Why we won’t see a rash of Canadians defaulting on mortgages

Why we won’t see a rash of Canadians defaulting on mortgages

Canadians will run up their credit cards, fall behind on their utilities and juggle car payments. The one thing they don’t do in significant numbers is fall behind on their mortgage payments. GTA residents rattled by rate hikes and inflation can take some comfort in mortgage delinquency numbers that show that losing a home to … Read more

Why selling our Toronto home to be mortgage free didn’t work

Why selling our Toronto home to be mortgage free didn’t work

Real estate is emotional. Why? Because a home is more than walls and a roof, it’s a container for our lives, our families, our communities. As part of an occasional series, we’ve asked local writers to share their stories on real estate and housing. It was spring 2021 and houses in our East York area … Read more

GTA rents in May see largest monthly price hike in more than three years

GTA rents in May see largest monthly price hike in more than three years

GTA rent prices in May saw the largest monthly hike in more than three years at 5.7 per cent as supply tightens and demand surges. A new report by Bullpen Research & Consulting and TorontoRentals.com found the average monthly rent in the GTA increased by 16.5 per hundred year-over-year, from $1,998 in May 2021 to … Read more

Canada needs 5.8 million new homes by 2030 to bring prices down to affordable levels, CMHC says

Canada needs 5.8 million new homes by 2030 to bring prices down to affordable levels, CMHC says

New homes are built in a housing construction development in the west-end of Ottawa on May 6, 2021.Sean Kilpatrick/The Canadian Press Canada needs an additional 5.8 million homes by the end of the decade to help lower average home costs and ensure households are not spending more than 40 per cent of their disposable income … Read more

From 30 per cent drops to 12 per cent jumps — why some GTA real estate markets are hot while others not

From 30 per cent drops to 12 per cent jumps — why some GTA real estate markets are hot while others not

In May, home prices in the GTA showed which areas are hot and which are not. Across the board, although home prices rose 9.4 per cent on an annual basis, May was the third consecutive month-over-month drop, down around three per cent from April, according to the latest report from the Toronto Regional Real Estate … Read more

Canadian cities unaffordable for young residents: report – National

Canadian cities unaffordable for young residents: report – National

Since leaving Aurora, ON, six years ago to go to university in Vancouver, BC, 23-year-old Riley Cunningham has moved around the city five times. “I didn’t realize how expensive it is to live here,” she/they said, speaking to Global News on Sunday. Most places Cunningham has come across have been way too expensive or have … Read more

Here’s where you can still buy a $200,000 house in Canada

Here’s where you can still buy a 0,000 house in Canada

Looking to buy a house but not willing to shell out a million bucks on a decrepit Toronto bungalow that might be falling apart? Perhaps you should be looking at a little house on the Prairies. In recent years, Toronto’s housing market has effectively priced out a large segment of the population, with many young … Read more

Vancouver could be on cusp of a ‘generational change’ as city council eyes approval of Broadway, Vancouver plans

Vancouver could be on cusp of a ‘generational change’ as city council eyes approval of Broadway, Vancouver plans

Vancouver city council is expected to make a decision on whether to approve a condo tower at the corner of Granville and Broadway in a neighborhood that has never had that kind of density.JENNIFER GAUTHIER/The Globe and Mail In the past 30 years, Vancouver has added enough people to its downtown peninsula to fill up … Read more

Cheaper housing one reason more Ontarians are moving to Quebec

From 30 per cent drops to 12 per cent jumps — why some GTA real estate markets are hot while others not

For the first time, longtime Torontonian Andrew Usher is considering buying a home. The reason? He moved to Montreal. In March 2021, Usher uprooted his decade-long life in Toronto’s west end to pursue a degree at Concordia University while continuing to work full-time remotely at his Toronto IT job. Noticing condo prices were drastically lower … Read more

Home developers bet big in small town Ontario

Home developers bet big in small town Ontario

People walk by the site of The Brix condos in Creemore, Ontario on May 3.Tannis Toohey/The Globe and Mail Real estate developers are speeding up their expansion into smaller Ontario cities and semi-rural areas, signaling the next wave of investment in housing in a country struggling with a shortage of affordable places to live. They … Read more