All you need to know regarding the housing market in Toronto, Canada and abroad.
This week in Toronto: Housing starts edge down in Toronto, the real problem with community housing and an affordable dream.
Elsewhere: Poloz sounds the housing alarm, Trudeau calls the hot housing sector a real drag and house prices expected to fall in London for first time in six years.
Toronto Housing Starts Edge Down in May 2016 (Market Wired)
Housing starts in the Toronto Census Metropolitan Area (CMA) trended lower at 37,324 units in May 2016 compared to 41,634 in April 2016 according to Canada Mortgage and Housing Corporation (CMHC). The trend is a six month moving average of the monthly seasonally adjusted annual rates (SAAR) of housing starts.
A Visit To The Social Housing Community Of My Childhood (NOW Magazine)
It isn’t that we haven’t been talking about social housing. Most everyone knows of the repair backlogs, safety issues, wait lists, funding models, concentrated poverty and the despair of the residents, and also that these problems have been deemed a crisis for global cities like Toronto. The problem is that we haven’t been talking about it in the right way.
Unlike many house sales in Toronto, she added, her house "didn't go for a crazy amount over the asking price." The home was listed for $800,000, but Schumann declined to say how much more they paid.
“When you have this many agents in Toronto, it’s important to stand out in some way, shape or form,” Filiatrault said.