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All you need to know regarding the housing market in Toronto, Canada and abroad.
This week in Toronto: How Realosophy is helping bridge the information gap, why some Toronto homes are re-listed at higher prices and a new 'rent monster' in the city.
Elsewhere: Vancouver is safe from a housing crash, lessons to be learned from Ireland's downturn, how renting is driving U.S. home ownership to new lows and the hidden reason for America's shrinking wealth.
The latest tool being developed at Realosophy is called StreetWise and bridges this information gap. It is a built on the belief that by mining and analyzing the right data we can learn things about houses, neighbourhoods and condo buildings that are not transparent to us today.
Why are some Toronto homes being relisted - at a higher price? (The Globe and Mail)
It seems some Toronto homeowners aren’t getting the bidding wars they hope for when they list their houses for sale. But in a move that irks many market watchers, the owner pulls the listing, then relist a week or two later at a higher price.
Akelius, a Swedish-owned company, says it’s offering a new style of modern rental living. But tenant advocates are warning that its aggressive pursuit of higher rents is threatening to distort the city’s already unaffordable housing market – and push lower-income residents out of their communities.
The Supreme Court has denied the Toronto Real Estate Board (TREB)’s request that the court wade into the heated battle between the Competition Bureau and TREB, the country’s largest real estate board representing about 39,000 realtors in the Toronto area.