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We didn’t say that. This what Khaleej Times say. And this also echoed by Seeking Alpha. Some folks tend to believe the local media are inclined to parrot what the local business/government wanted you to hear. It’s for this reason, opinion by foreigne experts are somewhat influential because it is assumed experts from abroad may see what the locals couldn’t see. It’s also usually assumed foreign experts typically have no vested interest in Canada’s real estate, their opinion is therefore “impartial”. Regardless, our advise is take everything with a pinch of salt. For exmaple, if the media tells you the inflation rate is 1%, you should assume the actual figure could be as high as 10%, or if they tell you condo prices in Canada is still at a steal price because it’s still cheaper than those in Manhattan, you shouldn’t look at the price but compare other factors to see if Canada is even Manhattan to begin with? You know, this world is fu...

While real estate Vancouver is doing pretty well in June, Toronto on the other hand sinks deeper into the red: – Home sales in GTA plunge in June Greater Toronto Area home sales plunge 37.3% in June despite a jump in listings The average price of a home sold in the Greater Toronto Area was $793,915 in June, an eight per cent decline from a month earlier, according to data released Thursday from the Toronto Real Estate Board. On a year over year basis, On a year over year basis, June average prices were still up 6.3 per cent from a year ago … Fall in home Toronto home prices ‘a big surprise,’ says broker » Financial Post Significant Toronto Real Estate Price Drop in June A Big Surprise?  Not quite.  One of the main reasons is because Toronto is no Vancouver whereby we have said it all along, that Vancouver should be happening again in a matter of time – “ New Taxes On Foreign Buyers Will Not Affect Vancouver Real Estate Sales In The Long Run “. B...

Already nearly half of the folk surveyed feel they can’t afford a home, Upper, middle and low-income Canadians worried about housing prices: poll A new poll found about half of respondents who consider themselves poor or working class believe that the cost of local housing is beyond their means. The rate was 38 per cent and 37 per cent, respectively, with respondents who consider themselves middle or upper class. A new poll suggests that just over two in five Canadians believe housing in this country is not affordable for them, a finding that cuts almost evenly across income levels. The poll by EKOS Research appears even more bleak in some of Canada’s hottest housing markets, where only a small sliver of respondents said they believe homes are affordable… CBC Here comes another blow … The cost of home ownership is going to be higher: – Bank of Canada may hike interest rate for 1st time in 7 years next week After keeping rates low since 2010, central bank ma...

Doom, sorry, not yet. Boom, still going on. SOLD 31 Garden Avenue – RONCESVALLES Listing Price: $1,299,000 Selling Price: $1,550,000 3 bedroom, 3 bathroom detached house with a 2 car garage at 31 Garden Avenue in Roncesvalles. It was listed at $1,299,000 to invite bidding war. It worked. It sold 5 days later for $1,550,000. SOLD 72 First Avenue – RIVERSIDE Listing Price: $999,000 Selling Price:  $1,450,000 3 bedroom, 4 bathroom semi with 2 parking spots on a 16.60 x 126.00 foot lot at 72 First Avenue in Riverside. It was a flip. A pretty good flip listed at $999,000. Apparently someone offered f $1,350,000 – rejected . Instead, the price was increased to $1,499,000. Well, one month, this house finally sold for $1,450,000. SOLD 140 First Avenue – RIVERSIDE Listing Price: $1,049,000 Selling Price: $1,255,000 3+1 bedroom, 1 bathroom house with 1 parking spot on a 15 x 123.67 foot lot at 140 First Avenue. 2+1 bedroom in reality because the 3rd bedroom is really an o...

We knew real state data is not available to the public –  Data Ruling Appeal by TREB. We knew the government has no clue on the flow of dirty money –  Tracking dirty money, show me the laundered money. We knew the City cover-ups as reported by The Star –  Secret report reveals fire response problems  (and many more coming to this site) Today, we heard someone has been charged by Toronto Police for exposing City’s scandals (details to follow …). We will save Civil Liberty for the next topic. The first question we have in mind is how will this impact  real estate in Canada? If you are one of the deep-pockets, will you park your money in a place where corruption is rampant? Guess the answer is pretty straight forward – NO. We know rich people like those from China moved their wealth abroad is because they don’t trust their corrupt regime. Similarly for deep-pockets from elsewhere, particularly those from the third world do it for the same reaso...

Improve Your Home Invest a little cash and get a big improvement in how your home looks and feels. Learn ways to add value to your home with these home improvement tips Here are some easy DIY home improvement projects for beginners: – You don’t have to be a pro to tackle many home improvement projects. With a little elbow grease and a few smart tools, DIY novices can easily complete all kinds of household tasks efficiently and correctly. 1. Install a kitchen backsplash: You don’t need to learn how to cut and install tile. Instead, add a stylish backsplash by using inexpensive alternative materials such as tin ceiling tiles, wooden beadboard or wallpaper. 2. Loosen rusty bolts: For stubborn nuts and bolts, reach for a WD-40® Rust Release Penetrant Spray. This easy-to-use tool empowers all levels of DIYers and can be used for dozens of tasks. For this one, simply spray the bolt to loosen the rust, then turn with a wrench to remove. 3. Conceal wall blemishes: From nail holes...

Did you know 4″ x 4″ lumber is never 4″ x 4″, but measuring 3.5″ x 3.5″? Are You Being Cheated When You Buy Lumber at Home Depot? Menards and Home Depot stand accused of deceiving the lumber-buying public, specifically, buyers of 4″ x 4″ boards, the big brother to the ubiquitous 2″ x 4″. Class action suits filed last week in federal court charging Home Depot and Menard’s selling lumber that is “falsely advertised and labeled as having product dimensions that were not the actual dimensions of the products sold.” Plaintiffs in the case against Menard’s were shocked, shocked, we tell you, to discover that a 4×4 purchased at the store actually measured 3.5″ × 3.5″ and not the “advertised” measurement of 4″ × 4″. The plaintiffs — so far just two residents of Illinois — seek damages, restitution and injunctive relief from Menard’s “for selling products that did not conform to the repres...