AVERAGE HOME PRICE HIT ALL TIME HIGH IN NOVEMBER OF $720,850

Wednesday Dec 15th, 2021

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The average selling price of a resale home in Canada last month was $720,850, beating the all-time high that was set in March of this year. The Canadian Real Estate Association said Wednesday that the volume of sales was strong, too, with sales increasing by 0.6 per cent from the previous month's level.   Typically, housing market activity peaks in the spring, before declining through the summer and fall, and slowing further in the winter months before rebounding... [read more]

SOLVING ONTARIOS HOUSING CRISIS

Wednesday Dec 15th, 2021

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One of the great things about Canada is that each new generation has had a better shot than the last at owning a home — until now. Like other parts of Canada, Ontario is in the midst of a housing affordability crisis. Home ownership rates are on the decline, especially among young families, and people are losing hope. For policy-makers, the urgency of this problem cannot be overstated. In other developed nations, years of inaction on housing affordability has led to social instability.... [read more]

GTA Home Sales Hit New Record as Listing Inventory Drops

Tuesday Dec 14th, 2021

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GTA HOME SALES HIT NEW NOVEMBER RECORD WHILE LISTINGS DROP TRREB Calls for Action on Housing Supply Crunch TORONTO, ONTARIO, December 3, 2021 – Home sales reached a new record for the month of November, and the average selling price also reached a new all-time high. New listings were down substantially compared to last year for all market segments – further highlighting the inherent supply issue across all home types in the Greater Toronto Area (GTA). GTA REALTORS® reported... [read more]

Toronto City Council Adopts Inclusionary Zoning Policy

Tuesday Dec 14th, 2021

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Toronto City Council has adopted a new Inclusionary Zoning policy framework intended to get more affordable housing built across Toronto. The City of Toronto is the first city in Ontario to implement inclusionary zoning which will require certain new residential developments to include affordable housing units. Council approved an Inclusionary Zoning Official Plan amendment, a Zoning Bylaw amendment and draft Implementation Guidelines, which will make it mandatory for certain new... [read more]

TORONTO CITY COUNCIL APPROVES BUSINESS TAX

Tuesday Dec 14th, 2021

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Toronto City Council Approves Small Business Property Tax Class      News Releases    11 November 2021 Toronto City Council has approved a new small business property tax class, to allow for a 15 per cent property tax reduction for small businesses. TRREB has supported this policy as an important way to encourage economic development.   The new small business property tax subclass will come into effect for the 2022 tax... [read more]

NOVEMBER HOME SALES : TREBB

Tuesday Dec 14th, 2021

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GTA REALTORS® Release November 2021 Stats Home sales reached a new record for the month of November and the average selling price also reached a new all-time high. New listings were down substantially compared to last year for all market segments – further highlighting the inherent supply issue across all home types in the Greater Toronto Area (GTA). GTA REALTORS® reported 9,017 home sales through TRREB's MLS® System in November 2021 – 3.3 per cent above the... [read more]

Foreclosure v.s. Power of Sale

Tuesday Dec 27th, 2016

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In the unfortunate circumstance that a homeowner is past-due on their monthly mortgage payments, they pave the way for a “foreclosure” on their property. In today’s market, banks and other lenders do not turn to foreclosure to take away the homes of homeowners who are in arrears. Instead, they perform a "Power of Sale" which is wholly different from a Foreclosure. What is a Foreclosure? Foreclosures are laborious, grueling, and costly to both the... [read more]

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