Mindblown: a blog about philosophy.
-
Why Won’t Lower Rates Fix GTA’s Housing Crisis?
First-half 2024 saw low sales due to high interest rates and construction costs, with no expected rebound. Record-low sales will lead to fewer housing starts, worsening future housing supply in the region.
-
Why You Need a Real Estate Lawyer in Toronto for Your Next Property Purchase
Buying property in Toronto involves excitement but also significant paperwork and potential hurdles. A real estate lawyer is essential for navigating complex contracts, protecting against hidden liabilities, and ensuring smooth negotiations and closing processes. They are familiar with Toronto's unique regulations, helping buyers avoid costly mistakes and providing peace of mind. Ultimately, hiring a lawyer…
-
Fewer Applications: GTA Housing Supply at Risk
The construction of new homes is falling behind population growth, worsening housing affordability in the GTA.Development applications dropped significantly, threatening the housing supply.
-
GTA Housing Stock Gap Hits 50-Year High
The GTA population reached 5.9M, significantly higher than in 1972 when data collection began. Average municipal fees rose by $42,000 for low-rises and $32,000 for high-rises since 2022.
-
GTA New Home Sales Hit Historical Low in Mid-Q3
New home sales in the GTA hit a historical low of 464 transactions in August 2024. August sales ↓ 46% compared to August 2023, and ↓ 73% below the 10-year avg.
-
GTA Mortgage Woes: Delinquency Rates Surge 42%!
Canada’s largest mortgage lender faces rising delinquencies in the Greater Toronto Area mortgage portfolio. Serious delinquency rates surged to 0.27% in Q3 2024, a 42% increase from the previous quarter.
-
Toronto is fast becoming Canada’s Manhattan
Toronto has emerged as a vibrant city comparable to Manhattan, especially in the last decade. Unlike many U.S. cities that become deserted after office hours, Toronto's streets remain lively at night. Its population rivals that of Montreal and Vancouver combined, with a significant number of construction cranes indicating rapid growth. The city has expanded into…
-
GTA Housing Crisis: Urgent Need for Government Action
Housing stock lags behind population growth, the widest gap in 50 years. New home approvals in GTA take 20 months, increasing costs by $43,000-$90,000 per unit.
-
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.
-
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.
Got any book recommendations?