Plummeting Toronto Home Sales 'Exactly What The Region Needs'

By: Gaetana Nella Lanzellotti

Plummeting Toronto Home Sales 'Exactly What The Region Needs'

Tags: Plummeting Toronto

TORONTO — The Toronto Real Estate Board says home sales in the Greater Toronto Area plunged last month by 20.3 per cent as prices continued to climb. The board says the average selling price for all properties in May was $863,910, an increase of 14.9 per cent from the same month last year. -Advertisement- Sales of detached homes, which had an average selling price of $1,141,041, fell by 26.3...Read More

By: Gaetana Nella Lanzellotti

REAL ESTATE Rental of the Week: $5,500 per month for a semi with a Jacuzzi in the master bedroom

Tags: REAL ESTATE Rental

Address: 900 Adelaide Street West Neighbourhood: Niagara Agent: Daria Winnicki, RE/MAX Hallmark Realty Ltd., Brokerage Price: $5,500 per month, including utilities, cable and internet The place                                                         &nb...Read More

Toronto-area home prices climb 16.8% in June

By: Gaetana Nella Lanzellotti

Toronto-area home prices climb 16.8% in June

Tags: Toronto-area home prices climb 16.8% in June

The average price of a home in the Toronto region rose to $746,546 in June, up 16.8 per cent from the same month last year, as the supply of housing continued to decline, according to monthly statistics issued by the Toronto Real Estate Board on Wednesday.  (NAKITA KRUCKER / TORONTO STAR FILE    THE AVERAGE PRICE OF A HOME IN THE TORONTO REGION ROSE TO $746,546 IN JUNE, UP 16.8 PER...Read More

By: Gaetana Nella Lanzellotti

Indebted Canadians using 'homes as ATMs,' consumer agency warns

Tags: Indebted Canadians using 'homes as ATMs,' consumer agency warns

OTTAWA (Reuters) - Canadians are borrowing against their homes in increasing numbers and many are not making regular payments against the principal, adding financial stress to households already carrying a record level of debt, a consumer agency warned on Wednesday. The number of households that have taken a home equity line of credit (HELOC) on top of their mortgage has soared nearly 40 percent s...Read More

By: Gaetana Nella Lanzellotti

Toronto has too much housing despite overall population growth: report

Tags: Toronto has too much housing despite overall population growth: report

Don’t let the mushrooming condos downtown fool you. There is no housing shortage in Toronto, says new planning research out of Ryerson University. The draft report, called “Protecting the Vibrancy of Residential Neighbourhoods,” shows that Toronto is over-housed, with a majority of 140 city neighbourhoods suffering from a stagnant or declining population over the last 30 years &...Read More

By: Gaetana Nella Lanzellotti

Home Capital suspends dividend, shares swing, as deposits continue to drain

Tags: Home Capital suspends dividend, shares swing, as deposits continue to drain

Shares of Home Capital Corp. swung around wildly Monday after the company suspended its dividend and said it suffered from a further outflow of money from its high-interest savings accounts and GICs. The fate of the subprime mortgage lender is being closely watched by investors, regulators and governments, as some market observers worry its woes could undermine the broader Canadian financial sec...Read More

By: Gaetana Nella Lanzellotti

Would you co-own with a total stranger? Priced-out Torontonians turn to real estate speed dating

Tags: Would you co-own with a total stranger? Priced-out Torontonians turn to real estate speed dating

  There is nervous laughter among the gulps of wine, tentatively proffered handshakes and exchanged numbers. But the personalized name tags at this speed-dating event in a Yorkville pub are a clue that this isn’t a romantic quest. “I have a big down payment,” reads the badge of a woman in a stylish grey business suit. “I love dogs,” says one man’s name ta...Read More

By: Gaetana Nella Lanzellotti

Toronto sees April home prices grow as listings soar

Tags: Toronto sees April home prices grow as listings soar

A record 36 per cent increase in re-sale home listings last month hasn’t stopped prices from gaining ground in the Toronto region but it does have realtors adjusting their selling tactics. Toronto area home prices in April grew about 5 per cent compared to March and 32 per cent year over year, according to the Canadian Real Estate Association (CREA) benchmark index. At the same time the nu...Read More

By: Gaetana Nella Lanzellotti

Could open auctions make Toronto’s real estate market more fair?

Tags: Could open auctions make Toronto’s real estate market more fair?

Ray Wood comes from a family with a long history of selling real estate in Australia. He gave up the game himself about nine years ago when he moved to the Toronto area for family reasons. He now focuses on his real estate related marketing business. But the 56-year-old maintains some strong opinions about real estate practices, particularly the blind bidding wars that have Toronto-area buyers co...Read More

By: Gaetana Nella Lanzellotti

Want to buy a house? Stop buying avocado toast, millionaire tells millennials

Tags: Want to buy a house? Stop buying avocado toast, millionaire tells millennials

Millennials have enough problems as it is. Must they give up their avocado toast, too? In an interview with Australia’s 60 Minutes on Monday, Tim Gurner, a 35-year-old real estate mogul in Melbourne, suggested that young adults would be more likely to be able to afford to buy a home if they curbed their discretionary spending, like on this trendy and expensive brunch item. “When I wa...Read More

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