With due respect to the politicians, economists, pundits, journalists, builders, realtors, empty-nesters, first-time buyers, and others who have opined on the fragility of the condo market and whay they perceive will be the cause of its imminent crash... They've got it wrong. But, also a bit right. Let me explain. This market, despite its solid fundamentals, is at a higher degree of risk today than any time in its recent past. If we don't recognize that risk and do something... [read more]

Engel & Völkers today released the results of an original study, "Meet HENRY: Influencing The Next Generation of Wealth." HENRY, an acronym that stands for High Earners Not Rich Yet, represents a niche demographic subset of Millennials and the youngest members of Gen X who have an annual household income of more than $100,000 and the greatest earning potential. For this study, Engel & Völkers surveyed more than 1,000 Millennial HENRY's (born between 1982 and... [read more]

Toronto home sales jumped again in June, nudging prices higher and narrowing affordable options for buyers. A total of 8,860 homes changed hands in Canada's biggest city in the month, up 10% from the same month a year earlier, the Toronto Real Estate Board reported Thursday. New listings fell 0.4% to 15,816 leading to increased competition between buyers and price increases across certain segments. Benchmark prices, which adjusts for the type of housing sold, rose 3.6% to $798,500... [read more]

For housing markets in Canada, 2018 has been a year of restraint. But looking ahead to 2019, there are a number of potential outcomes to consider. The mortgage stress test was perhaps the most influential policy change that affected homebuyers in 2018. Under the new rules, which came into effect in January 2018, most homebuyers were required to qualify for a mortgage at a higher rate than the contracted mortgage rate. This was done to determine the borrower's ability to service the... [read more]

It would be easy to mistake the lobby of the One o One condos in midtown Toronto for a nightclub or graffiti-splashed alley. Instead of the muted colours and cookie-cutter designs that fill many condo buildings, developer Camrost Felcorp hired Toronto artist Anthony Ricciardi to create seven murals splattered with bright paint and a rainbow of drip marks. The flashy pieces put the building in a growing group of condo complexes whose hallways, lobbies and outdoor grounds are being... [read more]