Real Estate in the News

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Real estate news stories that we’ve been following this week.

The Bank of Canada Serves Up Its Latest Economic View With A Dash of Hope Sprinkled On Top
Inflation is “near the bottom” of the target range and consistent with the current economy, with the economy remaining in line with current forecasts. Until there is a change in the economy of our trading partner south of the border, fiscal policy will remain unchanged. Also read :”Canada’s economy enters ‘tailspin’ as oil shock takes toll” and “‘Substantial’ drop in living standards looms for working Canadians“.

GTA Realtors Report Monthly Resale Market Figures
TREB reports 11,706 sales for May 2015, up 6.3% over May 2014. “Tight market conditions, especially for singles, semis and town homes in the GTA, have resulted in strong price growth regardless of the price metric being considered. With no relief so far on the listings front, expect similar rates of price growth as we move through the remainder of 2015. At this point, a number of months where listings growth outstrips sales growth would be required to satisfy pent-up demand,” said Jason Mercer, TREB’s Director of Market Analysis. Also read “Toronto, Vancouver house prices soar amid spring rush” and “Why the sky still isn’t falling on Canada’s real estate market“.

Finance Minister predicts Canada’s economy will bounce back from dismal quarter
No recession coming says Federal Finance Minister Joe Oliver as he expects the economy to recover from the dismal first quarter.

House prices may stay high in Canada: Here’s why
The argument against all the doom-and-gloomers about the over-valued Canadian housing market.