Week In Review: A Buyer's Market In Toronto + The King and Spadina Boom

Realosophy Team in Media RoundupToronto Real Estate News

CtvPhoto Credit: CTV

All you need to know regarding the housing market in Toronto, Canada and abroad.

This week in Toronto: The housing market takes a sharp turn towards a buyer's market, what's behind the King-Spadina boom and there's life outside of Toronto, but leaving the city is harder than it used to be. 

Elsewhere: One expert says Canada should be worried about the real estate slowdown, a severe housing crisis in California and more anger in Grenfell. 

Toronto 

Toronto housing takes sharp turn into buyer’s market (The Globe and Mail)

“While markets in B.C. and Ontario (particularly Toronto and Vancouver) still remain the tightest markets across the country with well under three months of inventory, Toronto is softening the fastest,” said Diana Petramala, an economist at TD Economics, in a research note.

The King-Spadina boom: What’s behind the growth at Toronto’s hottest intersection (The Globe)

King-Spadina lies just to the west of Toronto’s downtown core, flanking Spadina Avenue around its junction with King Street West. The Rogers Centre where the Blue Jays play baseball is to the south, the Art Gallery of Ontario to the north. It is undergoing a high-rise construction boom like Toronto has never seen.

There’s life outside Toronto, but leaving the city is harder than it used to be (TVO)

The Toronto skyline is saying goodbye to the Trump name (Blog TO)

The Toronto skyline is saying goodbye to the Trump name. The hotel and residence at Bay and Adelaide is in the midst of getting an extreme makeover as it prepares to become the St. Regis Toronto.

Canada

Canadians should be worried about real estate slowdown, says expert (CBC)

"I think it's a big problem, " MacBeth tells Piya Chattopadhyay on The Current. "Over the last five years the private sector debt in Canada has grown 20 per cent, and it's the leading pace of increasing credit in developed countries."

Sniffing out the truth about the end of the Canadian real estate boom: Don Pittis (CBC)

It is unhealthy for the price of something as essential to daily life as housing to be rising 30 per cent a year, as it was in southern Ontario earlier this year, while Canadian wages remain flat. That graphic relationship was tweeted out last week by Hilliard MacBeth, author of When the Bubble Bursts. 

‘Massive effort’ underway to create database that will shed light on Canada’s housing market (Financial Post)

A team of more than 15 people is at work compiling the Housing Statistics Framework, an ambitious database that will contain everything from price information to owner demographics, on every property and piece of land in the country.

Will China's tightened capital controls pop the housing bubble? (CBC)

"International shoppers are 'relatively minor players' but there are a lot of other things going on in the Vancouver, Toronto, Seattle or San Francisco housing market that have continued to propel housing prices upward," said senior economist Aaron Terrazas, of Zillow, a real estate market research company based in Seattle.

International
 

The council that ran the Grenfell Tower block struck deals worth nearly £50m last year to allow developers to avoid having to build affordable homes, research for BBC News shows.

The Council to Homeless Persons says the change in demand for social housing is being driven by singles and couples, for whom most properties are too large, resulting in under-utilisation. The council has called for federal and state governments to add 100,000 new properties to the social housing pool within the next five years.
 
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