Election stalls Quebec-Ontario border real-estate market

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The Quebec election has real-estate agents on both sides of the Quebec-Ontario border agreeing on one thing: the market is on hold as homebuyers await the outcome.

Realtors say a Parti Quebecois majority on April 7 likely wouldn’t result in the kind of mass exodus that followed the party’s first election victory in 1976.
Thousands of Quebecers, mainly anglophones, fled the province after the Rene-Levesque-led PQ stunned the rest of Canada by surging to a majority win.

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Ontario: Fire Code refers to Building Code to determine building safety

By Corruption Victim of City of Toronto It was comforting to hear the assuring statement by Toronto Fire Chief Matthew Pegg: – Officials say London inferno won’t happen in Toronto : Strict building codes and inspections should prevent similar infernos “Here in Ontario we are fortunate to have the comprehensive fire protection and fire safety measures that are contained in the building code ,” He further explains residential building in the province must be constructed with non-combustible construction (in accordance with the Ontario Building Code ) ie. be built out of materials that don’t burn. Of particular interest here is the fact that the Fire Chief himself confirmed Fire Code refers to Building Code to determine building safety . In another word, building that contravened the building Code in fire safety also violated the Fire Code (under the Fire Protection and Prevention Act, 1997). Unfortunately, an inquiry with Toronto Fire Prevention revealed the responsible...

Toronto condo builders complain they get as little respect as Rob Ford because market misjudged Builders of Toronto condominiums get as little respect these days as the embattled mayor, according to one of the city’s largest high-rise developers. “I almost know what Rob Ford feels some days because people are always taking runs at the guy,” Barry Fenton, chief executive officer of Lanterra Developments, said at the Bloomberg Canada Economic Summit Tuesday. “The truth of it is we’re good, the market is really healthy still and we have a long ways to go on the upside.” Toronto, whose mayor entered a rehabilitation center after admitting smoking crack cocaine, is in the midst of a building boom. The city of 2.8 million people has more condo towers under construction than any other North American city, according to industry researcher Emporis GmbH, fuelling speculation the market is in a bubble. Deutsche Bank AG said in a December 2013 report that Canadian real estate is 60% overvalued, wi...

Jonathan Manthorpe believes there is a direct line linking the explosive real estate bubbles in Toronto and Vancouver and how secure Chinese President Xi Jinping looks on his throne. How China’s Politics Messing Up Canadian Real Estate Markets The evidence — the vast amount of money being spirited out of China by relatives, friends and cronies of the Red Aristocracy around Xi — suggests he’s set to tumble . Last year about $US1 trillion was spirited out of China by Communist Party leaders and their hangers-on, in defiance of currency regulations. Image Source They clearly do not feel the regime is secure and want their assets hidden away in stable overseas havens like Canada, the United States, Australia or Europe. Sounds like it’s not “London Bridge is falling down”, its “The Great Wall is tumbling down”?

Vancouver, Vancouver, Vancouver. I always wonder why do foreign investors, particularly those from China are so obsessed with this city … Fengshui? Image Source Foreign investment has impact on Vancouver housing market, say researchers

To be exact, In Toronto’s housing market, ‘$2-million is the new $1-million’ The strength of the $2-million-plus market comes as Toronto home prices continue to soar. TREB said Wednesday the average sale price of a home across the Greater Toronto Area reached $585,204 in May, an 8.5% increase from a year ago. Image Source The strength of the $2-million-plus market comes as Toronto home prices continue to soar. TREB said Wednesday the average sale price of a home across the Greater Toronto Area reached $585,204 in May, an 8.5% increase from a year ago. Torontonians who can barely wrap their minds around a housing market where $1-million is the average price for a detached home might want to take notice of a new fast-approaching benchmark. Sotheby’s offers private jet, helicopter service to woo luxury homebuyers to Calgary Bank of CanadaProspective clients will be flown to Calgary by private jet from practically anywhere in the world and then taken on helicopter tour of multi-million-dol...

Inside Canada’s vibrant Rio Olympic House by Yabu Pushelberg by Lauren Ro For the first time ever, the Canada Olympic House , the Rio home base for Canadian Olympians and their friends and family, was designed by Canadians. Ontario natives George Yabu and Glenn Pushelberg, who are best known for their luxury hotel, residential, and commercial interiors like the Four Seasons Toronto and Park Hyatt New York, simply asked the Canadian Olympic Committee: “What can we do for Canadian athletes to showcase their country?” Yabu recalled. The deconstructed Canadian flag is made up of hundreds of hanging ribbons.

Previously, Renters driven to tents, rental bidding wars, and more affordability issues . More affordability stories … Forced to camp for shelter Castanet.net – Jul 9, 2016 Kelowna has a notoriously low rental vacancy rate, as low as 0.5 per cent according to some, which makes it difficult for those looking to rent something affordable. Homeless camps in Abbotsford Image Source Potential condo buyers camp out — in Abbotsford? CBC.ca – Jul 9, 2016 Given Metro Vancouver’s red-hot housing market, the sight of anxious buyers camped out in front of a condo development isn’t considered all that unusual … About 20 prospective buyers are lined up for Fraser Valley condos; some have waited close to 2 weeks.

We all know the insanity … Image Source Canadian house prices : From ‘overvaluation’ to ‘outlandish’ and ‘zany’ The Globe and Mail (subscription) – ‎Jun 21, 2016‎ One of the world’s big credit-rating agencies says it’s troubled by Canada’s inflated house prices and extremely stretched borrowers. Canada’s ‘hands-off’ housing policy is right move in free market economy Financial Post Moody’s: biggest Canadian lenders could deal with housing crash Business Review Canada Here is a real life testimony … Two couples pool money to live under one roof

Canadian greenhorns think real estate is sure win

But do they even have the what it takes to purchase a 300 square feet cookie cutter condo ? Young Canadians to put their money where their house is: RBC poll Young Canadians feel that housing remains a very good investment, according to the 21 st Annual RBC Home Ownership Poll. Nearly nine-in-ten (86 per cent) of those aged 25-34 believe that owning a house or condo is a very good investment, up from less than eight-in-ten (78 per cent) in 2013. This sentiment has echoed into buying intention, as likelihood to purchase has increased in nearly every region in the country. Interest from the 25-34 age group has increased significantly from one-in-four (25 per cent) in 2013 to nearly half (41 per cent) of respondents in 2014. This change in buying intention points to a renewed confidence in young buyers who may have felt that buying wasn’t an option last year. “The increase in the number of those who feel the housing market is a good investment, as well as the number of those w...

Bubble? What bubble? Toronto condo sales booming once again The overall resale market was blazingly hot in the opening months of 2014. In the 416 area code, the average price for a detached house in April hit $965,670 for a 13.2-per-cent jump from April, 2013. The average semi jumped an even more eye-popping 18 per cent in the same period to $702,332 from April of 2013. The average price for a resale condo unit in April was $384,758, which was a slim 1.8-per-cent increase from April of 2013. Anecdotally, we’ve been hearing how strongly sales of condo units in Toronto bounced back in the first quarter of 2014. Investors swarmed some condo sales centres as soon as new projects were launched. In the resale market, some sellers were choosing among competing buyers for the first time in a long while. Data this week from Urbanation Inc. puts some numbers to the rebound: The market research firm says sales of new condo units soared 88 per cent to 5,140 in the first quarter, compared with the ...

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