Year-over-year sales of houses in York Region have outpaced Toronto. With the market still hot, bidding wars have become the norm rather than the exception. This hold true to rentals, as an attractive unit can fetch dozens of applicants. YorkRegion.com has a two-part series on housing in 2021. To read more, click here.
With the election campaigning in full swing, the NDP has indicated that part of the platform will include a tenant assistance pledge. The concept would include $5000.00/year for tenants to help pay for their rent. The NDP's full platform did not answer questions about this payment, other than they intend to support the "core housing need". To read more, click here.
Has housing prices become a crisis in Toronto? It is frustrating to make a good income and be unable to purchase a house as prices rise. The market remains tight, however a big majority of people are left out of the race. BNN has published an article on the housing market, asking whether Toronto specifically has reached a "crisis point". To read more, click here.
Inflation is at a decade-long high rate (3.7% for July 2021). The Bank of Canada believes that elevated consumer prices are temporary and that "everything is under control". Inflation usually means higher mortgage rates. We will have to see how this pandemic plays out before being certain that we do in fact have everything under control. To read more, click here.