Mindblown: a blog about philosophy.
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More homes, more buyers, more sales as real estate market strong in Oakville, Burlington, Milton
A drop in interest rates has led to a more active real estate market in Oakville, Burlington, Milton, and Halton Hills. Following a 25 basis point cut by the Bank of Canada, new listings surged, giving buyers more options and negotiating power. Total home sales in the GTA reached 4,996, an 8.5% increase from last…
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21% of GTA Condos Priced Under $550K in H1 2024
In Toronto, the median condo price has surpassed $600K, making affordability a challenge. Despite this, three Toronto neighbourhoods offer condos under $550K as of early 2024.
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Enhancing mortgage brokering practices and consumer outcomes
Ontario's financial services regulator, FSRA, is implementing measures to promote fair outcomes for individuals obtaining or investing in mortgages. Continue to full article
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Investors and Upgraders Drive 40% of GTA
Investors and upgraders/downgraders drive detached home-buying in 40% of GTA, 80% of Fraser Valley. Toronto's detached home market led sales growth, with 34% of neighbourhoods showing stability or growth.
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September Sees Slight Increase In GTA Home Sales
Signs of improvement in the GTA housing market were noted in September, with sales reaching 4,996, a slight increase from August but down from July. This marks an 8.5% rise compared to September 2023, attributed to more affordable conditions from interest rate cuts. Detached homes saw a 10.5% year-over-year increase in sales, while condos remained…
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Condo Renovation Do’s and Don’ts
Develop a detailed plan, including budget and design goals, before starting your condo renovation. Allocate a budget that accounts for unexpected costs and allows flexibility throughout the renovation.
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Average home price in August dips slightly in GTA
Greater Toronto Area home sales decreased by 5.3% in August 2024, with 4,975 transactions, while new listings rose by 1.5% to 12,547. The average home price fell by 4.6%, with the average selling price at $1,074,425. Experts predict an increase in first-time buyers as mortgage rates decline, but inventory may dwindle, necessitating a focus on…
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GTA Condo Oversupply to Dampen Home Price Growth
Toronto’s condo oversupply will continue affecting home prices, keeping growth below average. GTA home sales remain weak but are expected to improve gradually, including in the condo market.
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GTA Housing Costs: 25% Government Fees Impact
Land costs account for up to 25% of a new home’s cost, influenced by limited urban expansion. 72% of people support expanding municipal boundaries, while 69% favour higher-density development.
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Will Ottawa’s new mortgage rules help you buy a home in the GTA?
Changes to Canadian mortgage rules will soon allow potential homebuyers to purchase homes priced between $1 million and $1.5 million without needing a 20% downpayment. Previously, mortgage insurance was required for downpayments under 20% only for homes priced at $1 million or less. Additionally, all first-time homebuyers can now access 30-year mortgage amortizations. These changes,…
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