Tag: real estate
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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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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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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…
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Canada’s CMHC Announces Termination of First-Time Homebuyer Incentive Program
The Canada Mortgage and Housing Corporation (CMHC) has announced the termination of its first-time homebuyer incentive program, effective immediately. The final deadline for new or revised applications has been set for midnight Eastern Time on March 21. Originally introduced to assist first-time homebuyers in reducing their monthly mortgage expenses, the program allowed the government to…
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80% of Canadian homebuyers chose down payments over marriage according to a recent report by Nesto Mortgages
In an eye-opening revelation, 80% of Canadians are now prioritizing saving for a house over spending on a wedding. This trend, highlighted by a study from 360Lending involving 1,000 participants, underscores a significant cultural shift towards valuing home ownership above traditional marriage ceremonies. The majority of mortgage applicants through Nesto, about 76%, identified as single,…
Canada Housing Market 