Home ownership is Critical to national housing Plan, report urges

A new report urges the federal government to encourage greater home ownership as a fundamental feature of the forthcoming national housing plan. Canada’s home ownership rate dropped at 67.8 percent in 2016, down slightly from 70 percent in 2011. The in the Macdonald-Laurier Institute admits that its recommendations go against the grain of current thinking […]

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Within the unregulated world of Newspaper flipping in Canada

Each day, condominium developers in the nation’s hottest markets turn to the world wide web to track down an odd breed of opponents: their own customers hoping to flip preconstruction units without consent. Builders in Toronto and Vancouver say their employees are always on guard for unauthorized advertisements or pre-sale flips in an attempt to […]

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CRA probes presale condo flips in Toronto as part of real estate crackdown

Federal government auditors are inspecting 2,800 preconstruction condo flips from the Toronto area as part of a crackdown on tax evasion in the real estate market. The Canada Revenue Agency obtained court orders last year forcing 44 condominium developers to hand over information about individuals who offered their components before projects were finished, a practice […]

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Protectionism, tariffs could slam housing market, CMHC warns

A tide of anti-globalization that contributes to widespread protectionism and increased tariffs can cause Canadian house prices to fall by more than 31 percent in the next five decades, according to the results of scenario tests by Canada’s national housing agency. Canada Mortgage and Housing Corp., which insures mortgages against defaults, published the results Wednesday […]

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Google’s Sidewalk Labs signs deal for ‘smart city’ makeover of Toronto’s waterfront

A unit of Google’s parent company, dedicated to urban invention, has signed a deal to map out a new sort of neighbourhood on Toronto’s waterfront that could demonstrate how data-driven technology may enhance the quality of citynbsp;life. On Tuesday, Sidewalk Labs, a division of Alphabet Inc., and the government agency Waterfront Toronto announced a partnership […]

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RBC CEO backs new measures to help cool housing markets

Royal Bank of Canada’s chief executive voiced support for new rules to help cool hot housing markets a day before Canada’s banking regulator is expected to unveil new stress tests for uninsured mortgages. Dave McKay believes further dampening of the explosive growth in housing prices across the Toronto and Vancouver markets “is in all our […]

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Housing starts slide as Toronto real-estate market continues to cool

The downturn in Toronto’s property marketplace is spilling into the market for newly constructed houses as contractors face weaker demand, particularly for more costly detached houses. Since the Ontario government announced a package of measures in late April to cool the overheated housing market in Toronto, builders of ground-level houses — such as detached and […]

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Rental rush: pension funds flock to apartment buildings

Following the financial crisis battered the U.S. market in 2008 and 2009, the real estate investing group at Quebec’s public-sector pension manager detected an interesting trend in its portfolio of holdings. The Caisse de dépôt et placement du Québec possessed a set of apartment buildings in New York, the epicentre of the global financial collapse. […]

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B.C.’s foreign buyer  Taxation has some Searching for a loophole

British Columbia’s debut of a foreign-buyer real-estate tax dropped a bucket of freezing water on Vancouver’s smoking hot market just over a year ago. Average house prices instantly fell, declining for six months before showing signs of renewed energy in April andnbsp;May. A Globe and Mail examination of court documents and advertisements reveals several manners […]

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Toronto house-price slump ends with September rise

Greater Toronto home prices jumped in September as buyers appeared to put an end to a slump that began in the spring with government measures to cool a scorching real-estate market. The Toronto Real Estate Board (TREB) said the average GTA home sold for $775,546 in September, up 5.9 per cent from August’s average of […]

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