This Week in Real Estate in Toronto: A directionless summer draws lowball offers and how people under 30 managed to buy in the city.
Elsewhere: The conversation regarding young adults and housing in Canada, when a suburb tries to densify and how about half a house instead?
Toronto's directionless summer real-estate market draws lowball offers (The Globe and Mail)
Patrick Rocca of Bosley Real Estate Ltd. says the action has been so unpredictable so far in 2018 that agents don't really know what to expect.
The Young Buyers Club (Toronto Life)
We never thought we’d be able to afford a house. Then, in 2016, I saw a listing for a rundown place at Queen and Shaw for $499,000. We didn’t want it, but the price made us realize we could maybe do this, and we started searching for real.
Real estate still ripe for disruption, says ex-CEO (Toronto Star)
Using software and artificial intelligence to transform the real estate transaction is still a viable idea, says the former CEO of a failed Toronto start-up brokerage. Keith McSpurren says TheRedPin, which went into receivership last Thursday, was founded on some sound principles even if its big ambitions of disrupting the real estate industry with technology weren’t realized.
Using various traffic scorecards, cost of living and public transport indexes, the firm determined that Toronto has the sixth-worst commute, globally, and the very worst commute in North America.
Millennials and housing: ‘The kettle is close to boiling’ (The Globe and Mail)
A few cities aside, the housing market in Canada has cooled to a point where prices are either dropping or rising just a little. Yet the temperature is definitely rising in the dialogue about young adults and home ownership.
“Canadian housing market volatility has become acute since the end of 2017,” writes the TD economics team, in a recent note. “Regulatory changes at both the national and provincial level (especially in B.C.) resulted in outsized swings in resale activity.”
“British Columbia has developed a reputation as an attractive place to anonymously invest and hide wealth. Right now in B.C., real estate investors can hide behind numbered companies, offshore and domestic trusts, and corporations,” said Carole James, Minister of Finance.
June 21, 2018This Week In Real Estate |