Real Estate in the News

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

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GTA Realtors® Release Monthly Resale Housing Figures
“Buyers in the GTA remain confident in their ability to purchase and pay for a home over the long term. They see ownership housing as a quality investment that has historically produced positive returns while at the same time providing owners with a place to live in their chosen community,” said Mark McLean, TREB president. Also read “Toronto area home prices soar near 10% in August“.

Stephen Harper’s approach to real estate issues is flawed
The trend of Chinese buying into Canada’s housing market has been on the rise for several years. That demand, plus local investors and speculators trading condos as commodities, are two major reasons for real estate prices getting out of reach for ordinary Canadians.

Putting numbers to the NDP’s potential corporate tax rate plan
The NDP leader has not yet spelled out precisely how high he would boost the federal corporate tax rate, which currently stands at 15 per cent.

Homes getting more affordable everywhere but Vancouver, Toronto: RBC
RBC said it would require 59.4 per cent of a “typical” household’s monthly pre-tax income to support the mortgage payments, taxes and utilities on a bungalow in Toronto. Also read “Canadian housing markets mostly stable; hot pockets in Toronto, Vancouver: banks“.

Canada in recession as GDP shrinks in second quarter
Canada’s economy has met the bare minimum required before a recession is declared — two consecutive quarters of decline. Also read “Things are getting even uglier in Canada” and “Canada to keep interest rates on hold until 2017: Reuters poll“.

Buy Canada! The bullish case for the Canadian economy
Forget about layoffs, housing bubbles and falling markets, how could things start breaking right in the second half of the year?

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