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Most significant trends influencing how first-time homebuyers choose their homes: 1) rising home prices in certain markets, 2) changes to mortgage rules, and 3) shifts of the housing stock toward multifamily. https://buff.ly/388qjeI
Interesting numbers: GTA median home prices increased by 8% year-over-year (up to $720,000), and this 8% is a $55,000 increase, and $55,000 is essentially the median Toronto resident’s post-tax earnings (average: $58,264 per year). https://buff.ly/2TtKKyL
New report by the Altus Group suggests that employment growth was a better indicator than total population growth to explain housing starts in recent decades. https://buff.ly/382wKjF
Geared towards the middle-class in London, federal funding has been announced for two residential buildings (420 units) downtown at 495 Talbot Street and 110 Fullarton Street. https://buff.ly/302Oh8q
Prime Minister Justin Trudeau tasked Finance Minister Bill Morneau to review the borrower stress and to potentially make it "more dynamic,” something the banks caution must be done carefully. https://buff.ly/2QyYrdL
