Toronto real estate market has seen the effects of a confluence of policies: Ontario’s Fair Housing Policy, including a foreign buyers’ tax aimed at cooling the market; a new mortgage stress test targeted at protecting Canadians from dangerously high household debt levels; and the Bank of Canada’s moves to increase interest rates. […]
OFSI
Analyzing condo investors of Toronto market, a new study finds
What are the characteristics of the new pre-construction condo buyers in Toronto’s property market? These buyers buy out the most and best condo units in the condo building towers during the pre-sales period from the hundred of new condo builders across Toronto area. Close to 50 per cent (50%) of the mortgages […]
GTA home sales went down 40% in March, 2018 when compared to March, 2017
GTA home sales went down 40% in March, 2018, and the average price also declined by 14 per cent, according to the latest Toronto Real Estate Board report. TREB reported 7,228 residential transactions in March, 2018 in the GTA, a large decrease from the record 11,954 sales reported in March 2017. The monthly […]
Real estate prices are declining in Toronto, is a market crash in the wind
Post Title: Real estate prices are declining in Toronto, is a market crash in the wind Max Seal’s Comments: The title of this post says it all. In March, 2018, the media reporters are competing for catchy “going-down-the-hole” negative headlines to describe crashing of Toronto housing prices. Just 1 year ago back in […]
OSFI’s new mortgage rules decreases home affordability
OSFI’s new mortgage rules decreases home affordability. OFSI’s (Canada’s banking regulator) has published final guidelines for its mortgage qualification rule. It will impose tighter standards on the uninsured market. Lenders will be required to “stress test” all uninsured mortgage loans at the greater of the Bank of Canada’s five-year (5) posted rate or 200 […]
