It looks like the foreign buyers tax is working Image

It looks like the foreign buyers tax is working

It recently came to my attention that the province of Ontario had not published any new data on foreign buyers in the residential market since Doug Ford was elected. It wasn’t sitting well with people, and the government responded quickly. 

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Some new home owners aren’t getting the park they paid for Image

Some new home owners aren’t getting the park they paid for

Altus Group and the Building Industry and Land Development Association released new findings that say that parkland payments to municipalities can add $20,000 to $30,000 to the cost of a new home.

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Canadian housing starts trend upwards as Toronto construction takes a breather Image

Canadian housing starts trend upwards as Toronto construction takes a breather

The Canada Mortgage and Housing Corporation released its monthly housing starts figures for April 2019, reporting an upwards trend due to strong multi-unit starts. 

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More than 200 affordable rental units announced for downtown Toronto Image

More than 200 affordable rental units announced for downtown Toronto

At the end of April, the province of Ontario announced the sale of surplus land to allow for the development of affordable housing. 

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The housing market is about to go through some big changes Image

The housing market is about to go through some big changes

It’s been an interesting couple of weeks - details of Ontario’s Housing Supply Action Plan were released, debate over the mortgage stress test continued, and sales activity started to heat up. 

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Greater Toronto Area real estate heating up with the weather Image

Greater Toronto Area real estate heating up with the weather

In April, there were 9,042 home sales in the Greater Toronto Area reported through the MLS system, which is 16.8% higher than the same period last year. This is also 11.3% higher than the amount of sales in March 2019. 

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Toronto still highly vulnerable as Canada’s housing market improves Image

Toronto still highly vulnerable as Canada’s housing market improves

In the Canada Mortgage and Housing Corporation’s quarterly Housing Market Assessment, the overall condition of Canada’s housing market moved from high risk to moderate risk, mostly due to an easing of price acceleration.

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Ontario announces details of the Housing Supply Action Plan Image

Ontario announces details of the Housing Supply Action Plan

The province of Ontario announced the details of its More Homes, More Choice: Ontario’s Housing Supply Action Plan, and it immediately received praise and support from leaders in the new home industry. 

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Condo construction hits record high in the Greater Toronto Area Image

Condo construction hits record high in the Greater Toronto Area

Urbanation, a leader in GTA condo market information, released its condo market results, reporting that pre-sale condo launch activity hit a 10-year low in the first quarter of 2019. Only eight new projects launched in the first three months of the year.

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What would happen if the mortgage stress test was eliminated? Image

What would happen if the mortgage stress test was eliminated?

Sixteen months after the implementation of the federal government’s B-20 mortgage stress test regulations, TD Bank released an examination of its effects. Basically, the stress test did what it was supposed to do, but had some unintended consequences. 

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