Real Estate in the News

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

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Toronto real estate board stifling innovation, competition, lawyer tells tribunal
This week the trial continued between the Competition Bureau and the Toronto Real Estate Board. John Rook, a lawyer representing the bureau, says the real estate board is standing between consumers and the data because it fears competition from online startups could spark a price war and lead to lower commissions for its member real estate agents.

CREA: Canadian home sales little changed in August
Sales were little changed on a month-over-month basis among all local markets in August, with an even split between markets posting increases and those with declines. Also read “CREA Updates Resale Housing Forecast“.

Calgary house prices: Nothing stays up forever
After an uptick in August, prices which were down around three per cent, are now basically flat on the year, according to the Teranet-National Bank house price index. Also read “Average house price jumps 8.7% to $433,367 in August“.

AP Interview: Canadian finance minister says country not in recession
“We don’t believe that the economy was in fact in a recession,” said Joe Oliver, whose Conservative party is seeking re-election on Oct. 19.

Ottawa posts $1.9B surplus for fiscal 2014-2015
The Department of Finance said the figure is a reversal of a $5.2 billion-deficit posted for the previous fiscal year. Also read “OECD lowers estimate for Canadian growth this year despite better U.S. outlook” and “Why No One’s Worried About the Recession in Canada“.

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