May 2023 Market update -
Prices Rise for Third Straight Month as Supply Drops to Record Low.
Average resale prices jumped 4.0% month-over-month in April
Please take time and do your due diligence before booking your pre-con house / apartment -
Albion Building Consultant Inc. - Toronto home builder banned from new construction, failing to enroll new homes in the Tarion program, which is mandatory.
https://t.co/Ya3mhwj25N
Future immigrants inflow suggests that existing policy tools could easily fall short and further increase in housing demand.
Are we going to see "Seller's Market" soon again?
https://t.co/pIm8j2ylrm
Bank of Canada increases policy interest rate by 25 basis points, continues quantitative tightening.
Printed money, in history,has never been free or good for the lower and middle-class. CERB was not free and will end up costing the Lower and Middle Class more than they ever.
In 2009, Canadian vendors have successfully sued purchasers who backed out of a sale, usually for the difference between the original purchase price and the lower price that they eventually sold the unit for.
People often buy pre-con units with just a small deposit and preapproval from a lender. If itโs a hot market, they can sell a short time later for a profit without having put up much money. But a declining market exposes these buyers to significant risk. That happened in 2009.
National home sales were up on a month-over-month basis in December 2022.
Highlights:
National home sales rose 1.3% month-over-month in December.
Actual (not seasonally adjusted) monthly activity came in 39.1% below December 2021.
The avg price posted a 12% yoy decline in Dec 22
Simple solution: Whenever you go on vacation -
Smart home could be a good solution to these frauds, to have door bell camera + Indoor motion censor cameras
Thieves stole a Toronto condo -
The impersonator appears to have duped the buyer, two sets of property agents, lawyers involved in the sale, a major bank and the Ontario land registry. @PraladSalvi
https://t.co/VTMS5uiUae