Mortgage rates will remain at historic lows until 2022: BMO Sean MacKay May 15, 2020 With anxiety mounting throughout March as the economic impacts of the COVID-19 pandemic intensified, Canada’s central bank took swift action to slash interest rates at several points during the month. The cut announced by the Bank of Canada on March 27th meant that the overnight rate — which...
COVID 19 pandemic prompts urbanites to rethink ‘grand bargain’ of dense city living By Giuseppe Valiante – THE CANADIAN PRESS On May 15, 2020 MONTREAL – The densely populated slums of Montreal’s Griffintown were the subject of a famous 1897 study by businessman and philanthropist Herbert Ames, whose work on the disease-ridden tenements influenced generations of urban planners on how to develop...
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It’s been weeks since thousands of purchase agreements were left in the lurch as three major Toronto projects developed by Cresford entered into receivership. In late March, PricewaterhouseCoopers (PwC) was appointed as the receiver and manager of assets for three of the luxury developer’s downtown projects: The Clover on Yonge, Halo Residences and 33 Yorkville. As no firm decisions have...
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According to the Toronto Regional Real Estate Board’s (TRREB) latest report, GTA home sales took a big hit in April. Overall home sales across the GTA – including Toronto – were down a drastic -67% year-over-year, with fewer than 3,000 total units sold. In fact, according to John Pasalis, President at Realosophy, the 2,975 GTA home sales were the lowest...
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...
