Katie Steinfeld

Broker of Record, On The Block Realty | Co-Founder, On The Block Auctions

[Katie Steinfeld @katiesteinfeld]

The OECD cuts global growth forecasts, warning trade wars could shrink GDP. A 10% tariff hike would hit Canada, the U.S., and Mexico hardest. No winners—just losses.

[Katie Steinfeld @katiesteinfeld]

Another program to assist Canadian homeowners to dive deeper into debt in order to increase housing supply? Or do you think this will have a meaningful impact overall?

https://t.co/bYFWk5Hii8

[Katie Steinfeld @katiesteinfeld]

@areacode416 I had a discussion a couple of years ago about underpricing with the Department of New South Wales. I really liked their approach (they have strict rules in place about underpricing) and always thought it would be a good change for our industry - https://t.co/wRCm3OtggD

[Katie Steinfeld @katiesteinfeld]

Completion can happen anytime on the day of closing - it’s important that the seller has vacated before that occurs. There is a reference to 6pm in the APS & many think that’s when the seller has until to vacate. However, point 2 in the APS, clearly states no later than 6pm.

[Katie Steinfeld @katiesteinfeld]

Tread carefully when selling a home that has been used as an STR. The sale price is subject to HST, according to this court case.

https://t.co/xafNH1YCVc

[Katie Steinfeld @katiesteinfeld]

@IanCharlebois Meh 🤷‍♀️

[Katie Steinfeld @katiesteinfeld]

New ‘bold’ mortgage reforms include 30 year amortizations for everybody and increasing insured mortgages to $1.5 million (reducing the 20% down payment requirement for homes between $1m to $1.5m)

https://t.co/yoBwqe5p5J

[Katie Steinfeld @katiesteinfeld]

@winemaker1960 As of December, its open to all first time homebuyers

[Katie Steinfeld @katiesteinfeld]

@ScrinkoCa 😂😂😂😂

[Katie Steinfeld @katiesteinfeld]

The CHBA survey found 65% of builders in Q2 2024 plan to build fewer homes as a result of elevated rates. Nearly a third (31%) of builders claim they’ve flat out canceled new developments as a result of rising rates. 

https://t.co/0hO4V7mPxG

[Katie Steinfeld @katiesteinfeld]

Back log of cases and ‘complexity of cases’ is the reported reason for the delays at the LTB. What’s it going to take to get things on track?

https://t.co/u0ilF0LKed

[Katie Steinfeld @katiesteinfeld]

According to Employment and Social Development Canada, about 700,000 of the four million Canadians who work in the trades are expected to retire by 2028.

https://t.co/uNSNNVGhFk

[OREA @OREAinfo]

On Tuesday, July 23 at 9:30 a.m., join Joseph Richer, Registrar of @RECOhelps, for an exclusive OREA webinar on enhancing consumer trust. RSVP now & gain valuable insights & guidance tailored for brokers and managers: https://t.co/IGu3Kz6SAl

[Katie Steinfeld @katiesteinfeld]

MNP Consumer Debt Index drops six points, reflecting Canadians’ worsening debt outlook despite recent interest rate cut

MNP Consumer Debt Index | MNP LTD | Licensed Insolvency Trustees, Bankruptcy & Consumer Proposals (https://t.co/0C96xlTrst)

[Katie Steinfeld @katiesteinfeld]

According to 2022 figures from the BOC, approx 20% of variable-rate mortgages have a variable payment & 80% have a fixed payment. Based on this chart, almost 50% of variable rate, fixed payment mortgage holders have not been subject to an increase in payments yet.

[Katie Steinfeld @katiesteinfeld]

3 episodes where the BoC’s policy rate maintained a significant negative spread vs the Fed:
1995-1998: 250 bps spread, loonie ⬇️ to 63 US cents
1999-2000: 75 bps spread, loonie ⬇️ 62 US cents (record low)
2003-2006: 100 bps spread, higher oil prices helped Cndn $ this time

[Katie Steinfeld @katiesteinfeld]

There's not much consistent about the Vaughan condo market over the past five years.

[Katie Steinfeld @katiesteinfeld]

@smiksteelers @danielfoch Not as fun though

[Daniel Foch @danielfoch]

Toronto rents vs mortgage payments since 2008

[Katie Steinfeld @katiesteinfeld]

@danielfoch That’s a wild chart 😳