By: Belinda Lelli

CANADIAN HOME PRICES RISES TO SLOW DOWN

Tags: CANADIAN HOME PRICES RISES TO SLOW DOWN

The rising cost of homes compared to household incomes and rents will mean a slowdown in price appreciation, Fitch Ratings says. Noting the impact of low interest rates and foreign investment on the Canadian housing market, the ratings firm says that a 30 per cent increase in prices in Toronto and Vancouver in the past three years is unsustainable. The firm highlights the recent easing of price...Read More

By: Belinda Lelli

IMPORTANT CHANGES TO LAND TRANSFER TAX

Tags: IMPORTANT CHANGES TO LAND TRANSFER TAX

IMPORTANT Changes to  Toronto LTT APPROVED  - Effective March 1, 2017   City of Toronto Council has approved changes to the Toronto Land Transfer Tax that mean additional Toronto Land Transfer Tax costs for some home buyers with a closing date on or after March 1, 2017, when it will be harmonized with the provincial LTT. Click here to see the detailed City of Toronto Not...Read More

By: Belinda Lelli

ADDITIONAL ROADBLOCK HINDERING FOREIGN BUYERS

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Additional roadblock hindering foreign buyers   Chinese influence on Canada’s real estate market may be coming to an abrupt end due to new rules that lock their funds. The Chinese government announced surprise rules for the exchange of the yuan, which will restrict the outflow of currency.  “As capital flight intensified, China's reserves have plunged, causing t...Read More

By: Belinda Lelli

Retirement stash an increasingly popular source of financing - survey

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Retirement stash an increasingly popular source of financing - survey HomeNews by Ephraim Vecina10 Feb 2017 Canadians are withdrawing ever-larger amounts from their registered retirement savings plans to cope with the consistent growth of home prices in the country’s most overheated markets, according to a nationwide survey of 1,500 plan holders. Released on Tuesday (February 7)...Read More

By: Belinda Lelli

FOREIGN BUYER TAX AMENDED IN BRITISH COLUMBIA

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Foreign buyer tax amended HomeNews   British Columbia's premier has announced her government is amending its tax on foreigners buying property in Metro Vancouver. Christy Clark says the levy will be lifted for those who have a work permit and pay taxes in B.C., in order to encourage more people to come to the province. The 15 per cent foreign buyers tax was implemented last August i...Read More

By: Belinda Lelli

Condominiums a great long term investment

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The forecast for buyers does not bode well when compared to that for sellers.  Product supply has decreased, which is leading to a greater interest in renting.  The average person cannot afford to buy, and many are seeking to lease for a minimum of 5 years.     The most popular leases are 2 bedroom, new condominiums offering the ease of home living for a fraction of the pric...Read More

By: Belinda Lelli

FORECASTS FROM OUR CEO PHIL SOPER

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  THE TORONTO MARKET FORECAST IS BRIGHT   A Vancouver price correction is expected to contribute to more moderate home price growth across the country, according to a comprehensive report. But that doesn’t spell the end for the country’s former hottest market. “If were to call for an 8.5% correction in Ottawa or Montreal, that would be a huge deal. It would represe...Read More

By: Belinda Lelli

Should I Buy or Rent?

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To buy or not to buy, that is the age-old question. While there may not be a word one answer that covers all situations, there is an answer for everyone.   Renting vs Buying is a personal choice, but there are a few financial aspects of this decision that should be considered regardless of a pre-existing stance.   Do you have a downpayment available? This is really the...Read More