Real Estate

The house flips that don’t pay off, the home of the week: Canadian real estate news for January 20

Open this photo in gallery:

3 McAlpine St., # 104, TorontoMichael Peart Photography

Here are The Globe and Mail’s top housing and real estate stories this week, with the lowest mortgage rates available in Canada today and one home worth a look.

Take The Globe’s business and investing news quiz

Canadian home sales jumped 9% in December, but prices continued to fall

The 8.7-per-cent bump in transactions from November to December was the first monthly increase since June, according to the Canadian Real Estate Association (CREA). But CREA and bank economists cautioned against reading too much into last month’s sales, writes Rachelle Younglai. Experts say the increased activity was likely because some sellers finally accepted that they would not get the prices they saw in early 2023, instead of the start of a bigger recovery in the housing market. CREA said 443,511 Canadian homes were sold in 2023, 11

Read more
Real Estate

Fraud or real estate? Five takeaways from week one of the Trump Organization trial | Donald Trump

The trial of Donald Trump and his real estate business kicked off this week in Manhattan as the former president faces a potential fine of at least $250m for financial fraud.

In his pre-trial ruling, the New York judge Arthur Engoron found Trump guilty of fraud for creating false and misleading financial statements. Trump boosted the value of his assets by as much as $2.2bn, according to an investigation by the New York attorney general, Letitia James, who brought the case against Trump.

Engoron had already dealt a heavy blow to Trump, cancelling the business licenses that allow him to run his business in the state.

The first week of the trial had a full cast of characters, including appearances by Trump himself, who railed against proceedings outside of the courtroom but remained largely muted as they took place inside.

Because this is a civil case, Trump will not be

Read more
Forec

Toronto’s Home of the Week: $3-million spacious Yorkville condo

900 Yonge St., Unit 1504

Location: 900 Yonge St., Unit 1504, Davenport Rd. and Yonge St., Yorkville, Toronto

Asking price: $2,995,000

Size: About 3,500 sq. ft.

Parking: Two underground exclusive spaces, one exclusive locker

Taxes: $7,431 (2022)

Bedrooms: Three

Bathrooms: Three

“We have lived here for over eight years. After 26 years in a great house in Allenby, we felt at home instantly. Given the Yonge and Bloor location, we’ve stopped driving our cars, as we walk and take the subway everywhere,” says homeowner Benjamin Applebaum of his condo suite.

Created by merging two condo units together, the expansive bungalow-sized home sits on an upper floor of a 16-storey building, located in the heart of Toronto’s midtown core, minutes from Yorkville’s exclusive shops and restaurants, and two subway lines.

“Our home has lots of space, great light, a kitchen large enough that my wife and I can both easily work

Read more