So 2021 was a pretty good year for condominiums here in the Greater Toronto Area. According to the latest data (Q4-2021) from Urbanation, this is what happened last year: 30,844 new condominium sales. This is a 69% increase compared to 2020, which saw 18,282 new… Read More
All posts tagged “real estate market”
Toronto condos on the rise again
CIBC Deputy Chief Economist Benjamin Tal was recently interviewed by Larysa Harapyn of the Financial Post about the state of the housing market in the Greater Toronto Area. The message he delivers is pretty clear: “If you think that Toronto is unaffordable now, you wait.”… Read More
How Trump’s tax plan would impact the mortgage interest deduction
In the US you can reduce your taxable income by deducting the mortgage interest you pay toward your principal residence. You can’t do this in Canada, at least not on the property where you live. However, there are limitations. It is capped at loans up… Read More
16 new housing measures
The big news today in Toronto real estate is that the province of Ontario introduced 16 new measures intended to rein in the housing market. Some of the most notable measures, which many of you will have seen in the headlines, include a 15% tax… Read More
Toronto real estate is out of control
You can’t have an Easter dinner in Toronto right now without somebody bringing up the topic of our “crazy” real estate market. Below is a chart from Bloomberg showing the year-over-year change in home prices in the Greater Toronto Area since 1990. It also shows the… Read More
Housing is a bitch
I just discovered Steve Randy Waldman’s blog called Interfluidity and, more specifically, a post he wrote called: “Home is where the cartel is.” I am now following him. He starts off by saying that housing is a bitch, which is just him saying that urban housing… Read More
The yellowbelt
We talk a lot about the greenbelt here in Toronto. Some argue that it’s squeezing the housing market and driving up prices. But what about the yellowbelt? (Credit to Gil Meslin for the term.) Here is a land use map of Toronto: The yellow areas… Read More
Transparent offer platform
A new “transparent offer platform” called Haus has just launched in California to serve the residential real estate market. The way it works is that all offers are submitted online. And once an offer has been confirmed, it – along with all of its terms –… Read More
Coffee shops vs. fried chicken
When it comes to a real estate market, there are always the typical metrics: sale prices, rents, vacancy and so on. But I’m always interested when somebody looks at the market in a different way and comes up with other kinds of metrics. That’s why… Read More
This U.S. housing boom is different
Just a few days ago, The Federal Reserve Bank of San Francisco published an interesting research study where they argue that this U.S. housing boom is different than that of the early 2000s. During the last boom, U.S. home prices peaked in 2006 and then… Read More