A new report released last month by Statistics Canada reinforces the financial advantages of homeownership over renting. The report, titled The Assets, Debts and Net Worth of Canadian Families, 2023 shows how with a median family net worth at an impressive $519,700 and median home values at $500,000, property ownership is a cornerstone of long-termContinue reading “new Statistics Canada data reveals homeownership’s wealth-building power”
Tag Archives: real-estate
Bank of Canada dampens hopes for quick housing fix
Bank of Canada’s Senior Deputy Governor, Carolyn Rogers warned today that mortgage structure changes would not help solve the housing affordability crisis. At a time when policymakers and industry stakeholders are grappling with the complex challenges facing the housing sector, this is a very sobering message. However, I saw this as long coming, as whileContinue reading “Bank of Canada dampens hopes for quick housing fix”
surge in Canadian housing market activity forecasted as interest rates fall
A whirlwind of activity is being predicted for the next quarter as investors attempt to offload properties given the lower interest rates and new mortgage reforms. In light of this, various experts are anticipating a substantial increase in housing market activity for the remainder of the year which could potentially reshape the landscape for buyers,Continue reading “surge in Canadian housing market activity forecasted as interest rates fall”
troubling data shows significant rise in power of sale listings as homeowners navigate economic pressures
A recent analysis using TRREB data shows a significant rise in power of sale listing in the GTA, with a decline in home prices and many homeowners going underwater on mortgages. This decline is being directly linked to economic pressures. As per the data, in some parts of the GTA, home sales and prices haveContinue reading “troubling data shows significant rise in power of sale listings as homeowners navigate economic pressures”
new data reveals Ontario’s housing supply struggling to meet population growth
A new study commissioned by the Building Industry and Land Development Association (BILD) reveals that the gap between Ontario’s housing stock and its rapid population growth is the widest it has been since records began in 1972. The advocacy group also noted that the region is seeing serious decline in development applications, with only 1225Continue reading “new data reveals Ontario’s housing supply struggling to meet population growth”
government expands 30-year amortization period and raises insured mortgage cap
In a landmark decision aimed at easing Canada’s housing crisis, the federal government has announced major changes to mortgage rules. Set to take effect starting on December 15, 2024, the announcement details a plan to expand 30-year amortizations to all first-time homebuyers and to increase the insured mortgage cap to $1.5 million. A notable componentContinue reading “government expands 30-year amortization period and raises insured mortgage cap”
SP Singh Ahluwalia 