Category: Uncategorized
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You need to make $214k/ year to afford an average home in Toronto according to a new study
Achieving home ownership remains a significant milestone for many individuals, yet the reality of purchasing a home in Canada is becoming increasingly difficult due to rising prices, particularly in metropolitan areas such as Toronto. A study by Ratehub.ca offers insights into the required income for home ownership in various Canadian cities as of February 2024,…
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Canada slips to 15th place in the World Annual Happiness Report, with Canadians under 30 “very unhappy”
In the latest release from the 2024 World Happiness Report, Canada finds itself at the 15th position globally, revealing a subtle, yet significant shift in the nation’s overall happiness quotient. Despite Canada’s reputation for high quality of life and general contentment among its population, a deeper dive into the data uncovers a disturbing trend among…
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Canadian leaders are under fire for calling $1700/month 330sqft micro apartments “affordable housing”
Deputy Prime Minister Chrystia Freeland is facing criticism on social media for her recent comments promoting a new apartment complex in British Columbia as an affordable housing solution for low to middle-income earners in Canada. Freeland highlighted the Hudson House apartment building, which offers 227 units funded through the government’s Apartment Construction Loan program, in…
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Toronto is now the 2nd most expensive city to rent in Canada
Toronto has recently risen to become the second most expensive city for renters in Canada, trailing only behind Vancouver. Despite slight decreases in the average rental prices for one- and two-bedroom apartments in Toronto compared to the previous month and year, the city has managed to surpass Burnaby, B.C., in terms of rental costs, amidst…
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Come take a peek inside Toronto’s most expensive listing right now: this $35M mansion near Casa Loma
Toronto’s most expensive home listing on realtor.ca right now is on the market for $35 million. Located at the end of a quiet cul-de-sac, this impressive estate offers stunning city views and is just a short walk from Casa Loma and Sir Winston Churchill Park. With more than 15,200 square feet of space, the home…
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Here’s what you can get for under $600/month rent in Toronto
Online discussions, especially on Reddit, have spotlighted unique rental listings in Toronto and Ontario, such as shared rooms and beds in kitchens. These listings underscore the tough realities of the current housing market, reflecting the pressing issues many face in finding affordable living spaces in the region. Here are 6 recent listings in Toronto $600…
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Toronto Surpasses Housing Goals and Secures $114 Million Boost from Ontario
In a significant achievement for housing development, Toronto has exceeded its 2023 housing targets, earning a commendable $114 million from Ontario’s Building Faster Fund, announced by Premier Doug Ford on February 22. The city not only met but surpassed its goal by initiating 31,656 new constructions last year, a remarkable 51% above the target of…
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The Bank of Canada holds interest rates steady at 5.00% on March 6, 2024
On March 6th, the Bank of Canada shared some good news for homeowners and those considering buying a home soon: interest rates will remain unchanged. This decision keeps the overnight rate at a steady 5.00%. This move was anticipated in our latest interest rate forecast, owing to signs of slowing inflation and a softer economy.…
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Here’s what $2.5M gets you in Ontario right now
Curious what a $2.5 million budget gets you in Ontario’s real estate market? From luxury homes in the suburbs to a modern condos in the city, Ontario has a lot to offer. Let’s check out current listings: Entertainment District, Toronto- $2.55M – Luxury 2 bed 2 bath condo at The Ritz-Carlton with high ceilings and…
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Here’s how home prices compare to living costs in Canada
In recent years, the squeeze on affordability has become increasingly evident, with everything from daily groceries to housing costs witnessing significant upticks. This trend necessitates higher earnings for families to maintain a basic standard of living. Among these, housing stands out as one of the heftiest expenses, although the cost of various other goods and…
Canada Housing Market 