Tag: real estate
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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,…
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Income needed to buy a home across Canada, according to RateHub’s February 2024 report
As we step into 2024, Canadians are witnessing a promising shift in the real estate landscape, presenting a potentially brighter horizon for aspiring homeowners. The beginning of the year has brought with it a gentle breeze of change, as both home prices and mortgage rates have seen a welcome softening in January. This shift, albeit…
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Bank of Canada to slash interest rates in half by end of 2025, predicts Desjardins
In a move anticipated to bring significant financial relief to Canadians, the Bank of Canada is gearing up to initiate a series of interest rate reductions starting this spring. According to Desjardins Group, this strategic adjustment aims to alleviate the economic strain experienced by many, marking a shift towards more accommodating monetary policy. Desjardins Group’s…
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Elevate Your Investment Property’s Value
Image by benzoix on Freepik Investment properties can be a lucrative source of income, but to maximize your return on investment (ROI), you need to ensure that your property is appealing to potential tenants or buyers. One effective way to boost your ROI is by giving your investment property a facelift. In this article shared…
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Here’s What $1M Homes Look Like Across Canada
Although $1 million may fall below the average home price in major Canadian real estate markets such as Toronto and Vancouver, this budget can offer an exceptional range of properties in many other cities across the country. From coast to coast, a $1 million budget can provide access to a diverse selection of properties, such…
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Someone is renting a bunk bed in Toronto and calling it a “prestigious accommodation”
Toronto’s rental market is showing signs of easing prices, but a new trend is emerging among landlords. They’re getting creative, and sometimes controversial, by turning unlikely spaces into “bedrooms” to attract those watching their wallets. From beds in kitchens to mattresses on staircases, social media is abuzz with these unusual rental options. One such listing…
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Toronto city council has officially approved Olivia Chow’s 9.5% property tax hike
’80 cents extra a day, folks can afford it,’ Chow told reporters Wednesday In a landmark decision that marks the city’s largest property tax increase in over a quarter of a century, the Toronto City Council has greenlit a significant hike in property taxes, coupled with a $20 million boost to the police budget. This…
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A new report has identified the Ontario cities where home prices have fallen the most
In the latest real estate market update, Ontario homeowners, particularly in Burlington, are experiencing a notable downturn in property values, making Burlington the most affected city in comparison to other Canadian locales over the previous year. This trend is highlighted in the recent Point2Homes report which analyzed condo and single-family home prices across Canada’s largest…
Canada Housing Market 