Week - Appartement de Ville

26/05/202426/05/2024

Cottage owners share the pros and cons of ownership and the Home of the Week: Canadian real estate news for May 25

Home of the Week, 145059 16th Side Road, Meaford, Ont.elevatedphotos.ca

Here are The Globe and Mail’s top housing and real estate stories this week and one home worth a look.

Try The Globe’s business and investing news quiz

Owning a cottage isn’t what it used to be: Canadians share the financial pros and cons of ownership

The state of Canadian cottage ownership is changing. For people already financially stretched on their primary properties, buying or maintaining a cottage is further out of reach than ever before, write Irene Galea and Salmaan Farooqui. That pressure has led many to see their cottages in a new light: a potential source of revenue, a liability or even a full-time home. Today, cottagers and the communities they inhabit are still reeling from the aftermath of years of change, from the pandemic to increasing housing prices. But there have

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14/04/2024

Ottawa eases mortgage rules for first time in a decade and the Home of the Week: Canadian real estate news for April 13

Home of the Week, 7 Hurndale Ave., Playter Estates, TorontoMshati Productions

Here are The Globe and Mail’s top housing and real estate stories this week and one home worth a look.

Try The Globe’s business and investing news quiz

First-time homebuyers can get 30-year mortgages to buy newly built houses under rule change

As part of a growing collection of initiatives designed to address Canada’s growing housing crisis, the federal government announced that it was easing its mortgage rules for the first time in a decade, writes Rachelle Younglai. First-time homebuyers who require mortgage insurance — due to making a down payment that is less than 20 per cent of the purchase price — will now be able to take out 30-year mortgages on a newly built home. It is unclear how much the longer amortization period will help first-time buyers, as it only

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02/04/2024

Trudeau announces support for renters and the Home of the Week: Canadian real estate news for March 30

The four-bedroom loft is situated in The Merchandise Building, a live/work complex renovated from the shell of a 1910 brick warehouse in Toronto.Michael Peart Photography

Here are The Globe and Mail’s top housing and real estate stories this week and one home worth a look.

Try The Globe’s business and investing news quiz

Trudeau announces renter-focused measures ahead of 2024 budget

Prime Minister Justin Trudeau announced a series of measures to help renters in Canada, including a $15-million tenant protection fund and a Canadian renters’ bill of rights, write Bill Curry and Marieke Walsh. A third measure is to amend the Canadian Mortgage Charter, so that it calls on landlords, banks, credit bureaus and fintech companies to take rental history into account when assessing credit worthiness. The government hopes that by dropping budget details in advance, it will be able to garner more attention

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24/03/2024

Investor dominance in Ontario real estate and the Home of the Week: Canadian real estate news for March 23

Home of the Week, 79 Amelia St., HamiltonMichael Goencz Photography

Here are The Globe and Mail’s top housing and real estate stories this week and one home worth a look.

Try The Globe’s business and investing news quiz

Banks to face new limits on mortgage loans above 4.5 times a homebuyer’s annual income

The Office of the Superintendent of Financial Institutions is capping the number of highly leveraged loans in the banks’ residential mortgage portfolios, instructing lenders they will have to limit the number of mortgages that exceed 4.5 times the borrower’s annual income, write James Bradshaw, Rachelle Younglai and Stefanie Marotta. The new income limit, which is expected to take effect in the first quarter of next year, comes on top of existing mortgage qualification rules. In markets like Toronto and Vancouver, prospective homebuyers often have to borrow more than 4.5 times their

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22/01/2024

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

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

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