Mindblown: a blog about philosophy.
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Toronto’s Condo Market: A 40-Year Evolution
Toronto’s condo market has seen significant growth since the 1980s, with over 500 towers expected by 2030. Condo prices in Toronto average C$707,917 (US$509,215) in 2024, making it Canada’s second-most expensive market.
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Lowest among neighbouring municipalities: Proposed Oakville property tax increase approaching 5 per cent
Oakville's proposed budget for 2025 includes a property tax increase of 4.84% to 4.91%. The mayor emphasized that the budget supports growth and maintains essential services. The overall tax increase results from a projected 6% tax levy, offset by a zero percent education rate increase and a 5.99% rise in the Halton Region tax levy.…
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Average GTA Home Prices Climb 2.6% in Mid-Q4
GTA home sales surged 40.1% in November 2024, signaling a housing market recovery. New listings rose 6.6% annually, but slower growth led to tighter market conditions and price increases.
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Ontario Home Prices Set to Rise 5% in 2025
Ontario home prices are expected to ↑ 5% in 2025, driven by increased sales activity. First-time homebuyers will drive market activity, especially in more affordable regions across Ontario.
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Doug Ford awards $7 million in funding for Oakville housing
Ontario Premier Doug Ford announced $7.06 million in funding for Oakville from the Building Faster Fund, aimed at addressing housing needs. The fund rewards municipalities for meeting provincial housing targets as part of a three-year, $1.2 billion program. Ford presented the check at a Chamber conference, highlighting the role of local leaders in securing the…
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Tax Relief Needed for Toronto Home Buyers
GTA residents face high taxes, totalling over $200K on the avg home purchase. Proposed tax cuts, like removing GST on homes under $1M, could save buyers $40K.
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Buyers are still offering way under asking price for homes in most parts of Toronto area
Home sales in the Toronto area are gradually increasing after a prolonged slump, but buyers still hold significant negotiating power. As of October, 88% of the GTA is in "underbidding territory," with 70% of homes selling for less than the asking price. Despite a decline in bidding activity, there are signs of renewed buyer interest,…
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GTA Pre-Construction Investment Trends
Master-planned communities, combining residential units with commercial spaces and parks, attract diverse residents and investors. Infrastructure improvements and affordability in Scarborough and North York position them as key growth markets.
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Ontario’s New Rules Threaten City Planning Stability
Ontario cities fear new provincial rules allowing individual development applications could undermine long-term urban planning. The provincial planning statement mandates cities to evaluate ad hoc applications, increasing administrative costs and appeals.
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Oakville’s budget committee looking to speed up building permits
Oakville has improved its average building permit processing time to 31 business days in 2024, but challenges remain, particularly with incomplete applications and complex projects. As of August 30, 2024, 1,895 permit applications were submitted, with 38% requiring multiple submissions due to issues. In 2023, residential permits took an average of 54 days, while non-residential…
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