Author: homegoal.ca
While a market downturn definitely creates problems for developers of projects that are in the planning stages, the simplest solution can be to pause the project. For developers of projects that have already been designed and approved, however, a market downturn creates a different set of issues altogether — and there may not be one clear solution.The current market downturn can generally be attributed to buyers remaining on the sidelines amid economic uncertainty, in both the residential resale and presale markets. As such, it has become difficult for developers to secure the number of presales they need in order to…
Canadian real estate is the most affordable it’s been in three years—but that isn’t saying much. RBC data shows ownership costs have eased, though it forecasts improvements stalling soon and affordability worsening next year. Even with affordability at its best, it would only be a slight improvement over the peak of the 1990s real estate bubble—the last one to fully burst. RBC’s Housing Affordability Index Today we’re looking at RBC’s housing affordability index, which uses the share of income a median household needs to carry ownership costs for a benchmark (typical) home. Ownership costs are the monthly mortgage payments to…
Each month, REM shares brokerage expansions and conversions, leadership appointments and other key industry moves. Have an announcement to share? Email your news to editor@realestatemagazine.ca by the 26th of each month, and don’t forget to include a photo! Leadership appointments Parm Sidhu joins Re/Max Elite as broker of record Re/Max Elite has appointed Parm Sidhu as its new broker of record and operations manager. With 18 years of experience in Alberta real estate, Sidhu will manage operations across all three Re/Max Elite offices in Edmonton, offering strategic direction and agent support. Previously, Sidhu helped grow Alberta’s largest non-franchise…
In Metro Vancouver’s fast-paced housing landscape, it’s not often you see a developer take a step back, reflect, and re-engage from a place of deep commitment.That’s what Oviedo Properties is doing with BridgeCity, its large-scale Surrey community that has seen interest from buyers, agents, and the community at large.Located just north of King George Blvd, overlooking Bolivar Creek, the masterplan entered the market last year, joining Oviedo’s long list of projects, ranging from high-density towers to purpose-built rentals and mixed-use hubs. Developments like Altus and White Birch have helped define new pockets of growth in White Rock — and BridgeCity…
As housing affordability deteriorates across Canada, Alberta is standing out for all the right reasons. While Ontario and British Columbia face steep affordability gaps and construction targets, Alberta’s path to restoring balance is more achievable, though not without its own set of challenges. Current CMHC’s Construction Targets According to the Canada Mortgage and Housing Corporation (CMHC)’s latest report, Canada must significantly increase the pace of home construction to return to the affordability levels of the early 2000s by 2035. This means scaling annual housing starts from roughly 250,000 units to between 430,000 and 480,000. The challenge isn’t equally distributed: Ontario…
Realtor Krista Bradley prides herself on helping people settle into a simpler life outside the bustle of Toronto, but navigating rapidly changing market conditions over the last five years in Collingwood and The Blue Mountains has been anything but simple. The Century 21 agent said her local market is coming back to earth after a whirlwind few years, which started with a “huge boom” during COVID-19 as city dwellers exited in droves, seeking an escape a couple of hours outside of the city. That lasted until 2022, when interest rates began climbing from historic lows. “And then there was the…
It looks like Toronto is in for a picture perfect Canada Day.Bringing a mix of sun and cloud, with warm temperatures to smooth it all over, Tuesday should deliver great weather for a fun-filled Canada Day. Temperatures will remain in the mid-to-high 20s all weekend, as a matter of fact, with rain only expected on Monday. But, with no rain in the forecast for Tuesday, firework shows and festivities should go off without a hitch. That being said, as a national statutory holiday, many stores, businesses, and services will be closed on Canada Day. To help you plan your festivities,…
The City of Toronto has you covered for some high-in-the-sky fanfare this Canada Day, which falls on Tuesday, July 1, 2025. There will be a total of seven displays at various locations across the city this year, but the main character of the bunch will be a 14-minute show at Ashbridges Bay Park at 1561 Lake Shore Boulevard East, starting at 10 pm.In consideration of the show at Ashbridges Bay Park, the TTC will increase subway service on Lines 1 and 2 and streetcar service on the 509 and 510 on Tuesday. There will additionally be extra bus service on…
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canada’s Economy Contracted Modestly. Can It Avoid Recession? The Canadian economy kicked off spring with an unexpected contraction, as monthly GDP fell 0.1% in April—below the market consensus for growth. An upward revision to the previous month’s data left output roughly in line with expectations. The mixed signals have experts split on whether Canada is heading for a recession, or if the slowdown is just enough to help it avoid that fate. Continue Reading… Canada’s Inflow of Millionaires Falls 70%, No Longer In The “Safe 8” Canada’s…
Renters’ insurance might not be required by law, but it’s one of the best investments you can make to protect yourself and your belongings. If you’re a first-time renter, you might be wondering: Do I need renters’ insurance? The answer is yes, especially if you care about your laptop, furniture, or even just having a place to stay if disaster strikes. For as little as $8 a month, renters’ insurance offers protection that can save you thousands. Here is a breakdown on what renters’ insurance covers, what it doesn’t, and why it’s a must-have before you sign that lease. What…