Mindblown: a blog about philosophy.
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Why Won’t Lower Rates Fix GTA’s Housing Crisis? | Watch Today’s Real Estate Updates & Tips
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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Ciudad local ‘en tendencia’ con clientes de alquiler a corto plazo
Airbnb informa un aumento en los habitantes de Ontario que buscan vacaciones asequibles en sus áreas locales, con Penetanguishene emergiendo como un destino en tendencia. Muchas reservas son domésticas, particularmente del Área Metropolitana de Toronto. Las ofertas de Airbnb suelen ser más asequibles que los hoteles y están ubicadas en áreas con menos alojamientos, beneficiando…
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GTA Housing Stock Gap Hits 50-Year High | Watch Today’s Real Estate Updates & Tips
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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Plummeting number of new condos could signal end of Toronto’s building boom
Toronto's housing market is showing signs of cooling, with new data from the Canada Mortgage and Housing Corporation indicating a significant decline in condo construction. Year-to-date housing starts have dropped 20% compared to last year, with single-detached homes seeing a minor decrease of 4%. In September, condo starts fell sharply from 36,441 to 28,559. High…
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Fewer Applications: GTA Housing Supply at Risk | Watch Today’s Real Estate Updates & Tips
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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The Toronto Real Estate Bubble Is So Big It Breaks The UBS Index
Toronto's real estate ranks 5th in the UBS 2024 Global Bubble Index, showing an "elevated" risk for a housing price bubble. Despite improvements in some areas, the risk remains high due to a disconnect between home prices and income. While national mortgage risk is low, Toronto sees rising delinquencies, especially among overleveraged investors. The construction…
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GTA New Home Sales Hit Historical Low in Mid-Q3 | Watch Today’s Real Estate Updates & Tips
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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This a bright red warning light’: Toronto’s housing crisis to get worse as development applications drop off
Toronto's housing crisis is worsening due to a significant decline in development applications, according to a study by Altus Group for BILD. New home construction is lagging behind population growth, with applications dropping from 2,482 in 2021 to 1,225 in 2023. The gap between housing stock and population growth is the widest in over 50…
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GTA Housing Crisis: Urgent Need for Government Action | Watch Today’s Real Estate Updates & Tips
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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Waiting list spots available to own a home on the Toronto Islands
Prospective home buyers can now apply for a chance to own a home on the Toronto Islands by joining the Purchasers' List, open for four weeks every two years. There are 27 spots available, and a draw will determine who gets added to the waiting list, which can hold up to 500 names. Homes range…
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