Category: Toronto Business Posts

Category: Toronto Business Posts Canada housing market has become riskier, IMF has warned

  Canada’s housing market has become riskier over the past two years, with risk levels similar to those seen during the financial crisis a decade ago, the International Monetary Fund (IMF) said in a report released this week.   But there is good news: The measures Canadian policymakers have taken over the past several years — particularly foreign buyers’ taxes and tough new mortgage rules — are the right ones to prevent a debt crisis, the report suggested..   In its latest Global Financial Stability Report, the Washington-based agency dedicated to global financial co-operation said the U.S. and Canadian housing

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Category: Toronto Business Posts TREB Published January, 2019 Resale Market Figures

  TREB Published January, 2019 Resale Market Figures   Toronto Real Estate Board announced that Greater Toronto Area REALTORS® reported 4,009 home sales through TREB’s MLS® in January 2019 – up by 0.6 per cent compared to January 2018. On a preliminary seasonally adjusted basis, sales were up by 3.4 per cent compared to December, 2018. “It is encouraging to see the slight increase in January transactions on a year-over-year basis, even with the inclement weather experienced in the GTA region during the last week of the month. The fact that the number of transactions edged upwards is in line

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Category: Toronto Business Posts 40% of Canadians are paying no income taxes, Prime Minister Trudeau knows this is right

  40% of Canadians are paying no income taxes, Prime Minister Trudeau knows this is right   The top 20 per cent is likely paying 70 per cent or more of all income taxes   Trudeau was speaking the complete truth when it comes to income taxes (HST, realty taxes and other consumption taxes are another story). It is just a truth that he may not want many Canadians to know.   On average, two of every five Canadian households do not pay anything towards federally and provincially funded expenses such as health care, education, community and social services, national

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Category: Toronto Business Posts Toronto downtown is benefiting from ‘Hyper-concentration’ of knowledge jobs in an economic shift

  A fundamental economic shift is Toronto downtown is benefiting from ‘Hyper-concentration’ of knowledge jobs in an economic shift as traditional manufacturing employment evaporates across much of southern Ontario, a new report warns, and the trend has major ramifications for public transit and land-use planning.   The study, released days after General Motors announced the shutdown of its assembly plant in Oshawa, Ont., says the lopsided job growth is a permanent change, not a cyclical pattern. It warns Toronto’s transit system will be placed under further strain. The report also argues smaller communities outside the city should seek to attract the

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Category: Toronto Business Posts New Rent control rules may spark return to sky-high rent increases for Toronto tenants

  New Rent control rules   With new Rent control rules and the province of Ontario scrapping rent control for new units across Ontario as of November 15, 2018, affordable housing advocates are warning that the changes could may spark return to sky-high rent increases for thousands of Toronto tenants.   The Progressive Conservative government revealed the details on November 15, 2018 through the fall economic statement, announcing legislation which ends rent control for all newly-built or newly-converted rental units going forward — while maintaining rent control for current tenants — as part of a new Housing Supply Action Plan.   “Everybody who’s

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Category: Toronto Business Posts Money-laundering concerns in Canadian real estate

  In Canadian real estate, an in-depth review of Canada’s anti-money-laundering efforts has uncovered serious concerns that organized crime is using the country’s hot real estate sector to illegally funnel cash. The report from the Paris-based Financial Action Task Force makes special note of real estate as an area of the economy with a high risk of illicit activity, one of a few weak spots in what the report calls a comprehensive federal regime to combat money laundering and terrorist financing. The charitable and life insurance industries are also identified in the report as sectors at risk of providing financial

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Category: Toronto Business Posts Canadians like to drink more coffee than others in the world

  It’s Friday morning at a Tim Hortons in downtown Toronto. The place is hopping with customers eager to get their caffeine fix. Yes, Canada loves its coffee, more so than most other countries in the world.  Out of 80 countries, Canada ranked No. 1 in 2015 when tallying up how many litres of coffee per capita we gulped down at food service joints like cafes. In Canadian business, Canada also scored third highest for the total amount of brewed coffee we consumed both inside and outside the home — an average of 152 litres per person. The statistics were compiled by global marketing research

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Category: Toronto Business Posts Royal Bank Monitors A Close Eye On Housing In Toronto, Vancouver

  In toronto real estate, Royal Bank CEO David McKay says the lender is “closely monitoring” the real estate markets in Vancouver and Toronto, where home prices have been climbing at a breakneck pace. “The short supply of single-family homes in both cities — coupled with strong demand fuelled by household formation, including net immigration — has driven strong price appreciation,” McKay said during a conference call to discuss the bank’s third-quarter results. “We have prudent underwriting practices in place and the necessary technology to closely monitor these markets and quickly react as situations may materialize.” In toronto mortgage, McKay

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Category: Toronto Business Posts RBC looks at how price growth happens

  In toronto real estate, many an armchair analyst has speculated on the factors behind Toronto and Vancouver’s runaway home values. And now, a recent study by RBC Capital Markets brings more data to the table. According to its report, home prices increased at a compound rate of 5.6% annually from 1999 to 2015 in Toronto and 6.2% in Vancouver, outperforming the S&P/TSX Composite total return of 5.3%. RBC’s analysis found that four factors accounted for between 85% and 90% of those price increases since 1999: Lower interest rates Higher incomes An increase in the percentage of incomes used to make mortgage payments Larger down payment gifts

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Category: Toronto Business Posts Renters causing demand for new Toronto highrise construction

  In Toronto real estate, a study by real estate consultant Urbanation and obtained by CBC News shows much of Toronto’s high rise construction in 2016 is being fuelled by demand from renters who are either unable or unwilling to pay record prices for real estate. It’s a significant change from the previous decade’s boom, which was spurred primarily by demand from would-be owners. According to the city of Toronto planning department, there were 28 highrise development applications in the first six months of 2016. That’s just slightly behind the pace for 2015, when the city received 59 applications for the year overall, and well above

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