Rental Transactions and Rental Rates both increase
Both leased transactions through the TorontoMLS system and monthly rents achieved in these transactions climbed in the second four-month period of 2008. Total units rented came to 4,297 (apartments and townhouses), up 12 per cent over the same timeframe in 2007. Meanwhile, benchmark two-bedroom apartments rented for $1,885 per […]

Bank of Canada warns of ‘mild recession’
In a surprise move today, the Bank of Canada sliced interest rates by only one-quarter of a percentage point to 2.25 per cent “” a milder cut than what many investors were expecting. In a statement, the central bank said major interrelated developments are having a “profound impact” on […]

Toronto’s new land transfer tax isn’t quite the solution to the city’s budget crisis it was touted to be when Mayor David Miller finally pushed the controversial measure past city council last fall. The city had projected it would collect about $155 million in 2008, already considerably less than the $300 million per year mentioned […]

Toronto Real Estate Board: Changing GTA resale housing market reflects economic times.
Activity in the Greater Toronto Area resale housing market moderated considerably during the first half of October with 2,700 homes changing hands, Toronto Real Estate Board President Maureen O’Neill announced today.
Sales volumes in the GTA decreased 18 per cent compared to the first half […]

Fewer Canadian homes were sold in the third quarter but the number put on the market also dropped ““ a sign that a slide in housing prices is beginning to slow, says the Canadian Real Estate Association.
New listings of homes for sale on the Multiple Listing Service in major Canadian markets edged lower in the […]

All the money lost in the stock market and the housing crash never really existed, economist says
Trillions in stock market value ““ gone. Trillions in retirement savings ““ gone. A chunk of the money you paid for your house, the money you’re saving for college, the money your boss needs to make payroll ““ gone, […]

New housing prices continued to cool in August, posting no increase from July and leaving them just 2.3 per cent higher than a year earlier, down from 2.7 per cent a month earlier, Statistics Canada reported Friday.
Regionally, prices rose at the fastest pace in St. John’s, N.L., with an annual price increase of 23.7 per […]

A quick look at real estate markets across Canada:
Vancouver
The number of residential properties sold in Greater Vancouver dropped 42.9 per cent in September 2008 to 1,585 compared to the same month last year, while new listings rose 29 per cent to 6,142.
Home prices also declined 1.6 per cent in September to $726,331 compared to the […]

Canadian housing prices could fall by up to another to 10 per cent before they hit bottom as the market faces a correction, says Scotia Capital Economist Derek Holt. "We will go through a correction, and the balance of risks are to the downside rather than the upside,"  Holt  says.
"Housing is past the peak […]

With a slowing economy and a tanking stock market, everyone’s looking for a little security — in real estate?
Toronto Life magazine has identified some if the city’s most crash-resistant neighbourhoods. The most important consideration in buying crash-proof real estate, they say, is the overall vitality of a neighbourhood. Look for areas with thriving local businesses […]