Tag: housing
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According to a new report by Zoocasa, Toronto is now less affordable than New York and Miami
A recent study by Zoocasa highlights a growing disparity in housing affordability, with Toronto emerging as significantly less affordable compared to major U.S. cities like Miami and New York. This comprehensive analysis underscores the affordability crisis facing Toronto residents, driven by lower median incomes and higher home prices relative to these metropolitan hubs in the…
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Toronto Police Make Arrest in Rental Scam Case: Woman Charged with Multiple Counts of Fraud
Toronto police have successfully apprehended a 26-year-old woman, Lariza Resendez Lopes, linked to a rental scam that preyed on individuals seeking apartments in the city. Operating under the guise of TorontoRental.org and LRLManagement, Lopes allegedly advertised rental properties on various online platforms from June to August 2023. Victims of the scam reported providing deposits for…
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Here’s how much it cost to buy a home in Toronto in the 1960s
For many Toronto residents, the dream of homeownership has become increasingly elusive, a stark contrast to a time not so long ago when single-income families could easily buy a house in the city. A throwback advertisement that has resurfaced on social media highlights the dramatic rise in housing costs, showcasing a two-storey home from the…
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Trudeau proposes Canadian Renters’ Bill of Rights to ease housing crisis
In a landmark move aimed at stabilizing the increasingly volatile housing market, Prime Minister Justin Trudeau has introduced a groundbreaking Canadian Renters’ Bill of Rights. Announced from East Vancouver – Canada’s priciest city for renters – this initiative promises significant changes to support young Canadians struggling to find their footing in today’s challenging economic landscape.…
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Canada to put a cap on temporary residents for the first time
In a significant policy shift, Prime Minister Justin Trudeau’s administration is set to introduce caps on temporary residents entering Canada for the first time this fall, aiming to address the country’s housing crisis and mitigate inflation. Presently, temporary residents, including students, asylum seekers, and temporary workers, comprise approximately 2.5 million individuals or about 6.2% of…
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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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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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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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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 