Obtaining a mortgage or secured line of credit in Canada at the best rates is often a daunting task. We can help! Read the articles below for more info.
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Romana King is an award-winning personal finance writer, a real estate expert and speaker. She is the current Director of Content at Zolo.ca
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Toronto housing market downturn to be short lived, federal housing agency says
– canadianbusiness.com
The recent downturn in Toronto’s real estate market, brought on after Ontario introduced measures this spring including a foreign buyers’ tax, is expected to be brief, the federal housing agency said Wednesday.
Property prices in the city _ which fell from an average of $919,589 in April to $793,915 last month, according to data from the Toronto Real Estate Board _ should pick up again due to supply constraints and a stronger economy, Canada Mortgage and Housing Corp. said.
“The response we’re seeing in the Toronto market seems almost emotional and a knee-jerk reaction to some of the changes, which suggests that these impacts will be short-lived,” Dana Senagama, CMHC’s principal market analyst for Toronto, said during a conference call to discuss the agency’s latest housing market assessment.
The provincial government’s measures, which were retroactive to April 21, include a 15 per cent tax on foreign buyers in the Greater Golden Horseshoe region, expanded rent controls and legislation allowing Toronto and other cities to tax vacant homes…
Property prices in the city _ which fell from an average of $919,589 in April to $793,915 last month, according to data from the Toronto Real Estate Board _ should pick up again due to supply constraints and a stronger economy, Canada Mortgage and Housing Corp. said.
“The response we’re seeing in the Toronto market seems almost emotional and a knee-jerk reaction to some of the changes, which suggests that these impacts will be short-lived,” Dana Senagama, CMHC’s principal market analyst for Toronto, said during a conference call to discuss the agency’s latest housing market assessment.
The provincial government’s measures, which were retroactive to April 21, include a 15 per cent tax on foreign buyers in the Greater Golden Horseshoe region, expanded rent controls and legislation allowing Toronto and other cities to tax vacant homes…
