Mindblown: a blog about philosophy.
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GTA’s Home Sales Rise in Late-Q3: Is Recovery Close?
GTA home sales in September reached 4,996, slightly up from August but 8.5% higher than September last year. The increase in sales is driven by lower interest rates and affordable conditions, boosting homeownership demand.
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More housing planned for Mississauga’s Lakeview Village
Mississauga City Council has approved a by-law for community benefits and affordable housing at the Lakeview Village development, increasing unit plans from 8,050 to 16,000. LCPL will contribute $28 million for the reconstruction of the Lakeview Village Pier, in addition to a previous $14 million commitment. Five percent of units beyond 8,050 will be affordable,…
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GTA New Home Sales Hit Historical Low in Mid-Q3
New home sales in the GTA hit a historical low of 464 transactions in August 2024. August sales ↓ 46% compared to August 2023, and ↓ 73% below the 10-year avg.
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GTA Mortgage Woes: Delinquency Rates Surge 42%!
Canada’s largest mortgage lender faces rising delinquencies in the Greater Toronto Area mortgage portfolio. Serious delinquency rates surged to 0.27% in Q3 2024, a 42% increase from the previous quarter.
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Fewer Applications: GTA Housing Supply at Risk
The construction of new homes is falling behind population growth, worsening housing affordability in the GTA.Development applications dropped significantly, threatening the housing supply.
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Contested affordable housing development returns for approvals in Mississauga
An affordable housing project by Indwell Community Homes in Mississauga is under consideration. The four-storey, 51-unit building at 1639 Lakeshore Rd. W includes ground-floor commercial space. Residents oppose it due to concerns over retail space loss, parking, and safety. Funded by the Canada Mortgage and Housing Corporation and Peel Region, it aims to open in…
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Mississauga Sees Slight Decline in Rental Prices
Mississauga saw a slight decline in rental prices in September. 1-bedroom apartments averaged $2,343, ↓ 0.2% MoM, and ↓ 0.7% yearly. 2-bedroom units are priced at $2,759, ↓ 1.2% MoM, and ↓ 3.3% yearly. Despite these small declines, Mississauga remains a sought-after location due to its proximity to Toronto. New housing developments may be helping…
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Budget-Friendly Backyard Tips for Fall
Fall is the perfect time to enhance your backyard for year-round family activities and enjoyment.Cleaning flower beds and adding mulch helps retain moisture and prevents weeds in your garden.
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Why Won’t Lower Rates Fix GTA’s Housing Crisis?
First-half 2024 saw low sales due to high interest rates and construction costs, with no expected rebound. Record-low sales will lead to fewer housing starts, worsening future housing supply in the region.
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Why Should You Invest in Pre-Construction Condos?
Lower capital requirements allow investors to pay in stages, easing the financial commitment. Leverage enables control over larger assets with smaller initial investments, enhancing profit potential.
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