Brief, Mild Correction Forecast for Canada’s Housing Market in First Half of 2013

The Royal LePage House Price Survey and Market Survey Forecast released today showed the average price of a home in Canada increased year-over-year between 2.0 and 4.0 per cent in the fourth quarter of 2012. Compared to 2012, fewer homes are expected to trade hands in the first half of 2013, which should slow the […]

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Why the housing market won’t crash in 2013

The 12-month change in the Teranet-National Bank House Price Index has decelerated in recent months to 3.4 per cent, led by declines in Vancouver (-1.4 per cent) and Victoria (-1.7 per cent). Some people interpret this weakness as a sign that a housing crash has started – see, for example, the Canadian Business article “Canada’s […]

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Developers of Toronto’s Trump Hotel to seek $750,000 in damages from disgruntled buyers

Developers of Toronto’s Trump International Hotel and Tower have served notice they plan to sue buyers trying to flee the ill-fated hotel-condo project. In a statement of defence and counterclaim filed with lawyers for the buyers, but which may not yet be filed with the courts, Talon said it’s seeking $750,000 in damages from disgruntled […]

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Downtown Toronto condo building set to include affordable rental units

An expensive condo building slated to start going up a year from now near the Air Canada Centre downtown will include a rare feature — some affordable rental units. Ten York, a 62-storey tower with a four-storey podium set for completion near late 2016, is to have 694 condo units, 12 of which will be […]

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Condos take the biggest hit as home sales drop in the GTA

Home sales continue to slide and prices soften, especially in the 416 region, according to the Toronto Real Estate Board, which recorded a 16 per cent decline in sales compared with November, 2011. Condos took the biggest hit with resale transactions down 25.5 per cent across the GTA and prices down an average of 2.3 […]

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