Tag: real estate
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How Much Income You Need to Own a Home in Canada: June 2024 Update
A slight dip in interest rates in June improved home buying conditions for some Canadians, with affordability increasing in nearly half of the nation’s major markets. The latest Ratehub.ca affordability report, based on real estate data from May and June 2024, found that the required income to purchase a house lowered in six of the…
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Ontario Listings of the Week
Welcome to our weekly roundup of Ontario’s top listings! Every week, we feature the best properties across the province, from stylish urban condos in Toronto to cozy countryside retreats. Whether you’re searching for your dream home or just love keeping up with real estate trends, our Top Listings of the Week is your go-to source.…
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Toronto rental prices have reached the lowest in almost 2 years.
If you’re looking to rent in Toronto, there’s some good news amid the rising cost of living. The average rental prices in the city have slid to a 22-month low as of June, according to recent data from Urbanation and Rentals.ca. This trend offers a glimmer of hope for prospective renters in Canada’s largest and…
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Major Developers Join Toronto’s ‘Housing Now’ Initiative to Tackle Housing Crisis
The City of Toronto’s dedicated housing agency, CreateTO, recently provided an update on the ‘Housing Now’ initiative, revealing significant involvement from some of the city’s biggest developers. This collaboration aims to address the city’s housing shortage and affordability crisis. Notable developers like KingSett Capital, Greenwin, Tridel, Kilmer-Tricon, Ellis Don, and Windmill are key players in…
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You need to earn $215k/year to afford an average home in Toronto right now
Toronto’s real estate market remains notoriously expensive, with affordability continuing to decline despite a surplus of homes on the market. A recent report by Ratehub.ca highlights the staggering income required to comfortably afford an average home in Toronto. As of May 2024, buyers need to earn an annual salary of $215,920 to cover the costs…
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1 in 5 Toronto Renters Spend Over Half Their Income on Rent, According to a New Report
Toronto’s housing market crisis is not limited to soaring home values that price residents out of ownership; renting is also becoming increasingly unaffordable. A recent report by Royal LePage reveals that nearly one in five Toronto renters now spend more than half of their monthly income on rent, highlighting the severity of the city’s affordability…
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Here’s What $1,000,000 Gets You in Toronto
When it comes to real estate, first impressions can be deceiving. Despite its unassuming exterior, the charming two-bedroom, two-bathroom bungalow at 226 Woodmount Ave. in Old East York offers a pleasant surprise. Step inside, and you’ll discover a bright, inviting home filled with modern updates and cozy spaces, making it a hidden gem in the…
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Toronto Unemployment Surges to 317K, Surpassing Entire Province of Quebec
Toronto’s unemployment crisis is a major concern for Canada’s economy. Data from Statistics Canada reveals that Greater Toronto’s unemployment rate sharply increased in May, contributing significantly to the national trend of rising unemployment. This surge in unemployment, particularly in Southern Ontario, highlights a troubling shift from economic driver to a significant drag on the national…
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BMO: Canadian Real Estate Won’t See Big Boost from Rate Cut
Canadian real estate markets are pausing despite hopes that rate cuts would boost activity. BMO’s new analysis suggests that while the Bank of Canada’s (BoC) rate cut may lift spirits, it won’t significantly improve affordability or drive many new buyers. The market is expected to remain constrained by rising inventory and affordability issues. Small Sentiment…
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Canadian Rent Prices Reach Record High of $2,202 in May
According to a new report by rentals.ca, the average asking rents for all residential property types in Canada reached a new high of $2,202 in May 2024. This is the first time the national average rent has surpassed the $2,200 mark, indicating a significant trend in the Canadian housing market. National Rent Rankings – June…
Canada Housing Market 