Category: Uncategorized
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Here’s how long you need to save to afford a home in Ontario
As home prices continue to soar across Ontario, the prospect of homeownership becomes increasingly elusive for young renters. Despite a strong desire to own a home, many face daunting timelines—spanning years or even decades—before they can save enough for a down payment. A new study by real estate marketplace Point2Homes highlights this challenge, revealing that…
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Canadian government announces boldest mortgage reforms in decades and here is everything you need to know
The Department of Finance Canada has rolled out some big changes to mortgage rules, aiming to make it easier for Canadians, especially Millennials and Gen Z, to buy their first home. Starting August 1, 2024, new mortgage regulations now allow 30-year insured mortgage amortizations for first-time buyers purchasing new builds. Key Mortgage Reforms You Should…
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Toronto Mall To Be Transformed into 6 Billion Dollar Urban Neighborhood
Toronto’s Cloverdale Mall is on the brink of a massive transformation that will reshape the shopping center and its surrounding lands into a $6 billion vibrant urban community. This ambitious redevelopment has been in the planning stages since 2020 and has recently gained significant momentum with the launch of marketing for the community’s flagship building.…
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Ontario sees huge surge of people not paying their housing and other bills
Even with interest rates starting to drop, people in Ontario are still struggling with a growing affordability crisis, especially when it comes to finding affordable housing. Recent numbers show that the financial pressure on residents is increasing as the cost of living rises. Ontario’s mortgage debt reached a record high, going over $1 billion by…
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Bank of Canada Lowers Key Interest Rate to 4.25% Amid Slowing Inflation
The Bank of Canada has reduced its benchmark interest rate for the third time in a row, bringing the rate down to 4.25%. This decision, announced on September 4, 2024, reflects the central bank’s response to cooling inflation and growing concerns about economic growth. The widely anticipated quarter-percentage-point cut follows a series of interest rate…
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Bank of Canada Expected to Cut Interest Rate Wednesday September 4, With More Reductions Likely to Follow
On September 4, the Bank of Canada is widely expected to deliver its third consecutive interest rate cut as inflation continues to cool on both sides of the Canada-United States border. This move aligns with market expectations, which also anticipate the U.S. Federal Reserve to begin its own rate-cutting cycle later this month. Derek Holt,…
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You can buy an entire ski resort 1 hour outside of Toronto for $2.5M
If the $1.7 million price tag for an average detached home in Toronto doesn’t quite hit the mark, why not consider adding an extra $800k for something truly unique—a former ski resort just over an hour north of the city. Nestled at the end of a quiet country road near Orangeville, Ontario, this 75-acre property,…
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Buying vs. Renting in Ontario: What Makes More Financial Sense in 2024?
As Ontario’s real estate market continues to evolve, the age-old question of whether to buy or rent has never been more relevant. With property prices fluctuating and interest rates affecting mortgage affordability, the decision between buying and renting can have significant financial implications. To help navigate this complex decision, we’ve gathered insights from financial planners…
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Ontario introduces new planning rules to create a “long-term building boom”
The Ontario government has announced new planning rules to address the province’s housing shortage, aiming to spur a “long-term building boom.” Housing Minister Paul Calandra introduced the new provincial planning statement at the Association of Municipalities of Ontario conference, emphasizing the need for a consistent approach to urban planning across the province. The goal is…
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Ontario Cottage Owned by Royal Family Member Listed for $10.5M
A stunning cottage owned by a relative of Princess Diana has just been listed on the real estate market — not in the U.K., but right here in Ontario. The luxurious 3+2-bedroom, five-bathroom property, more akin to a designer vacation home than a rustic cabin, is priced at an impressive $10.5 million. This price reflects…
Canada Housing Market 