Toronto Real Estate Forecast 2018 – 2019

Toronto Real Estate Market Forecast/Predictions 2018

April 5, 2018.  The February TREB report isn’t hugely informative, however it does reiterate the downward housing market in Toronto.  The Toronto housing market shrank 39% in March 2018 compared to March of 2017.

Strangely, home prices rose 2.2% vs February, so are we seeing the beginning of the turnaround?  Hope isn’t enough in a repressive market.  Change is needed and it looks like the factors will align this summer.

Although news reports suggest the market is stabilizing, there doesn’t seem to be a bottom in sight yet for luxury homes. They took a precipitous fall this winter. Those who didn’t sell last spring and fall may have been feeling sick all winter long.

Time to Prepare to Sell Your Home or Condo?

The monthly stats below and trends seem to be predicting this may be the best time to sell your home. I’ve predicted a boom after the election, and if we improve our trade agreement with the US, GTA home prices and the Canadian dollar should jump.




Recent reports have it that the City of Toronto could face a $1.4 billion deficit, due to the loss of the lucrative land transfer taxes. Toronto’s starry eyed spending may have to be reeled in thus adding to a cascading recession threat.

A lot of Toronto home buyers are likely cheering the price falls and this spring might be the lowest price point as we head into provincial elections in 2 months and the settling of the NAFTA trade disagreement. Homeowners may decide to hold onto their homes and wait for prices to return after the upcoming provincial election.

For the march report, TREB focused solely on the YoY losses and it is ramping up its election time rhetoric regarding the responsibility of government to foster a healthy housing market. They also believe sales will pick up this summer (post election) but didn’t offer a spring forecast.

Other than stats which you’ll see below, what are the real issues for the GTA market? TREB suggest interest rates and mortgage rules are disouraging home sales. Yet, condo and apartment sales are still strong.

When will prices bottom out? May, June, or next October?

A Change is Coming for Ontario

The real matter for Toronto prices and sales is psychological because the economy is uncertain. Home prices are trending downward strongly, NAFTA is troubled, world leaders are threatening trade tariffs, and the provincial election is coming.

Ontario’s provincial taxes have become crushing and the Liberals have shown no mercy. You have to be genius if you want to be a successful business person here. Yes we’re aging here in Ontario but there’s incredible intellectual capital that’s being wasted. We’ll see more people leave the province even with a new government.

The death throes of the Wynne government show that the people and the business sector can’t tolerate this behaviour and that a new, fresh attitude toward open markets and small business success must happen. If small business is represented in the NAFTA agreement, it could give Ontario a boost it has never seen before.

As Kathllen Wynne’s MPs give up, the wave for the PCs and Doug Ford grows. Screen cap courtesy of Vice.com and CBC

No one can predict what incoming Premier Doug Ford is going to do. Will he toss the market a parachute, open up development and then delete the repressive taxes? We sure hope so. The results for the economy will make news across the and we’ll go from laughing stock to free market leaders.

After the Storm

During uncertain times, buyers will not stick their neck out to purchase a  high priced home in a market rated as the most likely to crash. And theTSX? It’s been the worst performing stock market in the world for some time now. But that could change.

Home prices in Toronto actually rose, yet prices in Newmarket, Aurora, Richmond Hill, and Bradford declined strongly again.

TREB Outlook

TREB reiterated its belief in the role of housing and real estate sales in its yearly report . TREB suggests the GTA market is a key to economic health in Ontario.

On average, each residential transaction reported through TREB’s MLS® System in the GTA generates $68,275 in spin-off expenditures, … The real estate industry is a key contributor to our economy, with total annual spin-off expenditures close to $7 billion.

They went further to hint that without real estate sales and the taxes it generates, the government will have to get their tax money elsewhere! Voters may not want to hear that and it’s probably something Doug Ford will jump on to put the finishing nails in Kathleen Wynne’s guilded coffin. I’m sure HGTV will want to support the pro-development initiatives??

Wynne has killed the Toronto housing market, tax base, young people’s dreams, and as an election promise, is offering free day care, which the government will have to borrow to pay for. Wynne’s passing will generate a wave of relief which Doug Ford will surf on for many years.  With a few legislative changes, he could relaunch Ontario’s economy and the Toronto real estate sector.

The March 2018 TREB update reveals the damage to what should have been a strong and vital Toronto real estate market.

Screen capture courtesy of TREBhome.com

Toronto Forecast for 2018

What as the Toronto Real Estate forecast for 2018?  A gloomy winter/spring followed by lots of sunshine in June. All we need is the June sunshine and we got it 100% right.

Why so optimistic against all the negative reports coming out? None of them are accounting for the upcoming election in Ontario.  It’s to soon to celebrate but only 2 short months away, and we may see the boom I sort of suggested might happen:)

This chart from TREB shows the market 2 months ago in January. Numbers of house sales rose last month yet cond sales fell.  Notice condo prices are up $43,000 in March vs January. Keep an eye on the Toronto condo market.




The market seems very quiet right now, and as Benjamin Tal, CIBC’s chief economist said, “This is the most significant test the market has seen in recent years.”




Is this the best time to buy a house in Toronto? The answer to that may be yes. Prices may plummet further in February and March only to begin a strong rise in April. Why? The election in 4 months and the NAFTA fears will have abated.

Selling your home in 2018?  Should you sell your home and upgrade to a roomier one? Or perhaps you’ll be downsizing to a condo?  Condo sales boomed in 2017 and you’ll be competing hard for anything under $600k. Your Realtor will likely have to work a sophisticated marketing strategy to help you get your house sold and get you moved into a better one.

Are you a 25 to 35 year old first time buyer and hoping to buy a condo?  Is this the best time to buy a home? See the Toronto condo market forecast for prices and opportunities.




Is it a good time to buy a condo apartment in Toronto? Which are the best neighborhoods to buy one? Check the Toronto condo market page for insight.

If you’re looking solely for home prices, then see the detailed running home price stats for each town and district. This post has a collection of videos, opinion, stats, charts, of historic sales/prices and current stats to help you with the decision of whether to buy or sell.

The most meaningful Toronto housing market prediction: After a short depressed period this spring, there will be a fast growing increase lead by optimism with the new incoming Ontario government in July. The prediction is that the optimism of the new government will keep buyers and sellers optimistic until July.

With immigration high (300k new Canadians each year), migrants from other parts of Canada increasing, birth rates up, and Ontarian’s expectations optimistic, 2018, 2019 and 2020 will see strong demand for most properties. As you can see in the Toronto market stats below, some towns and districts in the GTA have seen very strong price growth.

Share the Toronto Real Estate Market forecast on FB or Linkedin.

Anyone buying or selling should have the best overview of factors.

 

Teranet Home Prices

Teranet released its market report on home prices in Toronto, Vancouver, Calgary and other Canadian cities and predictably we saw the final burst of buying before the stress test rules came into play.




Toronto Real Estate December Report

What happened in December 2017: listings up 50% but sales down despite the last minute stress test frenzy.  New housing starts dropped by 33,000 overall in Ontario in December, after a record amount built in November.  Condo apartments and townhouses are all the rage, due to the almost affordable prices.

This recent chart from TREB shown below, reveals prices are still up year over year.

 

 

Check the running Toronto home prices chart down below. Leave a comment below.

In December, the MLS® Home Price Index (HPI) Composite Benchmark was up by 7.2% over last year, and the overall average selling price was up by 0.7% year over year. — from TREB report.




Check out the Vancouver and Calgary forecasts too as it reflects on Toronto (And Share on Facebook!).




You Can’t be Serious! a Housing Boom in Toronto in 2018/2019? Royal Lepage predicts prices will rise 6.8% or $57,000. Only Las Vegas Nevada is forecast to be higher. With new homes sold and new development halted, supply won’t be sufficient in late 2018 or 2019. Speculators will love that scenario.

Royal Lepage predicts continued price rises even as domestic investors shift to apartments and condos.

Condo Prices Rose 23%

And the danger in the condo market might be the depressing effect of rental controls on new condo builds. As supply dwindles, prices and rents will rise which is positive for condo investors. The average rental price for a 3 bedroom condo in Toronto is now $3461 per month.

Condo prices were up 21% year over year in December.

Detached Home Prices in many Treb districts has plummeted from 18 months. In some cases, prices are down almost 50% as you can see in the charts below.



If the Toronto Real Estate market nosedives in January 2018, it will be interesting to see what impact it has on the Ontario economy as well as the Canadian economic forecast.

While the talk was about rocketing house prices in Toronto, the Toronto condo market is doing okay and the demand for new construction condos is still brisk.

1 Million New Immigrants Will Affect Toronto’s Housing Market Demand

Demand is never ending, in fact PM Justin Trudeau just announced a program to being in 1 million new immigrants over the next 3 years  along with a new national housing program to help with the housing availability crisis which will heat up demand and prices for Toronto apartment rentals.

So while the Ontario and Federal governments play a dangerous game of economic Russian roulette and await their political fate, homebuyers may be finding their homownership dream more distant than ever. It’s certainly not a good time for the homeless in Toront and area with the wicked cold snap coming through.

Will it be crash and burn in Toronto this year? Even the slightest economic slide in Canada could send nasty shockwaves through the housing market. Crashes normally happen after the euphoria period. Despite the government’s negativity toward home development and supply, the market should be good for 2018.

You can view the prices for each city and MLS district below.




TD Bank senior economist Michael Dolega is quoted last month as saying  the market looks good “after some near-term weakness, likely to last into mid-2018, activity should begin to rebound thereafter given the fundamentally supported demand related to strong job growth and strengthening wage dynamics.”

The upcoming mortgage changes in January means buyers are putting rush orders in now. Condos below $500k are selling well and will continue to do in 2018.  The key for Realtors is helping buyers find an affordable condo, or a house with rental income potential.



Rental Income Investment Property

Some smart buyers are looking at financing solutions that give them a shot at rental income. Real estate investors in Toronto, Vancouver and  even Calgary are focused on rental income investment properties. You should be too.

What is the most notable change? It would have to be Toronto condos. Sales dropped by 15% yet condo prices rose by 23% across the GTA.  When the selection of lower priced condos are gone, we’ll see a renewed surge in prices as buyers hunt the luxury market to see what they can get.

Rental prices are skyrocketing as rental apartments dry up because of the rental price controls.  Rents were up 12% more in the 3rd quarter. How much further will Toronto condos climb in price and how long will voters, many of whom are home buyering milennials with nowhere to go, tolerate Wynne and Trudeau?



Are you considering using a HELOC to do a house renovation?  With listings up, you’ll have to have to add some value to get your house sold. An educated Realtor might be a wise hire too.

Bookmark this page as it is updated very frequently.

Normally Toronto house prices slide back during the winter.  That could help solve the afforable housing issue.  Yet the market is 2 tiered – young buyers with limited financing and a rising group of detached houses that are well out of their reach. 2018 should be the year of the condo.  Contrast the Toronto market with the Calgary Housing Forecast for greater investment insight.

November 2017 TREB Market Update with Jason Mercer






Considering buying or selling? Take a look at some of home buying tips and home pricing tips posts and this new post on the best renovations to grow the price of your house for saleFirst Time buyers should remember that house prices always climb even through recessions as you’ll see in the graphics and housing data below.

Some recent reports from Toronto realtors have it that buyers are back in the market this fall, yet there aren’t enough listings. They feel Toronto House prices will rise again. However, buyers are probably gleeful at the drop in house prices over the last 5 months. If it continues, they might be able to find a great buy. The Toronto economy could boom for sometime if NAFTA is unaffected, yet CMHC beleives there are dangers lurking for this market.

New sales data from TREB’s Marketwatch report paints a telling story of what happened in Toronto Real Estate in the summer of 2017 and how 2018/2019 might look.  Buyers and sellers are wondering if the Toronto housing picture will mirror the Vancouver real estate forecast where Vancouver condos are king.  Vancouver seems to have held its own which means the Toronto market might be safe too.  Let’s not kid ourselves. A crash or a housing slide in Toronto remains a possibility (government).

Consider this your most up to date report on the Toronto Real Estate Market – lots of food for thought below. Enjoy the monthly price charts below which may help you decide whether it’s time to sell your house.  Also see the Mississauga real estate forecast if you’re out in Mississauga, Milton, Oakville or Brampton.

Do you know anyone who may be buying or selling?

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New Fed mortgage rules and a higher mortgage rate means buyers will need more money down and be forced to pay higher mortgage payments. The OECD and the World Bank are constantly nattering about Canada’s housing issues. What are they seeing that we don’t?

Most experts are calling for flat prices right through 2018, however there is still a lot of unsold new home inventory and governments are clear in their intent to suppress the housing market. Those considering putting up their houses for sale might be acting much sooner.

When Will You Put up your House for Sale?

Before it was all about finding a house for sale, and now there’s lots of houses for sale. It’s almost certain you’re going to get a much lower price for your GTA house in the next 4 months. As mentioned, the PCs will reconsider how the Liberal’s botched the housing crisis and how they might fix it.

That will change the market psychology. As soon as you and other buyers have somehwere to go, you’ll be putting your home up for sale. If you get prepared this winter and spring, you might hit it right before your neighbors sell theirs.

You’ll want to start reading my how to sell your home tips posts and a little on over asking bidding wars because even right now, multiple offers are still common.

The Toronto situation seems to mirror the US housing forecast only with troublesome government meddling in TO. Experts suggest it is government action that causes the markets to suddenly slide out of control.

Toronto Housing Market Predictions from the Experts

Let’s start off with the Swiss Banks review.

Is BNN’s “end of the housing boom” story valid? Does real estate drive employment in Canada?

CMHC keeps the red flag hoisted on real estate

Trump and squashed Canadian exports represent a big worry.




 

New MLS stats from TREB show sales in August dropped 34.8% year over year and the number of new listings on TREB’s MLS® System, at 11,523 which is  6.7 % lower than last year at his time. This is the fewest listings since 2010.  Prices did decline yet are still higher than August of 2016, and did not decrease evenly in all TREB districts.   




While some areas such as the 905 have seen big drops, (houses are sitting and have to be rented now) areas in Toronto have maintained prices.  These neighbourhoods offer a more reliable bet for sustainable property investment value. Many property investors have discovered the hard way, what the word sustainable means in bottom line dollar terms. Because of demand, two hot areas right now are rental property investment and student housing investment.

Adding to the story this month is a higher loonie, higher mortgage rates, foreign buyer withdrawal, new tax on vacant homes, and homebuyers losing interest. And in response, homeowners make a desperate attempt to sell at lower home prices. 

Condos were the Hot Story in Summer 2017

  • condo average price up over half a million dollars
  • condo prices have risen 28% from second quarter of 2016
  • average condo price in Toronto rose to $566,000
  • condo sales volume dropped 8%
  • number of new listings grew only 1%
  • condos in C09 district rose to an average selling price of $1.345 million
  • Condos in C08 and C01 have the highest volume of unit sales and an average price of $603,000 and $627,000 respectively — high volume translates to more availability and lower prices

The Best Toronto Neighbouhoods are Sound for Investment

TREB stats show specific districts or neighbourhoods in Toronto have not seen a price decline and these ones below have seen price increases:

w10 – Rexdale Kipling, West Humber Claireville, Kingsview Village, Vaughan Grove
w09 – Willowridge Martingrove Richview, Humber Heights
w02 – High Park North, Junction Area, Kingsway South
c02 – Annex, University, Yonge St Clair
c04 – Bedford Park, Nortown, Lawrence Park North, Forest Hill North, Lawrence Park South
c12 – Lawrence Park North, St. Andrew Windfields
c13 – Banbury Don Mills, Parkwoods Donalda, Victoria Village
c15 – Bayview Village, Hillcrest Village, Bayview Woods Steeles, Pleasant View
e01 – South Riverdale, North Riverdale, Danforth, Woodbine Corridor
e06 – Oakride, Clarilea Birchmount, Birchcliffe, Cliffside

Many of these Toronto neighbourhoods are in such strategic locations for employment, that given the housing shortage, urban intensification, poor transit and roadways, that the condos and homes in them will never see a significant price drop. The events of the last 3 months with the Liberal’s fair housing act was an acid test. These Toronto neighbourhoods look to be the best neighbourhoods for safe real estate investment.




US investors should continue to follow the Toronto real estate market as the low Canadian dollar continues to create better real estate investment value.

The Toronto Condo market in July on the other hand is active likely due to affordability. Condos are selling well at 2% to 6% over asking price and comprised 91% of all sales. New apartment and stacked townhouse sales grew 89% year over year, compared to a 72% drop in house sales. 

I suspect 2018 will bring moderation given the rhetoric around the NAFTA deal, tighter lending rules, higher loonie, and very high home prices. 

 

Share the December 2017 Stats and Toronto Forecast with your family and friends on Facebook

Almost everyone is interested in the direction of the housing market. It affects the GTA economy, jobs and business oulook.  This page is updated frequently.

 

A Look Back at 6 Months ago: TREB June 2017 Real Estate Report

Highlights from the June TREB market report at the end of the bubble:

  • Sales dropped 37% year over year, on top of May’s whopping 50% dive
  • residential listings were up 16%
  • Prices rose 6.3%
  • The MLS® HPI composite benchmark price up by 25.3% on a year-over-year basis in June
  • Home prices are down 1.1% month to month
  • apartment prices rose 1% month to month (higher rents)

What’s Compelling about the Toronto Housing Market?

Toronto is a high value housing market similar to New York City or the Bay Area of California, and TO is a city destined to be a super city.  It’s unlikely that a property purchase in Toronto will be a disappointment over the long run. If you see the Toronto home price charts, you’ll notice that prices have climbed in the last 18 months. So buyers have not lost their equity.

And detached house prices will rise much further due to a severe housing shortage, improving economy, and rising population. 

Despite the Ontario government’s new foreign buyers tax threat, demand for housing won’t fall. As the loonie falls in value, Toronto home prices turn out to be reasonable internationally, and may be a worthy investment for rising wealthy Americans. Canadian real estate is still a good alternative to US Real Estate in 2018.

While many buyers would like to live in Central Toronto, Oakville and Milton the prices in these cities is prohibitive. Instead, buyers are looking north to Vaughan, Newmarket, Aurora, Bradford, Barrie, Innisfil, and East Gwillimbury.




Share this detailed monthly home prices report with your friends.



Toronto MLS Real Estate Board Sales Stats for March 2018

Average Toronto Home Price – Detached Homes TREB – March 2018
City March 2018 December 2017 November 2017 October 2017 September 2017 August 2017 April 2016 Price Change Last 23 months Price Change Last 8 Months
Burlington $993,500 $959,071 $871,879 $895,457 $974,446 $944,564 $961,502 3.3% 5.2%
Halton Hills $852,500 $820,904 $790,683 $787,517 $706,500 $984,812 $828,719 2.9% -13.4%
Milton $868,300 $843,688 $841,998 $884,144 $853,790 $866,650 $765,973 13.4% 0.2%
Oakville $1,298,000 $1,356,888 $1,438,656 $1,482,620 $1,393,860 $1,314,363 $1,191,503 8.9% -1.2%
Brampton $796,600 $763,814 $776,280 $775,170 $766,132 $766,831 $660,015 20.7% 3.9%
Caledon $1,002,000 $1,185,182 $1,001,753 $952,466 $918,712 $1,028,591 $755,494 32.6% -2.6%
Mississauga $1,760,000 $1,140,965 $1,060,211 $1,034,338 $1,023,207 $1,066,015 $966,467 82.1% 65.1%
Toronto West $1,099,000 $1,039,022 $1,016,076 $1,102,379 $1,015,711 $919,916 $944,422 16.4% 19.5%
Toronto Central $2,100,000 $2,070,131 $2,109,070 $2,051,481 $2,302,146 $2,113,130 $1,983,187 5.9% -0.6%
Toronto East $969,000 $894,290 $889,002 $931,239 $961,805 $887,620 $860,814 12.6% 9.2%
Aurora $1,118,500 $1,033,353 $1,249,613 $1,280,888 $1,458,481 $1,144,094 $1,155,487 -3.2% -2.2%
E Gwillimbury $865,000 $769,624 $763,071 $1,013,350 $895,119 $966,047 $764,055 13.2% -10.5%
Georgina $526,700 $619,105 $542,792 $524,735 $600,791 $604,838 $548,886 -4.0% -12.9%
King $1,727,600 $2,129,286 $1,889,738 $1,887,696 $2,252,933 $1,768,333 $1,283,432 34.6% -2.3%
Markham $1,272,600 $1,497,330 $1,342,508 $1,468,221 $1,358,328 $1,319,860 $1,363,887 -6.7% -3.6%
Newmarket $854,600 $879,151 $946,465 $916,350 $895,191 $901,055 $841,593 1.5% -5.2%
Richmond Hill $1,400,000 $1,365,373 $1,526,836 $1,345,898 $1,401,922 $1,466,884 $1,412,443 -0.9% -4.6%
Vaughan $1,238,800 $1,245,480 $1,236,250 $1,280,906 $1,392,781 $1,348,649 $1,191,632 4.0% -8.1%
Whitchurch Stouffville $1,289,000 $970,236 $1,058,486 $928,551 $1,159,545 $1,024,941 $1,048,658 22.9% 25.8%
Ajax $700,000 $690,333 $710,440 $684,011 $696,604 $708,185 $646,370 8.3% -1.2%
Brock $570,800 $408,757 $445,829 $432,318 $513,579 $508,615 $419,758 36.0% 12.2%
Oshawa $559,900 $532,813 $524,422 $516,459 $516,904 $550,677 $467,981 19.6% 1.7%
Pickering $846,000 $812,035 $840,592 $790,733 $869,546 $812,643 $772,399 9.5% 4.1%
Scugog $697,000 $689,250 $726,898 $614,678 $594,062 $719,375 $545,804 27.7% -3.1%
Uxbridge $858,500 $720,557 $771,521 $1,031,295 $957,221 $792,233 $798,749 7.5% 8.4%
Whitby $718,300 $698,110 $669,922 $695,352 $745,222 $733,811 $618,032 16.2% -2.1%
Orangeville $585,500 $562,020 $575,349 $538,518 $594,636 $612,974 $490,825 19.3% -4.5%
Innisfil $644,600 $561,716 $599,443 $525,685 $541,274 $549,492 $476,756 35.2% 17.3%

Stats above courtesy of TREB Market Watch Report

A Look at Detached House Prices in Toronto’s MLS Districts

Toronto House Prices — MLS City Districts Home Price Comparison
TREB District City of Toronto Avg Price December 2017 Avg Price November 2017 Avg Price October 2017 Avg Price Sept Avg Price August Average Price April 2016 Avg Price April 2017 Avg Price Mar 2017 Price Change Since March 2017
Toronto W01 $1,639,475 $1,269,500 $1,709,593 $1,652,600 $1,146,500 $1,405,442 $1,506,333 $1,543,961 6.2%
Toronto W02 $1,403,750 $1,256,500 $1,273,391 $1,280,867 $1,172,250 $1,331,780 $1,538,546 $1,381,945 1.6%
Toronto W03 $701,000 $774,021 $741,391 $771,142 $692,125 $666,904 $854,316 $829,396 -15.5%
Toronto W04 $799,973 $819,469 $840,110 $850,621 $846,775 $786,951 $1,024,908 $1,073,531 -25.5%
Toronto W05 $826,750 $800,063 $874,660 $805,031 $823,767 $749,333 $930,876 $1,073,531 -23.0%
Toronto W06 $1,010,600 $914,017 $922,286 $992,023 $797,392 $795,840 $974,420 $1,128,584 -10.5%
Toronto W07 $1,200,571 $1,086,386 $1,474,725 $1,277,336 $973,250 $1,112,233 $1,484,406 $1,352,042 -11.2%
Toronto W08 $1,317,240 $1,378,995 $1,356,671 $1,247,374 $1,161,882 $1,204,013 $1,544,869 $1,610,163 -18.2%
Toronto W09 $1,005,500 $886,872 $975,778 $922,000 $1,139,211 $839,479 $1,197,627 $1,115,970 -9.9%
Toronto W10 $717,539 $691,261 $688,011 $661,357 $665,268 $613,488 $831,579 $802,909 -10.6%
Toronto C01 $1,412,000 $1,597,750 $1,393,875 $1,430,667 $1,005,000 $1,528,085 $1,646,240 $1,694,333 -16.7%
Toronto C02 $3,730,000 $2,109,010 $2,313,611 $2,242,400 $2,242,750 $1,580,181 $2,710,038 $2,170,853 71.8%
Toronto C03 $1,374,437 $2,327,333 $1,880,584 $1,742,200 $1,317,111 $1,761,787 $2,246,734 $2,473,608 -44.4%
Toronto C04 $2,237,414 $2,204,173 $2,220,546 $2,212,838 $2,200,398 $2,033,140 $2,583,667 $2,245,813 -0.4%
Toronto C06 $1,147,545 $1,293,688 $1,243,727 $1,327,467 $1,445,556 $1,318,750 $1,625,779 $1,811,183 -36.6%
Toronto C07 $1,693,958 $1,609,066 $1,741,987 $1,903,632 $1,776,771 $1,657,822 $2,004,585 $2,155,365 -21.4%
Toronto C09 $2,410,000 $3,538,371 $3,414,450 $2,916,750 $3,500,000 $2,998,401 $3,246,445 $4,481,000 -46.2%
Toronto C10 $2,375,000 $1,856,406 $1,807,154 $1,747,079 $1,473,125 $1,864,333 $1,945,104 $1,786,091 33.0%
Toronto C11 $1,807,500 $2,344,375 $1,895,636 $2,137,000 $1,547,000 $1,542,867 $2,275,117 $2,201,462 -17.9%
Toronto C12 $4,213,580 $3,729,125 $3,775,636 $5,160,518 $3,910,000 $3,141,244 $3,969,281 $4,420,370 -4.7%
Toronto C13 $2,002,400 $1,342,464 $1,520,151 $2,110,709 $1,788,465 $1,926,266 $2,606,111 $2,108,137 -5.0%
Toronto C14 $1,802,222 $2,235,856 $2,001,750 $2,249,879 $3,055,823 $1,996,137 $2,554,047 $2,673,112 -32.6%
Toronto C15 $1,915,292 $1,587,250 $1,944,667 $1,832,921 $1,602,033 $1,766,219 $2,144,120 $2,108,137 -9.1%
Toronto E01 $1,319,250 $1,102,667 $1,135,156 $1,196,542 $1,224,440 $1,164,343 $1,747,894 $1,206,359 9.4%
Toronto E02 $1,188,324 $1,457,515 $1,494,639 $1,625,074 $1,414,357 $1,333,475 $1,458,167 $1,507,090 -21.2%
Toronto E03 $1,008,987 $913,430 $1,023,487 $1,038,377 $956,448 $947,611 $1,099,537 $1,121,847 -10.1%
Toronto E04 $765,124 $777,377 $768,002 $794,523 $772,883 $717,890 $897,304 $889,018 -13.9%
Toronto E05 $929,943 $899,419 $1,019,362 $979,800 $995,190 $991,136 $1,249,824 $1,303,892 -28.7%
Toronto E06 $855,347 $822,917 $766,159 $926,615 $841,995 $766,782 $1,051,918 $1,102,286 -22.4%
Toronto E07 $888,969 $911,018 $897,653 $1,025,444 $922,600 $874,280 $1,164,819 $1,142,611 -22.2%
Toronto E08 $969,634 $930,974 $1,014,526 $852,070 $872,641 $810,560 $1,066,868 $1,092,667 -11.3%
Toronto E09 $752,919 $714,451 $739,871 $690,382 $699,646 $664,378 $855,363 $895,417 -15.9%
Toronto E10 $882,733 $821,381 $897,856 $944,666 $883,852 $821,126 $1,067,925 $1,069,906 -17.5%
Toronto E11 $666,136 794,238 $758,288 $778,100 $780,618 $720,672 $842,414 $851,750 -21.8%

 

Huge new housing developments in Bradford, Newmarket, Aurora, and Vaughan are still selling well, but the market in the 905 area code has cooled. That means bargains are waiting.

Will 2017 Sales in Toronto be a New Record?

2016 was a record year for home sales in Toronto, Mississauga, Vaughan, Newmarket, Bradford and Aurora areas in 2017 could well be even more intense.  

One district in Toronto saw its prices rise $1 million since Sept! See TREB charts below.

TREB forecasted another strong year for home sales via the MLS®.  Their outlook for the Toronto region was 100,000+ home sales for the third consecutive year. Between 104,500 and 115,500 home sales are expected in 2017, with a point forecast of 110,000. TREB’s districts include Mississauga, Oakville, Vaughan, Newmarket, Aurora, Richmond Hill, Markham Bradford, Scarborough, Brampton, Oshawa and Milton.

But what drives the Toronto housing market? Will it succumb to the same fate as Vancouver or worse?   If you’re a buyer, you’re wondering which neighbourhoods and towns to focus on and whether this market will tank. If you’re a seller, you’re wondering if you’re going to miss the biggest payday of your life by not selling. If you’re close to retirement, you may want to carefully review your choice not to sell. 2017 is a grand time for you to sell and move onto a better life.

The 16 Key Factors Driving The 2017 Toronto Housing Market:

  1. severe shortage of housing stock in the GTA region
  2. rising demand from buyers who have been renting
  3. restrictions on development land for housing
  4. Trump and NAFTA free trade deal and implications for Toronto’s automakers
  5. will the low dollar continue?
  6. will oil prices stay at current levels?
  7. rising numbers of millennials hunting for a home or condo
  8. bank of mom and dad continues funding kids home dream
  9. rising interest/mortgage rates
  10. Toronto and Ontario land transfer taxes
  11. rates of employment and income
  12. asian and persian home buyers and investors rush over?
  13. will China curtail its outflow of investment money?
  14. business investment in Ontario continues falling
  15. consumer debt loads and credit ratings
  16. further federal restrictions on first time buyers/downpayments
  17. commuting distances and new construction in York region and Vaughan

 

A look Bak at Toronto Home Prices for June 2017

This graphic courtesy of TREBhome.com illustrates how hot Toronto homes prices had been for each type of housing. (See the Toronto Condo market outlook too).

Sharing is Good for Your Social Health!

The Toronto real estate market is in a precarious state.  Help your friends and contacts who may be wondering if now is the right time to sell, before the housing crash. You can get your price in 2018.




How about the US? Different story for them. The US real estate market is ripe with opportunity with a minimal chance of a housing bubble or crash.

And from this telling graphic above, the shocking rise and fall of detached home prices tells us something is wrong with the Toronto real estate market. Could a Toronto housing crash occur? The renegotiation of the NAFTA deal may be the factor that starts the slide.  President Trump’s goal is US jobs and economic health and he’s already stated he wants a better deal with Canada. It makes sense that he would want auto makers and parts manufacturing to be done in the US. The Canadian dairy and lumber industries are just a distraction.

If there was ever a time to sell your home, this is it. Some have sold $1 Million over Asking.




Investment Rentals are Big Money — How About Rental Income Property?

Are you going to buy rental income property as an investment in 2018?  Check out cities in the US where there is a much better upside in profit. The US economy and housing market will be the top performer in 2017/18.

torontoforsale
Image courtesy of CBC — Hot Toronto Market Means Spending More

What do your realtor and local politicians say is happening in your local market in Toronto, Mississauga, Vaughan, Oakville, and York Region?  What’s their forecast? I’d like to know.

As we progress to 2018, emotions are going to run high as the critical factors you can read about below become intense. Could the Toronto economy collapse if home prices fall 20% (loss of taxes for governments among other fallout).

Below is an updated look at the March real estate market in the GTA. Recent trends show home prices are rising faster than any experts predicted. Will this be the excuse the government is looking for to upend the market? Or is demand for single detached homes simply too strong?

Government Values at Odds with the People and their Pocketbooks

Are the all too predictable actions of governments in Vancouver and Toronto foretelling what may happen in US markets such as Los Angeles, New York, Miami, and San Francisco? Is the battle over and treatment of land in all major urban areas simply an artificial means of inflating real estate prices or is there actually a land crisis?

If the Ontario government decreases available land for development, drives prices way up causing public furor thereby requiring draconian measures, will it end in a crash in late 2017? Will someone create a crisis to force a crash? We should be asking these questions if we’re investing or buying.

Scarcity of land is the primary driver of high prices in the Toronto real estate market. The biggest threat is unwise government manipulation.

BMO’s senior economist Benjamin Tal said in a Toronto Star report on October 14th, the Ontario Government’s Places to Grow program was primarily responsible for the fast rising prices in the GTA market. He also suggests other red tape factors worsened the situation. Prices in Newmarket, Markham, Mississauga, Richmond Hill, Bradford East Gwillimbury and Aurora have definitly crashed.

If land scarcity is driving prices up, then even a 15% foreign buyers tax and new mortgage rules for millennial buyers may not be enough to cool demand for housing or condos. The real factor may be the next recession, fueled by housing market mismanagement.

 

Please send this blog post onto your friends and neighbours because they should know as much about the Toronto area forecast factors as possible before they buy or sell.  It’s good to be helpful. Mistakes are painful.

March 2017 Price Index from Teranet – Index climbed right into August. October reports coming soon. Screenshot courtesy of housepriceindex.com.

What are the Causes of High Home Prices in Toronto?

The major factors that drive housing demand growth to Toronto: immigrant investors, better economy, low interest rates, increasing numbers of buyers in their home home buying years (millennials), and optimism all look on the upswing.  As mentioned in the Los Angeles Real Estate forecast post, here are the key factors that affect home prices:

Housing Demand – High overall demand – “all cash bidding wars” in some cases

Housing Supply – Throttled, supply is far from what’s needed

Developable Land – Throttled by government which is the single biggest factor

Builder Red Tape – Builders can’t build even if they have funding – high exposure to financial loss

Mortgage Rates – Continuing Low, especially in light of global economic slackening and with recent tightened lending rules

Down Payment and mortgage rules – these are being tightened this taking some pressure off of the purchase market and re-routing it to the rental market (people have to live somewhere)

Toronto Region Employment – moderate and remaining moderate despite Federal infrastructure

Taxes – rising quickly due to Ontario government and federal government spending

Buyer Income – moderate and not rising much

Home or Condo Prices – High and rising fast – out of reach for most buyers

Demographics – Millennials coming into family and home buying years and must begin to acquire their own living space

Number of Renters – increasing fast because of tight mortgage lending rules

New Home Construction: limited because of Green Spaces Act, but is a source of supply

Economic-Foreign Trade – Canada struggling and Free Trade agreements now being scrutinized because they don’t see to be working like they used to

Taxes on Sale of Home – huge tax burden for those selling in the city of Toronto

Some point to the Ontario government’s Places to Grow intensification plan as the major culprit in skyrocketing single detached home prices. Toronto condo prices haven’t risen like house prices have, yet condo demand is usually not spoken much about. It does look like a growing population want house to live in. A growing millennial family would certainly find it tough to live in highrise condos designed for adult living.

Share this post with your friends and clients. Everyone should know about the housing crisis factors and the economic spinoff from the Toronto Real Estate Market. It’s good and bad, but they should know the factors and help in the solution.

News posts in the Financial Post, Toronto Star, Globe & Mail, CTV, CBC etc, is often based on varied expert opinions and a few isolated market factors.  Why don’t we look at all the factors that comprise a realistic Toronto housing market outlook for 2017.

What are the Trends in Toronto Real Estate and New Housing?

Toronto Home Prices Historical
The only drop in Toronto home prices took place in 2008, in lieu of the great recession. Graphic courtesy of the Financial Post

ontarioeconomicforecast

ontarioconsumption

mortgage-rates-2006to2016

I’ve heard a number of convincing arguments for both a bubble and an extended period of growth in new housing development and resale housing price growth in Toronto. And I’ve heard before that money from China has no effect on the market, and from others, that today’s real estate market is driven by Chinese money. The banks and CREA just can’t get their stories straight and the media doesn’t report on how badly their forecasts were off the mark in previous years.

Was it All Driven by Chinese Buyers?

Fully 10% of new condominiums being built in central Toronto were going to foreign buyers, according to a survey released in April by the Canada Mortgage and Housing Corporation (CMHC); veterans of the city’s rough-and-tumble real estate market believe the vast majority are mainland Chinese investors  10% doesn’t seem like a big number and we’re told that Chinese buyers are only interested in luxury priced properties.

TREB’s own survey found that foreign buyers actually had little effect on the market, and it was the chilling effect of the fair housing act that destroyed what was a health Toronto real estate market.

foreignownership-toronto-cma
Graphic and data courtesy of CMHC

Strangely, CREA is forecasting a marked slowdown in housing start for 2017 to a flat market for Toronto, Mississauga and Vancouver. But they admit the market is still very intense. In fact, in my town, sold over-asking price stickers are on almost every sold sign. There’s not just a few bids on these homes, sometimes there are a lot. It would take a serious economic recession or government action to get rid of all those buyers. Given how troubled our economy still is, in Ontario, it’s unlikely any government would push it into recession.

If you can sell a new house for $600,000 or a Condo for $300,000, why wouldn’t developers be building as many as they can? With economic factors supporting growth, the problem must be political. A quick look at Ontario’s urban intensification plan might show us where the real core of the housing availability crisis and fueling high rent and housing prices.

A quick look at the US housing forecast and a small market forecast for San Diego tells you that the Americans are enjoying moderate growth now and all the way to 2020. That will help carry us.

In a low oil price world, the Toronto and Vancouver economies have benefited and that has to be the key factor.  And we haven’t benefited much because manufacturing jobs didn’t come back. In fact, even with the low loonie, jobs still moved to Mexico and China.

Expert Asks; Can You Believe Anything from Anyone Anymore?

We were told by the experts that the boom is only being experienced in Vancouver and Toronto, but the graph below tells a different story. If the US economy picks up, we could see all Canadian cities heating up.

Housing Demand Toronto Vancouver Montreal Calgary

The Usual Suspects?  Government

The upcoming jump in downpayment for mortgages will only hurt first time buyers who will still have to rent a condo or home somewhere, if they can afford it. There’s word the BC government may levy taxes against unoccupied homes and they’ve talked about harassing investors (background checks).  Of course, BC just levied the 15% foreign buyer tax and caught many unwary buyers offguard, resulting in extra costs of over $100,000 for some. That’s what happens when government starts meddling in markets – they don’t work anymore.

Ontario’s Urban Intensification Act appears to be colliding head on with the Greenbelt expansion plans by intensifying growth near the greenbelt areas and at the same time shrinking available land. Is this a wise move at a time of fragile yet positive economic growth?

Houses for Sale in the Sizzling Hot GTA Market

Housing markets such as Vaughan, York Region, and Central Toronto heated up considerably in 2017 and more people moving to these municipalities. No one looked at Aurora real estate in past years, but new housing developments, great lifestyle, along with a very limited supply of land within the town means speculators will be jumping on the bandwagon. Days on market for Aurora homes was down to 10 last spring — only Oshawa homes sold that fast, and for over asking price.

Homebuyers are willing to look beyond the green spaces belt, but they’ll look at Aurora, Bradford, Stouffville, and Newmarket first before heading north. The pressure from Toronto, Chinese, and Mississauga buyers should put much upward pressure on these regions.

 

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Federal Court Rules Against Toronto Real Estate Board – Toronto Mississauga York Region Durham Peel

Federal Courts Rule in Favour of Anti Trust Legislators

The Federal Court of Appeal has upheld an April, 2016 decision made by Canada’s Competition Tribunal. It has ordered the Toronto Real Estate Board to allow its members to share the sales histories of listed properties online.

This ruling relates as well to the incoming opportunities of Blockchain technology in real estate. What’s at stake is the all important client and property databases.

TREB has always contended that its first priority is to protect homebuyers data and privacy. It seems the courts didn’t buy that argument. This isn’t an isolated war in Canadian markets and courts. REBGV in Vancouver is fighting to hang onto its data too.

From the ruling: “The tribunal made no error in finding that TREB engaged in an anti-competitive practice and that this practice had and will likely continue to have the effect of preventing or lessening competition substantially in the (Greater Toronto Area).”





Whether this is good news or not so good news depends on who you are. It’s certainly good news for online real estate service businesses. They can improve their services with this open data source. TREB’s 45,000 realtor members may feel this is a threat to their own businesses who benefited from stifled competition.

It will create a further evolution in professional real estate sales. Agents and brokers will have to be smarter, more effective, and create a better presence online. The new market will move from Realtor intranets to the Internet and smartphones.

TREB is appealing the ruling and hoping to stay the order that allows immediate release of the home sales information. It’s a small win for some, but eyes are on the future, where more of the TREB data can be released and reported on.

Without accurate, up to date housing data, it is very difficult for service companies to do business in Toronto Real Estate. TREB has almost monopolistic power in an era that is demanding access to market data.




In a Toronto Star Report,  the governments’s commissioner of Competition, John Pecman says Friday’s ruling is an important win for competition and consumers.

It paves the way for much needed innovation in the real estate industry,” he said in a statement about the case has been going on for six years.” – from Torstar new report.

Realtors can now post home sales data on their websites for buyers and sellers to see.  The tribunal also said TREB must provide data such as sales figures, pending sales and broker commissions, which might be embarassing situation for some.



It’s All About the Housing Data

Although the argument seems to be about the release of the actual sales price history of homes, it may actually be more about control and the rest of the data in TREB’s gargantuan database.  Although TREB wants control of the data, which could mined for incredibly business value, it looks like they are losing the battle.

Perhaps TREB should go with the flow on this one and charge a fee for it? Even if the data is the property of TREB, the ruling shouldn’t prevent TREB from selling their data. If there are privacy issues regarding the data, then the Federal Government may be held liable for releasing it.  Homeowners themselves were likely lead to believe their property and personal information would be protected and private.

Sounds like a legal can of worms.

Some wonder if it’s a sad state of affairs if a Realtor’s only value proposition is as a gatekeeper to the data. That data has immense valuable to a lot of investors and home buyers. Previously, only Zillow had this type of housing sales data. The release of TREB mls data may be a nail in the coffin for Zillow.



It is likely new businesses and business models will evolve as a result of the ruling. Smaller businesses can jump on it right away to offer enhanced services online, but other large scale, Zillow, Zolo or Zoocasa enterprise level businesses will likely have to wait until the matter is fully settled in the Supreme court.

We’re in a data driven business world, and until now, the housing data was contained. Now with that dam bursting, it opens up many possibilities for entrepreneurial startups in the real estate sphere.

For real estate agents, the news is likely not a good one. Agents will now have to work much more effectively at building new real estate leads, holding onto old clients, and revamping the power of their own realtor brand image.

The release of this immense database will open up all sorts of entrepreneurial opportunities and range of services by real estate marketers of all types.  The Canadian markets are opening up open market models you see in the US.




Are you looking for the latest Toronto real estate market outlook, Mississauga real estate forecast, Vancouver real estate forecast, or the Calgary real estate predictions?  See also the Toronto condo market forecast and Vancouver condo market forecast.

 

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Apartment Rentals in Toronto ⌂ Toronto Rental Market Prices Rise Fast – Toronto Mississauga Brampton North York GTA

Toronto Apartment Rental Prices Haven’t Dropped

While housing prices rise and hopeful homebuyers in Toronto and Vancouver complain about the housing crisis apartment rental prices in Toronto.

And then there are those who don’t have the strength to get up off their sidewalk grates and jump for joy about the latest government program announced. What really is ridiculous about this is that our government is squeezing housing supply raising housing and apartment rental prices and then dressing themselves up as some kind of superhero.

Federal Government’s view of Millennial homelessness? Comfortable and hydrated

Amost on cue, jumping on the housing crisis easy button is our Prime Minister Justin Trudeau. With tired, worn out solutions pulled from history books, Trudeau is planning to spend $40 billion over ten years. He made the announcement during a recent photo shoot for media.



The forecast is for higher rents, more homeless people, more social problems, and stressed low wage Canadians occupied more with staying alive than helping boost Canada’s GDP. And our growing numbers of foreign students will wondering whether Canada’s lack of student housing should make them choose the US instead.

According to Covenant House, “over the course of the year, the number of young people who spend some time homeless in Canada is as many as 40,000, and on any given night, there may be up to 7,000[1] homeless youth.”

Toronto Apartment and Condo Prices Rise

Prices for apartment rentals in Toronto are heading toward heights you’d normally associate with New York, Los Angeles or the Bay Area of California. Yet, they have much higher wages.  The CMHC’s report on rental properties shows a drop to a 1.1% vacancy rate, and it’s likely a good portion of those available units are high priced. The average rental price has risen to $1,296 per month, up 4.5 %.

“The Toronto rental market is out of control,,,And because of that, rents are shooting through the roof. You go to a showing in some parts of town, you’re going to have a lineup around the block,” said Geordie Dent, executive director of the Federation of Metro Tenants Associations  (from CBC news report).

According to TREB, the average rent for one-bedroom condominium apartments in the TREB market area was up by
11.2% to $1,976 in Q3 2017 over the same period last year. The average two-bedroom condominium apartment rent was up by 7.7% over the same period to $2,607. You can view TREB’s chart below.




As a CBC report suggests, the big issue of 2018, 2019, 2020 elections could be housing affordability, particularly rent prices.  The CBC coverage is very good actually and acknowledges the good and the bad, however not much is said about how we got in this hot water.

 

Please Share this Post about our housing crisis. It’s a serious matter.

 

A lot of voters rent. This isn’t something Prime Minister Trudeau has addressed seriously during his whirlwind, jet setting, global tours, but it’s an issue that will be waiting for him every day he arrives at his office until the election. The forecast is for a very tight election race because the only ones who might vote for Trudeau are the status quo crowd. It’ll be an interesting year coming up in Canadian politics.



Screen Capture courtesy of CBC

It’s housing, immigration, political pandering, and economic incompetence that will see Justin Trudeau leave office. Support for wages, housing and homelessness will not be coming rom foreign multinationals doing business here.

Seriously, Landlords are the Cause of Low Vacancy and Homelessness?

Incredibly, the CMHC is blaming rental increases on rogue, profiteering landlords. That seems to completely discount their brand new report of record low vacancies.  Does CMHC read its own PR??

Landlords are not government agencies the last time we asked, and they are allowed to make a profit like the Canadian banks, Ontario Hydro, etc.

According to a CBC report, Trudeau’s national housing program will focus on chronic homelessness. The government says they will manage this professionally and reduce the number of homeless by 50% within the next 10 years. Of course, half of them will be dead within 10 years, so in theory, Trudeau’s vision is sound. Mark 1 for the PM.

Tip of the Iceberg: What Might Really be Coming in the Next Ten Years





The new Federal housing program plans to spend $2.2-billion on homelessness but will delay that until the spring of 2019. That means 2 more freezing cold winters for the homeless.

To understand the issue better, let’s remember that we’re in boom times right now. If the economy falls back into recession, the number of homeless and poverty level people falling through the cracks will rise. Will billions of tax dollars earmarked be enough to deal with a recession?

What have the governments of Ontario and Canada been doing to the housing industry?  Strangling it. Only by freeing up developers and land, and creating big tax incentives will the problem be eased.

Canada’s New Housing Plan?

The new national housing plan announced by Trudeau has these objectives:

  • Building 100,000 new affordable housing units
  • Repairing 300,000 affordable housing units
  • Cutting chronic homelessness by 50 per cent
  • Protecting 385,000 households from losing an affordable home
  • Providing 300,000 households with financial assistance through the Canada Housing Benefit
  • Removing 530,000 households from housing need

The proposed housing would built over 10 years likely won’t accommodate the homeless now, let alone those who will be entering that world over the next decade.

Housing is just one aspect of a miserable problem brought on by Free Trade and globablism. Even when housed, millions of Canadians still need food, medical services, and jobs. As more Canadians plunge into minimum wages, pushed out of the workforce by retirement, foreign competitiveness, factory automation and artificial intelligence software, the picture is not so nice.



If the Liberal governments had focused on building new houses, condos and multi-tenant buildings, the pro-housing response wouldn’t have been needed. Now Trudeau’s going to plow $40 billion tax payers dollars into another band aid solution.

Screen Capture courtesy of TREBhome.com

It’s another sad act from a government that thinks it’s still 1980. Every decade, including the era of his father, we’ve had the same “government administration and red tape” programs that create crises and then pretend to solve them with expensive government programs.

Having no government at all would be cheaper and more effective. Not that we’re ungrateful for marijuana legalization and methadone clinics.

If government was out of the way, the Toronto housing market would heal and thrive. So would the real estate markets in Vancouver and Calgary.

Check out TREB’s 3rd Quarter Rental market report.

TREB REntal Market Report 3rd Quarter 2017 TREB 3rd Quarter 2017 Rental market report courtesy of Trebhome.com




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Predictions of a Housing Boom in Toronto and Vancouver in 2018 Reports Forecasts Predictions Canadian Housing Market

Will 2018 Bring Another Housing Boom in Toronto and Vancouver?

Are the Vancouver real estate market or Toronto housing market going to crash , lift off, or coast in 2018/2019? Has all the negative press made you believe the end is near?

Bankers and politicians keep trash talkin the housing markets. However, as you’ll read here, there is more reason to believe in strong growth arising from a healthy economy, high immigration, demand from 25 to 33 year old Millennials, low mortgage rates, a growing housing crisis and more.

Demand is high, supply is being strangled.

Wynne, Trudeau, and the bankers feel pretty certain they can crush this market (okay, they’ve persisted but will the Canadian economy and stock markets crash in 2019?  But this beast isn’t going to die. It’s driven by dreams and expectations about how we’re supposed to live.




Here’s my outrageous forecast: The demand is so high, they will have to completely reverse course and begin supporting construction and development and enabling purchases. Otherwise, as the election nears, they’re gone.

They’ll look like hypocrites, but the public will forgive because housing is a bigger issue that’s causing serious social troubles. As investors focus on rental properties, such as apartments in Toronto, even rents will skyrocket in Toronto. Toronto property management firms are headed for their own boomtimes.



As spring approaches, we’re going to see intense price pressure driven by a lack of supply. Royal Lepage just released its market forecast survey and they’re predicting Toronto houses prices will rise 6.8%.  That aligns nicely with this whole notion of boom times ahead.

And it turns out, construction is already booming.  Canada Mortgage and Housing Corp. reported that the pace of housing starts picked up in November nearing the highest levels since 2008. Given that we just went through a boom, that’s remarkable.  CMHC believes construction of multiple-unit projects in Toronto has been a driving force behind the trend.

Benjamin Tal is also suggesting a boom in Toronto and Vancouver and it would restart in 2018. You can read more below.  Should you buy now or in the spring?  Take a good look at the Toronto real estate forecast and the further reading below.

Breaking News: Trudeau to bring in one million new immigrants in next 3 years. Question: where will they live?

Despite government negativity, statistics, the underlying fundamentals of demand along with the ongoing strength of the economy are suggesting an improvement.  That means a prison riot might be coming soon. You’ll find a list of credible reasons why the Canadian housing markets might surge again below.




The experts have been forecasting a Toronto or Vancouver crash now for many years. Hasn’t happened, so perhaps we need to think for ourselves? The market continues with confidence and optimism overpowering persistent negativity the politicians keep pushing out.

How is the US housing market doing? Nervous but very good. Post hurricanes and fires and political upheaval, the markets in Miami, Boston, New York, Houston and Los Angeles are healthy. And 2018 stock market predictions are positive for several years.

Let’s take a look at the factors and the two opponents: our politicians vs strong growing economies. Only one will win.




Let the Housing Good Times Roll!

The IMF and OECD seem to agree, saying Canada’s economy is the best looking in the G20. The case for a Canadian housing boom has some wind in its sails. If political suppression of the Toronto and Vancouver housing markets were to end, the rest of Canada would awaken.

What we don’t know is whether the government will attack  the momentum or let it power the economy further. Currently they’re riding a wave of populism driven by angry renters in Vancouver and Toronto.

But what if that voice faded and the exact opposite public opinion appeared? Justin Trudeau’s popularity has dropped to 25%, Wynne’s pushing towards zero, and that means they may have to reverse course to stay in office. Don’t believe they would do it? Never say never.

Politicians Crushing the Housing Market

Currently however, Wynne, Trudeau and Horgan are holding their own private “let the good times roll” party. Their unwise meddling in the housing market is a threat to the Canadian, BC, and Ontario economies as explained below.

And it’s all for political points that may soon be worth nothing because when you cater to a small select crowd, eventually everyone else wants you out. In truth, only the prices of million dollar estates have dropped a little and the rest of Canada is hurting.

Demand for housing is relentless and Millennials don’t want their dreams dashed. The larger voice will be heard in 2018.




People want homes and these 3 politicans will be booted out of office because of it.  The only ones voting for them are those in Toronto and Vancouver cities. The rest of the country wants to see lower mortgage rates and an improved economy.

A good number of Canadians are weighed down by thoughts of the last recession rollercoaster and don’t really want to go back there. Business people and investors want growth. They’ve got a lot on the line.

And the politicians they’ve discouraged the builders now. So, although everything is in place for a continued housing boom in Canada, these politicians could push us into a mess.



“At this point we do not see any real relief. In fact, the opposite is the case,” writes Tal. “Without significant changes to land and rental policies alongside a dramatic change to housing preference among buyers, those centers will become even less affordable.” – Benjamin Tal in an interview with Yahoo Finance.

Key Factors Supporting a Housing Boom in Canada

  1. global economic winds are positive
  2. Trump will rekindle trade with Canada (he has to)
  3. oil prices rising a little
  4. wages will begin to rise
  5. too many millennials need to move out of the parent’s places
  6. bank of mom and dad has plenty of funds ready
  7. supply is low and builders and construction workers are waiting to build again
  8. the rest of Canada is tried of being kicked around
  9. Trudeau and Wynne severely disliked
  10. China is liberalizing trade and investment with the world
  11. Canada’s economy is going gangbusters (3.6% growth forecasts)
  12. lumber producers would rather sell their lumber here
  13. mortgage rates still low (and there’s no real reason to raise them)

Video: Greg Bonnell of BNN Explains How Housing Prices Can’t Go Down

Strong Economy Usually Means Boom Times

Benjamin Tal may have meant a price boom is imminent because of severe shortages in the Vancouver housing market and the Toronto housing market.  And if prices rise, we may see construction starts also slowly rise and a juiced up housing market would in turn lift the Canadian economy higher.

A synchronized global recovery and rising global trade volumes are backstopping the growth, along with the bottoming out of the oil shock in western Canada and soaring home prices in Toronto and Vancouver — from a report in the Toronto Star.

And prices of oil have climbed, meaning Calgary’s real estate market and those in Edmonton, Saskatoon and Regina might return as well. Fears are that OPEC is solidifying and a war between the 2 biggest producers could erupt. That would bring an immediate boom to Calgary.

Screencapture courtesy of BNN

This is a screenshot below is of historic oil consumption from Doug Rowatt’s post on the greaterfool.ca. The price is forever upward.  Is the time time oil shoots toward $100 a barrel? Some are predicting it.

Forecasters like Oil: “Open interest in $100 call options for December 2018 has tripled in one week to exceed 30,000 lots, according to Reuters.   The $100 December 2018 options is the largest strike for all of 2018.” — from USA today report.

Condo starts have been strong and look to continue. The Toronto condo market and Vancouver condo market will be driven by property investors according to reports.

BNN’s Greg Bonnell Interviews Bryan Yu, Senior Economist at Central 1 Credit Union regarding Vancouver’s perpetual positive market in a past interview. What stands out about the conversation is that Yu says affordability won’t affect prices, and that only an external factor, such as a Chinese implosion would create a Vancouver slowdown. At this point, with Trump’s visit to China, that the Chinese are adapting to global business and are welcoming foreign investment. No reason for a China problem. Vancouver looks great.

What makes Toronto’s condos an attractive long-term bet is the city’s low vacancy rate, which has fueled bidding wars among renters and driven monthly condo rents to an average of $2,074 in the second quarter, up 7.2 per cent from $1,935 a year ago, according to market research firm Urbanation. — from a report by Bnn.ca.




Severe shortages are likely to drive home prices high. Most forecasts and expert predictions are for a flat market for 2018. Yet the economy is strong and looks to get stronger so a flat market is really about sales volume. Prices are so high no can afford to buy houses in Vancouver or Toronto and soon for condos.

It’s Still a Seller’s Market

It’s a seller’s market in 2017 and 2018, and with rent controls suppressing new construction, the pressure will build to create higher prices of resale homes and condos. As wild as Benjamin Tal’s prediction is, it jives with what’s going on in the economy.

Douglas Porter believes the market will heat up too, but his view is that it will end with a housing market crash.

If NAFTA talks go well, which they likely will, the North American and global economies will both grow. That doesn’t fit with some bankers and politicians wishful prognosis of stagnant or reduced prices in 2018/2019.

The latest numbers from Novembers mid month report by ZooCasa shows a surge of listings this month.  This rapid rise in listings in houses and townhouses tells us sellers might be too desperate, overestimating the effect of mortgage stress test changes, and clearly not of the view that the market will climb in spring.

In TREB’s monthly price charts, prices in the core districts of Toronto haven’t fallen. The demand for homes within commuting distance of jobs is high and buyers will likely pay any price. Home prices in the 905 area code have fallen (York Region, Mississauga), but perhaps that’s ready to heat up in 2018. There are still bidding wars and lots of over asking sales happening.

Let’s not forget that many renters and some homeowners will have to leave their current homes, and they will be exposed to a zero vacancy market you normally associate with New York City or San Francisco.



Does This Fall Season Foretell of 2018?

The fall season has been strong, and while the new mortgage rules will suppress demand for more expensive homes, and condos, those under $600,000 will be high demand. That will push prices up. So although some homeowners are pannicking and dumping their houses on the market, demand in 2018 will gobble them all up. Let’s not be distracted by the $3+ million dollar homes in Forest Hill and Mount Pleasant.

The Toronto condo market is sizzling hot and they’re running out of condos.

It’s a simple matter of supply versus demand in Toronto and Vancouver. The only solution is to end anti-development legislation. Vancouver and Toronto have been designated high growth super cities with large numbers of immigrants with visas and foreign students arriving every month. How can that be stopped now?




Government Manipulation Could Create an Economic Slide

If Trudeau and Wynne try to counter rising prices and demand for homes brought on by demographic and economic factors, via policy changes, it may create a bubble and then housing crash in Toronto and Vancouver, cascading right across the country.

In fact, it’s likely that they’ll both be run over be the economic train neither had any part in creating. For Trudeau, it is hypocritical to recruit a million new immigrants and then not help withh the housing crisis.  I think he’ll come around because of this. However, it still leaves the BC and Ontario premiers left blockading the housing highway.

For those who don’t want to live in these modern mega cities, there are other areas of Canada to live. The north is undeveloped, but as more babyboomers tire of the congestion of the city, they’ll be looking for homes, at least for 6 months of the year, in Canada. They may have to go north to find one, if anyone’s building up there.

And they won’t find much relief in Muskoka, Niagara Falls, Kelowna, or Victoria. Prices are up in most retirement cities and they’re rising in Costa Rica, Mexico, Florida and Arizona. Too many people bidding on too few properties. Simple math that seems to befuddle politicians.

Before buying a home or investing in rental income property, get some advice on maximizing your investment. The path you take might be surprising. Expand your search for homes for sale with an intelligent strategy that does more than calling a Realtor.




Before you sell, consider advanced selling tactics that can capture the full interest in your home. The demand for your home or condo is out there in the real marketplace. They just aren’t aware of your property. Marketing is worth many times what you pay for it. Consider the exposure of your property on Google, Google adwords, Facebook ads, in addition to your MLS listing. Don’t be timid. Power it up!

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Toronto Condo Market Report – Update and Forecast 2017 2018

Toronto Condo Market Forecast 2018

While the Toronto housing market in 2018  is overshadowed by severe house supply shortages and ultra-high prices the condo market in Toronto and Mississauga is an attractive alternative for young buyers.

Sales of condos particularly in the under $500k market are rising and prices have risen as well. The latest Toronto condo market sales report from TREB has ben released. While TREB doesn’t publish stats on the condo market specifically much anymore, you can see the averages for each district below.

Toronto Central, Milton, Oakville, and Peel region continue to enjoy strong market demand while other areas have seen a decline in price since last fall.

The new mortgage rules now enforced means many buyers will only qualify for a much lower mortgage.




You likely have your own opinions about government meddling in the markets, however such interference can be a housing crash factor in itself.

Should you invest in a new or resale Toronto condominium? The Canadian economic Forecast and Toronto economy in particular look very good. That means condos new and old will be in demand next spring from fully employed buyers who have had time to save the big downpayments and meet more stringent lending stress tests.

As mentioned in the Toronto housing report for October, prices for Toronto condos are up 24.5% in the city of Toronto year over year.  Some of this rise is due to the coming mortgage chages. If you need a monster mortgage, you need to get hopping and call a real estate agent.

The issue of whether to buy is one of affordability for Millennial-aged buyers and as many are saving, there will be plenty of demand next spring, putting upward pressure on prices.

Millennials Are Driving The Toronto Condo Market

They’ll need more creative mortgage financing and improved condo searches to find something they can afford. Although the mortgage changes in 2018 will put an extra burden on them, and force them to stay in the rental market, they will likely have more money in the spring to buy a condo.

There’s big investor demand for condos too. Student housing is in a severe crunch in Toronto and Vancouver. Investors are well aware of the rental potential of condos and many may be investing in the Vancouver condo market and here in Toronto because of so much rental demand.

If you can’t earn a profit on capital appreciation, you can still make it on rental income.




Toronto Rents Are About to Rise

A report from BNN shows how rental income properties, including condos in Toronto. See where the big rents are.

Why are Toronto Condos such a Draw?

Toronto Condos offer higher cap rates and a larger growing pool of potential renters and buyers. And at this point with severe shortages of detached houses and townhouses, buyers are buying condos. Barry Fenton, President & CEO of Lanterra Developments, a major condo developer suggested Toronto Condo prices could could have risen 40%. They have reached 20% over this time last year.  The detached housing shortage is still alive.

When foreign investors look to escape their own country’s currency nightmares and leverage our weak loonie, they like the Toronto market. Note: If you’re a foreign real estate investor, people often refer to Toronto as being the greater Toronto area encompassing Oakville, Mississauga, Vaughan, Richmond Hill, Scarborough, East York, Pickering and even out to Oshawa. The Newmarket, Bradford, and Aurora regions are included in TREB’s housing sales reports.




Toronto Condo Prices 2017

TREB District Toronto Condo Prices March 2018 Toronto Condo Prices October 2017 Toronto Condo Prices Sept 2017 Toronto Condo Prices August 2017 Sept 2016 March 2012 Price Change over Last 17 months
City of Toronto $651,100 $555,004 $554,069 $550,299 $561,376 $361,800 13.78%
Toronto West $494,400 $446,794 $450,485 $434,218 $487,061 $286,366 1.48%
Toronto Central $656,000 $620,322 $615,654 $615,680 $682,427 $422,396 -4.03%
Toronto East $411,000 $407,775 $395,859 $403,028 $467,689 $237,909 -13.79%
Halton Region $465,300 $478,611 $519,348 $528,579 $485,128 $442,625 -4.26%
Burlington $520,300 $553,029 $514,755 $476,222 $497,800 $370,667 4.32%
Halton Hills $486,300 $516,450 $294,500 $446,971 $381,017 21.65%
Milton $432,000 $413,808 $418,219 $427,594 $406,300 5.95%
Oakville $442,100 $419,438 $606,131 $523,507 $513,682 $485,800 -16.19%
Peel Region $423,600 $389,587 $385,588 $395,188 $461,830 $433,780 -9.03%
Brampton $360,000 $354,618 $336,091 $350,401 $374,596 $351,500 -4.05%
Mississauga $435,000 $395,683 $393,441 $402,344 $485,240 $453,250 -11.55%
York Region $507,000 $495,973 $481,138 $500,456 $544,528 $537,903 -7.40%
Aurora $477,000 $608,750 $562,500 $685,874 $532,785 $525,000 -11.69%
Markham $509,000 $503,796 $486,369 $503,455 $554,643 $527,518 -8.97%
Newmarket $536,000 $416,260 $444,250 $400,340 $496,125 7.44%
Richmond Hill $475,400 $452,319 $446,505 $470,076 $542,470 $596,667 -14.11%
Vaughan $531,000 $532,144 $513,618 $521,400 $593,725 $554,211 -11.81%
Durham Region $407,800 $399,687 $365,297 $376,250 $317,855 $274,350 22.06%
Ajax $396,000 $337,317 $397,125 $379,431 $378,180 $281,688 4.50%
Oshawa $358,000 $302,333 $226,347 $315,075 $243,000 $210,667 32.12%
Pickering $501,000 $448,036 $384,300 $402,316 $396,301 $340,667 20.90%
Whitby $410,000 $448,036 $395,633 $457,143 $344,461 $294,350 15.99%

The Toronto Real Estate Board covers a huge area and below we’ll zero in on communities that may represent the best ones for you to research.

Barry Fenton, President & CEO at Lanterra Developments joins BNN to discuss the Toronto Condo market. He suggests the market is aggressively priced and complains a little about how competitive it is. He says prices will rise 40% but he has a few misgivings about the Toronto Condo market.




Big Demand for Condos as Entry Level Homes

Most home buyers in the Toronto area can only hope to own a condo. Homes are averaging over $1.5 million in some areas in the GTA. And condo developments are offering more for tenants. And perhaps the key feature of Toronto condos is their proximity to work, leisure, restaurants and shopping and freedom from the grinding commute that many Torontonians face each day. So there are good reasons to buy a condo in Toronto.

But the condo investment landscape has recently been darkened by Ontario premier Kathleen Wynne. Her government’s new foreign buyer tax might hit the condo market the hardest, but most credible experts expect demand to return. It’s a short term blip (and as of Dec 2017, the demand for condos did indeed return).

Oddly, the condo market in Toronto is much less volatile than the single housing and townhouse market in Toronto. Her foreign buyer tax and rental price controls look like they’ll miss the mark.

Lets’ take a look at the most recent Toronto condo market prices and then look onward to 2018, 2018, 2019 and 2020. This blurb from the latest TREB condo market report says it all about what’s happening right now in April of 2017:

 

What else is supporting condo sales is proximity to work. Commute times are awful, gas prices are very high, and young millennials are having trouble handling rent/mortgage/ and car payments. Something has to give, so workers are choosing to move into the city near their jobs.

Where are Toronto’s Best Investment Condos?

As the graphic above shows, the top location is Toronto Central (where home prices are highest too), Toronto West and Mississauga. The bulk of these listings are in huge mega-sized condo towers and there are more of them being built. Toronto Central is also close to the U of T, Ryerson, and other colleges where off campus housing is in hot demand. It’s the same situation for Vancouver condo rental and investors should take note.

Toronto’s C02 district is your million dollar listing area. With an average price of $1,050,000 these are your Toronto luxury condos. This area is located just north of Downtown/Bloor st, near the University of Toronto. This suggests that proximity to U of T and downtown offices may be the primer driver of Toronto condo prices and may drive sales of Toronto homes as well.

Screen cap courtesy of the Toronto Real Estate Board. See more at trebhome.com

How Much Have Prices Risen in the Last 5 Years?

Should I Buy a Condo in Toronto?

Should you buy a condo in Toronto, Mississauga, Scarborough, or Brampton?  Demand for condo purchases is rising, the Toronto economy is strong and positive, and rents are rising fast.  At some point, you have to jump in, or you’ll never build homeowner equity.

What to Consider Before you Buy a Condo

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Ontario Foreign Buyer Tax Short Sighted and Harmful to Economy

Foreign Buyer Tax Doesn’t Help Housing Crisis

As Ontario Premier Kathleen Wynne announced the new Foreign Buyers Tax in Toronto recently, she ignored recent stats that showed Vancouver’s use of the money grabbing tax was wearing off.  

And she ignored discussion of housing supply and support of builders, and how housing investment creates jobs and helps pay off our massive provincial debt.

With Wynne’s 14% approval rate, not many of you believe in her and the liberals any longer. They are involved for only one more year yet they can do some damage during that time. The foreign buyer tax, rent controls, and the 14 other housing hacks to suppress Toronto home and condo prices which she’s announced, could have grave long term effects for us all — suppressing investment, drying up rental availability, and raising GTA home prices to ridiculous levels. It’s actually an alarming situation that makes people more concerned about a housing bubble.

Screen cap courtesy of the Globe and Mail

The real problem: Toronto doesn’t have enough housing, people are going homeless or must pay exorbitant rental rates and they can never hope to own a home. Those who want to sell, have nowhere to go. I think it’s obvious, Wynne is the culprit and the reason why home prices are so high.  Wynne takes voters for granted, and takes the tenuous Ontario economy for granted, and she could ruin that too. There’s no time for professional administrators with weird agendas in government anymore. Rent controls have been studied before and pronounced as failures. We need creative entrepreneurs, smart small business people with lots of ideas.

New development in Aurora built on several hectares of scrubland is making home buyers very happy. See ore about new home development in Aurora, Newmarket, and Bradford.

The Solution: we need investment money to build new homes and we need Ontario scrubland freed up for new home development. There’s lots of it – miles of empty vacant land that’s not even good enough for farming. And as I explain in this post, moving investment outside of Toronto is good for everyone.




The so called speculator-fueled housing price fire she blames, is actually fueled by a lack of housing supply in Toronto, which she created and big multidimensional demand from buyers. Speculators know Toronto is desperate for housing and will be for some time. Still investors believe Toronto is a great place to invest.  Not so says Wynne, who pushed her regressive 16 point housing hack. Not freeing up land for housing is a dangerous ploy that could contribute to a recession and make finding a rental unit impossible for millions of house and condo renters.

Quite the contrary to what Wynne stated, real estate investors, house flippers, and land developers contribute a great deal to the economy.

More commentary on the Foreign buyer tax:

ANALYSIS: Beware unintended consequences http://www.cbc.ca/news/business/canada-realestate-future-uncertainty-1.4079431

BC foreign buyer tax: https://renx.ca/british-columbia-foreign-buyer-tax-house-prices/

Ontario Minister tight lipped: http://www.citynews.ca/2017/04/21/minister-cant-say-foreign-buyer-tax-will-affect-housing-market/

Will investment money move out west to Calgary? http://www.660news.com/2017/04/20/foreign-buyers-tax-boost-calgary-real-estate/

Impact of B.C.'s foreign buyer tax wanes as March sales surge almost 50 per cent

 




I like how one writer called Wynne’s housing plan a Potpouri of Politics seemingly to lower rents and ward off a housing crash – destined to failure. And the growing homeless will see no relief.

The problem will never go away, because Toronto is hot. It’s an International mega city and nothing can stop that. Her government’s perversely named Places to Grow legislation — artificially limits housing supply which raises prices. And the new Toronto foreign buyers tax also increases Toronto housing prices since sellers will just add the tax cost to their selling price.

The question really needs to be asked: “Who pushed Wynne to support this ideology of stopping urban growth around Toronto?” Why aren’t the media questioning her ideology and who is behind it?




Currently, real estate is the only sector bringing investment money into Canada and Ontario. Shooting the Golden Goose just seems like a bad idea. If homelessness and lack of hope are a problem now, it’s going to be worse in 2 years.

We don’t need data to know that Foreign investors contribute to our economy.

Toronto is Where the Jobs Are

And Toronto is where Millennials aged home buyers (and new immigrant buyers) are and work. Whether they choose to live in Toronto condos or detached homes in the GTA, they want to live within commuting distance. Wynne doesn’t represent this generation’s quest for the life they want. She’s got an “alternate lifestyle” for all of us featuring poverty, big mortgages, and higher taxes.

Let’s face it, if Kathleen Wynne was your doctor, her special medicine that would shoot your blood pressure to 1000 / 860. After your head explodes she’d prescribe ice packs. The Liberal’s housing hacks are going to stifle investment and lead to higher prices by 2019. But then, she and her government won’t be around to experience the consequences. They’re the most unpopular government ever and will be heading out in the coming election next year.

Som Seif Speaks with Catherine Murray of BNN about Toronto’s future:

Lack of Housing Supply Will Keep Prices High

People have to live somewhere. Hundreds of thousands of new immigrants arrive in Toronto every year looking for homes. They’re not speculators. They want to live here and have their kids educated here. Think about how valuable a North American education is to these new foreign migrants. It’s life changing and gives their kids a big life advantage — perhaps bigger than native Torontonian kids (the forgotten).

Who Will Pay Ontario’s Whopping Debt of $318 Billion?

One way to help pay the whopping Ontario debt would be to graciously approve of foreign investment. Foreign real estate investors are already being taxed and are helping grow our economy by buying in the Ontario housing market.

Wynne also announced a new Mincome program to test out a minimum level guaranteed income for a few select Ontarians. This is probably due to her sponsor’s belief that the future looks grim for Ontarians. Her Apocalypse plan is to contain the Zombie’s within the GTA.  Why not build a fence like Donald Trump is?

Unfortunately with poor Free Trade deals, the picture for our youth is troubling, low waged, insecure, and poverty is growing visibly here in Ontario. With the exception of marijuana and tattoo shops, we have little to brag about. And with tight credit and NAFTA issues looming, you’d have to wonder how Ontario will create jobs.

Wynne’s support of the controversial Places to Grow program is at the bottom of rocketing Toronto home prices. Without land to build on, our thirst for “Places to Live” will never be quenched and prices will keep pushing upward. So her list 16 anti-investment tactics is wrapped within a failing overall strategy that will actually cost Ontario future growth and lead to higher prices.

The Toronto Housing Market Solution is Simple

Freeing up land around Toronto is the solution. There’s tens thousands of hectares of scrubland available for new housing developments (and it’s happening in Bradford, Vaughan, East Gwillimbury, and south of Barrie).

Wynne could create a new program to decentralize the economy away from Toronto and send jobs and good fortune to areas that need it.

The one good thing about the Toronto housing market boom is that money is being pushed outward to places such as Oshawa, Guelph and Barrie infusing those communities with new money. Prices in Barrie have risen 44% in the last year and this migration of investment money is giving Barrie something it rarely gets — investment and hope.




Solving the Housing Crisis

In a previous post I covered 10 ways the Toronto housing crash could be avoided and that Wynne’s government is forcing this housing crisis. The gist of the solution is to use this housing crisis as a reason to encourage investment in smaller communities outside the GTA. Instead of the current housing price spillover effect, why not actively move investment money and jobs outward to places like Barrie, Orillia, Orangeville, North Bay, Sudbury, Belleville, Gelph, Waterloo, London, Sarnia and Windsor?

The Liberal’s Places to Stop Growth plunges these communities into poverty and unwisely pushes intensification in places that don’t need it. These places are intensifying are their own.

Toronto Canada is in demand and the Investment money is already parked here.  Toronto and new incoming millennials intend to get married and start families, and new immigrants will keep adding price pressure. The 16 measures she took won’t work and in fact could stunt Ontario’s economic growth. Soon we will be battling higher rents, higher taxes, higher utilities (if we can find a place to live).

How would you rate the Wynne government’s support of small business? What are the key features of her small business growth support plan?

The foreign buyers tax was used in Vancouver which is much more Asian buyer influenced, and prices are already starting to rise again. They know how it’s all a matter of supply and demand.

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Evil Government Responsible for Toronto Housing Market Mess

Policies Designed to Maximize Taxes at Any Cost

If you listened to Kathleen Wynne, Justin Trudeau or John Tory, you’d get the impression that government plays no role in housing availability or home prices. The problem they suggest is evil speculators and petulant Torontonians who won’t buy the shoebox in the sky condos being built all over the GTA.

Fortunately, it’s easy for us to see through their thinly veiled agenda of tax gouging and greed.  Their policies have created a housing and investment crisis.  And the issue isn’t just high home prices and a likely housing market crash, it’s an ongoing lower quality of life for us all. We should be outraged.




It probably doesn’t come as a surprise to anyone young or old, that politicians are evil. I don’t think we realize just how evil ours are. When politicians put us through the financial wringer like they are, for ideological reasons, and create the market conditions we’re in, it’s justifiable to call them evil.

http://toronto.ctvnews.ca/wynne-s-approval-rating-has-dropped-to-record-low-poll-1.3125205

https://www.thestar.com/news/gta/2017/03/27/tory-makes-unsubstantiated-claims-in-support-of-subway-plan.html

http://www.torontosun.com/2017/03/25/trudeaus-popularity-drops-in-wake-of-budget

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To Raise Home Prices and Taxes: Constrain Housing Supply

The most effective tactic to raise home prices in Toronto, Mississauga, Newmarket, Vaughan and Oshawa and even Vancouver is to restrict land development and tie up builders in red tape. And while huge tracts of usable scrubland could be developed north, west and east of Toronto, it is government that stops home builders from building and enabling people’s home ownership dreams.

They named their cancerous anti-development legislation “Places to Grow,” a sick joke to those who find themselves homeless, or are depressed that all their income goes to the rich Canadian banks in mortgage payments. And while gasoline prices and food prices rocket here in Ontario, the anger is easy to read. The phrase “urban intensification” instead might be describing Ontario voters angry mood.

Screen Capture courtesy of the Government of Ontario

The last people these politicians think about is us. At a time when banks and foreign multinational corporations can trade across borders freely and print money and freely move it to avoid taxes, we get trapped in a high priced, high tax, urban intensification zone.




Dousing the Fire She Created? Photo courtesy of the Financial Post

The 3 Worst are the Ones We Voted in!

Just yesterday, Kathleen Wynne said she would utilize all administrative channels to prevent high home prices and higher rents, yet raising taxes, adding taxes and levees, applying rent controls, and punishing foreign investors just makes it worse. And if speculation is happening, it’s because these politicians have created the conditions for big profit dreams. If speculators are vultures, then surely our 3 Stooge politicians are too.

Toronto Mayor John Tory doesn’t worry about it since he like Wynne can collect the inflated land transfer taxes and beef up their “pet projects” funds. Tory doesn’t discuss better solutions because the City of Toronto helps dig itself out of its debt and deficit misery with all the fees associated with housing. And his $8 billion subway dream is what he actually believes Torontonians need most.

Prime Minister Justin Trudeau doesn’t mention supporting moving businesses and people out of the over-congested Toronto region and create jobs in towns that need them. He doesn’t talk about the fact foreign investment in Canada is at its lowest level ever.

He hasn’t mentioned lowering taxes on real estate or gasoline to ease consumers burden. He has reiterated a commitment to more Carbon taxes and a scheme that is very unfair to Canadians who live in a very cold climate. And he has no problem announcing $1 billion aid packages for any country that looks like it could use one.

More Nails in the Coffin for Ontarian’s Dreams

Even if a politician could lower prices through administration, having them drop from $1.3 million down to $1.2 million would do little for home buyers. And while these politicians give their buttery statements about home buyers dreams (which they’ve dashed) it’s ridiculous to think anyone can afford to buy a home now. And homeowners can’t sell because there’s nowhere to go. There are other municipal people who add fuel to the fire, but none are more destructive than Wynne.

Experts including Royal Bank’s president and CEO stated that Toronto’s and Canada’s economy could be damaged by what’s going on in the GTA housing market. So now the risk isn’t just Toronto, instead Wynne’s misery could bring the whole nation down!

When the Toronto housing crash occurs, everyone will be looking at “Places to Grow” as a simple political scam that should have been de-loused long ago. The sound will be so loud, even Justin Trudeau will hear about it from his hotel room in Nigeria, where he’s handing out more Canadian money.

While we’re waiting and wondering when the Toronto housing bubble will burst, we should begin planning new political representatives in Toronto, Ontario and Canada. The ones in office have failed to protect our interests and create sustainable economic conditions. As Donald Trump says, “You’re Fired!”




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Auto Insurance Quotes Toronto

Lowest Auto Insurance in Toronto

Searching online is best way to lower your Auto insurance rates. Toronto drivers will get a better car insurance quote from any insurance company by searching for it via Google.  Rates are high and that’s why you should search now for a better policy for your car or truck. Hopefully, this is the beginning of string of years where you save up to $1700 per year on your auto insurance premiums.

Not so Dumb!
Don’t be Dumb, Get the Best Auto Rates!

Don’t bother shopping locally in Mississauga, Toronto, Scarborough, York Region, Oakville, or Durham region.  I’m all for supporting local business, but they have to be competitive. It isn’t your job to line their wallets. Insist on competitive quotes from as many car insurance companies as you can.  Insurance brokerages in Toronto offer products from a big variety of auto insurers.  And you get quotes so quickly and easy now that you’re more certain the benefits and lowest rates for your truck, luxury car, or motorcycle this way.



Your Best Car Insurance Quote is Online

While you’re here, find out more about low mortgage rates, money making solar roofs, or contacting a better real estate agent in Toronto for a free home market evaluation. How does the Toronto housing market forecast look in 2017? Find better insurance rate quotes in Los Angeles, Phoenix, Boston, San Francisco, San Diego, Miami, Chicago, and Denver.

Quick, Easy to Fill out ecommerce Forms are all nice and dandy, but what you need right now is to search widely for the lowest insurance quotes and — Save Your Cash!




$10,000 Looks Good in Toronto Too!

Ten thousand dollars
Save on Your Car Insurance

No fault insurance in Ontario doesn’t mean you can give up on getting a lower insurance premium. It’s absolutely necessary to shop for a better rate. The only power consumers have to dictate prices on auto insurance is to shop and get lots of quotes.

Unwise to be complacent. If you’ve been loyal to the same  auto insurance company in Toronto, Mississauga, Scarborough, or York Region, or one of the national insurance brands for years, there’s nothing wrong with that unless they’re taking advantage of you.  Would any insurance company in Toronto take advantage of you and not keep giving you the lowest rate?

Tips to Save on Car Insurance

I’ve outlined how you can save on auto insurance premiums and here on this page, Toronto drivers can find auto insurance companies, insurance brokerages, and insurance agencies offering better rates to new customers. So come on, think positive and give these companies a chance to show what kind of super low rate auto insurance policy they can write on your vehicle.

What to Look for When Getting Auto Insurance Quotes

tipstosavemoneyIt’s tough to know when you’re getting a better quote on your Toronto auto policy when you’re not sure what it covers. There’s things you can save on and things you can improve on. Ask about accident forgiveness, rental vehicle coverage, rental replacement coverage, combining your home/contents insurance, usage-based coverage, higher deductible for collision damage, and discounts for using snow tires.




One tip that’s always bandied online is to cancel your collision coverage? Given how expensive vehicle repairs are, and the credit rating you’ll need to buy a y anew car, it might be wiser to hang onto your old beater. By all means get quotes either way and see what the difference is.

Get the best Los Angeles auto insurance rates, Phoenix auto insurance, Boston auto insurance, Chicago auto insurance, New York auto insurance,  Miami, Houston or Denver car insurance quotes.  With all the trucks, cars, and motorcycles on the roads, rates will only rise, and wait till Google’s driverless cars hit the roads in Toronto!

Learn more about liability coverage, so important in auto insurance in this infographic:

Check out insurance liability coverage on your policy. Infographic courtesy of
Check out insurance liability coverage on your auto policy. Infographic courtesy of Liabilityinsurance.org

Toronto Auto Insurance Agents

The Co-operators – Delvand Insurance Agency Ltd
3164 Yonge Street,
Toronto, ON M4N 2K6
(416) 544-8100

The Co-operators Insurance Agency
Elaine Friedman, Agent
1610 Bloor St W,
Toronto, ON M6P 1A7
(416) 604-4455

KRG Insurance Agency
2450 Victoria Park Ave #700,
North York, ON M2J 4A2
(416) 636-4544

Auto Insurance

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Look for better car insurance quotes in Los Angeles, Phoenix, Denver, San Francisco, Seattle, Chicago, Boston, New York, Dallas, Houston, San Antonio, Austin, St Louis, Minneapolis, Green Bay, Charlotte, Tampa, Miami, Orlando, Toronto, Vancouver, Montreal, Ottawa, Calgary, Kelowna, Mississauga, Anaheim, Beverly Hills, Malibu, San Diego, San Francisco, San Jose, Sacramento, Mountainview, Palo Alto,  Columbus, Colorado Springs, Fort Worth, Chula Vista, Escondido, and Honolulu.

Toronto Homes for Sale – Houses Condos Townhouses TREB MLS Private Listings

Buy a Home in Toronto, Canada

Most people from the US, UK or other countries like Toronto a lot. One thing for sure, they’re coming here to buy homes and property. The really smart ones will buy property. Because, property is really rare and can be more easily built to purpose.

Yet, the real demand is for homes. New homes are purchased very quickly  in the Toronto area. They’re a rare find.  While you can find new homes for sale in Mississauga, Newmarket, Aurora, Bradford, Vaughan, Richmond Hill, Markham, and Milton, an older home in an established neighbourhood provides the real comfort you’re seeking. The strong interest on my site for homes for sale in Bradford, Newmarket, Aurora, and Vaughan reveals that many Toronto homeowners are looking to sell their $1 Million dollar home and move north.

You won’t have any trouble selling your Toronto home. There are all cash buyers from countries around the world as well as buyers right here in Toronto. What you need help with is finding a new community and neighbourhood, and plan how you’ll invest the winfall from selling your home.  The key is to find a good Realtor™ in Toronto to help guide your choice.

Check homes for sale in Toronto Right now at HomesforSaleGallery.ca – Full MLS Listings!

Where are Chinese/Asian Buyers Buying Homes?

I’d like to Welcome visitors from the Middle East, China, Malaysia, Germany, and Hong Kong. Your choice to invest in Canada and move here is good for you and good for us. Truth is, foreign investment in Canada is at an all time low and this is hurting our economy. An improving economy, lower Canadian dollar means you’re investing in property that will appreciate.

These problems will be resolved soon, as the US begins to bring jobs back to its country. Selling your home and buying one in Canada is wise – Canada will benefit from economic and cultural improvment in the US regeneration in the US. The US has had terrible troubles in the last few decades, but looks to be ready to climb out of their depressed state.




Canada is safe, healthy, and different races and nationalities get along together as well as in any country in the world. Let’s not forget that Canada is a capitalist country and it is competitive. Come here with an open-minded, entrepreneurial attitude and you’ll fit in nicely.

Toronto Real Estate Charts (from TREB)

Here’s what has happened throughout the greater Toronto region. Please see the homes for sale Newmarket, homes for sale Vaughan, homes for sale Mississauga, York Region, and homes for sale Bradford pages for more detailed insight.

 

Screen Capture courtesy of the Toronto Real Estate Board

 

Screen Capture courtesy of Toronto Real Estate Board

What are The Best Neighbourhoods to Buy a Home in Toronto?

There’s no real answer to that question. I know people living across the greater Toronto region and each of them believe they live in the best neighbourhood.  Your choice of where to buy a home here will be conditioned by where you want to work.  Transportation routes aren’t good. I worked 30 km from my home and it was a 1 hour commute to work every day. When it snows, it’s worse.

A huge number of people work to downtown Toronto, which may appeal to you if you’re from a crowded city in China or Hong Kong. There are a lot of existing condos and many new ones being built. I have friends from Hong Kong and China who live well north of Toronto in Bradford, Aurora, Newmarket. Have a look!  They’ve purchased large detached homes and they enjoy the more rural lifestyle with clean air and very good schools for their kids.

Cities such as Newmarket, Vaughan, Milton, Oshawa are in very high demand.  Homes in some Toronto districts are pricey, but likely not out of your range. If you can spend $2 million+, the area of King City and King township may interest you. This is where the wealthy are moving to. Magna International is an auto parts manufacturer in the area. This company is set to explode in growth due to its supply of parts for self-driving cars. Magna’s new headquarters will be in King township (north of Vaughan, west of Aurora)

If you have a modest budget, homes in Bradford, Orangeville, Stouffville, Keswick may have the least expensive prices for detached homes. For find condos for sale, Mississauga and North York are your best choices. Toronto and Mississauga are large cities and there are condos for sale across them.

If you need help with finding Toronto homes for sale, and advice on buying a home in Toronto, please Contact my business partner Damir Strk (homesforsalegallery.ca) for reliable, trusted assistance.  His experience with the Toronto and Mississauga real estate market will be a big asset for you as a buyer or real estate investor.

Realty Posts: When should I Sell My House? | RETS IDX | Zillow Home Search | First Time Home Buyers | Canadian Home Buyers Guide