Real Estate in the News

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

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TREB: A message from the new president
Mark McLean introduces himself as the new Toronto Real Estate Board president in this open letter

Don Pittis: Canadian economy needs to get out of election mode
A downturn in the economy may change the way the current government handles the finances of the country in order to be re-elected. Also read “Canada is not in a recession, influential group of economists says“.

Renting out property to get easier as CMHC changes rules
Changes to what qualifies as income for mortgages by the Canada Mortgage and Housing Corporation (CMHC) should make it easier to include the rental income of secondary units. This change allows 100% of rental income to be considered for new loan applications and takes place September 28, 2015.