Mindblown: a blog about philosophy.
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Bidding Wars Have Returned as the GTA’s Market Heats Back Up
Overbidding has returned to dozens of GTA neighborhoods ahead of the spring selling season. 25.1% of areas in Toronto entered sellers' territory in February.
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Happy April Fool’s Day
Breaking news! Interest rates at pre-pandemic levels, mortgage rates at all-time low, announces Fed. It's a dream come true for homebuyers who have been waiting for the perfect time to enter the market! Dream on… Happy April Fool’s Day!
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Happy Easter
Easter is a Christian holiday that celebrates the belief in the resurrection of Jesus Christ.However, according to many theologians, Easter originally began before the arrival of Christianity.It is believed that Easter is named after the Anglo-Saxon goddess of the dawn and spring, known as Eostre.Examples of Easter traditions include Easter eggs and related games such…
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Toronto just climbed the rankings for most expensive cities to rent in Canada
Toronto has regained its position as the second most expensive city for renters in Canada, after Vancouver. Rent prices in Toronto have slightly decreased, but nationally, they have increased by 10.5% compared to last year. The cost of renting a one-bedroom apartment in Toronto is $2,495, and a two-bedroom is $3,287. Rent prices have risen…
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Greater Toronto Area Condo Investment Opportunities
Condo prices in GTA shifted significantly, offering tempting deals in 2024. High interest rates and low activity changed the GTA condo market in two years.
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Ontario: Can It Build 1.5 Million Homes by 2031?
Current progress: – Ontario is ~19% towards its goal of building 1.5M homes by 2031. Challenges and contributing factors: – Shortage of builders and land, along with a bias against development, hinder housing growth.
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Additional Incentives Needed to Spur New Rental Construction in GTA
GTA faces housing needs for both rental and ownership, but adding supply is complex and time-consuming. Purpose-built rental struggles economically, especially in justifying initial investments, making it sensitive to tax changes.
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Rent prices in Toronto continue to plummet, but that could change soon
Rental demand exceeded supply in Toronto in 2023, causing high rent prices. However, there is hope for lower prices this year due to dropping interest rates and new construction projects. Toronto saw a decrease in rent prices for one-bedroom and two-bedroom units. Other cities also experienced changes in rent prices. Continue to full article
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GTA Home Sales to Surge in 2024, Condo Rental Market to Loosen
TRREB forecasts a rebound in GTA housing market in 2024, with sales expected to ↑ and supply-demand conditions to tighten.Sales projected to reach 77K by year-end, with avg selling price expected to ↑ ~4% to $1.17M.
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N11 or N12: Which Fits Your Selling Plan in Ontario?
Two approaches for sellers wanting tenants to move out during the sale process: N12 notice or negotiating an N11 agreement.Seller's Perspective on N12 Process: – Property may sell with tenant, but at a lower price – Buyers may request compensation if tenants resist vacating
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