MapleHomes

Toronto's New Rules for Airbnb and Other short term Rentals.

Landlords lose appeal over Toronto’s new rules to limit Airbnb, other short-term rentals | The Star An adjudicator says the city has balanced the need for tourist accommodation with the protection of Toronto’s housing stock.

Canada’s First-Time Home Buyer Incentive | Budget 2019 Mortgage Incentive The First-time Home Buyer Incentive (FTHBI) announced in budget 2019 will assist qualified first-time homebuyers, freeing up income to pay for other everyday expenses. Click-through to learn more about CMHC’s mortgage incentive.

Ontario REALTORS® – take action here for a modern REBBA

GTA HOME PRICES CONTINUE TO RISE AS NEW LISTINGS DROP.

New listings are up 12 per cent this year to date, according to statistics released on Wednesday.
There was a spike in new real estate listings after the government policy was announced as a way to cool the overheated market. Those listings have now been absorbed, he said.
The underlying issue of the region’s housing shortage hasn’t changed, however.
“For a period of time, an ongoing supply issue in the GTA was masked by the fact that the sales had dropped off substantially. Now we’re in a situation where sales are certainly not back at their record level, but we’ve also seen listings move back down to where they were prior to the volatility,” said Mercer.
Before the Fair Housing Plan, the Toronto region had seen double-digit home price increases for months, with buyers competing fiercely for homes and multiple offers becoming the norm.
Although some neighbourhoods are hot again, Mercer said he doesn’t expect a return to the conditions in the first three months of last year.
“Looking forward through 2019, I wouldn’t expect to see a return to double-digit price growth, but looking at some of these categories of homes, you're seeing price growth certainly above the rate of inflation. That’s indicative of relatively tight market conditions even with sales off their historic highs,” he said, citing the continuing price climb of condos in particular.
Lower-priced homes have seen the strongest growth recently, particularly as the mortgage stress test requires buyers to qualify for a loan above the rate their bank is offering. That, coupled with rising interest rates, has curtailed affordability.

This condo developer collected millions in deposits — and hasn’t built anything | The Star Central Park Ajax seems destined to become the latest failed venture by Thomas Liu’s LeMine Investment Group.