House sales fell 26 per cent in the Toronto region in May, 2017 after the Ontario government’s introduction of a foreign-buyer’s tax as many potential purchasers stepped back and waited to assess the market impact. In the 30 days after the province of Ontario announced the immediate introduction of a 15 -per-cent foreign-buyer’s tax on April 20, […]
low interest rates
Gap widens more between low-rise, high-rise housing prices, availability
The gap between the average costs of newly built low-rise and high-rise homes in the GTA got wider again in January, 2017. A brand-new single-detached house now costs twice as much as a stacked townhouse or condominium: $1,026, 395 to $507,551. The single-detached cost is up 25 per cent compared to a year ago; the condo […]
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, […]