The housing shortage is not a myth. It’s a bigger problem than you may think. There is land that is waiting to be developed and we could be seeing housing being built, including the missing middle the experts are calling Townhomes and semi-detached houses, which would alleviate the pressure on pricing. Part of the issue is infrastructure and another big part is policy. As an example of the infrastructure issue, in East Gwillimbury there is land that the community wants to build thousands of homes on, but there is no water treatment plant to handle the increase in population. And ...
The Housing Shortage is Not a Myth
November 25, 2017
Ontario’s Fair Housing Plan
April 24, 2017
Ontario's Fair Housing Plan From Ontario's Ministry of Finance Ontario's Fair Housing Plan introduces a comprehensive package of measures to help more people find affordable homes, increase supply, protect buyers and renters and bring stability to the real estate market. The plan includes: Actions to Address Demand for Housing Introducing legislation that would, if passed, implement a new 15-per-cent Non-Resident Speculation Tax (NRST) on the price of homes in the Greater Golden Horseshoe (GGH) purchased by individuals who are not citizens or permanent residents of Canada or by foreign corporations. Ontario's economy benefits enormously from newcomers who decide to make ...
Housing affordability: Toronto versus the world
April 2, 2017
Bubble Burst, Bubble Burst, Bubble Bubble Bubble Burst
February 26, 2017
I just read an article where an economist for one of our banks - okay, BMO - said Toronto is headed for a bubble burst. Later on in the very same article, at a point when the majority of readers have moved on and will never see this, a representative from the very same bank, BMO, said there is very little risk of a bubble burst in Toronto. So, who to believe? Are you worried that the real estate market is going to crash? Well, before you make any rash decisions, be sure to fully investigate the reasons why ...
The one question you must ask yourself before buying a home
January 22, 2017
Before you begin shopping for a home you may read a lot of articles online, watch videos and even read books on “how to buy a home.” Information is plentiful and easily accessible. There is way more information now than when I bought my first home. So, you may have checklists prepared that you think will keep you safe from the many pitfalls out there, but there is one thing you need to do first and foremost when you walk into a house. Ask yourself if you like it! Forget your checklist, forget the furnace age, the wiring, the roof ...
What’s the deal with a Buyer Representation Agreement?
December 21, 2016
If you are working with a real estate agent to buy a property, (and why wouldn’t you??) you may have been asked to sign a contract. You may not though. In Ontario, the realtor must present the contract to you before you sign an offer, and many do just that, ask you to sign it with all the other documents at offer time and you may not understand what you’re signing. That is not the way it was designed to be used. The BRA in Ontario is designed to protect the client and the realtor. Here’s how: By signing you ...
November 7, 2016
If you read my last post you’ll know the big question was, will this insanity continue all summer long. Now we know the answer, YES! Activity and prices continue to remain very high. I don’t like to make predictions and the multitude of “experts” out there who do make them are never held accountable. They just seem to fade into obscurity after their predictions are proven wrong. I hold myself accountable to my clients so I rarely make predictions. Today is different! I will make or at least share predictions from an economist whom I respect tremendously, Benjamin Tal. Recently ...
Spring in Toronto West
July 7, 2016
For the last 20 years the spring market in Toronto West has been very active and fast paced, but this spring we saw huge increases in prices spurned on by low inventory and interest rates. The June stats are fresh off the press and in many areas we saw increases of 11% and 12% in only 3 months! The biggest gains were in High Park-Swansea, Roncesvalles, South Parkdale, Junction Area, Lambton Baby Point, Runnymede-Bloor West Village, Calendonia-Fairbank, Glenfield-Jane Heights, Humber Summit, and Alderwood. Many buyers scratched their heads as selling prices soared way out of reach for them, and ...
What is the Right Type of Home for You?
August 27, 2014
CLICK HERE FOR VIDEO Are you the “Do It Yourself Type” or more the “Do It For Me Type”? People are surprised when I tell them they should know themselves really well before they jump into home ownership. You may think it’s all about budget and location, and less about you, but you can pick your property based on personality. If you are the kind that really doesn’t like to get your hands dirty, or doesn’t have time for yard work and snow shoveling you may be suited to condo lifestyle. There’s no reason to be hard ...
Key Considerations Before Making an Offer
July 29, 2014
CLICK HERE FOR VIDEO What are some of the key things one should consider before they make an offer? Some people think that because it’s a home they are buying they can easily change their mind and be released of any obligations of the deal. “If I don’t want to buy that house anymore they can’t make me, right?” Actually, they can sue you, big time! Contracts are very serious, including the Agreement of Purchase and Sale for a home. Contracts have very clear requirements including time, terms and consequence. You should make certain that you fully ...