All you need to know regarding the housing market in Toronto, Canada and abroad.
This week in Toronto: A Summer slowdown is not in the cards, a lack of low-rise homes are for sale and is suburbia in Toronto real estate's future?
Elsewhere: Ottawa seeks ways to cool the hot housing markets in Vancouver and Toronto and the Brexit's impact is felt around the world.
No summer slowdown in Toronto’s heated real estate market (The Globe and Mail)
Toronto-area homeowners who are thinking of selling their properties may not need to wait for the traditional fall market. “I think it’s going to be busy all through the summer,” Patrick Rocca of Bosley Real Estate Ltd., says.
Toronto Real Estate Sees Fewer Low-Rise Homes For Sale Than Ever: BILD (Huffington Post)
They were here only 10 years ago, when there were 16,420 for sale. But those days are gone, supplanted by an era in which there were only 1,985 available in the Greater Toronto Area (GTA), as of last month.
Economist still sees suburbia in Toronto real estate future (Toronto Star)
“Some people are actually moving, but other people like the garden, the low density and their housing costs are very low out of pocket because their mortgage is paid off. They have no great reason to move. The bulk of people are staying put. That’s the biggest reason listings are down,” he said.
Protecting the environment is laudable, but so too are the goals of fostering job growth, economic productivity and affordable housing. It’s time to step back and undertake an economic review of the existing land-use planning regime in the Toronto region to ensure that it fosters, not inhibits, the attainment of these important economic and housing goals.