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Max Ortoli & Nikki Lobello
Sales Representatives
mortoli@trebnet.com

Homelife Romano Realty Ltd.
Brokerage
Independently owned and operated.

Max Ortoli & Nikki Lobello Sales Representatives

Homelife Romano Realty Ltd. Brokerage

Independently owned and operated

3500 Dufferin St., Suite 101, Toronto Ontario, M3K 1N2

Direct: 416-970-0352

Phone: 416-635-1232

Fax: 416-636-0246

Inbox: September 9-13, 2019

September 13, 2019 - Updated: September 13, 2019

Photo: Alexandru Gogan

In The News

 

September 9-13, 2019

 

Toronto & GTA

 

As Toronto rents surge, why aren’t we building more apartments?

 

It is definitely a landlord’s market out there. A lack of inventory continues to spread across primary and secondary rental markets with wait lists and bidding wars.

 

More than 650 affordable housing units proposed for Toronto

 

To activate development of 651 affordable housing units, the City of Toronto is offering to subsidize the constructions costs “to a tune of $12.3 million and offer another $38.3 million in incentives including waived development fees.

 

LEVY: TCHC is the best definition of insanity

 

A recent report shows that Toronto Community Housing Corporation (TCHC) that outstanding arrears have increased 12.3 per cent over the twelve months ending in July 2019. With an average arrears of $3,640, the amount equates to nearly ten months of rent.

 

Toronto leads new housing starts in August

 

Canada Mortgage and Housing Corp reported that at 81,457 units, Ontario experienced the largest increase with seasonally adjusted starts. Multi-unit home starts in August led the way with strong pre-construction condominium apartment sales.

 

 

Canada

 

Vancouver home prices are falling and condos are delayed, but industry says real estate recovery on the way

 

Developers are cutting back on the supply of pre-construction units by postponing launch dates to 2020 of a number of delayed projects. Competitively priced one-bedroom condos and supply below $1.5 million with an income-suite are the products moving quickly.

 

One in five millennials have lied on a mortgage application: Equifax

 

Nineteen per cent of millennials surveyed admitted to being dishonest on their credit loan application.

 

Chartwell builds now to meet future seniors housing needs

 

Despite a short-term oversupply of seniors housing in some market, Chartwell Retirement Residences (CSH-UN-T) has opened three properties this year with nine more upcoming developments to scale for future demand. In the first half of this year, Chartwell’s residences sat at a 90.2 per cent occupancy rate.

 

Canadian housing starts trended higher in August

 

"Higher trending single-detached starts in urban centres in July and August following roughly a year of declines combined with higher-trending multi-family units in August to push the total starts trend to its highest level since June 2018,” according to CHMC’s chief economist, Bob Dugan.

 

 

‘We’re going to skirt recession’: BMO’s Gregory

 

Economist Michael Gregory argued that Canada will avoid a recession despite low productivity, global trade tensions, and high consumer debt. Historically low interest rates combined with a growing population and comparatively benign government debt that has Canada’s annual deficit at about six-tenths of one per cent of GDP.

 

Ontario led the way in employment gains in August

 

Employment in the finance, insurance, real estate, rental and leasing industry grew by 22,000 in August, or 3.9 per cent. Ontario led the way in terms of job gains across the nation. Employment in Ontario increased 3.5 per cent year-over-year. Saskatchewan saw gains in various service-producing industries; Manitoba in professional, scientific, and technical services;  Quebec in finance, insurance, real estate, leasing; and New Brunswick in information, culture, and recreation.

 

 

USA

 

This could 'end very badly': Trump officials warn on mortgage finance

 

The US federal government is looking to reduce their exposure to the real estate market. It is argued that Fannie Mae and Freddie Max are severely undercapitalized and lending standards have deteriorated since the Great Recession.

 

America's home price growth continues to slow as economic tension heightens

 

Inventory across the US declined 1.8 per cent year-over-year in August. Price growth is slower than 2018; however, the median home list price increased 4.9 per cent.

 

 

International

 

 

Canadian Real Estate Near Bottom Of Global Rankings, But Maybe Not For Long

 

More countries and territories are seeing price rises year-on-year than at any time in the last decade, but the average rate of growth is slowing significantly as global uncertainty continues.

Three years ago Canada held third spot and has now fallen to 49th out of 56 national housing markets included in the Knight Frank Global House Price Index, which ranks countries by annual home price changes each quarter.

 

 

How Hong Kong’s Sky-High Home Prices Feed the Unrest

 

Prices have risen 48% in five years and it now takes 21 years of an average household income to save to purchase a home. Less than a quarter of the territory is developed, with 40 per cent of it country parks or nature reserves. Land sales comprised 27% of government revenue in 2018 and the introduction of more government-subsidized apartments, is still not enough to keep pace with demand.


Tagged with: real estate real estate news toronto real estate canadian real estate international real estate united states real estate us real estate
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