Sales of single-family detached homes commanding prices of at the least$ 1-million have almost doubled in 2017 in the Greater Toronto Area, as economists elevate the spectre of a real estate bubble. The GTA produced 2,876 sale of detached properties of $ 1-million or more in January and February in 2017, compared with 1,548 […]
price appreciation
More housing are needed, just not a tax on foreign home buyers
Housing prices in Toronto went through the roof long before governments started toying with a levy on foreign property buyers. While attractive for politicians, whose first have responded to any problem is to tax it, the above issues has been decades in the making, matching a chronic absence of housing supply to ever-increasing demand, […]
Even Toronto’s Top 1 per cent Earners Are Being Priced Out Of Housing Sell, BMO Says
Taking into account the “stress test” for mortgages that the federal Liberals instituted last year, Porter estimated that a couple earning $225,000 with $100,000 for a down payment would be able to buy a residence of $987,289. The median rate of a single-family house sold in Toronto in February was $1.57 million. “It […]
The problems of runaway house prices in Toronto
We need the facts about the extent to which foreign buyers are driving up real estate prices in Toronto. It’s time for the federal and provincial governments to collect the necessary data on the sale of housing to foreign-based buyers. Without reliable data and figures, it’s impossible to set policy, protect the dream of […]
Foreign buyers behind merely 5 per cent of Toronto home sales in 2016
Don’t blame overseas investors for the high price of housing in the Toronto area, tells the Toronto Real Estate Board (TREB). The board has released new research stating fewer than 5 per cent of the 113,133 residential real estate transactions in the Toronto region in 2016 involved foreign buyers. More than half of those foreign buyers were […]
