In our previous discussion, we explored Canada’s ambitious housing action plan, specifically focusing on the initiative to build more homes faster. Today, we shift our attention to the third crucial element of the Canadian housing plan: supporting renters, buyers, and homeowners. As we explore these initiatives, the question looms large: Will these...
Toronto, often touted as one of Canada’s premier cities, has recently solidified its global standing, claiming the 23rd spot on the list of the world’s best cities. This recognition places Toronto at the pinnacle of Canadian urban living, prompting many to wonder about the best areas within the city and the associated costs of residing in these nei...
In the recent Fall Economic Statement for 2023, the Canadian government unveiled a comprehensive strategy to address the pressing issue of housing affordability. Chapter one of the statement is dedicated to “Canada’s Housing Action Plan,” a forward-looking initiative aimed at mitigating the housing crisis and restoring affordability for Canadians...
The year 2023 unfolded as a compelling chapter in the Toronto real estate market. In this blog post, we will explore five key aspects that defined the year and what’s in store for 2024.
Interest Rates and Market Dynamics:
One pivotal factor shaping Toronto’s real estate landscape in 2023 was the influence of interest rates. The Bank of Canada’s decis...
As of January 1, 2024, the city of Toronto is set to introduce a new Municipal land transfer tax on properties exceeding three million dollars. In this blog post, we will delve into the specifics of these taxes, their potential impact on housing affordability, and the broader implications for the city’s revenue.
As we step into 2024, a significant number of mortgages are approaching their renewal dates. Let’s explore the potential costs associated with mortgage renewals, particularly for those who secured their mortgages in 2019, as it’s been 5 years since.
Before exploring the some basic renewal costs, let’s talk about some ground rules:
