Real estate risk
Real estate risk Reasons to be cautious about investing in real estate.
Real estate = 80% of GDP / TO 3rd on UBS bubble list / immigration -83%
Vacancy rates in Canada’s tightest office markets are spiking, as employees continue to work from home and more businesses try to get rid of space amid the economic fallout from the novel coronavirus pandemic.
Toronto home prices are overvalued, making it the only North American city at high risk of being in a bubble, according to a new report on global real estate conditions by UBS.
The federal government allowed its small-business pandemic rent-relief program to expire at the end of September without providing details for its long-promised replacement, leaving thousands of entrepreneurs facing full rent payments as October begins.
Mr. Aquino, 48, was arrested last week after detectives investigated several complaints from current and former staff of Bondfield, which is based in Vaughan, north of Toronto.
The real estate market in Vancouver had its best September on record this year in terms of the number of homes sold.
After a decade of centre-left municipal governance, Vancouver’s 2018 election saw voters back a fractured city council. Seats were split among four parties, roughly divided between left and right, with the new mayor, a former NDP MP, running as an independent.
Almost every working Canadian eventually wants to buy a home. And most end up doing so, given the home ownership rate is more than 66 per cent. Take out young people who can’t yet muster the down payment and the lowest quartile of income earners, and the ownership rate rises to about 90 per cent. It might come as a surprise, then, that owning is not always better than renting. Even more counterintuitive, renting would have been the better option for anyone who retired in the past decade, in spite of the hot housing market.
As a result, they hit a new record high of just over $600k in August. Regionally, the rebound in prices has been broad-based, with positive annual price growth in every province in August, and 6 of 10 posting double-digit advances. The softest y/y gain occurred in Alberta although even here, prices were still up 5.3%.
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