Mississauga Real Estate Board News

Financial Post: The parties' housing promises are built on unsound foundations (2021-09-14)

A basic principle of good governance in Canada is that governments set mandates for crown corporations and regulatory authorities and those arm’s-length institutions then make use of the tools at their disposal to design actual policies. This principle is under threat on the campaign trail as politicians weigh in on one of the issues voters care most about these days, housing affordability.   READ MORE...




Postmedia Network: Housing affordability crisis unlikely to improve any time soon (2021-09-14)

This election cycle, housing affordability has emerged as one of the most unifying yet paradoxically most polarizing issues among Canadians. We have all watched housing prices skyrocket over the past decade, many of us shaking our heads in amazement as real estate markets inexplicably powered on through the uncertainty and instability of a global pandemic. With Vancouver and Toronto now among the world’s most unaffordable cities, it’s not alarmist to call this a crisis. Thus, this issue has been front and centre.   READ MORE...




The Canadian Press: Capital gains tax on main residences unlikely to solve housing problems, experts say (2021-09-14)

Housing affordability is front of mind for Canadian voters, with the three major parties each vowing in their election platforms to make it easier for families to purchase homes. One market-cooling option in the policy toolkit: taxing capital gains on the sale of principal residences. Politically, it’s not an easy proposal to sell.   READ MORE...




CTV News: Housing prices in this Ontario city are absolutely booming (2021-09-14)

People selling homes in one Ontario city are scoring big as housing prices surge to record levels. The median price for a home in Brantford, located about 110 kilometres south-west of Toronto, has skyrocketed more than 40 per cent over past year, figures show. In July 2021, the median price for a Brantford home was $777,026. The average price of a detached home in Toronto is currently about $1.7 million, meaning that in Brantford, you could save one million dollars.   READ MORE...




CBC News: Available and affordable housing a top concern in Cambridge this federal election (2021-09-14)

The housing crisis is a "national emergency" and needs to be addressed immediately, the Green party candidate for Cambridge says. In a panel discussion with CBC Kitchener-Waterloo, Michele Braniff said while the Liberal government's National Housing Strategy is in place, the 10-year timeline to build more housing  "is too slow." "The Green Party is pushing. We need to move faster. Right now, the Greens would declare a national emergency," she said during the panel.   READ MORE...




CBC News: Former urbanites could affect rural riding results in 2021 (2021-09-14)

When Cian Cruise and his young family decided to move out of downtown Toronto, they were looking for a small town with a community feel, access to nature, and culture. When the hunt began, the rural town of Almonte, Ont., west of Ottawa, fit the bill…A recent study by the Ontario Real Estate Association found about 60 per cent of Ontarians have considered moving outside Ottawa or the Greater Toronto Area (GTA) to places where homes may be more affordable.   READ MORE...




Postmedia Network: Blame slow approval process for lack of housing supply (2021-09-14)

Famed theoretical physicist Albert Einstein is credited with saying that the definition of insanity is doing the same thing over and over again and expecting different results. He was right. If we are to get a handle on the current housing crisis in Ontario, we need to think out of the box and find new ways to boost supply. The current way of doing things is not working. We have the lowest number of housing units per capita of any G7 nation.   READ MORE...




Financial Post: First Home Savings Account called 'voter candy for millennials' by mortgage insider (2021-09-14)

Famed theoretical physicist Albert Einstein is credited with saying that the definition of insanity is doing the same thing over and over again and expecting different results. He was right. If we are to get a handle on the current housing crisis in Ontario, we need to think out of the box and find new ways to boost supply. The current way of doing things is not working. We have the lowest number of housing units per capita of any G7 nation.   READ MORE...




Financial Post: First Home Savings Account called 'voter candy for millennials' by mortgage insider (2021-09-14)

Housing affordability has been a recurring theme on the campaign trail this election, but when it comes to the proposals that have been put forward to address it, one has attracted the most debate. Last month, the Liberal Party proposed a new tax-free First Home Savings Account (FHSA) that would allow those under 40 to save up to $40,000 and withdraw it tax-free with no obligation to repay the funds.   READ MORE...




MoneySense: Federal Election 2021: Would the parties’ housing proposals help you afford a first home? (2021-09-14)

As home prices continue to rise into the stratosphere, ownership is becoming out of reach for an increasing number of Canadians. So, it’s not surprising that the upcoming 44th federal election has all three major political parties promoting their “solutions” to help first-time buyers get a foothold in the real estate market. The initiatives include various ways to increase housing supply, which experts agree is the best way to put some downward pressure on prices.   READ MORE...




CBC News: Latest threats of rising interest rates and high inflation may shift real estate outlook (2021-09-14)

Popular outrage at the soaring price of Canadian housing has a fix that almost no one is talking about — certainly not those aspiring to be Canada's prime minister. While they have not framed it specifically as a method of curbing Canada's property sector, central bankers are the exception to that rule. Bank of Canada governor Tiff Macklem insists he is preparing to push a lever expected to have a real effect on the escalating price of houses: hiking interest rates.   READ MORE...




The Star: How to put together your first down payment for a home without jeopardizing your financial future (2021-09-14)

Chris Villegas-Cho and his partner knew they couldn’t rent their one-bedroom apartment in Toronto forever. The pair wanted more space for themselves and visitors, and decided to look for a bigger home. But this time, they decided they would own instead of rent. “I did the math (and) … the rental price for the equivalent unit was more or less the same,” said Villegas-Cho.   READ MORE...




Financial Post: Canadians consider splitting a mortgage with friends. But it's complicated (2021-09-14)

Canada’s hot housing markets have been pushing home affordability out of reach for younger Canadians over the years, meaning that in order to get a piece of the market, some Canadians will have to get creative. According to a survey by real estate company RE/MAX, one in three Canadians are looking into alternative ways to finance their dreams of home ownership, such as multi-person housing, which could have a group of friends or family pool together their finances to get approved for a mortgage.   READ MORE...




STOREYS: Canadian Housing Sales to Drop 20% in 2022, Price Gains to Slow: RBC (2021-09-14)

In its September macroeconomics report, RBC noted that it expected housing sales in Canada to decline by up to 20% in 2022. The current market, one RBC calls ‘in transition’, has of been on fire since the second quarter of the pandemic in July 2020. A remarkable run that saw the national average sale price reach $662K in July 2021, up 15.6% year-over-year.   READ MORE...




CBC News: Can Canada solve its housing crisis without making climate change worse? (2021-09-10)

Two ongoing crises have been consistent points of focus on the campaign trail ahead of Canada's federal election on Sept. 20: a dire shortage of affordable housing and climate change. All of the major federal parties have made lofty commitments with respect to both issues. You can read breakdowns of housing promises here and here, and climate change promises here and here. While perhaps not obvious, the two issues are deeply interconnected.   READ MORE...




King Weekly Sentinel: Cost of homes driving young people away (2021-09-10)

It’s been said that most of us are born, live and die within a 300-kilometre radius. For me, that’s definitely true, being born and bred right here in the GTA. And it’s true for many of my peers, except one who found his calling south of the border...A recent survey indicated that almost half of prospective home buyers under 45 are considering moving out of Ontario because they can’t afford a home here. The Ontario Real Estate Association (OREA) poll shows Ontarians feel housing affordability in the province is getting worse and the future is not looking better for homeownership.   READ MORE...




Postmedia Network: 'It's what we have to do': Liberal candidate says housing tax is coming (2021-09-10)

The Trudeau Liberals have some explaining to do on a hot-button issue after one of their candidates said the party will be taxing people who sell their homes. The Conservatives have been claiming the Liberals will, if re-elected, bring in a tax on the sale of primary residences — something not currently done in Canada. The Liberals though say the Conservatives are being selective in their use of video clips and have issued another showing the candidate saying that policy would not be brought in.   READ MORE...




Chatelaine: Canada’s In A Housing Crisis. Here’s How Each Party Is Promising To Address It (2021-09-10)

In the lead-up to the federal election on September 20, Canada’s housing crisis has become one of the most pressing issues among campaigning political parties. For decades, housing prices have risen faster than incomes, and as a result, both owning and renting a home is unattainable for a growing amount of Canadians. A report by Oxford Economics released in May 2021 found that homes in Canada are 34 percent more expensive than the median income household can afford.   READ MORE...




Canadian Real Estate Magazine: Home prices will flatten in 2022: RBC (2021-09-10)

The winter buying frenzy in Canada’s housing market has given way to a restrained pace of sales that will culminate in prices flattening early next year, says a report from RBC Economics. Not only is an uncontrolled upward price spiral now unlikely, low inventory and strong demand, as seen through historically strong resales, will prevent prices from falling. But despite low interest rates, housing prices are high enough that affordability remains a major problem in Vancouver and Toronto, and it’s a growing issue in Montreal, the second largest city in the country.   READ MORE...




Daily Hive Toronto: Here's how much the average Toronto homeowner has in debt (2021-09-10)

With Toronto housing prices soaring sky-high over the past year, the average homeowner in the city has an equally high amount of debt to match. A new report from fintech company Borrowell reveals that Toronto homeowners now have, on average, a whopping $608,296 in debt. This is the second highest of any city in the country, just behind Vancouver’s $629,803. Not too surprisingly, the vast majority of money owed is in the form of mortgages.   READ MORE...




City Centre News: Toronto needs real affordable housing, not more luxury rentals (2021-09-10)

If anything, the pandemic has reinforced the vital role of governments in protecting people’s right to housing. With a federal election upon us, it’s time to make sure all parties do more to build and protect affordable housing. Toronto has been well-known for its housing crisis which worsened during the pandemic. The irony is that instead of federal policy solutions aiming at building affordable rentals, we are seeing the exact opposite.   READ MORE...




Unpublished TV: ELXN2021 On UnpublishedTV: Affordable Housing (2021-09-09)

Panel Discussion featuring OREA President David Oikle

It’s the dream of pretty well every Canadian to own their own home. Do you remember the time you got the keys to your first home? I do. It’s a goal fulfilling feeling. But, it’s a dream out of reach for many Canadians right now, which is why all the federal parties are preaching about their platforms to provide more affordable housing. Will any of the parties’ plans for affordable housing work?   READ MORE...




Canadian Real Estate Magazine: Don’t outlaw blind bidding, alter it: broker (2021-09-09)

Blind bidding in the homebuying process has been called into question recently, with the prime minister of Canada even making an election promise to outlaw it—and drawing censure from two real estate organizations in the process—but one Toronto-based broker believes Canadians need more choice, including an alteration to the current process…Two weeks ago, the Ontario Real Estate Association (OREA) excoriated Justin Trudeau’s pledge to prohibit blind bidding, which the prime minister reasoned would help decelerate rapidly rising home prices, by releasing a statement in which it accused him of criminalizing hardworking families.   READ MORE...




The Conversation: ‘Home sweet home’ is a dying dream: Federal election promises won’t solve affordable housing crisis (2021-09-09)

Housing affordability is one of the top federal election concerns. However, there is no clear solution to fix the current complex housing crisis in Canada. The Liberal Party is hoping to build on their National Housing Strategy by incentivizing developers to construct rental properties. The Conservatives are also advocating for increasing the housing supply, yet the image accompanying their housing proposals is of a suburban neighbourhood full of single-family dwellings.   READ MORE...




Postmedia Network: Liberals laying groundwork to tax homeowners’ equity (2021-09-09)

There are a bunch of reasons I don’t trust the Trudeau Liberals when they say the will never impose a home equity tax. As Sun columnist Brian Lilley pointed out on Wednesday, the list of broken Liberal tax promises is a very long one. Perhaps the most famous is the Chretien Libs’ 1993 pledge to get rid of the GST if elected. Not only did they not eliminate the federal sales tax, a dozen years later when the Harper Conservatives dropped the rate from seven per cent to five per cent, the Liberals wailed that lowering the tax was fiscally irresponsible.   READ MORE...




BlogTO: This is the latest small Ontario city where home prices are exploding (2021-09-09)

The average price of a home continues to climb not only in Toronto, but in cities and towns all over the province as demand remains strong among buyers for a detached property... pretty much anywhere. Initially thought to be driven by young people leaving downtown Toronto for larger, cheaper homes from which to work remotely (the COVID-19 urban exodus, it's been called), this phenomenon only appears to be intensifying as Ontario slowly reopens.   READ MORE...




The Globe and Mail: Toronto’s ambitious Housing Now drive is stuck in neutral (2021-09-09)

To even the most jaded observers, it seemed like an auspicious development in the long and mostly unproductive fight to create more affordable housing in Toronto. After an intense showdown on this issue during the 2018 mayoral election – which previewed the housing debate in the current federal campaign – Mayor John Tory wasted little time unveiling an ambitious plan, dubbed Housing Now, with two novel and critical ingredients.   READ MORE...




VICE Media: Can Any Campaign Promises Stop Canada’s Out-of-Control Housing Crisis? (2021-09-08)

The closest Emilly Renaud believes she’ll ever get to owning a home of her own may be a patch of land to camp on whenever she feels like heading into the wilderness...Canada’s ridiculously high housing prices are not turning prospective homebuyers, especially those under 30, off the idea of homeownership. They’re just crushing any hope of getting the keys. Roughly 80 percent of Canadians aged 18 to 29 want to buy a house, according to an Abacus Data survey for the Ontario Real Estate Association back in June.   READ MORE...




Canadian Real Estate Magazine: Unexplained wealth order touted to fight money laundering (2021-09-08)

Talk of a beneficial ownership registry, which, it is believed, would prevent numbered companies from owning real estate and deal a major blow to would-be money launderers, is misguided, say two Toronto-based lawyers, one of whom proposed establishing an unexplained wealth order instead…Still, some corners of the real estate market, notably the Ontario Real Estate Association, believe a beneficial ownership registry is the ideal solution to keeping money laundering out of real estate.   READ MORE...




BNN Bloomberg: Here are 5 ways the feds could fix Canada's housing crisis (2021-09-08)

Housing has been a hot topic in the campaign for Canada’s 44th parliament. Every major party platform offers proposals for reining in what has become a nationwide affordability crisis. However, experts say the most effective potential solutions have either received scant attention from the federal platforms, or have failed to be included at all. Five of them are broken down in detail below.   READ MORE...




Real Estate Magazine: Canada needs to get housing right (2021-09-08)

The people can be forgiven for viewing elections with indifference. Like a spouse’s obsession with binge watching old television shows (that weren’t great when new), the themes can seem dully repetitive. Yet for those in the real estate industry, the pandemic-fuelled, hyper-focus on the importance of one’s home has elevated housing to arguably the most important issue in the 2021 federal campaign.   READ MORE...




Postmedia Network: Voters have many reasons not to trust Trudeau on home sales tax promise (2021-09-08)

There’s a very good reason that every homeowner in Canada should be worried that a re-elected Liberal government will put a capital gains tax on their home when they sell it. Simply put, Justin Trudeau promised not to do it and his track record on promises is sketchy at best. There’s also the small point that putting a capital gains tax on the sale of some primary residences is right in the Liberal platform.   READ MORE...




The Globe and Mail: ‘No one is saying boomers didn’t work hard’ (2021-09-08)

I wrote an opinion piece in the spring in which I listed the ways the housing boom is ripping apart the financial fabric of Canadian life Loading... . Several months later, I’m starting to think I missed something. An emerging negative from the housing boom is intergenerational tension. A few weeks ago, The Globe and Mail published a First Person account that was headlined Boomers, stop bragging about your second homes.   READ MORE...




STOREYS: Inclusionary Zoning: The Solution We’ve Been Waiting For or a Detriment For New Development? (2021-09-08)

Later this month, a proposed policy is being presented to City Council that could impact the future of affordable housing in Toronto. The proposal is on inclusionary zoning — a contentious topic that many members of the planning and development industry have differing opinions on. But, first things first, what is inclusionary zoning and how will it impact housing in Toronto?   READ MORE...




Wealth Professional: Ontario realtor group applauds parties’ focus on housing affordability (2021-09-07)

Amid a tight election race, all three major federal parties have made Canada’s housing crisis a key plank in their respective campaign platforms – a smart move given how out-of-control prices have gotten across the country. And one industry association is expressing its approval. In a statement, Ontario Real Estate Association (OREA) President David Oikle said his organization is “thrilled” to see that homes have emerged as a focal point in this federal election.  READ MORE...




Postmedia Network: Housing affordability key election issue (2021-09-07)

With real estate markets across the country shattering records, it’s no surprise housing affordability quickly became a key issue in the federal election campaign, reigniting the fierce debate on blind bidding. The Liberal Party’s pitch to amend the Criminal Code to ban blind bidding would “criminalize hardworking Canadians,” says Ontario Real Estate Association president David Oikle.   READ MORE...




National Post: What Canada's real estate leaders want from the next federal government (2021-09-07)

As the Sept. 20 federal election draws near, Canada’s competing political parties have made some bold promises about housing. The NDP’s pledge to build 500,000 affordable housing units in the next 10 years is ambitious enough. But the Conservatives, who’ve committed to building a million homes over the next three years, and the Liberals, who say they’ll build 1.4 million “new, market-priced” homes by 2025, will also have their work cut out for them should they find themselves in power.   READ MORE...




The Star: Can’t afford a house? Fractional investing lets you ride the real estate wave without one (2021-09-07)

Wingreen Court Apartments is a sprawling complex of residential buildings in North York, complete with 99 units divided into one- and two-bedroom suites. It’s surrounded by reputable schools, popular retail centres and residential developments to accommodate the roughly 330,000 Torontonians living nearby. The property is a hot commodity in the city’s blistering real estate market — but investors can buy a stake in it for as little as one dollar.   READ MORE...




Real Estate Magazine: OREA, TRREB oppose Liberal Party’s blind bidding ban proposal (2021-08-31)

The Ontario Real Estate Association says the Liberal Party of Canada’s housing plan “would criminalize the ability for hardworking Canadians to choose how to sell their homes, by regulating real estate practices through the Criminal Code.” OREA’s statement, posted on its website with a photo of a jail cell, takes aim at the Liberal election promise to ban blind bidding during a real estate transaction.   READ MORE...




Windsor Star: Realtors 'disturbed' by Liberals' plan to regulate real estate market (2021-08-31)

The Ontario and local real estate associations panned the federal Liberals’ plan to eliminate blind bidding in the home market saying it does not address the root cause of soaring house prices and it limits Canadians’ options. “One aspect of the Liberal Party of Canada’s housing plan would criminalize the ability for hardworking Canadians to choose how to sell their homes, by regulating real estate practices through the criminal code,” Ontario Real Estate Association president Davie Oikle said.   READ MORE...





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Mississauga Real Estate Board
3450 Ridgeway Dr #1
Mississauga, ON L5L 0A2, Canada
Phone: 905.608.6732
Fax: 905.608.9988