A Brief History of England
Danica Patrick To Make History at Daytona 500
Simona Halep Has the Biggest Round Assets In Tennis
Global Condo Craze, Is Your Country at Risk
Toronto To Los Angeles - Highrise Comparison
Toronto Condo Market Remains Steady into 2013
Frank Gehry discusses his Theatre District Project that will rise 80 storeys plus in the King West Entertainment District of Toronto. Although not everyone approves of the scale, size and design, the one thing that is know for sure, is that they will draw people to them. They are works of art that are sure to define Toronto for generations to come.
Here is the video by Global National:
review
Busy Condo Market Boosts Toronto Home Sales
With fewer homes in the detached category available in
Toronto, new home buyers seem to be opting for new condos, with sales heading
forward at a rocket pace last month. Sales of Existing Homes in the Toronto
area moved up by a whopping 2.1% in February 2014, and that is compared to the
same time period last year. That was mainly due to a 12.5% increase in the
sales of condos within the city so stated by the Toronto Real Estate Board.
That will contrasts with the sales declines that occurred in townhomes,
detached and semi-detached housing during the month, which was mainly due to a
constrained supply of those housing types.
The Canadian Home Mortage Corporation (CMHC) set to alter Mortgage
Insurance Rates
The federal agency which regulates mortgage insurance in
Canada is set to alter the rates which is charges new home buyers to insure
their mortgages against the risk of default.
These premiums which new homeowners must pay to get CMHC insurance may
also impact the ability of homebuyers to purchase their homes. The federal
government has been trying for quite some time to reign in the Toronto and
Vancouver Housing markets where the average cost of a single family detached
home has now reached over $1 million dollars.
RBC Financial Group Warns, that Rising Mortgage Rates will
Make Home Ownership Unaffordable for Most Canadians.
The Royal Bank of Canada is warning that the tide of rising
interest rates will make home ownership for most Canadians unaffordable. This
will be very true in Toronto and Vancouver where home prices have recently
climbed over $1 Million dollars for a single family detached home. Servicing of interest related to home
ownership such as mortgage rates, as well as mortgage insurance are set to
rise, or have been rising over the past year. The longer term interest rates are
moving at such a pace that the incomes of most Canadians will not be able to
keep up. The good news however is that
the rising interest rates foretell a
improving economy for most Canadians looking to improve their financial
situation
New Report States: Alberta to Lead Canadian Construction
Through the Next Decade
The Alberta Home Construction Industry is set to become the
new leader on the Canadian scene as states a new report from BuildForce Canada
2014-2023 Construction and Maintenance Looking Forward Forecast which sees the
pace of expansion in the western province expanding at an exponential rate. Home construction in Alberta has now passed
the 2008 peak and is set for further growth. Also on the Alberta front outside
of homebuilding, the Oil and Gas Sector looks set to power Alberta’s economy
into the next decade. The Alberta
Construction Industry has adapted well to conditions on the ground and looks
set for future growth.
Sotheby’s Agent Tells Tales of the Toronto Real Estate
Market
One agent, points out a 1500 square foot condo near the High
Park area, it is already asking for a price well over $1.5 million dollars.
This is the time we live in the agent states, as the supply of single family
detached homes slows, and the supply of condos increases, so too do the prices
which these properties command on the open market. Toronto is no different than
New York City in a sense, the agent bemuses. He tells tales of homes listed for
735,000 dollars going over 1 million dollars and above. These homes appeal to a certain demographic,
one that wants the convenience of downtown living, as well as having a detached
or semi detached home close to the core.
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