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Demand outpacing supply is the main reasons for Toronto’s sky-hig real estate prices. Now, according to a new survey, Millennials are calling for greater density in the GTA. According to the survey by Toronto Region Board of Trade, 83 percent of GTA Millennials says that the cost of housing is making it hard to save up for retirement. On the other hand, 65 per cent reported that it is difficult to payoff debt with the current housing price The solution? A whopping 79 per cent of Millennials surveyed said that there weren’t enough two- and three-bedroom condos and apartments available in the GTA. Interestingly, 62 per cent surveyed said that there were already too many one-bedroom condos on the market. “I think that particularly finding comes from the fact that a lot of Millennials will eventually want to start families, and they’re looking for an affordable option to do that,” TRBOT CEO Janet De Silva tells BuzzBuzzNews. According to Urbanation, Toronto’s purpose-built vacan

Montreal Housing Market is  'On Fire' As Sales Drop In Toronto, Vancouver and things are just getting better!  Montreal was one of Canada's hottest real estate markets last year as low unemployment and economic growth translated into the area's best sales growth in a decade. Total sales in the Greater Montreal Area increased eight per cent to 44,448 on the strength of condominium sales and good overall activity on the Island of Montreal. Sales growth exceeded 20 per cent in five of the city's most popular borough s. Last week  CDPQ infra which is dedicated to the development of infrastructures and their management, announced that they are planning to build the largest public transportation network built in Montreal in the last 50 years: known as the Reseau express metropolitan, or REM. The project which is set to start construction in April and welcome riders in the summer of 2021 is a regional light rail project which will consist of 26 stations acr

The first half of 2017 was a dark time for GTA home buyers. Home prices were raising to unheard heights, which caused many buyers to question if they can even afford to own a property in the area at all. According to Hilliard Macbeth, 2018 might finally be the perfect time to buy! Macbeth says "for those few people who have waited for house bargains, 2018 could be the year," and that "your patience will finally be rewarded." MacBeth predicts that interest rates and mortgage rates will be on the rise over the course of the year. The bank of Canada has increased interest rates twice in 2017 and markets are expecting more in 2018 says MacBeth.  MacBeth also predicts a decrease in consumer spending, after a solid 2017. Retail sales rose from $25 billion in 2009 to $34 Billion in 2017. A final factor in a cooler housing market for 2018 is that the plunging Canadian dollar is bringing with it falling housing prices. The darkest of MacBeth predictions? That the

Sure, most Canadian housing markets are projected to see a cooler first quarter in 2018, but what about Toronto? As one of the country’s hottest real estate markets, it often doesn’t follow national trends. According to industry experts, it is likely that the Toronto market will cool over the next few months, as it adjusts to new mortgage rules and an interest rate hike. In the first two weeks of January alone, condo sales dropped 21 per cent year-over-year, while detached home sales fell by 20 per cent. Experts anticipated that GTA market is off to a slow start in 2018 But what about the rest of 2018 — what can Torontonians expect from the sometimes hard-to-predict market? These experts have some ideas. Condo prices on the rise As many continue to be priced out of the low-rise market, Toronto’s condos have long been the property type of choice for first-time buyers on a budget. But as demand — and prices — continue to climb, that may come to an end in 2018. “While many en

Canadians getting, renewing or refinancing a mortgage might have to prove that they would be able to cope with interest rates substantially higher than their contract rate. New rules by Canada’s federal financial regulator announced in October mean that  even borrowers with a down payment of 20 per cent or more will now face a stress test, as h as been the case since January of 2017, for applicants with smaller down payments who require mortgage insurance. Some 10 per cent of Canadians who got an uninsured mortgage between mid-2016 and mid-2017 would not have qualified under the new standards, a recent analysis by the Bank of Canada suggested. To put a number on it, the rules will likely affect about 100,000 homebuyers, who would qualify for a mortgage for their preferred house today but will likely fail the stress test for an equally large loan next year, according a  report  published by Mortgage Professionals Canada, an industry group. Here’s how the new guidelines mig