* <www.bnn.ca/real-estate> REAL ESTATE BNN.ca
<www.bnn.ca/toronto-condo-rents-soar-nearly-11-amid-tight-supply-urb anation-1.1053516>
<www.bnn.ca/toronto-condo-rents-soar-nearly-11-amid-tight-supply-urb anation-1.1053516>
Toronto condo renters are facing sticker shock amid a supply crunch as new mortgage rules have been pushing more prospective homebuyers into the condo market.
Nearly half of all new condos sales that were finalized last year in the Greater Toronto Area were for rental purposes, but income from them could be falling short of ownership costs, according to a new study by CIBC.
www.cbc.ca/news/business/condos-toronto-rent-investors-cibc-1.4607880
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Buying a house became more affordable in Canada for the first time in more than two years in the last quarter of 2017, according to a new report from the Royal Bank of Canada, but the relief for buyers will likely not last.
www.cbc.ca/news/business/housing-prices-rbc-1.4606354
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I thought you might be interested in this story from the Toronto Star. www.thestar.com/news/queenspark/2018/04/04/feds-pledge-100m-for-energy-efficient-housing-in-ontario.html
GTA home sales dip 39.5% in March from record-breaking March 2017
search.app.goo.gl/1UPMk
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People have stopped paying their mobile-home loans, and it’s a warning sign for the economy
search.app.goo.gl/Vu1Qp
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Highlights of the 2018 Ontario Budget March 29, 2018 — The 2018 Ontario Budget, entitled A Plan for Care and Opportunity, was unveiled by The Honourable Charles Sousa, Ontario Minister of Finance, on Wednesday, March 28. OREA has provided a summary and noted that the Budget, which proposes additional spending with a projected deficit of $6.7 billion in 2018 and continued deficits through 2024, offers little in terms of housing and no major new proposal to help young families afford a home. Below are some of the highlights and major features of the Budget: * A new Seniors’ Healthy Home Program, which provides up to $750 annually for eligible households led by seniors 75 and over to help them live independently and offset the costs of maintaining their homes; * A decrease in residential electricity bills as of July 1, 2017, by 25 per cent on average, and up to 40 or 50 per cent for eligible rural and low-income families. * A new Ontario Drug and Dental Program for those without extended health plans; * Free preschool for children aged two-and-a-half until eligible for kindergarten, beginning in 2020; * An extension to OHIP+ that will provide people aged 65 and over with free prescription medication; * An increase in minimum wage to $15 per hour in 2019; * Free college and university tuition for 225,000 students; * Investment of $2.1 billion to improve mental health care; In advance of the Budget, TREB, along with OREA and other stakeholders, successfully secured a halt on Mandatory Home Energy Audits (HER&D), and we’re pursuing an optional model. These audits would have resulted in lengthy delays in the home selling process and additional maintenance costs for homeowners
www.cmhc-schl.gc.ca/en/hoficlincl/moloin/sure/upload/2018-prospectiv e-home-buyers-survey.pdf Tony Slavin Broker <www.tonyslavin.com/> www.tonyslavin.com Real Estate Agent since 1988 Mortgage Broker #M08005434
