebuyers should not expect the frantic pace and blistering prices of the housing market to continue, warns the head of the Bank of Canada. “Prospective homebuyers and their lenders should not extrapolate recent real estate performance into the future when contemplating a transaction,” Stephen Poloz said Thursday with the release of the bank’s […]
High house prices making home ownership in Toronto and Vancouver unaffordable
Soaring home prices in Toronto and Vancouver are testing levels of affordability not seen since the early 1990s, when the country was in a recession and mortgage rates were north of 10 per cent. “In Toronto, we’re not as bad as 1990, but we’re not that far from it either,” said Robert Hogue, senior […]
