Housing affordability in Canada is a topic that has garnered significant attention from policymakers, economists, and the general public alike. Recent reports from the Canada Mortgage and Housing Corporation (CMHC), the Bank of Canada, and RBC have shed light on the deteriorating state of housing affordability in the country. This blog post aims to provide a comprehensive overview of the current landscape, drawing insights from these authoritative sources.

The State of Housing Affordability:

Acc...

Historically, the Ottawa real estate market has been pretty healthy with a good volume of sales happening even as the temperature approaches 0 degrees Celcius and days become shorter. The real estate market in Ottawa and for most regions of Ontario has been on fire ever since news was released around the world that a COVID vaccine had been created. This was certainly a sigh of relief for many that the worst may now be behind us. Many people lost family and friends to this global pandemic and man...

Following announcements from Kathleen Wynne and the provincial government in the last weeks, the Toronto real estate market has already seen homes prices cooling since their highs in April of this year. Year over year home prices are still up more than 15% but some experts say this cooling of the market is only temporary and that the real estate market should pick up again in a few months.

This is a great opportunity for some buyers who were kept out of the market in Toronto's red-hot market. T...

With the heated Greater Toronto Area real estate market in full swing the Ontario Finance Minister Charles Sousa has asked the Federal Government to step in and do something to help Toronto's hot real estate prices.

Toronto's supply of home has been declining and the market has become a heated sellers market with home prices continuing to rise. 

The Ontario Finance Minister has sent a open letter to the Federal Government asking to revisit the percentage home sellers are taxed on secondary hom...