Our CondoNow experts have narrowed down the top 10 real estate news stories from Mar. 5 – 18, 2018.
From RBC Chief Executive’s stance on foreign cash in the Canadian housing market to B.C. introducing an anonymous ‘Realtor tip line’, to high-end home sales plummeting even as prices nudge up, we’ve cultivated a list of the top 10 stories. Here’s the latest news!
RBC Chief Sounds Alarm on Flood of Foreign Cash in Canadian Real Estate
Toronto, Canada’s biggest housing market, has been correcting over the past few months amid a slew of regulations put in place to steady booming prices and increasing debt.
Full Story on Bloomberg.com
End-Users Flooding Condo Market to Detriment of Renters
The new mortgage rules have redirected Toronto’s would-be low-rise home buyers to the condo market…deterring condo investors from purchasing units renters desperately rely on.
Full Story on CanadianRealEstateMagazine.ca
There’s a riddle at the centre of Toronto’s housing affordability crisis: What is causing huge chunks of the city to lose population at the same time as the overall population is booming? The answer…
Full Story on TheGlobeandMail.com
Toronto Condo Owner Discovers Unit Listed on Airbnb Behind Her Back — With More Than 70 Reviews
Units rented out without owners’ consent can violate condo, tenant legislation, experts say.
Full Story on CBC.ca
How Rampant Development and Poor Planning Left Residents of This Etobicoke Neighbourhood Stuck in Traffic
The Etobicoke neighbourhood of Humber Bay Shores has undergone rapid development in the past two decades, but transit infrastructure hasn’t come with it.
Full Story on TheStar.com
B.C. Sets Up Anonymous Tip Line For Reporting Shady Real Estate Agents
B.C. has created an anonymous tip line so consumers — and fellow agents — can report shady real estate agents to the provincial regulator.
Full Story on CBC.ca
Investing in Ontario Real Estate? These Cities Are The Best Bets
A new report from independent research think-tank Real Estate Investment Network (REIN) ranked Ontario’s largest metropolitan areas in terms of real estate market performance and suitability for investment over the next 5 years.
Full Story on MortgageBrokerNews.ca
Luxury Home Sales Plummet 58% in Toronto as High-End Sector Hit Hardest in Slump
But prices did inch up to a cool $4,201,873.
Full Story on FinancialPost.com