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Monday , 25 May 2015

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More records set in new-home market in April

April will surely go down as a landmark month for Toronto real estate, with records, not all of them good, set in several areas. First we had the record-breaking resale numbers for the month, with 11,303 sales reported by the Toronto Real Estate Board, an increase of 17 per cent over the previous year. Now the Building Industry and Land Development Association (BILD) has released sales numbers for new homes, and they are impressive. Sales of new detached, semi-detached and townhouses were up 38 per cent compared to one year ago, and 39 per cent above the ten-year average. A total of 2,612 new low-rise homes were sold in April, according ... Read More »

Condo owners survey adds to understanding of investor activity

The second Canada Mortgage and Housing Corporation (CMHC) Condominium Owners Report focused on the most “accessible” group of real estate investors, ordinary homeowners who live in the city where they own one or two properties. In this case, the city is either Toronto or Vancouver. The survey shows that just under one in six condo owners in the two markets (16.2 per cent) own at least one secondary condo unit in addition to their primary residence. While generating rental income is the most common reason (53.9 per cent) for purchasing a secondary condo, another common reason is family use. Unfortunately, due to several factors, including cost considerations, the survey did ... Read More »

Realtors better be social media savvy to reach Gen Y home buyers

Given their enormous economic clout, estimated at as much as $700 billion in spending power in the US, it’s not surprising that the millennial generation, also known as Generation Y, is so studied and scrutinized. Everybody, especially every marketer, wants to know what the millennials think, like, prefer, believe, assume, reject, as well as how they spend, shop, save, invest, make decisions, choose and plan. Interest in this group of twenty- and thirty-somethings is particularly keen among real estate professionals. Generation Y comprises the largest share of home buyers at 32 per cent, according to the National Association of Realtors in the US, and the largest share of first-time buyers ... Read More »

Bike Month kicks off with Bike to Work Day, May 25

Whether you know a sharrow from an echelon, your shifter from your stem, chances are you have at some time in your life ridden a bicycle, and perhaps still do. According to the City of Toronto, more than half of Toronto residents (54 per cent) use a bicycle. Since about the same percentage of all trips we take daily are shorter than seven kilometres, which is less than thirty minutes by bicycle, it would be good if even more of us used the bikes. That at least is what the city says, as it prepares to launch this year’s Bike Month with “Bike to Work Day” this Monday, May 25. ... Read More »

Household debt no worry, we’re managing: Fraser Institute

Canadians, it seems, are constantly being beaten up by economists, bankers and government ministers, as well as scared by “alarmist” headlines, for the large, even irresponsible, amount of consumer debt we carry. Do we deserve the beating? Not according to the Fraser Institute. Its latest research bulletin states that there is “little evidence” that Canadians are being irresponsible in our willingness to take on debt. In fact, though debt load is increasing, assets and net worth are increasing faster. As a matter of fact, it’s governments who need to learn about debt management, not the average household. The Fraser Institute paper says it wants to put Canadians’ household debt in ... Read More »

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