OREA In the News

PostCity: Can crime and unlucky address numbers impact the selling price of your home? 

As if navigating the GTA real estate market isn’t hard enough, throw in superstition and stigma and rules about disclosure and it can make a potential homebuyer’s head spin. The prices of homes are supposed to rise and fall according to supply, demand and interest rates. The fundamentals of the market have remained the same for the most part. Price fluctuations relate to location, size and condition...Although there is no law about disclosing past murders or suicides and no public database to find such information, Ettore Cardarelli, president of the Ontario Real Estate Association (OREA), said there is a code of conduct that realtors follow.  “When it comes to homes with a stigma, realtors must follow a code of ethics, therefore providing all the necessary information to homebuyers,” he said. But it is up to the realtor representing the buyer to ask the right questions.  

  

Mortgage Broker News: BIS warns of Canadian debt levels 

According to a recent report from the Bank for International Settlements, Canada has one of the world’s three most imperilled banking systems. Canadian household debt is through the proverbial roof, and understandably, the BIS’s warning might invoke unpleasant memories of the financial crisis a decade ago. It’s for that reason, then, that one Toronto mortgage broker believes recent government intervention in the housing market might not be such a terrible thing. 

 

Mortgage Broker News: RBC's open banking initiative to improve mortgage transactions 

Royal Bank of Canada is opening up select bits of its data to external software developers in a bid to foster innovation and create new tools for consumers. The bank said earlier this week that it will allow eligible external developers and clients to access some RBC banking data to build and test banking-related applications. 

 

Kemptville Advance: MPP Steve Clark supports Habitat for Humanity’s plan to expand home ownership 

Leeds-Grenville MPP Steve Clark has asked the Ontario Minister of Housing if he will support a proposal by Habitat for Humanity Ontario to make the dream of home ownership a reality for more families. 

Clark tabled an Order Paper question on the issue this week following a meeting with members of Habitat for Humanity Thousand Islands, who have overseen the construction of more than 14 homes in the region. 

 

Globe and Mail: High household debt is a threat to the economy - less so banks 

Senior vice-president and chief economist of the Conference Board of Canada recent report from the Bank for International SetA tlements (BIS) triggered headlines that Canada is among the top three countries in the world at risk of a banking crisis. Such a statement conjures up memories of the 2008-09 financial crisis, making it very ominous. But how does one reconcile the BIS assessment with the finding of the World Economic Forum that, for the past nine years, Canada has had one of the soundest banking systems in the world?


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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