Government-Induced Land Shortage' Caused Toronto Housing Crisis: Study

By: Alfredo DiGenova

Government-Induced Land Shortage' Caused Toronto Housing Crisis: Study

Tags: As Ontario’s provincial government brings in new rules aimed at cooling the province’s overheated housing markets, a report argues the government is to blame for the crisis in the first place.

The report from Ryerson University’s Centre for Urban Research and Land Development says the 2006 Places To Grow plan for the Greater Golden Horseshoe Area left too little space around the region to build single-family homes, and mandated too much land to build condos. "There has been a marked mismatch between the types of units brought to the market and the types demanded,&q...Read More

CMHC keeps real-estate market risk at ‘strong’

By: Alfredo DiGenova

CMHC keeps real-estate market risk at ‘strong’

Tags: The Canada Mortgage and Housing Corp. says overvaluation has decreased to only six of 15 markets, rather than eight.

TORONTO—Canada’s federal housing agency says evidence of overvaluation has moderated in the country’s real estate markets, but the agency is still maintaining a “strong” overall risk rating. Canada Mortgage and Housing Corp. (CMHC) says evidence of overvaluation at the national level has been downgraded to moderate, from strong. CMHC says overvaluation — which...Read More

Toronto real estate listings jump in short-term ‘cool-down’

By: Alfredo DiGenova

Toronto real estate listings jump in short-term ‘cool-down’

Tags: The price of homes continued to rise last month, to an average of $920,791 for all types of housing in the Toronto region — but re-sale listings also jumped 33 per cent.

    The price of Toronto-area homes continued to rise last month — up 24.5 per cent to $920,791 on average for all types of housing — despite an influx of 33.6 per cent more re-sale listings in the traditionally busy spring market. That means more choice for consumers and healthy sale prices for sellers, say realtors. But whether the increased choice for buyers is due to...Read More

Buyers, sellers brace for an unprecedented spring real estate season in Toronto region

By: Alfredo DiGenova

Buyers, sellers brace for an unprecedented spring real estate season in Toronto region

Tags: Buyers can expect mad competition for homes to continue.

  Pity the poor house hunter seeking shelter in a spring real estate season like none in memory in the Toronto Region. Spring is traditionally the hottest season when it comes to home sales. But this year’s soaring prices and frenzied bidding wars come with an additional layer of anxiety as governments, realtors and consumers grapple with how to best respond to high-level warnings th...Read More

By: Alfredo DiGenova

Tags: The national average price for homes sold in March this year was $548,517, up 8.2 per cent from a year ago according to the Canadian Real Estate Association.

    The number of Canadian home sales hit a record high last month with the sizzling Toronto-area market pulling up the rest of the country, according to the Canadian Real Estate Association (CREA). "Toronto always swings the biggest bat The number of Canadian home sales hit a record high last month with the sizzling Toronto-area market pulling up the rest of the country, acc...Read More