Mindblown: a blog about philosophy.
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Understanding Different Types of Mortgages: Helpful Tips for New Canadians
Understanding various types of mortgages and their features can help new Canadians make informed decisions to achieve their financial goals. Continue to full article
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Home Inspection Checklist Every Buyer Needs!
Roof Inspection – Look for signs of damage or aging – Conduct up-close assessments, not just visual checks – Ensure no unforeseen expenses post-purchase – Verify roof and structural warranties Foundation and Structure – Look for cracks, settling, or moisture infiltration – Assess structural integrity – Identify deferred maintenance issues early
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$1.5M Cap Change May Drive GTA Home Sales!
Raising the insured mortgage cap to $1.5 million may increase market activity, especially in the Greater Toronto Area. Around 20% of homes fall within the new range, with the GTA’s median home price at $1.2 million.
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More co-op housing could increase affordability in Mississauga
Co-operative housing in Canada, managed by member residents, offers affordable options for low- and moderate-income families. Mississauga is considering a new co-op at 1 Port St. E. as part of a larger development with affordable housing and commercial space. Although no new non-profit co-ops have been built in Mississauga since the mid-1990s, interest and funding…
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GTA Housing Supply Is at Risk
The GTA's housing supply could deteriorate in the coming years due to declining development applications. Population growth continues to outpace new housing, worsening the existing supply shortage in the GTA.
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GTA Housing Crisis: Urgent Need for Government Action
Housing stock lags behind population growth, the widest gap in 50 years. New home approvals in GTA take 20 months, increasing costs by $43,000-$90,000 per unit.
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GTA Housing Stock Gap Hits 50-Year High
The GTA population reached 5.9M, significantly higher than in 1972 when data collection began. Average municipal fees rose by $42,000 for low-rises and $32,000 for high-rises since 2022.
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GTA Condo Listings Soar Ahead of Rate Cuts
Double-digit condominium inventory growth in Toronto reflects increased seller participation as buyers anticipate future rate cuts.Average condominium prices in Greater Toronto fell by 2% compared to the previous year, reaching ~$733K
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Bruce County offering homeowners $50,000 to build affordable rental units
Bruce County has launched a pilot program to encourage homeowners to add affordable rental units to their properties, aiming to reduce a waiting list of over 1,000 people for community housing. Homeowners can receive up to $50,000 to create units like basement apartments or tiny homes, with rent capped at $1,040 for one-bedroom and $1,464…
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GTA Housing Market: Growing Demand-Supply Gap
A growing gap exists between home demand and housing starts in the Greater Toronto Area. Housing start applications decreased from 2,428 in 2021 to 1,225 in 2024, worsening affordability.
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