New data from TD Bank suggests home prices in Toronto may increase by nearly 8% in the remainder of 2020, in light of the current state of both the economy and the real estate market. As said by TD Bank economist Rishi Sondhi, Canada had its first “real” taste of the impacts of the novel coronavirus in March despite the...
The Toronto Regional Real Estate Board has revised its2020 forecast of 10 per cent price growth as COVID-19 sent real estate sales plunging 69 per cent year over year in the first 17 days of April. The average selling price for homes also dipped 1.5 per cent to $819,665, according to a special mid-April market update released on Wednesday. The...
Nearly two years after a star-studded groundbreaking event attended by Robert De Niro and celebrity chef Nobu Matsuhisa, Nobu Residences is well under construction in Toronto’s Entertainment District. The two-tower development by Madison Group is situated at 15 Mercer Street and boasts a sleek two-tower design, anchored by a shared podium that integrates the heritage facade of the original Pilkington...
Irene Bao has let the dream of owning a downtown Toronto condo comfort her through her academic challenges and down days for four years. The PhD student from China, was proud to have saved enough money to buy a home in Canada’s largest city with money she earned from a fellowship and tutoring jobs. “That was all the money I...
As COVID-19 continues to disrupt every major industry, including the housing market, experts say they believe there’s a “low risk” that the effects of the pandemic will lead to a market collapse. According to a new report from RBC, the Canadian housing market experienced a slowdown in the last two weeks of March, and it’s expected to continue across the...
Click the link below for the market update to the end of March 2020. nr_market_watch_0320
Nearly half a million big-bank customers in Canada are getting to defer their mortgage payments amid the coronavirus pandemic, the Canadian Bankers Association (CBA) said on Friday. The country’s six largest lenders, taken together, have deferred more than 10 per cent of the mortgages in their portfolio so far, according to the report. RBC, TD, BMO, CIBC, Scotiabank and National...
Those facing charges under the province’s emergency laws will have to identify themselves to police and could face steep fines for non-compliance. The temporary power is being extended to police officers, First Nations constables, special constables and municipal by-law enforcement officers. The move was approved by the Ontario government Tuesday through an emergency order under the Emergency Management and Civil...
Buyers can’t get out of home purchase contracts because of COVID-19 “Force majeure” get-out clause doesn’t automatically apply to real estate contracts during pandemic, even if you lose income and no longer want to buy If you’re in the process of buying a home but have lost income due to COVID-19, don’t assume that you’ll be able to get out...
