OREA In the News

Mortgage Broker News: RBC CEO to foreign buyers: Don't use "Canadian real estate as a "piggy bank" 

The chief executive of RBC hit out at foreign investors who use Canadian real estate as a “piggy bank” for their capital. Speaking at an investors’ conference in New York Tuesday, David McKay said that Canada didn’t need the kind of foreign investment where an asset sits empty doing nothing productive. 

 

NextHome YP: Survey shows buyers may postpone home purchase plans 

Prospective homebuyers are entering 2018 confident and eager to purchase, but rising interest rates and home prices could postpone those home purchase plans, according to a new survey by Canada Mortgage and Housing Corp. (CMHC). The first-ever 2018 Prospective Home Buyers Survey compares the intentions, attitudes and awareness of housing expectations, readiness to buy, affordability and impact of changes to the housing industry among three segments of people: First-time buyers, previous owners and current owners. 

 

NextHome YP: Three key drivers motivate Canadian homebuyers 

No longer paying rent is top-of-mind when buying a house for Canadians surveyed in a newly released 2018 Prospective Home Buyer Survey by Canada Mortgage and Housing Corp. (CMHC). The three groups surveyed — first-time buyers, previous owners and current owners — say the main reason for buying a house is to stop paying someone else rent (65 per cent for first-time buyers and 60 per cent for previous owners). The other two top homebuying motivators across all groups were to improve accessibility (physical obstacles and barriers) and to pursue an investment opportunity. Changes to mortgage regulations and possible future interest rate increases were not among the top motivators for participants in the October 2017 online survey of 1,501 first-time buyers, 506 current owners and 500 previous owners. 

 

CBC: Upcoming home-sharing regulations only go 'halfway,' says landlord who uncovered Airbnb operation 

When Robert Johnston started renting out his wife's childhood home, he did his due diligence by checking potential tenants' references, credit reports, and even bringing in a property management company to help vet the candidates. In September 2017, he found an ideal tenant. Six months later, he now feels lied to. 

 

Reuters: Toronto home sales slump in February but prices stabilize 

Toronto home sales slumped in February from a year ago as the market continued to be dampened by tighter mortgage rules and higher borrowing costs, though demand for condominiums helped prices stabilize, data showed on Tuesday. Economists and realtors have been expecting home sales in Canada's biggest city to be weak at the start of the year, especially compared with the record sales recorded in the early months of 2017.


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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