In Toronto: Upward pressure on pricing continues as 65 neighbourhoods see a home price increase.
Elsewhere: Canada's inflation rate breaks 9-year mark, a plea to congress on behalf of U.S homeowners, and London experiments with a new way to get to work.
“Our inventory challenges are severe and we need a plan from all levels of government to tackle it. Until we find a way to create more housing we’re going to continue to have upward pressure on pricing,” he said.
Toronto’s pricy housing market (City News)
After Toronto’s housing prices dipped ever-so slightly in March, the trend continues back on the upswing. The latest report from RE/MAX says nearly all 65 neighbourhoods on their watchlist saw a pricing increase.
Former Airbnb units in Toronto moving to long-term rental market (Canadian Press)
"If you are a renter looking to move to the downtown area, now is the best time to take the leap if you can," Zoocasa agent Andrew Kim said in a statement on Thursday, citing "prices below market value and landlords willing to make compromises."
“As working from home becomes more prevalent, we may see an increase in the demand for larger living spaces that single-family homes can offer, causing a shift in demand from condominium apartments towards single houses,” the survey said.
Toronto Maple Leafs forward Mitch Marner invests in local real estate startup Justo (The Globe and Mail)
Justo, founded in 2017, is a real estate brokerage focused on the greater Toronto market with a couple twists on the traditional ways of doing business in Ontario: Its 10-person sales staff aren’t paid through commission, and the commissions the brokerage charges are discounted. The company won’t disclose the other investors in the group or the exact amount they have raised other than to say the total investment is in the single-digit millions.
When Wong bought a house, he realized why he felt so unwelcome. There it was, in writing: a covenant on the land title barring people of African and Asian descent from living in this enclave. “No person of the African or Asiatic race or African or Asiatic descent except servants of the occupier of the premises in residence shall reside or be allowed to remain on the premises,” it read.
July 24, 2020This Week In Real Estate |