Category: Uncategorized
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80K GTA Condos Under Construction
GTA condo sales decreased from 10K in 2022 to <1,500 in Q1 2024. Condo inventory piling up, absorption at 30-yr low.
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Oakville told to pay back federal housing money after it rejects density
The federal housing minister has requested Oakville to repay over a million dollars in funds after the town council, led by the mayor, rejected a motion to implement "gentle density" policies. Oakville is the first municipality in Canada to breach the agreement to allow greater housing density, risking the loss of federal funds. Continue to…
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Toronto Saw Increased Supply in Early Q2
Listings increased significantly in Toronto’s Real Estate Market in April 2024. In the GTA, there were 7,114 sales in April 2024, ↓ 5% yearly.
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Toronto Real Estate Spirals As Inventory Surges, Demand Hits Historic Low
Toronto real estate saw prices decline in May for the third consecutive year, with the most inventory in over a decade and the weakest May demand on record. The typical home price dropped 0.9% to $1,117,400, down 3.5% from a year ago. Home sales hit a low not seen since 2000, with just 7,013 sales.…
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Greater Toronto Condo Market Hits 15-Yr Low
Sales Performance: – Q1 2024: 1,461 condo sales, the lowest since Q1 2009 – Sales ↓ 71% in 10-yr New Launches and Pricing: – 958 units launched in early 2024 – Avg opening price for new condos: $1,168/sq ft
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Happy Father’s Day
Approximately 2.5 billion Father's Day cards are sent each year. Neckties have become a popular traditional gift for Father's Day. "World's Greatest Dad" is a popular Father's Day phrase. Breakfast in bed is a common Father's Day treat. Wishing a fantastic Father's Day to all the dads who strive to be the best versions of…
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Here’s how much it really costs to own home in Toronto
Buying a home in Toronto is costly, with average prices above $1 million. Besides mortgage rates, other monthly expenses like property tax, insurance, utilities, and an emergency fund impact homeownership costs. Maintaining an emergency fund and comprehensive insurance is crucial due to climate-related risks. Shopping around for the best mortgage rate and insurance policy can…
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Toronto: Biggest Jump in Required Homebuyer’s Income
The annual income required to secure and carry a mortgage has climbed another $3,400 MoM. Required income: – Mid-Q1: $214,100 – Late-Q1: $217,500