Category: Uncategorized
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Here’s how much you need to earn to buy a home in Canada right now
Despite a slight decrease in mortgage rates, prospective homebuyers in Canada continue to face worsening affordability conditions. In April, this trend was particularly evident in major cities such as Toronto, as reported by Ratehub.ca’s latest affordability analysis. Affordability Analysis Highlights Increased Challenges Ratehub.ca’s study reveals that qualifying for a mortgage became more difficult in 10…
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Ministers propose that one way to decrease temporary Canadian residents is by making them permanent
Canada’s Immigration Minister, Marc Miller, recently announced a strategy aimed at reducing the number of temporary residents in the country. The government’s goal is to lower the percentage of temporary residents from 6.2% in 2023 to 5% by 2027 by converting many of them into permanent residents. “We are looking at ways to ensure our…
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Average hourly wage in Canada now $34.95 according to StatsCan
The latest data from Statistics Canada reveals that the average hourly wage in Canada has reached $34.95, as reported on May 10, 2024. This significant figure comes amidst a robust performance in April’s job numbers, prompting economists to reconsider their stance on potential rate cuts. Here’s a closer look at the key highlights: In summary,…
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Top 10 Rental Scams in Toronto: Essential Tips to Protect Yourself
Navigating the rental market in Toronto can be challenging, especially with the prevalence of rental scams that can trap unwary prospective tenants. Being informed is your first line of defense against falling victim to these fraudulent schemes. Here’s a guide to the top 10 rental scams in Toronto and how to avoid them. 1. The…
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Canadians owe nearly $1.85 for every $1 of disposable income, according to a study by RBC.
In recent times, Canadian households have seen a notable increase in their debt-to-income ratios. As of the first quarter of 2023, this ratio reached an alarming 184.5%, indicating that Canadians owe nearly $1.85 for every dollar of disposable income. A study by RBC highlighted that individuals between the ages of 35 and 44 have an…
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How much it costs to rent in Canadian cities – April 2024
Canada’s Rental Market Overview: Price Trends Across Major Cities The rental landscape in Canada continues to witness fluctuations in pricing, shaped by various economic forces. According to the latest data from Urbanation and Rentals.ca, the average rent for all residential properties in Canada was pegged at $2,181, marking an 8.8% increase from the previous year.…
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Your ultimate guide to exploding your growth on Instagram and gaining new real estate clients in 2024
In today’s digital age, social media platforms play a vital role in connecting businesses with their target audience. For real estate professionals, Instagram has emerged as a powerful tool to showcase properties, build a brand, and attract potential buyers. On Ontario Housing Market‘s instagram, we have shared almost 5,000 unique posts in the last 3…
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47% of Canadians are living paycheque to paycheque, according to a recent poll.
The financial landscape for many Canadians is becoming increasingly challenging. Factors like inflation, escalating rent and home prices, rising interest rates, and hefty taxes are stretching personal finances thin. Recent studies indicate that nearly half of the working population in Canada is living paycheck to paycheck. Understanding the Pressure on Personal Finances For many Canadians,…
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Ontario Landlord Charges $500 for Tent Space Amid Housing Crisis
In Ontario, a rental advertisement has caused a stir by offering tent spaces for $500 on private property, highlighting the severe housing affordability issues in the area. The ad, which was quickly removed from Kijiji, targeted individuals living in makeshift tent communities and offered a spot on a private cottage property in Innisfil, near Barrie.…
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76% of Canadians who don’t own property view homeownership as currently unachievable according to a recent survey by CIBC
A recent survey conducted by the Canadian Imperial Bank of Commerce (CIBC) has highlighted a stark reality: a significant majority of Canadians who do not currently own property find the prospect of homeownership increasingly unattainable. Despite 56% of non-owners still harboring the aspiration to own a home one day, a whopping 76% believe this goal…
Canada Housing Market 