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Gen Y more concerned about housing affordability than their parents were
That somewhat hard-to-define, multi-named demographic known as Generation Y (or the Millennial Generation) is the subject of a lot of interest among economists, and particularly among the banking...
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US debt default would be bad, but how bad?
There has been speculation as well as some fear-mongering concerning the possible effects that a government default on the national debt would have on the US real estate market. The head of the...
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Putting a $ value on city trees
Leave it to a bank to figure out the monetary value of a tree. Of course, when your corporate colour is green, as TD Bank’s is, there is an image to live up to. In fact, the bank, through its Greening...
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Public opinion often frighteningly wrong, occasionally right
It’s very common for people to be “misinformed” about numbers. If you were to ask random people on the street, “What is the unemployment rate in this country?” or “What percentage of eligible voters...
View ArticleBanks say no rate cuts coming, but do they mean it?
Canada’s banks don’t change their prime lending rate often. The current prime rate of 3 per cent has been in place for more than four years. Now that the country’s central bank has surprised everyone...
View ArticleMortgage rates are low, but watch for those penalties
When Bank of Montreal cut its five-year fixed-rate mortgage to a record low 2.79 per cent this week, it was merely following long-established tradition in preparing for the spring real estate surge....
View ArticleBalance between densification, affordability needed in Toronto’s housing market
To get a sense of how acute Toronto’s housing supply problem has become, just look at the prices being paid these days for homes in the east end, north of the Danforth and east of the Don River. The...
View ArticleWine coming to Ontario supermarkets but public service union not happy about it
Anyone of legal drinking age who has visited the United States (or Europe) has probably noticed that you can buy beer and wine and liquor in the grocery stores there. It seems as normal to pick up a...
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Millennials rate Canada best country in the world
If it is true that worldwide perceptions impact national economies, then Canada has got it made. The country continues to make a very favourable impression on outsiders, especially millennials. In...
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Home ownership rate plunges in US, millennials blamed for not buying
The home ownership rate in the United States has dropped to its lowest since 1965. CNBC reports that just 62.9 per cent of Americans owned their homes in the second quarter of 2016, the lowest rate in...
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Now that Toronto is hottest market in Canada, is it time to sell?
It’s a race we’d probably rather not have won, but Toronto has been declared Canada’s hottest housing market. There was only one other runner, of course, Vancouver. According to TD Bank economist Diana...
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Luxury home sales surging in Toronto, but are they foreign buyers?
Since early August, when Vancouver imposed a 15 per cent tax on foreign buyers of residential real estate, there has been a lot of speculation about where those foreign buyers would go, assuming they...
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Designers, builders show their best stuff at Buildings Show this week in Toronto
If it’s late November in Toronto, it must be time for The Buildings Show, billed as North America’s largest networking and educational event for the design, construction and real estate industries. The...
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Boomerang kids taking toll on parents’ retirement plans
If you are in your twenties or thirties, there is a good chance that you live with your parents. There could be many reasons for this, but the most common one is economic. All over the developed world,...
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