Mindblown: a blog about philosophy.
-
New Canadian mortgage rules are now in effect. Here’s what that means for Ontario homebuyers
The federal government has introduced new mortgage rules effective December 15 to improve home ownership for first-time buyers, especially millennials and Generation Z. Changes include raising the insured mortgage price cap to $1.5 million, allowing 30-year amortizations, and altering mortgage stress test requirements. These measures aim to reduce monthly payments and enhance affordability. Recent rate…
-
Housing Affordability in Canada to Recover by 2035
Despite slower population growth, affordability restoration nationally will take a decade due to persistent credit leverage effects.The Bank of Canada’s rate cuts to 2.25% by mid-2025 will mainly benefit variable-rate borrowers.
-
GTA Home Prices to Grow 5% by End-2025
Home prices in GTA are projected to rise 5% annually, reaching $1.23 million by Q4 2025. GTA remains one of Canada’s priciest markets, with average home prices above $1 million.
-
Ontario’s Winter Vacation Homes Set to Soar
The median price for Canadian vacation properties is projected to rise 7%. Canada's winter vacation properties may reach a median price of $1,019,960.
-
Town staff recommend approval for large Hillsburgh development
A zoning bylaw amendment is recommended for a new residential development at 5916 Trafalgar Road in Hillsburgh, which will include over 300 residential units, a new school, and a park. The proposal features 195 single detached homes and 174 townhouses, with provisions for adequate water and wastewater services before development. The plan addresses community concerns…
-
Toronto’s real estate market sees strongest monthly sales growth since December 2023
Home sales in the Greater Toronto Area (GTA) surged by 14% in October, marking the strongest monthly increase since December 2023, with 6,390 units sold. The average home price rose by 1.5% to CAD 1.13 million, the highest monthly increase since June. However, new property listings fell by 6.8%, attributed to high-interest rates. The Bank…
-
GTA Pre-Construction Investment Trends
Master-planned communities, combining residential units with commercial spaces and parks, attract diverse residents and investors. Infrastructure improvements and affordability in Scarborough and North York position them as key growth markets.
-
GTA Neighbourhoods’ Housing Performance in Mid-Q4
York saw a price drop, down 3 per cent to just under $1.22-million, coupled with a 1 per cent decline in sale to 11,457. Durham posted a 3 per cent price drop to $860,000, and a 3 per cent jump in sales to 8,8682.
-
Average GTA Home Prices Climb 2.6% in Mid-Q4
GTA home sales surged 40.1% in November 2024, signaling a housing market recovery. New listings rose 6.6% annually, but slower growth led to tighter market conditions and price increases.
-
Why Apartments Dominate Ontario’s Housing Market
Ontario's housing market is dominated by apartments, comprising 83.72% of new home sales, signaling a growing urban trend. Single-family homes rank second in Ontario, representing 10% of new sales, highlighting suburban preferences.
Got any book recommendations?