Mississauga Real Estate Board News

CMHC News Release: Government of Canada and Habitat for Humanity Canada celebrate new homeowners across Canada (2020-11-26)

Every Canadian deserves a safe and affordable place to call home. That is why the Government of Canada and Habitat for Humanity Canada are celebrating the progress made  through the Canada Mortgage and Housing Corporation (CMHC) and Habitat for Humanity Canada three-year (2019-2021) partnership under the National Housing Co-investment Fund (NHCF).   READ MORE...




Toronto Storeys: Will a COVID Vaccine Cause Homebuyer Regret for Those Who Fled the City? (2020-11-26)

For many restless Toronto residents, the COVID-19 pandemic was the final kick they needed to finally swap the city’s concrete jungle for more space in suburbia – and beyond, in some cases. In a climate of eerily vacant downtown offices, Zoom meetings, silent concert venues, empty (or permanently closed) city restaurants, and perpetual stir craziness, the appeal of trading downtown Toronto for the surrounding suburbs is admittedly understandable.  READ MORE...




The Globe and Mail: Tenant advocates say new measures tangling eviction appeals (2020-11-26)

At Ontario’s Landlord and Tenant Board, regular participants almost never say the word “eviction.” The lawyers, paralegals and the adjudicators who toil there disguise the ugly truth with a euphemism; they say they are seeking a “standard order,” a ruling that gives a renter 11 days to leave their home, or be forced out. Now, the community legal clinics that provide advice to renters at the LTB are warning the tribunal is moving with a reckless speed to evict, and a new digital-first approach to hearings is handing out “standard orders” and exacerbating an already inequitable process.   READ MORE...




Daily Commercial News: Mass timber buildings can be the root of Ontario’s environmental and economic future (2020-11-26)

Ontario, usually a national leader in adopting smart policy, is lagging behind its provincial peers in one important area: mass timber buildings. Creating more opportunities for wood in construction, specifically through mass timber, will help address our climate and housing crises as well as assist us in rebounding from pandemic-fuelled unemployment if paired with green-building skills training.   READ MORE...




The Globe and Mail: Buyers growing shy in heated Toronto market (2020-11-26)

People clamouring for space are pushing prices higher in the Toronto-area real estate market as buyers compete for properties. But some buyers are becoming wary of the bidding wars that have propelled prices to new records in the Greater Toronto Area. Leslie Battle, an agent with Royal LePage Real Estate Services Ltd., recently sold a three-bedroom house in the city’s east end for $1,310,786 after listing it with an asking price of $1.089-million.   READ MORE...




CBC News: Sudbury agency proposing eating-warming stations has bigger housing plans (2020-11-26)

The agency pitching a place for people in Sudbury to get something to eat and warm up in the colder months of the pandemic says it will still pursue elements of the project if city council turns the proposal down. If approved, the city would fund two trailers where Sudbury's vulnerable population could eat meals within a physically-distanced space.   READ MORE...




Better Dwelling: Canadian Real Estate Prices Surge In Growth… Except For Condos (2020-11-26)

Canadian real estate saw prices surge across the country, but not in all segments. Canadian Real Estate Association (CREA) data show the national index saw price growth speed up in October. A breakdown of the index reveals a different picture though. Since the beginning of the pandemic, single-family home prices experienced a price surge. Meanwhile, condo apartments have seen markets rapidly cool, falling from all-time highs.  READ MORE...




Mortgage Broker News: CMHC to sell "socially responsible" mortgage bonds (2020-11-26)

The Canada Mortgage and Housing Corporation has announced that it is working on a new set of guidelines that will allow it to sell “socially responsible” mortgage bonds. The news came in the wake of the federal government’s new legislation that established pollution reduction targets for Canada, with the goal of achieving net-zero emissions by 2050. CMHC currently has more than $190 billion of mortgage bonds outstanding.   READ MORE...




Real Estate News Exchange: Berkshire Axis, Fiera JV on GTA industrial condos (2020-11-26)

Industrial condominiums don’t yet have the same prominence in the Greater Toronto Area as they do in Metro Vancouver, but that may be starting to change. Berkshire Axis Development and Fiera Real Estate have collaborated on two such projects and will be launching a third in the GTA based on their early successes.   READ MORE...




Mortgage Broker News: New analysis says GTA home prices could drop by as much as 26% (2020-11-26)

A potential housing supply shock might send Canadian home prices plunging by up as much as 11% on average, according to equity think-tank Veritas Investment Research. In a note to institutional clients, Veritas cautioned that inventory might surge once the nation’s remaining mortgage deferrals expire and spending behaviour veers ever closer to the pre-pandemic normal. This is assuming that 5% to 15% of homeowners with deferrals turn into sellers.   READ MORE...




Toronto.com: Toronto advocates call for more safe, affordable housing and supports (2020-11-26)

Precariously housed people and those experiencing homelessness will suffer and die preventable deaths if more isn’t done to address these long-standing crises, say Toronto housing advocates. Monday morning, the Shelter and Housing Justice Network (SJHN), an organization that fights in Toronto and beyond for shelter rights, housing rights and human rights, hosted a press conference in the city’s downtown east end during which it outlined six demands for immediate action for all three levels of government.   READ MORE...




Reuters Canada: Canadian homes prices rise again in record October: Teranet (2020-11-19)

Canadian home prices rose 1.3% in October from September, the strongest gain for an October in the index’s 22 years, led by robust growth in the regions of Ottawa-Gatineau and Hamilton, Ontario, data showed on Wednesday. The Teranet-National Bank Composite House Price Index, which tracks data collected from public land registries to measure changes for repeat sales of single-family homes, showed prices at new peaks in eight of the 11 markets.  READ MORE...




Daily Commercial News: Reconfiguring multi-unit living in a work-from-home world (2020-11-19)

Many believed at first that the work-from-home experience would be over once COVID-19 ran its course. Clearly that is not the case. Major organizations across a wide swath of industries and governments are making the decision to keep their employees working at home indefinitely. That’s presenting a challenge for multi-unit residential owners and developers.   READ MORE...




The Star: ‘When all the parts come together it’s magic’: Condo developer and city offer refuge to Red Door shelter (2020-11-19)

For developer Chris Harhay his first memory of the old Red Door shelter plays back like a TV commercial. He was a touring a property formerly owned by the United Church at Queen Street East and Logan Avenue in 2016 with an eye to building condos in what was then the Red Door’s quarters. “A little kid comes out with a stuffed bear, and I looked around at the conditions of the shelter and they were less than favourable,” said Harhay.   READ MORE...




Leads On Demand News Release: Ontario REALTORS® Now Have Access to Canada's Smartest Lead Gen Platform (2020-11-19)

Search Corp., a Canadian real estate holdings company headquartered in Mississauga, announces the launch of its highly sought-after Leads On Demand™ platform to real estate agents across Ontario. Leads on Demand™ has been supplying innovative lead gen and marketing tools exclusively to Search Realty agents since 2012. Today marks the official release of Leads On Demand™ to agents outside of its sister company, Search Realty.   READ MORE...




The Star: Landlords can raise rents as much as they like when a tenant moves out. If that rule were scrapped, would it make for more affordable housin (2020-11-16)

For more than two decades in Ontario, as successive governments have tinkered with rent control, there’s been a moment between tenancies when landlords can raise rents to whatever they’d like. That ability is known as “vacancy decontrol.” Some see it as a kind of pressure valve, allowing property owners to bring rents up to market rates after long-term tenants leave. But others see it as driver of increasing rental costs, and an incentive to displace renters from affordable units.  READ MORE...




Toronto Storeys: Ontario Home Insurance Rates to “Rise More Aggressively” Due to Climate Chang (2020-11-16)

It’s no secret that buying real estate in Ontario is a daunting task. Should you save up to live in your dream neighbourhood that’s close to top-rated schools or settle for something more affordable that requires a longer commute? Do you wait until prices go down or that family-friendly housing development goes up? The list of questions and decisions never ends.  READ MORE...




Real Estate News Exchange: Boomers didn’t start this real estate fire, but are we fanning the flames? (2020-11-16)

Who would have thought that we boomers would prove to be such a persistently tiresome group? For those of you who enjoy the armchair sport of market watching in residential real estate, it’s been an interesting couple of quarters. Take Toronto. After years of rampant inflation, its downtown condo craze has been dashed with a dose of temperance.  READ MORE...




BlogTO: Doug Ford's government is giving developers the power to ignore conservation authorities (2020-11-16)

The provincial government is once again being accused of abusing its regulatory powers to satisfy the needs of property developers — this time, at the expense of our natural environment. It all started with the release of Ontario's 2020 budget last Thursday. Overwhelmingly long at 250 pages, the budget document contains a whole host of proposed amendments to existing provincial acts, one of which affects the Conservation Authorities Act of 1990.  READ MORE...




Toronto Storeys: Here’s How Toronto’s Property Tax Rates Compare to Other Ontario Cities (2020-11-16)

While home prices are, of course, top of mind for any prospective property buyer, property taxes are not to be overlooked. And according to a new report from Zoocasa, Toronto’s are currently the lowest in the province. As it stands, the city’s property tax rate is 0.599704%, hovering below Markham’s 0.628191%. Meanwhile, the province’s highest property tax rates will currently be found in Windsor, with a rate of 1.775679%, and following that city, Thunder Bay’s rates are at 1.562626%.  READ MORE...




CollingwoodToday: County council approves $3.4 million plan to beef up transitional housing projects (2020-11-16)

Some local projects that work to address homelessness will be getting funding to move forward due to a windfall of cash from the province, County of Simcoe councillors heard this week. And one major project in Collingwood could see more youth at risk of homelessness get the help. In October, the province announced the county would receive an additional $3.4 million in Phase 2 of the Social Services Relief funding to support homelessness services across the county.  READ MORE...




Financial Post: HomeEquity sells $100 million of reverse mortgages to Concentra Bank (2020-11-16)

HomeEquity Bank sold about $100 million (US$77 million) of reverse mortgages to Concentra Bank in the firm’s second sale of such loans as it works to build a Canadian market for the instruments. The sale represents about 12 per cent of the roughly $850 million in reverse mortgages that HomeEquity Chief Executive Officer Steve Ranson estimates the firm will originate this year.  READ MORE...




Toronto Storeys: Real Estate Continues to Contribute to Employment Growth in Canada: StatsCan (2020-11-12)

Following months of steady job growth in Canada, there was a sizeable drop in employment in October compared to the previous month. According to Statistics Canada, just 84,000 jobs were added in October — an increase of 0.5% — after growing by an average of 2.7% per month since May. In September, there were 378,000 jobs added, however, the unemployment rate reached 8.9% in October, marking little change from the previous month.  READ MORE...




Toronto Storeys: For Downtown Condo Investors, Now is the Time to Watch and Wait (2020-11-12)

As condo sales in downtown Toronto slowly creep lower as a result of the COVID-19 pandemic, would-be investors might be thinking that now’s the time to make their move on the market. But a deeper look at what’s actually going on in both the resale and rental spheres of downtown’s condo scene should encourage potential buyers to pause, and consider the setbacks they may face from jumping into the game right now.   READ MORE...




Financial Post: Loan-loss reserves dropping for mortgage lenders, but second-wave uncertainty looms (2020-11-12)

Improved economic forecasts are allowing Canadian mortgage lenders to reduce loan-loss reserves built up due to the coronavirus pandemic, even as a second wave of COVID-19 adds new uncertainty to the picture. The trend was on display Wednesday, when Toronto-based alternative mortgage lender Home Capital Group Inc. announced net income of $58.5 million for the third quarter, up more than 70 per cent compared to the previous quarter and about 50 per cent from a year earlier.   READ MORE...




Real Estate Magazine: Agents and brokerages fined for breaking telemarketing rules (2020-11-12)

The Canadian Radio-television and Telecommunications Commission says it has issued more than $100,000 in fines against real estate, investment and mortgage agents and brokerages for hiring a telemarketing firm that did not abide by the CRTC’s Unsolicited Telecommunications Rules. The commission says it received more than 1,000 complaints related to the third-party telemarketer from 2012 to 2017.   READ MORE...




Real Estate Magazine: Infill: A fix for Toronto’s housing crisis (2020-11-12)

A recent rental market study projects a shortage of up to 200,000 rental units in the Toronto and the Greater Hamilton Area (GTHA) within a decade, a trend that has been pushing vacancies low and prices high. But with a global pandemic blunting travel, immigration, employment and student accommodation, Toronto has suddenly tipped in the opposite direction: landlords courting tenants.   READ MORE...




BlogTO: Tiny micro-condos are flooding Toronto's real estate market (2020-11-12)

There's never been a better time to be in the market for a "micro-condo" in downtown Toronto — or a worse time to live in one, I'm afraid. Once hailed as the future of downtown real estate, these ultra-tiny, sky-high units — some so small that they can't fit ovens — were immensely popular in Toronto two years ago, when vacancy rates were at historic lows and rent prices were skyrocketing.   READ MORE...




Toronto Storeys: Ontario 2020 Budget Adopts Two OREA Housing Recommendations (2020-11-09)

On Thursday, Finance Minister Rod Phillips announced released Ontario’s Action Plan: Protect, Support, Recover — the next phase of a comprehensive action plan to respond to the serious health and economic impacts of COVID-19...What’s more, the 2020 Budget adopted two OREA recommendations, focused on harnessing housing as an economic engine to support businesses, create jobs, and help communities that need it most.  READ MORE...




Huffington Post Canada: Ontario's New Seniors' Tax Credit Is Really A Gift To Real Estate Lobby (2020-11-09)

Ontario’s 2020 budget delivered a number of policies the province’s business lobby had asked for — including one tax credit that the government painted as a gift to seniors...The tax credit was actually requested by the real estate lobby. A seniors’ renovation rebate would create construction jobs, spur home sales and take a chunk out of the underground construction industry, the Ontario Real Estate Association (OREA) said in its pre-budget submission to the government in August.   READ MORE...




The Star: ‘The hearing went on without us’: Legal clinics warn that emailed eviction hearing notices aren’t reaching tenants (2020-11-09)

When Angelica Donato was first notified about an eviction hearing against her at Ontario’s Landlord and Tenant Board, the notice was delivered by mail, for a date this summer that was eventually postponed during the province’s COVID-era eviction halt. But when the case was rescheduled for a virtual hearing in early September, Donato said that notice never arrived — claiming it was delivered by email to a misspelled address.   READ MORE...




CBC News: What's a bully offer? Here's what you need to know if you're buying a home (2020-11-09)

Bully offers: Some argue they give home buyers an unfair advantage — but others say, given the state of today's real estate market, it could be the best strategy to land the house you want. Jazz Chappus, a realtor with Royal Lepage Binder Real Estate in Windsor, explains that a so-called bully offer, or pre-emptive offer, is made prior to an offer presentation date set up by the sellers. "It's called a bully offer because it quite literally is a bully offer," she said.   READ MORE...




CBC News: Why the pandemic is pushing young tenants out of their tiny rentals in Toronto's core (2020-11-09)

In a 450-square-foot condo, the only place Stephen Tyson was able to put his desk was right beside his bed. Before COVID-19, it seemed like a good idea to trade living space for downtown Toronto's many amenities. But after? Not so much. "You can't enjoy the restaurants; there's not that social interaction and energy ... It doesn't really make sense paying a lot of money for a shoe box when you don't get to use the benefits of Toronto," said Tyson.   READ MORE...




Blackburn News: Pandemic-induced remote work impacting local house sales (2020-11-09)

The pandemic has put a spotlight on Sarnia-Lambton’s real estate. Real Estate Board President Donna Mathewson is noticing more people from out-of-town purchasing properties here. “With COVID this year, what we’re finding is, a lot of people are realizing that they can work remotely, whereas they didn’t think they could before, or maybe their employer didn’t think that they could before, which means geographically we could be located anywhere,” said Mathewson.   READ MORE...




Ontario Real Estate Association: Statement from OREA CEO Tim Hudak: More Results for REALTORS® & Home Owners in 2020 Ontario Budget (2020-11-06)

Today’s 2020 Ontario Budget took strong steps towards protecting the health and safety of Ontario families while laying the groundwork for a strong economic recovery. The 2020 Budget adopted two OREA recommendations focused on harnessing housing as an economic engine to support businesses, create jobs and help communities that need it most..  READ MORE...




NOW Magazine: Ontario budget stakes COVID recovery on tax relief for business (2020-11-06)

Finance minister Rod Phillips delivered the Ontario government’s budget in the Legislature this afternoon. And not surprisingly, COVID-19 dominated the province’s economic outlook and plans for the rest of 2020 and into 2021…Small businesses are also getting a break on property taxes while commercial property owners will also see a cut in Business Education Taxes. The latter was a recommendation of the Ontario Real Estate AssociationREAD MORE...




Wealth Professional: Children and seniors at centre of Ontario provincial budget (2020-11-06)

More than $15 billion is being projected as Ontario’s response to the COVID-19 pandemic. As the virus continues to disrupt lives and businesses, the provincial government announced a budget totaling $187 billion Thursday, with proposals to help families with health and finances…This move has been welcomed by the Ontario Real Estate Association that had been calling for measures that harness housing as an economic driver.  READ MORE...




Toronto Storeys: How is the Real Estate Industry Keeping People Safe as COVID Rages On? (2020-11-06)

The real estate sector, like most other industries, had to turn on a dime to cope with the pandemic completely disrupting how business was done. But, in the months since, many of those early best practices have now simply become the (new) way things are done, and in the meantime, some innovations have also appeared…“From the beginning of this pandemic we have been urging members to switch to virtual tools,” says Ontario Real Estate Association (OREA) president Sean Morrison.READ MORE...




CTV News: Ont. residential landlords call on government to accelerate evictions after moratorium (2020-11-06)

Some small-scale residential landlords in Ontario say a moratorium on evictions due to the pandemic which has now ended is still making it hard to get tenants out of their buildings. Arjumand Shafique moved to Canada from Pakistan and took out a large mortgage to buy a rental home in Bowmanville, Ont., about 76 kilometres east of Toronto, but told CTV News that his most recent tenants took advantage of a moratorium on evictions by not paying the rent and trashing the house.   READ MORE...




Canadian Real Estate Magazine: Market confidence highest since Q1: Bloomberg-Nanos (2020-11-06)

Canadians have expressed optimism in the country’s real estate market, even in spite of the COVID-19 pandemic wreaking havoc on the economy, research from Bloomberg-Nanos shows. Forty-five percent of survey respondents believe home values in their neighbourhoods will increase in the next six months, while 36% think values will be flat, and 13% expect decreases.  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