Photo Credit: Urban Toronto
All you need to know regarding the housing market in Toronto, Canada and abroad.
This week in Toronto: Toronto's housing market is at high risk for correction, a recommendation for small scale housing and the Liberal land transfer tax could spread across Ontario.
Elsewhere: Home prices are overvauled in 11 of Canada's 15 biggest cities, a slow down in the U.S. housing market and inside Sao Paulo's fight for affordable housing.
Toronto, Prairie housing markets at high risk for correction: CMHC (The Globe and Mail)
In a new quarterly forecast on the housing market, Canada Mortgage and Housing Corporation said it saw scant evidence of serious problems in the overall Canadian housing market, but warned that home prices are now outstripping economic fundamentals in 11 out of 15 major markets and that four cities are now at risk of a correction because of high prices and a surge in the supply of new homes under construction.
Small-scale housing recommended for Toronto (Radio Canada)
Housing prices in the city of Toronto are among the highest in Canada, and it’s time to create more small, affordable homes in central neighbourhoods, says the Pembina Institute, a clean-energy think-tank. This would also stem the outflow of young families and older empty-nesters.
It’s close (if you don’t count traffic) to Toronto, where all the money is. It’s on a big piece of land with plenty of room to put up commercial tents and a TV compound. It’s where Golf Canada has its headquarters, and where the Canadian Golf Hall of Fame and Museum is located.