All you need to know regarding the housing market in Toronto, Canada and abroad.
This week in Toronto: Real estate developers can't afford Toronto's housing market, what the new federal housing plan means for the GTA and a lifeline through the new rental benefit.
Elsewhere: Liberals' $40B national housing plan rests heavily on provinces, what the Trump tax plan will mean for U.S. housing and the U.K. Finance Minister seeks to placate young voters through housing changes.
Toronto-area land prices have gotten so high that developers are struggling to build new homes that people can afford. Buyers are no longer lining up, despite discounts and incentives.
Housing plan won’t help middle class, experts say (Toronto Star)
A Liberal government fond of promising help for those working hard to join the middle class unveiled billions in housing help Wednesday that could make a difference to hundreds of thousands of households -- but only in a few years when federal money finally flows to new units and tenant benefits.
While the new government strategy makes a welcome political gesture toward solving problems created by the high cost of housing, there is evidence that the problem is bigger, more complicated and more intractable than any government can handle, even with this latest decade-long multi-billion-dollar plan.
However, he has concluded that Vancouver does not have a shortage of housing units. In fact, we have a surplus. And, as anybody in Metro Vancouver knows, prices have not plummeted as a result.
The budget introduced on Wednesday abolished the stamp duty, a tax paid on home purchases, for first-time buyers of properties costing up to 300,000 pounds, or about $397,000, and on the first £300,000 of first-time home purchases up to £500,000.
November 24, 2017This Week In Real Estate |