| | | | | | | | Welcome to our newsletter, The Friday Finale! A simple, quick snapshot of information for you! Below are recent highlights of news over the past two weeks. | | | | | | | Canda Invests $444m With Company That Millennials Don't Want A Home |
Canada keeps repeating it’s spending billions on new housing, but with who, and how does it help? Earlier this week, Deputy Prime Minister Chrystia Freeland announced $1.2 billion worth of investments to build rentals in Toronto. It turns out over a third of those funds are going into one project—373 Front St East, which are rentals planned years ago. Toronto-based Tricon Capital is one of the owners of the 855 unit project. They are best-known for buying and owning tens of thousands of single-family homes in a short time. | | Housing Market has Gone into 'Hibernation' CREA Says, with Lower Sales, Listings and Flat Prices | Canada's housing market has gone into winter hibernation early this year, the group that represents realtors said Wednesday, with new data for October showing fewer sales, fewer new listings, and selling prices mostly flat. The Canadian Real Estate Association said Wednesday that the number of homes that sold on the group's Multiple Listing Service fell by 5.6 per cent in October from the previous month's level. | | | | New 'Canada Mortgage Charter' Among Housing Measures in Fall Economic Statement | The Trudeau government moved Tuesday to provide help to homeowners hit hard by high housing costs with measures intended to make it easier to pay rents and mortgages. The government is also taking steps to increase the supply of homes in Canada. It's moving to discourage property owners from turning apartments and condos into short-term rentals for tourists, removing the GST from construction of eligible new co-op rental housing, working with municipalities to reduce hurdles for new builds and making the construction of affordable housing more attractive for developers. | | Canada's Inflation Rate Cools to 3.1% But the Cost of Living Keeps Going Up |
Canada's consumer price index rose by 3.1 per cent in the year up to October, down from 3.8 per cent the previous month but in line with what economists were expecting.
Statistics Canada reported Tuesday that the biggest reason for the deceleration in the cost of living was a drop in the cost of gasoline, which declined by 6.4 per cent during the month of October alone, and is down by 7.8 per cent compared to where prices were a year ago. | | | | The Green Effect Podcast!
| Finance, life, business and everything in between! Brand new content with just myself gabbing away about the real estate world, personal stuff going on in my life, stories as an investor, and whatever else! Come with me on the journey inside my head. | | BLOG POST: Green Thoughts | Most Recent Blog:Unlocking the Mysteries: Pre-Qualification vs. Pre-Approval in Canadian Mortgages
Navigating the Canadian real estate market can be an exciting yet complex journey, especially when it comes to securing financing. Two terms you'll often encounter in this process are "pre-qualification" and "pre-approval." While they sound similar, they serve distinct purposes in the mortgage journey. Let's delve into the differences and understand why each is crucial in your home-buying adventure.
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