Mississauga Real Estate Board News

City News: 'These can be very, very large plants:' the risks of growing cannabis at home (2018-10-15)

When marijuana prohibition ends on Wednesday, it will also become legal to grow cannabis at home – and that has some realty groups sounding the alarm about the relatively unknown risks of cultivating the plant. The damage can get extensive, even impact property values, and critics say it is far different than taking care of other common house plants. “I deal with a lot of first time buyers in the small community I’m in,” said Steve Kotan, Chair of OREA’s Ontario Realtor Party Committee. “They’re concerned about everything when they walk into a house. They’re concerned about the yard size, they’re concerned about the windows, they’re concerned about the electrical and everything. You walk into a home and it has four cannabis plants growing at unlimited sizes, I’m sure they’re going to have concerns.” OREA has a five-point plan with extensive recommendations, including mandatory training for home inspectors to spot the signs of a former grow-op, and for the government to provide clear guidelines about disclosure requirements. Read More....




Toronto Star: Lift the secrecy from home-buying (2018-10-15)

Buying a home is the most significant purchase most people will ever make. But until now would-be purchasers have had to do it with a blindfold on, since realtors are not allowed to share the details of an offer with anyone other than the seller. That means home buyers have to guess at what the winning bid might be before submitting their own offer. Now the Ontario Real Estate Association (OREA) is recommending that the province adopt a new open process that would allow buyers to know how much others are bidding on a home and what conditions are in their offers. This is a sensible idea the Ford government should enact when it updates the 2002 Real Estate and Business Brokers Act that governs how real estate is transacted in this province. And it can’t move quickly enough on that file. Read More....




Toronto Star: Ford’s call to derail energy audits will benefit the home sale process (2018-10-15)

The Ontario government’s decision to repeal the Green Energy Act has also changed the rules for homeowners looking to sell their properties. In an email to me last week, Sydney Stonier, press secretary to provincial Energy Minister Greg Rickford, confirmed that “the repeal will terminate mandatory home energy audit initiatives.” Under the former Liberal government, the program would have come into place by next year and forced energy audit before Ontario homeowners were allowed to sell their homes. During the long consultation process over imposing mandatory energy audits, a split developed among industry stakeholders. The Ontario Home Builders’ Association was supportive, touting numerous spinoff benefits including increased jobs and reduction in energy demand. Ontario’s realtors, on the other hand, were strongly opposed to the imposition of “time of listing” energy audits. The Ontario Real Estate Association (OREA) detailed its objections in a 2015 submission to the energy ministry — they included that the audits are unfair, would put consumers at risk, hurt the housing market and do little to curb greenhouse gas emissions. OREA proposed an alternate solution by making energy audits part of an optional standard home inspection. This, it suggested, would protect consumers, limit market disruption and help achieve the province’s intended policy objective. Read More....




Real Estate Professional: An alternative take on foreign home ownership (2018-10-15)

The influence of foreign homebuyers on housing markets is a much-debated one but a new report suggests a new take on the correlation between foreign ownership and high prices. A study of US Census Bureau data by mortgage lending platform LendingTree suggests that a market’s high home prices may attract foreign homebuyers rather than them being the cause. The study looked at where foreign homeowners are most prolific and found that, generally, cities with the largest share have higher home prices. Prices in the top 10 cities for foreign-born owners average U$491,750 compared to $167,560 for the bottom 10. Read More....




Toronto Star: In Toronto’s tough rental market, live-work units offer ideal option for some business owners (2018-10-15)

You might do a double-take when you walk into Michel’s Bespoke, a business operating on the outer edge of Toronto’s Fashion District. There’s a fashion mannequin at the front of the store, expensive suits, shirts and ties on racks and in display cases. But behind the green curtains used by customers for privacy when trying on clothes is a fridge and stove. There’s also a dishwasher. And upstairs is co-owner Paul Di Palma’s bedroom. Di Palma and partner Michel Karkar, a bespoke tailor, began leasing the 1,000-square-foot live-work townhouse in June 2017. Spaces like this are hard to find in the city. Many are artists’ residences. Some are units in converted warehouses and factories. Others, like Karkar and Di Palma’s, are in relatively new townhouses and condos downtown. With the high cost of housing and commercial space in Toronto, live-work is an appealing option. Read More....




MSN: These GTA neighbourhoods still have affordable detached homes (2018-10-15)

Condos may be king as an affordable housing option for many in the Greater Toronto Area, but let's face it — for some, a detached home is the only choice. Some are lucky enough to climb the property ladder from a semi or townhouse; others are happy to move further out of the city in search of that white picket fence and backyard. And despite what recent reports would have you believe, there are still some affordable neighbourhoods for single-family homes in the 416 and 905 areas. "Affordable" being a relative word, of course, as compared to average prices. As of Sept. 30, 2018, the average price of a detached home in the GTA is $1.01 million — $1.34 million in the 416, and $905,722 in the 905, according to the Toronto Real Estate Board (TREB). Read More....




Financial Post: OREA asks Ontario to allow more 'transparent' bidding process, revamp realtor rules (2018-10-12)

The Ontario Real Estate Association is making more than three dozen recommendations to the provincial government on how it should update the rules governing realtors, including allowing for a more open bidding process for buyers and sellers. In a report Thursday, the group says the Real Estate and Business Brokers Act (REBBA), which was put in place in 2002, is in need of a revamp. “The average price of a home in 2002 was $275,000 in Toronto and most deals were closed by a fax machine,” said Tim Hudak, chief executive of OREA, which has more than 70,000 members. “This legislation is out of date.”. Read More....




Toronto Star: Boost townhouse supply to fill housing’s ‘missing middle,’ report says (2018-10-12)

They are increasingly the starter home of choice for millennials priced out of the market for detached homes. Planners call townhouses one of the critical pieces in the Toronto region’s “missing middle” housing stock. But the province and municipalities have failed to encourage the supply of townhomes adequately by servicing the land to build them, argues the author of a new study from the Centre for Urban Research and Land Development (CUR) at Ryerson University.. Read More....




Real Estate Professional: Real estate industry urges Ford to deliver housing promises (2018-10-12)

Ontario’s premier needs to push ahead with the assistance promised to the province’s potential home buyers. The Ontario Real Estate Association (OREA), Ontario Home Builders Association (OHBA) and the Federation of Rental-Housing Providers of Ontario (FRPO) met this week to discuss housing policy and are calling on the Ford government to implement solutions to increase housing supply and assist first-time buyers. “Keeping the dream of home ownership alive in Ontario requires bold policies and action from the provincial government,” said Tim Hudak, Chief Executive Officer, OREA.. Read More....




REM Online: Mould is a serious health concern (2018-10-12)

People are exposed to mould spores daily in the air they breathe. However, sometimes mould can grow excessively in certain areas called “amplification sites” and can cause different types of illnesses. Some moulds are more hazardous than others and different people have different responses to mould exposure. Those with allergies, existing respiratory conditions or suppressed immune systems are especially susceptible to health problems from mould exposure. Researchers have identified that some fungi in indoor environments can induce allergic and irritant responses, infectious diseases, respiratory problems, hypersensitivity reactions and organ toxicity. Read More....




Mortgage Broker News: Industry calls on Premier Ford to take action (2018-10-11)

An assortment of heavy hitters assembled for the Housing Summit at the Toronto Region Board of Trade yesterday to remind Premier Doug Ford about how to fix the region’s housing supply issues. The Ontario Real Estate Association, in partnership with the Ontario Home Builders’ Association and the Federation of Rental-Housing Providers of Ontario, called on Ford to make homeownership more attainable for millennials. Former Progressive Conservative Party of Ontario leader and current OREA CEO Tim Hudak was front and centre in laying out a plan to fix everything from the supply chain issues to a reversing the prohibitive cost of housing for first-time buyers. “You have to speed up the approvals process,” Hudak told MortgageBrokerNews.ca. “It takes up to 10 years to get a new development done and every month of delay means increased costs to the consumer at the end of the day. We’ve also suggested that the provincial government make more investment in rail—more subways, more GOs, more LRTs.” Read More....




Financial Post: How blockchain and artificial intelligence will reshape real estate (2018-10-11)

Innovations in computing and information technologies are transforming businesses at an unprecedented pace. The real estate sector will not be spared, and that’s good news. Advances in artificial intelligence, analytics and blockchain will improve the real estate industry by achieving greater efficiencies and identifying and mitigating risks. While real estate will remain true to its traditional brick-and-mortar roots, the technological innovations will transform the way the sector operates. Read More....




REM Online: Marijuana and condos: You can’t smoke just anywhere (2018-10-11)

Oct. 17 is right around the corner. When that date arrives, it will usher in a profound change in Canada, because it marks the point that smoking cannabis will be legal. Under the federal Cannabis Act, Canadians will be legally permitted to buy, possess, use and share up to 30 grams of cannabis, and to grow up to four marijuana plants at home. But what condo owners and tenants may not realize is that the right to use cannabis is not unrestricted. The legalization of marijuana does not give people free rein to smoke just anywhere they like. Instead, condo owners and tenants can still be subject to non-smoking rules, which are designed to protect fellow owners and residents from being subjected to unwanted second-hand smoke of all types. Read More....




NewInHomes: 5 ways the province can improve housing affordability for millennials (2018-10-11)

Industry leaders are calling on the Ford government to take action to implement solutions to make it easier and more efficient to bring much-needed housing supply to market. The goal is to improve housing affordability specifically for millennials.  Members of the Ontario Real Estate Association (OREA), Ontario Home Builders Association (OHBA) and the Federation of Rental-Housing Providers of Ontario (FRPO) gathered at the second annual Housing Summit event to discuss potential solutions. OREA, OHBA, and FRPO members were joined by economists, academics, MPPS, other industry leaders, and senior government officials, including the Minister of Municipal Affairs and Housing, Steve Clark. “Keeping the dream of homeownership alive in Ontario requires bold policies and action from the provincial government,” says Tim Hudak, Chief Executive Officer, OREA. “First and foremost, to get more new homes in the marketplace, the building approvals process must be streamlined and zoning updated to allow for more homes in the right places. The best and fastest way to give Ontario’s first-time homebuyers a break is to eliminate the punishing land transfer tax for first-time buyers.” Read More....




Toronto Star: Toronto rent increases to slow in 2019 as more units come online: Urbanation (2018-10-11)

The average rent for a one-bedroom condo in the Toronto region has surpassed $2,000 for the first time, hitting $2,056 in the third quarter of the year, according to market research firm Urbanation. President Shaun Hildebrand said he expects rents to moderate going into 2019 as more apartments and condos become available. But in the short-term the demand from a growing population and consumers shut out of the home ownership market continue to outstrip the supply for rentals and push up the cost of leasing. “It isn’t a coincidence that rents and (home) prices tend to move in the same direction,” he said. While new purpose-built and condo rental supplies should slow the rate of rent growth, it won’t be enough to push down prices, Hildebrand said. Read More....




Digital Journal: Doug Ford: The Millennials’ Best Friend? (2018-10-10)

Promising to create more housing supply was the first step, now industry leaders are calling on the Ford Government to put into action the solutions that will bring much-needed supply into the marketplace and make housing affordable for Millennials. Today, leaders from housing-related associations – the Ontario Real Estate Association (OREA), Ontario Home Builders Association (OHBA) and the Federation of Rental-Housing Providers of Ontario (FRPO) – have gathered at the second annual Housing Summit event to examine bold policy prescriptions that will help Millennials get their hands on the keys to their first home. Read More....




Canadian Insider: Canadian Housing Starts Trend Decreases in September (2018-10-10)

The trend in housing starts was 207,768 units in September 2018, compared to 213,966 units in August 2018, according to Canada Mortgage and Housing Corporation (CMHC). This trend measure is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR) of housing starts. "The national trend in housing starts stood at a 19-month low in September, following declines in four of the last five months," said Bob Dugan, CMHC's chief economist. "The slowdown in the pace of new residential construction activity in recent months is a result of both lower single-detached and multi-starts activity and brings new residential construction closer to its long run average from the elevated levels registered in 2017." Read More....




Huffington Post: Canadian Home Construction Takes A Plunge In The Middle Of A Population Boom (2018-10-10)

Canada's housing market slowdown, which began with a drop in sales, is now spreading to home construction. Housing starts in Canada have fallen steeply in recent months as the country's developers react to a slowdown sales brought on by rising interest rates, tough new mortgage rules and historically poor levels of home affordability. But the timing is wrong: Population growth has accelerated, and we may now not be seeing enough construction to keep up with demand. The number of new housing starts fell to an annual rate of 188,700 in September, according to data released Tuesday by Canada Mortgage and Housing Corp. That's the lowest in nearly two years and a drop of 23 per cent since June, when the country clocked a rate of 245,000 housing starts, annualized. Read More....




Globe and Mail: Appraisers warn of the real-estate cost of homegrown cannabis (2018-10-10)

The national organization representing home appraisers is warning that growing cannabis at home will soon be legal, but it still comes with a risk. The new law legalizing cannabis includes allowing Canadians to grow a maximum of four plants in their homes. Keith Lancastle, chief executive of the Appraisal Institute of Canada (AIC), is calling on the federal government to help educate homeowners on what he calls the dangers of growing at home. In Ontario, the cannabis bill introduced by the Progressive Conservative government focused on privatizing cannabis retailers, but it left aside the issue of home growing. “Our point of view is, let’s hit the pause button on legalizing grow-at-home operations until we have some foundational elements in place,” said Tim Hudak, president of the Ontario Real Estate Association and a former leader of the Ontario PC Party. Under Mr. Hudak, OREA has been lobbying hard to urge different levels of government to slow down the expansion of home cultivation until things such as home-inspector retraining and municipal registries for illegal grow operations can be increased. Read More....




Real Estate Professional: Survey: This is the number 1 concern for real estate pros (2018-10-10)

Several challenges continue to concern real estate professionals but there is still optimism for the sector in the year ahead. A new report from PwC Canada and the Urban Land Institute shows that the industry’s concerns include tariffs and interest rates which could further weaken affordability. For those developers, investors, lenders and other leading experts involved in the residential real estate sector, land supply is the top concern heading into 2019. "Dealing with the affordability issue is a shared responsibility between government and developers. While government addressed demand by introducing measures like tighter mortgage rules and foreign taxes, they neglected the supply side," says Frank Magliocco, National Real Estate Leader, PwC Canada. "Reducing regulation and making more land available for development in a timely manner will help address the affordability issue.". Read More....https://www.repmag.ca/market-update/survey-this-is-the-number-1-concern-for-real-estate-pros-249121.aspx




REM Online: Opinion: The truth about TREB (2018-10-10)

The outcome of the Competition Bureau’s case against the Toronto Real Estate Board has attracted significant media attention.  The case, given its complexity, has been largely misunderstood. It’s important to note that TREB, though criticized for doing so, was justified in defending itself and seeking to clarify the law. At the outset of this case, the law was understood to apply only to dominant companies if they tried to exclude their competitors and raise prices. But TREB has no competitors and the courts found its conduct had no effect on prices or commissions. This caused the courts to note that the decision to rule against TREB was a “close call”. Read More....




REM Online: How demographic shifts are affecting the housing market (2018-10-09)

Brokers and agents should expect to see new developments in the housing market as the senior demographic continues to expand. With a higher percentage of boomers moving toward retirement, senior-friendly homes are reporting lower vacancies. This downsizing will cause repercussions in the industry. Better access to more reliable healthcare has allowed a greater number of people to survive into their old age, a trend also present in other countries around the world. Though it represents a positive shift in disease prevention and medical technology, it brings with it secondary and tertiary effects. Read More....




Toronto Star: Buying a house? The seller doesn’t have to tell you if it was a grow-op (2018-10-09)

With marijuana about to be legalized, I’m concerned about buying a former grow-op. Does the seller need to disclose this information? In most cases, probably not. But the disclosure of such information is a decision that a seller needs to make after consulting with their real estate salesperson and a real estate lawyer. To be clear, I assume you mean a property where many plants were grown because the new laws will permit the home cultivation of just a few plants. Read More....




Toronto Star: Renting needs the same social status as buying a home (2018-10-09)

We’re a house-mad city in a house-mad culture. It never fails to amaze me that the once modest downtown Toronto neighbourhood I live in today boasts homes worth, on average, well over $1 million, some cruising toward double that value. A recent report from the Royal Bank of Canada says house prices, after a tiny drop (don’t ever use the word plummet) are going to hold or even increase, much to the dismay of many who believe their only hope is for Toronto housing to lose some of its value. Read More....




Real Estate Professional: CIBC: Expect two rate rises in the next 3 months (2018-10-05)

Homeowners could be facing two interest rate rises in the coming months according to an updated forecast. CIBC Capital Markets said Thursday that it was already expecting a rate rise in October due to anticipation that a NAFTA deal would happen. The agreement of the next-gen trade deal USMCA supports the earlier forecast. However, economists are now calling for a further rate rise in January 2019, slightly earlier than it had been forecasting. That’s due to recent positive data points. The good news for homeowners with mortgages is that, following those two rate rises within three months, CIBC Capital Markets believes there will need to be a “prolonged pause” by the BoC due to the “elevated sensitivity of households” to the interest rate hikes. Read More....




Toronto.com: Ontario's expanded rent control is failing tenants (2018-10-05)

In the province of Ontario, we have a housing crisis on our hands.  We have tent cities popping up all over the place and people are finding it harder and harder to find a place that is affordable.  The solution is to help small landlords protect their investment and run more efficient operations.  The Kathleen Wynne government made things worse in 2017 by expanding rent control. This created a disincentive for companies to build more rental housing and many small-time landlords walked away from the business altogether. Housing is subject to the laws of supply and demand like any other good. Conventional wisdom would hold that if you want to understand what people want, the best thing to do is ask them. Kathleen Wynne asked, and the answer was "rent control." But people are rarely right about what they want. The result of her massive and sweeping action was higher rents across the province.  If you want more affordability, the solutions are simple.’. Read More....




Global News: Toronto Election 2018: Key campaign promises from John Tory and Jennifer Keesmaat (2018-10-05)

John Tory has promised to build 40,000 affordable rental units over 12 years. He has also campaigned to leverage city lands, including lands surrounding TTC stations and transit-accessible locations, for future housing units. He has promised to create an affordable housing secretariat to co-ordinate the city’s affordable housing initiatives. Jennifer Keesmaat has promised to build 100,000 affordable housing units in 10 years. She, like Tory, plans to leverage city-owned land to build affordable housing. She has also campaigned on using the federal National Housing Strategy funds to build new rental units and ensure that rents stay affordable. Keesmaat also proposes a rent-to-own home ownership program which will be paid for with a 0.4 per cent property surtax on luxury homes. Read More....




REM Online: BREAKING: Sold data coming to Realtor.ca (2018-10-04)

CREA’s Board of Directors has voted to add sold and historical data to the property listings on Realtor.ca without the need for a login. In a message to real estate boards across the country, CREA says the move comes “in order to meet consumer demand and at the request of Realtors and boards.” It says, “In addition to responding to requests from members, this will ensure we continue to offer leading edge services on the best real estate website in Canada.” Read More....




REM Online: OREA calls for stronger enforcement and discipline for rulebreakers (2018-10-04)

Being a Realtor is about so much more than just buying and selling homes. It’s about the people behind the transaction – the young buyers looking for a place to finally call their own and the empty-nesters selling the family home, a place where they created their fondest memories with family and friends. It’s no wonder that this financial transaction is filled with so much emotion and deliberation. Every day, consumers put their trust in knowledgeable and hardworking professionals whose job is to help Ontarians through the lifechanging experience of buying or selling a home. Nothing makes a Realtor happier than helping buyers and sellers navigate through the complexities of the transaction because the joy on their faces when they get the keys is worth every effort. But, nothing makes a hardworking, dedicated Realtor angrier than hearing about a colleague who has taken advantage of a client and broken their trust. They’re angry not just because unethical operators bring down the profession, but because they care deeply about the families they work for every day. Read More...




Toronto Star: Not practical to repeal land transfer tax, Toronto mayoral contenders say (2018-10-04)

Mayor John Tory and his rival in the Oct. 22 civic election Jennifer Keesmaat went to the Toronto Real Estate Board on Wednesday to tout their awareness and solutions to the city’s housing affordability crisis.  But in back to back speeches, neither gave the 400 realtors in attendance what they really wanted to hear, which was a promise to repeal the Toronto’s land transfer tax that adds about $15,000 onto an average Toronto home purchase. Last year, the tax contributed about $640 million to the city’s operating budget.  Realtors are especially opposed to the tax because they say it discourages consumers from moving. Tory, who vowed to keep property taxes at or below the rate of inflation, said he would love to talk about repealing the land transfer tax but it simply isn’t practical. Read More....




Financial Post: Toronto home prices steady as short supply offsets mortgage challenges (2018-10-04)

Toronto’s housing market continues to settle into a new normal as sales and prices changed little in September. Home sales climbed a seasonally adjusted 0.2 per cent from August to 6,455, 1.9 per cent more than a year ago, the Toronto Real Estate Board said Wednesday. The average home price fell 0.5 per cent from August to $796,786, 2.9 per cent higher that a year earlier. The benchmark price, which measures the value of a typical home, was up just 0.1 per cent on the month to $765,400. “While higher borrowing costs and tougher mortgage qualification rules have kept sales levels off the record pace set in 2016, many households remain positive about home ownership as a quality long-term investment,” the board’s president, Garry Bhaura, said in a statement. “As the Greater Toronto Area population continues to grow, the real challenge in the housing market will be supply rather than demand.” Read More....




Mortgage Broker News: Interest rate could hit 6% by 2020 (2018-10-04)

Interest rates could hit 6% by 2020, according to Moody’s Analytics. The prediction, using RPS data, is based on policymakers realizing plans to quell housing bubbles in Toronto and Vancouver, as well as on rising interest rates. “Two macroeconomic projects now dominate housing markets in Canada,” said Andres Carbacho-Burgos, a Moody’s economist. “The first is that the [Bank of Canada] will continue to tighten short-term interest rates through 2020 in order to head off inflation and also maintain the value of the Canadian dollar relative to its U.S. counterpart. “With some lag, monetary tightening will pull up mortgage rates. The five-year mortgage rate is now at about 4.4% after bottoming out at 3.6% in mid-2017; the Moody’s Analytics baseline projection is that it will continue to increase until it levels off at about 6% in late 2020.”. Read More....




REM Online: Everyone is confused about social media advertising (2018-10-04)

It’s amazing how many real estate people are totally confused about social media and online advertising.  Everybody is spending a ton of money and everyone is saying, “This isn’t really working for me.” David Greenspan offers some simple advice in this one-minute video.. Read More....




https://ca.style.yahoo.com/liberals-kill-ndp-housing-crisis-205000175.html (2018-10-04)

Though Prime Minister Justin Trudeau proudly stated a year ago that his government recognized "housing rights are human rights," his Liberal MPs voted to defeat an NDP motion stating exactly that. Back on a cold November day in Toronto last year, Trudeau said: "Everyone deserves a safe and affordable place to call home." But that wasn't the message delivered Tuesday when the Liberals — including two Toronto MPs, Adam Vaughan and Marco Mendicino, who stood behind Trudeau when he made that announcement last year — joined Conservatives to defeat a motion supported by the Bloc Québécois, Green Party Leader Elizabeth May and former Grit MP Hunter Tootoo. The motion called on the government to bring forward 50 per cent of the funding before the next election to help build homes in Indigenous communities, as well as new affordable housing, social housing and co-ops units, renovate existing housing, and bring forward a plan to end homelessness. Read More....




CP24: Poll: 94 per cent of GTA millennials concerned they won't be able to buy home (2018-10-03)

An overwhelming majority of millennials are concerned that they will not be able to afford a home in the Greater Toronto Area, according to a poll released Tuesday. The online Ipsos survey, which was conducted on behalf of the Building Industry and Land Development Association and the Toronto Real Estate Board, found that 94 per cent of respondents between the ages of 18 and 35 were concerned with the ability of today’s youth to afford a house in the GTA. About 84 per cent of respondents between the ages of 35 and 54 and 80 per cent of those 55 and over also said they were concerned. Read More....




Financial Post: Canada’s housing agency able to weather a household debt crisis — and volcanic eruption (2018-10-03)

Canada’s federal housing agency said on Tuesday it is well capitalized and able to weather severe but unlikely scenarios including a global trade war and repeated cyberattacks on Canadian financial institutions. The Canada Mortgage and Housing Corporation (CMHC), responsible for insuring the bulk of Canadian mortgages issued by banks and other big lenders, uses annual stress tests to gauge its resilience to extreme scenarios. It began publishing the results in 2015. The 2018 stress test confirmed CMHC’s mortgage loan insurance and securitization business had enough capital to withstand the impact of scenarios which also included a household debt crisis and the eruption of a volcano. Read More....




Real Estate Professional: Tech firm expands renting app to Canada (2018-10-03)

A technology firm hopes it has the answer to the needs of today’s landlords and renters with its blockchain-enabled platform. San Francisco-headquartered Rentberry says that its platform streamlines processes for the long-term rental market and has announced international expansion. It says that it expects rapid growth to be seen first in Canada, the UK, Australia, and New Zealand. The platform, which also includes mobile apps for iOS and Android, includes landlord verification, free tenant applications, and verified listings. Read More....




REM Online: April Canada launches Landlord Protection insurance (2018-10-03)

Insurance company April Canada recently launched Landlord Protection insurance covering unpaid rents and damage caused by tenants. It is now available in Quebec and Ontario. “Two of the biggest concerns for Canadian landlords are that the tenants do not pay their rents or that they find their rented property damaged at the end of the tenancy. These two risks are not addressed by the current insurance offering as historically, insurers have treated landlords like any other homeowners, which they are not,” says Charlotte Malaurie, national residential director for April. Read More....




Mortgage Broker News: CMHC provides banks and lenders assurances (2018-10-03)

The Canada Mortgage and Housing Corporation passed its own stress test, including interest rates rising to the neighbourhood of 7%. “We could withstand around 7% for a sustained period of time, which is a considerable increase over where rates are now,” Steve Mennil, CMHC’s chief risk officer, said of a posted mortgage rate hike. “With regard to interest rates, the changes in rates are showing in a material way. We do show, in some of the financial stress scenarios, an increase in interest rates. Of all interest rate increases under these scenarios, there seems to be a consensus that there will be some rising interest rates in the future, although we’re quite confident we can withstand fairly extreme increases in the interest rates.”. Read More....




Canadian Insider: Real Estate and Building Industry Poll Reveals Concern that GTA Millennials will be Unable to Afford a Home or Stay in their Communi (2018-10-02)

https://www.canadianinsider.com/real-estate-and-building-industry-poll-reveals-concern-that-gta-millennials-will-be-unable-to-afford-a-home-or-stay-in-their-communities-but-also-finds-some-optimismIn the final set of Greater Toronto Area (GTA) Municipal Election Ipsos poll data released by the Building Industry and Land Development Association (BILD) and the Toronto Real Estate Board (TREB), there is great concern among GTA millennials that they will be unable to afford a home in the GTA; however, there is some optimism from this group regarding their views on housing supply for new residents.  The concern about affordability is shared by GTA residents who also expressed a lack of confidence about the likelihood their children will be able to remain in the communities where they grew up. However, the results also reveal some optimism among millennials where housing supply for new residents is concerned. “According to a recent Centre for Urban Research and Land Development study, there are about 730,000 millennials living in the Greater Toronto and Hamilton Area (GTHA) who may be planning to move on from living in their parents’ homes and from sharing a dwelling with roommates in the next ten years, potentially creating 500,000 new households,” said Dave Wilkes, BILD President and CEO. 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