All you need to know regarding the housing market in Toronto, Canada and abroad.
This week in Toronto: The wealth effect on the housing party in Toronto, is a price correction coming and the science of home buying.
Elsewhere: Radical regional differences in the Canadian housing market, housing starts fall in the United States and comparing the commuting times and housing prices in eight major cities.
The wealth effect of the Toronto and Vancouver ‘housing party’ (The Globe and Mail)
“We expect increasingly strained affordability will begin to slow demand in the booming Toronto and Vancouver markets – which together account for 25 to 30 per cent of national sales,” said Adrienne Warren of Bank of Nova Scotia.
Petramala said although foreign investment and immigration are likely to provide support to the Toronto and Vancouver markets in the months ahead, she raised concerns about whether sky-high home prices in those regions are sustainable over the long term.
The Science of Home Buying (Move Smartly)
What is beginning to change is a shift towards understanding the science of home buying. The science of home buying doesn’t help buyers with the art – the process of touring neighbourhoods, viewing houses and ultimately selecting one. Buying a home is a highly personal decision and technology is not going to help very much when it comes to picking the right house for you.
Toronto Community Housing (TCH) hopes to benefit from a new $92-million provincial investment in green-energy retrofits.The agency is among those expected to apply for the money that will help social housing services adopt clean technology and improve energy efficiency.
The University of Toronto Mississauga historian’s exhaustive account spans from the 1940s, when Torontonians embraced government-led solutions for servicing a rapidly urbanizing country, to 1980, by which time citizens were firmly entrenched at the centre of the planning process.