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Friday , 31 October 2014

Category Archives: Market News

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News with a focus on real estate, finance and the marketplace

Hire someone sight unseen? People do, when it comes to realtors

No one denies that when you enter the marketplace, you get what you pay for. You buy something cheap because, well, you’re cheap, and you run the risk. It falls apart, stops working, doesn’t do what it was supposed to do. But you walked into the deal with your eyes open, no one forced you to buy it, you have only yourself to blame, etc., etc., etc. Luckily, that’s not the way it is when we buy and sell real estate. Or is it? Real estate brokerage Zoocasa and Survey Sampling International did a survey and found that just half of Ontario home buyers and sellers felt confident that they ... Read More »

Urbanization driving condo boom, mixed-use development: PwC

Despite the title, Emerging Trends in Real Estate, urbanization is no longer an emerging trend, but rather the new normal. That is the conclusion of PwC’s latest annual survey of Canadian and US real estate markets. “No shocks and few surprises,” on the Canadian side. The year 2015 will be “steady,” with the Canadian economy delivering “stable, modest growth,” creating low-risk conditions that are “ideal” for real estate developers and investors. Urbanization, says the PwC report, continues to be a key force in shaping the real estate markets. People are “flooding” into cities to be close to work and entertainment, and companies and retailers are following them. The projected population increase ... Read More »

No signs of bubble in Canada’s housing market: report

A just-released report on the new home market in Canada seeks to put to rest any worries that the market is either being overbuilt or overvalued. Ben Myers, SVP Market Research and Analytics at Fortress Real Developments, states categorically, “There is no bubble in the Canadian housing market.” Myers’ report, The Market Manuscript, looks at several major markets across Canada, including Toronto. Myers has also created a short video presentation to explain his position about the absence of a housing bubble. Defining a bubble as rapid increases in valuations of real property until they become unsustainable and then decline, he puts out a simple argument. Based on Statistics Canada’s New ... Read More »

New mortgage organization to assist investors

A new professional association for the mortgage industry has been formed, the non-profit Association of Mortgage Investment Professionals (AMIPROS). As the name suggests, the group’s aims are to assist and advise investors looking to place their money in mortgages. The group will bestow three designations based on completion of a core course in investor protection and two specializations. The two main specializations, which cover the main options open to investors, are private and syndicated mortgages, both of which have seen “dramatic growth” in Canada, AMIPROS says, since 2008 when the government began to make changes to mortgage lending practices. The head of the new organization, Joseph White, says that compared to ... Read More »

Condo sales, rentals booming in third quarter

Two new quarterly reports from the Toronto Real Estate Board highlight the continuing growth in Toronto’s condominium market. One report summarizes sales of existing condos over the key summer months, July through September. During that time, condo sales rose 12.9 per cent on a year-over-year basis: 5,954 condo transactions went through TREB’s MLS system in the third quarter. New listings of condos for sale were also up (4.5 per cent) compared to a year ago. TREB president Paul Etherington said that despite the record-high levels of new condo completions over the past two years, “we have not experienced a glut of inventory.” In other words, there have been enough buyers ... Read More »

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