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Top 12 Real Estate News Stories From Oct. 17 – Nov. 1, 2017

Our CondoNow experts have narrowed down the top 12 real estate news stories from Oct. 17 – Nov. 1, 2017.

From the introduction of Toronto’s first tech-focused neighbourhood to battling Canada’s homebuyers debt to the latest in condominium ownership trends, we’ve cultivated a list of the top 12 stories. Here’s the latest news!

DEVELOPMENT UPDATES

 

Google Headquarters to Headline Toronto’s Plan For a High-Tech Waterfront Community

Toronto’s eastern waterfront will be home to a brand new high-tech neighbourhood called “Quayside”.
Full Story On GlobalNews.Ca

 

 
The Next Hot Neighbourhoods

There’s hope for non-millionaires who just want a half-decent house in a nice area with good schools. Our GTA-wide ranking of the top 20 places to buy now.
Full Story On TorontoLife.Com

 

Toronto-York Spadina Subway Extension Lures Crowds With Station Sneak Peeks

TTC holds open house at three of the new stations on the long-awaited Toronto-York  Spadina subway.
Full Story On TheStar.com

 

MONEY MATTERS

 

Why The Governor of The Bank Of Canada Worries About Your Debt

Bank of Canada Governor Stephen Poloz says, “While the economy is doing well, the ‘debtors club’ is growing…Mostly from first time home buyers taking on hefty mortgages”.
Full Story On CBC.Ca

 

Purchasing Your First Home Before January 1, 2018 May Immediately Be On Your To-Do List and Here’s Why

According to the Office of the Superintendent of Financial Institution (OSFI), tougher mortgage qualifying rules will take effect as soon as January 2018.
Full Story On CondoNow.Com

 

 

Bank Of Canada Caution on Rates A Mistake As Debt Swells, Dodge Warns

Former bank governor says keeping rates low only encourages Canadians to pile on more debt, putting financial stability at risk.
Full Story On FinancialPost.Com

 

FORECASTS & TRENDS

 

Fist-Time GTA Home Buyers Take To The Skies In Condos

Condominiums house more than 20% of Torontonians and 13% of Canadians, according to the latest census.
Full Story On TheStar.Ca

 

This Has Happened to GTA Condos For The First Time Since 2015

The unsold inventory of new condo units in the Greater Toronto Area has increased for the first time since the end of 2015.
Full Story On Repmag.Ca

 

 

Pre-Sales Of New Low-Rises In Toronto Take Steep Dive

Preconstruction sales of new low-rise homes fell 73 per cent in the Toronto area in September compared with a year earlier.
Full Story On TheGlobeAndMail.Com

 

 

Toronto, Vancouver Monthly Home Sales Up

Canada’s two hottest housing markets experienced above average home sales last month, according to local real estate board figures.
Full Story On InsideToronto.Com

 

 

Canada To Welcome Nearly One Million New Immigrants Through 2020

Nearly one million new immigrants will settle in Canada between 2018 and 2020, under what the immigration minister has labeled, “the most ambitious immigration levels in recent Canadian history”.
Full Story On CicNews.Com

 

One Last Gasp For The Canadian Residential Market As Rule Changes Cloud 2018 Outlook

Realtors are predicting a busy Christmas selling season as homebuyers rush to beat the latest deadline to further cool the market.
Full Story On FinancialPost.Com

 

 

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