What are the characteristics of the new pre-construction condo buyers in Toronto’s property market? These buyers buy out the most and best condo units in the condo building towers during the pre-sales period from the hundred of new condo builders across Toronto area. Close to 50 per cent (50%) of the mortgages then […]
mortgage financing
GTA home sales declined 40 per cent in March, 2018 compared to March, 2017
GTA home sales declined 40% in March, 2018 in 12 months from March, 2017 and the average price also declined by 14 per cent, according to the latest Toronto Real Estate Board report. TREB reported 7,228 residential transactions in March, 2018 in the GTA, a large decrease from the record 11,954 sales reported […]
Real estate prices are falling in Toronto, is there a crash in the way
Real estate prices are falling around Toronto, is there a crash in the way Max Seal, Broker’s Comments: The title of this post says it all. In March, 2018, the media reporters are competing for catchy “going-down-the-hole” negative headlines to describe crashing of Toronto housing prices. Just 1 year ago back in […]
OSFI’s new mortgage rules will decrease home affordability
OSFI’s new mortgage rules will decrease home affordability. OFSI’s (Canada’s banking regulator) has published final guidelines for its mortgage qualification rule. It will impose tighter standards on the uninsured market. Lenders will be required to “stress test” all uninsured mortgage loans at the greater of the Bank of Canada’s five-year (5) posted rate or […]
Toronto Detached Home Prices Down $200,000 From Higher Prices
Toronto’s detached real estate is having another rough month. Numbers from the Toronto Real Estate Board ( TREB) has been demonstrated that buyer indecision and substantial downward pressure to the detached home segment in July, 2017. Generally speaking, detached homes across TREB market area showed lower prices, less sales, and more inventory. Prices […]