OREA In the News

REM: Muskoka’s David Reid is new OREA president 

Muskoka-based real estate salesperson David Reid has assumed the role of president of the Ontario Real Estate Association (OREA). “Real estate is changing. OREA is committed to protecting the dream of home ownership for future generations and making sure our members are equipped for the modern real estate marketplace,” says Reid in a statement. 

 

Reuters: Canada's economy grows modestly in fourth quarter on back of housing gains 

Canada's economy grew modestly in the fourth quarter and well below the strong pace set in the first half of the year, boosted by housing gains ahead of tighter mortgage regulations but hurt by a smaller accumulation of inventories. The report from Statistics Canada on Friday was expected to keep the Bank of Canada in a holding pattern on interest rates at its policy meeting next week, though the central bank is still on track to raise borrowing costs later this year. 

 

Canadian Real Estate Magazine: End-users flooding condo market to detriment of renters 

The new mortgage rules have redirected Toronto’s would-be low-rise home buyers to the condo market, driving up prices and, in the process, deterring condo investors from purchasing units renters desperately rely on. The B-20 mortgage rule stipulating stringent stress testing, even for insured mortgages, has drastically reduced purchasing power, and house hunters have reasoned affording less house in the form of condos is better than nothing. 

 

Huffington Post: High Debt Loads Or Not, Canadians Are Rocking This Mortgage Thing 

House prices in many parts of Canada have been soaring for years. Mortgages are growing larger and the number of households with extreme levels of debt is multiplying rapidly. So you'd think that we would be seeing an increase in the number of households that are having a hard time paying off their mortgages. 

 

CBC: Toronto condo owner discovers unit listed on Airbnb behind her back — with more than 70 reviews 

When Sanda Jovasevic agreed to lease her downtown Toronto condo to a tenant in May 2016, she hoped it would be a wise, long-term investment for her retirement. But after a series of strange incidents the following year, including the unit's front door being left wide open, Jovasevic and her husband learned something was going on behind their back: Someone was repeatedly renting out the unit on Airbnb. 

 

Toronto Star: Court rejects elderly father’s bid to remove son from property title 

When a parent registers title to a home in joint names with a child, and the family relationship later breaks down, the results can be unhappy — and expensive — for all concerned. Back in September, 2011, William Stubbings purchased a condominium in Yorkton, Sask., in his own name. Two years later, at 87 years of age, he transferred title of the condominium into joint names with right of survivorship with his son, John. Stubbings received no payment for the transfer. 

 

BNN: ‘Don’t do it’: Four things to know before buying real estate with bitcoin 

Despite recent swings in cryptocurrencies, real estate listings asking for bitcoin instead of traditional currencies have popped up across North America in recent months. “It’s certainly becoming more popular,” Ryan DeLuca, professional standards advisor for the Real Estate Council of British Columbia, told BNN in an interview in January.    


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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