Real Estate in the News

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

Canada’s economy shrank 0.1% in April, Statistics Canada says
Canada’s economy has contracted every month this year, Stats Canada reports. The oil and gas sector contributed to the decrease. Also read “Recession Threat Looms As Canada’s Economy Shrinks For 4th Month In A Row“.

Ontario Allows Real estate Documents To Be Signed Electronically
Effective July 1, 2015 the law of the land has changed to allow electronic signatures to be legally binding on real estate documents for purchase and sale. This change should bring speed up the time to process the transaction documents involved. Also read “Electronic signatures to be accepted in Ontario real estate deals“.

Pan Am Games attract more Airbnb hosts than guests
demand for short-term rentals have not hit their peak with only 650,000 tickets out of 1.4 million sold so far for Toronto’s Pan Am Games. It’s not looking good for those with hopes of some short-term rental income from tourists visiting Toronto during the games.

Zoocasa back online less than two weeks after shutdown
Online brokerage Zoocasa, which closed down June 22, 2015, is reopening under new ownership with a new direction using the same technology that existed before the shutdown. Also read “Zoocasa returns“.