CTV News Channel
Toronto's suddenly dipping housing market appears poised to decline at a higher rate, according to early June numbers from one real estate expert.
The Toronto and Vancouver housing markets are on the brink of a 'severe downturn' that could hurt the country's GDP and drag home prices down by up to 40 per cent, a Capital Economics economist says.
Policy-makers should take time to ensure there are no unintended consequences stemming from efforts to rein in Toronto's runaway housing prices before introducing further measures, the new CEO of the Canadian Bankers Association said Wednesday.
Home sales cooled in April after setting a record the previous month as the pace of transactions in the Greater Toronto Area slowed, the Canadian Real Estate Association said Monday.
Measures to cool the housing market in the Greater Toronto Area have received a warm response from Canada's central banker, who said Saturday it should have some effect on runaway housing prices.
As prices in major cities move out of reach of many homebuyers, some are casting their search further to areas where they can afford bigger properties with smaller mortgages.
The Hamilton, Toronto, Victoria and Vancouver markets helped push Canadian home prices higher last month, resulting in the largest March rise in a decade, according to a new report.
A jump of more than 30 per cent in house prices in Toronto suggests that demand is being driven more by real estate speculators and investors than homebuyers, Canada's top banker said Wednesday.
Premier Kathleen Wynne is meeting Wednesday with mayors in the Greater Toronto and Hamilton Area to discuss housing affordability.
A package of housing affordability measures that could have a swift impact on the hot Toronto-area housing market will be introduced "very soon," Ontario Premier Kathleen Wynne said Monday.
The Ontario government is dismissing suggestions that the province's anti-sprawl policies are contributing to housing supply shortage and soaring home prices in the Greater Toronto and Hamilton Area.