Despite rising interest rates and increasing mortgage payments, the mortgage default rates in Ontario and Canada have remained relatively low from 2018 to today. Contrary to popular belief and rumors, the data shows that Canadians are generally managing their mortgage obligations effectively. Here is a comparative analysis of mortgage defaults over the years. Mortgage Defaults in Canada 2018-2019:...
The terms "balance," "hot," and "cool" real estate markets in Toronto refer to the overall health and activity level of the real estate market in the city. These terms are often used by real estate professionals, economists, and media outlets to describe the state of the market and can have different meanings depending on the context. Here's what each of these terms typically means: 1-Balance Real...
The Non-Resident Speculation Tax (NRST) is a 25% tax in Ontario on residential property purchases by foreign nationals, foreign corporations, and certain trustees. It applies to purchases made after March 29, 2022, throughout Ontario and before that date in the Greater Golden Horseshoe region. Exemptions from NRST include: 1-Eligible Ontario Immigrant Nominee Program...
by futurist admin2 
As of July 18, 2023, the inflation rate in Canada experienced a significant decline to 2.8% in June 2023, down from the 3.4% annual inflation rate observed in May 2023. This marks the lowest level of headline inflation since March 2021. The decline can be attributed primarily to a reduction in gas prices, which decreased by 22% compared to the previous year. Excluding gasoline prices, inflation rates were...
All Toronto neighborhoods will now permit the construction of multiplex housing following policy and zoning changes approved by Toronto councillors. This decision aims to expand housing options and meet the needs of the city's growing population. Deputy Mayor Jennifer McKelvie described the introduction of multiplexes in low-rise neighborhoods as a fairer approach to urban development. The Chief Planner...
The Greater Toronto Area (GTA) has experienced soaring rents in the first quarter of this year. Rentals.ca data shows that average asking rents in Canada have increased by $196 over the past year, with Toronto being the second hardest-hit city after Calgary. The average rent for all rental units in Toronto has seen a significant annual growth of 22.4%, reaching an average of $2,818. Moreover,...