Real Estate News, Articles, Reports, Analysys & Trends

4/1/2020 | Posted in Canada Living by Paul Solomons
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How to stay safe if venturing outdoors for essential reasons during COVID-19.

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Staying Safe during COVID-19

3/25/2020 | Posted in Ontario News by Paul Solomons
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The Ontario government has confirmed that it will temporarily not issue any new eviction orders and will halt the enforcement of evictions during the COVID-19 outbreak.

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Ontario freezes evictions, temporarily halts scheduled orders due to COVID-19

3/31/2020 | Posted in Mortgage Interest Rates by Paul Solomons
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Canada’s mortgage rates are creeping up even though the country’s central bank has slashed borrowing costs to combat the COVID-19 pandemic.

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Mortgage rates are rising in Canada despite virus-relief cuts

3/28/2020 | Posted in Canadian Economy and Housing Market by Paul Solomons
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Canada’s largest banks are fielding a deluge of requests to defer payments on mortgages as businesses suffer from efforts to curb the spread of the new coronavirus and ... More

Canada's big banks field more than 200,000 mortgage deferral requests

3/27/2020 | Posted in Canadian Economy and Interest Rates by Paul Solomons
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The Bank of Canada is cutting its key interest target by half a percentage point to 0.25 per cent in an unscheduled rate announcement.

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Bank of Canada: Key interest rate cut to lowest level

3/27/2020 | Posted in Financial Health by Paul Solomons
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The coronavirus outbreak is leading to defaults on credit cards, utilities, and telecoms.

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Millions of Canadians already missing payments due to COVID-19

3/27/2020 | Posted in Home Owners by Paul Solomons
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It's very likely that COVID-19 will shatter Ontario's municipalities' budgets, and without provincial or federal help they will have no option but to increase the ... More

Cities worry COVID-19 could shatter their budgets

3/26/2020 | Posted in Mortgages and Real Estate by Paul Solomons
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Canada beefs up liquidity plan with expanded mortgage guarantee

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CMHC expands Insured Mortgage Purchase Program

3/25/2020 | Posted in Ontario News by Paul Solomons
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All “non-essential” workplaces in Ontario have been ordered closed effective 11:59 p.m. Tuesday for 14 days as the battle against COVID-19 reaches a critical ... More

Ontario ordering non-essential businesses to close

3/24/2020 | Posted in New Developments by Paul Solomons
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Building construction investment in Canada edged higher in January with a 0.5% rise compared to the previous month.

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Investment in residential construction was flat in January

3/24/2020 | Posted in Rental Market by Paul Solomons
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The COVID-19 coronavirus outbreak is highlighting the fragility of millions of Canadian households, which face a stark choice between paying their bills or putting food on the ... More

1.6 million self-employed renters are about to run out of money

3/21/2020 | Posted in Canadian Housing Market by Paul Solomons
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Realtors across Canada are kicking off the busy spring selling season with the unprecedented step of cancelling open houses, moves that could contribute to slower-than-forecast ... More

Canada set for muted spring home-selling season as coronavirus saps sentiment

3/20/2020 | Posted in GTA News by Paul Solomons
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At the March 19 Special Emergency Council meeting, Mississauga City Council made decisions in response to COVID-19 to help mitigate impacts on residents and businesses.

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Mississauga: Property Tax Due Dates Deferred 90 Days

3/20/2020 | Posted in Toronto News by Paul Solomons
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The City of Toronto is waiving all penalties on late property tax and other bill payments for the next two months in response to the unprecedented economic impact of the ... More

Toronto announces 60-day grace period for tax, utility bill payments

3/19/2020 | Posted in Community by Paul Solomons
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Happy First Day of Spring Everyone!

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Hello Spring

3/19/2020 | Posted in Canadian Economy and Housing Market by Paul Solomons
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A measure of Canada’s consumer confidence has reported its biggest drop ever amid the COVID-19 pandemic.

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Canadian consumer confidence takes unprecedented slump

3/18/2020 | Posted in Canada Living by Paul Solomons
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The Government of Canada is taking immediate, significant and decisive action to help Canadians facing hardship as a result of the COVID-19 outbreak.

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Canada's COVID-19 Economic Response Plan: Support for Canadians and Businesses

3/18/2020 | Posted in Mortgage News by Paul Solomons
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Canada’s largest banks are coordinating their approach to the COVID-19 coronavirus outbreak to protect their employees and customers.

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Big Six banks to allow 6-month mortgage payment deferral

3/17/2020 | Posted in Canadian Housing Market by Paul Solomons
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RBC senior economist Robert Hogue gives his latest housing market assessment

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Is coronavirus about to prompt a house price crash?

3/17/2020 | Posted in Canadian Economy and Housing Market by Paul Solomons
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The Canadian government has announced a further measure to mitigate the impact of the COVID-19 crisis and to help maintain stability in the financial system.

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Government announces new mortgage buying program

3/17/2020 | Posted in Canadian Economy and Interest Rates by Paul Solomons
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The Big Six banks are slashing their prime lending rates 50 basis points to 2.95 per cent from 3.45 per cent in response to the plunge in the benchmark Bank of Canada interest ... More

Big Six banks slash prime rates by half a point

3/16/2020 | Posted in Canada Living by Paul Solomons
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Prime Minister Justin Trudeau has announced the federal government will close its borders to most people who are not Canadian citizens or permanent residents as part of its ... More

Canada to close borders to most foreign nationals, except Americans

3/16/2020 | Posted in Canadian Housing Market by Paul Solomons
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Statistics released today by the Canadian Real Estate Association (CREA) show national home sales were up between January and February 2020.

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Canadian home sales up in February

3/14/2020 | Posted in Ontario Real Estate by Paul Solomons
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Condo developers in Ontario looking to sell units to millennials and first-time home buyers could be barking up the wrong tree, according to a new survey from OREA.

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Ontario's first-time buyers prefer detached homes and townhouses over condos

3/13/2020 | Posted in Canadian Economy and Interest Rates by Paul Solomons
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The Bank of Canada cut its trend-setting interest rate by half a percentage point to 0.75 per cent from 1.25 per cent in a surprise move on Friday aimed at softening the ... More

Bank of Canada slashes policy rate to 0.75 per cent in surprise cut

3/9/2020 | Posted in Canadian Housing Market by Paul Solomons
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The trend in housing starts was 208,525 units in February 2020, compared to 211,153 units in January 2020, according to Canada Mortgage and Housing Corporation (CMHC).

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Canadian housing starts declined in February

3/6/2020 | Posted in Toronto Real Estate by Paul Solomons
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Toronto House Prices Jump By $130,000 In A Year As Industry Calls For 'Shovels In The Ground'. And now the Bank of Canada is putting "kerosene on the fire" ... More

Toronto House Prices Jump By $130,000 In A Year

3/5/2020 | Posted in Mortgages and Real Estate by Paul Solomons
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Remember the Bank of Canada’s anxiety over worrisome consumer debt loads and housing imbalances? So much for that.

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What the Bank of Canada rate cut means for mortgages

3/4/2020 | Posted in Mortgage Interest Rates by Paul Solomons
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The Bank of Canada today lowered its target for the overnight rate by 50 basis points to 1 ¼ percent. The Bank Rate is correspondingly 1 ½ percent and the deposit ... More

Bank of Canada lowers overnight rate target to 1.25 percent
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